618 discount, crash, crash, crash!!!

Coinglass data shows that virtual currency contracts had a total liquidation of nearly 478 million US dollars in 24 hours, affecting 190,000 people, of which the largest single liquidation was as high as 6.4371 million US dollars. Bitcoin has fallen for many consecutive days and has fallen below many important thresholds.

The cryptocurrency market has gradually entered the stage of bull-to-bear market, and the fundamentals of on-chain transaction volume are further deteriorating.

The market has different opinions on the reasons for the decline. There are many factors that affect the recent downward trend. One of the main factors is the reduction in the Fed's interest rate hike expectations. For the virtual currency market, this means that there is no new capital entering the market, and the continued decline in the currency price is a reflection. In the case of a delayed interest rate cut, then June will definitely be a negative decline, and the market may only usher in a turnaround in July, because the leverage will be almost cleared in June, and the positive will be slowly released from the end of July, which will also be an opportunity for the layout of cottages.

The market has already fallen sharply, and it is expected that a large amount of pins can be entered at a low point, and it is expected that the interest rate cut expectations will continue to be hyped in the future.