The US stock market, gold and silver, Bitcoin, and oil have all collapsed

As one of the "storm eyes" of this collapse, the cryptocurrency market led by Bitcoin suffered a severe decline and became a disaster area. As of 06:30 Beijing time on the 6th, the world's most valuable cryptocurrency Bitcoin has experienced a sharp intraday decline of 12.81%, with prices dropping to around $63000 at one point and even breaking through the extreme market trend of $60100 in an instant. The cumulative decline from the previous peak is nearly 50%, directly reversing multiple rounds of gains and falling to the low range since October 2024. Following closely behind, Ethereum experienced an even more astonishing decline, with a intraday drop of over 13.1%. Other mainstream currencies such as XRP and SOL also collapsed simultaneously, with XRP plummeting by over 22%, SOL、 Dogecoin has plummeted by over 14%, with some altcoins even experiencing a daily drop of over 20%. The total market value of the entire cryptocurrency market has shrunk significantly from its peak of $2.48 trillion to $1.27 trillion, causing a mournful cry. ​

The sharp decline of cryptocurrencies has directly triggered a chain reaction, and a massive number of investors have become "leeks", suffering from the bloodbath of liquidation. According to real-time data from CoinGlass, over 430000 people in the cryptocurrency market have experienced contract liquidation in the past 24 hours, with a total liquidation amount of $2.069 billion, approximately RMB 14.4 billion. Among them, more than 95% of the liquidation orders are long positions, which means that the vast majority of investors who chase high and enter the market, especially those who use leveraged trading, suffer heavy losses. Many investors' principal instantly drops to zero in a short period of time, and even face additional losses. The proliferation of high leverage trading has further intensified the intensity of market collapse, forming a vicious cycle of "decline, liquidation, forced selling, and further decline", further escalating the panic in the cryptocurrency market. The US ETF has shifted from net buying to net selling, further plunging cryptocurrency into a "confidence crisis". ​

Along with the collapse of the cryptocurrency market, there is also the US stock market, led by tech giants, which has experienced a sharp decline across the board, doubling the market's chill. During the overnight trading session, the three major indexes of the US stock market collectively opened lower and closed down by more than 1%, with the Nasdaq falling by 1.59%, experiencing the most severe three-day sell-off since April last year. The Dow Jones Industrial Average and the S&P 500 index also experienced varying degrees of decline, and market pessimism continued to ferment. Large tech stocks in the US have become the main force leading the decline, with Amazon and Microsoft plummeting by over 4%, and tech giants such as Apple and Google also falling. Software stocks have also experienced fierce selling, with some individual stocks falling by over 10% in a single day, hitting a new intraday low in many years.