Odaily星球日报讯 10x Research 在其分析中表示，监控和分析加密货币资金流动对于评估市场状况至关重要，可能是比特币和其他加密货币上行或下行的指标。 由于广义货币流动在 2024 年 4 月初基本停止，因此预期随后的价格调整。然而，在市场接近底部之际，某些资金流的回升帮助提振了价格。关键因素是监测这些资金流动的可持续性，因为如果没有持续的支撑，反弹往往会失去动力。 昨晚，Tether 增发 10 亿美元的 USDT（尽管似乎是库存构建，而不是立即发行）。然而，上周早些时候，Tether 和 Circle 发行了近 28 亿美元稳定币，这表明一些机构投资者正在向加密市场注入新的资金。如果这种发行（不仅仅是铸造）的趋势继续下去，比特币可能会进一步上涨。

Odaily星球日报讯 10x Research 在其分析中表示，监控和分析加密货币资金流动对于评估市场状况至关重要，可能是比特币和其他加密货币上行或下行的指标。由于广义货币流动在 2024 年 4 月初基本停止，因此预期随后的价格调整。然而，在市场接近底部之际，某些资金流的回升帮助提振了价格。关键因素是监测这些资金流动的可持续性，因为如果没有持续的支撑，反弹往往会失去动力。昨晚，Tether 增发 10 亿美元的 USDT（尽管似乎是库存构建，而不是立即发行）。然而，上周早些时候，Tether 和 Circle 发行了近 28 亿美元稳定币，这表明一些机构投资者正在向加密市场注入新的资金。如果这种发行（不仅仅是铸造）的趋势继续下去，比特币可能会进一步上涨。

10x Research：稳定币增发表明机构注入新资金，若发行趋势持续比特币或上涨

Odaily reports that 10x Research's analysis indicates that monitoring and analyzing the flow of cryptocurrency funds is crucial for assessing market conditions, and may be an indicator of Bitcoin and other cryptocurrencies' upward or downward trends. Due to the basic cessation of broad money supply in early April 2024, a subsequent price adjustment is expected. However, the resurgence of certain fund flows as the market approaches the bottom has helped to boost prices. The key factor is to monitor the sustainability of these fund flows, as without continuous support, the rebound often loses momentum. Last night, Tether issued $1 billion in USDT (although it appears to be inventory building rather than immediate issuance). However, earlier last week, Tether and Circle issued nearly $2.8 billion in stablecoins, indicating that some institutional investors are injecting new funds into the cryptocurrency market. If this issuance (not just minting) trend continues, Bitcoin may rise further.

Odaily Odaily News 10x Research said in its analysis that monitoring and analyzing cryptocurrency fund flows is critical to assessing market conditions and may be an indicator of the upside or downside of Bitcoin and other cryptocurrencies. Since broad money flows essentially stopped in early April 2024, subsequent price adjustments are expected. However, as the market approaches the bottom, the recovery of certain fund flows has helped boost prices. The key factor is to monitor the sustainability of these fund flows, because without sustained support, rebounds tend to lose momentum. Last night, Tether issued an additional $1 billion in USDT (although it appears to be inventory building rather than immediate issuance). However, earlier last week, Tether and Circle issued nearly $2.8 billion in stablecoins, indicating that some institutional investors are injecting new funds into the crypto market. If this trend of issuance (not just minting) continues, Bitcoin may rise further.

10x Research: The issuance of stablecoins indicates that institutions are injecting new capital, and if the issuance trend continues, Bitcoin may rise.

Coinbase Research's new report indicates that macroeconomic pressures have had a severe impact on the cryptocurrency market. Analysts predict that the market will remain fragile in the coming weeks due to a lack of catalysts to drive price increases. This has caused unease among many investors as the global economic environment is changing.

Table of Contents
- Impact of Macroeconomic Factors
- Third Quarter Strategy

Impact of Macroeconomic Factors
The report emphasizes the increasing dependence of the cryptocurrency market on broader economic events. Recently, the Bank of Japan's decision to raise interest rates was seen as the unwinding of the yen carry trade...

Coinbase Research: Macroeconomic instability, heavy market pressure in the coming weeks.

According to the market analysis by 10x Research, explaining trends is particularly challenging at critical moments in the economy and financial markets, as old narratives are questioned and new ones are gradually forming. During this period, traders and investors must closely monitor market signals. It is crucial to recognize that the market often focuses on a mainstream narrative before shifting attention to the next topic. Understanding this dynamic is essential for effectively following the market transformation.

After the sale of BTC in Germany at the end of June, the market's concerns shifted to the impending compensation of Mt.Gox in early July. With the attack on Trump and his subsequent choice of Bitcoin holder JD Vance as the vice presidential candidate, the story took a dramatic turn. As Trump's chances of being elected surged to 70%, Bitcoin's price was closely linked to these political developments. However, this momentum was abruptly halted when President Biden announced on July 21 that he would not run for president in 2025.

Following the discussion of Bitcoin strategic reserves, Bitcoin once again broke through the $70,000 mark, raising high expectations for Trump's speech at the Nashville Bitcoin conference. Unfortunately, the speech did not live up to the hype. When the US government transferred $2 billion worth of Bitcoin, the Bitcoin rally came to an end. The trading range of $60,000 to $70,000 has remained stable, but a significant shift in this range is imminent.

10x Research: Bitcoin may see a major change in the trading range of $60,000 to $70,000.

Odaily reports that BitMEX's Chief Growth Officer Raphael Polansky stated an interesting fact: over the past 170 days (0.5 years), Bitcoin has been trading within a 25% range. Since July, Bitcoin's implied volatility has soared due to some major industry and macroeconomic events, including concerns about a US recession, Trump's official support for Bitcoin, the yen rate hike, and healthy ETF inflows. However, now in mid-August, Bitcoin's trading price is still stable around $60,000.