Why has the market been experiencing continuous fluctuations and repeated consolidation recently?

In fact, there are deep considerations regarding the flow of capital behind this. If we really wait until the Fed lowers interest rates in September, and market expectations are fulfilled, the enthusiasm of retail investors to enter and buy the dip is likely to significantly increase—at that point, trying to consolidate will cost the major players more and take longer. In simple terms, if you really want to consolidate efficiently, July is the golden window; delaying further will only increase the risks.

Looking further ahead, if the market generally expects to enter a major bear market cycle in 2026, then the operational time left for the major players is actually not ample. Whether it’s unloading at high levels, clearing floating chips, or completing chip turnover, all of this needs to be planned in advance. After all, if we wait until September for the interest rate cuts, then we have to rally in August first, and retail investors will have already reacted during the previous rise; by then, the effect of consolidation will be greatly reduced, and it might even backfire. #美国加征关税 #加密市场回调