Viewpoint: Inflation Data Intensifies Market Bearish Sentiment, Bitcoin's Key Psychological Support Level at $100,000

BlockBeats News, September 1st, Kronos Research CIO Vincent Liu stated that inflation data has intensified bearish market sentiment, which initially emerged after a series of large-scale Bitcoin whale sell-offs triggered leveraged position liquidations.

Vincent Liu believes: "Bitcoin's key psychological support level is at $100,000, with leveraged positions under pressure, highlighting its fragile liquidity." He also added that Ethereum's key support level is at $4,000. "If these support levels are breached, it could trigger further declines and more widespread liquidity tightening, but a true bear market requires a more sustained decline."

Regarding this week's non-farm payroll data, Vincent Liu stated, "A significant surprise in job growth could trigger sharp market volatility—a strong data could pressure the cryptocurrency as risk appetite wanes, while weaker-than-expected data could boost demand." (The Block)