🚨 The US stock market has seen a huge evaporation, can Bitcoin hold its ground?

😰 The recent turmoil in the stock market is worrisome! Overnight, the US stock market lost as much as $1.05 trillion in market value, setting a record for the largest single-day drop in recent years. Weak economic indicators and the struggles of major companies have undoubtedly made investors anxious.

📈 The Dow Jones Industrial Average faced a heavy blow at the opening, closing down more than 2%. The trigger for this sharp decline was the poor manufacturing data, which has shown contraction for five consecutive months. The S&P 500 also dropped about 2.4%, with technology stocks being the hardest hit, and Nvidia's stock plummeting by 9.5%.

📊 The Nasdaq Composite Index's decline reached nearly 3.5%, marking the most devastating day since early August. Due to the significant weight of technology stocks, especially the collapse of Nvidia's stock price, this index suffered severe damage.

🔍 However, amidst the chaos in the stock market, cryptocurrencies like Bitcoin and Ethereum demonstrated some resilience. Bitcoin's price fell by nearly 3%, to about $56,800, while Ethereum dropped below the $2,500 mark.

🌟 Although the market has performed poorly recently, Bitcoin's market value remains stable at around $1.34 trillion, with an annual return rate exceeding 115%. Despite the unclear market outlook in the short term, some analysts are cautiously optimistic about the upcoming US elections and the repayment plan for FTX creditors amounting to $14.5 billion.

🤔 Currently, investors are focused on the next round of economic reports and the upcoming political events. The $1.05 trillion loss in the US stock market highlights the uncertainty, and investors are trying to adapt to the weak economic data and the significant fluctuations in major company stock prices. $SOL $BIFI #英伟达财报 #BNBChainMemeCoin