BTC, ETH, SOL key support levels broken, market sentiment turns to panic 🐻. Whale fund movements are frequent, Wintermute transfers ETH and large amounts of WLD, WLFI into exchanges, indicating potential selling pressure. On-chain security incidents (US government assets stolen) exacerbate risk aversion. The liquidation map shows that a price rebound could trigger massive short liquidations, with a possibility of a short squeeze. The entire network has liquidations of 130 million USD, and funding rates remain neutral. In summary, the market is in a high-volatility downward phase, with short-term bears dominating but caution is needed for a rebound.