Bitcoin, as the leader of virtual currencies, saw its price plummet rapidly after Powell's remarks. In the early hours of the 19th, Bitcoin's price even briefly fell below $100,000 per coin, with a decline of over 5.5%, marking the largest single-day drop since August.

By December 20, Bitcoin's price again dipped, briefly dropping below the $96,000 mark, and as of now, the price has fallen to $95,300 per coin. In just two days, Bitcoin's price has retraced more than $10,000 from a peak of $108,000 per coin, an astonishing drop.

Apart from Bitcoin, other cryptocurrencies have also been affected, experiencing significant declines. Dogecoin's drop exceeded 11% in a single day, highlighting the market's panic sentiment.

According to statistics from Coinglass, over 300,000 people globally have been liquidated due to the sharp drop in cryptocurrency prices in the last 24 hours, with a total liquidation amount reaching $1.023 billion (approximately 7.5 billion RMB). This data reveals the harshness and risks of the virtual currency market.