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Why Powell's Dovish Speech Couldn't Support Cryptocurrency Prices? Deep Reflections Behind Bitcoin's 'Stubborn Decline'
Bitcoin's price briefly rose after Powell's dovish speech, but then experienced a significant drop, falling below $111,000.
Market analysis suggests that the sharp decline may be related to large whales selling off or massive forced liquidations, highlighting the low liquidity in the Bitcoin market and its susceptibility to manipulation by individual large players. Despite an optimistic macro environment, Bitcoin's price still shows irrational volatility, failing to maintain a positive influence from monetary policy.
At the same time, the altcoin market generally followed the decline, with some institutional investors facing substantial losses. Although Powell's speech was interpreted as a signal for monetary policy easing, there are discrepancies in the market's interpretation of its specific impact, with differences between expectations and actual situations exacerbating price fluctuations.
#BTC☀️
Bitcoin's price briefly rose after Powell's dovish speech, but then experienced a significant drop, falling below $111,000.
Market analysis suggests that the sharp decline may be related to large whales selling off or massive forced liquidations, highlighting the low liquidity in the Bitcoin market and its susceptibility to manipulation by individual large players. Despite an optimistic macro environment, Bitcoin's price still shows irrational volatility, failing to maintain a positive influence from monetary policy.
At the same time, the altcoin market generally followed the decline, with some institutional investors facing substantial losses. Although Powell's speech was interpreted as a signal for monetary policy easing, there are discrepancies in the market's interpretation of its specific impact, with differences between expectations and actual situations exacerbating price fluctuations.
#BTC☀️
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