Jiang Zhuoer: Liquidity conditions have not yet shown signals of a bull market start; Bitcoin may rebound to $68,000-$70,000 before facing a final drop.

TechFlow news, on August 8, Jiang Zhuoer, founder of BTC.TOP Pool (B.TOP), stated in a post that stablecoins in the current crypto market are continuing to flow out, and capital conditions have not yet shown signs of a bull market launch.

Data shows that over the past month, the total market capitalization of stablecoins has continued to decline. Among them, USDT's market cap decreased from $184.2 billion to $183.1 billion, USDC's market cap decreased from $73.28 billion to $72.15 billion, with a combined reduction of approximately $2.23 billion.

Jiang Zhuoer believes that current market capital conditions do not support the start of a new bull market. Bitcoin may rebound to the $68,000 to $70,000 region in the short term at most, and will see a final round of decline after liquidating short positions.