CRYPTO ACADEMYSİ

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The US government has a significant presence in the crypto space and holds a significant amount of digital assets.
According to the latest data from Arkham, a wallet identified as belonging to the government currently holds approximately 203,200 Bitcoins (BTC) worth approximately $12 billion. This figure makes up the majority of the crypto portfolio.
In addition to Bitcoin, the government also controls 50,200 Ethereum (ETH) worth approximately $130 million and 750.7 wrapped Bitcoins (wBTC) worth $44.41 million. When other tokens are taken into account, the wallet’s total assets are approximately $12.4 billion.

Other significant assets held by the US government include:

Binance Coin (BNB): 40,285 BNB worth $21.64 million Aave USDC (aUSDC): 19,045 million aUSDC worth $19.04 million Binance USD (BUSD): 13,623 million BUSD worth $13.62 million USD Coin (USDC): 10.14 million USDC worth $10.14 million Dai (DAI): 8,664 million DAI worth $8.66 million Wrapped Ethereum (WETH): 2,014 WETH worth $5.28 million Tron (TRX): 15.18 million TRX worth $2.05 million Uniswap (UNI): 300,645 UNI worth $1.92 million
The wallet also includes more assets like Shiba Inu (SHIB), Chainlink (LINK), and Axie Infinity (AXS) There are also small amounts of tokens.

In a last-minute development, it was claimed that 10,000 BTC worth approximately $600 million was moved from the bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek wallet, which reportedly belongs to the US government.

The leading cryptocurrency Bitcoin has been on a downward trend since March, when it renewed its ATH.
BTC, which has been going through a turbulent period since March, fell to $ 49,500 last week as a result of the widespread correction in global financial markets spreading to the cryptocurrency market.

While the market continues to digest Bitcoin's sharp decline, which fell to $ 49,000 last week, Bitcoin's price performance in recent weeks seems to have changed investors' behavior.

Investors Started Accumulating Bitcoin (BTC) Again!
At this point, Glassnode said that BTC investors who have been selling for months have started accumulating Bitcoin again.

In a blog post published yesterday, Glassnode stated that after the recent sales, investors switched to HODL (long-term holding) and accumulation trends.

According to the data, Glassnode pointed out that the accumulation trend is strong among long-term investors (LTH), and said that LTHs have accumulated a total of 374 thousand BTC in the last three months.
“According to the data, 45% of Bitcoin supply has not moved in 6 months. After months of relatively intense selling pressure, Bitcoin investors’ behavior seems to have shifted towards HODLing and accumulation.

Overall, on-chain data indicates that Bitcoin holders have a strong belief in the bullish outlook.

The fact that the long-term investor group continues to HODL and accumulate indicates that they expect higher prices. In addition, the absence of panic selling among this group highlights the durability of their overall belief.”

Analysts added that although the selling pressure on Bitcoin price and the market has decreased, this pressure has not yet completely disappeared.

Billionaire entrepreneur Elon Musk is expected to interview US Republican presidential candidate Donald Trump on Monday, today at X.

Experts say that this interview could bring more surprises to the turbulent US presidential election, and it could also provide Trump with an opportunity to be in the spotlight at a time when his campaign is on the decline.

Because Donald Trump's chances of winning have dropped to 45% against Kamala Harris on PolyMarket. Harris' chances of winning have increased to 52%.

Donald Trump and Elon Musk will have a live chat today at 8:00 PM ET (03:00 GMT) on X Spaces, without a script and without any restrictions on topics.

While it remains unclear whether the big news will be announced in the Elon Musk Donald Trump chat today, speculations are currently high that an announcement will be made regarding Bitcoin and cryptocurrencies. At this point, experts have assessed that the market could see a big rise this week, depending on whether cryptocurrencies will be included in the chat.

Trump recently attended the Bitcoin 2024 conference and gave his full support to BTC.

Elon Musk and Donald Trump Relationship!

Musk, the richest man in the world, supported Democratic President Joe Biden in 2020 but announced his support for the Republicans after the assassination attempt on Trump in July.

Extreme Fear Turns Neutral

As we previously reported, the devastating market crash had put market sentiment for Bitcoin and altcoins in “extreme fear” territory, but the Crypto Fear & Greed Index is currently back in neutral territory at 48 out of 100. This recovery in market sentiment is seen as an example of an impressive sentiment recovery.

According to data from crypto data and pricing platform CoinMarketCap, BTC is trading around $61,000 after giving back some of its big gains. This situation has once again highlighted the volatility of the market and how quickly investor sentiment can change. Nevertheless, Bitcoin continues to attract investors with its sharp price movements.

Advice for Investors

Some takeaways for experienced investors in the cryptocurrency market:

Given Bitcoin’s volatility, careful analysis should be done before investing.

The actions of institutional investors can have a big impact on market trends.

The Crypto Fear and Greed Index is an important indicator for understanding market sentiment.

Instead of panic selling during extreme declines, it may be wise to watch for signs of market recovery.

As a result, Bitcoin markets can change rapidly and investors should plan their strategies with this volatility in mind. Regular market analysis and a cautious approach are important for long-term gains.

Crypto Assets and Financial Markets Regain Stability After Recent Drops

Despite traditionally low correlation between major tokens and other asset classes, recent volatility in traditional markets has weighed on crypto valuations.

The decline began after a weaker-than-expected US employment report was released on August 2. The report pointed to a rise in the unemployment rate reminiscent of past recessions, raising fears of an economic downturn.

This led to weaker performance in cyclical assets like stocks, while strengthening traditional safe havens like US Treasuries, the Japanese Yen, and the Swiss Franc. Non-US stocks and strategies that bet on US stock volatility also underperformed.

While both Bitcoin and Ethereum experienced declines, Bitcoin performed relatively better on a risk-adjusted basis. However, Ethereum underperformed compared to other crypto assets and many traditional market segments.

Historically, Ethereum’s price has typically fallen by about 1.2x Bitcoin during downturns. The last “crypto winter” saw Ethereum fall approximately 1.8 times more than Bitcoin, indicating unparalleled downward pressures.

Bitcoin’s Rise Justified

Market watchers attribute the rally to the positive sentiment in the stock market and the expectation that Bitcoin will repeat past market cycles. Transform Ventures founder Michael Terpin predicts that the price will not fall too far below $50,000, especially after the Bank of Japan announced that it will not raise interest rates and investors who sold heavily sold off their Bitcoin. He also said that the largest cryptocurrency will follow its traditional four-year cycle lines and make strong gains in October and November.

Terpin also warned that Bitcoin’s price could rise above $100,000 if Donald Trump wins the US elections. He added that the current fifth Bitcoin cycle is no exception to this rule, given the pullbacks experienced in the six-month period following the block reward halving in the past. He added that October and November have historically been strong months for Bitcoin, especially in the year of the block reward halving and the following year.

Bitcoin’s rise also gave momentum to other major cryptocurrencies. Ethereum (ETH) and Toncoin (TON) rose 10 percent, while Solana (SOL) and Cardano (ADA) gained 5 percent. XRP fell slightly amid profit-taking following Thursday’s 17 percent surge.

The 4-Week Average of Unemployment Claims, which offers a more balanced picture by reducing the effect of weekly fluctuations in unemployment claims, was announced as 240,075. This data shows the number of individuals who continuously apply for unemployment insurance and is closely related to recession.

Data May Ease Recession Concerns

The fact that the Nonfarm Payrolls data announced on Friday last week came in well below expectations caused recession concerns for the US economy to peak. This situation, combined with the Bank of Japan's interest rate hike decision, caused great selling pressure on global markets and cryptocurrency markets. Bitcoin (BTC) fell to $48,800 on Monday, August 5, which went down in history as a new "Black Monday", while many altcoins, especially Ethereum (ETH), lost more than 10 percent of their value.

Concrete Inferences for the User

Economists assess that the latest data on the US employment market will ease recession concerns. Here are some concrete and valuable insights to be derived from this data:

Unemployment Claims are lower than expected, indicating economic health.

Continuing Unemployment Insurance Claims data is close to expectations, which may ease recession concerns.

The 4-Week Average of Unemployment Claims presents a balanced economic picture.

The fact that the data came in line with expectations in general can be interpreted as a signal that the stability in the US economy is maintained, and this situation may bring short-term relief to the markets. Economists assess that this data will ease recession concerns.

Why Is Bitcoin Rising?

A data from the US in the past minutes seems to have had a positive impact on the market. While the sounds of recession have been rising in the country since last week, expectations for the country's major companies had been raised from 25% to 35%. Despite this, the announced unemployment benefit data was below expectations and it is thought that this may have had a significant impact on the market.

It is thought that the expectation that the FED in the US may start to reduce interest rates rapidly had a positive impact on the price increase, and Bitcoin quickly recovered from the $48,800 level it fell to and returned to above $55,000. On the other hand, the news that the US's major investment companies did not sell BTC despite the declines had a significant impact on the price increase.

Finally, the fact that the Middle East tensions that have been going on for days have now taken on a calmer atmosphere seems to have reduced the uncertainties in the world to some extent.

How Many Dollars is Bitcoin?

After seeing $70,000 last week and experiencing a sharp decline, the Bitcoin price is heading back towards the $60,000 level as the week ends. As of writing, BTC is trading at $58,077 following a 1.70% increase today.

Watch Out for $55,000 Support

Technical analysis is an important tool in examining market sentiment and investor behavior. The confirmation of a bull flag formation with Bitcoin's current price movements may be a sign of potential future increases. However, for this formation to remain valid, the price must remain above the support level at $55,000 and exceed the resistance level at $69,000.

Recommendations for Investors

Closely follow the support level at $55,000.

Watch whether the resistance level at $69,000 is broken.

Take a position according to Bitcoin's price movements.

As a result, Bitcoin's consolidation in the $55-70,000 range since March 2024 has caused the formation of a bull flag formation. This formation may be a sign of potential future price increases. However, it is important for investors to carefully monitor whether the price remains above the support level at $55,000 and exceeds the resistance level at $69,000.

How Much Are Cryptocurrencies in Dollars?

Following the decline in the market on Monday, the price of Bitcoin fell below $ 49,000. As of today, BTC is finding buyers at $ 56,600 after an increase of more than 7%. Ethereum is trading at $ 2,500 with an increase of 5.58%. This situation shows that Bitcoin is performing better than Ethereum.

Binance's native token BNB showed a price performance parallel to BTC. The BNB price increased by 8% in the last 24 hours and is in the $ 488 region. Solana, which left its mark last year and this year, increased by 14% to $ 146.

Valuable Inferences for Users

According to Binance's latest statements, here are some important points that users should pay attention to:

There is an increase in BTC assets, so BTC investments can be safe.

There is a decrease in ETH assets, so ETH investments can be risky.

There is a decrease in the amount of USDT, which may indicate liquidity issues.

The cryptocurrency market can experience major fluctuations, so caution should be exercised when investing.

In conclusion, Binance's large crypto reserves stand out as a reassuring factor for investors. However, market fluctuations and the volatile nature of cryptocurrencies should be taken into account.

How Many Dollars is Ethereum?

When the last 48 hours are considered, it is seen that Ethereum, along with the rest of the cryptocurrency world, experienced a huge decline and then a small recovery. After the price decline, ETH fell to $ 2,100, but with today's recovery, it is seen to have returned to above $ 2,500, which means a 2.53% increase.

The Ethereum price increase also increased the market volume, and the volume reached $ 304 billion. On the other hand, the 24-hour trading volume decreased noticeably. After the 57% decline, ETH's trading volume seemed to have decreased to $ 29.7 billion.

Investors' Implications

- Ethereum wallets should be checked regularly.
- Cryptocurrency movements should be monitored carefully.
- Be prepared for market fluctuations.

The altcoin’s Relative Strength Index (RSI) is at 38.41, which is close to the oversold zone but has not yet been reached. This suggests the potential for a short-term bounce. The Chaikin Money Flow (CMF) indicator is at -0.10, indicating capital outflow from Celestia and the presence of selling pressure, but this pressure is not very strong.

Bullish Catalysts for the Altcoin

According to Coinalyze, Celestia’s Open Interest (OI) has increased by 10.14 percent in the last 24 hours. When this increase is evaluated together with the recent price increase, it would not be wrong to say that market participants are buying TIA, which is a positive indicator for the asset.

User Recommendations

- Carefully monitor the support level around $4.5.
- Consider the EMA levels at $6,370 and $9,426 as resistance.
- Follow the RSI and CMF indicators, as these indicators can provide information about short-term trends.

According to data from CoinGecko, TIA’s daily trading volume increased by 31%, indicating increased trading activity. If this is sustainable, the rise can be expected to continue.