📉 The market has experienced a massive crash in the past few hours! We thought $BTC BTC $97K would hold, but a series of negative events sent the market into panic.
1️⃣ #Trump ’s News: NY court rejected his request to delay sentencing, meaning he might face trial before the election. Additionally, his bold statements about annexing Canada and seizing the Panama Canal shocked the world, worsening market sentiment.
2️⃣ #Musk's ’s Cold Water: Everyone was looking forward to crypto payments on X, but Musk suddenly announced they are not considering it for now, preferring fiat payments, which doused the enthusiasm for crypto payments.
3️⃣ Severe Market Data: In the past 4 hours, a total of $136M was liquidated, with $40M in ETH, $25.1M in BTC, and $6.6M each in DOGE and SOL. Longs suffered the most, accounting for 91.9% of the liquidations, showing the extreme bearish sentiment in the market.
4️⃣ #Fed ’s Stance: The probability of no rate change in January is as high as 95.2%, and the hope for a rate cut by March is also slim, with the market expecting more than 60% chance of keeping rates unchanged.
📊 Short-term Outlook: With so many negative factors, the market is expected to remain volatile in the short term. However, the long-term outlook for cryptocurrency remains positive. Investors need to stay calm and avoid impulsive decisions, especially in contract trading, where risk control is crucial.
