#川普都救不了的比特币，到底怎么了？

Last night: Bitcoin fell below the price during last April's trade war.

During the trade war, at least we knew why it was falling; this time, we can't even find the reason.

Looking at the market, I noticed several details that are quite alarming:

U.S. stock futures were fine before the market opened, and they were rising at first, then suddenly started dropping all the way down. Asian and European investors didn't sell much; the problem lies within the U.S. domestic market.

What does this indicate? Even Americans are starting to doubt.

Even more concerning is liquidity. I checked the turnover data, and there isn't much selling pressure; mainly short-term investors are fleeing, while seasoned traders are still holding on. But just this small amount of selling is enough to crush the price like this.

What does this mean? No one is willing to buy the dip.

It's like shouting in an empty room—you can't even hear an echo. That's exactly how the current Bitcoin market feels: liquidity is so poor it's suffocating.

Any slight disturbance causes the price to swing like a roller coaster.

Some say it's due to the U.S. government shutdown; the House just voted to pass the funding bill, which is now sent to Trump for signing. If that's the real reason, it's straightforward.

But I'm worried—what if it's not?

If even Trump's Bitcoin strategic reserves can't save this market, what can we rely on?

The Nasdaq has already dropped 2.5%, and the entire market is questioning everything.

This is the reality: no matter how bullish the story or how great the positive news, in the face of liquidity exhaustion, they are all just paper tigers.

The market doesn't lie; the chip structure still looks normal, but there's too little buying volume. It's like a theater with no audience—no matter how hard the actors try, it’s useless.

We'll know the truth once the data comes out tomorrow. But one thing is certain: this market is much more fragile than we imagined. #加密市场隔夜V型震荡 $BTC