On September 9th, according to CoinDesk, the market suddenly fell after the employment report was released on Friday, and long positions in cryptocurrencies over $220 million were liquidated. Presto Research analysts Peter Chung and Min Jung said in today's report, "Bitcoin is seriously undervalued, and macro factors have dominated the BTC price discussion recently, and the market has ignored one of the key fundamentals underpinning Bitcoin's value - cyber security." "Hashrate has reached an all-time high of 679EH/s, making it the safest network to date." They added: "If you believe that this trend will continue (in fact, the emergence of spot ETFs means that our environment is much better than ever), then BTC appears to be seriously undervalued at the moment." Lucy Hu, a senior analyst at Metalpha, said, "It seems that the lower-than-expected employment data is currently dominating market sentiment, as broad assets have declined since Friday's data was released." We expect the cryptocurrency market to remain highly volatile until the next Fed meeting. "