August 2 · Crypto Circle Early Insights
For those brothers who didn’t close their positions before bed, you probably woke up today wanting to curse. Prices have come back, but positions might not recover, this market truly educates people from beginner to giving up.
BTC fell below 115,000, the weekend relied on wild speculation
The sharp drop in US stocks dragged Bitcoin down, and the CME gap was conveniently filled. With liquidity dried up over the weekend, the market was left to wild speculators to play around.
ETH's hard struggle failed, ultimately being dragged down
ETH once tried to stand firm against the trend, but when the big brother pulled it down, it could only obediently keep up. Short-term rebounds depend on luck, while long-term still requires a stable mindset.
SOL the weakest player, BONK series collectively collapsed
SOL continues to act as a market lever, following the drops but not the rises. Especially with the BONK series deflating all at once, the on-chain enthusiasm has cooled down.
Trump fires on all cylinders, criticizes employment data and the Federal Reserve
Trump accuses the employment data of being fake, demands the dismissal of the Labor Statistics Bureau director, and even threatens to “quickly replace Powell.” However, he later stubbornly stated that he “might continue to stay,” purely for show.
Metaplanet plans to issue 55.5 billion yen in preferred shares to increase BTC holdings
The Japanese version of “MicroStrategy” is starting to take over, preparing to continue converting fiat currency into Bitcoin. The global Bitcoin reserve story seems to be getting bigger.
