QCP Capital's analysis points out that due to Trump raising global tariffs from 10% to 15%, macro risk sentiment has weakened. BTC dropped below $65,000 during the Asian morning session, triggering approximately $230 million in long liquidations. The current price remains significantly below the average mining cost of around $84,000, increasing liquidity pressure on mining companies. Bitdeer has already emptied its BTC reserves, and some mining companies are pivoting to AI businesses. However, market selling pressure is more restrained compared to the beginning of the year. Options skew hasn’t widened significantly, and ETF fund flows seem more like basis trade unwinding rather than a full-scale exit, indicating that positions are being adjusted rather than disappearing. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=57074