晨光Crypto
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Stay steady, don’t get scared away: today’s market gives you three points of cold reflection.
Today when I opened my eyes, many friends in the group were shouting, 'It’s over, it’s over, BTC has dropped.' I glanced at the market, Bitcoin was around $113,000, with a slight intraday pullback of less than 1%. To be honest, this kind of fluctuation in the crypto world isn’t even a ripple. But emotions are like this; some people get scared and shake, while others take the opportunity to pick up chips.
I want to talk about the logic behind today’s market and give everyone three points of cold reflection:
1. The root of the decline: it’s not bad news, it’s fear.
What the market is worried about now is macro risk, especially Powell's speech. When the Jackson Hole meeting starts tomorrow, the market fears he will adopt a hawkish stance. So smart money reduces their positions in advance, a typical case of 'sell the rumor, wait for the news'. This is not a new trick; every time a key macro event occurs, the crypto circle goes through a game of expectations.
I want to talk about the logic behind today’s market and give everyone three points of cold reflection:
1. The root of the decline: it’s not bad news, it’s fear.
What the market is worried about now is macro risk, especially Powell's speech. When the Jackson Hole meeting starts tomorrow, the market fears he will adopt a hawkish stance. So smart money reduces their positions in advance, a typical case of 'sell the rumor, wait for the news'. This is not a new trick; every time a key macro event occurs, the crypto circle goes through a game of expectations.
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