In the past hour, total liquidations across the network reached $15.55 million, with $869,697.65 from long positions, with $14.68 million from short positions. BTC liquidation $8.11 million, ETH liquidation $4.51 million.

According to market sources, the Trump administration is preparing for Warsh's nomination as Federal Reserve Chair. (Jinshi)

Odaily Planet Daily reports that U.S. Treasury Secretary Kevin Bessant stated on Friday that despite reservations from a key senator, the Senate Banking Committee has agreed to proceed with confirmation hearings for President Trump's nomination of Kevin Warsh to succeed him as Federal Reserve Chairman. Bessant said, "I think holding hearings is crucial. Chairman Powell's term expires in mid-May, and anyone concerned about the integrity and independence of the Fed wants to see Kevin Warsh ensure continuity." (Jinshi)

Odaily Planet Daily reports that the crypto market is under overall pressure, with Bitcoin expected to record its fourth consecutive week of decline, the longest losing streak since mid-November last year. The current market is primarily driven by fear, with the crypto fear and greed index remaining in the "extreme fear" zone for nearly two weeks, indicating that investors are more inclined to seek exit opportunities than chase positive news. Even with positive events, the market reaction has been noticeably weaker. For example, after BlackRock announced the introduction of its tokenized US Treasury fund BUIDL into Uniswap, the UNI token initially rose by about 25%, but subsequently gave back almost all of those gains, showing that short-term bearish sentiment still dominates. (CoinDesk)

Odaily Planet Daily reports that Deribit Chief Business Officer Jean-David Péquignot stated at the Consensus HK conference that Bitcoin's long-term upward trend has been broken, and the technical upward structure is unlikely to recover until the price reclaims $85,000. Recently, Bitcoin's price has mainly traded in the $60,000 to $70,000 range, a pullback of approximately 45% from its all-time high last October, and is likely to record its fourth consecutive week of decline. If Bitcoin breaks through $85,000 again, it would mean that buyers have largely absorbed the supply that previously suppressed the market, regaining market dominance. Currently, traders generally consider the $58,000 to $60,000 range to be the key ultimate support area for this correction cycle. (CoinDesk)