**Telegram CEO Arrest Sparks Market Volatility; Fed Rate Cut Expected to Boost Crypto Prices**

The arrest of Telegram CEO Pavel Durov led to a 23% price drop over 12 days from late August to early September, significantly increasing market volatility. Although volatility has since stabilized, future Telegram-related news could continue to impact short-term price movements.

Sharpe Ratio analysis reveals that prices have corrected from previous overvaluation levels. Additionally, the correlation between Bitcoin (BTC) and Telegram Open Network (TON) has reached 50%, indicating a moderate relationship.

The U.S. Federal Reserve's recent 50 basis point rate cut is anticipated to inject liquidity into the crypto market, potentially driving prices higher as we approach the final quarter of the year. However, the upcoming U.S. election poses potential risks that could exert downward pressure on the market.