US stock market loses over $250B at open as liquidity squeeze rattles risk assets
Crypto Briefing
The US stock market and crypto sector faced a massive sell-off driven by a broad tightening of US dollar liquidity.Summary
The US stock market opened with a loss exceeding $250 billion, mirroring a simultaneous crash in the cryptocurrency market. Bitcoin and Ether saw significant declines, with Ether dropping over 50% from its all-time high. Macro analyst Raoul Pal attributes this volatility to a contraction in US dollar liquidity caused by government uncertainty and monetary policy, rather than asset-specific failures. With derivatives open interest hitting a nine-month low, the market is undergoing a necessary deleveraging process, suggesting that future stabilization depends on potential interventions by the Federal Reserve or Treasury.
(Source：Crypto Briefing)