Over the past week, everyone following the market’s heartbeat has probably felt it speed up and slow down unpredictably. Some friends and companies I advise are actually quite panicked and anxious—after all, just a month ago, Bitcoin was near the 90,000 mark, but last week it was suddenly driven below 60,000, and recently it has barely stabilized around 70,000.
This is an extremely volatile market that plays with people’s nerves; many are confused: Why has the market suddenly turned like this? What exactly triggered this round of panic and sell-offs?
I think that to explain this story clearly, we need to shift our focus away from the cryptocurrency charts for a moment and take a look at what has happened in the outside world over the past two weeks. Because during these two weeks, several very significant events occurred around the world:
Kevin Warsh was nominated as the next Federal Reserve chairman;
Silver and gold experienced extremely sharp fluctuations after hitting record highs;
Several narratives related to AI erupted simultaneously at the same time;
In the general election held in Japan over the past weekend, Sanae Takagi achieved an overwhelming victory;
Regarding AI, events such as the OpenClaw incident we discussed last week;
And last week's sharp drop in software stocks triggered by the new product launch from Anthropic;
Also, Oracle is planning to lay off 20,000 to 30,000 employees as it prepares for AI data centers.
These events seem disparate...