Bitcoin has dropped below $74,000 as the cryptocurrency market enters a leverage liquidation phase. This decline comes amid broader market concerns over rekindling inflation and prolonged geopolitical conflicts. Federal Reserve Governor Cook has indicated support for further rate hikes if inflation persists, reflecting the Fed's increasing tolerance for high interest rates. Geopolitical tensions remain high, with U.S. military actions against Iran and ongoing conflicts in the Middle East affecting energy supply chains. Meanwhile, the AI and semiconductor sectors continue to attract U.S. equity capital, with SK Hynix's market cap surpassing $1 trillion. However, the AI boom is also contributing to rising global costs, exacerbating inflationary pressures. In the crypto market, significant liquidity accumulation at $75,800 and $77,800 has created resistance zones, and if Bitcoin fails to find support at $70,000, further declines may occur.