Why did the crypto market plummet? Is the second exploration coming?

Is it a chance to buy at the bottom or a chance to escape?

Let's talk about this topic today!

Bitcoin has experienced a lot of turmoil! The price has been falling all the way, making many friends sweat. So what is going on? Let's uncover the truth behind it!

First of all, a big move by the US government caused panic in the market. They transferred 10,000 bitcoins to Coinbase! This move instantly triggered a selling frenzy in the market, and friends chose to hedge

Not only that, more than $1 billion of Tether's stablecoin USDT was also withdrawn in large quantities, setting a record for the highest single-day withdrawal amount since May. It seems that they are all looking for a safer way to store funds to cope with possible market fluctuations.

And Roman, a well-known cryptocurrency trader, also expressed his views. He believes that Bitcoin's current price behavior does not show a continued upward trend, but may fall to $55,000. Will the prediction come true?

So, what caused this market turmoil?

The Consumer Price Index (CPI) data for July was released, with a year-on-year increase of 2.9%, lower than expected, and the lowest inflation rate since 2021. This data has sparked speculation that the Federal Reserve may cut interest rates, which in turn affected market dynamics. Do you think it will break a new low this time? Let me know in the comments! #BTC☀