The government shutdown is over, so why is the market still in this state of fall?

This morning I woke up and saw that the crypto market experienced a waterfall, with BTC falling back below 100,000, and altcoins bleeding heavily. In fact, this plunge has nothing to do with the fundamentals; it’s just a combination of macro uncertainty, panic emotions, and leveraged liquidations.

The end of the government shutdown is clearly a positive development, but the key data such as employment, CPI, and non-farm payrolls that were delayed are either missing or late, leaving the market without a pricing basis and causing expectations to become chaotic. Furthermore, with interest rate cuts in December still far away and hawkish voices within the Federal Reserve, it's impossible to confirm whether the economy is cooling through data. It is also understandable that tech stocks and cryptocurrencies have seen a fall.

Now everyone is panicking and fleeing, liquidity is poor, and no one is willing to take over, causing a steeper fall. But to be honest, this wave of bottom testing is quite necessary, it clears out the leverage and washes out the emotions, the medium-term trend is still healthy. After all, the market is currently in extreme panic, historically, 80% of the time during such periods will rebound, and the expectation of interest rate cuts in December is still there. Moreover, Bitcoin is now dominated by spot trading, not supported by leverage.

So don't panic too much, all falls are for a better rise. Now, keep a steady mindset, manage your positions well, and just wait patiently. Respect the market but don't be swayed by short-term fluctuations.
#btc #eth #ltc