TGIF!

What a week it's been. Just when everyone thought Bitcoin was headed for a rough patch (thanks to macroeconomic conditions), it surprised us all.

We saw a 25% rebound in three days. That's the kind of volatility that keeps crypto interesting, right?

So was it the ultimate bear trap? Let's break it down.

Here's a quick rundown of what's making waves in the crypto world:

• Bitcoin hit $62K after Monday's dip. Some strong bullish signs are emerging in the market.  📈

• Ethereum and Solana also posted gains after a bloodbath. Is it the start of a bull run? What do the indicators suggest? 🔼

• Franklin Templeton moved a fund to Arbitrum. So Arbitrum could become the hub of RWAs?  💼

• Brazil gave the green light to a spot Solana ETF. When will the US regulators follow suit? 🇧🇷

• Hamster Kombat announced a major airdrop. But what exactly are the eligibility criteria and how many tokens will each user get?  🎁

And in the end, we'll analyze recent market movements and what should investors watch out for. 🔍

Sign Me Up For Alphas!

Let's dig into these stories!

Bitcoin's Epic Comeback: From $49K to $62K in 72 Hours

Bitcoin just pulled off a classic "uno reverse" move.

After Monday's dip that made us all hit the panic button, BTC decided it wasn't done yet.

The OG crypto touched $62,510 on August 8, wiping out most of its losses from the $49,500 dip earlier this week.

That's a 25% rebound, proving that in crypto, three days is basically a lifetime.

Traders are calling it the "ultimate bear trap."

And some strong bullish signs are emerging in the market. Read the full story!

And the Entire Market Follows Bitcoin’s Moves…

With Bitcoin hitting $62k, Ethereum jumped 9% to $2,673. Solana joined the rally too, hitting $158 and proving it's got the staying power.

This sudden rally comes after a week that had hodlers questioning their life choices. A gloomy jobs report and a beefed-up Japanese yen had sent investors scrambling for the exits, ditching risky assets.

But Thursday's plot twist changed everything.

Fresh data showed unemployment claims dropping, and just like that, recession fears went *poof*.

Wall Street caught the optimism bug, with the S&P 500 and Nasdaq posting gains.

The altcoin scene wasn't about to let the big boys hog all the glory. Dogecoin reminded everyone why it's the OG memecoin with a 7% pump. Toncoin also surged 15%.

But the real MVP? XRP.

It skyrocketed 26% after Ripple's legal battle with the SEC ended in what can only be described as a "you call that a fine?" moment.

Is it the start of a bull run? What do the indicators suggest? Read the full story!

Time for Arbitrum to Shine Again!

Wall Street giant Franklin Templeton just announced that they've taken their OnChain U.S. Government Money Fund (FOBXX) to Arbitrum, Ethereum's speedy little brother.

FOBXX lets you trade shares peer-to-peer on the blockchain.

It's been hopping chains quite a lot though - from Stellar to Polygon, and now Arbitrum.

So Arbitrum could become the hub of RWAs? Read the full story!

Spot Solana ETF Approved - But Not in the US…

Brazil just won the spot Solana ETF race, while the US is still stuck in regulatory limbo.

This ETF tracks the CME CF Solana Dollar Reference Rate. In other words, it's bringing Wall Street-level legitimacy to the blockchain that's been dubbed "the Ethereum killer."

Meanwhile, across the border, US firms like VanEck and 21Shares are twiddling their thumbs, waiting for the SEC to make up its mind.

Some analysts are saying the US might need a whole new president before we see a Solana ETF stateside.

And while all this is going down, Canada's out here trying to one-up everyone with a Solana ETF that actually stakes the SOL.

So Canada is in on this Solana ETF race too? Read the full story!

Hamster Kombat Drops Airdrop Deets

Hamster Kombat just spilled the beans on their crypto airdrop.

This isn't just an average token giveaway – we're talking about the "largest airdrop in crypto history" levels of hype.

The game's Telegram Mini App now has an airdrop section that's quite detailed.

But what exactly are the eligibility criteria and how many tokens will each user get? Read the full story!

Time for a Quick Markert Analysis!

Just a few days ago, Bitcoin took a dive from $64K to under $50K. Now? It's back up to $61,000 (-ish).

This rapid recovery is confusing everyone.

So let's dive into what's happening.

Here is a TLDR for those in a rush:

• On-chain data shows institutional investors accumulated during the dip, while retail investors panicked

• Only 7% of short-term holders are currently in profit

• The market found support at $51,200, the "Active Investor Price"

• $365 million in futures contracts were liquidated in one day

• Net Unrealized Profit/Loss (NUPL) dipped into negative territory, indicating investor anxiety

• Rapid recovery suggests strong underlying demand, especially from larger investors

• Recommendations: Monitor whale behavior, stick to long-term strategies, and watch for institutional involvement

Now let’s dive into the data!

The Crypto Fear & Greed Index has bounced back to 58, signaling a neutral market sentiment. That's a huge shift from the "Extreme Fear" we saw earlier this week.

And here's the interesting part: while retail investors were panicking during the dip, on-chain data shows the big players were quietly accumulating.

This divergence between retail and institutional behavior during the dip might explain the quick recovery we're seeing now.

Glassnode data reveals that this dip hit new investors hard - only 7% of what Glassnode calls "Short-Term Holders" are in profit right now, indicating ​​the notable degree of financial stress amongst recent buyers.

But here's the interesting part: the market found support around $51,200, which Glassnode calls the "Active Investor Price." This suggests some strong buyers stepped in when prices dipped this low.

We also saw a huge shake-out in the futures market, with $365 million in contracts liquidated in one day. This kind of clear-out often sets the stage for what happens next in the market.

The Net Unrealized Profit/Loss (NUPL) for Bitcoin dipped into negative territory (yellow) during this recent correction, indicating that the investors are anxious in the market.

So, where are we heading? The rapid recovery suggests strong underlying demand for crypto, especially from larger investors.

But as always in the crypto world, nothing is certain. The market remains as unpredictable as ever.

What Should You Do?

Given these recent developments, here are some ideas to consider:

Keep an eye on whale behavior. Their actions during dips can often signal future price movements. You can use the Bitcoin analytics section to do so.

Don't let short-term volatility shake you out of your long-term strategy. This recent swing shows how quickly things can change.

And watch for signs of institutional involvement. Their growing presence could mean more stability (and potentially growth) in the long run.

And that's a wrap!

Before you head out, take a sec to sign up for our newsletter below, and become the first ones to receive alphas straight to your inbox!

Sign Me Up For Alphas!