BlockBeats news, on August 20, Bitcoin attempted to break through the $116,000 mark in the evening but failed, subsequently showing a significant weakening of bullish forces and a rapid price decline. It has now fallen below the $113,000 support level, briefly touching $112,000 during the session. If it continues to break downward, it may reach the critical psychological level of $100,000. Ethereum is also under pressure, losing the $4,100 mark. Affected by the weakening cryptocurrency market, related concept stocks have also seen a simultaneous decline. On August 19, this sector fell overall by 6.45%, and on the night of the 20th, most continued to decline: Bitmine Immersion Technologies dropped nearly 4%, Bullish fell over 3%, Robinhood decreased by 2%, and Coinbase dropped about 1%. This indicates that market risk appetite is declining, and investors need to remain cautious in the short term. In the context of increasing market volatility, investors need more flexible and safe trading tools. BiyaPay provides users with spot and contract trading for over 200 cryptocurrencies including BTC and ETH, with zero fees, helping investors reduce costs and make flexible arrangements. Additionally, BiyaPay innovatively supports users in trading US stocks and Hong Kong stocks directly through USDT without the need to apply for an offshore account, enabling real-time participation in the global stock market and achieving seamless integration of digital assets with traditional capital markets. In the face of the complex situation of falling cryptocurrencies and stocks, effectively utilizing BiyaPay's diversified products and tools will provide investors with more operational space and risk-hedging opportunities in a volatile market.

#BTC #ETH #USDT