In a startling turn of events, Bitcoin experienced a sharp decline of $700 in just one minute, leaving investors on edge as they entered the week leading up to the Federal Reserve's highly anticipated interest rate decision. The sudden dump, which brought Bitcoin perilously close to its $29,000 threshold, triggered widespread nervousness among market participants. Although the exact cause of the decline remains uncertain, it resulted in a significant increase in liquidations, with $30 million worth of positions liquidated in Bitcoin alone, and a staggering $85 million liquidation across various altcoins.

The Mysterious Drop:

At present, there is no concrete source attributing the sudden drop in Bitcoin's price to any specific news or event. As market participants await further details, speculation is rife regarding the reasons behind this rapid depreciation. Some have raised the possibility of the decline being linked to a mass liquidation of open positions, while others question whether insider information may have played a role in the dramatic plunge.

Investor Anxiety:

The steep drop in Bitcoin's value within such a short time frame has understandably heightened anxiety among investors. As the market navigates the uncertainty surrounding the Fed's impending interest rate decision, the sudden and sharp decline in Bitcoin's price only adds to the apprehension among traders. Investors are keeping a close eye on any forthcoming information that may shed light on the true cause of the significant price fluctuation. #BTCUpdate

Liquidation Impact:

The consequences of Bitcoin's rapid descent were acutely felt through a surge in liquidations across the crypto market. Within the span of just one minute, a staggering $30 million worth of positions in Bitcoin were liquidated, illustrating the magnitude of the sell-off. Additionally, other cryptocurrencies, collectively valued at $85 million, also faced substantial liquidations, further complicating the market sentiment.

In Summary:

As the crypto community grapples with the sudden drop in Bitcoin's price, there is a pressing need for more information to understand the root cause of this significant market movement. Until concrete details emerge, the possibility of mass liquidations or potential leaks of critical information remains speculative. As the situation unfolds, investors and traders are advised to exercise caution and stay abreast of further developments that could impact the crypto market's stability in the coming days. #bitcoin #BTC $BTC #FEDs

📌 After the Fed's interest rate hike in July, investors are very interested in the Fed's actions in the September meeting. In addition, Fed Chairman Jerome #Powell affirmed that the next interest rate result will depend on data. #macro .

➡️ Therefore, from now until then, there will be many important macro events that will affect the upcoming Fed's interest rate decision.

➡️ There will be many important macro events this week, please pay attention:

➡️ August 21st: US ISM Manufacturing PMI

➡️ August 21st: JOLTS Employment Data

➡️ 7:15 am 2/8: ADP Non-Farm

➡️ 7:30 p.m. August 3: US jobless claims

➡️ 9pm August 3: US ISM Services PMI

➡️19:30 4/8: Non-farm message board

📌 Non-farm message board

Time: 19:30 4/8 (Vietnam time)

Influence level: High

Forecast: 200K – Last installment: 209K

Lower than forecast is good for Crypto.

➡️ From now until the next #FEDs interest rate meeting, the first important macro data to be released will be the Non-farm News Feed.

➡️ The Nonfarm Payroll (#NFP ) is a monthly statistical report published by the United States Department of Labor that measures the number of new jobs created outside of agriculture during the previous month in the United States. The NFP is an important indicator of the labor market and economic health of the United States.

The NFP feed includes 3 main indicators: new job creation, unemployment rate and average hourly wages.

➡️ If the Non-farm News Feed shows a weaker-than-expected or lower-than-expected employment situation, this could dampen confidence in the economy and push down the value of the dollar. This can increase the value of the Crypto array.

➡️ Currently, it is not clear whether Non-farm will be lower or higher than forecast, if you want data to infer, you will have to wait for the following data.

📌 Non-farm News Feed Forecast Dataset

📍 JOLTS . employment data

Time: August 21st

Influence level: Medium

Forecast: 9.61M – Last wave: 9.82M

Lower than forecast is good for Crypto.

➡️ JOLTS Job Openings is a report on the number of jobs currently opening by the #US Bureau of Labor Statistics (BLS). This report is released monthly to measure the number of vacancies nationwide.

➡️ The fact that this index is lower than forecast increases the probability that the Non-farm News Feed will be lower than forecast.

📌 ADP Non-farm

Time: 19h15 2/8 (Vietnam time)

Influence level: Medium

Forecast: 223K – Previous installment: 221K

Lower than forecast is good for Crypto.

➡️ ADP Non-farm is a monthly report of economic data, which tracks and shows the level of private non-farm employment in the United States (USA). This index is published by a private organization called Automatic Data Processing.

➡️ The fact that this index is lower than forecast will also increase the probability that the Non-farm News Feed will be lower than forecast.

📌 US unemployment claims

Time: On August 3

Influence level: Medium

Forecast: 223K – Previous installment: 221K

Higher than forecast is good for Crypto.

➡️ This is an index that measures the number of individuals who filed for unemployment insurance for the first time in the past week. Unlike the above two indicators, if the number of US jobless claims is higher than expected, it will increase the probability that the Non-farm News Feed will be lower than forecast.

📌 PMI . indicator set

➡️ The Purchasing Managers' Index (PMI) is an index that measures the health of a country's manufacturing and service industries, based on information collected from purchasing managers in different industries. manufacturing and service companies.

➡️ If the PMI is below 50 or the result is lower than forecast, it indicates a recession in the economy, a falling labor market, the Fed may cut interest rates and the dollar will depreciate. This will cause the crypto market to grow.

➡️ Besides Non-farm news, PMI also has a macro influence, although usually these indicators do not have too much influence on Crypto market prices in the short term.

This week PMI will have the following two indicators.

📌 ISM Manufacturing PMI

Time: August 21st (Vietnam time)

Influence level: Medium

Forecast: 46.9 – Last wave: 46.0

Lower than forecast is good for Crypto.

📌 ISM Services PMI

Time: 21h 3/8 (Vietnam time)

Influence level: Medium

Forecast: 53 – Last wave: 53.9

Lower than forecast is good for Crypto.

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