[BIT: Crypto Market Cap Loses Approximately $800 Billion Since Early October, Market Liquidity Under Pressure] According to official sources, independent analysts at BIT have pointed out that since early October, the total market capitalization of cryptocurrencies has fallen from $2.9 trillion to $2.1 trillion, a loss of approximately $800 billion. BTC fell by about 9% this morning, hitting a low of around $62,000, before rebounding. The analysis indicates that compared to the trading volume of only about $29 billion last weekend, the trading volume during this week's decline surged to approximately $107 billion, accelerating liquidations, but with limited buying support, indicating the market is seeking liquidity. Net outflows of stablecoins have expanded to approximately $14 billion over the past 30 days, reducing the funds available to absorb selling pressure. With banks closed over the weekend, new fiat currency funds are finding it difficult to quickly enter the market; against the backdrop of an already weak macroeconomic environment, some investors are also increasingly concerned about recent cybersecurity risks.