This time is not purely a drop in liquidity expectations, there is also a bit of panic, but the panic in the cryptocurrency industry is much less than last time. It is unclear whether it is a temporary "overdraft"? (I personally have orders below, I'm not sure if I can receive them, mainly for Bitcoin) In terms of the US stock market, the reason for the sharp decline is also due to the expectation of a significant decrease in profits of related companies.