Breaking! Significant negative data, the crypto market is experiencing a widespread decline, what hidden mysteries lie in the subsequent trends?
Just now, on August 31 at 20:30, the financial market dropped two "heavy bombs"! 【Number of initial unemployment claims in the US for the week ending July 26 / Ten thousand people】 and 【US June Core PCE Price Index Year-on-Year】 these two sets of data turned out to be both negative! This news instantly acted like a giant stone thrown into a calm lake, stirring up layers of waves, directly causing the market to collectively switch to a downward mode.
In this storm, Ethereum was the first to be hit, with prices quickly dropping from 3877 to around 3762, as if experiencing an exhilarating roller coaster ride. Other altcoins were not spared either, collectively dropping about 5%-10%, leaving the market bleak.
More critically, the monthly closing will happen at 8 AM tomorrow, which is an important node for market trends. Additionally, on the evening of August 1st at 20:30, the data for 【US July Unemployment Rate】 and 【US July Seasonally Adjusted Non-Farm Payrolls Ten Thousand/Person】 will also be released. The significance of these two pieces of data is rated as five stars, absolutely the focus of market attention!
Currently, Bitcoin and Ethereum have been oscillating at high levels for nearly 18 days, and this state of deadlock has left investors on edge. The two major data points to be released tomorrow night, regardless of whether the final results are positive or negative, based on past experience and market trends, the market is likely to experience significant fluctuations. Moreover, the day after tomorrow is the weekend, and the overall market liquidity tends to be poor during weekends, with low capital activity, adding more uncertainty to the market.
Given the current situation, to be conservative, it is suggested that everyone should not rush to build positions. Impulse is the devil; blindly entering the market in an unclear situation may likely put oneself in a passive position. It is best to wait for the market consolidation to finish and stabilize before entering. Of course, the above operational suggestions are for reference only, as the investment market changes rapidly, and no one can accurately predict the next move. If you have different opinions, feel free to leave a message in the comments, so we can exchange ideas and progress together, because on the investment path, more perspectives mean more opportunities.
