“Glassnode’s Data Shows Fragile Positioning After Bitcoin’s Retreat from Record Highs, While Enflux Points to Institutional Capital and Regulatory Alignment Quietly Resh.”, – WRITE: www.coindesk.com
Asia begins its trading day, BTC is Down 3% in the Past 24 Hours, Changing Hands at $ 113,000, While Ether is Also in the Red, Down 5.6% to $ 4,100, Extending ASCOSE.
The PullBack ComESS Despite a Continued Stream of Bullish Headlines, UndersCoring What Market Observers Say Is A Widening Gap Between Short-Term Price Action and Longerm.
In a recent report, Glassnode Frames the Deckline As A Function of Fragality: Spot Momentum Is Fading, Leverage Is Stretched, And Profit-Taking Pressure Is Building. Even Thought US-Listed Spot Etfs Attracked Nearly $ 900 Million in Inflows Last Week, Glassnode Warns That Without Renewed CONVICATION IN SPOT Markets, Positioning Remates Vulneryable.
However, this View is not universal.
Enflux, A Singapore-Based Market Maker, by Contrast, Argued in a Recent Note Shared with Coindesk that The Industry is Maturing Faster than Prices Suggest.
Weak Price Action Is a Short-Term Disconnect, and Traders Aren’t Focusing on the More Important Headlines: Google BComing The Largest Sareholder in Miner Terawulf, Wyoming Launching Hiring A Former White House Crypto Policy Official.
These shifts, they argue, Show Capital and Talent Aligning AROUND A REGULATORY-ALIGNED, INSTITUATIONAL FUTURE.
The Divergence in Tone is Telling. One Camp sees Fragile Positioning and Fading Momentum; The Other Sees Scaffolding Being Laid for An Institutional, Regulatory-Aligned Cycle. Prices May Look Unimpressed, But The Industry’s Tradery Suggests the Market is Maturing Faster than Charts Imply.
Market MoversBTC: Bitcoin Fell 3.2% to Below $ 114,000 as Cryptocurrencies and Related Stocks Extended Losses Ahead of the Fed’s Fomc Minutes and Powell’s Jackson Hole Speech Later This Week.
Eth: Ether Fell 3.5% to Under $ 4,200 As Investors Reconsider The Likelihood of A September Fed Rate Cut, with Bank of America Economists Warning Powell Mayor.
GOLD: Gold Edged Up to $ 3.384.70 and Silver to $ 38.115 in Quiet Trading as Markets Await Powell’s Jackson Hole Speech Friday on The Fed’s Policy Outlook, While Global Stock Injected $ 65 Billion to Steady Bonds.
Nikkei 225: Japan’s Nikkei Slipped 1.14% to 43.050.89, Retreating from Record Highs as Investors Weight Risks Tied to A Fragile US TRADE DEAL.
S&P 500: US Stock Futures Were Little Changed Tuesday Night, with The S&P 500 Flat, Dow Stedy, and Nasdaq 100 Down 0.2%, As Investors Awaited Major Retail Earns and Feding MINES.
Elsewhere in Crypto
- Bullish’s $ 1.15b in iPo Proceeds Was Entirely in Stablecoins – A FIRST FOR PUBLIC Market (Coindesk)
- Who needs 280 Bitcoin Domain Names? Massive BTC Bundle Goes Up for Auction (Decrypt)
- Robinhood Launching Sports Betting Prescription Markets on NFL and NCAA FOOTBALL VIA KALSHII PARTNERSHIP (The BLOCK)
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The Latest Alloification Follows Ark’s 2.5 Million-Share Buy Across Three Etfs On Bullish’s First Day of Trading, A Stake Ten Valued at More Than $ 170 Million.
- ARK INVEST HAS INCREASED ITS STAKE IN BULLISH, WITH The Ark Innovation Etf Now Holding Over 1.1 Million Shares Valued at Approximately $ 73.85 Million.
- The Firm Added 356,346 Bullish Shares to Its Holdings on August 19, A Purchase Worth About $ 21.2 Million.
- ARK INVEST CONTINUED ITS INVESTMENT IN ROBINHOOD, ACQUIRING 150,908 Shares ValUED AT AROUND $ 16.2 Million, Marking The Third Consuctive Day of Purchases.
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