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Market Update | August 24thHey everyone,
@CryptoData2017 here
Fear and Greed rose to 74 from 67, still Greed, and the crypto market extended last week's rally, Bitcoin's biggest weekly dollar gain ever. Friday brings Kevin Warsh's first Jackson Hole speech as Fed chair and the core PCE inflation report. The 10-year yield has fallen to 4.71%, cutting what cash pays and pushing money into risk.
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Key News Events• Strategy raised $2 billion selling MSTR shares into a cash pool, a buffer at the biggest Bitcoin treasury.
• Bitmine bought 32,447 ETH, $81 million, its biggest weekly buy since July.
• A Solana validator vote would lift daily SOL burns to $800,000 and tighten supply.
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SummaryI am tentatively bullish after Bitcoin and Ethereum cleared yesterday's highs, but I am not buying up here. All three majors are overbought, Ethereum strongest, Solana weakest. Bid major support on the daily and weekly charts.
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