Weekend market data: #BTC☀ fell again, the altcoins were tested, turnover increased, market long and short gamers diverged, and US funds flowed out 100 million during the week!
It's time to look at the weekend data again. The weekend market data basically has no big highlights.
The decline of BTC has led to the decline of altcoins, but the sentiment of altcoins is not blindly pessimistic. The increase in trading volume shows that there are still traders in the market who are buying and changing hands.
ETH is unexpectedly strong, did not follow the decline, and the trading volume has not declined significantly.
The focus is still on funds:
The market value of stablecoins increased by 100 million during the day, and the current stock is 171.2 billion.
USDT: The official website data is 118.225 billion, which is consistent with yesterday. The Asian and European funds remained at 0 inflows over the weekend. However, the market value of the data website decreased by 94 million, indicating that this part of the funds participated in the transaction.
USDC: Official website data update, as of the week of August 29 (Thursday), USDC had a net outflow of 100 million, but looking at today's data website, the market value increased by 76 million, and some funds may have flowed back over the weekend.
However, the inflow of funds in the US area has obviously weakened, and even negative inflows have occurred. This is a completely different sentiment from the concentrated and intensive inflows in the previous few weeks.
Summary:
On the first day of the three days of low liquidity this week, although the cottage fell, there was still active buying power. I hope that it can be properly active on Sunday. The cottage market needs a chance to breathe.
The activity of the cottage shows that the market is not completely pessimistic. Of course, it is also possible that many people think that the cottage has fallen to the basic bottom, so they dare to buy.
Although facing interest rate cuts, the mood of the US stock market on Friday was good, but this mood was not effectively transmitted to the crypto market, and the capital inflow was relatively conservative, and the mood was not good.
Of course, the reduction in capital inflows may also be directly related to the opening of the ETF channel. Asian and European funds have settled a lot recently and have been waiting. As I said before, BTC below 60,000 has indeed made a small part of the funds active.
