- 🇺🇸The White House is set to host a major crypto meeting Wednesday, with Trump, the SEC and CFTC chairs, and executives from Coinbase, Ripple and Kalshi expected.
- FOMC minutes land Wednesday, with markets pricing less than a 40% chance of a September hike.
- 🇯🇵 Japan reports GDP Monday and CPI Friday, the two key tests before a BOJ hike that Reuters reports could come as soon as September.
Monday Aug 17 - Japan Q2 GDP - US Treasury flows data, showing whether Japan cut its massive Treasury holdings again in June
Tuesday Aug 18 - US Housing Starts and Industrial Production
Wednesday Aug 19 - FOMC Minutes - White House crypto meeting - UK CPI
Thursday Aug 20 - CFTC's first Innovation Advisory Committee meeting on crypto and prediction markets - Philadelphia Fed Index
🚨SHOCKING: Hong Kong's first licensed stablecoin failed a security review just two days after launching.
Blockchain security firm BlockSec found a single key can mint, freeze, and force burn the HKD-pegged HKDAP, calling the contract "not production-ready."
The token is issued by Anchorpoint, the Standard Chartered venture with HKT and Animoca Brands, with BlockSec saying its design breaks Hong Kong regulators' own rules.
Bitcoin supply in profit is currently at one of its lowest levels.
The last time around 9 million BTC were in profit, Bitcoin was trading near $20K. From there, BTC eventually rallied to $70K.
Not saying the same thing will happen immediately, but it’s interesting to look at what happened the last time Bitcoin’s supply was at a similar level of loss.
$ETH Now caught between the $1750 and $2100 levels.
Both have acted as strong support & resistance levels over the past 2 years.
ETH seems kind of in the middle of nowhere here. The big trend is obviously still down. Now the question is whether it can push higher and attempt a break at that $2100 high timeframe level, or if this is just another lower high in the down trend.
Breaking back above $1750 was the first sign of strength I wanted to see. $2100 would be the next.
The altcoin market is going through a massive reset. Right now, around 40% of altcoins are sitting near their all-time lows.
Sounds terrible. But this is where things get interesting.
▫️Weak projects are getting exposed ▫️Hype alone is no longer enough ▫️Investors are becoming more selective ▫️Strong projects are trading at much lower valuations ▫️Teams that keep building now deserve attention
One important reminder: Cheap doesn't automatically mean undervalued. A lot of these coins may never recover.
The opportunity is finding the small percentage that are still building, still growing, and still relevant despite the market weakness. That's my focus right now.