Focus

22:00 The U.S. Bureau of Labor Statistics released the complete report of the first quarter employment and wage census (QCEW) of 2024.

News

1. Ethereum spot ETF had a total net outflow of 47.3994 million US dollars yesterday, and the ETF net asset ratio reached 2.28%

2. According to TraderT monitoring, the U.S. spot Bitcoin ETF had a net outflow of 287.78 million US dollars yesterday.

3. The amount of liquidation on the Ethereum chain in August hit the second highest level in history

Yesterday's long and short orders were both closed, and the data can be followed again. This trend also confirms what we said that before the non-agricultural or interest rate hike, the dealer will smash the market again and absorb the funds at a low price. Yesterday's strategy was long first and then short, and the friends who followed the operation made a lot of profit again.

There are three main reasons for the decline in the market this morning: First, yesterday's spot market funds flowed out again in large amounts. The decline in funds will inevitably lead to a reduction in trading volume, leading to a decline in the market; second, the Ethereum chain loan liquidation in August hit a new high since May 21, causing Ethereum to continue to fall since it fell 22% in August; third, the market makers smashed the market to absorb funds, waiting for the non-agricultural data and interest rate hike policies to come out before absorbing funds at low prices to obtain maximum benefits.

Ethereum fundamentals are currently more negative than positive. Technically, it fell to 2303 in the morning, which is consistent with the point on August 8, but this price is not the real bottom at present. It will only form signs of stabilization when XXX appears on the daily line. Today's operation is short-selling.