The hidden hand behind the big drop is actually him!
The dream of interest rate cuts has been shattered by poor economic data, and Trump opened his mouth, scaring the market into shivers, causing stock and coin prices to plummet.
1.7 Exciting news came from the U.S., employment data was much better than everyone expected, and service sector prices are rising rapidly. Job vacancies unexpectedly increased by 259,000 in November, bringing the total to 8.098 million.
The ISM non-manufacturing index rose from 52.1 to 54.1, with the price index hitting a new high in 11 months, which means prices will continue to rise. Once this data was released, everyone felt that the Fed's interest rate cut in January was hopeless, and $BTC also took a dive.
Then Trump started to make outrageous statements again, saying a bunch of jaw-dropping plans at the press conference, with American media even calling him the "new imperialism." He claimed that if Denmark didn’t give him Greenland, he would impose super high tariffs on Denmark and even wanted to use economic means to consume Canada. As soon as these ridiculous words were spoken, the market was directly scared out of its wits, and stock prices took another big hit.
Trump seems to be putting on a big show, actually just trying to scare his allies and please the common people at the same time.
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