$BTC Blood-Red Christmas!!
Attention!!
Powell's two statements have caused a big crash in the market. Can we say that the bull market is about to be ended early by Powell?
Last night, Powell's speech directly caused the market to collapse, and he also stated that the Federal Reserve will not hold Bitcoin and will not change this stance.
Doesn't this directly conflict with Trump's Bitcoin strategic reserve? Moreover, Trump also said a few days ago that he would not dismiss Powell after taking office.
What is going on here?
The second statement is also crucial, directly indicating that there will only be a 50 basis point rate cut next year. The implications of this news for the future are still unclear, but it certainly has a significant negative impact on the current market situation. The big coin has broken 100,000 and is steadily pushing towards 110,000. Trump's Bitcoin reserve plan is also set to explode during the altcoin season. Everyone is passionately trading coins, but Powell has just thrown cold water on it.
As for why the future is unclear, Powell's change of tone is not a one-time occurrence. He said back in November that he would pause the rate cuts, yet they still happened. Regardless, we ultimately still need to see how the U.S. economy performs; if it doesn't improve, rate cuts will still happen.
Therefore, the second half of this month may be tougher to endure. If you are just starting to position yourself now, you need to be careful; those trading short-term contracts will find it even harder.
Of course, if you can't find direction, feel free to reach out to me for advice.
