From the current situation, where will BTC fall? My preliminary opinions are twofold. As of Friday's Jackson Hole annual meeting, the market's expectation is that the expectation of a rate cut in September will weaken and the possibility of an economic recession in the United States will increase. This situation also occurred at the beginning of August. The decline on August 2 and 3 was due to the sharp revision of the non farm data at that time and the sharp decline of the labor population. The market expected that the U.S. economy might enter a downward channel, which even led to Trump replacing the director of the U.S. Bureau of Labor Statistics. Last time, BTC fell to a low of $111900 and then began to rebound. There was no clear positive news during the rebound, but due to the weekend of August 2nd and 3rd, considering the possible decrease in liquidity, the selling weakened. So personally, I think the range of $111000 to $112000 should be relatively stable, and the situation after the Jackson Hole annual meeting will depend on Powell's presentation and the market's understanding. This article is sponsored by Bitget | @ Bitgetzh