Shiba Inu (SHIB)
Often referred to as the "Dogecoin killer," Shiba Inu (SHIB) has become a significant player in the meme coin space since its launch in 2020. Its rapid rise, largely due to the support of influential figures and a strong community, has resulted in significant profits for early investors. The token's low entry price and high volatility provide unique opportunities for quick profits, especially when leveraging during market fluctuations. Shiba Inu's integration into various platforms and acceptance by some niche retailers further enhances its appeal as a fast-return speculative asset.

As the price fell, the "big whales" in the cryptocurrency world took the opportunity to quietly hoard 5,900 bitcoins from centralized exchanges (CEX), with a total value of up to $397 million. This wave of operations directly pushed up BTC's trading volume by 65%, and the market activity was very high.

Speaking of which, the actions taken by the US government on July 29 were quite shocking. It directly transferred $2 billion worth of Bitcoin to a new wallet. The entire crypto circle was in an uproar, and the market reaction was intense.

Look at the price of BTC, which was almost at $66,520 at the time, but it dropped 4.6% in one day. But interestingly, this drop actually stimulated everyone's buying enthusiasm, and the trading volume soared by 65%, as if everyone was waiting to "buy at the bottom."

Republican Senator Cynthia Lummis of the United States has proposed a draft bill to include Bitcoin in the national strategic reserve, requiring the Treasury Department to purchase 1 million Bitcoins within five years and hold them for at least 20 years. To finance this huge purchase, the draft bill proposes measures such as re-evaluating the Federal Reserve's gold certificates to market value and reducing the Federal Reserve's free surplus to offset the cost of establishing a strategic reserve of Bitcoin.
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Cynthia Lummis, a Republican senator from Wyoming, has long supported the development of cryptocurrencies. She announced at the Bitcoin 2024 conference on the 28th that she would propose to include Bitcoin in the national strategic reserve assets and have the U.S. Treasury purchase 1 million Bitcoins within five years.

It’s FOMC day again today for cryptocurrencies and the broader financial markets. Analysts agree that today’s meeting will be one of the most important in recent years. Financial advisor and Ivory Hill founder Kurt S. Altrichter even described today’s FOMC meeting as “the most important meeting of your lifetime.” In a new post on X, Altrichter explains why.
FOMC Preview
At the heart of today’s FOMC meeting is the possibility that the Fed will hint at a September rate cut. Altrichter said financial markets are almost unanimous in anticipating such a move, with federal funds futures showing such an outcome is all but certain. “Market expectations are strongly signaling a September rate cut,” Altrichter said, noting that today’s update is a critical moment for financial markets.

Since the US spot Ethereum ETF was listed on July 23, a large amount of funds have flowed out, causing the price of Ethereum to fall by 9%. In addition to the outflow of funds, what other reasons have hindered its price performance?
Despite the launch of Ethereum ETF, ETH price still failed to break through the resistance level of $3,400. The main reason is that the spot Ethereum spot ETF has seen sufficient capital inflow. According to Sosovalue data, the overall performance of ETFs is poor, and the cumulative net breakout is as high as $439.64 million. As shown in the figure below, the fierce selling pressure mainly comes from the severity. On July 29, major spot ETH ETFs including BlackRock, Bitwise and Fidelity showed daily positive inflows.

At about 7:30 this morning, the Mt.Gox (Mentougou Exchange) cold wallet transferred about 33,964 BTC to an unknown address, with a value of nearly 2.25 billion US dollars. Will this cause selling pressure on Bitcoin?
According to Arkham real-time data, the Mt.Gox address transferred about 33,964 BTC to an unknown address (bc1q2..) at around 7:30 this morning, with a value of nearly 2.25 billion US dollars. It is likely to be a compensation, but it is not clear to which exchange the money was transferred?
Since the beginning of July, when compensation began, Mt. Gox has transferred out about 95,500 BTC. Currently, there are about 46,000 BTC left in the wallet, with 30% remaining. The impact on the price of Bitcoin is gradually weakening.

Daily Share

After the bitcoin price rushed to 70,000 last night, it quickly pulled back. The pullback here is quite large, with the lowest price reaching 65862, which has broken the upper edge of the previous 1h central axis. Therefore, the rise of the third buy here should be gone, so the short-term trend is inclined to a 4h level pullback. The expected pullback will not be too large, and the shallowest one is estimated to be around 64,000, and the deepest one is 63,000.
 
If the pullback goes smoothly, then just go all in boldly. The next 4-hour level rebound is expected to be a wave of main upswing to set a new historical high. You must not miss such a market.

The Ethereum ETF launched on July 22 and attracted more than $4 billion in its first week. After the price drop, Trump’s optimistic speech at the Nashville Bitcoin Conference pushed Ethereum above $3,345.
With volumes continuing to rise, $3,500 now seems within reach.
Ethereum ETF raised $4 billion in first week
Ethereum (ETH) has reached a major milestone, with the Ethereum (ETH) exchange-traded fund (ETF) launching on July 22 and seeing a staggering $4 billion in trading volume in its first week. Crypto enthusiasts have taken notice — and the recent surge is all the proof we need.

The market is full of negative news, such as the 21% plunge in Bitcoin ETF when it was approved, while Ethereum has not yet arrived. It is said that Ethereum's Cancun upgrade did not increase activity, but was suppressed by Solana, and the prospects are worrying. Some people also believe that Ethereum investors have no staking income.
However, I still think now is a good time to enter the market.
Every decline is an opportunity to enter the market, and history will not simply repeat itself. Especially Trump's support for cryptocurrencies, if he is elected, this bull market will be unprecedented.

The kidnapping and murder of a Bitcoin holder in Ukraine shocked the local community. According to police, four men aged between 24 and 29 carefully planned the crime in order to steal the three Bitcoins held by the victim.
The brutal kidnapping and murder of a foreign Bitcoin holder in Ukraine has shocked the local community. According to a police statement yesterday (29), four men aged between 24 and 29 carefully planned the kidnapping of the victim in order to steal three Bitcoins worth approximately $207,000.

Accurate market forecast

Yesterday, I mentioned in the article that the current rising market is a continuation of Trump’s positive sentiment at the Bitcoin Conference over the weekend. After Bitcoin hits the 70,000 mark, it will trigger a round of selling pressure. The market is in line with expectations and has begun to pull back!

Change of hands is needed at high levels to help a new push higher. Secondly, the RSI index is already around 70, and it will touch overbought sentiment around 70,000. A short-term correction in sentiment is a good thing.

BTC's on-chain activity on Monday increased significantly compared to the weekend. It seems that the power of Trump's speech has not decreased after a weekend, but has increased significantly. This also caused the price of BTC to temporarily increase to US$70,000 before the opening of the U.S. stock market. However, it gradually fell back after the opening of the U.S. stock market, indicating that the market is gradually digesting the content of Trump's speech.

The market is full of negatives. For example, by comparing the Bitcoin ETF, which plunged 21% when it was approved, Ethereum is still far from reaching its target. It is said that the Ethereum Cancun upgrade did not increase activity, but was suppressed by Sol, and the future prospects are worrying. There are also people who say that Ethereum investors have no staking income, etc.

But I still think now is a good time to enter the market.

Now every decline is an opportunity to enter the market. History will not simply repeat itself, especially Trump’s support for cryptocurrencies. As long as Trump is elected, this bull market will be unprecedented.

On Tuesday (July 30), the US dollar index maintained a bullish trend at 104.57, and gold fell to $2,381. The FOMC is expected to keep interest rates unchanged this week, and hawkish pricing temporarily shrouds the market. Israel vowed to retaliate against the deadly attack in Lebanon, and diplomats are actively preventing a full-scale war. The United Nations said that 86% of the Gaza area was affected by the Israeli army's evacuation order. The US government wallet moved abnormally, transferring 28,000 bitcoins, causing the price of the currency to plummet after reaching $70,000, falling below $67,000.

Israel, Lebanon "all-out war" threat escalates, 86% of Gaza affected by evacuation
Israeli Prime Minister Benjamin Netanyahu vowed on Monday to respond "harshly" to a deadly attack in the Golan Heights that killed young men, as diplomats raced to contain escalating tensions between Israel and Hezbollah, France24 reported.

After Bitcoin breaks through 70,000, will the market start to accelerate?

Since March, this is the fifth time that Bitcoin has hit the trend line and the fifth time that Bitcoin has hit the 70,000 level. Here is a brief explanation of why we believe that Bitcoin will reach the 70,000 level this week.

Trump's speech is a good test. The market makers use it to test the overall market. The market makers use Trump's speech to touch the trend line twice to test the selling pressure, testing up and down, and the amplitude is not large.

The first abnormal point is that during Trump's speech, the price of Bitcoin did not increase by more than 70,000 yuan, and the hourly line amplitude was too low. If the dealer wanted to cheat, he would definitely use Trump's speech to tell a story, pull the price above 70,000 yuan, cheat the contract to open an order, and then cut it down.

Trump announced at the Bitcoin Conference on Sunday that the U.S. government will not sell any Bitcoin currently held or acquired in the future. This article will discuss what the next step might be for these more than 200,000 BTC from the perspective of judicial progress.
At 4 a.m. Taiwan time on Sunday, U.S. presidential candidate Trump officially took the stage at the Bitcoin 2024 conference and expressed his political views on the cryptocurrency industry in front of many Bitcoin supporters. One of the highlights was that Trump said: If elected president, he would never sell the Bitcoin owned by the U.S. government.
The federal government owns nearly 210,000 bitcoins, or 1% of the total supply. But our government has long violated a cardinal rule that every bitcoin enthusiast knows: HODL.. Never sell your bitcoin.

Will this wave be like the last bull market, with a huge number of copycats?
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The current situation seems to be that the market is already very saturated, with thousands of altcoins competing to be listed to attract liquidity, and some projects have a new one launched almost every three days. Compared with the last bull market, this time is much more difficult. If you still hold the mentality of the last bull market, you may find it difficult to cope with the current situation.

7.29 There is not much time left for BTC starting with 6

We used the news day to clean up the market over the weekend, with both long and short positions exploding. After the explosion, we broke through the previous high again. There was no looking back after this breakthrough. After 4 months of volatility, the pressure level of 70,000-73,000 is no longer important. It is expected that a big positive line will break through and set a new historical high in a few weeks.

SOL is still the first choice for altcoins. It is worth mentioning that ETH has also started to strengthen after the listing and selling of ETFs. 4. This is a comprehensive bull market for all currencies. There is gold everywhere. It depends on whether you dare to pick it up.

Top 10 Token Performance

The other top ten tokens also basically showed an upward trend. The largest increase was XRP, which rose 1.6% in the past 24 hours; the largest decrease was ADA, which fell 1% in the past 24 hours.

On Saturday (July 27), Trump's speech at the 2024 Bitcoin Conference was full of twists and turns, and the price of Bitcoin also went on a roller coaster, once falling below $67,000, but after the presidential candidate listed a series of cryptocurrency-friendly promises, Bitcoin rose sharply.

Trump took to the main stage at the Bitcoin 2024 conference in Nashville to address the bitcoin community directly, the latest in his months-long appeal to cryptocurrency supporters and a radical shift for the Republican presidential candidate.
"This afternoon, I will lay out a plan to ensure that the United States becomes the global cryptocurrency capital and the world's Bitcoin superpower, and we will achieve this goal," Trump said in his speech. "(If I am elected) the government will retain 100% of the Bitcoin it owns. The government's policy will be to use Bitcoin as a national strategic reserve. Never sell your Bitcoin, Bitcoin and cryptocurrency will soar like never before."

Notcoin price trend is showing a continuous lower high formation as the daily chart is trending down. The corrective frenzy in NOT price has resulted in a resistance trendline forming which is restraining the bullish growth.

However, the sudden overnight surge in the cryptocurrency market signals a possible rebound for Notcoin. Will the bullish reversal in NOT price lead to a breakout rally towards the $0.031 mark?

Notcoin Price Performance

NOT has a market cap of $1.442 billion and is trading at $0.01605, up 4.56% intraday. The bullish reversal signals a bottom is in place, challenging the overhead resistance trendline.

Trump may announce that if elected president, Bitcoin will be designated as a national strategic reserve asset of the United States. The current rise is digesting this expectation. So tonight is very critical. If Trump declares Bitcoin as a national strategic asset, then the market may really usher in a reversal, heading straight to 70,000, or even a new high. If Trump only verbally supports BTC and does not release any substantial positive news, then it will still fall after the conference, after all, the negative news of Grayscale and Mentougou has not been fully digested.
WIF

Dogwifhat (WIF) appears to have recovered from a drop below the $2 support level. The coin is currently testing resistance around $2.5, with many traders anticipating a Q3 bull run for the Solana memecoin.