A post by @WuBlockchain on X.

Coinbase Institutional attributed bitcoin’s recent price decline primarily to shifting Federal Reserve rate expectations rather than the Binance hack, according to a WuBlockchain report citing the firm’s weekly research. The report pointed to October nonfarm payrolls data as a key driver of the changed rate outlook. The assessment downplays the exchange-security incident as a market-moving event and instead frames macro policy repricing as the dominant force behind bitcoin’s drop. The takeaway matters because it suggests crypto prices remain highly sensitive to U.S. monetary policy signals even when major industry-specific shocks occur. What to watch next is incoming U.S. labor and inflation data, which will shape Fed rate expectations and, by extension, bitcoin’s near-term direction.