The big fluctuation may happen tonight. On the 3rd, the latest data deepened investors' concerns about the US economic recession, and US stocks collectively plunged. At present, investors are focused on waiting for more US economic data to be released. Tonight, the number of initial unemployment claims in the service industry will be announced, and Friday is the important August non-farm employment report. These two data will provide a clearer reference standard for the health of the US economy and the extent of the Fed's interest rate cut this month.
Coinglass data shows that many warriors are long in this wave of rise. If Bitcoin falls below $56,800 again, the cumulative long order liquidation strength of mainstream centralized exchanges such as Binance, OKX, and Bybit will reach $1.1 billion; if Bitcoin continues to rise and breaks through $58,700, the cumulative short order liquidation strength will be $320 million. Whether to eat or drink porridge next month depends on this week. Good luck brothers~
