This morning Beijing time, the cryptocurrency market fell sharply, with Bitcoin falling below $63,000, a drop of 4% at one point. Ethereum, BNB, Solana, Dogecoin, Cardano and others all fell. Within 24 hours, more than 80,000 people were liquidated in the cryptocurrency market. Many US stocks related to cryptocurrencies also fell.

The sharp drop in risky assets such as cryptocurrencies is related to the tense international situation. In the early morning of October 1, local time, the Israeli military issued a statement saying that it had begun a "limited ground operation" in southern Lebanon. After the above news spread, cryptocurrencies continued to fall.

In addition, Bitcoin rose nearly 5% last week, becoming overbought, which is also one of the reasons for today's plunge.

More than 80,000 people were liquidated

On October 1, the cryptocurrency market was once again in turmoil, with Bitcoin falling 4% and falling below $63,000. As of press time, Bitcoin fell 3.7% to $63,040; Dogecoin fell nearly 9%, Cardano fell more than 6%, Solana fell more than 4%, BNB fell 3.7%, and Ethereum fell more than 2%.

According to Coinglass data, in the past 24 hours, the number of people whose positions were liquidated in the cryptocurrency market was close to 81,500, and the total amount of liquidation was US$231 million, of which US$198 million were long positions liquidated and US$33.29 million were short positions liquidated.

Stocks related to cryptocurrencies are also falling. As of the close of U.S. stocks on Monday, CleanSpark fell nearly 8%, Bitdeer fell more than 7%, Coinbase fell nearly 7%, and Marathon Digital and HUT fell more than 6%.

This wave of sell-offs in risky assets such as cryptocurrencies is related to the escalation of tensions in the Middle East. In the early morning of October 1, local time, the Israeli military said it had begun a "limited ground operation" in southern Lebanon. After the news spread, the cryptocurrency's decline further expanded.

As net inflows into global cryptocurrency exchange-traded products accelerated to their highest level since mid-July, Bitcoin rose nearly 5% last week in the five days ending September 27, making it overbought. Other options traders expect cryptocurrencies to fall further in the coming weeks and only rebound after the U.S. election in November.

Israeli army launches ground operation

In the early morning of October 1, local time, the Israeli military issued a statement saying that it had begun a "limited ground operation" in southern Lebanon.

The statement said that a few hours ago, the Israeli army began to carry out "limited, localized and targeted ground strikes" against Hezbollah targets and military facilities in southern Lebanon based on precise intelligence. These targets are located in villages close to the Israeli border and "pose a direct threat to northern Israeli communities."

The statement said that the Israeli army is carrying out operations in accordance with the plan formulated by the General Staff and the Northern Command, and Israeli soldiers have been training and preparing in recent months. The Israeli Air Force and artillery are supporting ground forces to carry out precision strikes on military targets in the region.

According to a report by The Times of Israel early that morning, the Israeli Security Cabinet has approved the launch of the next phase of operations against Hezbollah in Lebanon.

According to CNN, as Israel's ground operation in Lebanon began, the sound of artillery fire from positions close to the border, and the sounds of drones and helicopters also sounded in the air. A senior Israeli official said that Israel "will not occupy southern Lebanon for a long time", but refused to say how long the operation was expected to last.

In the early morning of October 1, local time, the Lebanese Ministry of Health announced that in the past 24 hours, Israel's attacks on the Lebanese capital Beirut and towns and villages such as the southern Bekaa and Baalbek-Herme have killed 95 people and injured 172 people.

Since the outbreak of a new round of Israeli-Palestinian conflict on October 7 last year, Hezbollah in Lebanon has launched attacks on northern Israel from time to time, and the Israeli army has retaliated with air strikes and shelling of targets in southern Lebanon. After the explosion of communications equipment in Lebanon on September 17 this year, the conflict between Lebanon and Israel escalated sharply. In recent days, Israel has launched fierce air strikes on the southern suburbs of Beirut, the capital of Lebanon, and other places. Hezbollah leader Nasrallah was killed in an air strike on September 27.

US President Biden said on September 30 that Israel should abandon its ground military operations in Lebanon and implement a ceasefire. Biden said that he understood Israel's plan to launch a "limited ground operation" in Lebanon soon, "I hope they stop and a ceasefire should be implemented now."

U.S. State Department spokesman Matthew Miller said at a regular press conference on the same day that the U.S. has communicated with Israel about the latter's possible ground military operation in Lebanon. Israel informed the U.S. that the ground operation will be limited to attacking Hezbollah's infrastructure on the Lebanese-Israeli border.

Syrian capital attacked

It is worth noting that while launching ground operations in southern Lebanon, the Israeli army also attacked the Syrian capital.

According to the Syrian Arab News Agency (SANA), Israel attacked the Syrian capital Damascus on October 1, local time, killing three civilians and injuring nine. According to a report by Syrian state television on the same day, a TV host was killed in an Israeli airstrike on Damascus.

SANA previously reported that Syrian air defense forces intercepted "hostile targets" near the capital Damascus. So far, Israel has not responded to this.

According to CCTV News, sources said that in the early morning of September 30, local time in Iraq, a US military base near Baghdad International Airport was attacked by rockets, but no casualties were caused.

Sources said two of the rockets were shot down by local special defense systems, while the third rocket landed near the Counter Terrorism Service Command.

In addition, on September 30, local time, Yemeni Houthi armed forces military spokesman Yahya Sariya said in a speech that the Houthi armed forces shot down a US MQ-9 drone over Zasada Province. This is the eleventh drone of this type shot down by the Houthi armed forces.