The sudden market pullback is due to the Federal Reserve's attitude after the interest rate cut, which triggered market panic.

Originally, the market expected a 25 basis point cut, which was not a problem and was actually positive.

However, later statements made one want to directly slap Powell a few times; you’ve already cut rates, yet you’re saying that next year you will control the rate cut to within 50 basis points, which is too far off from the overall market expectations, causing panic to spread rapidly.

Moreover, regarding Bitcoin, it was clearly stated that the Federal Reserve is currently not allowed to hold Bitcoin, as this is determined by law, and there is no intention to actively embrace Bitcoin, as that is a matter for Congress.

Even the stable BlackRock couldn’t hold its ground and quickly released a short video promoting Bitcoin, after all, they hold $57 billion in Bitcoin, even exceeding their holdings of gold.

It seems they also do not wish for the market to pull back too much.

Overall, this pullback is significantly influenced by news and is considered an unexpected situation, as no one could predict that the Federal Reserve would suddenly release such a huge negative signal, leading to a rapid pullback in global capital markets.

However, this market pullback provides a good opportunity for a healthy trend in the future.