Many people are in despair! Why did it drop despite the positive news last night? Let me explain:

During a Q&A session with the Federal Reserve, someone asked about $BTC, and

Chairman Powell clearly stated that both he personally and the Federal Reserve do not have a positive view on Bitcoin. They do not consider Bitcoin suitable as a strategic reserve asset.

Although in theory Congress could amend the law to force the Federal Reserve to accept Bitcoin, Chairman Powell hopes that this situation does not occur. In short, Powell and the Federal Reserve have a negative attitude towards Bitcoin and do not wish for it to become an officially recognized reserve asset.

Many people do not understand; after all, the president is the founder of the country, can’t he handle this small matter? Let me put it this way, everyone originally thought it was a 100% chance of winning, but suddenly two villains appeared to oppose you, and your winning rate dropped to 70%. As someone betting on the outcome, do you have to bet on both sides?

Got it? But the drop is so harsh, it's definitely some market manipulators causing trouble!