The market has roughly reversed course this week. Trump has brought positive gains to the cryptocurrency market. The price of $BTC has fallen from a high of 70,000 after the speech to nearly 60,000 this morning. It seems that the Trump effect is gradually fading. In addition, Reasons that contributed to the decline include selling pressure from the US government (about 28,000 BTC), Mt. Gox (33,960 BTC), and Genesis ($1.5 billion worth of BTC and ETH); Bitcoin mining difficulty was raised to a record high, and last night the United States The non-farm payrolls data came out and expectations of a recession increased. But Nasdaq-listed Microstrategy acquired 12,222 Bitcoins in the second quarter, bringing its total holdings to 226,500 BTC. CEO Phong Le and CFO Andrew Kang expressed optimism about future Bitcoin support and highlighted the company’s financial strategy. Despite the net loss, Microstrategy remains committed to its Bitcoin strategy.
In fact, judging from the volume ratio of Bitcoin at this moment, large funds have entered the market significantly, Bitcoin's decline has narrowed, and the correction without specific bad news is about to end.
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