Crypto Markets Fall After Failed Trump Assassination Attempt and Long Position Liquidations

According to Wu, QCP Capital reported that the second failed assassination attempt on former President Trump, along with the liquidation of $70 million in long positions, led to a downturn in the crypto market. This event contrasts with the market rally seen after a similar incident in July.The upcoming TOKEN2049 event and the Federal Open Market Committee (FOMC) meeting add further uncertainty to the market this week. Expectations for a 50 basis point rate cut have surged to 59%, driving increased volatility. The implied volatility for Bitcoin (BTC) and Ethereum (ETH) futures jumped by 8% and 20%, respectively.