Total number of oil rigs in the U.S. for the week ending August 8

The market looks like a SpaceX rocket: straight to the sky . 1.#HOLD# - 2.#HIVP# - 3.#MULTI# - 4.#ISME - 5.#GOV#

Recently, the sentiment in the crypto assets market has been low, raising concerns among some investors about the "end of the bull run and the arrival of a Bear Market." However, from the overall market structure, the current situation is more likely a round of Depth Whipsaw rather than a transition between bull and bear cycles. This trend is quite similar to the previous Solana (SOL) which retraced from 207 USD to 155 USD, and then climbed back up to 250 USD. From the news perspective, the expectations for the Solana ETF and Dogecoin ETF next month are still brewing, which may limit their Depth correction space. As for Ethereum (ETH), as long as it can hold the $4000 mark and not fall below $3800, the overall trend can still be considered healthy. Based on the current market situation, we have reason to believe that this bull run is expected to continue until early December. In the coming period, closely monitoring on-chain capital flows and changes in position structures will be an important means to grasp key turning points in the market. Through this data, we can better understand market trends and provide investors with more accurate market insights. Although short-term market fluctuations may occur, it is crucial to remain rational and have a long-term perspective. The development of the crypto assets market is still in its early stages, and we should focus on the underlying technological advancements and the expansion of application scenarios, rather than being overly concerned with short-term price fluctuations. Overall, the current market situation resembles a significant adjustment period rather than a signal of a bull-bear transition. Stay vigilant while also maintaining confidence; this could be the last opportunity before the next round of increases.

Gate officially launches the high-performance Layer 2 network Gate Layer, leading the GT ecosystem to a comprehensive upgrade with "All in Web3"! With GT staking as support, Gate Layer achieves a perfect balance between performance and security: 🔹 Supports over 5,700 transactions per second, 1 second block time. 🔹 The transaction fees are much lower than most existing Layer 2 networks. 🔹 3 Core Tools —— Perp, Gate Fun, Meme Go, driving trading, liquidity, and value creation As the only Gas token, GT, with a continuous burning mechanism and the GateChain upgrade, Gate is building an open ecosystem centered around "All in Web3". 🌐 Learn more: https://www.gate.com/announcements/article/47349 ‍#Gate ##GateLayer ##Web3# 

The crypto assets market has once again stirred up waves, with a stunning transaction attracting widespread attention. It is reported that a mysterious whale investor withdrew 22,100 Ether (ETH) from the Kraken exchange, with a total value of approximately $91.6 million. This move immediately sparked heated discussions in the crypto community, with investors speculating about the deeper implications behind it. This massive withdrawal was completed in just two hours, demonstrating the efficiency of the transaction. According to Kraken's regulations, institutional accounts that have completed advanced verification enjoy unlimited withdrawal privileges, so despite the large amount, this transaction is still within compliance. Market observers are closely watching the direction of these funds. If these ETH are transferred to cold wallets for long-term holding, it may be seen as a positive signal for the market. Conversely, if they flow to other exchanges, it could trigger short-term selling pressure. However, considering the overall trend of recent Crypto Assets exchanges, multiple exchanges, including Binance, OKX, and Gemini, have shown a net outflow, with a total of approximately 178,000 ETH flowing out. This phenomenon resembles investors moving assets to personal wallets as a hedging behavior, reflecting a risk-diversifying investment strategy. From a broader perspective, this large-scale withdrawal of coins may reflect institutional investors' long-term optimism towards ETH. The significant decrease in the Ethereum Foundation's holding ratio (from 9% to 0.3%) marks an acceleration of the decentralization process, which is considered a long-term favorable factor. Historical data shows that the impact of a single large transaction on the market is often temporary. For example, in 2024, a Whale transferred 35,000 ETH to an exchange, but within 48 hours, the price of ETH only dropped by 6%. In contrast, when Tesla announced the purchase of $1.5 billion in Bitcoin, the price of Bitcoin surged over 10% on the same day. This indicates that a single large transaction affects market sentiment more in the short term, rather than the long-term trend. It is worth noting that this withdrawal event did not cause significant fluctuations in the market. Instead, the circulation of ETH has continued to tighten, especially after the approval of the spot ETH ETF, with approximately 777,000 ETH (valued at about $3 billion) withdrawn from the exchange. This indicates that institutional investors and large holders prefer self-custody and long-term holding. For investors, it is important to discard the outdated notion that "withdrawing coins equals dumping the market." Rational analysis of on-chain data and market signals is key to formulating investment strategies. The movements of whales are worth following, but blindly following trends could pose risks. In this rapidly changing market, it is crucial to maintain clarity and independent thinking.

Ethereum (ETH) has shown concerning market performance recently, with prices continuously dipping, putting the critical support level of $4000 at risk. Although there have been some positive signals on the 4-hour chart, such as the MACD golden cross pattern moving upwards, the market lacks sustained trading volume support and price rebound. After a brief period of consolidation, ETH has once again fallen into a continuous downtrend. If the 4000 USD support level is broken, we are likely to see the price quickly decline to the 3800 USD range. In this situation, investors should remain cautious and patiently wait for better entry opportunities. In the current market environment, it is advisable to closely monitor changes in trading volume and price trends. Only when there are clear reversal signals and sustained buying support should one consider re-entering the market. Until then, maintaining a wait-and-see attitude may be the wiser choice. For long-term investors, this may be an opportunity to accumulate positions, but it is still necessary to carefully assess the risks. Short-term traders should be more vigilant and set appropriate stop-loss levels to prevent losses from potential further declines. Overall, the Ethereum market is at a critical moment, and investors need to remain calm, closely monitor market trends, and manage risks effectively.