$BTC
Several reasons for the sharp drop last night
1️⃣The Federal Reserve suddenly announced that the original three interest rate cuts would be reduced to one. The expected discount of the interest rate cut was too large, which led to a direct plunge, but it does not mean that there is no confidence.
2️⃣The three major U.S. stock indexes fell collectively, with the Dow Jones Industrial Average falling by 1.24%, the Nasdaq falling by 1.62%, and the S&P 500 falling by 1.45%. Popular technology stocks fell across the board, with Nvidia, Tesla, and Meta falling by more than 2%, and Microsoft and Google falling by more than 1%, directly leading to the collapse of the currency circle.
3️⃣Bitcoin will be halved in a week, and the positive cashing will turn into negative.
4⃣The contract exploded, there were too many longs, and it would be healthier to wash it. More than 800 million positions were exploded last night.
In short, the position control can be done as long as it is not full, and the spot will give the market time, and the pain is only temporary.
