August closed with a big negative line. It can be said that the market has been very sluggish in the past two months, and a sentiment of fear has shrouded the crypto market. However, if you look at the on-chain data, you will find that retail investors are panic selling and institutions are greedily accumulating chips.
First, Bitcoin. In July, Bitcoin whales accumulated $5 billion worth of Bitcoin, the largest monthly accumulation since 2014. Although August was not as high as July, it was also a large amount of Bitcoin accumulation, which shows that institutional investors have a strong interest in Bitcoin and are optimistic about it in the long term.
The second is the king of altcoins, Ethereum. The Ethereum Foundation sold a large amount of ETH, which surprised the community, and
Looking at the CME futures market, there is a clear shift in Ethereum volume towards Bitcoin. The Ethereum ETF has also continued to fall short of expectations with net outflows exceeding $500 million since its debut. This is in stark contrast to the Bitcoin ETF, which has seen net inflows.
So you can see that the market is more optimistic about Bitcoin and its ecological development, and it may take a long time for the altcoins led by Ethereum to give the market confidence. In this regard, my personal suggestion is to pay more attention to the Bitcoin ecosystem. Many related spot currencies have already experienced a deep correction, which is a good node for medium- and long-term positions:
The leader in the Bitcoin ecological inscription sector has achieved a 10,000-fold myth. The first batch of minters achieved nearly 30,000 times the return at the high point. The wealth effect is also very popular. The mainstream exchanges have already launched it. At present, the callback from the high point is close to 80%, and the callback ratio is very large. The market value has also shrunk to 612 million yuan. Recommended points: 29--25.6--21.
$sats
Inscription sats also achieved high returns. It took nearly half a year to mint all of them. The massive coin holding addresses and the support of Unisat wallets made sats soar all the way. The current market value has exceeded ORDI. Sats was previously hyped as MEME coins. Now it has new applications and will be used as gas in pizzaswap in Unisat's new project Fractal Network. As a new hotspot in the Bitcoin ecosystem, it has good potential and prospects. 0.000265 is a strong support and a good spot position, followed by around 0.0002.
Stacks is a Bitcoin L2 platform, and STX is its native token, which has the functions of staking, governance, ticket smart contracts and value transfer. While anchored on the Bitcoin blockchain, Stacks is also an independent protocol, mainly to help the Bitcoin blockchain expand, opening up new possibilities for applications such as DeFi and NFT. Currently, it has fallen 63% from the high point. Spot can currently open a first position, and the decline is concerned about 1.23--1.065.
ATOM is a token based on the ARC-20 standard of the Bitcoin blockchain and belongs to the Atomicals protocol. The Atomicals protocol is a mechanism for creating, transferring, and updating NFTs on the UTXO (unspent transaction output) blockchain. ATOM is an old coin. Its ecosystem has developed very well before, with a large number of users and ecological applications. The rise of Bitcoin narrative in this bull market will drive the rise of ATOM. It is currently at a new low price, mainly because the opacity of the foundation has caused FUD sentiment. You can consider buying a spot position.
The market is volatile at present. The US interest rate cut in September is basically confirmed. Referring to past data, US stocks generally fell sharply after the interest rate cut. The crypto circle is currently highly correlated with the stock market. As a risky asset, it is likely to follow the market and fluctuate greatly. It is recommended that you trade spot and cooperate cautiously. There may be great blessings in October. #小非农增幅创3年多新低 #BTC走势分析 #美联储何时降息？
