#加密市场回调 In August 2025, the crypto market experienced a significant correction. Bitcoin (BTC) fell from a high of $124,496 to $115,744, a drop of approximately 7%. Ethereum (ETH) fell 2.5% to $4,354, and altcoins generally declined by 5-10%. The main factors behind this correction include: 1) macroeconomic uncertainty, diminished expectations of a September Fed rate cut, and a shift in investor sentiment toward fear ahead of the Jackson Hole conference; 2) leveraged liquidations, with over $530 million in long positions forced to close, exacerbating selling pressure; 3) technically, BTC fell below the middle Bollinger Band, with the RSI indicating an oversold signal. Market correlation with traditional assets increased, and tariff policies and inflation data exacerbated volatility. Historically, September is often a period of correction, but October, with an average return of 18.5%, may signal a rebound. Current support levels are $108,000-$112,000 for BTC and $4,200 for ETH. Institutional capital inflows into ETH ETFs ($2.9 billion) and the accumulation of long-term holders indicate that fundamentals remain strong, and pullbacks may be buying opportunities, but one must be wary of short-term volatility and regulatory risks.
