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The reason for last night's crash has been identified; it was all due to one statement from Trump.
He said that China and the U.S. did not reach any major technology agreements, and the previously rumored chip relaxations and tech cooperation are all off the table. As a result, both the U.S. stock market and the crypto market plummeted together, with BTC dropping directly from 82,000 to around 79,000, hitting a low of 78,850, a drop of over $3,000 in 24 hours. Ethereum also fell to $2,221, and altcoins collapsed along with it. The entire network experienced over $530 million in liquidations, and many people lost everything overnight.
Going forward, risk assets are likely to remain under pressure, with a short-term bearish outlook. $BTC #Gate广场五月交易分享