The capital market is currently facing an unprecedented 'stock market crash' impact. The Shanghai Composite Index plunged after opening, eventually closing down 7%, while the Hang Seng Index suffered a heavy drop of 11%, with the Hong Kong financial market in disarray. Across the ocean, Nasdaq futures continued to decline by 4.6%, and European and Japanese stock markets also fell sharply. Moreover, the commodity market and the cryptocurrency sector have not escaped either, with almost all tradable assets experiencing a catastrophic decline.

The series of policies implemented by Trump is like a malignant tumor, continuously eroding the healthy body of the global economy and disrupting the original economic order. According to his usual style, he is very likely to shift the blame onto China and the European Union while also criticizing the Federal Reserve's policy operations.

Federal Reserve Chairman Powell has been pushed to the forefront. In the face of such a serious market crash, the Federal Reserve has the responsibility to stabilize market sentiment and restore investor confidence. If the Federal Reserve chooses to remain inactive and allows the crisis to fester, Powell will undoubtedly become the target of criticism from all sides in the market.

Bitcoin, as a high-risk asset, also cannot escape misfortune under the shadow of market panic. From a high of $109,998 in January, it has plummeted to $76,085, a drop of nearly 30%.

In the short term, $76,000 has become an important support line for Bitcoin. Once this threshold is breached, Bitcoin is very likely to continue to drop to $72,000, or even lower.

I didn't expect Ethereum to be at $1,500 so soon; the $4,000 Ethereum feels like a distant memory. Will we really see Ethereum drop to three-digit prices?