In fact, this wave of downward trend is completely foreseeable for investors with certain market experience. The core reasons behind it are mainly as follows: 💥💥

1. First and foremost, the Fed’s clear signal of interest rate cuts has not yet arrived, which has led to a lack of fresh blood in the market, and the liquidity of funds on the market is seriously insufficient, making it difficult to support the continued rise in prices. 💰

2. Secondly, this year is the peak period for token unlocking for many cryptocurrency projects supported by established VCs (venture capital). This means that a large number of tokens will flood into the market, further exacerbating the supply pressure in the market. At the same time, newly listed, overvalued VC-supported altcoins are also continuing to consume the already scarce liquidity in the market. These new coins were listed at a high point, and then quickly fell back, which greatly hit the overall confidence of the market. 🚀

3. Furthermore, the German government has recently frequently taken action to sell a large amount of Bitcoin ($BTC), coupled with the impact of negative news such as the Mentougou incident, which has further increased the selling pressure in the market. At the current market liquidity level, this selling pressure is almost unbearable. From the perspective of technical analysis, both the daily and weekly charts of Bitcoin show a top pattern, further confirming the weak market trend. 👍

4. However, despite these factors indicating a downward trend in the market, most people have not been spared, which is mainly attributed to the weakness of human nature - the mentality of luck. When unfavorable signals appear in the market, investors tend to believe that the market will reverse or that their positions can survive on their own, thus missing the best time to hedge. 💦

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