According to data from Alternative. me, the cryptocurrency panic and greed index rose to 22 today, compared to 20 yesterday, and the market is in a state of extreme panic.
After BTC hit a new high, the price began to slow down. On the morning of August 27th Beijing time, BTC had previously broken through $79000 before falling back to around $78700 for consolidation. After a continuous rise, the market did not continue to rise rapidly, and a noteworthy change began to emerge: the price entered a high-level sideways trend. Can funds continue to push the price upwards? The emotional aspect is actually heating up. The Panic Greed Index rose from 65 yesterday to 71, re entering the greed zone. The rise in the index indicates that the market's risk appetite is still strong, but it also means that the sentiment of chasing after the rise is accumulating. If we continue to approach 75 or above in the future, short-term profit taking and redemption pressure may increase. Institutional funding has not significantly stopped at present. BlackRock increased its holdings of approximately 11100 BTC and 132800 ETH in the previous two days, totaling approximately $1.168 billion. Therefore, the more accurate statement at present is not 'institutions can't buy anymore', but institutional funds are still providing support, but prices have reached a point where more incremental funds are needed to continue breaking through. This is also the most noteworthy aspect of BTC today. If BTC can stabilize above $79000, it indicates that the continuation after the breakthrough is still effective, and the sideways trend may only be a digestion after the rise; If multiple attempts to hit $79000 fail to stabilize and trading and fund acceptance weaken, it is necessary to prevent the concentrated realization of profit taking. In addition, the Sandbox cross chain bridge vulnerability resulted in an abnormal issuance of approximately 14.9 billion SANDs, and the situation in the US Iran Strait and the Strait of Hormuz remains an external risk variable for the market. The former affects the risk appetite of the cryptocurrency market, while the latter may affect overall risk assets through oil prices and risk aversion. So today, don't just focus on whether BTC continues to reach new highs, but also on three signals: whether $79000 can stand firm, whether the Greedy Index continues to rise rapidly, and whether institutional funds continue to flow in. The real test after reaching a new high is often not whether one can soar higher, but whether the market has enough funds to catch up after a profit opportunity appears at a high level. Risk Warning: The above is only for market information sharing and data analysis, and does not constitute any investment advice.
According to on chain analyst Ai Yi's monitoring, the Hack VC associated address (0x2a5... 590CF) transferred 21.85 million ENAs to the Wintermute recharge address 4 hours ago, involving an amount of 3 million US dollars, with the current price of ENA being 0.1478 US dollars.
[BDACS Partners with Devall Company to Build Stablecoin Cross-Border Settlement Infrastructure] According to Yonhap News Agency, South Korean crypto asset custody institution BDACS has partnered with Devall Company to construct a stablecoin-based cross-border payment and settlement infrastructure for enterprises. The solution enables exporting companies to send invoices via Cheonggus, while overseas buyers can make payments using stablecoins such as USDT and USDC. BDACS will handle asset custody and the settlement process, converting the funds into Korean won. The two parties plan to integrate payment and settlement data into enterprise ERP systems to achieve automated accounting processes.
A senior Trump administration official stated that the Bitcoin and Crypto Clarity Act will be passed on September 15th. （The Bitcoin Historian）
The State Council of China has submitted a report on the implementation of this year's economic and social development plan to the Standing Committee of the National People's Congress. The GDP growth in the first half of the year was 4.7%, with an increase of 3.6 trillion yuan. Wang Changlin, Deputy Director of CHINA STATE PLANNER, stated that the overall implementation of the plan is good, with growth, employment, prices, and foreign trade meeting expectations. Progress has been made in consumption, household income, finance, social security, environmental work, and food production. The report points out that geopolitical conflicts have an increasing impact on the Chinese economy, leading to differentiated domestic activities, insufficient effective demand, difficulties in the operation of some industries and enterprises, arduous tasks in risk resolution in key areas, and the need to strengthen employment and livelihood support.
