Market Trends and Important Developments

Bitcoin Situation: Recently, there has been a whale in the market called 'Mr.500', who has been trading 500 bitcoins at a time since August 26th. As of September 7th, he has purchased 12,500 bitcoins at an average price of about $58,000, costing approximately $0.725 billion. Currently, it seems that the big players are bottom fishing, as I have observed an inflow of positions from large holders, while ETFs and retail investors' chips continue to flow out. The price of bitcoin has dropped to the cost price of miners, around $54,000. Some mining farms have started shutting down due to lack of profitability. This may indicate that the market's bottom is approaching and the price may rebound soon.

Altcoin Situation: Recently, the price of bitcoin has been fluctuating within a concentrated range of chips, with frequent liquidations, and the data also shows many cases of forced closures. Even before and after interest rate cuts, the market trend may not immediately reverse. Currently, the correlation between bitcoin and the US stock market is very strong, and the market has been continuously hitting new lows within the cycle. It is recommended to gradually buy altcoins at new low prices in batches. If you plan to reenter the market when bitcoin rises to $0.06 million, you may miss out on many opportunities for altcoins to double, and the market volatility may trigger forced closures again.

Continuous Panic in the Market: Today's panic and greed index is 23, indicating extreme fear. This index is composed of multiple factors including volatility, market trading volume, social media popularity, market surveys, the proportion of bitcoin's market cap, and Google hot keyword analysis.

Market Trends and Predictions:

It is expected that there will be an interest rate cut on the 19th, which is 11 days away. There are already many investors in the market facing a shortage of funds, and some have even suffered losses to the point of zero. It is not advisable for friends with limited funds to participate lightly, especially those without stable sources of funds. Do not borrow to invest, as it may become a bottomless pit.

TON has been surpassed by Cardano and is currently ranked 12th in terms of market cap for cryptocurrencies.

The Fractal Bitcoin mainnet is scheduled to go live on September 9th, with 80% of the tokens being distributed to the community.

Ethena's second season airdrop campaign has ended and will be available for query on September 9th. Everyone can pay attention to Ethena airdrop, there will be a third season.

The US presidential election debate will be held on September 10th, with Trump facing off against Harris.

August CPI data will be released on September 11th.

The European Central Bank will announce its interest rate decision on September 12th.

The Open League, the TON ecosystem's 6th season, will begin on September 12th.

Etherfi's third season will end on September 14th.

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