Reasons for ETH's downturn:
1.
After the Ethereum ETF was approved, the selling pressure of Grayscale's early chips was too great. Even if other institutions took over, the digestion time was too long and it was indigestible.
2.
The chain continued to be sluggish, gas could not be increased, and deflation turned into inflation. In addition, Sol BNB and other companies divided the market, and Ethereum's business model was questioned.
3.
The main force sold off. The Ethereum Fund, as the leader, ignored the market downturn and the emotions of large holders, and only knew to cash out and go to paper gold. People have to doubt whether Ethereum still has its original intention.
4.
The strong will always be strong, and the weak will always be weak. ETH cannot keep up with the market's growth. There is no bottom line when it falls. The market has shown signs of abandoning it. It is better to buy BTC than to buy large-cap coins, it is better to buy Sol than to buy main chains, and it is better to buy BNB than to buy market value. ETH has lost its value orientation.

BONK

Kongcang treasures, the opportunity has come
The bearish trend continues, pay attention to the previous low point,
You can grab a rebound in the blue area!

Aggressive short selling in the 2494~2504 range, exit at 2500 if the five-minute K line stabilizes, relatively stable upper oscillation bottom long-short watershed near 2555 hourly line does not stabilize, the overall market tends to run in the bottom range. Stable ambush short orders in the 2590~2600 range

I am always unhappy in the cryptocurrency circle

1. I missed out, which makes me feel bad.

2. I failed, which makes me feel bad.

3. I regretted not investing all my money after transferring, which makes me feel bad.

4. I failed all my money, but I didn’t transfer as much as others, which makes me feel bad.

5. It makes me feel worse to see you transfer than to see me fail.

The current market continues to fluctuate downward. From the 4-hour level, the short-selling volume has almost ended. It can’t fall much further. There is not much room below. It started to close positively at 8 am and continued to be mainly low-long during the day, and a strong rebound is expected.

No one dares to buy at the real bottom. For example, retail investors are now playing badly, and have no intention of buying at the bottom. This is the sadness of retail investors! You will find that retail investors have been doing two things in this market:

1. At the end of the bull market, they rushed to buy, for fear of missing out, and they were trapped at the highest point! In 21 years, a large number of leeks and funds poured into this market, which is an unprecedented scene!
2. At the end of the bear market, they rushed to sell, and this time it was even worse, and they directly unloaded from the exchange. What's worse is that the post-00s don't open accounts or buy coins. This has never happened before. After all, the previous generation of post-90s and the previous generation of post-80s were very active in entering the market!

No one knows where the bottom is at the moment, and there is no need to predict it! Two points can be confirmed:

1. There are fewer and fewer people in the currency circle, and there must be a huge and grounded scene to create industry wealth.
2. The market is around 60,000, far below 49,000

On-chain detection
Yesterday's largest WIF holder
Spend 1.54 million USDC
Bought 800,556 WIF again at $1.92
Currently holds 28 million WIF (53.23 million USD)
Profits have exceeded $77 million

As of August 24, 2024, the price of pie has shown some volatility, but has generally remained at a high level. According to current market data, the pie is fluctuating around 63,000, a level that has risen significantly from the lows at the beginning of last year. Although there are differences in the market about the future trend of the pie, there are still many optimistic voices from a technical and fundamental perspective.

Top 10 tricks of the leeks in the cryptocurrency circle!!!

How many of them do you have?

1. Always buy coins based on rumors.

2. Frequent buying and selling, chasing when the price goes up and selling when the price goes down.

3. When the market is good, run away after making a little profit, but when the market is falling, hold on and don’t want to cut losses, always thinking that it will rebound.

4. No matter when, the position is full.

5. Feel panic when the price drops, afraid of being trapped.

6. Occasionally make a profit, think you are an investment genius.

7. Invest a large amount without knowing anything.

8. When it comes to currency, only know a few English letters, don’t know the background and application of tokens.

9. Only believe what you want to believe, and don’t listen to anything else.

10. Wait for a callback in the beginning of the bull market, think there will be a waterfall in the middle of the bull market, and chase the high at the end of the bull market.

Five taboos in playing with coins:
1. All-in
2. No stop loss
3. Trading against the trend
4. Frequent operations
5. Gambler mentality

5 Laws in the Cryptocurrency Circle💫

1. Rapid rise and slow fall means accumulating chips.
Rapid rise but slow fall means that the dealer is accumulating chips and preparing for the next round of rise.

2. Rapid fall and slow rise means selling.
Rapid fall but slow rise means that the dealer is gradually selling and the market is about to enter a falling cycle.

3. Don’t sell at the top if there is a large volume, and run away if there is no volume at the top.
If the top volume is large, it may continue to rise; but if the top volume shrinks, it means that the upward momentum is insufficient, and leave as soon as possible.

4. Don’t buy at the bottom if there is a large volume, but you can buy if there is a continuous large volume
The bottom volume may be a relay of decline, which needs to be observed; continuous large volume means that funds are constantly entering, and you can consider buying.

5. Speculation in cryptocurrencies is speculation in emotions, and consensus is trading volume
Market sentiment determines currency price fluctuations, and trading volume reflects market consensus and investor behavior

Time is like a net. Wherever you cast your net, there you will reap your harvest. When you are at the top, many people will look up to you. When you are at the bottom, many people will look down on you. When you are attracted by benefits, many people will follow you. When the benefits are gone, many people will abandon you.

News:
1. The US SEC rejected the lawsuit dismissal request of Hex founder Richard Heart, and the case will continue;
2. The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 75%, and the probability of cutting interest rates by 50 basis points is 25%;
3. Fed Collins said on Thursday that she believes the Fed has the ability to reduce inflation without triggering a recession, and hinted that she supports starting to cut interest rates next month;

Technical aspects:
Big cake: Since the end of July, the decline of 70,000 points has been a week, with a drop of more than 20,000 points. The strongest resistance formed during the entire decline is around 62,000 points. After the first rebound, it retraced more than 6,000 points near 62,750. After that, the daily line repeatedly retraced near 62,000 points. At present, it is generally in a large box of more than 4,000 points between 62,000-58,000 points! From the daily level, there is obvious pressure on the current 30-day moving average of 61150. At the same time, be careful of a spike near 62000. The support below is around the 7-day moving average of 60000 points. In terms of operation, you can focus on the bearish position near 62000!

Repeated pin insertion,
operations are becoming more and more limited
How to deal with the scam market?

Yesterday's large-scale market crash only ended at around 588. After several large-scale market crashes, the lows were higher each time, indicating that the supply was gradually absorbed by the main force. The main force can only gradually raise the price to get the chips. I estimate that the average price of the main force's chips is around 53,000. Combined with the previous bull market rise, it suddenly entered a wide range of fluctuations for half a year. This period should be in the main force's accumulation stage, that is, a rising relay stage. A few days ago, the market crashed to a low of 48,888 and rebounded quickly, indicating that the main force has digested a large amount of floating supply. It is also a shocking behavior. Then I kept my high point around 62,000 for half a month, which further shows that the main force is controlling the market, and a large number of sell orders were placed around 620 to lower the price. After several large-scale declines, the floating supply above was eaten up. Today, the news of Mentougou was released again, which made retail investors panic. Combined with Powell's speech this week, it is likely that the interest rate cut will be confirmed next month. Combined with the background of the interest rate cut, I think this is a preview of the upcoming pull-up. It is expected to be pulled above 62000. The low point will not be lower than 580. If it is lower than 580, it means that the supply has not been fully absorbed.

The market situation suddenly changed, and the big whales started to sell! On the eve of Bao's speech, investors need to be cautious
The alarm sounded! The big whales have quietly taken action. The giant crocodiles that have been deployed at the high position of Ethereum 1550 began to swing their sickles, and the selling wave surged. Bitcoin failed to hit the $61,000 mark today, and the price fell. The amount of liquidation on the entire network was shocking, as high as $100 million. Is the market about to usher in a second bottom?
In this wave of treacherous market conditions, steady progress seems to be a luxury. But don't worry, we might as well change our thinking, temporarily avoid the edge, and grab the wool of Web3-CARV activities are in full swing. Simply sign in to get rewards, why not?
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Comrades, gather together 🈳️

I found that this year's market conditions were either plummeting or staying flat during the day, and if they rose, they kept rising.

AAVE should not rise any more, if it rises any more it will lose small pearls

Loss of 2550