The reasons for the sharp drop in BTC in the past six months are as follows
Phase 2: August 1-5, 2024 (BTC fell by about 22%, Nasdaq fell by about 5%)
Why?
1. The US non-farm data was lower than expected, triggering the Sam rule and panic in the global market;
2. The Japanese central bank raised interest rates beyond expectations, the yen carry trade reversed, the liquidation led to market deleveraging, the exchange rate loss compressed overseas profits, and liquidity decreased;
