The crypto market has collapsed across the board. Where should we go next?

Brothers and sisters, let's first pay attention to the situation of cryptocurrencies. Today, they all flash crashed. On July 5, the cryptocurrency market suffered a massive sell-off, and Bitcoin fell for the fourth consecutive trading day, falling to its lowest level since February. This is in stark contrast to the recent record highs in global stock markets.

As cryptocurrencies continue to sell off, nearly $700 million has been liquidated in cryptocurrency derivatives transactions in the past 24 hours, most of which involved long traders. According to on-chain data, a whale has liquidated about 173,230 ethers, worth about $10.7 million. And after Bitcoin suddenly plummeted, several other cryptocurrency giants were also forced to liquidate.

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The cryptocurrency market has fallen into a bearish outlook over the past month, and this trend may continue in the coming weeks. However, in the bull market cycle in 2017, it was also characterized by multiple adjustments, ranging from 25-40%.

Although the cryptocurrency trend may continue to be bearish in the future, I think as long as we remain cautious and hopeful, there is reason to believe that the crypto market will rebound.

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