🔴 Market Alert: Crypto Market Faces Major Downturn 🔴

Today, the cryptocurrency market is experiencing severe losses, reflecting the global equity market selloffs. Over $1 billion in liquidations have occurred, making this the worst daily performance since the FTX collapse in November 2022. The downturn is driven by the yen-dollar carry trade unwinding due to the Bank of Japan's interest rate hike. Additionally, geopolitical tensions and recession risks in the US add to the sell pressure. Bitcoin and Ether are leading the losses, with significant long position liquidations exacerbating the decline. Traders are urged to stay cautious during this volatile period.

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