The main reason for the big dump of #打榜优质内容# .

In the early hours of last night, the crypto market suffered a sudden setback, with ETH rapidly falling from $3600 to $3431, and Bitcoin also failing to maintain above $115,000. The trigger for this big dump was primarily due to the US employment data, which was previously interpreted as positive, being suddenly revised downwards by officials, causing panic in the market.

In May, the non-farm payrolls originally reported an addition of 144,000 jobs, but it was significantly revised down to only 19,000; the June figure was also cut from 147,000 to 14,000. Such a "big dump" of revisions directly crushed the entire market, rendering even financial reports meaningless. It's like a project team loudly announcing that they would buy back $10 million worth of tokens to boost the market, but in the end, they only managed to put together a mere $500, leading to a collapse in market sentiment!
Trump also spoke on this, calling it a "premeditated manipulation":
"I believe the employment data released today has been deliberately manipulated to embarrass me—just like before and after the 2024 election, they first present some favorable data for a few days, and once the election is over, they drastically revise it down. This is fundamentally a scam."
He then directly ordered the removal of Labor Statistics Bureau Director Erika McEntarfer from her position, with Deputy Director William Wiatrowski temporarily taking over.
However, looking at it from another perspective, this "big dump" in employment data actually provides more reasons for interest rate cuts, and from this level, the impact may just be temporary.

According to Alternative data, the cryptocurrency fear and greed index today is 55 (yesterday it was 65), indicating a significant drop in market greed sentiment. Note: The fear index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media heat (15%) + market surveys (15%) + Bitcoin's proportion in the overall market (10%) + Google Trends analysis (10%).
According to Coinglass data, if Bitcoin falls below 112,000 USD, the cumulative long liquidation intensity on mainstream CEX will reach 1.09 billion. Conversely, if Bitcoin rises to 116,713 USD, the cumulative short liquidation intensity on mainstream CEX will reach 2.504 billion. #6 BTC全民空投限时派送中#