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The Bitcoin market experienced a fall last night, and this fluctuation involves several complex factors. First, economic data showed that the Producer Price Index (PPI) exceeded expectations, while the number of unemployment claims was lower than anticipated. These indicators have reduced the likelihood of an interest rate cut in September, which has had a certain negative impact on the Crypto Assets market.
Secondly, the US stock market opened lower, and Crypto Assets, as an emerging asset class, are often affected by the fluctuations of traditional financial markets.
It is worth noting that the net outflow of $293 million from the Bitcoin spot ETF in the United States has broken the previous trend of continuous net inflows. This change may reflect a cautious attitude among some investors regarding the short-term market outlook.
In addition, after Bitcoin reached a historical high, some investors chose to take profits, and the selling behavior further pushed the price down.
The combined effects of these factors have led to a pullback in Bitcoin prices. However, market participants still need to closely monitor long-term influencing factors such as global economic policies, institutional investment trends, and technological developments to better understand the future trends of the Crypto Assets market.