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Today, cryptocurrencies crashed across the board, with Bitcoin falling 5%, Ethereum falling 10%, and other tokens generally falling by more than 15%, and market liquidity shrinking sharply. There was no sign of a rebound. The Nikkei 225 index plunged 9% to trigger a circuit breaker, hitting a new low since October 2023, and the Topix financial stock index fell 12%; South Korea's KOSPI index fell more than 4%, and the government urgently suspended programmatic trading sell orders. Singapore's Nikkei 225 index futures plunged 10.2% intraday, triggering a circuit breaker, and COMEX gold futures fell below the $3,000 per ounce mark, hitting a new three-week low of $2,978; Holdings in gold-backed ETFs fell to their lowest level since November 2023!
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The most uncertain situation at the moment comes from the opening of the US stock market tonight. Due to the trade war exceeding expectations, the Nasdaq has dived nearly 6% last Friday, and the negative impact of the weekend's countermeasures has not yet been reflected in the US stock market, which is what the market is most worried about now. At present, tariffs have caused a stock market crash, and at the same time, the economy of the United States has the risk of recession, and then in this situation, the Federal Reserve has to make some compromises, and interest rate cuts will definitely come in the second half of the year. For the bottom, you can buy the bottom in batches of small positions, and now too, slowly copy the bottom of the pie, there is no problem with this position, don't stud, just buy it slowly. In fact, for cottages, when the pie stabilizes, the cottages will definitely rebound, and then continue to zero or adjust.
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The afternoon trend exhibited a distinct V-shaped reversal characteristic. Bitcoin, after a brief dip to the 74457 level, began a rebound. The bulls concentrated their efforts in the afternoon, pushing the price upward and breaking through the 77500 level before stopping. Ethereum also staged a rebound, starting its attack from the 1410 level, reaching a peak resistance level of 1520 before facing pressure and retreating. After opening lower this week, it has continued to decline, with the 4-hour chart showing a weak pullback at the short-term level. It is expected that the adjustment space will further deepen this week. Due to significant volatility, the current price is far from the breakout point, and after a sharp drop from a low open, it is not advisable to chase positions; it is necessary to wait for a rebound in the US stock market before considering short positions. Overall, Bitcoin faces considerable short-term adjustment pressure, and the operation should focus on shorting at higher rebounds, with caution against chasing gains.