[BlackRock's $26 Billion Private Credit Fund Restricts Redemptions] According to CoinDesk, BlackRock's private credit fund, with a scale of approximately $26 billion, has begun restricting withdrawals due to an increase in redemption requests, sparking concerns about the spillover pressure on the global private credit market. Analysts point out that tensions in the private credit sector could transmit to the crypto market through macro deleveraging and tokenized credit products, potentially impacting cryptocurrencies like Bitcoin. Additionally, the on-chain private credit market is nearing $5 billion. If the underlying credit assets depreciate or default, fluctuations in the net value of related tokens could trigger liquidations or liquidity tightening, affecting the DeFi ecosystem.