PANews reported on April 9 that Glassnode said in its latest report that the announcement of the US tariff increase has had a major impact on major financial markets, with many markets experiencing their worst trading days since March 2020. Funds flowing into major digital assets have stagnated, creating significant resistance and causing liquidity to shrink. However, the scale of Bitcoin and Ethereum sell-offs seems to decrease with each drop in price, suggesting that investors may be approaching a state of short-term seller exhaustion. The collapse of digital assets is comprehensive, with the altcoin market value depreciating from $1 trillion in December 2024 to $583 billion currently. The intersection of on-chain indicators and technical models suggests that $93,000 is a key area of concern that must be recaptured before re-establishing upward momentum. On the downside, the $65,000 to $71,000 area remains a critical threshold that Bitcoin bulls must hold on to.