Are there any major events that may change the market trend in the near future? For example, the interest rate cut is approaching, and BTC ETF is a major event.

Regarding the altcoins, the impact of this decline on the altcoins is relatively small, and there is not a big decline. Except for a few that have risen more in the past two days, the others are basically maintaining the status quo. The main fluctuations are still in the big cake Ethereum and mainstream altcoins. However, if the decline continues this time, it is estimated that the altcoins will not last too long, so the long-term position building has stopped and is ready to carry out long-term bottom-fishing and position building after the interest rate cut is implemented in September. The main focus is still on the short-term altcoin band. Although the overall environment is not good, there will still be many opportunities for these tokens operated by market makers. In addition, it is recommended that you can also look at Grayscale's layout.

The old people in the circle know that the last round of bull market was after Grayscale entered the market. The altcoin market reached an unprecedented crazy height. Even though Grayscale also experienced a huge asset backtest in the end, objectively looking at the series of cryptocurrency fund products established by Grayscale, the prices will show a very significant rising cycle after Grayscale's layout, such as Sui and MKR in the past two days.

In terms of trend, Bitcoin rebounded from $49,000 to $62,700 almost in one go, and the short-term volatility will become increasingly clear. In my previous opinion, I have always believed that Bitcoin needs to complete a second bottoming out before it can start a new round of rising prices. At least for now, there is no clear signal that the bottom has been established. If the intensity of the wash increases, I will still maintain the view of a second bottoming out.