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We are 180 days into a correction since we made an ATH in Bitcoin and market sentiment is worse than when BTC was at 15K.

Ethereum has lost nearly $250 billion in market cap over the summer, even with ETFs coming to market.

And what happened?

> Massive exits and sales by Grayscale.
> Massive MT.GOX distributions.
> Mass distributions from the United States.
> Germany selling +50,000 BTC.

And what is to come?

> US interest rate cuts.
> Gradual increase in global liquidity.
> United States elections.
> FTX Refunds (+$16B).

And all this with stablecoins reaching all-time highs.

Is this the end? Are we all going to die?

I don't believe it.

For me nothing has changed.

Nobody said the bull market was going to be easy.

The best, for me, is yet to come.

You already know what happened next, the times when the feeling was as shattered and terrifying as the one we are experiencing now.

The difficult moments are what separate babies with poop on their butts from legends.

Everyone is very pro, everyone is very cocky, very gangster and very brave until it is time to buy the dip when at all hours they say that we are going to visit lower areas and everyone is terrified and with their balls in their throat.

We've all heard "If you come down to X area I'm going to put my house in your house" then they come down and shit their pants and don't buy.

It seems like a meme, but it is not.

There is something that will never change.

> The vast majority of people will sell out of fear.
> The vast majority of people will buy out of euphoria.

And it is certainly the fastest way to lose money in this market.

Sorry, I didn't make up the rules of the game.

The road will be long and there will be monsters and corpses along the way, just try not to make it yours.

The bull market is not over.

They just want to steal your magic internet coins so that when they spend billions on marketing, they can buy them back at an exorbitant price.

Nothing has changed.

Patience, conviction, buy the dip & chill 🏝️

📆 On September 6, 2021, El Salvador announced the acquisition of its first 200 bitcoins!

3 years to the day, the country holds nearly 5,900 and continues to buy 1 BTC daily 🇸🇻

I have found an asset in the market #crypto , BRUTAL to go LONG (Futures) or BUY (spot) for the next 6-9 months. On a technical level, it is clearly in a rebound zone and it is very possible that it will soon start a bullish rally in which it multiplies its value by X4 or X5.

If we reach 20 LIKES on this post, I will publish an analysis of the asset.

Opensea's homepage in 2018 - a great example of a first-mover in Web3.

Early entrants often define the standards and protocols for how things should be done in a new space. A lot of names could be mentioned to illustrate this: Uniswap, Aave, Yearn, Chainlink...

OpenSea leveraged network effects to become the dominant marketplace for NFTs, a fading narrative in 2024.

Hey Founder, what's your first-mover advantage ?

Source: http://web.archive.org/web...

🚨 BREAKING: We started on Wednesday with #Bitcoin at 56k after having touched 55k during the early morning 👀‼️

As the feeling continues to lean towards fear 🤔

🚨 Vitalik just moved $2 million worth of ETH before selling nearly $500 ,000

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temisolana.itch.io

Solana recorded nearly $20 million in NFT sales last week, a 10.75% growth.

$SOL becomes the biggest gainer among the Top 10 coins by market cap.

Now at $158 , up nearly 10% in the last 24 hours.

Daily Memecoin Recap - August 20

All Eyes On Tron

Justin Sun - $trx 's Final Boss
$sundog -> hit $250m , rumours that it was launched by Justin Sun's team, a lot of big influencers got in on this early, launched their own tron trading bot "sunbot"
$wukong -> hit $32m ,
justinsuntron changes his pfp to wukong & tweets about it
$suncat -> hit $23 .5m
$sunwukong -> hit $13 .5m
$sunned -> hit $10m , organized push, "get sunned"
- justinsuntron has been bull posting Tron heavily
- People have been bridging over from sol recently to follow the hype
- justinsuntron launched sunpump, which is essentially pumpfun on the tron blockchain

More Tron Cooks
$fofar -> hit $43 .9m,
matt_furie inspired coin one of the leaders on Tron
$biao -> hit $6m , a popular Chinese meme, the same coin exists on $sol
$troge -> hit $5 .5m, tron $doge
$blake -> hit $4 .7m, cartoon character
$tbull -> hit $4 .6m, tron bull
- There has been many multi-million runners this past week
- Trading on Tron is refreshing and is a lot less pvp then sol at the moment

Some Sol Cooks
$coby -> $1 .7m to $5m (2.94x), dog meme
$glep -> hit $500k , cool art
$hff -> hit $325k , "Holy Frog Father"

Very low liquidity on solana today

The whole timeline is bridging over to Tron, it's a much more PvE environment

Everyone's wondering one thing: How long will the Tron craze last?

The hype on Tron is completely dependent on Justin Sun's next moves. Ultimately I do believe that liquidity will rotate back to $sol

Thoughts on Tron?

BTC, a fix above 60,000 did not come out. But this is only a local movement, let me remind you that Bitcoin is inside the pattern, and the main growth will go only after its breakdown. Bitcoin withdrawal per day was sufficient in % ratio based on volumes. The market is waiting for Friday, the speech of the head of the US Federal Reserve.
We read the local setup in the post above. Still relevant.

the withdrawal from the exchanges exceeds the input - 23%, 3,500 btc

Altcoins, approaching the 1st significant downward trend in altcoin capitalization. A breakdown and a break above each trend will give an impulse to altcoins. If you look at the last significant correction, which was in early August. Many altcoins have grown, for example, FTM, which we bought on the drain, cost 0.2611, now 0.4000 - The difference is significant. There is no endless correction, let me remind you that for many altcoins we are at the beginning of a new cycle!

https://www.tradingview.co.../

Daily Memecoin Recap - August 18

Did you print or did you touch grass today?

Blinks Launch
$bgg1 -> hit $6 .9m blinks_gg

- Utility project

Davinci Community Coin
$early -> $115k to $2 .2m (19x), 20% of supply sent to Davincij15

Reddit Dog Pushes Over $10m
$snoofi -> $2m to $11 .5m (5.75x), $r /snoofi, community is on reddit, original idea
$limmy -> $50k to $450k (9x), $r /limmy, reddit cat
$reddit -> hit $900k
$mcdog -> hit $630k , "minecraft dog", dev made a minecraft server for the coin
$r /ape -> hit $445k , "reddit ape", CTO

Dog Meta
$ken -> $90k to $1 .95m (21x), $doge 's owner's first dog, KOLs leaked info
$joey -> hit $525k , dog meme, interesting people involved
$yuko -> hit $500k , shiba inu, CTO

More Cooks
$bub -> $2 .3m to $30m (13x from the low), good CTO team, viral cat meme
$taddy -> $600k to $3 .3m (5.5x), "Daddy Trump",
cobratate's $daddy + Trump
$phat -> hit $2 .1m, "party hat", RuneScape
meme, 73.5% of supply burned
$4chan -> hit $800k , "FSJAL"
$roastie -> hit $310k

Volume is going to pick up tomorrow as the weekend comes to an end

Really liking this reddit meta, brings some freshness to the market

🚨 IMF calls for 85% electricity tax hike for cryptocurrency miners, AI data centers.

They estimate the environmental impact of crypto and AI at 2% of global electricity consumption and nearly 1% of global carbon emissions.

According to them, increasing electricity taxes for crypto miners could reduce global emissions while bringing in billions of dollars in revenue for governments.

"Such a levy would increase annual public revenues by $5 .2 billion worldwide and reduce annual emissions by 100 million tonnes around Belgium's current emissions."

For AI data centers, a targeted tax on their electricity consumption should be set at.032 per kilowatt-hour, or.052.

“It’s slightly lower than crypto because data centers tend to be in places with greener electricity. That could bring in as much as $18 billion a year.”

📊 Nearly 40,000 borrowers used aave last week, a new weekly record.

⚖️ Crypto influencers in the crosshairs after FTC bans fake likes and followers.

Indeed, crypto influencers will face heavy fines from the United States Consumer Protection Agency.

The regulation could come into effect as early as October and prohibits anyone from “selling or buying false indicators of influence on social media.”

https://x.com/robertfreund...

🫶 Vitalik Buterin said that he donated all the "Animal Coins" received over the past year to charity.

In total, nearly $530 ,000 was sent to Effective Altruism Funds Animal Welfare Fund.

Vitalik added that he would prefer these tokens to be sent directly to charities.

https://x.com/vitalikbuter...

🚨 Highlight of the interview between Elon Musk and Trump:

👉 The interview began with Elon Musk discussing a massive DDoS attack that severely disrupted and delayed the live broadcast, originally scheduled for 8 p.m. Musk said the incident clearly revealed the strong opposition to President Donald Trump's speech:

🔹 "This massive attack shows that there is a lot of opposition to people simply hearing what President Donald Trump has to say."

🔹 Elon Musk then found it fascinating that Thomas Crooks chose the most obvious location for an assassination attempt, although no one anticipated it.

🔹 “If the goal is to assassinate, what would be your favorite place? This building. This building would be number one,” Elon Musk remarked. Donald Trump agreed: “That would have been the most appropriate place.”

👉 Elon Musk then expressed his admiration for Trump's reaction to an assassination attempt. He praised the president's determination not to be defeated by this dramatic event, but to continue to fight with a firm will and a spirit of defiance.

🔹 “Your actions following this assassination attempt have been truly inspiring,” said Elon Musk.

👉 The conversation then turned to politics, with Donald Trump voicing scathing criticism of Vice President Kamala Harris for what he called blatant hypocrisy.

🔹 Donald Trump accused Harris of plagiarizing one of his proposals, that of abolishing taxes on tips, while at the same time supporting increased IRS surveillance of citizens' tips. He denounced this inconsistency by declaring: "These people are FAKES", highlighting the contrast between past actions and current positions.

🔹 Donald Trump recalled that the previous administration had hired 88,000 new IRS agents to closely monitor tips received by waitresses and carts. According to him, this policy was mainly aimed at increasing surveillance and imposing additional burdens on workers in these sectors.

🔹 However, Donald Trump pointed out that Harris had recently adopted his proposal to eliminate tip taxes, which he said illustrated political opportunism. He accused Harris of changing her position in response to political pressure, saying that the move was designed to improve her image and gain political advantage, while remaining at odds with the policies she previously supported.

👉 Elon Musk then expressed grave concern about the future of the United States if current border policies continue.

🔹 "I'm not sure we'll have a country anymore if open borders continue for four years," he warned.

🔹 Donald Trump added that if Kamala Harris were elected, it could lead to the arrival of 50 to 60 million people from various countries around the world.

🔹 “Inflation comes from government overspending because checks never bounce when they are written by the government,” Musk explained. He suggested the creation of a “government efficiency commission” to review and reduce wasteful spending, noting that interest payments on the national debt have now exceeded the defense budget, a situation that demands immediate action.

👉 Finally, Elon Musk addressed the subject of censorship, expressing harsh criticism towards Thierry Breton, the European Commissioner, whom he accuses of having tried to censor his conversation with Donald Trump.

🔹 Elon Musk referred to Breton's warning, who had said: "With a larger audience comes greater responsibility." This statement was perceived by Musk as an attempt to limit freedom of expression, which prompted him to react strongly.

🔹 To express his displeasure, Elon Musk shared a provocative meme addressed to Breton, asking him to “take a big step back and literally fuck off.” This reaction underlined his firm opposition to any form of censorship, especially when it seems to target freedom of expression on public platforms.

👉 Elon Musk then highlighted the way Donald Trump had handled freedom of expression during his first term.

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⛏️ Satoshi-era Bitcoin miner moves 250 Bitcoin worth nearly $14 million to new wallets

An analysis of the miner's blockchain data shows that their initial mining reward of 250 BTC was worth $28 ,080 when it was mined in May 2013

⚖️ A company specializing in the recovery of funds following scams #crypto , scams its customers.

On August 5, the Department of Homeland Security reported that an investigation by its New York task force had resulted in charges against Michael Lauchlan, who ran Coin Dispute Network (CDN), a fraudulent crypto asset recovery business.

Lauchlan allegedly kept the fees and, in some cases, extracted additional ETH from nearly 175 customers, using false promises and fake blockchain tracing reports.

This is the first time a cryptocurrency recovery site has been shut down by the Manhattan District Attorney's office.

"Michael Lauchlan allegedly exploited his clients' lack of experience in the cryptocurrency industry and in return defrauded them of thousands of dollars in fraudulent services and stolen assets," the investigator said

https://cointelegraph.com/...

Weekly Outlook Charts: August 5-9:

#DXY Despite the volatility, the weekly time frame still shows bearish divergence. Hence why i think we will still continue on the leg down to 96.9 as forecasted many months ago. Nothing has changed here.

Weekly: https://www.tradingview.co.../

Daily: Solid rejection off 106/107 level instills confidence of further downside to target.

https://www.tradingview.co.../

🎯Target at 97 remains.

Doesnt lower DXY mean gains for risk assets like crypto? Not quite..

Where I was wrong about DXY and why: Historically speaking, DXY strength correlates well with economic activity. A strong dollar is good for markets because it signals we are headed in the right direction. Economy > earnings > stock prices. However, more recently as we've seen in 2022 and 2023, a stronger dollar had a negative affect on equities - mainly risk assets such as cryptos. This was because of deleveraging of global liquidity in the form of quantitative tightening. Interest rates were climbing at a record pace to stop inflation, while making the risk free rate (bond yields) more rewarding than most high growth companies. Growing a company became much more difficult when compared to low rate environments. Good news was bad news for the market.

The market reaction of recent economic data indicates a possible turning point for bad news being bad for the market. So even though , DXY is still on track to its forecast from months prior, risk assets may not perform as expected. We must look at other factors outside of DXY strength - as I normally do - to gauge whether upside on cryptos are worth while...

Yield Curve Inversions:
For the first time since June 2022, the yield curve has hit 0%. After spending a record time inverted, there are signs the yield curve is finally re-inverting back to normal. The re-inversion usually causes the most damage to markets as a recession hits, and growth stagnates.

#US10Y
Below shows the yield curve vs the S&P 500.
https://www.tradingview.co.../

Since 1990, there has been a 4/4 probability of market declines and recession proceeding the re-inversion.
For data not shown on Tradingview, there were 2 outliers in 1980 and 1982 where the market nearly bottomed as it re-inverted (https://fred.stlouisfed.or...)

However, the last two re-inversions still had the market increase for the proceeding 24 weeks (5-6 months). This is very important information. If this cycle plays out like the last 2, the markets might still crawl higher until Jan 2025.

#US10Y
Below shows the yield curve vs gold.

https://www.tradingview.co.../

🎯Target for 3000

As the yield curve re-inverts, it presents an opportunity for safe haven assets like gold to outperform. The only outlier was 1980 and 1982 when gold had already increased 800% in the few years prior due to Fed Volcker's era of runaway inflation.

Evidenced by the inverted yield curve's track record of predicting recessions, the Sahm Rule was also triggered on Friday's unemployment data. Since 1950, the Sahm Rule was able to predict a recession 10/11 times (91% chance). Every time it did predict a recession, it did so within 4 months.

Coincidentally, This time frame fits quite nicely with the 24 weeks of upside proceeding the re-inversion before the start of a bear market

Nib dictionary:

1. Nibblet: A tiny piece of the NIB pie.

2. Nib-sters: The coolest chicks in the crypto coop.

3. Nib-ble: When you're just pecking at the market.

4. Nib-rarian: Organizing all the NIB knowledge.

5. Nib-torious: The most famous chick in the game.

6. Nibsterious: The mystery behind why this chick is so frightened.

7. Nib-ergized: Ready to flap those wings and take on the market!

8. Nib-iquity: The state of being everywhere in the meme coin world.

9. Nib-errific: When your NIB investment finally takes flight.

10. Nib-zilla: When the tiny chick becomes the biggest beast in crypto.

11. Nib-stitute: When you swap out one meme coin for a better chick.

12. Nib-busters: Taking down all those FUDsters.

13. Nibfluence: The power of the chick over the crypto community.

14. Nib-citement: The thrill of watching your NIBs grow.

15. Nib-servation: Keeping a close eye on your chick’s nest.

16. Nib-accino: The coffee break you take while watching the charts.

17. Nib-compoop: Someone who sells their NIBs too early.

18. Nib-ocalypse: When all the NIB holders go wild at once.

19. Nibstitution: The new chick on the block, ready to replace the old guard.

20. Nib-ified: When you’ve gone all in on NIB.

21. Nib-chael Jackson: Moonwalking through the crypto market.

22. Nib-sanity: When NIB’s price spikes out of nowhere.

23. Nibvengers: The team of NIB heroes ready to save the market.

24. Nib-solutely: When you’re 100% certain this chick is the one.

25. Nib-ception: A chick inside a chick, inside a meme coin dream.

26. Nib-stronaut: Ready to send this chick to the moon.

27. Nib-ergreen: A meme that never goes out of style.

28. Nib-and-dime: When you’re just picking up a few more NIBs.

29. Nib-ling: A baby chick, or someone just starting with NIB.

30. Nib-casso: When your chick doodles become priceless crypto art.

31. Nibstitute teacher: The chick teaching you how to trade.

32. Nibba Fett: The bounty hunter of meme coins.

33. Nib-blebee: Buzzing around, collecting NIBs.

34. Nib by nib: Slowly stacking your fortune, one chick at a time.

35. Nibberoni: A little bit of NIB in every bite.

36. Nibviously: It’s clear NIB is the next big thing.

37. Nib-a-lanche: When NIB takes over the charts.

38. Nib-spresso: A strong shot of NIB to start your day.

39. Nib-ulation: The jubilation of seeing your NIB investment soar.

40. Nib-and-beyond: When you’re ready to take this chick to the stars!

Daily Memecoin Recap - August 5

Market had a small bounce today

Too early to get excited, this could just be a relief pump, we need to see more follow through

Wrapped Meta
$wDOG -> hit $4 .34m, top holder was a whale (with $1 .5m+), "wrapped dog", meme referencing wrapped coins ( $wBTC , $wETH , $wSOL , etc. )
$wCAT -> hit $307k , beta to $wDOG
$wPEPE -> hit $157k , wrapped pepe

Slerf Team Confirms CTO rumours
$oodles -> $1 .7m to $12 .7m (7.47x)
- They've been teasing at a CTO ( $slerf team)
- People had been speculating that it would oodles
- Today they confirmed it
- Typical huge pump on the news, and major crash a couple minutes after (since there's nothing to look forward to anymore)
- Currently sitting at $3 .5m

Play On Letters
$btw -> $1 .2m to $6 .44m (5.36x), banana taped to a wall meme
$wsb -> hit $400k , "We're So Back", after market bounce today
$pac -> hit $280k , "Post Ape Clarity", funny meme

Dog Meta
$bane -> $894k to $8 .45m (9.45x), CTO, crashed from $4m last night down to $900k today & ran even higher to $8m +, pushed by influencers
$ares -> hit $500k , wolf meme
$png -> hit $250k , dog with a png background

More Cooks
$retardio -> $48m to $94 .5m (1.96x)
$helen -> $310k to $2 .85m (9.19x), CTO
$frank -> $141k to $943k (6.68x), CTO
$bunne -> $30k to $830k (27.6x), CTO
$walz -> $160k to $870k (5.4x), redacted GovTimWalz
, pumps as KamalaHarris
narrows down her VP choices
$mici -> hit $770k , $michi beta
$anon -> hit $340k , bunny meme

A lot of higher market cap coins have wicked and began to see some green

Would like to see continued push here to confirm this isn't a dead cat bounce

BTC, the upward medium-term trend has been broken, it will be fixed today. But it is already clearly visible that it will be. Only the pattern remains of the medium-term movement, see the chart. This pattern is bullish! Within this pattern, the corrections were 22-25%. Tonight, it has already peaked at the last touch at 25%. At the moment, from the point of view of technical analysis, nothing terrible has happened. Correction within the pattern from the upper border to the lower one. And globally, Bitcoin is still in an upward movement for the long term. 3 Uptrend, from the bottom. Bearing this in mind, the correction occurred at low volumes. The rebound will be significant, at least inside the pattern. His first target is at least 57,000.

withdrawal from exchanges exceeds input - correlation
Small volumes!

Altcoins, against the background of the correction of Bitcoin with the growth of its dominance, Altcoins sank significantly. And many have come to the lower level of the crypto currency flat, which is more than two years old. This is a strong enough support, and such a chance should be used. Which is exactly what I'm going to do.

https://www.tradingview.co.../

FEAR AND GREED INDEX

In recent days, many crypto-assets have slipped in value very well. In a matter of days, the market has slipped from positive to fear zone, which is clearly visible in the fear and greed indicator. People get greedy when the market goes up and this leads to the formation of FOMO (lost profit syndrome). In addition, many people often sell their coins by reacting irrationally to red exchange rate numbers.

As a rule, the ideal place to buy is the zone of extreme fear, and the ideal place to sell is the zone of extreme greed. Take note of the indicator

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The summary of the news #crypto and markets

1) Powell (FED) leaves rates unchanged, no pivot decided, possible in September but reserves the possibility of acting until early 2025 if necessary

2) Senator Cynthia Lummis submitted her bill to make #Bitcoin a store of value alongside gold

3) Gold hits a new ATH close to $2 ,500 per ounce

4) According to several technical analysts $BTC is still in downtrend (lower high point and lower low point) which could lead it to a new low point in August around $48 -50k if the current supports do not hold

5) The results of META and Schneider Electric are good

6) MtGox BTC continues to be distributed while whales accumulate 600,000 BTC changed hands between $66k and $67k

7) GrayScale continue to sell their ETHE at a very sustained pace

8) Yesterday the inflows-outflows were just in balance for BTC and net negative again for ETH

9) The Hashrate of #Bitcoin at 2% of its ATH has recovered almost the entire period of capitulation of miners

10) Tether published their results, they generated 5.2 billion profits in the last quarter

11) Nancy Pelosi bought thousands more Nvidia shares

12) General activity (on and off chain metrics) around DeFi has increased sharply in recent weeks

13) UAE residents now have the ability to trade crypto directly from their bank account

14) Inflation rose by 0.1% in the Euro zone from 2.5 to 2.6%