What is the reason for the market crash?

少年哥行独伴大道 · 2023-06-10T09:28:49.000Z

From a technical perspective, Bitcoin's weekly cross is a dead cross, which is a bearish signal in the midline, which means that this adjustment cycle is measured in weeks. Judging from the news, the SEC has launched lawsuits against Binance and Coinbase. This is certainly not a personal act of anger by the SEC chairman, although various big Vs on Twitter are scolding him and exposing various scandals about him. Once the SEC initiates a lawsuit, among other things, currencies recognized as securities by the SEC will definitely be gradually delisted. Coinbase has made a strong statement that it will not be delisted, but other US exchanges will definitely be gradually delisted because of concerns. I will be targeted by the SEC, and Coinbase has been targeted, and delisting it will not work. It is reasonable for Robinhood to delist ADA and other currencies, and Robinhood is definitely not the last one. Those who are worried about being targeted by the SEC are still worried about it. There are many. In addition, many institutions that need to comply with regulations have to sell and no longer purchase these currencies because the SEC has determined that these currencies are securities. This series of results resulted in a large number of coins being forced to sell, and a plunge was inevitable. Regarding SEC Chairman Gary Gensler, many people are puzzled by the fact that he was a supporter of cryptocurrency a few years ago, but now he is vigorously cracking down on cryptocurrency. Some people even made it into a story that he loved it but had to destroy it in the end. , after all, Gary Gensler wanted to join Binance a few years ago, but in the end he became the SEC chairman by mistake. In fact, no matter who is replaced, the SEC will definitely take action to crack down on cryptocurrency, because at this stage, the most important thing for the U.S. government is to protect U.S. debt. In the next few months, the U.S. government will need to borrow tens of thousands of dollars. Billions of dollars in U.S. debt, and the consecutive collapses of U.S. commercial banks in the first quarter have prompted many people to start buying Bitcoin. The U.S. government needs to find ways to divert funds to buy treasury bonds, so it is normal for the SEC to take action recently. At the same time, the issuance of trillions of U.S. debt in the next few months will also reduce the circulation of U.S. dollars. So much money is suddenly missing from the market. Although not much is allocated to the currency circle, the reduction in the amount of funds will inevitably cause a market decline. fell.

From a technical perspective, BTC’s weekly line has formed a death cross, which is a bearish signal in the medium term, which means that this adjustment cycle is in weeks.
From the news, the SEC has filed lawsuits against Binance and Coinbase. This is definitely not the SEC Chairman's personal act of anger, although various big Vs on Twitter are scolding him and exposing his various scandals. Once the SEC files a lawsuit, apart from anything else, the currencies identified as securities by the SEC will definitely be gradually delisted. Coinbase has made a strong statement that it will not be delisted, but other US exchanges will definitely be delisted gradually because they are worried that they will be targeted by the SEC. Coinbase has been targeted, and delisting will not work. It is reasonable for Robinhood to delist currencies such as ADA, and Robinhood is definitely not the last one. There are many more who are worried about being targeted by the SEC. In addition, many institutions that need to comply with regulations have to sell and no longer buy these currencies because the SEC has identified these currencies as securities. This series of results has led to a large number of coins being forced to sell, and a sharp drop is inevitable. Many people are puzzled by the fact that SEC Chairman Gary Gensler was a supporter of cryptocurrencies a few years ago, but is now trying hard to crack down on cryptocurrencies. Some people even made up a story that he loved it but couldn't get it, and finally wanted to destroy it. After all, Gary Gensler wanted to join Binance a few years ago, but in the end, he became the chairman of the SEC by mistake. In fact, no matter who is replaced, the SEC will definitely take action to crack down on cryptocurrencies, because at this stage, the most important thing for the US government is to protect US debt. In the next few months, the US government needs to borrow trillions of US dollars in US debt, and the continuous collapse of US commercial banks in the first quarter has caused many people to start buying Bitcoin. The US government needs to find a way to drive funds to buy treasury bonds. Therefore, it is normal for the SEC to take action frequently recently. At the same time, the issuance of trillions of US debt in the next few months will also reduce the circulation of US dollars. There is so much less money on the market at once. Although not much is allocated to the currency circle, the reduction in the amount of funds will inevitably cause the market to fall.