Bitcoin cannot hold $116K because the OGS spins into ether: CryptoDaybookAmericas

By Omkar Godbole (All times unless otherwise indicated)

The crypto market has been stagnating along with Bitcoin since Saturday BTC$115,104.99 Again, along with ongoing sales by early adopters or OGS wallets, we were unable to maintain profits above $116,000.

On Sunday, eight years of BTC holders moved over $136 million to polymer meat and began dumping it, according to blockchain analyst LookonChain. The holder is known to have replaced 35,991 BTC with 886,731 ETH in recent months.

Other long-term holders have settled coins in recent months as the market continues to be adjusted to six-figure prices as the new normal for BTC.

However, the latest sales are not only limited to long-term holders. Chain data tracked with GlassNode showed wallets of all sizes returning to coin distribution.

In the case of ether, whale wallets continue to scale exposure, suggesting ether outperformance against bitcoin. However, the etheric Bitcoin ratio for binance fell for the third year in a row, failing to take advantage of the trendline breakouts confirmed on Friday.

Recent outperformers MemeCoins are also under pressure, with Token, Doge and Shib losing 10% and 6% respectively in the last 24 hours.

Solana’s native tokensol traded 2% lower at $234 despite major industry participants taking steps to accelerate the adoption of Solana Native’s distributed finances. (defi).

Kyle Samani, chairman of Solana Treasury Company Forward Industries, registered with NASDAQ, said on X that the company plans to deploy funds to the Solana-based Defi protocol. Last week, the forward raised $1.65 billion in privately owned placements led by Multicoin Capital, Galaxy Digital and Jump Crypto.

Samani was in response to the ideas raised by Anthem, a crypto trader. Anthem has called for the corporate finance fund to invest in Solana-based Defi to boost the network’s Defi appeal in connection with the industry giant Ethereum.

In traditional markets, investors’ positioning in the S&P 500 looked completely biased and bullish. “The emotions are extreme, so be careful about that,” Shortbear said in X.

What to see

• Crypto
• Macros
• Revenue (Estimation based on fact set data)

Token Event

• Governance votes and phone calls
  • Curve DAO is voting to renew its donation-enabled two-crocrypt contract, and refines the donation so as the unlocked portion will last after burns. Voting will end on September 16th.
• Unlock
  • September 15th: StarkNet (strk) To unlock 5.98% of the circulation supply, unlock the supply supply worth $17.09 million.
  • September 15th: 6 Become$0.3194 To unlock 1.18% of the circulating supply, unlock the supply worth $18.06 million.
• Token launch
  • September 15th: Openledger (ovnereling) It will be listed on crypto.com.

meeting

Token talk

Oliver Night

• Monero’s blockchain suffered from the deepest Reorg ever on Monday, rewinding 18 blocks.
• Blockchain reorganization occurs when a node tracks a portion of an existing chain, where it is doing longer work. Shifts occur during a temporary fork where two versions of chains compete.
• Monero’s XMR token remained unshakable during the caterpillar. Increases by 5% despite attacks by Qubic. This is a Layer-1 AI-centric blockchain and mining pool that last month attempted to take over the Monero blockchain by accumulating 51% of its mining power.
• The event rewrites the transaction history for approximately 36 minutes, disabling approximately 118 confirmed transactions, and prompted concerns about network security.
• Crypto Podcaster Xenu claimed it was an attempt to “stop bleeding” XMR prices after the XMR price fell from $344 to $235 during the first 51% attack in August.
• XMR is currently trading at $304, bringing negative sentiment aside, up 78% in daily trading volume to $136 million.

Positioning of derivatives

By Omkar Godbole

• The top 25 coins have experienced a decline in open interest in futures (Hey) Over the past 24 hours, Memecoins such as Doge, Pepe and Fartcoin have registered double-digit capital outflows. This contrasts with the pre-covered bounce seen in most tokens.
• BTC’s Global Futures oi Tally returned to 720k BTC last week from a nearly record high of 744k BTC. Total OI across the market has returned to $90 billion from $95 billion over the weekend.
• ETH tally shows new capital inflows, growing from around 13.2 million ether to over 14 million ether earlier this month. However, this does not necessarily indicate a bullish position. (CVD) ETH has been negative for the past 24 hours. It is a sign of net sales pressure.
• Most major tokens have seen negative CVDs for the past 24 hours.
• Activities on futures registered with the CME appear to be gaining pace, bounced back from a high low of 133.25k BTC earlier this week to 141.69k BTC. The annual rate for three months is below 10%, extending the consolidation. ETH’s CME OI remains below 2 million ether.
• Deribit biases BTC and ETH has been significantly mitigated in all tenors as the market expects Fed rate reductions in the coming months. The implicit volatility term structure remains in Contango, and its December expiration date is expected to be more unstable.

Market movements

• BTC is down 1.1% from 4pm on Friday at $114,933.52 (24 hours: -1%)
• ETH is down 3.1% at $4,528.04 (24 hours: -3.22%)
• Coindesk 20 is down 2.73% at 4,245.39 (24 hours: -3.35%)
• Ether CESR Composite staking rate is 2.82%, down 2 bps
• BTC’s funding rate is 0.0081% (8.829% per year) About Vinanence

• DXY has not changed at 97.48
• Gold futures fell 0.29% to $3,675.80
• Silver futures fell 0.56% at $42.59
• Nikkei 225 closed 0.89% at 44,768.12
• Hang Seng rose 0.22% to 26,446.56
• FTSE is down 0.1% at 9,273.57
• The Euro Stoxx 50 is up 0.6% at 5,423.13
• DJIA fell 0.59% on Friday at 45,834.22
• The S&P 500 was unchanged at 6,584.29
• NASDAQ Composite rose 0.44% at 22,141.10
• S&P/TSX Composite fell 0.42% at 29,283.82
• S&P 40 Latin America has been closed with a change at 2,857.80
• The US 10-year financial ratio has not changed at 4.059%
• E-Mini S&P 500 futures are no different at 6,594.50
• E-Mini Nasdaq-100 futures remain unchanged at 24,098.00
• The e-mini dow Jones Industrial Average Index is up 0.22% at 45,957.00

Bitcoin statistics

• BTC dominance: 58.11% (0.57%)
• Ether to Bitcoin ratio: 0.03938 (-1.38%)
• Hashrate (7-day moving average):025 eh/s
• Hashpris (spot): $53.81
• Total fee: 3.13 BTC/$362,347
• CME Futures Open Interest: 141,690 BTC
• BTC priced in gold: 31.5 oz
• BTC vs. Gold Market Cap: 8.90%

Technical Analysis

• Doge fell from 30.7 cents to 26 cents, and it penetrated the bullish trend line from its September 6th low.
• The breakdown suggests the momentum of the updated seller.
• Prices are also accepted below the one-sided cloud. Crossovers under the cloud are said to represent a bearish shift in trends.

Crypto stocks

• Coinbase Global (coin): Closed on Friday at $323.04 (-0.28%)-0.34% is $321.95 in front of the market
• Round (CRCL): Closed at $125.32 (-6.27%)+1.81% 127.59 dollars
• Galaxy Digital (glxy): Closed at $29.70 (+2.88%)-0.47% at $29.56
• strong (blsh): Closed at $51.84 (-3.98%)+1.72% $52.73
• Mala Holdings (Mara): Closed at $16.31 (+3.82%)-0.67% at $16.20
• Riot Platform (Riol): Closed at $15.89 (+1.53%)-0.44% at $15.82
• Core Scientific (Colts): Closed at $15.86 (+1.99%)-0.38% at $15.80
• CleanSpark (CLSK): Closed for $10.35 (+1.47%)not changed in previous markets
• Coinshares Valkyrie Bitcoin Miners etf (WGMI): Closed at $37.32 (+4.63%)
• Escape movement (exod): Closed at $28.36 (-1.73%)not changed in previous markets

Cryptocurrency company

• strategy (MSTR): Closed at $331.44 (+1.66%)-0.53% 329.68 dollars
• Semler Scientific (SMLR): Closed at $29.19 (+2.28%)
• Sharplink Games (sbet): Closed for $17.7 (+8.19%)-2.26% at $17.30
• Upexi (upxi): Closed at $6.76 (+18.93%)+1.55% at $6.86
• Light Strategy (Lt): Closed at $3.07 (+10.43%)

ETF Flow

Spot BTC ETF

• Daily Net Flow: $642.4 million
• Cumulative net flow: $567.9 billion
• Total BTC holdings: 1.31 million

Spot ETH ETF

• Daily Net Flow: $455.5 million
• Cumulative net flow: $133.8 billion
• Total ETH holdings: 648 million

Source: Farside Investors

While you’re asleep

• As minus-side fears go ahead of Fed rate reductions, what’s next for Bitcoin and Ether? (Coindesk): Amberdata’s Greg Magadini says regular quarter point cuts could mean gradual gains, but half-point moves could trigger an explosive rally of BTC, ETH, SOL and gold.
• The Bank of England’s proposed stablecoin ownership restrictions are ineffective, Cryptogroup says (Coindesk): Executives say that the UK’s proposed cap enforces innovation pushing overseas and may not be able to take risks, but US and EU regulations set standards without limiting their holdings.
• LSE Group launches a blockchain platform for access with private funds (Bloomberg): LSEG’s digital market infrastructure was built to increase efficiency and used in MemberCap funding for MCM Fund 1, where Crypto Exchange Archax plays the role of candidates.
• The Trump administration has claimed vast power to compete to fire federal governors before meeting (New York Times): In a filing in the federal court of appeals Sunday, Justice Department lawyers argued that Trump’s authority to expel Gov. Lisa Cook was both “reviewiewiseable” and “reasonable.”
• BOE expects to put a key rate on hold, but slowly and quantitatively tightening (Wall Street Journal): Indications of internal resistance question short-term rate cuts, with four MPC members opposed the final move, and BOE Governor Andrew Bailey warning inflationary pressure complicating policy choices.