**[Opinion: This Decline is a Controlled Deleveraging Event in the Cryptocurrency Market]** Odaily Planet Daily reported that regarding yesterday's sharp drop in the crypto market, several institutional analysts believe this reflects a deleveraging process in the market. Griffin Sears, Global Head of Derivatives at FalconX, stated that the latest downturn is a controlled deleveraging event in the cryptocurrency market. However, compared to a year ago, the increase in leverage in the crypto market still leaves ample room for unusually large fluctuations. Chris Newhouse, Director of Research at decentralized finance research firm Ergonia, noted that Ethereum's sharp decline reflects excessive leverage encountering insufficient liquidity, rather than any fundamental catalyst. Caroline Mauron, Co-Founder of Orbit Markets, believes the market is consolidating after yesterday's significant pullback, but sentiment still feels quite tense. If Bitcoin falls below $110,000 or Ethereum drops below $4,000, it could trigger further sell-offs. (Jin10)