Week Financial News

 

UNI investors might be in for short-term upside potential as multiple bullish factors align, favoring a bullish outlook.

Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout.

Tuesday

With Bitcoin losing its $20k support level on the charts, eyebrows are finally starting to be raised. The market upturn that we saw in July has been diminished to downtrends in the Bitcoin community. The same can also be seen when looking at Bitcoin’s long-standing correlation with the equities market.

 

The price of Chiliz (CHZ) has surged by approximately 35% week-to-date (WTD) to reach $0.26 per token on Aug. 24. In doing so, the token has outperformed Bitcoin (BTC) and Ether (ETH), which have been wobbling between gains and losses in the same period.

The collapse of Terra [LUNA] foisted upon the general cryptocurrency market ‘extreme market conditions’ that have forced many major crypto lenders to declare bankruptcy.

Ethereum [ETH] is starting to rank among accolades lately as the Merge release date appears closer. The expected- 15 September launch has gripped the crypto community with huge promised incentives.

 

Bitcoin (BTC) has dropped by more than 13% this week and has failed to hold support at $22,000 after successfully breaching $25,000 in the interim. Ethereum (ETH) has dropped 18% weekly and is now trading near $1,600. Total crypto market cap is now hovering near $1 trillion. Given September is traditionally a red month for Bitcoin and crypto markets, investors are anticipating further pain before the final bottom is discovered. With Ethereum’s Merge scheduled for mid-September, the possibility of ‘sell-the-news’ event wiping out monthly gains in ETH is strong. As this bear market plays out, we look at some positives in terms of adoption and other stories of the week below.Buenos Aires to deploy Ethereum validator nodes Buenos Aires (capital of Argentina) is set to become one of the first public entities in the world to help run Ethereum’s network infrastructure. In 2023, the city will work with private enterprises to install validator nodes, which are machines running the Ethereum client software. The validators are responsible for storing data, processing transactions, and adding new blocks to the blockchain, which will become part of the proof-of-stake (PoS) network consensus system being implemented in conjunction with the Merge which is anticipated to take place in mid-September.

Bitcoin (BTC) starts a new week fresh from a new multi-week low amid a return of highly nervous sentiment.

Sudden crypto drop sends bitcoin to three-week low

Tuesday

 

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

New applications for unemployment benefits inched down last week, a sign the labor market is holding up as the broader economy shows signs of slowing.

Bitcoin [BTC] continues to surprise investors with new movements every day as the coin has been hovering near the $25K mark.

 

BNB token is beginning to lose attention in the market after another lacklustre week.

Ethereum rallying is a sign of prosperity for pretty much every altcoin. But what if that signal fails to sustain and takes a trip back down?