Federal Reserve Chairman Powell's statement caused over 200,000 people to be liquidated, with contracts liquidated totaling over 4.4 billion
Powell stated that the agency has no intention of participating in any government plan to hoard large amounts of cryptocurrency
As soon as the news broke, the crypto market plummeted
Including the previous two declines, this is already the third time
Moreover, the sharp declines in the first two instances have consumed a large amount of buying power
Therefore, after this sharp decline, there was no significant inflow of funds, resulting in a weak rebound
It's like burying the funds that were trying to catch the bottom
In the short term, to strengthen again, new policy stimuli are needed to boost the market
Those who have experienced it know
Before violent surges in altcoins, there will always be leverage and contracts involved
So the market is highly likely to use Powell's comments to conduct a fierce washout of altcoins before the bull market
If there are still funds, now is the best time for you to enter the market
The bull market is still on.
