Bitcoin recovery? All eyes are now on the flexibility of the stock market in the United States star-news.press/wp

Welcome to the Mourning Asia Pacific summary – your primary digestion of encryption developments overnight to form regional markets and global feeling. This Monday version was presented by Paul Kim. Get green tea and see this space.

The encryption market in August is a difficult start. Last week, Bitcoin prices decreased sharply, decreasing to less than $ 117,000 – 120,000 dollars that have been established since July 11. Bitcoin has decreased by almost 4 % throughout the week, with some altcoins decreased by more than 15 %.

First by Powell, the second by NFP

The decrease last week was revealed in two main phases. One of the reasons for this was the statements of the Federal Reserve Chairman Jerome Powell following the Federal Open Market Committee meeting in July (FOMC) held on Wednesday. The market expected a significant decrease in September after a temporary stop in July, but Powell poured cold water on these expectations.

Powell stated that the possibility of reducing the September rate is still inaccurate. While acknowledging the potential stagnation signs, it is clear that it is reasonable to maintain rates of rates as the inflationary effects of definitions have not been confirmed.

He also emphasized that the labor market is still strong and close, which urges to focus on turning from employment to the risks of inflation.

Interestingly, there was a strong internal opposition within the Federal Reserve Bank of this view. Federal Reserve Governor Christopher Waller indicated that employment growth in the private sector has slowed down. Despite health level health, data reviews reveal weakness, which led to calls for preventive price discounts.

Currently, Powell’s perspective is in line with the majority within the Federal Reserve, and the market must reduce its expectations to reduce the interest rate in September. Bitcoin prices fell to $ 11,800.

Non -agricultural salary statements (NFP) was released on August 1, which led to the second decrease. The NFP estimate was in July between the Wall Street analysts about 110,000, but the actual number came in 73,000. This contradicts the optimistic Powell look and indicates a significant deterioration in the American labor market.

More than that was the main review of the May and June data from 258,000 jobs. The strong NFP number in June was often 147,000 a statistically illusion. The United States’ Labor Office reviewed the June number to 14000 and 19,000 May – the lowest level in five years.

The official unemployment rate was suitable for expectations by 4.2 %, but the broader U-6 unemployment rate reached 7.9 %, which is the highest since the Covid-19 crisis. The number of unemployed has also increased in the long run and who are looking for work for more than 27 weeks. Acute economic shrinkage indicators and the weak labor market caused a decrease in the stock market in the United States. Bitcoin also fell to about $ 112,000 on that day.

Macro stagnation withdraws the purchase of companies and the traded investment funds, which once led

Throughout the week, the major macroeconomic trends seemed to pull the encryption industry along. The flows to the circulating investment funds listed in the list that pushed bitcoin and Ethereum during the month of July fell dramatically after July 30. On August 1, the investment funds circulated in the period recorded their largest flow in one day since February of this year.

ETHEREUM purchase companies, which were major drivers behind ETHEREUM prices. The week started positively: Sharplink Gaming has confidently announced the purchase and timing of ETHEREUM with a value of $ 296 million, while BitMine, led by CEO of Tom Lee, claimed the fundamental value of Ethereum $ 60,000.

Standard Charterd expected that the companies that buy ETHEREUM will keep about 10 % of the total offer, indicating a strategic accumulation exceeding $ 10 billion-an increase of 50 times in only four months.

However, these companies were unable to collapse the price later in the week. ETHEREUM decreased by 7.2 %, with the best companies heading towards Ethereum Sharplink (-30.80 %) and bitMine (-23.16 %) also decrease.

Looking at this position, the homosexual feelings spread naturally. Arthur Hayes, the founder of Bitmex, has predicted Habbiya major encrypted currencies. He expected the bitcoin to decrease to $ 100,000 and ethereum to $ 3,000. Hayes cited the upcoming American tariff legislation and slow global credit expansion as major factors.

During the weekend, the data on the chain caught attention with the ETHEREUM scale. The accumulation of Ethereum holder decreased to 27.57 % – the lowest in two months. This indicates that the investors no longer come out of ETH holdings.

The stock market is the key

The warm momentum suddenly disappeared in this sharp decline. What is awaiting encryption prices this week? The key will be whether the American stock market can recover from the shock of NFP data review.

The US Employment Office in the United States has the date of reviewing the annual salary statements that are not planted with more than 800,000 jobs last year, revealing that these jobs were not actually present despite previous reports for the previous year. However, even this revelation did not lead to significant fluctuations in the stock market.

Last Friday, the sharp decline was partially due to the recent US stock market, which has reached the highest new levels smoothly; Weak employment numbers provided a suitable operator for correction. If the stock market in the United States is recovered without further corrections, the encryption market is likely to wear.

However, if the additional reforms continue, Powell’s comments deny the September rate reduction even though strong American workers will become decisive. CME collection Fedwatch The tool already predicts three price cuts during the year.

No major issues of the macroeconomic economy expect this week, but US employment remains a decisive axis. The Conference Council will issue employment trends on Monday, and this data may significantly affect American stock markets.

We wish our readers successful investments this week as well.