This drop is not surprising at all.
The cryptocurrency market has never been about the present, but rather about trading on "expectations" in advance.
Over the past few weeks, market sentiment has been overly exuberant, with leverage piled up to the sky; just a slight breeze can trigger a liquidation.
And now, the only core logic everyone is focused on is: interest rate cuts.
Why are interest rate cuts important?
Because interest rate cuts = lower financing costs = liquidity returning = more people with money to buy in.
The market's short-term sell-off is just to clean up the "cheap chips" before the real liquidity release.
You think it's a drop, while the manipulators think it's a lane change.
You think it's panic, but smart money is calculating how much to buy next.
In the cryptocurrency market, it's always about expectations, not prices.
When expectations are fulfilled, the good news runs out, and that's bad news~