ChainCatcher news, according to Cointelegraph, the CEO of Bitcoin technology company Jan3, Samson Mow, stated, "Bitcoin traders predict the price will return to $40,000, which is likely more out of fear than any technical fundamentals. A fear-driven market never lasts long because fundamentals will prevail over time, and even the most severe frauds like FTX, once exposed, cannot ultimately suppress the price of Bitcoin. The bears say Bitcoin will drop to $40,000, and this prediction has no basis other than self-induced fear."Samson Mow wrote in a post on September 6, "Bitcoin can easily reach $100,000, supported by $3 billion in daily debt, Bitcoin strategic reserves, pension allocations, and corporate purchases."According to the global market macro commentary magazine "Kobeissi Letter," the U.S. government's daily debt interest expenditure is $3 billion, three times the amount paid a decade ago, and has doubled in just 2.5 years. Calling it a "crisis" is already an understatement.

ChainCatcher message, 10x Research posted on social media that while it remains optimistic about the medium to long-term prospects of digital assets, caution is needed in the short term. Although the market experienced a V-shaped recovery after declines in early May, early July, and early August, the underlying market structure and fundamentals have gradually weakened. As a result, each decline has become deeper, and the subsequent recoveries have been more moderate. The latest month-end data suggests that we may be approaching a critical turning point in September, characterized by a decline in demand.

ChainCatcher message, Ethereum co-founder Vitalik Buterin posted on social media, highly praising the latest developments in the Ethereum ecosystem. Buterin pointed out that Ethereum has made significant progress in several key areas:L2 network transaction fees have dropped below $0.01;The two EVM-compatible L2 networks, Optimism and Arbitrum, have entered their first phase;The user experience for cross-L2 wallets has greatly improved;ZK tools have become more powerful and mature, simplifying application development; second-generation privacy tools are beginning to emerge;The identity, reputation, and credential ecosystem is stronger and increasingly widely used;Advances in STARK technology enhance long-term security and decentralization prospects;The roadmap for account abstraction and block construction is clearer;Staking decentralization remains stable, debunking the claim that "PoS is more centralized than PoW."Buterin emphasized that these advancements have made Ethereum's fundamentals exceptionally strong.

ChainCatcher message, trader Eugene Ng Ah Sio posted on social media: "Regarding the new SOL 'killer', it involves the following topics:Price usually leads fundamentals;Most on-chain organic development activities are still in their infancy;An additional USP (unique selling proposition) may be needed, rather than 'cheaper and faster'."

ChainCatcher news, Jefferies Group economist Mohit Kumar stated in a report that the recent significant repricing of the money market regarding the Federal Reserve's interest rate cuts (with a potential cut of up to 125 basis points this year, which has eased on Tuesday) is an overreaction and does not reflect the fundamentals.It is expected that the Federal Reserve will neither cut rates by 50 basis points in September nor by 100 basis points or more this year, "despite aggressive measures, we believe the fundamentals have not changed significantly." Jefferies anticipates that the pricing in the money market will be reduced.

ChainCatcher news, according to CoinDesk, market observers say that the increase in trading activity and expectations for the development of Solana ETFs may be the reasons for Solana's recent strong performance.The SOL token has risen more than 18% in the past week, outperforming Bitcoin (BTC) and Ethereum (ETH), trading above $180 in early Monday trading, reaching a three-month high.Amberdata blockchain researcher Pat Doyle shared: "The Solana ecosystem is showing strong growth, evidenced by increased DEX activity, a rise in daily active users, and accumulating network fees. These strong fundamentals, combined with positive market sentiment, are driving SOL forward."

ChainCatcher news, Binance CEO Richard Teng emphasized the strong interest in Bitcoin and other cryptocurrencies, noting that Bitcoin exchange-traded funds (ETFs) listed in the U.S. over the past six months have attracted over $14.7 billion in net inflows. Teng highlighted the strong long-term fundamentals of the industry and urged the community to stay focused and continue building despite market volatility.

ChainCatcher news, Grayscale Research stated in its latest article that in June, ongoing and anticipated selling pressure from various sources has put pressure on Bitcoin and the broader cryptocurrency market, including the bankruptcy assets of Mt Gox, Bitcoin sales by the U.S. and German governments, and outflows from U.S. spot Bitcoin ETPs.However, it believes that the fundamentals of this asset class have not changed significantly. The listing of spot Ethereum ETPs seems to have made more progress. Although the specific timing is still uncertain, Grayscale Research believes these products will begin trading in the third quarter of 2024. Unless there is a significant change in the macroeconomic outlook, cryptocurrency valuations are expected to recover in the coming months.

ChainCatcher news, according to Cointelegraph, the founder and CEO of on-chain and market analysis company CryptoQuant, Ki Young Ju, stated that the Bitcoin network fundamentals can support its current market value at three times compared to the previous cyclical peak. Ki Young Ju believes that the price of Bitcoin "has the potential to maintain" at $265,000.

ChainCatcher message, CryptoQuant CEO Ki Young Ju posted on X that the market share of meme coins in the altcoin market has significantly declined. Similar to a few years ago, traders are starting to shift from speculation to focusing on fundamentals.

ChainCatcher news, 10x Research founder Markus Thielen stated on social media that BTC and ETH remain highly correlated in this cycle, with a correlation coefficient reaching 95%. The weak fundamentals of Ethereum are becoming a barrier for Bitcoin, as they hinder large-scale fiat inflows into the crypto ecosystem.Additionally, Markus Thielen mentioned that in the previous 2020/2021 cycle, ETH was a driving force, as Ethereum was supposed to replace the traditional banking system. The minting of NFTs opened up new areas for crypto adoption, which could have expanded to various personalized files on the blockchain, driving widespread "wallet" adoption. However, Ethereum developers did not respond quickly.