We are a week away from the monthly closing of the #cryptocurrency market and the sentiment that is breathed is still neutral.

For these weeks, #Bitcoin broke the support of $29,639.54 and closed well below $28,964.32. For the next week, it is important to watch for the supports of $28381.85 and $27868.63.

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Top #Exchanges by Liquidations in last 7 days

The vast majority of the casualties were long positions last days, with almost $435M liquidated in total. Let’s take a look at the top exchanges by liquidations of longs and shorts within last week, according to #Coinglass.

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In Q2’23, #Ethereum and Tron dominated featured L1s revenue, accounting for 93%.

Ethereum's revenue surged 85% QoQ, fueled by meme coin trading.

#TRON's revenue increased steadily without significant spikes

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#Bitcoin Holdings on Centralised Exchanges Down 4.3% Since the Beginning of the Year🔻, according to #cryptorank.

Bitcoin holdings on centralised exchanges continue to fall, down 4.3% year-to-date (YTD). Investors are accumulating BTC and are unwilling to sell at current market prices.

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Examining the daily timeframe, with today’s dip below the local range, #bitcoin has breached the lower #BollingerBand.

The question remains whether this movement is a deceptive dip or a definitive breakdown following extensive consolidation.

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#Tezos is making significant progress in its rollup infrastructure roadmap, with the introduction of WASM rollups and an EVM-compatible rollup on #testnet.

Multiple teams have committed to building rollups, and core developers announced a strategic shift to hybrid optimistic/zk rollups.

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Federal Reserve #FED lived up to its promise of raising interest rates despite hitting a pause at the last meeting.

The Federal Open Market Committee (#FOMC) today announced a 0.25% rise in the Fed Funds target rate to 5.25-5.50%.

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#BNBChain’s daily average active addresses reached ~1.4 million and increased by 25.6% QoQ.

Average new unique addresses increased 91.1% QoQ and reached all-time highs after a spike in activity in late April.

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In some ways #Ethereum’s metrics have slumped over the past year. But in other ways, the world’s second-largest blockchain is thriving.

According to the newsletter #Bankless, Ethereum’s network revenue fell to $847 million in the second quarter, down 33% from a year earlier...

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#Bitcoin data often displays strangely repetitive patterns, cycle after cycle. In the 2021-22 cycle, the $30,000 price level has formed a "midpoint" and has been tested multiple times both from above and below.

A very similar level was seen in 2013-16 around the $425 level a...

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From: rubikkav.nft

#BTC approaching another test of support on short-term holders' cost base.

After breaking resistance in January, it has served as support twice in 2023.

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Since the beginning of 2023, #Ethereum’s network value-to-transaction value (#NVT) metric has indicated that the asset may have been overpriced.

#Glassnode’s NVT signal gauges the relative value of the Ethereum network by comparing the market price to the volume of on-chain transactions. A higher NVT reading implies that ETH could be trading at a premium.

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Over the next couple of weeks, we should see long term #Bitcoin holders step up again as we get closer to the SVB meltdown as the price has moved from $25,000 to $20,000. LTHs already rising = 14.5M/76% circ supply.

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Analysis of the #Whale #Netflow to #Exchanges can be used as a proxy for the cohorts influence on the supply and demand balance for #Bitcoin, according to #Glassnode.

Whale-to-exchange netflows have tended to oscillate between ±5k BTC/day over the last five years.

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State of #BNB Chain Q2 2023.

▫️BNB Chain’s average daily active addresses and transactions increased by 25.6% and 24.4%, respectively. The growth was primarily driven by a rise in activity from LayerZero.

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Based on data from crypto intelligence tracker #Santiment, daily active addresses on #Litecoin hit a peak in May and also increased somewhat in June, but dropped to an average level in the week 4 of July.

Address activity hasn’t been significant recently, as seen in the chart below, and the spike in trade volume registered in the first week of July has failed to catalyze a recovery in the altcoin’s price.

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Derivatives giant Chicago Mercantile Exchange's (#CME) regulated #bitcoin (#BTC) and #ether (#ETH) futures saw record participation from large traders in the second quarter.

The number of large open interest holders, or entities holding at least 25 bitcoin futures contracts, averaged a record 107 in the second quarter, the CME said in an email to CoinDesk. Ether's so-called large open interest holders averaged 62 through the second quarter.

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The #GDP likewise had little impact on market expectations for where Fed policy would go at the next interest rate decision point in September.

On the day, odds of rates pausing at their current 5.25-5.5% stood at 76%, with a 24% likelihood of another 0.25% hike, according to #CME Group’s #FedWatch Tool.

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#Crypto markets have become more concentrated over the past three years, with the bulk of trading activity in 2023 happening on just one exchange — #Binance, according to #kaiko.

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👉 Both #BTC and #ETH have seen a decline in 90-day realized #volatility this year.

📈Currently, its volatility levels are hovering around two-year lows.

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Monthly delivery is just around the corner and volatility has dropped to historic lows this month, with Dvol already approaching 35%.

Every summer is a period of relatively low volatility and this year is no exception, but the historical trend suggests that current levels of low volatility will not last much longer and that the market is always finding new hot spots.

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