The market is not stable yet, so don't act impulsively!
The price of bitcoin is plummeting abnormally this time, with no signs of rebound, which makes people feel desperate, as if the bottom is out of reach.
In this situation, it is recommended that you do not blindly open long or buy on the left side, and wait patiently for the signal of stabilization on the right side. Specifically, you can wait for the three-day line to close above 55,000, or observe whether the 50,000-52,000 or even 46,000 line forms an effective support.
This decline deviates from the technical side and is more driven by panic selling. Therefore, the wisest strategy is to wait for the market to stabilize before entering the market!
Market dynamics:
1: BTC leads the downward trend, and altcoins generally follow the decline.
2: The collapse of the US stock market has forced expectations of a rate cut in September to rise. Buffett has cleared his US stock holdings for the first time in recent years.
Market focus:
1: BTC plummeted, and the weekly pattern weakened. The trend is similar to that in 2019, when the bull market restarted six months after the rate cut. From the interest rate cut in July 2019 to April 2020, and then to the first interest rate hike in March 2022, BTC rose sharply to 312 in 2020, half a year after the interest rate cut, until November 2021, almost half a year ahead of schedule to end the rise.
2: JUP in the SOL ecosystem rose. As the DEX of SOL, JUP passed a resolution to reduce the number of tokens by 30%.
3: Harris of POLIFI rose. The winning rate of both elections is close, but Harris's market value is 10 million U, while Trump's market value is as high as 200 million U, which is a huge difference.
This small rebound is likely to be the Federal Reserve holding an emergency meeting to discuss the next interest rate cut of more than 50 points.
