As a long-term participant in the encryption currency market, I have witnessed many significant events in this field. From the well-known "312" big dump in the crypto circle to important moments like "519" and "84", the market has experienced extreme fluctuations. I personally experienced the impact of Brexit on the global financial market, witnessed the collapse of the Luna project and the bankruptcy of Three Arrows Capital, all of which have had a profound impact on the encryption currency ecosystem.

The sudden collapse of the FTX exchange shocked the entire industry, leading to a series of exchanges being forced to withdraw users. At the same time, the mining industry was also severely impacted and had to carry out large-scale withdrawals. Multiple departments of the Chinese government jointly issued a statement, further tightening regulations on encryption.

The turmoil in the global financial markets also affects the development of encryption currencies. The US stock market has triggered the circuit breaker mechanism multiple times, and the war in Ukraine and the conflicts in the Middle East have intensified geopolitical risks. The market operations of Grayscale Trust, various governments, large miners, and whale investors have all had a significant impact on coin prices. The Federal Reserve's continued interest rate hike policy has further brought long-term pressure to the market.

The circuit breakers in the Japanese and South Korean stock markets further reflect the fragility of the global financial markets. These events are interconnected, outlining the turbulent history of the encryption market over the past few years. Despite the challenges, this emerging market has demonstrated strong resilience, continuing to attract the attention of global investors.