There are three reasons for the decline today.

(1) The real selling pressure from Mentougou. The day before yesterday, Mentougou paid 50,000 BTC to the exchange. Recently, these people have started to sell.

(2) The sharp drop in US stocks caused BTC to fall.

(3) After the positive news of ETF was released, all the positive news came out as negative news.

This wave of Mentougou's impact on market sentiment and psychology is not as strong as the first time.

But the selling pressure is estimated to be digested in October.

If there is negative economic data, BTC may fall back below $62,000 again.

So the recent market is mainly based on waiting.