Will this plunge be the last one?
News:
The much-anticipated non-agricultural employment data added more than 270,000 non-agricultural population. The strong employment data greatly increased the Fed's idea of maintaining high interest rates.
The confidence of major institutions in the Fed's interest rate cut in September suffered a heavy blow, so they sold their stocks and dumped the market, which eventually led to a collective collapse of bulls.
Emotional:
After data testing, since BTC rose from $57,000 to $72,000, this month has reawakened the confidence of many retail investors.
They always scold the market as a scam (dare not buy) when the market is low and they can buy at the bottom. In the end, it rose very high, and they began to chase the rise and talk about the blockchain revolution. This kind of sentiment of chasing the rise and killing the fall is very strong, especially when the 4.14 crash was full of gold pits, such as SOL120U (later rose 50%+) ORDI30U (doubled), pepe 5 zeros at the time (now up 240%), etc.
Fundamentals: Since Bitcoin passed the ETF, it has risen all the way to $73,000. BTC has been fluctuating for nearly 3 months. Although major institutions are accumulating, there are also many high-level dumping, which has caused a temporary problem in consensus.
Moreover, the last big bomb in the currency circle is the interest rate cut. With the upcoming summer vacation, European and American trading institutions will be in a bad state. The annual rise is generally in September and October in autumn.
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