Last night, the market hit 70,000 points and then quickly fell back. It was rumored that the US government transferred BTC worth 2 billion US dollars to a new address, which caused panic in the market. However, the US government has no intention to sell. This behavior is more regarded as a high-level turnover, aimed at accumulating momentum for subsequent increases.
The current price has a high cost of directly pulling up, so it is expected that the market will experience a small shock to eliminate some investors and create favorable conditions for subsequent pull-ups.
But there is no need to worry that the market will fall sharply to attract investors to buy. This view has been mentioned before. Therefore, there is no need to panic, and all news serves the fluctuations in the market. The bad news at the bottom is intended to scare investors because the main funds are absorbing funds; while the good news at the high point is intended to induce investors because the main funds are ready to ship.
Investors holding spot are advised to remain calm and not act rashly. The market in August is expected to perform well.
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