The Bitcoin market experienced a severe fluctuation at the beginning of August. On August 1, the price of this cryptocurrency fell below the 29,000 USD mark, with a single-day decline of 2.8%. This downward trend continued to the next day, and on August 2, the value of Bitcoin once dropped below 28,000 USD.

According to data from the crypto assets analysis platform Coinglass, this round of fall has had a huge impact on investors. In the past 24 hours, about 160,000 traders experienced liquidation, with total losses reaching up to $629 million. As of August 2, the number of investors who encountered liquidation in the crypto assets market exceeded 110,000 in the past day.

This market trend has attracted widespread attention from industry insiders. Analysts point out that the significant fluctuations in Bitcoin prices reflect the high-risk characteristics of the crypto assets market. They advise investors to remain cautious and manage risks when participating in trading.

Nevertheless, some long-term bullish experts on Crypto Assets believe that these short-term fluctuations are not enough to change the long-term development prospects of Bitcoin. They point out that the continued entry of institutional investors and the gradual acceptance of Crypto Assets by the global financial system may support the value of Bitcoin in the future.

Regardless, this price adjustment serves as a reminder to market participants: investing in Crypto Assets requires a high risk tolerance, and investors should make informed decisions based on their own circumstances.