Is there still a bull market in the cryptocurrency market? Why did the price plummet? It turns out that there is a big problem here!

The latest hot spots are here! These two sectors are about to usher in a lot of heat, and now the pullback is just the right time to enter the market!

So what is the current on-chain data, and what major news is worth our attention recently? Let’s follow Shuqin to find out~

First, let’s talk about the big crash in the cryptocurrency market in the past two days. This is a pretty big problem.

The first is that the entire US economy has begun to deteriorate. The employment figures released yesterday were significantly lower than expected, nearly halved, and the market is worried about a depression. And because the incident happened suddenly and was beyond everyone's expectations, many investors suffered heavy losses.

Powell did not follow Dudley's advice to cut interest rates at the interest rate meeting this week. Now the market believes that it is too late to cut interest rates in September. The Fed has made mistakes more than once. Previously, it caused super inflation because of raising interest rates too late. This time, the ISM manufacturing index in the United States plummeted, the number of unemployed people soared, and the Fed was still dragging its feet on cutting interest rates, which made people panic, causing the cryptocurrency market and US stocks to collapse last night.

But if you think about it carefully, this may stimulate the Federal Reserve to cut interest rates earlier, faster and more significantly, so I think this will be a bitter experience before sweetness, so let's just be patient for a few weeks.

The on-chain data of Bitcoin has also completely reversed, and now a large amount of Bitcoin is being continuously transferred to exchanges for sale.

The main sellers are Germany and Mentougou, which we have been talking about recently. These two have sold tens of billions of dollars. Every time the cryptocurrency market rises a little, they start to dump the market. This makes the whales and Wall Street a little overwhelmed, because they have been buying, but the cryptocurrency market does not rise, which is extremely disappointing.

Fortunately, Germany has already sold all its coins and Mentougou still has the last 2.13 billion US dollars of coins left, which is really a very suitable number for him.

Na Benqin expects that he will end his selling this week or next week. Our nightmare only has one week left. Thank you all for your hard work.

The third reason for the current decline in the cryptocurrency market is what Benqin has mentioned in many of her programs: all the good news after Trump’s speech has been exhausted.

Before his speech, the cryptocurrency market was soaring, from more than 50,000 to 70,000. Now that the positive news is gone, it will definitely fall back, which Shuqin has emphasized many times, but the decline is more than we expected, mainly because the number of employed people was halved yesterday, which basically no one could have predicted.

However, in October, FTX will inject 16 billion US dollars into the cryptocurrency circle, which will cause a huge increase. So we should be patient and ambush in August and September, because there will be another super increase like Trump’s speech. At that time, it should break the previous high of 74,000 and start to take off. This is the perfect script in my mind.

The consensus on Bitcoin's historical ups and downs that we analyzed earlier also supports this view.

Because in October, both the cryptocurrency circle and the U.S. stock market will experience the Halloween effect, and the increase has always been the largest. However, August is the summer off-season, so it would be a blessing if there is no decline.

After talking about the overall market, let’s take a look at several upcoming market hot spots. The first is International Cat Day on August 8, which is only a few days away. Major platforms and project parties have released relevant favorable news. For example, Coinbase will launch the MEW contract on the 8th, and the famous cat IP “Simon’s Cat” will also issue coins on that day.

And airdrops will be made to Floki’s on-chain holders, so Floki will also benefit from the popularity.

After Simon’s Cat launches the airdrop, all the good news for Floki will be exhausted and it will start to pull back, so there is a high probability that it will rise before the 8th. Then we can consider selling at highs on the 8th, or even shorting.

In addition, you can pay attention to the following cat coins.

Especially the first three are the leaders in the cat world, both in terms of trading volume and market value. They have also adjusted back recently with the market, so I think they are worth ambush. The MEW coin I just mentioned has been listed on Binance Contracts, and it will be listed on Coinbase on the 8th, so I think MEW has more opportunities, so let's run when we get it on the 8th.

Although Binance has listed MEW contracts, it has not listed any cat coins yet, so is it possible that it will list one that day? This is still quite exciting.

In addition, AI chip leader Nvidia will release its financial report on the 28th, so the AI ​​sector's coins may see a wave of popularity in the week or two before that. We should run as soon as we get them on the 28th.

Render, IO, and Fet have all experienced large pullbacks recently, so entering the market now may really be considered buying when no one is interested.

Now let's talk about the current market situation. Shuqin warned everyone during Chuanbao's speech that all the good news in the cryptocurrency circle had been exhausted and asked everyone to escape the top. This was emphasized several times both in the program and in the group, especially the fact that many People had a pullback.

Although we did not bottom out at the very bottom due to the sudden negative news from Mentougou and the unexpected collapse of the U.S. stock market, but at least we escaped from the previous high, so the current average holding price is still relatively low, which is really a blessing in disguise.

For those who are interested, you can take a look. Various signals of escaping the top and buying the bottom are updated in real time on this piano. These are all based on experience.

Okay, let’s continue.

Harris, the US candidate that Shuqin was very worried about before, has now made a 180-degree turn and started to actively embrace the cryptocurrency circle. According to FX, Hasri is expected to meet with cryptocurrency giants Ripple, Coinbase and USDC parent company Circle. At the same time, many Silicon Valley crypto VCs have also publicly donated to Harris, which shows that the wind has suddenly changed overnight.

Therefore, even if Trump is unlucky enough to lose the election this year, the cryptocurrency circle should not encounter any major changes, so everyone can put their minds at ease.

Because there are indeed more and more investors in the cryptocurrency circle in the United States, both factions are actively competing for votes in the cryptocurrency circle, and Trump even launched a limited edition pair of sneakers that can be paid for with Bitcoin yesterday.

So we don’t have to worry now, because since the Bitcoin ETF was passed by Wall Street, the cryptocurrency circle has become popular, and we have a giant like BlackRock standing behind us!

Therefore, don’t worry that the bull market will not come. Bitcoin will naturally rise in October. Benqin’s strategy now is to sell high and buy low, play with the waves, accumulate more capital, and wait for the big bull market to start.

Come on! #今日市场观点