BitUnix analyst: BTC falls below $74000, crypto market enters leverage reshuffle stage According to BlockBeats, on May 28th, the core of the market remained focused on "rising inflation" and "prolonged geopolitical conflicts". Federal Reserve Governor Cook has made it clear that if inflation does not cool down as expected, he will support further interest rate hikes, indicating an increasing tolerance within the Federal Reserve for the long-term high interest rates. From energy prices, AI capital expenditures to global supply chain costs, the market is currently concerned that a new round of inflationary pressures may be forming. At the same time, although negotiations continue in the Middle East, military conflicts have not truly been resolved. The US military once again launched strikes against Iran's relevant military targets. The UAV and shipping confrontation continued around the Strait of Hormuz, while Trump further stressed that it would not relax sanctions against Iran and refused to let Iran control the Strait. This means that even if the market has short-term expectations for a 'ceasefire', the energy supply chain and global shipping risks are still in a highly sensitive state. On the other hand, US stock funds continue to be concentrated in the AI and semiconductor industries. SK Hynix's market value has exceeded $1 trillion, and TSMC has reported a price increase of 3 nanometers, indicating that AI demand is still driving up technology supply chain quotes and capital expenditures. But this has also raised concerns in the market that the AI boom itself is driving up global equipment, energy, and infrastructure costs, further increasing inflationary stickiness. In terms of the cryptocurrency market, after BTC fell below $74000, the market officially entered the stage of deleveraging. From the liquidation heat map, it can be seen that $75800 and $77800 still accumulate a large amount of liquidity, forming a clear pressure zone in the short term; Once the $70000 absorption is insufficient, the market may still seek further downward to find a new equilibrium zone. Against the backdrop of the Federal Reserve's renewed hawkishness, rising geopolitical risks, and global liquidity contraction, the overall cryptocurrency market is still clearly dominated by macro and risk events.