💥 Gate Square Event: #PTB Creative Contest# 💥
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CandyDrop x PTB 👉 https://www.gate.com/zh/announcements/article/46922
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📅 Event Period: Sep 10, 2025 04:00 UTC – Sep 14, 2025 16:00 UTC
📌 How to Participate:
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Track real-time trends in the crypto space and seize the best trading opportunities. Today is Saturday, September 6, 2025. I am Wang Yibo! Good morning to all crypto friends☀️ Daily attendance👍 Like and make big money🍗🍗🌹🌹
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The US stock market showed a trend of fluctuating downward in Friday's trading. By the close, the Dow Jones Industrial Average had initially dropped by 0.48%, the S&P 500 index fell by 0.32%, while the Nasdaq Composite Index only slightly declined by 0.03%. This performance reflects the cautious sentiment in the market amidst several uncertainties in recent times. The cryptocurrency market exhibited mixed movements, with overall performance being quite volatile. The latest US non-farm payroll data has become the focal point of the market, as this data is likely to provide a decisive influence on the Federal Reserve's interest rate decision at its next meeting in two weeks. The market generally believes that if the non-farm data performs poorly, it will increase the likelihood of the Federal Reserve lowering interest rates, thereby affecting both the stock market and the cryptocurrency market. In addition, concerns over the independence of the Federal Reserve and the rising demand for safe-haven assets driven by escalating geopolitical risks may also provide support for the current market rally. Investors need to closely monitor various macroeconomic data and policy dynamics in such a complex and changing market environment, and stay updated on real-time developments.
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Bitcoin rebounded from the low point of 110400 yesterday morning, showing a strong upward trend during the day session, rising all the way to 113341. However, the evening session saw a drastic change, influenced by non-farm payroll data, with the price movement resembling a roller coaster, forming a "Heaven and Earth Needle" pattern. Subsequently, a pressure platform was formed above the high point of 113300, leading to a pullback, with the lowest drop reaching 110166 before stabilizing. As of now, Bitcoin is fluctuating around the level of 110800. From the current market structure, although the daily line has not completed its final close, it has tentatively presented a cross bearish line with a long upper shadow, indicating that the price is facing significant bearish pressure during the upward movement, with notable selling pressure at high levels. The 4-hour chart shows that an important resistance level has formed around 113500, where two consecutive highs followed by declines have created a preliminary double top pattern, suggesting that a phase top is forming. Meanwhile, the Bollinger Bands are gradually narrowing, with the price retreating from the upper band to near the middle band, indicating that the market may enter a phase of consolidation, while the overall expectation remains bearish.
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Ethereum's early trading session saw a rebound from a low of 4289. This rebound was quite significant, directly pushing to a high of 4490 in the evening session. The emergence of this high point indicates that there is certain buying power in the market in the short term, driving prices upward for a test. However, after reaching the high of 4490, Ethereum failed to maintain its upward momentum and instead experienced a notable decline, directly returning to the starting point of the session. Subsequently, the price further dropped, hitting a low of 4253, where it found support and began to rebound. As of now, Ethereum is running around 4320. From the current market structure, after completing a larger degree “M top” pattern adjustment, it is gradually transitioning into a smaller degree “M structure” consolidation, overall in a critical phase of directional decision-making. Currently, the market has entered the weekend, and typically, trading activity tends to decrease during weekends, which also narrows the volatility base of the market. In this market environment, overly aggressive operations often face significant risks, so it is recommended to focus on the correction of the market around the aforementioned range.