Jingyi Discusses - Bitcoin Falls Below 110,000, Is the 'September Curse' Coming Early? September May See Deep Corrections

1. Market Status:

The cryptocurrency market is experiencing increased volatility, with Bitcoin falling below 110,000 USD on the 26th (lowest at 109,324 USD, the lowest since early July), and Ethereum dropping below 4,400 USD (down nearly 8% in 24 hours); over 900 million USD in liquidations occurred across the network in 24 hours, with Ethereum and Bitcoin long positions losing 322 million USD and 207 million USD respectively; mainstream altcoins fell across the board, with Sol down over 8%, XRP down 6%, and smaller market cap tokens like PENDLE seeing daily declines of up to 13%.

2. Long-term Bearish Outlook:

The strong performance of Bitcoin in July and August may reverse in September, with a high probability of testing the support level around 110,000 USD; Ethereum may briefly reach new highs before dropping 20%-30%, while altcoins could see declines of 30%-50%.

3. Core Reasons:

The September interest rate cut by the Federal Reserve is not favorable and may act as a catalyst for uncertainty. Unlike the 'soft landing rate cuts' expected in 2024, this could represent a 'major turning point', leading to synchronized corrections in both the stock and crypto markets; Bitcoin has a CME gap between 93,000-95,000 USD (concentration of liquidity), with retail investors primarily accumulating above 110,000-120,000 USD, necessitating a drop in prices to the 'maximum pain zone' for retail investors to flush out 'weak hands'. #加密市场回调 #特朗普罢免美联储理事库克 #比特币远古巨鲸持续出清 $BTC $ETH