Bitcoin started to oscillate and decline after reaching a high of $69,546 yesterday, with a recent spike approaching $66,500, likely causing many investors to be shaken out. Ethereum saw a larger decline, returning to the consolidation zone of $2,640.

After reaching a high of $69,546 yesterday morning, 'selling pressure began to emerge.' Late last night, it briefly fell below $67,000, and around 8:30 AM, it again spiked close to the $66,500 level, quickly dropping below the low of October 17, likely causing many investors to be shaken out.

Before the deadline, it pulled back to $67,296, down 2.46% in the past 24 hours. Currently, Bitcoin's upward trend seems to show signs of being interrupted. Whether this is just a temporary correction or if the major players want to shake out the market while sentiment is high, and then pull back closer to the U.S. elections, remains to be seen.

Ethereum is even weaker, having reached a high of $2,769 yesterday before continuing to oscillate downwards, and is currently back in the consolidation zone at the $2,640 level.

In the past 24 hours, the total liquidation amounted to $204 million.

During the decline of Bitcoin, according to Coinglass data, over the past 24 hours, the total liquidation amount in the cryptocurrency market exceeded $204 million, with nearly 63,000 people liquidated.

Although the liquidation data has increased compared to yesterday, it is not considered too severe based on historical data, and it is speculated that future volatility may further amplify.

On the other hand, although Bitcoin's open contracts on exchanges have fallen from a new high of $40 billion, they are still at relatively high levels, and more intense market fluctuations could occur at any time.