Midday market caused ripples, the sudden fall of Bitcoin triggered market fluctuations. Industry insiders are speculating, with various statements emerging. There are rumors that the United States successfully cracked the Private Key, leading to 120,000 Bitcoins in Cambodia being seized; others believe that illegal fund holders are eager to sell. However, these speculations obviously lack credibility.

As long-term observers deeply involved in the cryptocurrency field, we all understand the difficulty of cracking a Private Key. Bitcoin uses 256-bit encryption, and even ordinary computers would need to wait until the end of the universe to crack it. Currently, the most advanced quantum computers have only reached 72 bits, which is still a long way from the 4000 bits needed for cracking. If the scenario of a Private Key being cracked really occurs, the entire global crypto system will collapse, not just causing such a small fluctuation.

In fact, this price fall is the result of multiple factors working together:

First of all, from a macroeconomic perspective, the US dollar index is rising. It is well known that the cryptocurrency market often displays a negative correlation with the movement of the dollar. Investors are concerned about tightening liquidity and are withdrawing funds in advance. In the afternoon, programmatic trading was triggered, further widening the fall.

Secondly, the behavior of large holders has also played a role in exacerbating the situation. On-chain data shows that a few hours before the price fell, a large address transferred over 10,000 Bitcoins to the exchange. This kind of whale selling behavior often triggers market panic, leading retail investors to follow suit and sell.

Finally, the technical aspect has also shown unfavorable signals. Bitcoin had been hovering around key support levels, breaking below the integer threshold in the afternoon, triggering a large number of stop-loss orders, and the accumulation of sell orders has intensified the downward trend.

Unlike obvious black swan events like Trump's tariff increases, this time it resembles a concentrated outbreak of potential risks. In this rapidly changing market, rumors are the norm, but true investors should remain calm and focus on key information such as on-chain data, dollar trends, and technical indicators.

In fact, there has never been a fall in the cryptocurrency market without reason; sometimes we may overlook certain risk signals. Maintaining rational thinking and not being misled by rumors is the attitude that experienced investors should have. In this field full of opportunities and challenges, a stable mindset is always the key to success.