It was a troubled week: What paid the low price? star-news.press/wp

Welcome to the MORINING Asia Pacific summary – your primary digestion of encryption developments overnight to form regional markets and global feeling. On Monday’s edition is the conclusion last week and the expectations of this week, which Paul Kim gave you. Get green tea and see this space.

Last week, the Bitcoin price saw a decrease of approximately 4 %. Although this is not uncommon, the volatile encryption currency is not poorly, it is certain that it is worried for investors who have seen the high prices over $ 120,000 only two weeks ago, just to see it returning to the level of $ 100,000.

Whale ripple effect

What prompted this sudden stagnation? A closer look reveals an attack with two parts of a whale and a faltering stock market.

The first trigger for low price bitcoin has long been. According to the analysis platform on the Lookonchain series, this “whale” held more than 100,000 bitcoins.

Last Monday, they suddenly started selling their properties on exchanges such as liquid hyperlinks and switching to ETHEREUM (ETHEM). This sale continued over one day, causing bitcoin drop from about $ 114,000 to $ 108600.

Fortunately, once the cause is determined as one -time event, the market settled and began to recover. By Thursday night, Bitcoin had found up to 113,500 dollars, which is approximately the starting point before the decrease.

Amnesty International shares reduce the broader market

Just as Bitcoin was on the declared, a new unexpected threat appeared. AI and Data Center companies, which was a major driver for the rise of the stock market in the United States throughout the year, which issued disappointing Q2 profits reports. Reports were killed by anxiety about the height of debt and the decline in profitability.

• Coreave (CRWV) witnessed the shares decreased by 33.1 % after the Q2 report.

• Marvel Technology (MRVL) decreased about 19 % after market expectations in the data center.

• Even the NVIDIA market (NVDA), although the Q2’s standard revenue was not fortified, was not fortified, as it decreased by 3.32 % with the spread of negative feelings.

This decrease in artificial intelligence shares led to a 1.32 % decrease in NASDAC, which is the most severe decrease since the list decreased on the first of August. Because Bitcoin has shown a significant association with the Nasdaq Stock Exchange since June, its price has decreased by 3.72 %.

This sequence of events shows the connection of the origins of the risk today.

What is the following for Bitcoin?

With bitcoin struggle, market expectations are mixed. Some analysts remain optimistic, expect a rapid recovery, while others fear a decrease in a decrease to the level of $ 100,000.

Many expect the price to find about $ 107,000, but some pessimists warn against a deeper correction to $ 92,000 if the recession is condensed.

This pessimism stems from the last bitcoin deficiency in momentum compared to Ethereum, which has received more interest in the market. Despite a similar decrease by 6.31 % last week, Ethereum feelings and their upward momentum are still strong.

At one time, the “delicate fear” between Ethereum investors seemed widespread, but it seems that it has faded greatly. Tom Lee, President of Ethereum Dat Company BitMine, to claim that ETH may reach $ 5,500 in a few weeks and $ 10,000 to $ 12,000 by the end of the year. This will require 100 % huge prices in four months of the current trading price of $ 4,483.

Two main events can affect the macroeconomic economy next week. The first is the American bond auction on Tuesday, which will witness nearly $ 290 billion in short -term bonds and hit the market. This can harm liquidity and put more pressure on Bitcoin.

The second is the issuance of salaries, unemployment and unemployment in the United States, not cultivated on Friday. Weak NFP can exceed 60,000 expectations for continuous interest rate discounts, probably enhances risk assets such as Bitcoin.

The events last week prove that the price of Bitcoin is now closely related to global liquidity and the broader American market of its internal drivers. During this period, investors must remain cautious during this period of high potential fluctuations.