The recent adjustment in the cryptocurrency market has made many players adopt a wait-and-see attitude towards the subsequent market trends. In addition to the simultaneous contraction of on-site and off-site demand, the decline in the activity levels of new buyers is becoming a key variable that restricts the market from moving towards a larger trend.
Analyzing historical market trends reveals that the rhythm of new buyers entering the market often determines its strength or weakness. During the market fluctuations caused by Trump's election in November 2024, and in the rebound following the tariff crisis in April this year, the concentrated entry of new buyers played a 'stabilizing' role. The incremental funds they brought not only absorbed the profit selling from old players but also provided sustained momentum for price breakthroughs. From the entire cycle of market initiation to high-level fluctuations, new buyers have always been the most core purchasing power; in contrast, the influence of 'bottom-fishing faith buyers' and 'aggressive buyers chasing highs' is relatively weaker.
However, the current market is facing new changes. In late June (June 24 - June 30), after new buyers absorbed the last batch of profit chips, they gradually exited the mainstream trading group in the market — a phenomenon that has not occurred since April of this year.
The continuation of a strong market trend requires the support of core driving forces. When the new buyers, the 'main engine', slow down, it is naturally difficult for the market to sustain.
Regarding the opportunity for new buyers to possibly return, there is a hypothesis in the market: if Trump replaces the Federal Reserve Chairman and the new chairman releases strong signals for interest rate cuts, it might reignite market enthusiasm and attract new buyers back into the market. However, this possibility still needs to be observed in light of subsequent policy developments.#比特币