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Happy Saturday Folks! The struggle is real. Last week Bitcoin was trading around $20,237.26 and right now it's trading at $19,800.31; bears continue to party and dance. Sentiment overall remains incredibly bearish as the continued calls for lower come in. Let's recap the week shall we?
Monday the price of Bitcoin closed at $20,297.99 and some were asking if Bitcoin was an inflation hedge or not. Some were looking for a short squeeze around $20.4K and others thought Bitcoin was oversold and continuing north of $20K; that didn't happen. Analysts were mixed on $BTC Frank Downing and Scaramucci both being quite bullish on their outlook, while Rager and Altcoin Sherpa leaned bearish. Trending news of the day was about Lawyer Roche making false claims against Ava Labs.
Podcast of the Day: The Wolf Of All Streets: These 4 Ideas Are Driving Crypto Adoption | Matthew Roszak, Bloq
On Tuesday the price of Bitcoin closed at $19,796.81 and ancient Bitcoin wallet reactivated another 5,000 BTC, while the price hovered around $20K all day before going under by the end of the day. Analysts were bearish as JP Morgan encouraged folks to sell their Crypto and Bennett warned the bump was a bull trap and he was correct; sorta. Nicholas Merten believed Digital Assets could dip even further than bear market lows. Trending news of the day was Rep. Raja Krishnamoorthi (Congressman - D. Ill) called on crypto exchanges and regulators to account for fraud and scams in crypto.
Podcast of the Day: Untold Stories: Let's Talk Bitcoin with Adam B. Levine
By Wednesday the price of Bitcoin closed at $20,049.76 and Bitcoin held $20K but analysts said BTC open interest left room for "more deleveraging." On-chain activity bled despite hashrate growth, trading volume excluding Binance remained at yearly lows, and short exposure surged to new all-time high. Richard Knight predicts Bitcoin trading between $10-20K for a while. Trending news of the day was once again about Roche and this time filing to withdraw from Tether, Bitfinex and Tron.
Podcast of the Day: Bitcoin Audible: Read_647 - Understanding Decentralization in Bitcoin [Arman the Parman]
Right over the hump on Thursday the price of Bitcoin closed at $20,127.14 and Whale addresses skyrocketed to 6-month high despite bearish sentiments. Long-term holders were currently putting more selling pressure than short-term holders and furthers volume hit a 21-month low in August. However, 62% of all Bitcoin addresses did not sell any $BTC for a year or more despite "Crypto Winter." Analysts appeared to be a bit more bullish than bearish; esp with $ETH. The Trending news of the day was Celsius Network returning 22% of customer funds.
Podcast of the Day: The Wolf Of All Streets: Will American Politicians Ever Embrace Crypto? | Dennis Porter, Satoshi Action Fund
At the end of the week on Friday the price of Bitcoin closed at $19,969.77 and Bitcoin struggled to stay above $20K. A triple-bottom formation combined with a fundamental crossing on-chain could be the catalyst for a big move up, which would result in $BTC going back to $23K. Traders' outlook is so bleak that some Analysts see a buying opportunity. Yet, some believes $15,000 is where Bitcoin could drop thanks to the jobs report. However, Bitcoin must break $25K threshold for any chance of a recovery. Trending news of the day was Cardano's Vasil Hard Fork launch date being set for Sep 22.
Podcast of the Day: What Bitcoin Did: The Right to Bitcoin Privacy with Max Hillebrand
WEEKEND NEWS
- Here are the three biggest cryptocurrency stories of the past week (TB)
- Here’s What Tends To Happen to Crypto Markets in the Month of September, According to Top Analyst (TDH)
- Bitcoin market dominance plumbs 4-year lows as BTC price ditches $20K (Cointelegraph)
- The Bitcoin bottom — Are we there yet? Analysts discuss the factors impacting BTC price (Cointelegraph)
- Are Bitcoin transactions anonymous and traceable? (Cointelegraph)
- Ethereum Derivatives Trading Volume Surpasses Bitcoin (BIC)
- Ethereum network adds over 70,000 new unique addresses daily ahead of ‘The Merge’ (Finbold)
- Ethereum (ETH) TVL Loses More Than $2.9B as Merge Approaches (BIC)
- Ethereum (ETH) Post-Merge Economics Analyzed by Expert (UToday)
- Surge or purge? Why the Merge may not save Ethereum price from 'Septembear' (Cointelegraph)
- Ethereum Staking Pools: Who Runs the Largest Ones? (Decrypt)
- Ripple Shovels 100 Million XRP to Unknown Wallet After Selling 30 Million One Day Earlier (UToday)
- Cardano Sets New Milestone in Native Tokens Issued Following On-chain Growth in August (UToday)
- Cardano Among Top 3 Actively Developed Projects as Vasil Nears: Details (UToday)
- Cardano (ADA) DeFi Ecosystem Has One Major Advantage Over Its Competitors: Community (UToday)
- Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days (NewsBTC)
- Adjusted transaction volume of stablecoins soared almost 33% in August (TB)
- Ukraine’s Tech Retail Giants Techno Їzhak and Stylus Begin Accepting Bitcoin (Crpytoglobe)
- The world’s securities law watchdog is scrambling to create ‘common standards’ for crypto (TB)
- FOLLOW UP: Binance identifies KyberSwap hack suspects, involves law enforcement (Cointelegraph | TB | BIC)
- CryptoCom Backs Out of Sponsorship Deal with UEFA’s Champions League (CryptoPotato)
- One Does Not Simply Destroy DAI: Maker Founder's 'Endgame' Proposal (Decrypt)
