Bitcoin once again exhibits jaw-dropping volatility. During the night from November 25th to the early morning of the 26th Beijing time, the price of Bitcoin briefly surged to a peak of about $99,000 per coin, only to plummet suddenly as if it had lost its footing on a cliff, dipping below the $93,000 mark at one point, presenting a thrilling plunge with a maximum drop exceeding 6%. This unexpected crash undoubtedly splashed cold water on investors who were intoxicated by the illusion that Bitcoin only rises and never falls, and the panic in the market spread instantaneously like a plague.

The decline of Bitcoin is not an isolated event; other cryptocurrencies have also fallen in tandem, leading to a dismal scene across the entire market. The situation for Dogecoin is particularly grim, with a drop exceeding 9%, playing the role of the 'leading faller' in this storm. In comparison, although Ethereum was also impacted, it performed relatively resiliently, seemingly striving to hold its ground amidst the wailing, showcasing a certain degree of resistance to the decline. However, this still cannot mask the severe challenges facing the overall cryptocurrency market.

Amidst this bloody plundering, the data is particularly striking—over the last 24 hours, more than 170,000 people in the cryptocurrency market faced liquidation, with the total amount reaching $547 million! This is not merely a simple listing of numbers, but the shattered hopes and dreams of countless investors. Many of them perhaps entered the market lured by Bitcoin's meteoric rise, eagerly anticipating a share of the profits, only to encounter such a brutal 'Waterloo'.

The turbulence in the cryptocurrency market has also affected traditional stock markets. MicroStrategy, a company heavily scrutinized for its substantial Bitcoin holdings, saw its stock price plummet more than 4% on that day, continuing to decline in after-hours trading, with a drop of about 4% at one point. Previously, following Trump's election victory and the subsequent surge in Bitcoin prices, the company's stock price also rose significantly, with a cumulative maximum increase exceeding 100%. However, today’s crash in Bitcoin has caused its stock price to fall from the clouds in an instant, leaving investors lamenting the unpredictability of the world.