Good morning, brothers! 🌞🌞
Last night, the cryptocurrency market plummeted, with three core reasons:
Under the expectation of interest rate cuts in September, early profits from BlackRock's ETF exited the market, which was a case of good news being fully priced in;
Trump's dismissal of Federal Reserve Governor Cook (unprecedented, threatening the independence of the Federal Reserve), along with his proposal to change the Department of Defense to the "Department of War," triggered market panic, causing BTC to follow the decline of US stocks;
Trump's new coin WLFI plummeted (all three of its tokens collapsed upon launch), undermining market confidence.
However, the fundamentals of BTC remain unchanged, and the fundamentals of the cryptocurrency market are still strengthening: the Philippines plans to buy 2,000 BTC annually to build national reserves (for 5 years), multiple countries and companies are increasing their holdings, and China may open BTC trading within 3 years, while stablecoin policies in the US are advancing.
SOL: A new wallet staked 16.28 million USD in SOL, and a US company plans to raise 400 million to build the world's largest SOL treasury;
ETH: 24-hour net outflow of 23,600 coins from CEX, this decline is a normal correction after a significant increase.
Market corrections provide buying opportunities; currently, you can choose strong coins to build positions gradually and buy the dip!!!
