As the stock market was hit by a new round of Wall Street sell-off, Bitcoin fell below the key support level of $80,000 and approached a low of $78,000, investors began to turn risky assets across the board to safe assets. Analytical agency Kobeissi said that the U.S. Department of Efficiency (DOGE) cuts government spending as one of the causes of the recession, they believe that U.S. government spending and job growth have been ‘drive’ economic development, but DOGE’s cost cuts will have far-reaching impacts, and it is unclear where the BTC price movement may form a more reliable bottom.