BitEagle Market Analysis 8.9

Good morning, brothers, yesterday #BTC once exceeded 30,000, because there are funds to bet on two things, or to use expectations to make money.

(1) The CPI released on Thursday was lower than expected

(2) The BTC ETF application reply around August 13th next week will be approved.

Galaxy Digital CEO cited #贝莱德 sources as saying that #US’s first spot Bitcoin #ETF# could be approved by February 2024.

【#链上数据 aspects】

While BTC is rising, stablecoins on exchanges are not increasing.

But the overall BTC outflow from exchanges mainly comes from Gemini exchange.

Although BTC has an outflow of #交易所 , there is no inflow of funds, so be cautious.

At present, other currencies have not followed the rise of BTC, which is also a reflection of insufficient market funds.

To deal with this situation, large funds should mainly hold part of their positions in BTC/ETH, and small funds should go guerrilla. $ETH $BTC