Reasons for the sharp decline, exclusive analysis by Wu Yue
(1) September interest rate cut, some funds believe the good news has been fully priced in, so they took profits
Early investors in BlackRock ETF are selling recently
(2) Trump dismissed Fed Governor Cook yesterday, causing a major market shock
This unprecedented move marks a significant escalation in his attack on the Federal Reserve, and the market is worried that this will threaten the Fed's independence, leading to a sharp decline in US stocks. After this news broke yesterday, BTC also dropped somewhat
There are also other chaotic operations, such as possibly renaming the Department of Defense to the Department of War in the next few days,
causing some panic withdrawals in the market.
(3) The coin WLFI released by the Trump family has plummeted, triggering a market downturn
The coin released by the Trump family, this is the third one,
It plummeted after being listed on the exchange, causing a decline in market confidence and leading to BTC dropping as well.
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