🔔 Market correction, several reasons🔥🔥🔥
1. The tens of thousands of BTC released by Mentougou continue to bring selling pressure, so it fell down after rising to $65,000;
2. After rising for several days, profit-taking has been released;
3. The expectation of interest rate cut has been partially released;
4. Big funds are worried about the release of data on Friday and inflation rebound.
Before the September interest rate meeting, three more heavy data will be released:
One PCE, one CPI, and one non-agricultural.
Focus this week
Nvidia's financial report will be released on Wednesday. If it falls sharply, the AI sector in the currency circle will also fall. Short sell when the opportunity arises.
PCE data will be released on Friday. If it is lower than expected, it is positive, and higher than expected, it is negative. BTC may fall.
The tens of thousands of coins in Mentougou have great selling pressure.
It will still fluctuate for at least 2 weeks in September.
And the remaining 30,000 to 40,000 BTC in Mentougou will continue to be released in September.
Bitcoin is in a situation of volatility and cannot go up, but there is no need to worry about a sharp drop.
Israel and Iran cannot fight, and peace talks are expected.
The conflict between Russia and Ukraine will not be too serious in the near future.
The interest rate cut is imminent, and the long-term outlook is still bullish.
If it falls below 60,000, it will be pulled back quickly.
The market is up and down, don't chase the rise, and just hold the coins in your hand and wait slowly.
