Trump angrily denounces data fabrication! Is the market facing a political nuclear bomb?
The crypto market is affected, with $BTC falling below the $110,000 mark!
Trump stormed at a North Carolina campaign rally, accusing the US Department of Labor of "falsifying non-farm payroll data" and calling the loss of 818,000 jobs an economic scam by the Biden administration. This political feud directly detonated the market: Bitcoin plummeted $1,500 in an hour, breaking the $110,000 support level, leaving $113,000 as the last line of defense for bulls.
If the employment data is fake, would the Federal Reserve dare to cut interest rates so easily? Institutional investors quickly retreated. The US government's plan to sell 69,000 BTC seized from Silk Road further slammed the market. BTC ETFs saw $569 million in outflows in a single day, reaching a three-month high. Retail investors are faced with a dilemma: should they buy the dip in Trump-themed coins or cut their losses?
The market is caught in a dilemma: If he's elected and promotes Bitcoin as a strategic reserve, institutional funds could pour in; if data fabrication is confirmed, the Fed's postponement of rate cuts would severely impact safe-haven assets.
BTC is currently fluctuating around 113,000. If it falls below 110,000, the next target would be 105,000. Trump's next move will determine the market's trajectory. If he continues to criticize data fabrication, the market could continue to fall due to policy uncertainty. If he shifts to economic commitments and announces a Bitcoin reserve plan, it could trigger a surge.
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