Since last night, there has been only one key word: geopolitics has once again suppressed the market.

In terms of price, BTC fell below 69,000, ETH returned to around 2,070, and over $300 million was liquidated across the entire network in the past 24 hours, with 90,000 people wiped out.

Why did it drop?
The US-Iran talks broke down, oil prices rebounded, and inflation expectations rose again.
The Federal Reserve dares not act, and the market is starting to price in the possibility of "another rate hike."
Today’s $14 billion quarterly options expiration is being pushed before settlement, with prices being suppressed ahead of delivery.

What does the technical analysis say?
BTC’s key support levels are at 68,000-68,500; if it doesn’t hold, look to 66,000.
A rebound needs to stabilize at 70,000-70,500.
For ETH, watch 2,000-2,030; if broken, it could go down to 1,900.

Strategy: Today, watch how the market moves after the expiration. Don’t heavily bet on the direction before then. Keep an eye on 68,000—if it holds, expect a small rebound; if it breaks through, exit. The macro environment is too chaotic, reduce leverage, and don’t rush to chase.