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As expected, the thunder is loud but the rain is light. The White House cryptocurrency summit was full of clichés. Trump said: In the future, the government will store its cryptocurrency assets in a new U.S. digital asset vault. U.S. Treasury Secretary Scott Bessent said: We will end the regulatory crackdown on cryptocurrency assets. Is that all?
Then this morning, the market responded with a decline. Market data shows that BTC fell below 86,000 USDT, currently reported at 85,980.8 USDT, with a 24H decline of 3.69%. Coinglass data shows that in the past 4 hours, the total liquidation across the network reached 158 million dollars, with long positions liquidating 97.1308 million dollars and short positions liquidating 60.4324 million dollars. The long-side traders, who had been eagerly waiting for the 78-year-old to pump the market, are now crying in the bathroom. If nothing unexpected happens, after Asia wakes up, there will likely be panic selling leading to another drop.
David Sacks, the White House's cryptocurrency and AI chief, stated before the cryptocurrency summit: "There has been no discussion about selling reserve assets like gold to buy more Bitcoin, but we are willing to purchase more Bitcoin in a budget-neutral manner. This decision will be made by the Secretary of the Treasury and the Secretary of Commerce." In summary, it confirms that there are no plans to spend money to buy Bitcoin as a strategic reserve.
When it rains, it pours. Last night, hackers came to add to the chaos. Community news: Odinfun is suspected to have been hacked, with multiple users reporting that they can no longer withdraw funds. The security issues in the blockchain have once again caused concern.
Community members have posted: It is recommended that those with BTC on Odinfun withdraw quickly. Yesterday, there was no hash record for the deposit of 74 BTC on the mainnet, and Odin's existing deposit is only 88 BTC, so it is highly likely that the platform has been hacked.
In addition, multiple community members have reported that BTC withdrawals from Odinfun are temporarily unavailable.
In summary, the White House cryptocurrency summit has concluded. The major favorable news that everyone has been eagerly anticipating has landed. Are we satisfied? To be honest, the short-term trend ahead is a bit concerning.
$BTC
{future}(BTCUSDT)
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