Analyst Blames Epstein Files Rumor for Crypto Bloodbath

⚡ KEY TAKEAWAYS

An analyst has linked the latest sharp crypto downturn to the House vote on Epstein files.
He attributes the market turmoil to major players that may be implicated in the files.
The Epstein files may not have as much effect on the market if previous analysts were right.

The crypto market has been in a continuous downward trend for some time now, but it got worse with Bitcoin crashing below $90,000. An analyst has associated this with rumors that the U.S. government is set to release the Epstein Files.

In an analysis on X, the analyst highlighted three reasons that may have caused the crypto crash being witnessed, one of which was the Epstein Files release.

Other reasons he highlighted include Japan bond yield and liquidity crunch resulting from the longest government shutdown in American history.

https://twitter.com/AshCrypto/status/1990706054259487009

Epstein Files Rumors Spark panic

The Epstein Files have a dark secret surrounding them. They allegedly contain a list of celebrities and politicians associated with the late Epstein who was a child sex offender.

As the U.S. House is scheduled to vote for the release of the files today, the analyst says the vote is likely to pass, implication some big names, which is making the market unstable.

This is because decisions that have effects on the market may be postponed or poorly made due to the tension created by the news.

However, even if the vote does not pass, the market still has the other two factors at least to deal with, leaving room for uncertainty.

What Happens Next?

The crypto market was in a turmoil long before news of the Epstein Files release. If the news is responsible for the recent Bitcoin drop however, will things get worse after the vote passes?

Analysts have said the drop could mark the beginning of a reversal, but could also indicate that the bear market is just getting started.

If the latter is true, the Epstein Files may not make much of a difference whether or not they are released, as the market’s fate was determined earlier.