In the past July, Bitcoin whales increased their holdings by 84,000 bitcoins, equivalent to approximately US$5.4 billion, which is also the largest single-month increase since October 2014.
Bitcoin rose from the lowest price of $53,485 in July to the highest price of $70,080. At the same time, in July, Bitcoin also hit the largest monthly fluctuation in the past five months after reaching a record high. The lowest price also hit the lowest point in the past five months. This shows that the long-short turnover peaked in July. At the same time, the large increase in holdings by whales also shows that they are still very optimistic about the future market trend.
According to CME Fed Watch, the probability of a rate cut in September is 100%, and a large amount of traditional funds will flow into the market at that time. It seems that the so-called gold September and silver October are not groundless. By then, it is not just as simple as the Fed cutting interest rates. The domestic market will also release money to varying degrees according to the Fed's interest rate cut. By then, most markets will usher in different degrees of recovery.
Because at present, domestic markets such as real estate, automobiles, etc. have been in a downturn in recent years. If the domestic market releases money in advance, the funds will not flow to private enterprises, but will be sucked away by the high interest rates of the United States. This is very detrimental to the development of the domestic economy. The United States has been using the US dollar and high interest rates to suppress the world's monetary system, causing the economies of many countries to slow down or even regress. The purpose is to wait until prices reach the low point in recent years and enter the market to buy at the bottom.
If the $53,485 in July is the lowest point of the retracement before the peak of this round of bull market, then compared with the previous round of bull market, the retracement of this round of bull market is relatively low. This is a mixed blessing for this round of market. The good news is that there is no large-scale retracement, which will make large investors and institutions more confident about the future market. The lower volatility and high returns also make people who are waiting on the sidelines dare to enter the market boldly when the price is high, making the market sufficient and the price of the currency easier to push to a higher point. The worry is that because the retracement of this round is not particularly strong, the large investors and institutions who participated in it early did not leave the market because of the price retracement. They are likely to clear their positions and leave the market directly when the price reaches their ideal point or when there are unstable factors in the market during the subsequent market rise. This causes the price of the currency to fluctuate greatly at a high level. This is not conducive to the large investors and investors who entered the market at a high level to continue to hold firmly. If the market falls and there is a series of stampedes, the price of Bitcoin will collapse rapidly at a high level, causing most investors to greatly reduce their profits or even suffer losses. However, these are scenes that will only appear at the end of the bull market. Everyone knows that ducks know first when the river water warms in spring. As long as you observe carefully, there will be signs before a collapse, so there is no need to worry.
What else can you buy now besides Bitcoin, except for the high-risk ones. I have always been optimistic about SOL, and it would not be a problem for the current price to double.
Let's take a look at $SOL . On July 29, the highest price reached around $194 and then began to fall, with the lowest price reaching $157.9. It has already broken through the previous rebound high of $189. The next target is the second highest point of the year at $204.5. If the market breaks through $204.5, the price will continue to move towards a new high. So for now, around $164 is also a very good buying price. If the price continues to fall, placing an order to buy every 5% of the price in the box oscillation range of 121-155 is also a good choice. If the market falls below $116, stop loss immediately. This is the lowest point of $SOL 's price after reaching a new high.
The past few months have been so exhausting that the market has made my scalp numb. The hard times are almost over. Hold on to your chips and wait for the market to charge to a higher point again!