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Golden Ten Data reported on June 26 that this week, gold prices fell below the $4,000 per ounce mark, signaling a sharp reversal in the multi-year bull market that had persisted previously. Last year was gold’s best-performing year in four decades, thanks to strong support from the so-called “devaluation trade” — where, due to the increasing fiscal debt burdens of developed economies, investors showed a preference for allocating assets to alternatives such as gold. However, this trade has since gradually unraveled. “When a crowded bullish trade comes under pressure, investors tend not only to sell what they want to sell but also what they are able to sell,” said Charu Chanana, Chief Investment Strategist at Saxo Bank. “Over the past year, gold has been a highly profitable trade, so when portfolios need to reduce risk, it can become a source of cash.” Meanwhile, the dollar exchange rate is on track for a second consecutive week of gains. Since last week’s Federal Reserve meeting, the dollar has appreciated by 1.7% against other currencies.

Foresight News reports, according to CoinAnk data, approximately $972 million in liquidations occurred across the entire network in the past 24 hours. Long positions were liquidated for about $774 million, and short positions for about $198 million. Among them, Bitcoin saw around $450 million in liquidations, and Ethereum approximately $254 million.

```htmlGolden Ten Data reported on June 26 that international gold prices have been continuously correcting recently, at one point falling below the $4000 mark. Visiting the Shuibei market in Shenzhen revealed that market foot traffic has remained strong since the Dragon Boat Festival, but there is a strong wait-and-see sentiment. Merchants stated that compared to last year's hot sales when gold prices surged, overall sales volume has fallen significantly, with transaction scale less than half of last year's. Consumers who previously bought gold at high prices are now much less willing to make new purchases. Most consumers still believe that the current price is too high, with their ideal purchase price around 500 yuan per gram. Due to gold price volatility, even those interested in buying gold only choose small pendants for personal wear, and are hesitant to stockpile large amounts.```