A report released by Bitfinex shows that 69.2% of the BTC supply has been dormant for more than a year. This trend shows the accumulation strategy commonly adopted by long-term holders and their firm belief in the long-term value of Bitcoin, even during the downturn in the cryptocurrency market over the past year. Among them, 55.7% of the Bitcoin supply has been dormant for more than two years, of which 40.1% of the Bitcoin supply has been idle for more than three years, and 29.1% have not moved their positions for more than five years. The real money is actually made by long-term holders. Others just hold their coins and don't sell them no matter how the market goes up or down. Dog dealers can't do anything to them. Frequent operations are destined to make most people unable to make money!

Important news overview:

1. Bitfinex: 69.2% of BTC supply has been dormant for more than a year;

2. Tether CTO: The launch of PayPal stablecoin will not affect Tether;

3. Steadefi: The protocol has been exploited and all funds are currently at risk;

4. Coinbase will repurchase $150 million of notes due in October 2031;

5.CoinShares: Institutional investors stopped shorting Bitcoin for the first time in three months:

6. Cathie Wood: The SEC may approve multiple spot Bitcoin ETFs at the same time:

7. Patrick McHenry: Stablecoins are expected to become the backbone of the 21st century payment system;

8.CF Private Equity is preparing to launch a blockchain-specific fund, expected to raise $100 million:

9. Cathie Wood: SEC may postpone ARK Invest's spot Bitcoin ETF decision again;

10. Paxos Strategy Director: PayPal's regulated stablecoin is a "watershed moment" for the crypto industry:

11. Chairman of the House Financial Services Committee: After PayPal launched the stablecoin, it is necessary to pass stablecoin legislation.

BTC：

Ygg can be said to be the most popular guy in the market recently. It has risen 5 times in 4 days. Although it has risen so much, I believe that most people still did not make money, and even lost money. The first reason is that it rose too fast and many people did not get on the bus. The second reason is that most people have completed their contracts. Yesterday, the fluctuations were one or two times. Most people must have been liquidated or stopped losses. It was obviously manipulated by dog ​​dealers. The project party and the exchange benefited. The exchange allowed these dog dealers to do whatever they wanted and did not intervene in the management. It also shows from the side that our industry is still in its early stages and lacks formal supervision. Seize the time when there is no supervision and seize a bull market, and you can also achieve class leap.

Back to today's market, Bitcoin once again touched the 120-day moving average to stop falling and rebound. The recent market is like this, fluctuating below the 30-day moving average and above the 120-day moving average. It is still a volatile market locally at the moment, and it is better to watch more and do less overall. The recent hot spot is on altcoins. Once the altcoins collapse collectively, it is very likely to affect the broader market, so it is right to be cautious at this time.

eth:

Ethereum is locally fluctuating downward, and the overall trend is not strong. The rebound pressure is still the 120-day moving average.

XRP：

xrp has been falling for more than 20 days. There may be an occasional rebound in the middle, but the rebound is not the standard for your participation. The rebound is just a rebound, not a reversal. In the medium term, xrp will still fall.

ARB：

Recently, the trend of OP is still relatively strong, but the trend of ARB is relatively weak. This also shows that there is no hype about the Cancun upgrade yet. If the Cancun upgrade is hyped, the entire second-layer token will be activated, and ARB will be weakly linked to the trend of the market.

ON:

On August 9, Coinbase's Base chain launched its mainnet, using OP Stack technology. The market should have risen due to the news. The overall trend is very good, oscillating upward. You can hold on before the trend is broken. Once the trend is broken, remember to leave!

Platform Coin:

BGB is oscillating at a high level. There is no opportunity for short-term operation. Please wait patiently.

Wealth code:

As long as Bitcoin continues to fluctuate at a high level, altcoins will explode. You can choose some altcoins with good low-level trends or strong positions.

The above analysis is for reference only and does not constitute investment advice. Follow Hua Ge’s official account and don’t get lost!