Brothers, this wave of Bitcoin's market is really exciting! Last month, it just surged to a historical peak of $123,000, and recently it has started to enter a 'cooling-off period'. Data analysis giant CryptoQuant's latest report indicates that Bitcoin's bullish index has dropped from 80 to 60, showing a slight cooling in market enthusiasm, but don't panic—the bull market isn't over; it's just entering a 'halftime break'!
Is the bull market on pause? There are two main reasons behind it.
Profit-taking: After reaching a historical high, many long-term investors choose to cash out, increasing short-term selling pressure, which is a normal operation.
Summer market is sluggish: July and August are traditionally slow seasons for the cryptocurrency market, with trading volume declining and large funds in wait-and-see mode.
But here's the key point—CryptoQuant emphasizes that as long as the bullish index doesn't drop below 40, the bull market tone remains unchanged! If it falls below 40, then we need to be cautious of a trend reversal (currently, the probability is very low).
September may welcome a super catalyst!
CryptoQuant research director Julio Moreno stated: The Fed may cut interest rates in September! If this comes true, global funds will flood into high-risk assets, with Bitcoin being the first to benefit. The market has already bet on this expectation in advance, and September could be the starting point for a new round of explosion!
How should retail investors play?
Don't chase highs and kill lows: In a volatile market, frequent operations are to be avoided; holding spot assets is the way to go.
Focus on low-priced altcoins: When Bitcoin is stagnant, funds may rotate into quality small coins.
Keep a close eye on the Fed's movements in September: Once the interest rate cut signal is out, it will likely ignite the market.
Summary: The bull market isn't over, just taking a breather! Be patient and wait for September; opportunities are always for those who are prepared!
(I am Ails, bringing you insights into the cryptocurrency world in plain language! Like and follow, next time we will talk about which altcoins may explode next!)
I am Ails, guiding you through the fog of the cryptocurrency world to seize hardcore opportunities! Hit follow; we will keep a close watch on the crypto opportunities amid the trade war storm! What you lack isn't luck but Ails' top-notch team!