🚀 #Ethereum has surpassed #Bitcoin

At the end of yesterday's trading session, the #Bitcoin-#ETF recorded an outflow of $148 million, while the #ETH-ETF, on the contrary, attracted about $98 million.

Meanwhile, the Fear and Greed Index has rebounded from yesterday's extreme levels and is now at 29, which is characterized as regular fear.

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#CryptoNews

🪙 Long-term #Bitcoin holders have taken advantage of a good entry price and have effectively further reduced the circulating supply of #BTC — that is, the number of coins available on the market.

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#FactOfTheDay

☠️ The market is facing a "Death Cross"

The decline in #Bitcoin and #Ethereum, triggered by the stock market crash, has led to the formation of a worrisome technical analysis pattern known as the "death cross."

🕯 Usually, the "death cross" forms when the 50-day moving average crosses below the 200-day moving average. Currently, a similar pattern can be observed on the #ETH and #BTC charts, signaling a potential significant drop in asset values.

📉 If this scenario plays out, #Bitcoin may fall again to levels around $50,000, and #Ethereum might decrease to the liquidity range around $2,000 per coin.

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#Analytics

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🎢 The market is reacting with growth following the news about unemployment claims

The number of initial unemployment claims in the U.S. was 233,000, which is lower than the previous figure of 249,000 and the forecasted expectation of 240,000.

🪙 #Bitcoin responded by rising to $58,000, and #Ethereum briefly reached $2,500 per coin.

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#CryptoNews

📈 The market continues its rapid recovery

#Bitcoin approached $63,000 last night, and #ETH rose above $2,700.

The unemployment claims data mentioned in the previous post significantly improved investor sentiment. Additionally, whales with balances ranging from 10 to 1,000 #BTC were actively buying coins at the $50,000 level, indicating the market's belief in Bitcoin's long-term prospects.

Meanwhile, the Fear and Greed Index has risen to 48 and remains in the neutral zone, while the available BTC balance on exchanges has reached a five-year low of 2.68 million coins.

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#CryptoNews

🪙 A fork can be compatible with previous versions, as in the case of a soft fork, where the update does not result in the blockchain splitting into two separate chains. An example of a soft fork is SegWit in #Bitcoin, where the blockchain remained unified after the update.

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#Glossary

📸 Snapshots are often used before hard forks to determine the amount of new tokens that users will receive, as was the case with #Bitcoin and #BitcoinCash.

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#Glossary

🌍 Weekly news #CryptoDigest:

🪙 BTC.D (Bitcoin Dominance over altcoins) — 57.35%
🧭 Fear and Greed Index — 25

🇺🇸 August 15 15:30 USD — Number of initial jobless claims. Forecast — 235k, previous value — 233k

📌 #Matrixport believes that a Bitcoin rally is inevitable after the release of U.S. inflation data

🕯 #Bitcoin is reducing volatility — this year, there have only been 25 days with significant price movement

🔷 Gas fees on the #Ethereum network are at an annual low

🪙 A critical vulnerability in the #Solana network has been fixed

🪙 #Ripple has begun testing its stablecoin — Ripple USD (#RLUSD)

🪙 #BTC reserves on exchanges have reached a 5-year low

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#Analytics #Bitcoin

🪙 As of right now, it can be assumed that the price of #BTC will remain around $60,000 for some time — likely until the release of U.S. inflation data. However, market highs and lows suggest a local bottom.

🕯 This is also confirmed by the NVT GC indicator, which has dropped below -1.6 points, indicating excessive cooling of the price. After similar signals on January 18 and July 12, #Bitcoin rose by 78% and 23%, respectively.

📈 Additional events that could influence market growth include the release of the Producer Price Index on August 13 and the Consumer Price Index data on the 14th, which is expected to fall below 3%.

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🙁 #Bitcoin is down again, but not by much — let’s figure out what's going on

#Lookonchain believes that the drop below $60,000 is due to institutional investors ceasing to accumulate #USDT.

The insufficient inflow of stablecoins to exchanges indicates a lack of buying pressure, but with the start of the new week, funds may begin taking advantage of the #BTC drop to accumulate it, which would bring new capital into #ETFs.

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#Opinion