Market crash! Cryptocurrency suffers huge losses, $18 million loss triggers panic!

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In the past seven days, the cryptocurrency market has been hit hard, wiping out all gains since December last year. Market sentiment has fallen to its lowest point of the year, with bear market traders dominating the market, Bitcoin dropping below $95,000, dragging Ethereum (ETH) and other altcoins down significantly.

The shock of an $18 million loss

Due to high volatility, a trader was liquidated three times within 35 days, with total losses exceeding $18 million. On January 9, this trader lost 1495 ETH, worth about $4.97 million. This incident has drawn widespread attention, with many users facing similar predicaments. The inflow of Ethereum has significantly decreased, with the price dropping below $3,500, continuing to decline to $3,255, a further drop of 2% from 24 hours ago, down 6% this week.

Institutional enthusiasm evaporates instantly

At the beginning of the year, the influx of institutional investors had driven the market surge, with many traders accumulating large assets during the bull market of Bitcoin and altcoins. However, as the market crashed, a wave of sell-offs swept in, erasing these huge gains. The market capitalization of the cryptocurrency market has fallen below $3.35 trillion, with increasing sell-off pressure on Bitcoin and altcoins.

Decentralized Finance (DeFi) trading volume declines

The market slump and low sentiment have led to a significant decline in DeFi trading volume, with investors retreating. Although institutions are optimistic about the future, in the short term, the market's turbulence still leaves many with significant losses.

In this environment, it is crucial to remain calm and rational, especially given the current market volatility and uncertainty.

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