The entire network exploded by $900 million in just one hour, and institutions began to collectively withdraw after BTC fell below 63000

The ongoing escalation of the situation in the Middle East has triggered significant fluctuations in global risk assets. Iran announced the blockade of the Strait of Hormuz, while Israel responded strongly, leading to a rapid rise in risk aversion. Crude oil and gold surged, while the cryptocurrency market experienced a stampede like decline. Data shows that the entire network has experienced over 900 million US dollars in liquidation in the past hour, with a cumulative liquidation amount of up to 4.2 billion US dollars in 24 hours. Long positions have suffered the most severe liquidation this year. At the same time, institutional funds have also begun to noticeably withdraw. On chain data shows that Mt. Gox has once again transferred over 10000 BTC; BlackRock transfers 6005 BTC to Coinbase; Abraxas Capital also reduced its holdings of approximately 2469 BTC, further intensifying market selling pressure. On the market, BTC has officially fallen below the key support of $63000, and the 4-hour bearish structure continues to expand. The rapid decline in funding rates from 0.01% to 0.0015% indicates that market pricing power has returned to the hands of bears. However, there has also been a divergence of funds within the market. Hyperliquid data shows that HYPE's holdings have risen to $1.594 billion, ranking second only to BTC. Driven by the recent active perpetual trading of crude oil, some whale funds are continuously flowing into HYPE. Short term focus: BTC Pressure Zone: 64000-64500 USDT BTC key support: 61000/58000 USDT If BTC rebounds above 64000 and is blocked from increasing volume again, there will still be short-term bearish opportunities on the right side; If 61000 cannot be held in the future, the market may further expand the risk of serial liquidation. Currently, event driven trading is more suitable for fast in and fast out, rather than high leverage heavy position games. Risk Warning: The market fluctuates greatly, and this article is only for market information sharing and does not constitute any investment advice.