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Is the crypto market wilting?
It turns out to be related to the U.S. government's "money control"! The crypto market has been lackluster lately, and it's not just due to poor market conditions; it actually has to do with the way the U.S. government "manages money"!
In simple terms, the U.S. Treasury currently holds $150 billion more than targeted, which has not been spent; this money is like being temporarily "frozen" and has not flowed into the market. In the crypto market, liquidity is the "living water"; with less living water, the market will naturally wilt. Moreover, he also mentioned that before the government shutdown ends, the market will likely continue to experience fluctuations!
What struck me the most was his reminder for everyone not to panic. The current weakness in the market shouldn't be mistaken for a peak, so don't sell off recklessly. After all, the U.S. not only has to issue $2 trillion each year for government use but also needs to issue several trillion more to pay off old debts. The subsequent invisible "liquidity" might come soon. It's like when we temporarily have no money to spend but know that our salary or bonus will be credited soon. There's no need to hastily deal with our assets just because we are temporarily tight on cash.
Starting from 1101 on Monday morning 📉 to 989, currently fluctuating around 10w! #BTC