Yesterday, the crypto market fluctuated slightly during the day. The main market changes occurred after the opening of the U.S. stock market. Bitcoin once rose to around 63,200, but then fell back to around 61,800. Ethereum performed similarly. After the opening of the U.S. stock market, it rose to around 2,450, and then fell back to the 2,400 support level. This morning, with the unfavorable opening trend of A-shares, the market opened low and went low, and many profit-taking orders were sold. This adjustment is normal after the market has risen sharply. After all, A-shares rose from 2,700 points to 3,700 points, and falling back to 3,200 points is a good entry opportunity for investors.

During the opening of A-shares, Ethereum rose to 2472, setting a high point when the US stock market opened last night. But in comparison, Bitcoin's volatility is not large. After reaching 62,500, it began to fall back. It is expected that the trend during the day will still fluctuate between 2400 and 2470. The big changes in the market may have to wait until the US CPI data is released at 8:30 tomorrow night. From past experience, the release of US CPI data is often a key moment for market changes. Therefore, before the data is released, the market is likely to continue to fluctuate, and investors can adopt a strategy of selling high and buying low.

For other currencies, such as CFX, after yesterday's surge, the price fluctuated slightly downward as the Hong Kong stock market opened this morning. Since CFX fluctuates greatly, it is suitable for ambush operations with small positions. Long-term holders can consider making fixed investments when the price falls back. For CFX, I personally think that the area below 0.2 is a good ambush range.

Looking ahead to 2024, many people are looking forward to the arrival of a bull market. At the beginning of the year, with the approval of the Bitcoin ETF, major funds have been pulling up the market, and the market was once full of confidence, believing that the big bull market has arrived. However, the subsequent sharp turn of the market caught people off guard. Since April, there has been a sharp drop at the beginning of each month. On August 5, Ethereum led the decline, and the market panic reached its peak. Some altcoins fell by more than 30% in just a few hours. All this shocked investors, and even short-selling investors did not expect such drastic fluctuations.

Faced with such a market environment, many investors were unable to respond in time, and most people closed their positions too early, missing out on subsequent opportunities. The profits of the longs were almost wiped out, even with interest. This series of results made people realize that the cruelty of the crypto market is far beyond expectations. Even experienced investors who have experienced many market fluctuations find it difficult to digest such drastic fluctuations in a short period of time, let alone newcomers who have just entered the market. This round of decline has taught everyone a lesson - respect the market.

Although this round of decline has caused heavy losses for many people, it is also an opportunity. While the market pays for arrogance, it also provides valuable experience for future investors. As many investors have said, this market turmoil does not mean the end of the trend. Since the Bitcoin ETF was passed on January 1, 2024, funds have continued to flow in, and the current value of Bitcoin held in the market has reached 48.587 billion US dollars. Compared with the bull market in 2020, the power of funds has made a qualitative leap.

Although altcoins have performed poorly, global financial markets have gradually recovered since the Fed cut interest rates on September 19. The rise in US stocks, gold, A shares, Hong Kong stocks and other markets shows signs of funds re-entering the market. The loose monetary policy around the world is also paving the way for new wealth distribution. As a financial investor, this is an exciting opportunity.