Market Analysis 7.8

Good morning, brothers. The market has returned to its previous low.

From the on-chain data, not much BTC has flowed into the exchange.

It is much less than the big drop last week.

The reason for the decline is that the funds are worried about the Mentougou news this week,

so they dumped the market in advance and ran away.

Powell will give a speech at 10:00 pm on Tuesday and Wednesday this week.

CPI data will be released at 8:30 pm on Thursday.

There are a few points we continue to emphasize

(1) The compensation for Mentougou has not yet ended

There will be negative news in the future, so don’t be aggressive in opening long contracts

I said last night that it will take 90 days for all exchanges to pay off the compensation, which is mid-October

Against this background, a small-scale rebound is possible, but a large-scale rebound is impossible

BTC is unlikely to break through $60,000

(2) A large amount of funds have begun to buy the bottom

Stablecoins in exchanges have rebounded, and ETF funds began to buy the bottom on a large scale yesterday

(3) It’s still the old conclusion

We are currently on the eve of the Fed’s rate cut. After the Mentougou incident is resolved

In 2025, global macro policies will be released, and a new bull market will start

As long as there is no contract liquidation, it may only take a week or so to rise

Be patient and endure it, and the road ahead will be smooth

(4) Don’t be too optimistic or pessimistic now

Now is the time to hold the currency patiently

When the price drops by more than 10%, it is time to buy the bottom in batches

Don’t sell at the bottom, hold on and endure, and you will usher in a turnaround

What are the turning points:

For example, the latest news from Mentougou says that more than a certain number of BTC are unclaimed

For example, the Federal Reserve will cut interest rates in September, etc.

For example, a certain value coin you bought has good news

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