#数字资产市场动态 Last night's market movement was truly astonishing. The precious metals market experienced a major reshuffle overnight—gold plummeted nearly 1900 yuan per kilogram, and international gold prices followed suit; silver was even more dramatic, crashing over 10% intraday, with a surge of sell orders triggering a chain reaction. The global precious metals market lost over $2 trillion in market value in just one day. This is no longer just a simple correction but a real wealth shock.

Cryptocurrency assets led by $BTC were not spared either. The underlying logic is actually quite simple:

Profit-taking was flooding out wildly. The previous gains were too large, and as soon as there was any market movement, holders started to cash out en masse. This is perfectly normal. The dollar suddenly strengthened, and expectations of a Federal Reserve rate cut began to waver, causing the dollar rebound to directly suppress the performance of precious metals and risk assets. Coupled with the breakdown of technical support levels, automated trading systems exited positions, and stop-loss orders collapsed like an avalanche.

So the question is: is this the end of the bull market, or a shakeout before the next rally? Historically, fierce shakeouts in a bull market often pave the way for subsequent gains. But for investors who stubbornly held high positions, last night was a nightmare.

What’s even more heartbreaking—when even "safe-haven assets" like gold are experiencing intense volatility, what can we trust as a true safe haven? $ETH $ZEC these tokens' decline reflects a re-pricing of the entire market’s risk appetite. The test of gold faith is also a reflection of every trader questioning their own holding logic.