Why did the cryptocurrency market collectively crash today?

To put it simply, everyone is nervously watching the Federal Reserve's interest rate meeting, feeling quite anxious!

This time, what everyone is concerned about is not just a mere 0.25% interest rate cut. The more critical question is, how will the dot plot change? What hints will Powell drop?

Currently, there are widespread rumors in the market that the Federal Reserve may only cut rates two to three times by 2025, at most four times, which means interest rates will remain high!

When interest rates are high, those black swan events are more likely to knock on the door, and the easing policies will have to drag on, which makes investors' hearts race, and risk awareness immediately skyrockets!

Also, will the Bank of Japan raise interest rates in December? We need to have some clarity on this today.

Although everyone thinks the possibility of a rate hike is low, the market is now like a startled bird, getting scared at the slightest movement. So investors choose to retreat for now, which is indeed quite wise.

With these two major events today, plus next week's Christmas, the market is likely to be in chaos, and the volatility will be extraordinary...

If you currently feel helpless and confused about trading, and want to learn more about cryptocurrency and get first-hand cutting-edge information, click on my profile and follow me.