#Gate Square Qixi Celebration# In the last 24 hours, the total market capitalization of encryption has fallen by 3.83%, evaporating to $3.86 trillion, triggering liquidations of nearly one billion dollars, mostly from long positions. The Bit has dropped below $110,000, while Ethereum has experienced a significant drop of 7.29%, causing a moment of panic in the market. However, whales and institutional funds continue to buy the dip, and on-chain data shows that large purchases continue to emerge, highlighting that long term confidence in the market has not been significantly affected. The market drop has led to panic selling, and the total capitalization has fallen to $3.86 trillion. BeInCrypto data indicates that the global encryption market capitalization has decreased to $3.86 trillion, and all assets in the top ten by capitalization have fallen, with Solana (SOL) experiencing the largest drop, down 10.75% in the last 24 hours. BTC has decreased by 3.11%, trading at $109,801, breaking the key support level of $110,000; ETH has had an even more notable drop, down 7.29%, trading at $4,393, 11.1% lower than the all-time high reached on Sunday of this week. A wave of liquidations has swept the market, with the amount of Ethereum liquidations in first place. Coinglass data shows that in the last 24 hours, a total of 207,102 traders have been liquidated, with a total amount of $942.72 million, of which $832 million comes from long positions. On a major CEX platform #Gate广场七夕心意# #加密市场回调# #特朗普罢免美联储理事库克# .