Today, the price of $BTC suddenly plunged, and it couldn't even hold 100,000. Those small currencies also plummeted, and the price was about to touch the bottom of the previous two times. This is the third test of the low price bottom line.
The culprit for this decline is the US stock market, and why did the US stock market fall?
Powell of the Federal Reserve said that although everyone is mentally prepared for a 25 basis point interest rate cut, Powell said that there may be only two interest rate cuts next year, and the pace of interest rate cuts has obviously slowed down.
Someone also asked Powell whether the Federal Reserve would buy BTC. He directly said that the Federal Reserve did not have the power to buy it, and Congress had to nod.
In other words, if the United States wants to use BTC as a strategic reserve, it is not up to Trump alone.
On the US stock market side, the Nasdaq fell so badly, falling 3.56% in one day. If the US stock market continues to fall like this, BTC will definitely be unlucky.
In this circle, BTC is still quite competitive. Although it fell below 100,000, it rose back later.
$ETH is also okay. The support level of 3,500 points has not been broken. This is barely good news.
But to be honest, when BTC rose from 100,000 to 108,000 before, the market did not move much. Now that it has fallen, the signs of capital withdrawal should not be too obvious.
Now everyone has a big difference of opinion on this price. Some main players have made a lot of money and chose to withdraw.
When it comes to the next trend, I still stick to my previous view, because it is almost the holiday, and it is the end of the year. The main players may have to take a break, so there is a high probability that there will be a mid-term rest market.
During this period, the price may fall first, then rise, and then fall again, but the overall trend is still slowly falling.
So don't rush to make up for the money you reduced your position before, even if you need to make up, such as the three bottoms this time, just do short-term trading to make a little money.
Then if Bitcoin continues to soar, see if those small currencies will follow suit. If they do, then continue to sell and stop when you have made enough money.
For the next layout direction, I will lead everyone to aim at the profit opportunities of copycats. There is no problem with the expected space of more than 10 times. Like + leave a message, and I will lead you to layout the entire bull market!
