Recently, the overall market is in a bearish testing support zone, but it is clear that the trend is mainly fluctuating. It drops at night and rebounds during the day, indicating that it will not end easily. It is likely still not meeting some major players' expectations. Bitcoin ETF has seen capital outflow for four consecutive working days. This outflow period will not last long and may be at the critical point of reversal. Once capital inflow returns positively, the market will inevitably rise. Publicly listed company consortiums and MicroStrategy have basically been buying continuously without being affected; purchasing power is still present.

The bearish sentiment regarding Ethereum staking is also changing, as the amount of POS unstaking has started to decrease. The unstaking queue exceeded 900,000 tokens the day before yesterday, but today it has fallen to 870,000 tokens. The amount waiting to be staked has also increased to 200,000 tokens. Once staking and unstaking reach a balance point, it means that the turnover between old and new holders is complete, and at that time, ETH may restart its market movement.

It is now clear that the market is not at the end of a bull cycle, so firmly hold onto your respective holdings and do not think about making short-term trades. The fluctuating market will not last long. After Old Bao finishes speaking this week, the market sentiment will more or less return to speculation about interest rate cuts. September is just around the corner, and this topic cannot be avoided.