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This viewpoint is now widely accepted
Saturday Morning
Happy weekend! The recent sharp decline in cryptocurrency prices is mainly due to changing expectations of Federal Reserve policies: Yellow Hair nominated hawkish Kevin◇ Waugh as Federal Reserve Chair, market anticipates he will push for balance sheet reduction and delay interest rate cuts, causing concerns over tightening dollar liquidity; combined with a 17% single-day plunge in silver triggering panic in commodity markets, tech stocks in the US stock market also declined in tandem, multiple negative factors resonated, leading to the sell-off of cryptocurrencies and other risk assets.
From a technical perspective, Bitcoin's daily chart shows a small bearish oscillation, with bulls and bears fighting, moving averages in a bearish alignment, with obvious upward resistance. Overall, it remains in a rebound correction within a downtrend, stabilizing but the trend has not reversed.
Trading suggestions
Bitcoin 84500-84800 range short, target 83000-82500.
Ethereum 2720-2760 range short, target 2680-2600#贵金属行情下跌