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Why did BTC suddenly plummet today?
On the news front, MicroStrategy's CEO Michael Saylor has sent out mixed signals — they might adjust their Bitcoin position. The amount of Bitcoin this company holds is well-known, and if they really sell, the market will definitely shake.
It's not just BTC that is bleeding; ETH and BNB are also suffering. This wave of correlated decline indicates that investors are quite sensitive to the movements of large holders, and their risk appetite has cooled instantly.
The key now is to see whether Saylor will really take action later, and whether other institutions will follow suit. In the short term, market sentiment is expected to remain under pressure.