I think this wave of decline is mainly due to the impact of Japan's interest rate hike, which caused institutions or large investors that had previously borrowed Japanese yen to sell U.S. stocks or crypto assets to repay the borrowed Japanese yen, causing panic in the market. The United States has been rumored to start cutting interest rates, but has yet to see any action. Now it is hoping to cut interest rates as soon as possible to allow big funds to flow into the market again.

During the decline in the past few days, I also bought the bottom in batches. At present, it seems that as long as it stands firm above 55,000, the chance of continuing downward is slim. It depends on whether it can return to 60,000 or even 70,000. The U.S. election in a few months is also very critical and may seriously affect the next trend. The above is my personal opinion and is for reference only.

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