Market bearish news and positive expectations
Market bearish news
Although many people worry that the decline is related to the selling of the US government, the German government and Mentougou, the actual selling data transferred to the exchange shows that the transfer volume in the three working days this week was surprisingly low, and the selling pressure was the lowest in the past six months. Therefore, selling is not the main reason for the decline in Bitcoin prices. The main reason is still the lack of liquidity and purchasing power.
Market positive news
First: The filing date of Ethereum's ETF is approaching, and it is expected to pass the review as early as next week, when a large amount of funds will enter the market. If Ethereum stabilizes, it will also have a positive impact on the altcoin market.
Second: There are rumors that the Federal Reserve may cut interest rates in the third quarter, and the market's expectations of good days are getting stronger and stronger.
Third: Former US President Donald Trump supports Bitcoin and believes that Bitcoin may become a strategic reserve asset to enhance the geopolitical strength and economic stability of the United States. Trump's voice in this election is still high.
