BTC strongly exceeded expectations, and market confidence gradually recovered

The second bottom for BTC that investors had been waiting for did not arrive, but was baptized by a strong rebound. On August 5, BTC suffered a sharp decline, falling below the $50,000 mark. This was caused by the negative resonance of the Japanese stock market circuit breaker, concerns about the US economic recession, and the Jump Trading crisis. However, after the U.S. stock market opened, BTC stabilized at the 50,000 mark, manufacturing data boosted market sentiment, and the haze of economic recession slightly dissipated. The next day, U.S. stocks closed solidly, Japanese stocks reversed their circuit breaker, and market confidence recovered significantly. Investors realized that although risks existed, the crisis was less than expected and panic gradually receded. The policy trends of the Federal Reserve and the Bank of Japan demonstrate the key to market confidence. Confidence has returned, risk assets have been protected from panic selling, and the risk of serial liquidations has been mitigated. Although hidden dangers still exist, the market has received more buffers, and the probability of the short-term crisis deepening is lower.

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