This morning, Musk and Trump had a two-hour space conversation on Twitter, with a total of 60 million online listeners. The conversation did not discuss any topics related to the crypto market, but the crypto market added more than 100,000 meme coins related to the conversation in these two hours, and the only three that went viral ended up breaking the issue price. I really don’t understand where the craze for meme coins comes from, or maybe the essence of blockchain is meme, and having no value is the greatest value.
There is really nothing to watch in the market. The overall situation is in a very depressed state of fluctuation. Almost all the main players have temporarily stopped and are in a wait-and-see state. The main reason for this situation is the sudden change in the current global geopolitical situation. Iran is likely to take action against Israel this week. Ukraine has invaded 1,000 square kilometers of Russian land. A bilateral war is imminent.
It is hard to say whether the former will fight or not. With the intervention of the United States and the mediation of the Eastern powers, it is possible that the two countries will eventually sit down at the negotiation table again. However, given Putin's character, it is too unrealistic not to drive the armored vehicles over. Everything is expected to come soon. After the missiles are launched and all the disputes are settled, venture capital will have a future without surprises.
Macroeconomically, the PPI data released at 8:30 tonight, both the monthly rate and the annual rate are lower than the previous value and expectations, which is good for the risk market. After the data came out, the market rebounded briefly, and the US stock market opened higher. Traders' bets on a 50 basis point rate cut in September returned to above 50%. Of course, the PPI data can only have a short-term impact on market fluctuations. Focus on the CPI data tomorrow night, which will directly set the tone for September.
In terms of spot ETFs, Bitcoin had a net inflow of 27 million US dollars yesterday, and Ethereum had a net inflow of 4.9 million US dollars. The fluctuations in the data are negligible in the face of the total volume. It can be considered that the funds are currently in a wait-and-see state. In my opinion, the reasons for this situation are nothing more than the war risk mentioned above and the wait for the data tomorrow night.
The direction of the market fundamentals will definitely be decided this week, whether it is a drop or a pull, a signal will be given. There is a weakness in human nature, the more you care about something, the more it will torture you, and the same is true for trading. The more we care about short-term ups and downs, the more unscrupulously the short-term market will destroy our patience.
BTC: Bitcoin continues to move downward around 59,000 points and moves to 57,300 points. After a short break of 59,000 points, the market briefly retreated due to the favorable data. The current long and short tugs are evenly matched, but the momentum of the upward breakthrough is further weakened. The trend of the favorable market is still inclined to continue to bottom out. The bottom is expected to be determined this week. Wait for the phased consumption of the short momentum. The upper pressure is 63,000 points.
ETH: Ethereum is gradually becoming stronger. The short-term strong pressure point of the technical side is 2848 points, the trend reversal is at 3300 points, and the bottom support is 2510 points. For the time being, the market has been fluctuating around this position. If the data is positive this week and the ETF fund inflow and outflow volume is officially reversed, it is expected to maintain a strong market for a long period of time. Continue to pay attention.
SOL: Solana and other big cakes will have a callback after filling the gap. Let's see if it can provide opportunities. The ideal price is below 130 points.
TON: You can participate appropriately if the callback is 5.8 points. The positive news during the day can be regarded as medium- to long-term positive news. The value has always been there. You can also pay attention to the not callback under the concept.
The panic greed index is 25, a state of fear. The market value of sats in the inscription sector has surpassed ordi, and it is going to grab the position of dragon one. After the previous surpassing, ordi went directly out of the stage high after a short consolidation. The reason why sats is strong at present is that the retracement after the highest point is smaller than that of most cottages. Unisat uses sats as gas consumption, which leads to long-term deflation. The currency logic has changed from the inscription concept meme to an inscription token with application. In the future, I personally think that the development paths of sats and ordi will be inconsistent, but it is foreseeable that sats will remain strong for a long period of time with the development of the unisat ecosystem.
Finally, stay away from leverage and stock up on spot goods! #新币挖矿TON #美国7月PPI低于预期 #美国CPI数据即将公布 $BTC
