Breaking news! A giant whale has sold 3,410 Bitcoins in 11 days, while huge funds are flowing into Ethereum! Is this an earthquake in the crypto world or the start of a new cycle?

Event Summary: A shocking wave has appeared in the market recently! On-chain data shows that an "ancient giant whale" has sold a total of 34,110 Bitcoins over the past 11 days, worth approximately $3.7 billion, and exchanged all of it for 813,298 Ethers. Even more astonishing is that this giant whale has concentrated the sale of 7,000 Bitcoins in just over the past 50 hours.



"Ethereum Frenzy" of Whales: The recent operations of these whales may be closely related to significant positive developments in Ethereum's fundamentals. Data shows that the supply of stablecoins on the Ethereum network has surpassed $160 billion, setting a new historical high and increasing nearly threefold compared to January 2024. This indicates that the capital activity and potential attractiveness of the Ethereum ecosystem are rapidly rising.



Current Positions and Market Trends: As of now, this giant whale still holds about 46,000 Bitcoins, worth approximately $5 billion. The market generally speculates that this portion of holdings may still flow back into the market.



Market sentiment and institutional behavior:

"Smart money" is gathering: The good news is that the group of "medium-sized whales" holding between 100 to 1000 Bitcoins is still increasing its holdings, indicating that large funds are taking advantage of the price pullback of Bitcoin to gradually absorb chips. Data shows that Bitcoin has accumulated between 1.5 million to 40,000 Bitcoins in the price range of 100,500 to 107,000 USD, and has also absorbed 1.5 million Bitcoins in the range of 93,500 to 98,500 USD.

The "Hodler" mentality remains unchanged: Despite the price of Bitcoin briefly dipping below $110,000, the position volume did not see a significant decrease in the range of $112,000 to $118,000. This indicates that even during the pullback, new investors have not lost confidence.



Macroeconomic Barometer:

Rising Expectations for Interest Rate Cuts: The market's expectations for a rate cut in September have reached 87.4%, injecting positive signals into the market.

Labor Market Data in Focus: The most critical market catalyst this week will be the labor market data. Job openings, the small non-farm payrolls (JOLTS), and the large non-farm payrolls (NFP) data, to be released from Wednesday to Friday, particularly the unemployment rate and employment report on Friday, are likely to become key drivers of market sentiment.



Academicians in the crypto community remind us: The recent actions of the whales have undoubtedly brought significant volatility to the market, but we must also recognize the positive signals of institutional capital accumulation and the favorable macroeconomic expectations. Moving forward, please closely monitor the Federal Reserve's monetary policy trends and the release of key economic data, as they will determine the future direction of the market. #Gate 新上线 WLFI# #九月份加密市场能否突破# #今日你看涨还是看跌？#