The current Bitcoin market is experiencing an unprecedented storm of selling pressure. Since Bitcoin broke through the $16,000 barrier, we have never seen such pessimistic market sentiment and such fierce dumping wave. The scale and intensity of this sell-off even surpass the whipsaw period of over 7 months in 2024, as well as the pullback that occurred not long ago when it fell back to $74,000.

Market observers believe that the short-sellers this time seem to be more determined and powerful than ever before. This unusual market behavior has sparked deep concern among investors, and many are beginning to question whether this signals a major turning point for the cryptocurrency market.

It is worth noting that despite the strong selling pressure on Bitcoin, the overall cryptocurrency market still demonstrates a certain level of resilience. Meanwhile, related crypto concept stocks have generally risen in the U.S. stock market, showing the traditional financial market's continued optimism towards blockchain technology.

However, market participants should remain vigilant as the Federal Reserve is about to release the minutes of the July meeting, which could have a significant impact on the overall financial markets, including the cryptocurrency market. During this period of uncertainty, investors should stay calm, closely monitor market trends, and manage risks effectively.