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Don't remind me again today

BTC fell below 95k, down 25% from the October high of 126k, nearly erasing the annual rise. The hardest hit in this wave of decline is the ETF exodus—yesterday saw a single-day outflow of 870 million USD, along with 1.3B in Get Liquidated, leading to a depletion of market Liquidity.



The underlying reasons are quite dramatic: Federal Reserve officials have issued more hawkish signals, cooling down the interest rate cut expectations. Tech stocks plunged together, putting pressure on risk assets across the board. More distressingly, MicroStrategy, a company famous for hoarding BTC, is also seeing its stock price decline, with its market value now close to falling below the value of its Bitcoin holdings (approximately 61 billion USD).

Michael Saylor came out to save the situation, saying the company is buying a large amount of BTC and urging all investors to HODL. But with the market like this, is there really anyone who still believes? Next, let's see if the range of 85k to 90k can hold; otherwise, this could be the beginning of a major trend reversal.
BTC-0.21%
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