Recently watched Fu Hang's stand-up comedy, which not only ignited my enthusiasm, but also provided a great interpretation of existentialism. In our lives, we are often bound by various responsibilities, expectations, and pressures, to the point that we forget the original intention of life - the love and curiosity for life itself. No matter how ordinary life may be, we should find a way to keep the fire in our hearts burning, unaffected by the external storms. The meaning of life is not given by others, but by our passion, persistence, and constant self-transcendence. Facing each day with enthusiasm, even the most ordinary life can become extraordinary because of our passion.
What happened? After consecutive two days of decline this week, yesterday BTC once again plummeted to a low point of $58,000.
I looked at what everyone on the internet is saying about the possible reasons for the decline:
1. Binance internally transferred 30,000 BTC, but the actual amount was 130,000 BTC. Although it was just a transfer, it caused some panic.
2. Binance froze the cryptocurrency assets of Palestinian users at the request of Israeli authorities, causing panic among Middle Eastern users.
3. The bitcoin spot ETF ARKB saw an outflow of over $100 million, setting a record for the largest outflow in the history of the fund. The outflow of ETFs is one of the reasons for market panic.
4. September is the month when summer ends and autumn begins. After experiencing a market downturn during the summer, investors may start to reassess their portfolios, leading to increased market volatility.
5. This BTC retracement is due to the liquidation of long leverages and the decline in US dollar liquidity. In addition, the market is waiting for Nvidia's financial report, avoiding volatility and seeking safety.
Bitcoin continues to maintain the short-term view from last night, focusing on selling at high levels. The reference for resistance is 61000-61500, which is considered as the middle band resistance, and the possibility of further downward pressure washing is greater. The short-term support is around 57500-57000, where spot positions can be gradually initiated. The medium-term support is around 55500, and it's advisable to be cautious about bottom fishing before a strong bullish stability signal appears.
The market these days is quite confusing. The technical indicators are all pointing to a bearish trend, but strangely, the two major drops occurred after the US stock market closed. It's hard to believe that it's not the Americans themselves causing the sell-off.
The way this is being operated feels like playing an unfair game. Just as the US stock market closes and everyone thinks they can relax a bit, suddenly there's a big drop in the market, as if someone deliberately took advantage when no one was paying attention. This kind of practice inevitably gives the impression of a conspiracy.
Come to think of it, some people don't make a move during the day, and wait until late at night when the market trading volume is low to suddenly initiate a sell-off, catching people off guard. Before retail investors can react, their wallets have shrunk. It's true that sometimes this market is really hard to guard against!
Perhaps these operations are aimed at making moves in the blind spots of the market, preventing retail investors from keeping up with the rhythm, and ultimately only being able to watch the numbers in their accounts shrink. However, if you think these are purely coincidental, then you are underestimating the strategic level of these 'big players'.
In short, the recent market is like a carefully designed 'conspiracy drama', with plot twists always appearing when you least expect it. The only thing we can do is to try to stay calm in this 'script' and not get scared out of our wits. Everyone, stay calm and see how this drama unfolds!