Over the past year, an interesting phenomenon can be observed in the net Bitcoin flow data from exchanges: in the last six months, the amount of Bitcoin deposited into exchanges has decreased, while more people are withdrawing, indicating that Bitcoin is starting to 'run into wallets.' Although the amount withdrawn has slightly decreased in the past week, there are actually not many investors preparing to sell, so Bitcoin's price remains relatively stable. Simply put, unless the market encounters significant systemic risk, people are generally reluctant to easily sell their holdings, providing strong support for the price.#BTC再创新高
BTC
This week's macro data will be quite abundant, from Tuesday's CPI to Wednesday's PPI to Thursday's retail data, which may cause some market volatility, especially since the market's prediction for the CPI data is not very good, potentially lowering expectations for a rate cut in September. However, this is likely to be short-term, as there are still data from July and August ahead.
Last night, after BTC's price broke through new highs, the gap at $114,000 has changed from 0% to 0.01%. Of course, this does not count as filling the gap; currently, the gap between $112,000 and $114,000 in URPD is still considered a gap. As previously mentioned, the URPD gap can be filled not only by a decline but also by breaking through new highs.
PEPE
Price increases face resistance#PEPE创历史新高
The price of Pepe is currently fluctuating between $0.0000092 and $0.0000108. It is accelerating upwards, having increased by 25% within just a week. If it continues to rise, it may reach the recent resistance level of $0.0000116, approximately 20% higher than its lowest price. After that, the target price is $0.0000132, with an increase of nearly 40%. However, as the RSI is around 43, the market has not yet entered the overbought zone, indicating further upward potential. However, any decline will seek support around $0.0000084, which represents a 10% drop, or even $0.0000068, representing a drop of nearly 25%. If the current trend remains stable, Pepe may continue to rise.
SHIB
Shiba Inu (SHIB) has recently seen a continuous surge in numbers, looking towards new highs#SHIB
Shiba Inu (SHIB) is currently on an upward trend, with prices fluctuating between $0.00001122 and $0.00001228. The token has shown a strong increase of over 14% in the past week. If this momentum continues, SHIB could break the resistance level of $0.00001274 and move towards the next resistance level of $0.00001380. Such an increase indicates that SHIB has the potential to continue rising about 12% from the current range's peak. Nevertheless, the market remains quite active, and SHIB's overall decline over the past six months suggests that challenges lie ahead. If SHIB drops, it may find support around $0.00001062 or, more concerning, $0.00000956.
PEPE and SHIB show strong performance, indicating potential growth prospects. Buyers and sellers are closely monitoring their movements. The increase in interest and activity could soon drive up their prices. If the momentum continues to strengthen, holders of these tokens may experience new highs. It is crucial to closely monitor market trends and factors affecting these tokens.
DOGE#doge⚡
The price reignites bullish momentum, breaking through key resistance levels and reigniting the enthusiasm of traders and investors. The daily chart shows a classic upward pattern, and if momentum continues, it may trigger a breakout rally.
After a month of consolidation, Dogecoin (DOGE) has broken through the $0.20 mark, once again becoming the focus of the market. Fibonacci extension levels indicate that Dogecoin is expected to challenge a target of $4, while the rebound in trading volume against the backdrop of Bitcoin's historical highs further supports this expectation.
Currently, the price of Dogecoin is $0.199, with a daily increase of 10% and a weekly increase expanding to 19.61%. The market's $7.6 billion futures bets indicate that analysts are generally optimistic about Dogecoin's increase, with expectations of over 2000%.
One of the highlights of this rebound is Dogecoin's stable trading volume, which exceeds $2.5 billion in 24-hour trading, surpassing Binance Coin (BNB, with a trading volume of $2.3 billion and a market cap of $95.8 billion), despite Dogecoin's market cap being only $29.8 billion. Market sentiment remains high, with the futures market's 24-hour trading volume reaching $7.6 billion and open interest funds around $2.7 billion, indicating strong confidence in Dogecoin's rise.
Recently, Ethereum quickly surged📈, breaking the $3,000 mark, but was soon brought back down, coupled with the overall bearish sentiment towards Ethereum! This has led ETH's price to fluctuate downwards around $3,000 in recent days!
The new high in ETH short liquidations indicates that the overall market is bearish or even shorting ETH. This is actually quite normal because ETH's previous performance has indeed been such that whenever it rises to important levels (like around $3,000 or $4,000), it tends to thin out and has fluctuated back and forth multiple times! This has led most people in the market to lose confidence in ETH, viewing it as weak or even trash, so at important levels, many people are bearish or shorting it! Does this mean ETH will find it difficult to break through? Is it unable to stabilize at $3,000?
From the daily chart perspective, ETH has reached the pressure level around the $3,000 mark, which is also a previously dense trading area, and the market is currently entering a short-term sideways consolidation phase.
From a broader perspective, ETH is in a bull market. In a bull market, all resistance levels are meant to be broken, bullish indicators are strengthened, and bearish indicators are weakened, so the probability of rising in the future is relatively high! It may break through and stabilize above the $3,000 mark!
