Bitcoin is under pressure:
In the last week of August, the price of Bitcoin dropped below $110,000, returning to levels from a month ago. The Fear and Greed Index fell to 47 points, reflecting increased caution among investors.
According to C**n22, this is a typical scenario: speeches by Fed Chair Jerome Powell at Jackson Hole traditionally first cause short-term growth, followed by a correction. In August, the market reacted similarly: the announcement of readiness to lower rates led to a rise, followed by profit taking.
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Additional pressure on the market was exerted by:
● Transfer from an old wallet of 24,000 BTC amounting to about $3 billion.
● Sales from major players and partial capital transition to Ethereum.
● Low liquidity on weekends and an increase in exchange reserves.
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The author is confident that the Fed's rate cuts could trigger a new cycle of cryptocurrency growth.
According to forecasts, a return to zero rates in 2025 is even possible, which would be a powerful driver for the market. Therefore, C**n22 believes that investors should look into buying promising coins.
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#Ethereum strengthens positions:
Against the backdrop of Bitcoin's weakness, interest in Ethereum is rising. The coin's share reached 15 percent — the highest in the past year. Funds are actively buying the coin, while exchange reserves have fallen to minimal levels, which could lead to supply shortages and price increases.
Key buying levels: $3,800, $3,400, and $3,000.
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#Solana and institutional interest:
Institutional funds, including P*****a C*****l, plan to invest up to $1.2 billion in Solana. Support from major players can significantly reduce supply in the market and strengthen the asset's position.
From a technical point of view, the levels of $180 are important as a liquidation risk zone and resistance in the range of $206–232.
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$XRP and potential growth:
XRP continues to struggle to hold above $3. Since the July peak, the coin has dropped by 20 percent, but long-term investors have started actively accumulating it again, investing over $600 million.
If the level of $2.95 is held, the potential for growth to $4 and above opens up.
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#Chainlink and new prospects:
Bitwise has submitted an application to the SEC to launch the first Chainlink-based ETF in the USA. An additional driver is the partnership with the Japanese S*I Gr**p and collaboration with global corporations.
Key demand levels for LINK are at $20, $18, and $BTC 17.
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Stellar (XLM) corrected after a 100% rise in July and is consolidating at supports of $0.32–0.27.
Sui maintains an upward trend, but a pullback to around $2.5 is possible.
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Conclusion:
C**n22 is confident that the current correction opens long-term accumulation opportunities. He recommends watching key levels of fundamental coins, using dips for purchases, and assessing prospects for at least a few months ahead.
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P.S. So, is it possible to do such reviews and be a popular blogger?😁 I’d rather do my own as I did, less chance of public embarrassment... Thanks to those who read, it's worth a lot by itself.
