Market dynamics on August 6: After the market plummeted, it rebounded sharply, BTC ecosystem SATS, BAKE, BADGER surged significantly
I. Market Dynamics
1. After a market crash, there is an oversold rebound and short-term consolidation may occur.
2. U.S stocks plummeted below the monthly line. The Federal Reserve did not have an emergency meeting, and expectations for a rate cut in September returned to 25bp.
II. Market Focus
1. Public chain ETH plunged, large institution JUMP cleared out billions of dollars worth of ETH.
2. BTC ecosystem's SATS, BAKE, BADGER surged significantly. SATS had the strongest rebound without falling below its previous low point. BN previously invested in UNISATS with BTC L2 release expected in September.
3. AI's TAO and ARKM soared high as well similar to the BTC ecosystem after experiencing significant declines earlier on but Nvidia - a leading US stock AI company is adjusting on the monthly line.
4.POLIFI's HARRIS also saw a significant increase.The Fed’s interest rate cut will benefit Democratic Party election victories.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analyst: Trump's inauguration on January 20th may become a signal for BTC to hit bottom
Trending news
MoreJapanese listed company Metaplanet released a review of 2024: The return rate reached 2629%, ranking first, and it is expected to make a profit for the first time since 2017
Venezuelans turn to cryptocurrency to cope with inflation, stablecoins account for half of their total cryptocurrency transactions
Crypto prices
More
