What the hell, this little drop is called a crash! Just sprinkle some water and start yelling, how can you call yourself a master of the Chan theory? Reflect on it some more.

At 3 a.m. today, Federal Reserve Chairman Jerome Powell's speech caused huge fluctuations in global financial markets. The content of his speech not only concerns the future direction of the U.S. economy but also directly affects the cryptocurrency market, leading to a sudden drop in the prices of Bitcoin and other cryptocurrencies.
Key points of Powell's speech
Powell emphasized the Federal Reserve's confidence in future inflation targets during his speech. He stated that despite facing numerous uncertainties, the Federal Reserve is confident that inflation will sustainably return to the 2% target level. This indicates that the tightening monetary policy has already achieved initial results, helping to restore the balance between total supply and total demand, alleviate inflationary pressures, and maintain stable inflation expectations.