Wall Street Community Live: Will the United States Sell a Large Amount of Bitcoin? Will prices continue to plummet?

Click on the link to enter the meeting: https://meeting.tencent.com/p/7277739262 On October 17th, the cryptocurrency market experienced a significant decline, mainly due to the rising macro market risk aversion and structural issues within the cryptocurrency market. The Chen Zhi incident: Although the direct news event did not explicitly mention that the confiscation of Chen Zhi's Bitcoin was the reason for this decline, the market is concerned about the potential selling pressure that may arise from the US government holding a large amount of Bitcoin. 1、 Macro market environment 1. Risks in the US banking industry: Regional banks are embroiled in credit fraud incidents, raising concerns in the market about the stability of the financial system. 2. US government shutdown: The ongoing government shutdown and delayed release of key economic data have exacerbated market uncertainty and risk aversion. 3. Trade tensions: There have been new setbacks in China US trade relations, affecting global risk appetite. 2、 Internal factors of cryptocurrency 1. High leverage liquidation: There is high leverage trading in the market, and the price drop triggers the forced liquidation of a large number of leveraged positions, resulting in a decline, liquidation, and sell-off. A vicious cycle of further decline. 2. Key technical level: Bitcoin fell below key support levels such as $107000, intensifying technical selling in the market. 3. The US government holds a large amount of Bitcoin: The market is concerned that the huge amount of Bitcoin confiscated by the US government may be sold in the future, posing potential pressure on the market. The above are the factors contributing to the recent decline. The latest market developments and market predictions are currently being live streamed Tencent Meeting Live: 727-773-9262 QQ group number: 936313157 Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.