✅ Bitcoin could fall as much as 15-20% to $40k-$50k after a September Fed rate cut if the easing cycle is coupled with a recession, Bitfinex analysts warn 😮

Daily Digest:

🔸 Nvidia Corp, says "We have not been subpoenaed by the Department of Justice"

🔸 The official X account of NEAR Protocol seems to be compromised, or maybe it's not... The account is posting many strange tweets 🤑

🔸 Bank of Japan Governor Kazuo Ueda reiterated that the central bank will continue to raise interest rates

🔸 Galois Capital Management has settled charges with the SEC

🔸 Former CEO of the bankrupt crypto exchange Mt. Gox, will launch a new crypto exchange called EllipX this month

🔸 Uniswap Labs has settled charges with the Commodity Futures Trading Commission 🤑

🔸 Eigen Labs, the developer behind EigenLayer, deployed a “major update” to the restaking protocol

🔹 Prices:

🥇 Bitcoin - $58,093(↓0.1%)
✨ Ethereum - $2,463 (↓0.01%)
🧪 S&P 500 - 5,520 (↓0.16%)
🕗 DXY - 101.27 (↓0.54%)
🌉 Gold - 2,495 (↓0.01%)

A timeless classic 😊

Active addresses on the Bitcoin network hit new lows in 2024, the same level at which BTC traded at $45,000 3 years ago 🔍

The United States announced that сompanies hired just 99,000 workers for the month, less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000 🔽

Mastercard launched a crypto debit card in Europe, allowing users to spend money from self-custodial wallets at 100 million merchants 🏦

The US, EU, and UK sign the world’s first legally binding international AI treaty, prioritizing human rights and accountability in AI regulation 🤝

More than 600 Bitcoin ATMs went offline globally in the first two months of Q3 2024, with the United States recording the most shutdowns 🏧

🔹 Last 24 hours top 3 gainers:

Helium - $8.15 (↑7.93%)
Injective - $17.09 (↑5.48%)
dogwifhat - $1.59 (↑5.89%)

#GM

Top 10 Blockchains by Total Blocked Value (Ethereum excluded) 📊

Note how the list is topped by Tron, which is essentially a platform for USDT transfers and is otherwise of little interest to anyone 🤷‍♀️

Catizen, a Telegram-based puzzle game, has announced its token will launch on September 20 🗓

Currently, you can trade the upcoming CATI token on OKX’s pre-market, the price is around $0,442 🧪

Have you been farming a token in the game? Are you waiting for the listing?

✅ The crypto market continues to decline amid the publication of information about the cooling labor market in the U.S., which scares investors of a possibly approaching recession 😬

Daily Digest:

🔸 Bank of Canada cuts interest rate by 25 basis points to 4.25%

🔸 Catizen, a Telegram-based puzzle game, has announced its token will launch on September 20 🐈

🔸 The insiders could get 70% of Trump's backed World Liberty Financial tokens

🔸 The United States announced that сompanies hired just 99,000 workers in August, less than expectations of 140,000

🔸 Mastercard launched a crypto debit card in Europe 🏦

🔸 The US, EU, and UK sign the world’s first legally binding international AI treaty

🔸 More than 600 Bitcoin ATMs went offline globally in the first two months of Q3 2024

🔸 Billionaire Mark Cuban says if Kamala Harris taxes unrealized gains it will "kill the stock market."

🔹 Prices:

🥇 Bitcoin - $56,227 (↓3.0%)
✨ Ethereum - $2,377 (↓3.1%)
🧪 S&P 500 - 5,503 (↓0.3%)
🕗 DXY - 101.058 (↓0.06%)
🌉 Gold - 2,515 (↓0.07%)

Using money for the right purpose 😄

The number of tech job postings has fallen sharply over the past two years, before accelerating in 2024: has the bubble burst? 🫧

Binance founder and former CEO  Changpeng ‘CZ’ Zhao has been banned for life from managing the crypto exchanges 🕐

Ripple ($XRP) Co-Founder & Executive Chairman Chris Larsen has signed a letter to endorse Harris for president 🥏

Donald Trump officially announces he will create a government efficiency commission led by Elon Musk to audit US agencies 🇺🇸

Vladimir Putin says Russia supports Kamala Harris over Donald Trump in the presidential election because she's been endorsed by Joe Biden 🤨

🔹 Last 24 hours top 3 gainers:

Sui - $0.839 (↑2.70%)
Toncoin - $4.77 (↑1.79%)
Polygon - $0.37 (↑0.72%)

#GM

Crypto market pumps as U.S. employment data comes out a bit better than expected 👇

Nonfarm payrolls increased by 142,000 jobs last month after a downwardly revised 89,000 rise in July. Average hourly earnings came out at +0.4% (estimated 0.3%).

Interestingly, there is a huge disparity in the job market when it comes to who gets and loses their jobs, which makes you wonder what kind of jobs these statistics are talking about 🤔

Markets expectations for an upsized 50 basis point cut at the Federal Reserve's mid-September meeting increased after the data 📊

After the initial pump market is dumping 📉

Fear & Greed index is at 22 (extreme fear) 😧

🥇 Bitcoin - $54,734 (↓4.0%)

✨ Ethereum - $2,328 (↓3.0%)

Market is nuking 🔽

ETH falls below $2,300 🤑

BTC drops below $54,000 🤑

For the first time since his arrest in Paris, Pavel Durov has published a post on his Telegram channel 🔵

Is it a coincidence or part of a plan that today Telegram quietly updated its FAQ, removing following text:

"All Telegram chats and group chats are private amongst their participants. We do not process any requests related to them."

What do you think? 🤔

✅ Both the stock market and the crypto market are very red today, with Bitcoin falling below $52,000 dropping over 12% in the last week 

Daily Digest:


🔸 Revelo fund manager announced his resignation after he was forced at gunpoint to drain his crypto accounts

🔸 Nonfarm payrolls increased by 142,000 jobs last month after a downwardly revised 89,000 rise in July 📊

🔸 Binance founder and former CEO CZ has been banned for life from managing the crypto exchanges

🔸 Ripple Co-Founder & Executive Chairman has signed a letter to endorse Harris for president

🔸 Donald Trump officially announces he will create a government efficiency commission led by Elon Musk 🕑

🔸 Vladimir Putin says Russia supports Kamala Harris over Donald Trump in the presidential election

🔸 FED official Goolsbee says "The odds of a recession might be rising."

🔹 Prices:

🥇 Bitcoin - $53,318 (↓5.2%)
✨ Ethereum - $2,194 (↓7.6%)
🧪 S&P 500 - 5,408 (↓1.73%)
🕗 DXY - 101.19 (↑0.08%)
🌉 Gold - 2,497 (↓0.77%)

Join our chat 🗯

A thorny path 😅

We have been in the extreme fear zone for over a month already, also, the Accumulation Trend Score is nearing 0, which means that market participants are distributing and not accumulating BTC 🔍

Many signals are saying that retail is done, and we are nearing the bottom, at least local 👀

This is logarithmic price chart of Bitcoin 🥇

In the end, it’s all about perspective… 🤞

Five rules to become a profitable trader 💸

• Establish a risk level you're comfortable with. If losing all your trading capital will be a disaster, it means your stakes are too high, cut it 😟

• Master the art of doing nothing. Sometimes, the smartest traders are the ones who stay on the sidelines, analyzing the market and waiting for the perfect setup instead of forcing trades.

• Set realistic, achievable goals. While everyone dreams of hitting that one jackpot trade, focusing on steady, smaller gains is much more reliable 🗓

• Stick to what you understand. Rather than chasing hype, focus on assets you know well — ones where you understand the market dynamics and can anticipate price movements.

• Utilize Stop Loss and Take Profit. Setting limits on your trades will help you avoid emotional decisions, ensuring you lock in profits and minimize losses without hesitation 🕯

#trading_tips

✅ Over the week Bitcoin jumped to $57,000 following the U.S. jobs report, only to erase the gain and tumble below $54,000 after which it bounced up a bit, next week promises to be even more volatile as the CPI report and Fed statements will decide where we go next 👀

Weekly news digest:

💎 Crypto

🔸 Matter Labs behind ZKSynk blockchain has fired 16% of its employees

🔸 Hamster Kombat token HMSTR will likely be listed on Bybit CEX

🔸 More than 600 Bitcoin ATMs went offline globally in the first two months of Q3 2024

🔸 Mastercard launched a crypto debit card in Europe 🏦

🔸 Catizen, a Telegram-based puzzle game, has announced its token will launch on September 20

🏦 Crypto exchanges

🔸 Binance founder and former CEO CZ has been banned for life from managing the crypto exchanges

🔸 Former CEO of the bankrupt crypto exchange Mt. Gox, will launch a new crypto exchange called EllipX this month

🔸 Binance has completed the Frontier FRONT token swap to SLF and rebranding to Self Chain

💵 Finances and Economy

🔸 Bank of Japan Governor Kazuo Ueda reiterated that the central bank will continue to raise interest rates

🔸 Bank of Canada cuts interest rate by 25 basis points to 4.25% 🇨🇦

🔸 Nonfarm payrolls increased by 142,000 jobs last month after a downwardly revised 89,000 rise in July

🔸 FED official Goolsbee says "The odds of a recession might be rising."

⚖️ Law and Order

🔸 Galois Capital Management has settled charges with the SEC

🔸 Uniswap Labs has settled charges with the Commodity Futures Trading Commission 🦄

🔸 Qatar officially introduces a regulatory framework for digital assets

🗣 Personalities

🔸 Vladimir Putin says Russia supports Kamala Harris over Donald Trump in the presidential election
 
🔸 Donald Trump officially announces he will create a government efficiency commission led by Elon Musk
 
🔸 Ripple Co-Founder & Executive Chairman has signed a letter to endorse Harris for president 🥏

🔸 Revelo fund manager announced his resignation after he was forced at gunpoint to drain his crypto accounts

🚀 Best performers of the week:

Sui - $0.95 (↑18.8%)
Starknet - $0.427 (↑15.5%)
Helium - $8.19 (↑12.7%)

Crypto platform Friend. tech sees its token plummet 26% after the team transferred the admin and ownership of its smart contracts to Ethereum's null address, permanently relinquishing any control over them, once big, the project is over 🪦

Bitcoin spot ETFs had a net outflow of $706 million last week, and none of the 12 Bitcoin spot ETFs had a net inflow last week 🔽

A subsidiary of the Tokyo Electric Power Company is reportedly venturing into Bitcoin mining to save wasted renewable energy 🔋

Binance subsidiary Tokocrypto announced that it has received a physical crypto asset dealer license from the Indonesian Commodity Futures Trading Regulatory Authority ✔️

🔹 Last 24 hours top 3 gainers:

BitTorrent - $0...0691 (↑9.33%)
Aave - $136.4 (↑8.63%)
Fantom - $0.444 (↑7.45%)

#GM