The sharp decline of mainstream cryptocurrencies such as Bitcoin is often due to the complex market dynamics. Exchange rate fluctuations are a key link, especially when mainstream currencies depreciate against the US dollar, investors holding cryptocurrencies will feel the relative shrinkage of asset value. For example, exchange rate fluctuations can directly affect the purchasing power of non-US dollar-denominated investors such as Bitcoin, increase market uncertainty, and prompt some investors to choose to sell, thereby exacerbating price declines.

In addition, the direction of global monetary policy adjustments, especially the interest rate cuts that central banks may take, also put pressure on high-risk assets such as Bitcoin. Expectations of interest rate cuts are often accompanied by increased liquidity, but funds may be more inclined to flow into traditional safe-haven assets rather than high-risk cryptocurrencies, resulting in capital outflows from the market and price pressure.

The weak global economic environment should not be ignored either. It has exacerbated market uncertainty, prompting investors to reduce risk appetite and seek safer investment havens. This shift in risk aversion has left volatile assets such as Bitcoin out of favor, and prices have fallen accordingly.

In summary, the sharp drop in mainstream cryptocurrencies is the result of multiple factors, including exchange rate fluctuations, global monetary policy adjustments, and changes in the global economic environment. These factors are intertwined and jointly influence the decision-making of market participants, thereby driving the price trend of the cryptocurrency market. Therefore, when investors participate in the cryptocurrency market, they need to pay close attention to the changes in these external factors in order to make more rational investment decisions. #比特币行情 #美国7月非农就业增长放缓 #美联储何时降息？ #美国政府转移BTC #超级央行周 $BTC $ETH