Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9850662513 Why did it suddenly drop? This decline is the result of the combined action of technical and macro fundamentals: - Long term inability to break through the technical aspect: Bitcoin's recent attempts to break through the historical high resistance zone of $120000 have all failed, forming a clear "high-pressure zone" around $119500-120000. Multiple unsuccessful attempts to climb up consumed the power of the bulls, and some investors chose to take profits, leading to a price drop. Short term outflow of funds: On chain data monitoring shows that on August 19th, the Bitcoin network experienced a net outflow (Netflow) worth approximately $60.1 million, indicating that funds are withdrawing from the market in the short term, increasing downward pressure on prices. Macro environmental pressure: When the decline occurred, the US stock market (especially the S&P 500 and Nasdaq indexes) also closed weak on Tuesday. In addition, Federal Reserve Chairman Powell's upcoming speech at the Jackson Hole Conference, with his hawkish expectations, has raised concerns in the market about tightening liquidity, affecting all risk assets including cryptocurrencies. At present, the market's attention is focused on the key point of $113000. This is not only an important psychological barrier, but also a huge liquidity pool. For bears: breaking through this position will trigger a large amount of bullish leverage, which may further push the price down. For bulls: it is necessary to hold on to this place, as losing it may trigger a larger technical sell-off. On the contrary, if the price can stabilize and rebound here, breaking through $117000, it may trigger a bearish liquidation of up to $868 million, providing fuel for the price rebound. Is the long-term outlook still promising? Despite the unpredictable short-term trends, some top institutional investors remain confident in the long-term prospects of Bitcoin. In its latest report, asset management giant VanEck reiterated Bitcoin's target price of $180000 by the end of this year. The core logic lies in the sustained strong inflow of institutional funds, allocation of corporate balance sheets, and healthy mining expansion, which form the solid foundation of Bitcoin's long-term value. Currently, Bitcoin is at a watershed in short-term technical strength. Whether the support fortress of $113000 can be held will be the key to determining whether its next step is a deep pullback or a resurgence of upward momentum. Market participants should closely monitor the macro wind direction changes brought about by Powell's speech and the trading volume changes at key price levels, fasten their seat belts, and prepare to deal with possible drastic fluctuations Operation suggestion: BTC 112800 long first target to see 113590 second target to see 114659; - ETH 4080 long, first target is 4140, second target is 4200. Join the language community communication group to obtain more services 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system- 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance. Tencent Meeting Live: 985-066-2513 DingTalk Group Number: 120320009032 Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance! Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.

LM Funding raises $23 million to accelerate Bitcoin strategy According to Golden Finance, LM Funding America (NASDAQ: LMFA) announced the completion of approximately $23 million in financing, including $12.6 million in registered direct issuance and $10.4 million in private placement. The funds are mainly used to purchase more Bitcoin and strengthen the company's Bitcoin vault. The company has launched a Bitcoin funding strategy since 2021 and has accumulated 150 bitcoins, with 26 megawatts of mining capacity, and plans to acquire an 11 megawatt mining farm in Mississippi to expand its business.

At the opening of the US stock market, the Dow Jones Industrial Average rose 58 points, the Nasdaq fell 58 points, and the S&P 500 index fell 0.08%.

99999995 USDT transferred from HTX to unknown wallet According to a report by Golden Finance, at 21:05, 99999995 USDT (100097099 USD) were transferred from HTX to an unknown wallet, as monitored by @ whale.alert.

Analyst: Powell cautious attitude or short-term support for the US dollar Jane Foley, a foreign exchange strategist at Rabobank, said that if Federal Reserve Chairman Powell remains cautious about interest rate cuts at the Jackson Hole Conference, it may prompt speculators to close their short positions in the US dollar in the short term, thereby supporting the US dollar. Although the market expects the Federal Reserve to cut interest rates in September, the bank still predicts that the euro against the US dollar will rise to 1.20 next spring, as the market expects more interest rate cuts in the future.