Bitcoin had a high of 118,856 yesterday and a low of 116,467, with a volatility of 2,389 points. Ethereum had a high of 3,824 and a low of 3,579 yesterday, with a volatility of 245 points. A total of 122,083 people were liquidated within 24 hours, with a total liquidation amount of $346 million. This wave of longs and shorts are battling it out, and the biggest beneficiaries are still the exchanges and market makers, while retail investors have contributed significantly to GDP in this round!
Today's analysis:
1.CFX Conflux public chain 3.0 is about to launch, planning to participate in the 'Belt and Road' offshore RMB stablecoin pilot, CFX surged over 100%.
2.SharpLink plans to sell another $5 billion in stock to increase its holdings in Ethereum.
3.USDE supply has exceeded $6 billion, a new high, ENA rose over 40% over the weekend.
4.Bit Origin plans to launch DOGE treasury reserves, raising $500 million and rising 30% over the weekend.
5.CEX altcoin market driven by ETH, CFX, CKB, ACH and other Hong Kong concept coins surged.
6.OM affected by the launch on the Korean exchange rose over 50%, the overall market is bullish, waiting for a rate cut in September.
BTC
Short-term analysis of Bitcoin, currently touching the trendline support, there is a possibility of a rebound, and even the possibility of creating a new short-term high cannot be ruled out, but selling pressure is heavy, the probability of upward movement is low and the space is limited, while the downside risk remains. If the trendline is broken, it will confirm the end of the upward trend since April, so caution is required in trading at this position to avoid falling into a trap.
ETH
The current rise in Ethereum has clear volume, except for retail investors trapped in the $3800-$4000 range, all others have been released. Institutions invested heavily to release retail investors, with the goal of making profits; the funding sources include not only counterparties but also retail investors who bought at high positions. Currently, there is some FOMO sentiment in the market, and we need to be cautious if institutions are offloading.
I’m not saying you can’t buy more, buying more is certainly fine, as the current market looks quite strong, but do buy wisely and make sure to sell quickly when the time comes. In a situation where the daily line hasn't even broken the ma5 trend, if it crashes, it will happen very quickly.
What to do if Ethereum sells off?
If you find that the price of Ethereum has risen to around $4,100, and you sold at a lower price, missing this rise, don't be too regretful. The market is always full of variables; there’s no need to rush to chase highs. There will still be opportunities to reposition in the future, and there’s no need to act blindly. At the same time, pay attention to opportunities in altcoins like PEPE and CRV.
Let me say something scary, the Doomsday Chariot NFT has also shown unusual activity.
The last time was the expectation of token issuance for PENGU and AZUKI, this time?!!!
pengu
This wave of holding pengu is harder than being single! At the bottom, I was almost the only one calling for a bullish trend, looking back at previous articles, I have been following up continuously; 130,000 USDT did not come for free. Friends are bearish, fans are bearish, and funds are still continuously flowing out! Two conditions need to be met before a real rise can happen:
1. Break the previous high of 0.0337;
2. At least three 5M or more one-minute bullish candles must be formed;
Lastly: SBF has been released! Just kidding, beware of rumors.
Be cautious in investing as recent market sentiment is high, making it easy to trigger FOMO or panic due to rumors. Rumors about $FTT and $CFX have already caused waves.
Big accounts and media often rush to release unverified news for traffic, and errors are common. For example, the rumor about users receiving $PUMP airdrops originates only from unverified Discord private chats, with low credibility. It is recommended to verify the source of information before investing and wait for official confirmation.
