Goldman Sachs - The possibility of the US economy entering a recession increases
Early this morning, economists from Goldman Sachs increased the possibility of the US economy entering a recession next year (2025) to 25%
=> The panic-sell effect is taking place in developed economies
Japanese stocks had a disastrous trading session that went down in history when it crashed deeper than the "Black Monday" event in 1987
Korean stocks also plunged in this morning's trading session -> The rate of investors cutting losses skyrocketed by more than 10% I wonder what will happen this afternoon & evening, when the European & US trading sessions begin😢
Hottest Crypto News of the Week: - Binance Delists 4 Spot Pairs - Genesis Starts Paying $4 Billion in Crypto, Bitcoin Price Dumps; - FED Keeps Interest Rates on Hold for 8th Consecutive Month; - MicroStrategy Continues to Buy More Bitcoin in July, Will Raise $2 Billion to Buy More Bitcoin; - Binance Labs Invests in 2 New Projects;
🔥Based on the chart, it can be seen that long-term Bitcoin holders are increasing their accumulation of BTC. This accumulation level has reached its highest level since December 2023.
Market overview on July 30 📌 24-hour price movements: - BTC reacted to the $70k area, was dumped strongly to $65k after the news that US CP transferred 29.8k BTC (~$2B) and the Mt.Gox wallet had a new move - Grayscale also continued to sell more than 18.7% of ETH after just 5 days of ETH trading - BTC price decreased by 4k but Altcoin is very stable, shown by BTC.D decreasing according to BTC - More than 285 million USD netflow was withdrawn from exchanges in the past 24 hours 📌 Strongest increase/decrease: - $JASMY (-7.3%) - $TAO (-6.7%) 📌 Outstanding cash flows on Binance: - DeFi: $COMP , $MKR, $AAVE, $SPELL - PoW: $RIF, $CTCX, $BCH
🔥Americans are hoarding bitcoin again The chart shows the ratio of Bitcoin reserves between the United States and other regions. From 2015 to present, this rate has tended to decrease, compared to other regions. However, the recent period shows an upward trend again, signifying that more and more Bitcoin is moving into exchanges and ETFs in the United States.
➡️ SEC approved Grayscale Mini Trust's BTC ETF application. This mini fund traded on NYSE ARCA is expected to have cheaper fees and reduce Grayscale's selling level
➡️ The US government transferred 29.8K BTC ~$2B to an unknown address. According to Bloomberg experts, this money can be used to store digital assets on Coinbase from the previous announcement of USMS
➡️ Grayscale deposited 100K ETH to Coinbase and then continued to dump $210M ETH. After 5 days of ETF trading, Grayscale's cash flow was negative $1,726B
➡️ Other ETH/BTC ETF funds have not had much trading fluctuations so far.
The US national debt has reached a record high of $35 trillion. This is an unprecedented number in history, showing the rapid growth of public debt in recent years. The current national debt per US citizen is $103,826. Debt per taxpayer is $267,404. This reflects the debt burden that every American must bear. Official federal spending is about $6.8 trillion, while actual spending is closer to $7 trillion. The official federal budget deficit is $1.865 trillion, while the actual deficit is $2.014 trillion. The current national debt to GDP ratio is 122.55%, breaking all records compared to previous periods. In 1960, this rate was only 52.60%, and in 1980 it was 34.63%.