#加密市场观察 The current market is dominated by macro negative factors such as US and European tariff disputes and geopolitical tensions. The hedging effect of the Federal Reserve's liquidity injections has been diluted. As the upcoming FOMC meeting approaches, market caution has intensified, with funds flowing into traditional safe-haven assets, putting significant pressure on the crypto market. Liquidity remains tight, with a slowdown in spot ETF inflows for BTC and ETH, and no additional funds providing support. In the afternoon, a breakdown occurred along with long position liquidations, trigg