Gold Ten reported that cryptocurrency dropped after a second assassination attempt against Trump over the weekend, following its breakthrough of the $61,000 mark. The decline was exacerbated by the liquidation of almost $70 million in short positions before the Asian market opened due to insufficient liquidity. Notably, Bitcoin rose 13.8% from $58,000 to $66,000 in the same week on July 13 when the first assassination attempt against Trump failed.

TOKEN2049 is currently underway, and the FOMC meeting is scheduled for Wednesday, September 18. Uncertainty persists regarding whether there will be a 25 basis point or 50 basis point rate cut. As we approach the Fed's first rate cut in this cycle, market tension is escalating, magnifying the impact of any unexpected macroeconomic data. The likelihood of a 50 basis point cut has jumped from 30% on Monday to 59%. This is reflected in the increasing volatility, with Bitcoin's implied volatility rising by 8% and Ethereum's by 20% on Friday.