The crypto market has seen a general decline, with Bitcoin almost falling below $58,000, Ethereum falling to a low of $2,391.47, and the altcoin market falling even more horribly.
Some institutional analysts believe that major tokens are digesting the boost from the Fed's top official, Mr. Powell, hinting last week that the Fed will lower its benchmark interest rate from a high point in more than 20 years. Mr. Powell's "fox 🦊" smooth style has not changed.
Analysts believe that the current decline is also a deliberate dumping of whales and institutions to build positions for many favorable factors in September. In general, the market outlook is still optimistic, and it is recommended to pay attention to changes in news in terms of operations.
