Bitcoin
Short

Analysis of the cliff-like decline of Bitcoin.

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The South Dakota State Legislature in the United States killed the HB 1202 bill that allowed the state government to invest in Bitcoin, directly defeating the market's expectations for the entry of institutional funds.

On February 21, the cryptocurrency trading platform Bybit was hacked, involving a huge amount of money, which exacerbated traders' concerns about the industry.

The recent "hawkish" signals of the Federal Reserve have exacerbated market uncertainty, pushed the US dollar index to strengthen, and then suppressed the performance of risky assets, leading to capital flight from the cryptocurrency market.

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