Bitcoin Market Deep Correction: Price Fluctuates Dramatically, Market Sentiment Under Pressure.

Current price is 118,800 yuan, down 4.5% from the historical high of 124,457 yuan.

In early trading, it fell below the 118,000 yuan mark, reaching a low of 117,180 yuan.

Weak rebound: Although there has been a slight recovery, bullish momentum is clearly insufficient.

Macroeconomic Policy Impact:

U.S. PPI data exceeded expectations (month-on-month +0.9%), triggering inflation concerns.

The market is re-pricing Federal Reserve policy: September rate cut expectations have significantly cooled.

U.S. Treasury Secretary clarifies that "Z administration does not directly purchase cryptocurrencies," a statement that has been overly interpreted.

Risk assets are collectively under pressure, with funds rapidly withdrawing from the cryptocurrency market.

Selling pressure at historical highs is being concentrated and released: over 100,000 liquidations in the past 24 hours.

Profit-taking and panic selling are forming a vicious cycle. #美国7月PPI年率高于预期 #加密市场回调