The cryptocurrency market has experienced a significant decline in the past 24 hours, with a total of 208946 people being liquidated in the past 24 hours, resulting in a total liquidation amount of $800 million. Bitcoin once fell below $53000. At the same time, Jump Trading's cryptocurrency division sold Ethereum heavily last night, exacerbating market selling pressure and panic.

Several on chain whales' leveraged positions in Ethereum were forcibly liquidated due to reaching the liquidation price, further driving the decline of Ethereum.

0x11111567e0954e74f6ba7c4732d534e75b81dc42e has been cleared of 6559 ETH.

0x4196c40dee33062ce03070f058922baa99b28157b was liquidated with 2965 ETH.

0x790c9422839fd93a3a4e31e531f96cc87f397c00 was cleared with 2771 ETH.

0x5de64f9503064344db3202d95ceb73c420dccd57 has cleared 2358 ETH.

So far, Ethereum has almost recovered all of its gains from the beginning of the year. Most altcoins have also experienced a decline of over 20% in the past 24 hours.

This decline seems to be a trend linked to the global financial system. According to CNBC, the Japanese stock market opened sharply on Monday, with both the Nikkei and Tokyo stock indexes falling more than 7%, triggering circuit breakers and a nearly 20% drop from their historical high on July 11th. On the other hand, the Korean Composite Index futures also fell 5% this morning, triggering the Korean exchange to implement temporary suspension measures and suspending program trading for 5 minutes. At the same time, Taiwan's stock market also experienced a decline of over 6% today. It can be said that the stock markets in the Asia Pacific region were completely wiped out after opening.