Odaily星球日报讯 Matrixport 发布图表称，今早比特币突然大幅下跌。由于周一交易后的看涨势头不足，上周因美联储鸽派言论而买入比特币的多头可能已被清算。今天的回调并无明显事件触发，表明在低流动性环境下，多头清算可能是主因。如果比特币跌破 59000 美元美口，可能会引发更多的市场担忧。

Matrixport：多头清算比特币大幅下跌，59000美元关口成焦点

Odaily Odaily News Matrixport released a chart saying that Bitcoin suddenly fell sharply this morning. Due to the lack of bullish momentum after Monday&#39;s trading, the longs who bought Bitcoin last week due to the Fed&#39;s dovish remarks may have been liquidated. Today&#39;s pullback was not triggered by any obvious events, indicating that long liquidation may be the main reason in a low liquidity environment. If Bitcoin falls below $59,000, it may cause more market concerns.

Matrixport: Bitcoin price drops sharply as long positions are liquidated, $59,000 becomes the focus

PANews reported on August 28 that according to The Block, BTC Markets cryptocurrency analyst Rachael Lucas said: "The sluggishness of the cryptocurrency market today is not caused by a single factor, but seems to be the result of the combined effect of multiple factors. Technical indicators show that the US dollar index (DXY) is in an oversold state on the daily chart, which may mean that the US dollar could rebound, and this usually puts downward pressure on risk assets such as cryptocurrencies." Lucas added that seasonal factors may be related to the market downturn. The "September effect" traditionally leads to poor market performance, due to portfolio rebalancing, tax loss harvesting, and increased caution before the US elections.

The analyst said that the large amount of cryptocurrency liquidations reported in the past day has exacerbated these adverse factors. Glassnode data shows that over the past 24 hours, cryptocurrency long positions worth over $287 million have been liquidated. SOFA.org Insights Manager Augustine Fan said: "Short-term volatility is driven by buy-side, as traders rush to buy downside protection (put options), as potential momentum remains weak in the short term due to oversupply and lack of on-chain catalysts." Ethereum price continues to be under pressure, as the spot Ethereum ETF has reported persistent net outflows, recording the eighth consecutive day of outflows on Monday. Fan said "Ethereum mainnet is still in an identity crisis, leading to the continued poor performance of Ethereum ETFs." Independent market researcher Nick Ruck said in a statement that "Ethereum Foundation's $100 million budget from selling Ethereum will add more selling pressure, so Ethereum's situation is more difficult than other cryptocurrencies."

BTC Markets' Lucas forecasts that if Bitcoin continues to trade below its 50-day moving average, a key technical level on the daily chart, Bitcoin may drop to a low of around $56,000 in the near term. According to TradingView data, Bitcoin's 50-day moving average is currently at $61,991.

Analysts: Today's downturn in the crypto market is caused by multiple factors, including expectations of a rebound in the US dollar, net outflows of ETF funds, seasonal factors, etc.

According to the latest weekly report from CoinShares, digital asset investment products saw total inflows of $533 million last week, the largest inflows in five weeks. Bitcoin inflows reached $543 million, with most of the funds flowing in on Friday, after Jerome Powell made dovish remarks, indicating that Bitcoin is very sensitive to interest rate expectations.

CoinShares: Digital asset investment products saw inflows of $533 million last week

Table of Contents
- ARKB sees the largest net outflow in the history of the fund
- Waiting for NVIDIA's earnings report, the Dow Jones hits a new all-time high
- Ethereum briefly fell below $2,400
- $316 million in liquidations across the network in the past 24 hours
- Top 10 token performance

The price of Bitcoin continued to fluctuate downward yesterday and plunged rapidly after 5 AM this morning (28th). Earlier at 06:15, it briefly touched $58,000, the lowest in nearly ten days.
It seems that the market is still preparing for a second bottom at the moment, currently reported at $59,090, down 6% in the last 24 hours.