Bitcoin and Ether experienced a major crash, with Bitcoin dropping to $80,000 and Ether falling below $2,000. This sell-off was unexpected as it came after the announcement of the Strategic Bitcoin Reserve by Donald Trump. Traders were hoping for a bullish rally but instead, the market reacted negatively. The Executive Order confirmed the US government's plan to stockpile Bitcoin, but there is currently no new funding for purchases. Traders were disappointed by the lack of new demand and started pricing in more downside risk. Additionally, the broader economic picture is concerning, with the US facing a significant debt refinancing problem and the need for lower interest rates. All of these factors have caused traders to brace for a recession. Despite the market crash, El Salvador continued to buy Bitcoin, increasing its daily purchase. Overall, the only potential solution for the market now seems to be a rate cut, which would likely only occur in the event of a recession.



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