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Event ends: August 9, 16:00 UTC
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This week's market is really a whipsaw show, the long and short get liquidated data is enough to make anyone's scalp tingle, I truly admire it!
I originally thought that the US stock market would be closed on Friday, so the crypto market should be able to take a breather, but instead, it directly plummeted by 3,000 points. This trend is truly unexpected and completely disregarding logic.
Looking back at Thursday, when the non-farm payroll data was released, there was a sell-off followed by a rally, and Bitcoin briefly surged to 110,000. However, it couldn’t hold up and fell back as it encountered resistance, starting to consolidate. By Friday, normally the U.S. stock market would be closed, and everyone was just chilling, but Bitcoin continued to drop, hitting a low of 107,200, which really tests people's resolve.
Market trends are something that no one can fully grasp; it's not the volatility that is frightening, but rather the mindset that can explode.