After a weekend of heavy blows to cryptos, they continued to be sold off vigorously on Monday, dropping below $52,000 and nearly 12% during the day, with a drop of over 13% or nearly $2,300. Within the past seven days until last Sunday, Bitcoin had fallen by 13.1%, its largest drop since FTX went bankrupt, and other coins such as Ethereum and Dogecoin (DOGE.CC) followed suit. Since August 3, about 0.3 billion dollars have flowed into the addresses tagged by Jump Crypto, the crypto division of Jump Trading, while the company's wallet has flowed out about 80 million dollars, going to exchanges such as Coinbase, Gate.io, and Binance, and the fund flow is still continuing.$Bitcoin (BTC.CC)$The price of cryptocurrencies fell by 12% during the day, dropping below $52,000.$Ethereum (ETH.CC)$The drop in value was nearly 13%, equating to almost $2,300.

Over the past seven days until last Sunday, there was a cumulative decline of 13.1% in Bitcoin's value, which is the largest drop since FTX's bankruptcy, and Ethereum and other cryptos followed suit.$Dogecoin (DOGE.CC)$Since August 3, the inflow of funds into the addresses marked by Jump Crypto, Jump Trading's crypto division, has been around $0.3 billion, while the company's wallet has had an outflow of about $80 million, flowing to major exchanges such as Coinbase, Gate.io, and Binance.

Media analysis indicates that this wave of selling seems to originate from a 'time-triggered' algorithmic program that triggered sell orders at the same time for the past seven trading days (10 a.m. Eastern Time in the United States, just after the US market opens). It's worth noting that this algorithm was still running over the weekend, which may have caused a wave of HFT-driven selling and shorting, forcing leveraged long investors to surrender.

Data shows that Jump Trading, a cryptocurrency 'market maker,' is liquidating positions worth hundreds of millions of dollars by selling and shorting billions of dollars worth of various cryptocurrencies during the market's least liquid periods, while repeatedly eating up buy orders to ensure the worst possible execution price, attempting to aggressively reprice cryptocurrencies.

The fund flow is still continuing.$Coinbase (COIN.US)$

Behind this panic liquidation are mainly driven by factors such as global stock market turbulence and geopolitical risks, according to analysis:

1. The US stock market fell sharply last Friday, and the USD-to-JPY exchange rate plummeted, with the market expecting a sharp drop in Japanese stocks after they opened on Monday. Roughly estimated, on the basis of a 10% drop in the TOPIX index over the past two days, there may be an additional 6-8% downside. After the Bank of Japan's recent policy misstep, Japanese stocks have entered a bear market in the past few days. This may force the Bank of Japan to resume easing and cut interest rates again shortly after a slight hike, at which point the Japanese economy may once again fall into recession.

2. The market is concerned that the conflict between Iran and Israel may escalate. According to CCTV News, the speaker of the Iranian parliament said on the 4th that Iran will respond strongly to the incident, and Israel and the United States will pay the price for the death of Haneya. On the same day, Israel's Minister of Defense said that Israel is prepared to respond to the attack. Analysis indicates that every time the conflict escalates, Bitcoin sees a sharp drop. It is expected that a similar drop will occur again when the next 'conflict' takes place.

Editor/Somer