The cryptocurrency market has fallen by 0.53% in the last 24 hours, continuing a broader downward trend with losses of 8.29% over 7 days and 11.72% over 30 days. Main reasons:

1. **Liquidity shortage** due to the suspension of the US government has decreased risk appetite.

2. **Liquidations amounting to $619 million** over the past 24 hours have intensified selling pressure.

3. **Macroeconomic uncertainty** (increased rates, regulation)scared investors.

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The liquidity deficit in the USA ( is a negative factor)
The suspension of the U.S. government in November 2025 led to a liquidity crunch — the Treasury's account remained high, which limited the inflow of capital into risk assets such as cryptocurrencies. Bitcoin fell to a six-month low of $93K, dragging altcoins down as well. Although government operations resumed, delays in payments and reduced market depth heightened volatility.

**What does this mean:**

The sensitivity of cryptocurrencies to changes in liquidity at the macro level has become apparent. Analysts, for example, Derek Lim from Caladan, note that Japan's stimulus of $110 billion and the resumption of spending in the US could stabilize the market, but the recovery will lag.

**What to pay attention to:**

The Federal Reserve's decisions on interest rates and the yield on U.S. Treasury bonds — these factors influence the risk-return ratio in crypto assets.

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Liquidations of derivatives and fear in the market (negative factor)

**Overview:**

In the last 24 hours, liquidations of cryptocurrencies amounted to over $619 million, of which $243 million was attributed to Bitcoin. The Crypto Fear & Greed Index reached 10 ( "Extreme Fear" ) — the lowest level since February 2025, which triggered panic selling.

**What does this mean:**

Long positions with leverage were quickly closed, causing a cascade market drop. Open interest in derivatives rose by 12.8% in 24 hours, indicating "trapped" bulls.

**What to pay attention to:**

Funding rates ( are currently +0.007%) — if they remain positive, this could indicate potential rallies.
Regulatory pressure and macroeconomic factors (mixed effect)
There are rumors of stricter regulation of cryptocurrency exchanges and delays in rate cuts in the US. Last week, $1.1 billion left BTC ETF, which has a negative impact on sentiment. Meanwhile, the correlation of Bitcoin with Nasdaq-100 over 7 days reached 0.86, reflecting overall macroeconomic risks.

**What does this mean:**

Cryptocurrencies remain linked to traditional markets. However, the stakes of institutional investors, such as ( million in Bitcoin ETF from Harvard and the potential of the crypto market in Pakistan at ) billion, demonstrate long-term interest.

**What to pay attention to:**

Progress in US cryptocurrency legislation $443 , for example, the GENIUS Act $300 and the SEC's position on altcoin ETFs.
WITHDRAWAL
Today's decline is caused by a liquidity shortage, the closing of derivative positions, and macroeconomic and regulatory concerns. Despite short-term difficulties, the improvement in liquidity following the resumption of government operations and institutional purchases (, such as Harvard's move with ETF), indicate a potential stabilization. **Will Bitcoin support hold in the range of $88K–( or will macroeconomic factors exacerbate the correction?** Keep an eye on the Fed's statements and ETF flows for insights into further trends.