July 18, 2024
Market interpretation of the cryptocurrency circle and Bitcoin ecology: The Nasdaq index is facing correction pressure, and the selling behavior of Mentougou creditors is also exerting pressure in the future, showing a bearish trend on Bitcoin and the overall market trend in the short term.
1⃣ Nasdaq Index: On the 17th, the Nasdaq Index fell sharply, with a drop of 2.77%. Since the beginning of 2023, the Nasdaq Index has started a bull market in the stock market from 10458 points to 18671 points, with an increase of nearly doubled. This decline not only refreshed the record of the largest single-day decline since 2023, but also showed the volatility and pressure of the market.
2⃣ Creditors of Mentougou: The current focus is on the trustees of Mt.Gox. As creditors of the Mentougou Exchange, they are conducting large-scale selling operations, which has exerted additional pressure on the market.
Under the combined effect of these factors, the market shows a pessimistic view of Bitcoin and the short-term trend of the market.
