“Predict Markets Are Flashing Red Even as Institutions Keep Doubling Down on BTC and ETH.”, – WRITE: www.coindesk.com
As East Asia Begins Its Trading Day, BTC Is Trading At $ 116.263, Down 1.1% on the Day and 2% Lower on the Week, Accounting To Coindesk Market Data, While Eth SITS at $ 4,3 Still Up 2.6% Weekly.
The Coindesk 20 (CD20), An Index Tracking the Largest Crypto Assets, is Down 2.4%.
Polymarket Odds Suggest Traders Are Bracing for Weakness Through the End of August. The MOST LIKELY OUTCOME FOR BTC IS NOW A CLOSE BLOW $ 111,000 with A 34% Probability, While Eth’s Highest-Weightd Scenario Is a Finish Near $ 4.800 AT 43%.
Enflux, A Singapore-Based Market Maker, SAID The Market is Being Pulled in Two Directions.
“The Market Remains Caunght Between Strong Underlying Institutional CONVICATION, HIGHLIGHTED BY Strategy Inc.’s Addrational Follow-TRUGH, ”IT Wrote in a Note to Coindesk.
Enflux Pointed to Vaneck’s Reiterated $ 180,000 Year-End Bitcoin Target as evidence that Institutes Are Positioning for Continination, Even As Retail-Favored Narratives Such Sec’s Delays on etf Approvals.
Solana Remains An Exception, Enflux Wrote, with “Quiet Strength” from Its Dominance in USDC Transfers and Pumpfun’s Share of New Token Issuance.
Still, Derivatives Positioning Shows Caution.
QCP Reported in a Recent Market Update that Perpetual Funding Rates Turned Negative Over The Weekend, A Setup that Preceded Earlier PullBacks, And Options Skews Now.
The result is a market that looks structively Supported at the top But Tactical Defensive integ Higher-Qan-Expected Inflation and A White House that Continues to Challenge the Fed’s Neutrality.
With Crypto Search Interest at a Four-Year High and the Genius Act Sailing Through Washington, and now in the Hands of Regulants, The Foundation for a Broader Rally Is Still Being B.
But for now, predict Markets and Price Action Suggest CONVICATION IS CONCENTRATED AT TOP, While Flows Remain Selective.
(Coindesk)
Market MoversBTC: Bitcoin Swung Between $ 114.993 and $ 117.620 On August 18, with Volumes Far Awave Average as Traders Digated Treasury Secretary Scott Bessent’s Clarification. Budget-neutral acquisitions ratioer than Direct Government Purchases As Well As Anticipated the UpComing Jackson Hole Summit Where Jereme Powell Is Expert
Eth: Ethereum Fell 3% to $ 4.330.61 On Aug. 18 AMID HEVY VALATCHY AND REPEATED Resistance Near Record Highs, Even As US SPOT ETFS DREW $ 3.71 Billion of Inflows in Stark Contrast to Ongoing Retail Selling.
GOLD: Gold Hovered Near $ 3,333– $ 3.394 An OUNCE MONDAY, RISING IN EARLY US TRADING AS POSION-SQUARING SET IN AHA While Traders ALSO Weighed US-UKRAINE DIPLOMAKY AND BROADER HAPING HAPING HAVEN DEMAND.
Nikkei 225: Asia-Pacific Stocks MOSTLY SLIPPED TUESDAY AHEAD OF WHITE HOUSE TALKS BETWEEN TRUMP, ZELENSKYYY AND EUROPEAN Leaders, Thought Japan Nikkei 225 Edged Up 0.1%
S&P 500: US Stocks Were Little Changed Monday as the Summer Rally Showed Signs of Fatigue Ahead of Fed Minutes, Major Retail Earnings, and Jerome Powell’s Jackson Hole Speech Later This Week.
Elsewhere in Crypto
- US Treasury Department Starts Work on Genius, Gathering Views on Illicit Activity (Coindesk)
- After Attacking Monero, Qubic Sets ITS SIGHTS ON DOGEIN -HERE’S WHY (DECRYPT)
- Michael Saylor Eases Stock-Sale Limits As Bitcoin Premium Falls (Bloomberg)
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Shares Are Lower by 11% on Monday with An Analyst Noting Naka’s Convertible Note Terms Were Somewhat More Stringent than Those Afforded to Michael Saylor’s Strategy.
- Kindlymd Late Friday Closed On A $ 200 Million Convertible Note Offing, with Proceeds Intended to Buy More Bitcoin.
- The Convertible Notes have no interest for the First Two Years, the 6% Annual Rate.
- Yorkville Advisors Can Convert Into Equity at An Initial Price of $ 2.80 Per Share, Raising Dilution Concerns.
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