Affected by the August non-farm payroll data in the United States, the market's concerns about the US economic recession have intensified, and the BTC price has fallen sharply from about $57,000 on Friday to a low of $52,550 on the 7th. Although there was a rebound on Saturday, it fell again in the early morning of today (8th), and fell to below $54,000 at one point. As of the time of submission, BTC has slightly recovered to $54,288, and it remains to be seen whether it will test the bottom again in the future.

These days everyone is bearish and not optimistic about the market value. The panic index has reached 27, indicating that many individuals and institutions have started to wait and see. Originally, everyone had expectations for BTC and ETH in September, but the recent performance has indeed been surprising. It has been in a continuous decline, and I believe many people have suffered losses and have no capital left to continue. (Forward)