Markets are picking up because the jobs numbers were slightly worse than expected.

The chance of a 50bp cut in September has shot up to 49% from 40% a day ago.

Almost a coin flip.
$BTC $ETH

Rektember Coming?

If you're wondering why crypto market sentiment is particularly low today—especially given that it was already down—it might be because September has historically been the worst month for crypto prices. Over the past 11 years, $BTC has only seen gains three times in September, with an average monthly return of -4.53%. This trend mirrors the stock market, where September is also known for poor performance, though the reasons are unclear.

One theory suggests that portfolio managers return from holiday and engage in rebalancing, leading to significant selling that depresses prices. Another theory points to the fact that many mutual funds end their financial year in September, prompting them to sell underperforming stocks to improve their year-end reports.

Bitcoin Price Analysis:

As of today, September 2, 2024, $BTC is trading around $58,300, reflecting a notable decrease from last week's high of $63,768. This decline highlights a bearish sentiment in the market, with BTC facing resistance at levels such as $59,098 and $61,708. These resistance levels are crucial; breaking above them could restore bullish momentum, while failure to do so might push BTC down towards its support levels of $57,265 and $55,433.

The market is currently influenced by various technical indicators. The Relative Strength Index (RSI) suggests a bullish divergence, meaning there might be a potential reversal if Bitcoin manages to hold above $57,750. If it falls below this level, however, it might face further declines to around $56,000 or lower.

Investors are also closely watching upcoming macroeconomic data, such as the ISM Manufacturing PMI and Nonfarm Payrolls, which could impact Bitcoin's price by influencing broader market sentiment. This analysis indicates a cautious outlook, with the potential for both further downside or a recovery depending on market conditions and economic reports.

Here are today's top cryptocurrency news stories:

1. Bitcoin's Decline:
- $BTC has dropped to around $59,324. This decline is driven by investor caution due to potential interest rate hikes by the Federal Reserve, leading to reduced inflows into cryptocurrencies

2. Ethereum and Solana Down:
- $ETH is slightly down, trading at $2,519. $SOL also experienced a 3% drop, now trading at $138, as part of the broader market's cautious trend

3. Gainers Amidst the Downturn:
- Despite the overall market decline, BEAM and MultiverseX (EGLD) have bucked the trend, each gaining around 4% over the past 24 hours

Crypto News Today:

Here are the latest updates in the crypto market:

1. Bitcoin and Major Altcoins Decline: $BTC has fallen below the $60,000 mark, trading around $59,000. This drop has led to over $300 million in liquidations. $ETH also saw a significant decline, dropping below $2,500. The overall market sentiment is bearish due to concerns about upcoming U.S. economic data

2. Meme Coins Plummet: Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced sharp declines, each dropping around 6% over the past day. Other meme coins, including Pepe (PEPE) and dogwifhat (WIF), have seen even larger drops, falling between 9% and 12%

3. Altcoins Show Mixed Performance: While the broader market is down, some smaller altcoins like Popcat (POPCAT) and Notcoin (NOT) have managed to record slight gains of around 1-2%

4. Concerns Over Potential Sell-Offs: The market is also on edge due to the U.S. government's transfer of a large amount of Bitcoin and the anticipated repayments from the Mt. Gox hack, which could trigger further sell-offs
#BTC #altcoins binance #MEMECOINS

Crypto News Today:

1. $BTC and $ETH Prices: Bitcoin has dipped below the $62,000 mark again, continuing its recent volatility. Ethereum, meanwhile, has also faced slight declines, partly influenced by the recent launch of spot ETH ETFs, which initially saw a net outflow.

2. Regulatory Crackdowns: The U.S. SEC has charged two brothers involved in a $60 million Ponzi scheme using a crypto platform, signaling continued regulatory scrutiny in the crypto space.

3. NFT and DeFi Updates: The NFT market experienced a 7.14% drop in sales volume in July, while the DeFi sector saw some growth, particularly in protocols like Symbiotic, which had a significant increase in total value locked (TVL).

Today in crypto

1. $BTC is trading near $64,000, with potential for a price dip to $62,000. If it holds, altcoins like MATIC and SUI may rise.

2. Malware Alert: A new threat called "Cthulhu" is targeting crypto wallets on macOS.

3. Shiba Inu plans to launch a DAO, giving its community more control.

4. Telegram CEO Arrest: Pavel Durov's arrest in France has impacted Toncoin, with a notable price drop and increased trading activity

Crypto News Today

1. $BTC Surge: Bitcoin has broken through the $64,000 mark, driven by optimism surrounding potential U.S. Federal Reserve rate cuts in September. Analysts are speculating that this could push Bitcoin and other cryptocurrencies even higher in the coming months

2. #Altcoin Movements: Several altcoins are also experiencing significant gains. Notably, meme coins like Popcat have seen a surge of over 25%, and others like Sui and Core are up by more than 13%. However, Binance Coin (BNB) was one of the few major coins to see a slight decline

3. Regulatory Developments: The legal landscape continues to evolve, with significant rulings and actions from regulators. For example, the SEC's case against Kraken continues, as a court recently denied Kraken’s motion to dismiss the lawsuit alleging it is operating an unregistered securities exchange

4. Industry Updates: In other news, Tether has scrapped plans to launch its own blockchain for USDT, and Synthetix is preparing to roll out new features to stay competitive in the DeFi space

Top News Today:

- Bitcoin reaches $64K
- Tether postpones blockchain launch
- RFK Jr. halts his campaign and plans to back Trump
- Justin Sun labels the 12K Bitcoin removal from USDD as "DeFi 101"
- Fed Chair Powell believes a 2% inflation target is attainable

Top 5 News As Of Today:

PIP Labs raises $80M for Story Protocol, pushing its valuation to $2.25B.

A ‘parabolic’ rally for $BTC could kick off in Q4, based on historical price trends.

Wyoming’s stablecoin might debut in Q1 2025, says Governor Mark Gordon.

Tether plans to introduce a dirham stablecoin in collaboration with UAE partners.

BlackRock’s iShares Ethereum Trust nears $1B in net inflows, according to Morningstar.

Top News For Today

Polychain spearheads a $6.7M investment in the new Bitcoin-focused yield network, Corn.

Tether mints an additional $1B $USDT on the Tron network.

$BTC whales increase their $BTC holdings by just 1% per month.

Binance faces an $86M tax demand as it returns to India.

Bitcoin mining costs skyrocket by 168% due to capacity expansion.

Crypto News:

1. $BTC & $SOL : Both are seeing strong performance. Solana's new gaming-focused SVM reached 1 million users during testing, boosting its ecosystem

2. Russia Legalizes Crypto Mining: Russia now permits legal entities to mine crypto, integrating it into their economic strategy amid sanctions

3. MoonTaurus (MNTR): This new memecoin shows potential for massive growth, raising $350,000 in its first presale and aiming to 100x in value

4. Top Coins to Watch: Solana, Polkadot, and Avalanche are among the top cryptocurrencies to keep an eye on due to their unique features and market potential

Top 5 News

1.) A Canadian crypto exchange lost $9.5M worth of users' BTC and ETH through risky bets.

2.) Marathon Digital brands its Bitcoin blocks as 'Made in USA.'

3.) The FBI refuses to confirm or deny the existence of records on Satoshi.

4.) Bitcoin buyers hold off below $58K as Japan experiences a historic stock market crash.

5.) Coinbase extends its crypto services to Hawaii.
$BTC

The Pump.fun fee account sold 222,073 $SOL for 35.54M $USDC at $160 in the past 3 months!

The total revenue of pump.fun is 615,439 $SOL ($89M)!

solscan.io/account/CebN5W…

-lookonchain

In just 8 days, #Cumberland has injected 1.04B $USDT into the crypto market!
An hour ago, #Cumberland received 141.5M $USDT from #TetherTreasury again and transferred it to #Kraken, #OKX ®, #Binance, and #Coinbase.
Address:
0x1dBbBC3Fdb2C4FaBd28fd9b84Ed99ceb84Bf
BeC5.
- lookonchain

Today's crypto highlights:

1. #OKX Wallet Update: OKX Wallet now supports the latest Sei Network upgrade, boosting performance and interoperability for users and developers

2. New Crypto Projects: "Portal," a cross-chain gaming platform, has been launched, connecting over 200 blockchain games

3. Market Outlook: In 2024, regulatory discussions in the U.S. and the rise of tokenized real-world assets are key areas to watch

#OKX #MarketOutlook

BREAKING: $1.95B MT. GOX BTC WALLET ACTIVE

A wallet linked to $2.19B in Bitcoin from Mt. Gox has started test transactions, likely involving Bitgo, the final exchange working with the Mt. Gox Trustee.

Is a creditor payout imminent?
$BTC

$SOL Whale Has Dumped $84M

A significant Solana whale has been steadily selling large quantities of SOL using a dollar-cost averaging strategy. This whale has offloaded $84 million worth of SOL this year alone, with the most recent sale involving 20,000 SOL tokens valued at $2.8 million

Bullish and Bearish News Today August 13 2024

Bullish News:
1. Ethereum's Dencun Upgrade: Ethereum is preparing for its Dencun upgrade, which could be a major bullish catalyst. The upgrade is expected to go live soon after the final testnet, which would likely boost ETH and related layer 2s

2. Focus on ETH Options Trading: ETH options trading volumes are hitting all-time highs, indicating growing interest from sophisticated investors. This trend suggests that "smart money" might be shifting towards Ethereum, which could lead to a price rally if the market turns positive

Bearish News:
1. Market Sentiment Post-Bitcoin Halving:
Recent surveys indicate that less than 50% of crypto market participants remain bullish following the latest Bitcoin halving. This lukewarm sentiment suggests potential caution among traders and investors

2. Avalanche (AVAX) Bearish Pressure: Avalanche is facing significant downward pressure, with analysts predicting a possible drop below $15 due to weak market sentiment. This bearish outlook is compounded by the struggles of Bitcoin to maintain its position above key levels

3. Regulatory Concerns: The ongoing SEC lawsuits against Binance and Coinbase continue to weigh on the market. Additionally, potential regulatory actions from the Financial Stability Oversight Council (FSOC) could add further volatility, particularly concerning stablecoin issuers

Institutional Sell-Off of Stablecoins Fuels $BTC Decline Amid Market Concerns

Today, reports show that institutional investors are reducing their stablecoin holdings, which is putting downward pressure on Bitcoin. This shift is driven by concerns over the stability and regulation of digital assets, leading to market volatility and impacting the broader crypto market.