Why is the current market so depressed?

1. **Market value analysis**: The total market value of cryptocurrencies is about $2.2 trillion, of which BTC accounts for $1.2 trillion. To push the price of BTC from the current $57,000 to $74,000 (a new high), an additional $280 billion needs to be injected. Such a large amount of funds is not something that retail investors can easily provide.

2. **Low volume**: The market's volume has been very low since April 2023. Volume is crucial to driving prices up because it represents capital inflows and market liquidity.

3. **Source of liquidity**: Where do we need liquidity from? Treasury bond repurchases are a way to provide $2 billion of liquidity to the market every week. It is expected that interest rate cuts may be made this year, but they may be delayed due to election factors. Election years are usually good for market investment.

4. **Emotional impact**: Investors are generally bearish at present. The massive sell-off by miners, the negative news about Mt. Gox, and the sale by the German government have all had a negative impact on market sentiment. We need to wait for these negative news to be eliminated, or wait for positive catalysts to appear.

5. **Conclusion and Strategy**: We need to be patient and wait. The market will not wait for us, but when market conditions are ripe, it will rise. Therefore, we should always be prepared and wait for the right time to act.

These factors combined explain the current market downturn and suggest possible future development directions. #美国6月CPI大幅降温 #美联储何时降息？ #美国大选如何影响加密产业？ #币安7周年 #币安合约锦标赛