Viewpoint: The sharp decline in the US stock market has caused BTC to fall below the key support level of $80000, and DOGE may be one of the reasons for the economic recession

Odaily Planet Daily News: Due to a new round of selling on Wall Street, the stock market has suffered a blow, with Bitcoin falling below the key support level of $80000 and approaching the low point of $78000. Investors have begun to shift their risk assets to safe assets. Analysis firm Kobeissi stated that the US Department of Efficiency (DOGE) cutting government spending is one of the reasons for the economic recession. They believe that US government spending and job growth have been "driving" economic development, but DOGE's cost cuts will have far-reaching effects, and it is currently unclear where BTC price trends may form a more reliable bottom. （Cointelegraph）