Understanding the recent decline from a fundamental perspective:

The U.S. non-farm payrolls significantly fell short of expectations, indicating that the current job market is not thriving, which indirectly suggests that the economic situation is not ideal;

At the same time, the employment data for May and June was violently revised downwards, which also indicates that the economic conditions in the second quarter were not as good as previously announced;

The conclusion is that the rise from May to July is very likely a market illusion!#加密市场回调