Will the market continue to decline? Where is the bottom?

BTC and ETH have already reached the first target: $112,000 and $4,050, respectively.

The second target of $105,800 and $3,830 is also very close!

Currently, reaching the first target should lead to a rebound, but the height of the rebound may not be impressive.

The situation has actually been mentioned at the beginning of the month: the expectation of a rate cut in September was speculated in advance, Bitcoin broke new highs consecutively, but after all, there has not been a real rate cut yet, so the money in the market is still too scarce;

First, it is impossible to support a sustained rise, and second, it is impossible to support the rise of most cryptocurrencies; only a few quality cryptocurrencies have seen significant increases.

Although it was mentioned yesterday that the fundamentals of a bull market are still present, a deep correction is inevitable; otherwise, if a rate cut truly happens and market liquidity becomes sufficient, the main players won't be able to pull such a heavy load.

Where is the bottom? For BTC and ETH, the bottom should first look at the second target mentioned on Monday, $105,800 and $3,830; as for the third target: falling below $100,000 (around $95,000) and $3,500, the current probability has increased to 50%; altcoins will drop by 2-3 times the drop of ETH.

In the end, it’s still that saying: the more it falls, the more it tests everyone’s courage to buy the dip!