[Wintermute: Bitcoin Drops Below $80,000 Due to Three Factors] Wintermute stated that Bitcoin's price fell below $80,000 for the first time since April 2025, triggering a record-breaking $2.55 billion liquidation over the weekend, marking the tenth-largest liquidation event in cryptocurrency history. This decline was driven by three factors: the underperformance of Mag7 tech giants, the nomination of Kevin Warsh as Federal Reserve Chair causing policy uncertainty, and sharp adjustments in the precious metals market. Analysts noted that this downturn stems from macroeconomic trends and market sentiment fluctuations. However, the cryptocurrency industry's infrastructure remains relatively stable, and the market is expected to recover in the second half of 2026.