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Why does the price drop every time the Bitcoin conference comes around? Simply put, it’s not the conference itself that has problems, but the market has already fully priced in various favorable factors before the meeting. Everything from who is going to speak, which institutions are entering the market, to which politicians are making statements has already been preemptively rallied. As a result, when the actual conference days arrive, it becomes a good opportunity for major players to offload and for retail investors to cash in on profits—like during the 2019 conference when the price dropped 10%, and then plummeted another 24% a month later; in 2022, it dropped 1% during the conference, and then crashed 29% the following month; even in 2024, when Trump himself stated the intention to build a national Bitcoin reserve, it still couldn't hold up, and a few days later, there was a 20% drop. This is what is called 'good news turning into bad news', which has become a nearly annual 'Bitcoin conference curse' in recent years.#比特币2025大会 But this year is different. On one hand, Vice President Vance is personally supporting it; on the other hand, there are indeed institutions continuously entering the market, ETFs have been approved, and even banks are buying mining stocks, which doesn’t just look like empty slogans. However, the problem is that Bitcoin is now standing at a high of $110,000, and many people are already quite satisfied with their gains, only needing a step down to exit. So whether this time will break the curse or see another wave of 'death by exposure' really depends on whether there is new capital and confident people stepping in behind the scenes, rather than just who is speaking louder on stage. Ultimately, Bitcoin has never feared the holding of conferences, but rather human greed and fear; if this time it can truly rise instead of fall, it will rely not on lights and applause, but on consensus, patience, and real buying power.#山寨币热点