Recently, the dog market has been continuously washed by $BTC , with some institutions forced to cut losses along with the big whales.
The core issue is that the market is all waiting to see whether the Federal Reserve will cut interest rates in September.
There have been many rumors about interest rate cut expectations lately; some firmly believe there will be no cut, while others continue to pressure for a cut. This polarization makes large funds in the market hesitant to act.
Everyone is now focused on Chairman Powell's speech tonight at 10:30 PM. It is worth noting that Trump has repeatedly asked Powell to lower interest rates, and even candidates for the Federal Reserve chairmanship are calling for a rate cut, but Powell remains indifferent.
One thing worth noting is that on-chain data shows that Huang Li is currently holding $140 million in long positions, which has already seen a floating loss of $9.81 million.
Historically, once big whales and major players start losing money or even face liquidation, the market is highly likely to reverse in the following trend.
Therefore, today's market volatility will be significant, which also means that our operational space is quite considerable.
What we should do now is not to panic and exit but to choose to gradually accumulate at the bottom.
