The reason for Bitcoin's sharp decline has been found! A drop of $6,000 overnight, over 300,000 people liquidated, who is the mastermind behind it?
In the past few days, the global capital markets have been in chaos, whether it's the US stock market or the cryptocurrency space, investors' wallets are shaking with fear. In the US stock market, the S&P 500 index fell by 0.09% last night, the Nasdaq index dropped by 0.10%, and the storage chip giant Micron plummeted by 16%.
In the cryptocurrency space, the situation is even more tragic, with a widespread plunge. Bitcoin's price fell below $100,000 per coin this Thursday, briefly dropping below $96,000 per coin. According to Coinglass, over 300,000 people were liquidated in the cryptocurrency market in the past 24 hours.
The culprit is actually Federal Reserve Chairman Powell, whose few words directly knocked the market down. What exactly did he say?
① The Federal Reserve has no intention of hoarding Bitcoin;
② Slowing the rate of interest rate cuts next year, lowering from 100 to 50;
③ Raising inflation expectations, lowering unemployment expectations, and hinting that interest rate cuts will slow down.
However, how should we put it? There is no asset that rises forever. Powell's remarks cannot stop the wheels of history. The wave of cryptocurrencies led by Bitcoin has arrived. Manage your positions well, avoid trading contracts, buy big on big dips, buy small on small dips, and hold on for steady happiness.
