Why did the market fall again? The reasons come from the following points🈳🈳🈳🈳
After the release of Nvidia's financial report, it first rose by more than 2%, and then plunged quickly. The after-hours drop exceeded 7%, which once brought AI stocks crashing. Although second-quarter earnings per share and revenue exceeded expectations, the revenue growth guidance for the third quarter was But it slowed down significantly. This means that Nvidia's forecast Q3 revenue growth will fall back to double digits for the first time in the past six quarters, while Wall Street remains optimistic about triple-digit growth.
Nvidia's financial report also had a great impact on the market. The U.S. S&P 500, Nasdaq, and Dow Jones all fell to a large extent in the early morning, which indirectly caused the Bitcoin market to follow suit.
$BTC is also a prince. The good ones will not follow the rise, but the bad ones will follow the trend. In addition, yesterday the outflow of the Bitcoin sector of the US ETF fund was as high as 72 million U.S. dollars, mainly from Fidelity FBTC with an outflow of 31.11 million U.S. dollars, Grayscale GBTC with an outflow of 22.68 million U.S. dollars, and Baile De IBIT had an outflow of US$13.88 million.
Looking back at the BTC market, I believe that the short-term support range is between $58,000 and $56,400, and it will definitely jump sideways repeatedly. A decline before the interest rate cut will definitely occur, unless the market can bring about some new changes after mid-September.
