At two o'clock in the morning last night, there was a "pin drop" and the market plummeted! Mainstream coins such as Ethereum, Bitcoin, and Sol performed well, but other altcoins were terrible. MEME and local dog coins fell by more than 20 to 30 percent in an instant.

After the data was released, the expectation of interest rate cuts in September dropped from 75% to 50%, and the wall street bet crashed. MEME stock king GME plummeted 50% in one day and announced the sale of an additional 75 million shares. It lost 30 million yuan in the first quarter, and all kinds of MEME in the currency circle flash crashed by 20%. This is the risk of leverage on MEME. If there is unexpected news, you will not have the opportunity to react at all.

Secondly, there is something very interesting. Normally, the more it falls, the more it will explode. At about 4 am on June 7, Bitcoin fell by several hundred points, causing a liquidation of 576 million US dollars. However, it plummeted by several thousand points in the middle of the night yesterday, but the liquidation volume was very small, which shows that people's buying sentiment has cooled down a little now, and they will not be too FOMO.

Although the liquidation volume has dropped significantly this time, the position volume has still dropped a lot. The purpose of the dealer has been achieved, making the market lose confidence in the bulls. This type of operation is often the opposite of retail investors

It can also be said that everyone is waiting for Thursday's interest rate meeting to see if the trend will change. That will be related to the Fed's interest rate cut and the time, which will have a great impact on the currency circle

At this stage, pay more attention to some strong coins in this round of market such as LPT, ORDI, TON, and try to avoid some weak coins that have fallen badly. Although everyone firmly believes that it is a bull market, basic risk control must still be done well. Remember the miserable situation of the copycat after BTC fell below 60,000 last time #people #not