CoinEx Daily: Bitcoin Drops Below Key Support amid Spike in Liquidations and U.S. Macro Shifts

Daily View

Bitcoin sharply declined, with prices once touching 86,100 USD amid an environment of heightened liquidations. The broader risk markets are under pressure, driven by the weakening of market expectations for a Federal Reserve interest rate cut following the release of U.S. labor data. Market sentiment is deteriorating, reflected in a drop in the Fear and Greed Index to 14, and persistent net selling from short-term Bitcoin holders.