The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

According to data, Bitcoin, the cryptocurrency with the highest market value, experienced a sharp drop on Thursday evening Beijing time, with its price falling below $6,000 in an instant, a drop of more than 20%.

In the past two weeks, the traditional capital market has fallen sharply due to the global spread of the new coronavirus epidemic and the oil price war.

The U.S. stock market suspended trading twice in a week, and the Brazilian stock index triggered the third circuit breaker this week. Within 24 hours, stock markets in South Korea, Thailand, the Philippines, Pakistan, Indonesia and Canada all experienced circuit breakers. On Thursday, the European Central Bank announced that it would maintain the three key interest rates unchanged, and the French CAC40 index and the German DAX index also saw a dive.

Traditional safe-haven assets such as gold and U.S. Treasuries also struggled. Analysts believe that some institutions are liquidating these safe-haven assets in order to provide funds for margin calls in the stock market.

Crypto assets such as Bitcoin are also among the assets being liquidated. In the past few weeks, the total number of open futures contracts worldwide has fallen sharply. According to Skew data, Bitcoin open positions fell from a high of $5 billion on February 14 to nearly $3.8 billion, a new low in nearly two months.

According to the Crypto Fear and Greed Index, which measures investor sentiment, the market is currently in an "extreme fear" phase. The index is currently at 14. It is one of the lowest values since the bear market began in 2018.

The sharp drop in Bitcoin prices has also led to large liquidations on multiple platforms. Cryptocurrency analyst Joseph
Young said on Twitter, "On the BitMex exchange alone, $665 million in Bitcoin longs were liquidated."

Other major cryptocurrencies also followed Bitcoin's downward trend. According to BitPush data, in the past 24 hours, Ethereum fell 23.05%, XRP fell 17.17%, Bitcoin Cash fell 29.81%, Litecoin fell 21.69%, Bitcoin
SV fell 30.10%, EOS fell 21.08%, Coin fell 22.42%, Tezos fell 25.63%, and Chainlink fell 25.40%.

Although Bitcoin prices have plummeted, some crypto people are still optimistic.

Arthur Hayes, CEO of crypto exchange Bitmex, said that Bitcoin cannot avoid the impact of the current market turmoil and may fall to a lower level of $6,000 due to the panic caused by the new coronavirus epidemic. But he still believes in the status of cryptocurrencies as safe-haven assets and believes that Bitcoin may rebound to $20,000 by the end of 2020. Barry Silbert, one of the founders of Grayscale Capital, also tweeted that he is buying Bitcoin now, which is why Bitcoin was invented.