BTC falls below $74000, market enters deleveraging phase

Federal Reserve Governor Cook stated that if inflation does not cool down as expected, he will support further interest rate hikes, indicating an increased tolerance for long-term high interest rates. The situation in the Middle East is tense, with the US military striking Iranian targets and ongoing risks in the Strait of Hormuz. US stock funds are concentrated in AI and semiconductors, with SK Hynix's market value exceeding $1 trillion, TSMC's 3nm price increase, and AI demand driving up technology supply chain costs. In terms of the cryptocurrency market, BTC fell below $74000, and the liquidation heat map shows $75800 and $77800 as pressure zones. If the support of $70000 is insufficient, the market may further decline. The overall market is dominated by macro and risk events.