Federal Reserve Chairman Powell's statement caused over 200,000 people to be liquidated, with contracts losing over 4.4 billion

Powell stated that the agency has no intention of participating in any plans for the government to hoard large amounts of cryptocurrency

As soon as the news broke, the crypto market plummeted

Counting the previous two declines, this is already the third time

Moreover, the previous two sharp drops have already consumed a large amount of buying interest

So after this sharp drop, there hasn't been a noticeable influx of funds, leading to a weak rebound

It effectively buried the funds that were trying to catch the bottom

In the short term, to regain strength, new policy measures are needed to stimulate the market

Those who have experienced it know

Altcoins often leverage contracts before violent surges

So the market is likely to use Powell's statement to conduct a fierce washout of altcoins before the bull market

If there is still capital, now is the best time for you to enter the market

The bull market is still on.