Interestingly, I saw a sentence "Short $BTC 60000, who would have thought that Trump's assassination would lead to bullish speculation". This is difficult to explain simply, and there is no need to force an explanation.
Events drive the market, and prices rise and fall without reason. Market supply and demand determine prices, and the impact of event emotional fluctuations is short-term and discontinuous.
Before Trump's assassination, market supply and demand changed from shorts to demand-driven oscillations. The price went from 64,000 to 53,000, and a large amount of supply was released. After the decline stopped, the supply on the market was insufficient.
Even if there was no assassination, the price would rebound, but the amplitude was small. Emotions and events cause prices to deviate from the mean in the short term, and the cryptocurrency market amplifies this effect, causing emotions to strengthen. The German government's selling caused prices to fall, and the assassination news caused prices to rise.
Over time, supply and demand return to normal. In the early stage of the event, we should respect the market and follow the emotions. After the impact dissipates and the emotions are released, we should follow the market to restore the mean.
The price trend is rational, and short-term fluctuations are irrational. Following the big trend and going against the small trend are the means of surviving the market cycle.