Market Analysis:

Since last night until this morning, the crypto market has failed to stop falling, and there has been no expected technical rebound, indicating that this downward wave driven by macro factors and amplified internal vulnerabilities is still ongoing.

The truth behind the continued decline: 1. The Federal Reserve's policy expectations are completely chaotic. Trump claims "Powell will be the greatest Fed Chair and will cut rates," while Powell's hawkish stance (opposing quantitative easing and emphasizing monetary discipline) remains unchanged. The market has no clear policy direction, and funds are completely withdrawing from risk assets. The probability of a rate cut in March remains at 13.5% with no sign of warming;

2. Over the weekend, liquidity dried up, and high leverage led to a series of liquidations, triggering a "liquidity shock" and forming a death spiral;

3. The decline of precious metals continues, the risk asset siphoning effect intensifies, CME raises gold and silver trading margin requirements, further triggering sell-offs. Traditional safe-haven assets are still under pressure, and crypto, as a high-risk asset, is being decisively abandoned by funds.

4. BTC spot ETF has experienced net outflows for three consecutive months. BlackRock IBIT and Grayscale GBTC continue large redemptions. Institutions are exiting, retail investors lack the capacity to absorb, and prices are freely falling under selling pressure.

5. The White House crypto industry meeting is scheduled for February 2. There are significant disagreements between the banking sector and the crypto industry on stablecoin rewards and regulatory rules. No compromise has been reached in previous negotiations. Market concerns about stricter regulation and funds preemptively avoiding policy uncertainties.

Operational Advice: Always move quickly in and out!
Special Reminder:
Clear all leverage! Be patient! #加密市场回调 #贵金属行情下跌 #GateLive直播挖矿公测开启 #加密市场结构法案出现转机 $BTC