The downward pressure of US stocks and Grayscale's selling behavior are the main factors leading to the decline in cryptocurrency prices, especially the sharp decline of ETH during the day, which has also had a negative impact on BTC prices, and market sentiment is gradually turning pessimistic.
Despite this, there are still two major hot events this week that may bring opportunities: GDP data released tonight and core PCE economic data tomorrow, as well as the cryptocurrency conference attended by Trump and his relevant congressmen on the 27th.
Overall, the market still needs to remain cautious. Even if there are favorable factors, if the BTC price cannot break through the key position of $70,500 on the daily line, the market may begin to pay attention to the expectation of interest rate cuts, and may face shock adjustments next.
It is particularly important to observe Trump's performance on the 27th. Whether he can put forward views with continuity and market enthusiasm in his speech will have a significant impact on the market.
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