Crypto | Morning News | August 31
A rhythm of four straight down days—$SOL also took the lead in smashing it
I took a look at the chart this morning, and my mood wasn’t very good. $BTC got stuck around 77,500 and still fell 0.76%; $ETH was even weaker, 2414 directly -1.7%; $SOL took it further and dropped as much as -4% in one go— even the psychological level of $100 was broken.
Honestly, I’m getting more and more unable to make sense of this market. On the news side, Grayscale and the Canary Capital ETF have both launched—yet it still dropped 6% straight away. Good news has already been priced in, and that becomes a negative. Even the TON wallet cross-chain top-ups can’t pull it up.
In my view, what we’re seeing now is basically a battle over existing positions, with the ETF redemption/unlocking period. If $BTC 77000 breaks, then it’s the next hurdle; if it doesn’t, then we grind slowly.
My strategy: spot holdings—do not touch; don’t catch falling knives when $SOL keeps dripping lower—I got burned too many times last year; $ETH 2400—if it can hold, there’s still room to play; if it can’t, then it’ll be a bloodbath.
Are you going to lie low, or bet on a rebound? Chat in the comments.
A rhythm of four straight down days—$SOL also took the lead in smashing it
I took a look at the chart this morning, and my mood wasn’t very good. $BTC got stuck around 77,500 and still fell 0.76%; $ETH was even weaker, 2414 directly -1.7%; $SOL took it further and dropped as much as -4% in one go— even the psychological level of $100 was broken.
Honestly, I’m getting more and more unable to make sense of this market. On the news side, Grayscale and the Canary Capital ETF have both launched—yet it still dropped 6% straight away. Good news has already been priced in, and that becomes a negative. Even the TON wallet cross-chain top-ups can’t pull it up.
In my view, what we’re seeing now is basically a battle over existing positions, with the ETF redemption/unlocking period. If $BTC 77000 breaks, then it’s the next hurdle; if it doesn’t, then we grind slowly.
My strategy: spot holdings—do not touch; don’t catch falling knives when $SOL keeps dripping lower—I got burned too many times last year; $ETH 2400—if it can hold, there’s still room to play; if it can’t, then it’ll be a bloodbath.
Are you going to lie low, or bet on a rebound? Chat in the comments.