On May 22, 2025, outside the Trump National Golf Club in Sterling, Virginia, protesters held "Crypto Corruption signs, while inside the club , 220 "whales" holding millions of dollars worth Trump of tokens (TRUMP) were waiting to have dinner with the former president... At the same time, the TRUMP token price staged an absurd roller coaster: At PM Beijing time on the day, the price violently surged from $14 to $16, but fell back to $14 at AM on the 23rd before the dinner even started. Behind this farce, an ultimate game about "market signals" and "played "events is unfolding - does fact change the market, or does the the market fabricate facts? I. Trump Dinner: A Perfect Experiment of "Expectation Overdraft" 1. "FOMO" on the Media Eve of Dinner According to on-chain data, within 48 hours after the dinner TRUMP token trading volume surged by 300%, with 220 "whales" having an average holding cost of $1.78 million, and the token price once soared by 50%. Ironically, when the dinner officially started on the 22nd US time the, already fallen the market had already harvcompleted harvesting in the "narrative". Key Logic Chain - Signal Propagation > Fact Occurrence: price Appears During Message Spread (Beijing Time on 22nd), Not When Event Landing (US Time on 22nd Evening) - Liquidity Trap: Although TRUMP Daily Tradingasses $3.8 Billion, Spot Depth Is Less Than $5 Million, And The Maker Can Control The Market With Just $20 Million,000 2. "Self-Fulfcingilling of Political Narrative The Trump team binds token holdings to political resources (such as White House visit rights), securitizing "social capital". This model depends on continuous hot spot stimulation, and once the narrative stagnates, the price colcollapselap- just as after TRUMP fell again after Democratic Congressman Proposed Banning "Crypto Corruption" on May 23
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II、. You Remember ETF Approval: Information Arbitrage War Behind SEC Website Crash 2024 ETF Craze: Delay, Congestion and Expectation Gap: When the SEC website crashed briefly due to ETnews, the already pricing through "internal leakage 24 , hours in advance, sold on good news Market Rules - Buy Expectation, Sell Fact: When ETF Probability Rises to to 90%, Price%,, increase Has Been Overdrafted 80% - Profit from Information Asymmetry: Bloomberg Predicts Predict Approval Progress Through Documents, While While Retail Investors Are Trapped in "FOMO Chasing-Panic Selling" Cycle III. "Narrative Economics" of Crypto Market: Who Who Is Making Signals? 1. Market Maker, Media and Algorithm "Trinity" - Market Control:: 80% ofATION TRUMP Token Chips Controlled by Trump by Camp, Unlocking Events Can Precisely Manufacture Selling Pressure - MediaIfier:ifier "Breaking News" from Institutions Like Cointelegraph and Bloomberg Often Become Price Manipulation Tools, Such SECDelayed ETF Approval" Causing Panic - Social Algorithm Resonance: Social Platforms AmplIfy fomo Emotions Through Recommendation Algorithms, Forming "Trend Self-Reinforcement" 2. Shift from "-Ation-Driven" to "Signal-Driven" When Market Fluctuations No Longer No Depends on Entity Progress, But on On "pricing of Possibilities", Signals Become Facts. For Example: Trump Tweet: One Sentence "US Willill Become Capital" Make SOL Rise 70% in a Single Day Conclusion: "Truman World Show" of Market In This Virtual Theater Built by Expectations, Signals and Algorithms, Real Events Are Just a Footnote of Narrative. When Trump Raises His Glass at Dinner, The Market Has Already Turned to Next Hot Spot - Maybe an SEC Tweet, or anF Ambiguous Draft. The Only Thing Investors Can Confirm Is Uncertainty Itself. Disclaimer: This Article Does Not Constitute Advice, Market Has Risks, and Be Cautious
