Traders' Perspective: Bitcoin Could Rise to $68,000.

Mister Crypto believes that if Bitcoin price can maintain above $64K, we will likely see a pump straight to $68K. Weekends are often low on momentum, so Bitcoin price will still fluctuate around $64K.

Last week, there was a breakout through the $64K barrier, when FED Chairman Jerome Powell spoke about cutting interest rates. However, J. Powell did not give details on the timeline. You may not know that the $64K mark was previously a strong support for Bitcoin for many months after the Bitcoin ETF spot was traded.

Another trader named Eljia is more bullish. Eljia believes that it is time for Bitcoin to move towards $68K - $70K. The reason this trader gives is that Bitcoin's RSI has not reached the overbought zone. Currently, RSI is at 66.11 and may increase further in the near future.

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In less than 30 days, this event could bring BULLRUN to the crypto market!

Bitcoin surpasses $62,000 after J. Powell (FED Chairman) said at the Jackson Hole conference: "It's time to adjust policy".

This implies that the FED is ready to lower interest rates at the next FOMC, which will take place on September 18, 2024. The US interest rate cut will pave the way for loose monetary policy, opening the door to growth for all types of investments, including stocks, real estate and even crypto.

At the end of his speech, J. Powell received a warm applause from the attendees - including many leaders from major central banks around the world.

Therefore, it is very likely that the market will start to increase strongly in the long term, starting from the end of 2024!

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🔴 Many tokens have grown by more than 1000%. What is the reason why $TRX and Tron Ecosystem have exploded in recent days?

1. The emergence of Sun Pump. Grasping the high-risk mentality of investors, Justin Sun launched the Meme Fair Launch called Sun Pump on August 12. This product has received positive responses from traders, helping Tron Network attract great attention.

Many memecoins on Tron Blockchain have increased strongly in price such as SUNDOG, SOFAR, ... with an increase of over 100%, even more than 1000%. However, investors should note that high profits often come with high risks.

2. The development of Tron blockchain. Besides the Memecoin craze, Tron blockchain also recorded remarkable developments in 2024. According to Token Terminal, Tron blockchain has surpassed Ethereum with fee revenue reaching nearly $435 million in the past 90 days, more than 50% higher than Ethereum's $364 million.

Since the beginning of 2024, Tron network's cumulative revenue has skyrocketed to $1.4 billion - leading the entire Crypto market. TRX (TRON) token price has increased by more than 20% since the beginning of the week, currently trading around $0.163.

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Huge Token Unlocks Next 7D:
- Oasis (Aug 18): 151M ROSE
- Pixels (Aug 19): 54.37M PIXEL
- Avalanche (Aug 20): 9.54M AVAX
- SpaceID (Aug 22): 18.49M ID
- Galxe (Aug 23): 586 670 GAL
- Ethena (Aug 25): 14.89M ENA

Linear Vesting:
- Solana: 66 500 SOL /Day
- Worldcoin: 5.32M WLD /Day
- Avalanche: 100k AVAX /Day

Please refer to the token unlock schedule and combine other factors to analyze before making a suitable altcoin trading strategy!

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💥 Why is Bitcoin "stuck" below $60,000?

Bitcoin has been stuck in the important price zone between $57,800 and $61,815 for the past week. In particular, the 50-day SMA has become a strong resistance at $61,662. Here are the main reasons:

1/ Weakening demand for Bitcoin spot. According to Glassnode, the cumulative volume Delta (CVD), which represents the net balance between Bitcoin spot buys and sells, has been recording continuous selling pressure since BTC reached its ATH on March 14, 2024.

2/ Bitcoin price is below the 50-day SMA. On August 5, 2024, Bitcoin first broke through the important support, which is also the 50-day SMA. This negative price situation is related to the Japanese Yen carry trade event and the fear of a global economic crisis.

Instead, BTC price is trending to form a Death cross between 50MA and 200MA. This is a relatively negative signal for the market in the short term. Thus, we may have to face a few weeks of Bitcoin sideways and wait for the 50MA to increase to hope for a better outlook.

There is a small positive news that Bitcoin whales have been buying large volumes at prices below the 50MA line, according to Material Indicators.

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Huge money flow may flow into the crypto market in the last 3 months of the year when this positive news just happened!

The United States has just released the latest Consumer Price Index data, CPI Y/Y decreased to 2.9%, even lower than the predicted 3%. This is extremely positive when CPI Y/Y has been continuously decreasing since April 2024.

Investors expect that, with CPI decreasing to nearly 2%, the possibility of the FED lowering interest rates is increasingly high, because inflation has been extremely well controlled.

The FED may even lower interest rates in September without waiting for the CPI to decrease to 2%. The reason comes from other economic indicators that are developing badly and concerns about the risk of recession.

Therefore, lowering interest rates and loosening monetary policy is an effective way to prevent economic recession, as well as inject more money into financial markets, including Bitcoin and altcoins.

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Crypto Startup Investment Flow Surpasses Last Year, Signaling VCs Are Ready to Spend!

In its latest report on crypto startup funding in Q2/2024, data analytics firm Pitchbook has revealed a number of notable figures. Total investment in crypto startups in Q2 increased by 2.5% to $2.7 billion, but the total number of successful fundraising deals decreased by 12.5% ​​compared to Q1/2024.

In the first half of 2024, crypto startups successfully raised nearly $5.4 billion through 1,078 fundraising deals. On average, crypto startups raised about $5 million through a successful fundraising round.

Commenting on the situation of Crypto startups in the past quarter, Pitchbook said that there were many positive signals from institutional investors in the Crypto market: "With investor sentiment returning to positive (barring an unexpected downturn), we expect investment volume and pace to continue to increase throughout 2024"

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Token Unlock Next Week:

- Aptos (Aug 12): 11.31 million APT

- Sandbox (Aug 14): 205.59 million SAND

- StarkNet (Aug 15): 64 million STRK

- Arbitrum (Aug 16): 92.6 million ARB

- ApeCoin (Aug 17): 15.6 million APE

- WorldCoin: 5.32 million WLD per day

- Solana: 66.5k SOL per day

- Avalanche: 100k AVAX per day

Many familiar tokens have quite large unlock schedules next week. Refer to the token unlock schedule and combine other factors to analyze before making a suitable trading strategy!

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The market is worried that the Fed's interest rate cut will cause the market to adjust further based on historical data. However, this may be more of a cause for celebration than a cause for concern.

In fact, not every interest rate cut causes the market to decline. Look at the following statistics:

- Of the 4 interest rate cuts in the 21st century, the stock market fell immediately in the last 2 times. However, the price increase performance in the following months was extremely impressive.

- While the previous 2 times, the S&P 500 increased in price immediately after the first interest rate cut and both times led to recessions in 2001 and 2008.

The first interest rate cut by the FED always brings fluctuations and impacts on the global economy. With the current situation, the FED will have to cut interest rates in 2024 to ease the risk of economic recession.

With the media hype and investors becoming more sensitive to news and volatility, the post-rate cut period could see a huge influx of money into financial markets.

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Unlock Tokens next week:
- Immutable X (August 9): unlock 32.5 million IMX
- XAI Game (August 9): unlock 35.88 million XAI

- IO. net (August 11): unlocked 2.11 million IO
- Solana: unlock 66,540 SOL every day

- WorldCoin: unlock 5.32 million WLD every day
- Avalanche: unlock 100,000 AVAX every day

- Polkadot: unlock 400,000 DOT every day
- Near Protocol: unlock 415,000 NEAR every day

Many familiar tokens have a fairly large unlock schedule next week. Refer to the token unlock schedule and combine other factors for analysis before coming up with a suitable trading strategy!

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The global financial market has just experienced the worst day since Covid 2020 when Stocks (US), Gold and Crypto dropped very deeply.

Bad economic indicators appeared, causing negative impact on the USD and raising concerns about an upcoming recession. The last buoy we can hope for is that the FED cuts interest rates and loosens monetary policy globally.

Let's mark the date of the next FOMC event on September 19, then we will know whether the Fed will throw that float to the market or not.

Hope for the best, but remember to save money to prepare for worse cases! During this period, many altcoins will likely correct deeply and cause most investors to cut losses before growing stronger.

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Altcoin Season will be extremely different in 2024-2025.

BTC (and a few altcoins) may return to their old highs soon, but this will not happen for most altcoins, at least in the short term. Many people were probably disappointed as the market has corrected sharply in the past 4 months. In our opinion, there are 3 reasons why this altcoin season will change:

1/ Large investment organizations are only interested in Bitcoin and Ethereum. Through Spot ETF, Bitcoin and Ethereum have attracted huge cash flows from TradFi, traditional organizations and investment funds with a total asset value of hundreds of billions of USD, which will demonstrate their influence and gradually dominate. crypto market.

2/ VCs are being suspected? The market still pays attention to VC investments, but the fact that VCs value altcoins is too high causes token prices to quickly decline after the listing stage. Therefore, VCs should not continue to be considered the main yardstick for evaluating a Crypto project.

3/ There are too many altcoins released. The market does not have enough cash flow and liquidity to push up the price of every altcoin at the same time. Too many tokens are issued, causing the little liquidity in the crypto market to be diluted into too many altcoins, so it is difficult for altcoin prices to grow sustainably.

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Investors witnessed an interesting development in the Crypto market when ETH suddenly increased while BTC dropped sharply.

Although ETH ETFs are recording a streak of negative flows, analyst Mads Eberhardt (Steno Research) predicts this trend could soon reverse. He said the outflow from Grayscale's ETHE fund will ease this week, contributing to the recovery of ETH price.

Agreeing with Mads Eberhadt, analyst Evanss6 further cited the performance between the launches of the Spot BTC ETF & Spot ETH ETF. Specifically, he pointed out that outflows from the Spot BTC ETF bottomed out on the 7th day of trading - which occurred when outflows from the Grayscale Bitcoin Trust (GBTC) reached nearly 13.2% of initial AUM.

He noted that the selling pace of the ETHE fund was even much faster than that of the GBTC fund, with AUM dropping nearly 18% in just five trading sessions. Therefore, Evanss6 believes that capital inflows into Spot ETH ETF funds may soon turn positive as selling pressure from the ETHE fund declines.

Overall, the expectation of capital inflows into spot ETH ETFs reversing has partly helped ETH recover in recent days. Meanwhile, the peak inflow of capital into BTC ETF is the reason why BTC price gradually decreased.

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Donald Trump unconditionally supports Crypto! If Trump is elected president of the United States, Bitcoin and the Crypto market will go to Bull-run!

Without a doubt, today's statements by presidential candidate Donald Trump showed how strong his belief in Crypto is. Trump promised a series of policies to support crypto as well as considered Bitcoin an extremely important asset class for the United States.

The following is a summary of Trump's remarks at the Bitcoin 2024 Nashville event:

- The reason why he attended the Bitcoin 2024 conference is because America leads in Crypto in the future
- Trump wants to fire SEC chairman Gary Gensler and appoint a new SEC chairman immediately after winning the 2024 US presidential election

- Create a strategic Bitcoin reserve for America if he is elected president
- Bitcoin will continue to increase strongly and promises to surpass Gold to become the world's largest capitalized asset

- End of Chokepoint 2.0 - a campaign to limit the activities of Crypto companies by making it difficult to access banking services
- Will never issue a central bank digital currency (CBDC) during his term

👉 At the end of the speech, Trump pledged that on inauguration day, the Democrats' anti-Crypto campaign will end!

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What is the reason why $ETH decreased by 7% today?

1. Sell the News. After Spot Ethereum ETF officially traded with a volume of more than 1 billion USD, it was thought that ETH would escape the Sell-the-news situation. But no, today the price of ETH began to adjust

2. Solana's rise. Solana can be considered Ethereum's biggest competitor in terms of technology and finance. After Spot Ethereum ETF, investors expect Solana ETF to be the next name. Therefore, the cash flow shows signs of shifting from ETH to SOL.

Besides, the increase in the number of active addresses on Solanba and the return of the memecoin trend also contributed to the sharp increase in SOL price.

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💰 100+ MILLION USD Trading Volume on the first day Spot Ethereum ETF was officially listed!

Attention across the Crypto market is focusing on $ETH after Spot Ethereum ETFs were officially licensed for trading by the US Securities & Exchange Commission (SEC). Specifically, 9 Spot ETH ETF funds have been listed on leading exchanges in the United States including NYSE, NASDAQ & CBOE.

In just the first 15 minutes of trading, the total trading volume of Spot ETH ETF funds reached 112.9 million USD (according to estimates from Bloomberg).
This volume is only half the corresponding number of Spot BTC ETF funds in January, this is still a very impressive number compared to other Spot ETF funds.

This once again shows great interest from traditional investors in crypto assets such as Ethereum or Bitcoin. The market hopes that many other coins will soon be listed on stock exchanges through ETF funds.

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You have to be extremely cautious with the crypto market this week, even though the weekly candle and price of Bitcoin are very nice!

On July 16, Kra_ken announced that eligible users will receive Bitcoin refunds from Mt Gox within the next 7 - 14 days.

This means that July 23 to 30 could be the time when large amounts of Bitcoin are paid to creditors, "defrosting" Bitcoin after many years and moving to the state of being brought to exchanges for trading.

With a news-sensitive market like crypto, this huge amount of money can completely cause sudden impacts. So, no matter how Bullish you are, stay cautious by limiting overly leveraged positions and reserve more stablecoins.

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Notable Token Unlocks in the coming week:

- SpaceID: unlock 18.49m ID (July 22)
- Worldcoin: unlock 5.32m WLD (July 24)
- AltLayer: unlock 684.2m ALT (July 25)
- Yield Guild Games: unlock 14.08m YGG (July 27)
- SingularityNET: unlock 8.45m AGIX (July 28)
- Ethena: unlock 14.89m ENA (July 28)

There are also some other small unlocks from projects such as Arbitrum, Coin98, Sui Network, Ronin,...

Please pay attention to the vesting schedule of these projects if you decide to invest next week!

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This gaming segment has attracted the huge Total Value Locked (TVL) to TON Blockchain!

TON (The Open Network) continues to maintain impressive appeal as TVL continues to surpass the $750M mark.

Through the chart below, it can be seen that TON network TVL has grown very strongly since the beginning of 2024. On January 1, 2024, TON network TVL was only 13.5 million USD. In just the past 7 months, TVL TON has increased 57 times - a dream number for any blockchain.

Despite only recently building an ecosystem of decentralized applications (DApps), the TON network has surpassed Optimism to become the 10th largest blockchain by TVL - according to data from DefiLlama.

Some reasons why TON network TVL increased sharply include:
- Airdrop & Incentives events: Investor excitement for airdrops (especially from Tap to Earn games) has boosted TON's TVL.
- Plans to integrate Bitcoin bridge and be compatible with EVM
- Support from investment funds

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Bitcoin appears CME GAP below $60K, what should investors pay attention to?

MA 200D is a long-term trend line that has been tested throughout many cycles. Every time Bitcoin runs above this line, it is considered a bullish signal.

In addition, there is also some other interesting information such as the average price of Bitcoin in ETFs is near $59,207. This shows that a relatively large buying force is subsidizing Bitcoin's price.

As for TradeCoinVN, we offer some perspectives below:
- BTC has recovered impressively beyond the 60k mark. If the backtest retests the beautiful trendline, it can continue to increase to the 68k area.
- BTC DOM is tending to recover in the short term
- Bitcoin CME GAP at the price range of $57,800
If you have accumulated Bitcoin/Altcoin during the recent correction, be confident in making profits in the long term. However, always leave some USDT room in case Bitcoin corrects or "fills the gap" at $57.8k.

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