Perhaps 2026 will be the worst year in history. Under Powell’s leadership, the Fed raised interest rates, maintaining a high-rate environment. The Crypto Clarification Act failed to pass in Congress, leaving legislation unfulfilled. The midterm elections resulted in Democrats winning control of both chambers, creating a divided government. The AI market reached bubble levels, with the compute logic facing scrutiny. Geopolitical tensions in the Middle East repeatedly disrupted all risk assets. Ongoing instability in the Middle East sparked rumors that the U.S. might strike Iran. These factors collectively contributed to Bitcoin’s decline.
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