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🚀 GoMarket Weekly #26🚀

We’re excited to bring you the latest edition of GoMarket Weekly with insights from Mike Ermolaev, our resident crypto expert! This week’s edition covers Bitcoin’s price action, CEX liquidation data, Ethereum’s inflation concerns, and the latest regulatory updates shaking up the market. Read on for all the details and make sure you don’t miss out on the full analysis! 📈

🔍 Bitcoin’s Trading Range and Market Outlook🔍
This past week, Bitcoin's price fluctuated between $56,004 and $59,804, continuing its volatile journey 📉. September is historically a tough month, but October has consistently delivered, with Bitcoin posting an average gain of 22.9% in eight of the last nine years. Could this be the perfect time to prepare for a bounce-back?

📉 The Erosion of CEX Liquidation Data Transparency 📉
K33 Research has raised concerns about the reliability of liquidation data from major centralized exchanges. It appears that these platforms are reporting fewer liquidations than are actually happening, which skews risk assessments for traders. Could this lack of transparency be affecting market sentiment?

📊 Institutional Outflows and Labor Market Slowdown📊
According to CoinShares, the past week saw a $305 million outflow from digital asset investment products, largely due to rising interest rate expectations following strong macroeconomic data. However, the U.S. labor market is cooling down, with job openings hitting their lowest levels since January 2021, which has retail investors increasingly betting on rate cuts.

📈 Short-Term Bitcoin Holders Under Pressure📈
Glassnode reports that short-term Bitcoin holders are facing heavy unrealized losses, making them more vulnerable to sell-side pressure. Although long-term holders are still in a relatively good position, the market remains sensitive to further downside risks. Will we see heightened volatility in the weeks to come?

🌐 Ethereum’s Inflation and BLOB Object Concerns 🌐
The Ethereum network is grappling with inflation issues due to the introduction of BLOB objects post-Dencun hard fork. The community is split over how to handle this—should transaction fees be increased, or can Layer 2 networks maintain low costs while securing Ethereum’s future? 🤔

🛡 Regulation and Adoption: SEC vs. FTX and Crypto Donations🛡
On the regulatory front, the SEC has signaled it may challenge FTX creditor repayments made in stablecoins, adding more uncertainty to the crypto landscape. Meanwhile, Kamala Harris’s presidential campaign has started accepting crypto donations via Coinbase Commerce, marking a new level of mainstream crypto adoption. 💼

👉 Get the full breakdown and analysis by reading the complete report 👀

Stay tuned for more updates next week! 📲

#GoMarketWeekly

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www.tg-me.com/us/GoMining News/com.gmt_token/3189

6.59K viewsSep 6, 2024 at 14:04

🚀 GoMarket Weekly #26🚀

We’re excited to bring you the latest edition of GoMarket Weekly with insights from Mike Ermolaev, our resident crypto expert! This week’s edition covers Bitcoin’s price action, CEX liquidation data, Ethereum’s inflation concerns, and the latest regulatory updates shaking up the market. Read on for all the details and make sure you don’t miss out on the full analysis! 📈

🔍 Bitcoin’s Trading Range and Market Outlook🔍
This past week, Bitcoin's price fluctuated between $56,004 and $59,804, continuing its volatile journey 📉. September is historically a tough month, but October has consistently delivered, with Bitcoin posting an average gain of 22.9% in eight of the last nine years. Could this be the perfect time to prepare for a bounce-back?

📉 The Erosion of CEX Liquidation Data Transparency 📉
K33 Research has raised concerns about the reliability of liquidation data from major centralized exchanges. It appears that these platforms are reporting fewer liquidations than are actually happening, which skews risk assessments for traders. Could this lack of transparency be affecting market sentiment?

📊 Institutional Outflows and Labor Market Slowdown📊
According to CoinShares, the past week saw a $305 million outflow from digital asset investment products, largely due to rising interest rate expectations following strong macroeconomic data. However, the U.S. labor market is cooling down, with job openings hitting their lowest levels since January 2021, which has retail investors increasingly betting on rate cuts.

📈 Short-Term Bitcoin Holders Under Pressure📈
Glassnode reports that short-term Bitcoin holders are facing heavy unrealized losses, making them more vulnerable to sell-side pressure. Although long-term holders are still in a relatively good position, the market remains sensitive to further downside risks. Will we see heightened volatility in the weeks to come?

🌐 Ethereum’s Inflation and BLOB Object Concerns 🌐
The Ethereum network is grappling with inflation issues due to the introduction of BLOB objects post-Dencun hard fork. The community is split over how to handle this—should transaction fees be increased, or can Layer 2 networks maintain low costs while securing Ethereum’s future? 🤔

🛡 Regulation and Adoption: SEC vs. FTX and Crypto Donations🛡
On the regulatory front, the SEC has signaled it may challenge FTX creditor repayments made in stablecoins, adding more uncertainty to the crypto landscape. Meanwhile, Kamala Harris’s presidential campaign has started accepting crypto donations via Coinbase Commerce, marking a new level of mainstream crypto adoption. 💼

👉 Get the full breakdown and analysis by reading the complete report 👀

Stay tuned for more updates next week! 📲

#GoMarketWeekly

BY GoMining News