Brothers, good morning!!! 🌞🌞
How are the brothers from last night??? After the breakthrough to 4957, #以太 started to correct, dropping all day yesterday, with the morning low touching the 4310 position.
What exactly caused the market to undergo another deep wash yesterday? A’Er analyzes the following three points:
①: Good news is fully priced in, funds are taking profits, the expectation of a rate cut in September has been fulfilled, and some funds choose to cash out, plus early buyers of BlackRock ETF are gradually selling, bringing selling pressure.
②: Trump suddenly dismissed Federal Reserve Board member Cook, an unprecedented move, raising concerns in the market about the independence of the Federal Reserve. The U.S. stock market plummeted, and #大饼 also fell, with Trump even suggesting renaming the Department of Defense to the "War Department," causing panic.
③: The Trump family coin—$WLFI went online and dropped significantly, undermining market confidence, further dragging down $BTC .
The fundamentals of the market have actually not changed:
1. Filipino lawmakers propose establishing a national strategic Bitcoin reserve, purchasing 2000 BTC annually for 5 years;
2. More countries and companies are increasing their positions, and there are even rumors that China may open up BTC trading within 3 years;
3. The stablecoin policy in the U.S. is also progressing, overall positive outlook remains.
$SOL has compounded positive news:
A huge whale withdrew 80,000 SOL from Binance and staked it;
U.S. company Sharps Tech plans to raise $400 million to establish the largest SOL treasury.
These all indicate that funds are still being allocated.
The decline of #ETH is more about short-term profit-taking, with 23,600 ETH flowing out of CEX in the past 24 hours, which is essentially a normal correction after a rise.
The market correction presents an opportunity to enter, and it is currently recommended to gradually buy the dip and reasonably allocate positions.
