Andrey

@orange24

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136 Followers

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In addition to El Salvador, Bhutan is buying BTC. The Bitcoin balance of the Kingdom of Bhutan has exceeded 13,000 BTC ($756 million). The country has followed the path of El Salvador and is actively buying the coin. At the moment, these two countries are among the few that officially support BTC and buy it. Among companies, buying BTC is also becoming an increasingly popular solution. Metaplanet presented a chart of the change in the number of bitcoins they have in relation to each share (in satoshi). According to CEO Simon Gerovich, their goal is to continue to increase the "BTC per share" indicator for the long-term shareholder value of Metaplanet.

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Jerome Powell's key takeaways from the FOMC press conference: - The economy is generally strong; - Our decision today reflects our confidence that labor market stability can be maintained; - Inflation has come down significantly, but is still above our target; - The labor market has cooled and is no longer looking as tight; - We can adjust monetary policy if necessary; - If the economy remains stable, we can slow the pace of cuts. We can also respond if labor market conditions worsen; - There is nothing in our forecasts that suggests we are in a hurry. I do not think we are behind schedule; - We concluded that the 50bp cut was the right call. We will base future decisions on the next meeting; - I am very pleased that we cut the rate by 50bp; - The labor market is strong, and we want to keep it that way. Same with the economy

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The rate data will be released in an hour. At the moment, the situation seems to be negative from all sides. A 25 basis point reduction has already been factored into the price and this will not surprise anyone. A 50 point reduction may immediately lead to a fall rather than a rise in the market, since the US economy is not in order and this factor will only highlight this once again. If the rate remains unchanged or is raised at all, the markets will fall. We will not guess and just wait for the results and the market reaction.

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Microstrategy have gone completely nuts. Microstrategy will issue $700,000,000 in bonds to buy even more BTC. I have already expressed my opinion on this business model, but for the market, this will certainly act as a positive. especially given that September and August were not the best months for BTC and ETH spot ETFs. Judging by the chart from K33 Research experts, after a productive July, investors are mainly withdrawing funds from the corresponding investment instruments.

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Spot ETFs have shown good dynamics over the past week. Last week, BTC spot ETFs showed a net inflow of +$403 million. At the same time, ETH spot ETFs showed an outflow of $12.9 million. The indicators are not outstanding, but the dynamics are returning to a positive direction, which cannot but please. At the same time, the ETH/BTC pair reached a 3.5-year low below 0.04 BTC. The drawdown since the activation of The Merge update in September 2022 was 53%.

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Of course, the dollar is in first place, who could doubt it. The South Korean won is in second place, while the euro is in third place. But with the other pairs, everything is really bad. You can look at the chart yourself. I think the dollar will remain the main trading currency on the market and in the world for a long time.

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L2-blockchain Base shows excellent results It was recently recorded that the Base blockchain is approaching 5 million in terms of the number of daily transactions. At the same time, the size of commissions becomes smaller and smaller, thereby tending to zero. Let me remind you that Base is a layer 2 network and was created to solve Ethereum scalability.

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The SEC's Clownfest Continues. The SEC Says When They Said "Securities" They Never Meant That the Tokens Were Actually Securities The U.S. Securities and Exchange Commission "regrets" classifying cryptocurrency tokens themselves as securities, a court filing says. The admission was made in a footnote to the proposed amended complaint against Binance, which previously listed tokens like SOL, ADA, and MATIC as securities in the lawsuit against the firm.

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BTC network fees hit record lows since 2011. The average transaction fee on the Bitcoin network has fallen to its lowest level since 2011, at 0.00000695 BTC. In dollar terms, that's about $0.35. The decline in network activity has led to a drop in fees. Since the launch of the Bitcoin network, users have paid fees totaling $4.09 billion. By the way, ETH has collected $19.2 billion in total fees.

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In 2023, Tether recorded more profit than BlackRock — $6.2 billion versus $5.5 billion. Tether, being the largest issuer, shows impressive income figures. The company has less than 100 employees, BlackRock has about 20,000. Also, USDT reserves on CEX exchanges have been growing rapidly since August — perhaps these funds will be used for further purchases.

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At 15:30 inflation data. Be careful in the market. Inflation is the first mandate of the US Federal Reserve in making a decision on the rate. Forecast 2.5%. Previous value 2.9%.

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Number of unique addresses on different blockchains: BNB Chain - 469 million Polygon - 459 million Ethereum - 282 million Tron - 256 million Fantom - 194 million Optimism - 163 million Base - 116 million Ton - 64.7 million Arbitrum - 37.9 million Avalanche - 28.5 million Aptos - 26.4 million Sui - 22.5 million Moonbeam - 20.5 million Celo - 15.5 million Linea - 7.9 million As you can see, many blockchains have room to grow. For example, TON is still very far from the top indicators.

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Guys, I'm not very involved in the topic of mining, to be honest, but something became interesting. The cost price of bitcoin before halving was around 16 - 20 (well, there was a big spread, depending on the company, the price of electricity, premises, etc.). The halving took place, the cost price doubled and should be equal to 32 - 40, well, even 50. But why is it equal to $ 71,500?

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I came across another analyst opinion here. According to analysts, American companies will buy $10 billion worth of Bitcoin over the next 18 months — traditional corporate investment strategies rely on fiat and other short-term cash equivalents, which are poor stores of value because they often fail to outpace inflation. Surprisingly, the forecast is more or less reasonable. By the end of 2025, BTC will probably reach $100,000, since everything favors this scenario.

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BTC is not needed globally by anyone. There is such a metric as a Google search for a particular word, which shows the popularity of a given narrative. So, at the global level, interest in Bitcoin on the Internet is at its lowest level since August 2023. Unfortunately, the market is experiencing apathy and nothing has happened all summer except for the systematic fall of the altcoin. Now we can see the final takeout of panic-mongers and a systematic reversal in early October.

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Traders resume sending Ether to exchange wallets Since the beginning of August, ETH exchange balances have been gradually decreasing, according to CryptoQuant. At the beginning of August, it was 19.078 million ETH, and by the end of August it had decreased to 18.538 million ETH. But already since the beginning of September, exchange balances have begun to increase again, which may create a new threat of a reset. ETH is currently trading around $2,400, but if traders resume selling, there are risks of a drawdown below $2,000.

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August saw the lowest cryptocurrency losses to scams since January 2021 (around $4.8 million after $10 million was returned to Ronin Network) However, this result is overshadowed by two scary phishing cases in August, which cost users $293 million

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Over the past weekend, BTC miners sold $154 million worth of BTC. Miners continue to put pressure on the asset and over the weekend alone dumped 2,655 BTC worth about $154 million into the market.

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Everyone is drawing colorful scenarios for BTC growth. Many people, including me, expect the market to grow in November - December of this year. But it is certainly good to believe sacredly, but the situation may also be the opposite. For example, here is a fractal of Covid-19 + trend lines, where you can see the potential for correction below $ 30,000 and, in fact, zeroing out the alt in this case (updating the ATL for all coins). Of course, such a scenario is not very believable, but there is a small probability of this. Do you think such a scenario is possible?

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At the end of August, BTC and the market are showing poor dynamics. Summer has come to an end and we are forced to state that BTC fell by 8.6%, and ETH by 22%. The situation with altcoin is much worse. Autumn and September are ahead, which is a statistically negative month for the market. Your expectations for September: Growth 🐳 Fall 🔥

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