The reason for the market crash this time is actually related to the minutes of the Federal Reserve meeting. The content is roughly as follows:

The Federal Reserve is very satisfied with the current inflation and is confident about the current inflation. If inflation is too high, it will consider raising interest rates. There is not much information to give confidence in interest rate cuts.

The whales sold one after another, causing the market to collapse. Why did the whales sell one after another? They were worried that capital would short the currency circle. The US dollar raised interest rates, the US stock market rose, and the fresh blood in the currency circle decreased, and the market did not have more support. The whales were worried that capital would sell and withdraw before them.

Whales do not just represent individuals, but can be understood as traders. A company acts as an agent for many retail members to operate one or several accounts with the total funds.

Whales are basically based on long-term spot trading, so the spot was sold, the market fell, and it was better to attract the birth of new retail investors.

Has Btc entered a bear market? I think the big cake was a bull before March 11, and then it was in a 56500-73900 shock, shuttling back and forth, and it was not a bear market. Tomorrow's non-agricultural data is very important. If the data released is less than expected, the market will rise, and the market will have confidence in the interest rate cut. If the non-farm data is greater than expected, the market will lose confidence in the interest rate cut again. The market will fall sharply.

I personally still believe that the data is less than expected, and the market will rise. Of course, I doubt the non-farm data in June. There is a lot of fraud. The expectation for non-farm data in July has dropped to 19, and the expected value has been lowered. Whether the non-farm data will continue to be greater than expected and cause the market to continue to fall is unknown. Anyway, the current US data has lost fairness and justice. It is purely playing whatever it wants. This is actually the consistent style of the Biden administration, without considering the people's happiness index, purely to achieve its own political goals.

Since I came into contact with the US stock market in 2016, the Federal Reserve often released negative information without any information speculation, and then the Federal Reserve's interest rate decision came in contrast.

Pay close attention to the non-farm data at 8:30 pm on Friday.

Next, let's talk about BTC. The weekly chart MA20 has crossed MA10 and MA7, and this trend has become downward pressure, but KDJ has already bottomed out, and there is not much room for it to fall. The reversal signal is sufficient. I personally believe that it will fluctuate below 6.35w for 2-3 weeks. Everyone knows that the Fed's interest rate decision will be made on August 1, so the market will not rise much after this big drop.