December 20, 2024, Friday, is destined to be a black Friday, and also a dark day for many friends in the cryptocurrency circle. We thought that the decline on the 19th was enough. Who could have expected that every time we wanted to make a big move when Trump came to power, Powell would make a big move on us first, leaving us bruised and battered. The losses really made us lose faith, and I also lost a Cullinan today. And tonight I only have one thing in mind: people in the cryptocurrency circle, please pull Powell out and whip his corpse to vent your anger!
First, let's restore the main reasons for this decline:
Now you understand, right? First, this guy said: The Federal Reserve is not allowed to own Bitcoin, and if they do, the law would have to be changed. Isn't it clear that he is saying he will never support or buy Bitcoin? But what does this mean? This is actually trivial, as the market digested this in just one day. However, what is most heartbreaking is that he said the Federal Reserve is currently at or near a point of slowing down interest rate cuts. What does this mean? It means the rate cuts have come to an end, and previously stating that the target for the federal funds rate should be controlled below 2% really slaps us in the face!
The Federal Reserve is currently at or near a point of slowing down interest rate cuts, which largely indicates that the federal funds rate range will likely be around 3%. Previously stating it should be controlled below 2% has significantly lowered many people's expectations, and has caused large capital, major institutions, and whales to suddenly have much lower expectations for this round of bull market, resulting in today's market crying out in despair.
The derivatives settlement in December represents the largest liquidation in the history of the cryptocurrency market. I don't know if Powell is giving Trump, who is about to take office, a warning, or if it's the interest community behind Wall Street capital, or if it's just that every time a crazy bull market breaks out, there will be a wave of deep cleansing. But regardless, Powell, you handling this in December is disrespectful to Trump and unfriendly to the cryptocurrency market. It's only a matter of time before Trump takes you down!
I really think that even if you pull someone out of a coffin, it won't be enough to vent the anger of those supporting Trump and Bitcoin as a strategic reserve currency. You have become the first opponent to be eliminated since Trump took office.
Now I want to ask you:
U.S. debt exceeds 36.5 trillion. How do you plan to resolve this?
With interest rate cuts causing capital outflows, isn't the cryptocurrency market the best reservoir?
The status of the dollar is declining. What do you plan to let Wall Street use to manage global wealth in the future?
You can die a hundred deaths, but will you have Trump, this 78-year-old man, help you clean up the mess?
Lastly, many of the views in this text represent my personal understanding and judgment of the market, and do not constitute investment advice for you. If you have different views, feel free to discuss.
