Bitcoin $BTC loss accounts surge
According to the UTXO account model, the number of losing trading accounts continued to soar during the recent local lows of Bitcoin, reaching extreme levels at the bottom of the bear market cycle, black swan events, and major bullish pivot points. This situation is similar to the trend after the COVID black swan events in September 2023 and 2020, indicating that a big market is about to come.
Altcoins experience a tragic bull market
Before the current #牛市开启 , retail investors have experienced unprecedented difficulties. Many altcoins have fallen sharply in price and even returned to the lowest point of the bear market. This situation has never occurred in previous bull markets.
Transition from mid- to late bull market
Cathie Wood recently said that we are in the middle of the bull market and will enter the final stage next, which is the stage of rapid price increases. Consistent with the views of many market analysts, there is no other choice but to wait patiently.
#山寨币 Holders' numb emotions
Currently, many altcoin holders are indifferent to market news, and the sentiment is similar to the bottom area of the big bear market. Nevertheless, it would be very uneconomical to give up holding altcoins, because Bitcoin's trend has been good, and the bottom has gradually improved, while altcoins are weak but also follow the market.
Expected market reaction in September
It is expected that there will be capital flow in September this year, and most altcoins have opened in October over the years. According to the current market chart analysis, the market may react in advance in mid-September, indicating that the bull market is coming.
$ETH Price trend
Although there has been a net outflow of #ETH现货ETF recently, the outflow is the lowest point ever, only 403 ETH. At the same time, Grayscale's selling slowed down, and BlackRock bought a large amount of ETH when the price fell, showing optimism about the future market. Most ETH spot ETF investors believe that ETH prices will perform better in the future.
Importance of Coinbase spot trend
Observing Coinbase spot trend may determine the return of the bull market. Recently, the comparison of trading volume between Coinbase and BN perpetual shows that futures dominate the market, while spot only enters the market after the price breaks through the key point. In the future, if Coinbase spot leads the rise, the bull market may restart.
