The turmoil in the cryptocurrency circle is resurgent: short-term volatility and long-term outlook under the expectation of the Fed's rate cut
The expectation of the Fed's rate cut in September has intensified the volatility of the cryptocurrency circle, and the market's fragility has been fully exposed. Yesterday, the market was generally optimistic about the positive effects of the rate cut, and investors were bullish and increased their positions, but I went against the trend and shorted at a high of 66,800. When I woke up, the market plummeted by $3,000, which verified my judgment.
Although the rate cut is a long-term positive, it needs to be cleaned up by profit-taking before it can rise healthily. It is expected that market sentiment will gradually recover after August 2, but before that, the market will continue to fluctuate violently, causing headaches for investors.
Critical moment: Data will be released at 20:30 on the evening of August 2. If Bitcoin does not touch the support level of 65,000, the first test may cause a short-term decline; the second test will increase the risk. The increase in the number of resistance and support tests indicates that a breakthrough is imminent. Investors need to pay close attention to market dynamics and respond flexibly.
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