China's foreign exchange reserves in August

The BitVM bridge has been successfully implemented on the Bitcoin Mainnet, demonstrating its capability to handle non-standard transactions. Two real-time applications showcased its security and feasibility, verifying the effectiveness of collaboration with Mining Pools, laying the foundation for Bitcoin Decentralized Finance applications.

The BTC ecosystem technology is developing rapidly, with multiple scaling solutions showing potential. Since the first quarter of 2024, although the speculative enthusiasm for the BTC ecosystem has cooled down somewhat, progress on the technical front has been very rapid, especially in terms of programmability expansion solutions. This article will introduce several highly anticipated BTC expansion solutions, including Fractal Bitcoin, AVM, OP_NET, BRC100, and programmable runes. Fractal Fractal is a scalable framework based on the virtualization of the bitcoin core client software, which improves the overall performance of the network by recursively creating a tree structure. It is fully compatible with Bitcoin but activates the op_cat operator, allowing for more logic to be implemented. Fractal is developed by a certain team and is expected to launch its mainnet in September 2024. In its token economics, 50% is generated by mining, 1

This Monday, the crypto assets market presented a complex situation. On the macroeconomic side, although there is controversy surrounding the non-farm payroll data, it may not directly influence Fed Chair Powell's interest rate decision. The key factors that will truly determine the final outcome are the consumer price index (CPI) and the direction of tariff policies. From a technical analysis perspective, the market's performance in the morning session shows that the rebound strength on the hourly K-line chart is insufficient to support the price reaching the 116,000 level. It is still uncertain whether the gap around 111,800 will be filled. The overall market trend is still in a recovery phase, and this recovery trend is difficult to judge simply as right or wrong. It is worth noting that there may be a downward probing trend below the 11,400 level during the afternoon trading session. It is worth noting that Ethereum ETFs have shown a net inflow for 12 consecutive weeks, indicating sustained investor interest in this asset class. At the same time, the market is closely watching the potential new tariff policies that the U.S. may introduce, as well as news regarding the new nominees for the Fed's board. These factors could significantly impact the Crypto Assets market. Overall, the market trend this Monday will continue to be influenced by multiple factors, and investors need to closely monitor various economic data and policy developments in order to make informed investment decisions.

The US stock market has recently shown a rare sustained pump momentum, with the S&P 500 index remaining above the 20-day MA for 68 consecutive trading days. This performance sets a record for the longest stretch since 1990, highlighting the strong momentum in the current market. Many market analysts believe that this unusual persistence may signal an upcoming pullback. They generally expect that the main purpose of this pullback will be to correct the gap with the 20-day MA. Typically, this correction process may manifest as sideways consolidation or a slight decline. However, it is worth noting that despite the market potentially facing short-term adjustments, the overall trend remains positive. Investors should stay vigilant while also recognizing the current resilience of the market. For investors preparing to participate in August trading, margin management will become key. As long as there is enough margin maintained, it can effectively reduce the risk of liquidation even amidst potential fluctuations. This reminds us that the importance of risk management is even more pronounced during periods of increased market volatility. Overall, although the market may face short-term adjustments, long-term investors may see this as a potential buying opportunity. At the same time, short-term traders need to be more cautious, closely monitor market trends, and adjust their strategies at any time.

With the arrival of August, the Crypto Assets market is facing new opportunities and challenges. In July, the net inflow of the US Crypto ETF reached a staggering $12.8 billion, setting a new historical high, which undoubtedly injected strong momentum into the market. However, we can't help but ask: can this incremental funding be sustained? If it can be maintained, Bitcoin returning to its historical highs seems to be just a matter of time. However, historical data shows that August and September are usually periods of relatively weak Bitcoin performance, often accompanied by sideways movement, pullbacks, and emotional divergence. Currently, the US stock market remains at a high level, and Trump's remarks on tariffs and geopolitical conflicts may trigger systemic risks. Therefore, we must remain vigilant. Given that there are no important economic data releases this week, I personally suggest adopting a strategy that is primarily defensive with some offensive elements, focusing on spot trading, and waiting for further developments in US policy, such as positive news regarding Bitcoin being included in reserves or ETF expansion. It is worth mentioning that recently there were traders who made over 12 million USD in profits from short positions, but ended up giving it all back because they did not close their positions in time. This once again confirms the reality of greed and fear coexisting in trading. Therefore, we should remain rational: do not panic during significant pullbacks, see them as opportunities; if a rebound hits new highs, we should also learn to cash out at the right time and not be greedy. From on-chain data, a large amount of Bitcoin is continuously being bought and withdrawn, indicating that major funds are still positioning for long-term investment. In terms of investment direction, Bitcoin, BNB, and SOL remain the primary choices, and it is advisable to temporarily avoid small coins and altcoins to prevent greater losses during market corrections. No matter how the market changes, maintaining calm, conducting rational analysis, and managing risks moderately are the keys to success in this crypto assets market full of opportunities and challenges.