Evening news: Hong Kong-listed company Yunfeng Financial announced that it has purchased 10,000 Ethereum as part of its crypto strategic reserve. Public information shows that Jack Ma personally holds 11% of Yunfeng Financial's shares, and his founded Yunfeng Fund holds 47.25% of Yunfeng Financial's shares, indicating that Yunfeng Financial is directly controlled by Jack Ma. Yunfeng Financial also announced that besides Ethereum, they will explore including BTC and SOL in their strategic reserve plan.
As for the cost issue of Jack Ma's treasury Ethereum, from the announcement details, the average holding cost is around 4,300 points, which is higher than most retail investors' value investment costs. Decentralization has become inevitable, and the crypto trend is unstoppable. The market price dropped to $107,255 before rebounding, with Ethereum hitting a short-term new low of 4,210 points. During the day, Bitcoin and Ethereum took turns to recover the weekend's decline, and then before the U.S. stock market opened, Bitcoin led to another downward spike.
Currently, Bitcoin has rebounded, breaking above last weekend's recent low, while Ethereum and other altcoins are generally consolidating at the bottom. The main reason for the uncertainty in the market comes from liquidity issues after the US stock market's closure, especially the strong increase in Ethereum bulls. It’s hard to maintain upward momentum without a push downwards. After two upward spikes, over $460 million was liquidated in 24 hours across the network, with more than 160,000 people liquidated. The market is still at this position; the positions are already vastly different.
U.S. stocks opened lower across the board in the evening, with the Nasdaq down 1.7%, S&P 500 down 1.2%, and Dow Jones down 0.9%. The U.S. listed company ZONE, which announced the establishment of a Dogecoin treasury, plummeted 58%. In contrast, gold spot prices broke through $3,510, creating a new historical high, as traditional capital's fiat currency risk aversion sentiment surged rapidly in the short term.
This time, the economic uncertainty news comes from multiple self-media reports about Trump's deteriorating health. Last week, U.S. Vice President Pence publicly stated on social media that if Trump were to step down, he would swiftly take over as the head of the White House. Then today, news came that Trump's daughter-in-law was admitted to the hospital, combined with some media reports about Trump having suffered a stroke, the market finally evolved into what it is tonight.
To be honest, Uncle San personally thinks that such statements can continuously affect the market, which is quite bizarre. The secrecy work in the U.S. shouldn't be so inflated. Assuming there really is an issue, their domestic healthcare level is among the best in the world. I do not deny that Trump's unexpected exit could lead to a brief global financial storm, but we cannot deny the U.S.'s power to stabilize any order globally, as long as that is what he wants.
Latest news: Tonight at 2 AM, Trump will give a speech at the White House, mentioning an unexpected surprise. Rumors may fizzle out because of this; let's hope for a real surprise. If there’s a scare in the middle of the night, many people might end up staying awake again. This world is like a makeshift stage; who becomes president or steps down doesn’t affect us ordinary people much. Great people are great no matter where they are.
Uncle San has previously mentioned a logic: those who can make money in trading markets will not do poorly in their real-life careers. Self-discipline, rules, and principles are our stabilizing anchors in the face of unexpected market fluctuations.
Back to the market:
Bitcoin: Bitcoin rebounded after probing the bottom near 107,250 points again. At noon today, Bitcoin's four-hour closing broke the downward trend line, and after a brief adjustment, it rebounded again after tonight's decline; currently, the four-hour bullish trend is gradually increasing. The market fundamentals need a stable state around 111,000 points for several consecutive days, which is a key focus. The market sentiment turned pessimistic yesterday, but Bitcoin today managed to pull some strong sentiment. The stabilizing anchor of the crypto market indeed lives up to its name. If the four-hour level in the short term can maintain such strength like today, it may change the bottom situation of the daily level and allow the market to pull back accordingly, which could establish the previous two bottom formations and create a range resonance with the double-top pattern. Bitcoin's sideways movement will lead to capital overflow, and seeking movement variables after a change in the macro situation will be the final step.
Ethereum: If Bitcoin can establish a bottom and retest it, Ethereum will surely have a third retest. On the positive side, the needles are getting longer, but on the downside, the bottoms are getting lower. The long-term trend for Ethereum is still undebated, and there are many sector-specific positives yet to unfold. However, it is indeed challenging to withstand this endless downward trend in the short term. Ethereum lacks short-term expectations; let’s wait for a stop-loss signal after the rebound. A stable hold at the 4500-point high can be seen as a stop-loss, gradually reversing towards bullish territory, with downward support at 4200 points; if it breaks down, it’s 4000.
Currently, altcoins are maintaining strategic composure, waiting for Bitcoin to stabilize before taking action. Whether it's SOL or DOGE and other earlier bottom chips, they are relatively weaker in the downtrend compared to most altcoins. Other smaller altcoins can be considered for liquidity inflow after September.
The fear and greed index is at 39 today.
#现货黄金创历史新高 #特朗普家族币 $BTC
