#比特币市场波动观察 Why did it drop so much? There's no need to get too caught up in this anymore; it's already spread throughout the market. Black Thursday began with the Federal Reserve's interest rate cut, followed by Chairman Powell's hawkish speech, and then the late-night sell-off in Mentougou, causing Bitcoin's price to plummet, dropping to a low of 95680 before stabilizing. The current price is around 97700.
In the early morning, it stabilized at 95680 and rebounded to around 98390, but then started to pull back again. The low during the pullback did not break 95600, and the high during the rebound did not exceed 98390. Therefore, for now, we remain steady around 97700. In this kind of market, contracts can indeed be easily stopped out if the stop loss is set too tight; one or two thousand points can disappear in the blink of an eye. If set too loose, just one piece of news can wipe out the entire principal... Today is Friday, and we cannot rule out a black swan event. Currently, whether the hourly chart can form a W pattern is yet to be observed, with resistance above at $TKO .