BiyaPay Analyst: Bitcoin Breaks Below $113,000, Cryptocurrency Stocks Tumble 6.45%

August 20th. In the evening, Bitcoin failed to break through the $116,000 mark and then witnessed a significant weakening of bullish momentum, resulting in a rapid price decline. It has now dropped below the $113,000 support level and briefly touched $112,000 intra-day. If the downward trend persists, it may test the key psychological level of $100,000. Ethereum is also under pressure and has fallen below $4,100. Affected by the weak cryptocurrency market, related stocks have also declined simultaneously. On August 19th, this sector as a whole fell by 6.45%, and on the 20th night session, most continued the downward trend: Bitmine Immersion Technologies dropped by nearly 4%, Bullish by more than 3%, Robinhood by 2%, and Coinbase by around 1%. This indicates that market risk appetite is decreasing, and investors need to remain cautious in the short term. In the context of intensified market volatility, investors need more flexible and secure trading tools. BiyaPay offers users over 200 types of spot and contract trading for cryptocurrencies such as BTC and ETH with zero transaction fees, helping investors reduce costs and flexibly formulate strategies. Additionally, BiyaPay innovatively enables users to directly trade US stocks and Hong Kong stocks with USDT without the need for an offshore account, allowing for real-time participation in global stock markets and seamless connection between digital assets and traditional capital markets. Facing the complex market situation where both cryptocurrencies and stocks are falling, the prudent use of BiyaPay's diversified products and tools will provide investors with more operational space and risk hedging opportunities in volatile markets.