Bitcoin plunged below $78,000 this morning, Ethereum dropped below $1,600, SOL fell below $110

On April 9th, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that the market remains in a comprehensive bearish trend. The specific funding rates for mainstream coins are as shown in the attached image. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.

On April 9th, according to Coinglass data, the volatility of Bitcoin has continuously fallen for two consecutive days and has now dropped to 2.54%. A high level of Bitcoin volatility is often associated with speculative trading and the retail FOMO sentiment. When volatility decreases, it may indicate a reduction in short-term speculation, the market entering a consolidation phase or a "cooling-off period." Additionally, the volatility of the Bitcoin price is often linked to macroeconomic events such as inflation expectations, interest rate changes, or geopolitical risks. When these external factors stabilize, the volatility of Bitcoin may also decrease.

On April 9th, according to Coinglass data, within the past 24 hours, there was a cumulative net inflow of 4779.49 BTC in CEX. The top three CEXs in terms of inflow volume are as follows: Binance, with an inflow of 3280.27 BTC; OKX, with an inflow of 853.70 BTC; Bitfinex, with an inflow of 578.69 BTC. Furthermore, Bitstamp experienced an outflow of 265.89 BTC and ranked first in the outflow list.

April 9th: In the most severe market sell-off witnessed in years, safe-haven assets are currently showing no significant movement. With the implementation of tariff parity today, US Treasury bonds witnessed a sharp decline, and the 10-year Treasury yield reached the highest level since February. The price of gold rose during the day but remained on a downward trend for the week. Global stock markets hit a one-year low during this period. The US dollar also weakened. Although some observers have pointed out that German bunds and currencies such as the Japanese yen may become new safe havens, they also face risks in terms of liquidity, their own economic situations, and currency policy prospects. Pilar Gomez-Bravo, the Co-Chief Investment Officer for Global Fixed Income at MFS Investment Management, said: "If you aim to protect your capital and achieve a certain level of return, you don't have a large number of assets to choose from." The sell-off of US Treasury bonds is the most obvio

April 9th: Due to Trump's tariff threats leading to market panic, the US Treasury market witnessed a wave of basis trading unwinding, resulting in a rapid increase in long-term yields. On Monday (April 7th), in the face of tariff fears, XRP briefly dropped to $1.61; during the Asian session on Tuesday, after the market digested Trump's policies and positive ETF news, XRP quickly rebounded to $2, indicating that digital assets still possess appeal. Bitunix analyst proposes: The unwinding of basis trades triggered a surge in US bond yields. In the short term, safe-haven funds may continue to fluctuate in the crypto market. The technical performance of XRP in the $1.74–$2 range will determine the next move. It is advised that investors flexibly utilize the $1.74 support and $2 resistance levels and practice strict risk management.

On April 9th, US stock index futures saw a rebound. Nasdaq futures rose by 0.1%. S&P 500 index futures and Dow Jones futures briefly regained all their losses. (Oriental Fortune Network)