Two uneventful days passed over the weekend. In fact, the price did not change much and was still fluctuating above 57,000. This week, non-farm payrolls and unemployment rate data will be released in the macro aspect. This data is actually quite important. Whether it is a recession-type rate cut or a defensive rate cut depends on the data at the beginning of this month, which will also affect the extent of the rate cut. It should be cut, and it is mainly a matter of extent and cycle.
On August 30, the Bitcoin ETF had a net outflow of 175 million US dollars, and the Ethereum ETF had zero transactions. It is not known whether the data has not been updated.
In the past 10 years, Bitcoin's performance in September has only been on the rise in 3 years, namely: 2015 (+2.35%), 2016 (+6.04%), 2023 (+3.91%). Although September is historically bleak, we can expect improvements in October. It can also be said that September is likely to be the month when fake crashes will occur. If you want to buy at the bottom, then September is the time to buy.
Sun said yesterday that the destruction of SUN tokens will be announced soon and will become more regular. The team is currently focused on solving API issues related to revenue data. This week will focus on reducing the handling fees of the Tron network. Substantially reducing handling fees is the first step to attract more users to Tron, Meme, and NFT. Sun's MEME is beautiful. The high network fees of Tron a few days ago have made it not the cheapest and fastest to withdraw U. Recently, he has been very active and has been constantly updating after setting up SUNPUMP. But I want to say, why don't these things be done earlier? As an emerging WEB3 blockchain technology company, the technology should be constantly explored and updated. Why do we have to wait until a product has a bottleneck before starting to think of ways to solve the problem.
There is really no other hot information. The cryptocurrency circle has been dead lately.
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Market Interpretation
From an emotional point of view, this dead atmosphere is very much like the darkness before dawn, so I am 70% sure that the "fake fall" I have been talking about will happen this month, and it won't hurt much, but it will be very uncomfortable and desperate. When most people shout slogans like bear market and rebound means short, we should firmly do the 2 in the 80/20 rule. The bottom may appear in the range of 53,000-54,000, which is my current prediction.
I don't want to mention Erbing anymore
SOL has broken 130, which is almost reaching the ultimate cost-effectiveness. Within 120 is the stage of ultimate cost-effectiveness. It depends on whether you dare to make a move.
In terms of cottage:
SUI mentioned last week that it hit a new low this week and it is possible to reach the 0.65 position that I mentioned last week.
The other sectors are basically dead, I don't want to talk about it, few have risen, and Brother Sun's stocks are also falling. If you have a position, wait for the bottom to be bought, if you don't have one, just lie flat, but I advise you not to sell at a loss, this is what the dog dealer wants to see most.
