In fact, it's not just the exchanges; even in the data of the $BTC spot ETF, we can clearly see a significant decline in purchasing power over the past week. There have been signs of net outflows for three consecutive working days, and the outflow volume is quite high. Combined with the macro information mentioned earlier, the expectation of an economic downturn has led to a pessimistic sentiment among investors, including BlackRock, and this sentiment reversal currently relies on Trump.

If Trump cannot address investors' concerns about the economy, not only Bitcoin but also the performance of the U.S. stock market may not be very favorable. As of the close on Tuesday morning, the average decline in U.S. stocks was over 0.5%. Therefore, on Wednesday morning, Trump released a lot of information to the market, including that the next president might consider Vance as a candidate. This was to balance Trump's erratic statement on Tuesday night about possibly running for election again. Trump has made statements about running for election again twice before, each time resulting in a drop in his approval ratings.

In addition, Trump announced early Wednesday morning that he might distribute dividends to the American public, which instantly reminded the market of the massive liquidity injections in 2021. This is the most direct stimulus for the market. Next, we will see whether investors respond positively to Trump's words and actions after the U.S. stock market opens. From the pre-market data on CME, it appears that Asian investors are showing improved sentiment.

This article is sponsored by #Bitget ｜ @Bitget_zh

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