Daily Report | Bitcoin is oversold, and the current RSI indicator has reached the level of historical bottom signals for Bitcoin; Grayscale ETHE has seen a net outflow for 11 consecutive days; Copper is considering refocusing on the U.S. market in the event of a Trump victory
Highlights for August 7Organizer: Luan Peng, ChainCatcher
Important News:
- Paris Olympic venues suffer cyber attack, hackers demand ransom in cryptocurrency
- Data: Grayscale ETHE continues to see net outflows for 11 days, currently holding 1.96 million ETH
- Texas police receive 20 to 30 reports of gift card and Bitcoin scams
- Developers: X platform tests payment service Payments, involving transactions, balances, and transfers
- Matrixport: Bitcoin is oversold, current RSI indicator has reached historical bottom signal levels for Bitcoin
- OKX to delist MSN, OMN, REP, EURT, IGU, PCI, and SLN spot trading pairs
- Insiders: Copper is considering refocusing on the U.S. market if Trump wins
- DWF Labs co-founder: A new Meme project has been selected for collaboration and strong support
"What important events happened in the past 24 hours"
Paris Olympic venues suffer cyber attack, hackers demand ransom in cryptocurrency
According to Decrypt, venues for the Paris 2024 Olympics and dozens of museum shops in France have suffered a cyber attack, with hackers demanding ransom in cryptocurrency. The hackers exploited the data processing systems of about 40 tourist attractions to collect sensitive financial data, including the Grand Palais museum. The French Cybercrime Unit (BL2C) is investigating the attack.
According to Paris authorities, this attack has not affected the Olympic program schedule.
Data: Grayscale ETHE continues to see net outflows for 11 days, currently holding 1.96 million ETH
According to data from Grayscale's official website, the Grayscale Ethereum spot ETF ETHE currently holds 1.96 million ETH. It is reported that ETHE held 2.63 million ETH when it launched on July 23, but has seen significant net outflows since then, continuing for 11 days, although the outflow rate has gradually slowed, with $39.7 million flowing out yesterday, far below the over $100 million outflow in the first week after launch.
Texas police receive 20 to 30 reports of gift card and Bitcoin scams
The Lubbock police in Texas report a significant increase in Bitcoin-related scam cases, with victims suffering heavy losses. In the past few months, 20 to 30 people have reported scams involving gift cards and Bitcoin transactions.
Scammers typically target the elderly, claiming their accounts have been compromised and need verification. Victims are instructed to write checks, withdraw cash, and deposit funds into Bitcoin machines. Officer Brandon Stewart recalled a case where one victim transferred $25,000 and then $30,000.
Developer Nima Owji stated yesterday that Elon Musk's X platform will launch the X Payments payment service, involving transactions, balances, and transfers.
He stated, "X.com was once a payment system and will become one again." He also mentioned that X is working to enable users to export account analysis data.
Musk previously revealed plans to offer financial services on the X platform, including savings, transferring to others, and accessing high-yield money markets.
Digital currency research firm Matrixport released an analysis chart stating that due to ongoing macroeconomic and geopolitical risks, as well as poor earnings expectations for U.S. tech companies, it remains crucial to stay cautious. However, Bitcoin appears to be oversold, with its RSI reaching 30%.
Historically, such a low RSI level is usually a bottom signal for Bitcoin. While this does not guarantee that prices won't fall further, it indicates that the current rate of decline may slow. Notably, after the RSI reached such low points recently, buying opportunities emerged within days.
OKX to delist MSN, OMN, REP, EURT, IGU, PCI, and SLN spot trading pairs
According to an official announcement, OKX will officially delist the following trading pairs on August 9, 2024, from 4:00 PM to 4:30 PM (UTC+8).
The specific trading pairs involved are as follows: MSN/USDT, OMN/USDT, REP/USDT, BTC/EURT, ETH/EURT, EURT/USDT, IGU/USDT, PCI/USDT, SLN/USDT.
Insiders: Copper is considering refocusing on the U.S. market if Trump wins
According to Bloomberg, insiders revealed that London-based cryptocurrency custody firm Copper Technologies Ltd. is considering refocusing on the U.S. market if Trump wins.
It is reported that Copper opened an office in New York in 2021 but withdrew from the U.S. after the digital asset price crash the following year. Copper founder Dmitry Tokarev stated, "I would be surprised to hear of any digital asset company that does not see the U.S. as a growth opportunity."
DWF Labs co-founder: A new Meme project has been selected for collaboration and strong support
DWF Labs co-founder Andrei Grachev announced on the X platform that a new Meme project has been selected for collaboration, emphasizing that the project has an active community, interesting games, and multi-chain support, and will provide comprehensive resources and support in the future.
Data: 6 Hong Kong virtual asset ETFs traded over HKD 47.8277 million today
According to Hong Kong stock market data, as of the close, the trading volume of 6 Hong Kong virtual asset ETFs today was HKD 47.8277 million.
Among them:
The trading volume of Huaxia Bitcoin ETF (3042.HK) was HKD 40.57 million;
The trading volume of Huaxia Ethereum ETF (3046.HK) was HKD 1.89 million;
The trading volume of Harvest Bitcoin ETF (3439.HK) was HKD 1.40 million;
The trading volume of Harvest Ethereum ETF (3179.HK) was HKD 297,700;
The trading volume of Bosera HashKey Bitcoin ETF (3008.HK) was HKD 1.94 million;
The trading volume of Bosera HashKey Ethereum ETF (3009.HK) was HKD 1.73 million.
PeckShield: Rain exchange hacker address has begun laundering ETH through Tornado Cash
According to PeckShieldAlert monitoring, the wallet address marked as the hacker of Rain exchange has begun laundering ETH through Tornado Cash.
"What are the noteworthy articles to read in the past 24 hours"
Arthur Hayes: Has the Bank of Japan escaped its predicament? How does it affect the crypto market?
What would you do when the market is sluggish but you need to win an election?
If you are a politician, the answer to this question is simple. Your top priority is to ensure re-election. Therefore, you print money and manipulate prices to rise.
Imagine you are Kamala Harris, the Democratic candidate for President of the United States, facing the formidable orange man (Trump). You need everything to go smoothly because a lot has gone wrong since you last served as Vice President. What you least need on election day is a rampant global financial crisis.
Harris is a shrewd politician. Given that she is a puppet of Obama, I bet he is warning her about how severe the consequences would be if the 2008 global financial crisis (GF) were to hit her doorstep in the months leading up to the election. President Joe Biden is working in the vegetable garden, so people think Harris is in control.
BTC just rebounded to touch $70,000, only to start leaking immediately, wiping out half a year's gains in a week. The day "805" brought a refreshing feeling to crypto investors in the sweltering summer.
However, regardless of how the market stagnates, a portion of fixed liquidity remains on-chain, keeping the Meme market lively. As long as the Earth keeps turning, the heat of Memes will not cease.
After the hype around Trump’s shooting and the new dog Nerio has passed, the Meme wind has shifted to the Olympic theme.
Ore mining intensifies, is it still worth participating?
Ore, as an experimental hackathon project, once caused congestion on the Solana network, and its token price has attracted attention. The second phase of the project immediately attracted countless followers upon launch, and this article will guide you in participating in the gold rush.
Starting a double-digit rebound market, is Bitcoin leading a reversal trend?
As a driving force behind the global stock market crash, the Japanese stock market triggered the circuit breaker mechanism twice during this period. Today (August 7), Bank of Japan Deputy Governor Shinichi Uchida spoke for the first time after this historical stock disaster, reassuring the market that if the financial market is unstable, the Bank of Japan will not raise policy interest rates. Meanwhile, improvements in U.S. economic indicators have alleviated recession concerns, releasing bullish sentiment, and U.S. stocks have stabilized and rebounded. Stimulated by a warming risk appetite in the financial market, market sentiment has been boosted, leading to a significant rebound in the crypto market.
Is the TVL boom under the temptation of airdrops a sunset glow or a continuing chapter? What kind of TVL is considered valuable? Where is the turning point in the liquidity market?
To find answers, we had an in-depth conversation with StakeStone founder Charles K, discussing "the feasibility of project valuation solely based on TVL," "the TVL boom under the temptation of airdrops," "what kind of TVL is considered valuable," "the turning point in the liquidity market," and StakeStone's unique advantages and differentiated strategies.
