Bitcoin, Ethereum, Dogecoin Trade Lower, But ‘August Will Be Great’ If Bitcoin Holds On To This Key Level

Cryptocurrency markets are trading lower as Indian crypto exchange WazirX got exploited for a $230 million loss.

Notable Statistics:

• IntoTheBlock data shows large transaction volumes decreased by 26.1% and daily active addresses dropped by 3.4%. However, exchange netflows rose by 101.2%.
• Coinglass data noted 49,154 traders were liquidated in the past 24 hours for $138.5 million. Short crypto liquidations ($33 million) came in at their lowest since July 7.
• Crypto chart analyst Ali Martinez revealed that 120,000 BTC, worth $7.2 billion, were withdrawn from crypto exchanges in the past two weeks.
• In another post, Martinez stated that Bitcoin miners sold 1,970 BTC in a few days amid Bitcoin rising above $60,000.
• Cryptoquant founder & CEO Ki Young Ju noted that Bitcoin’s retail investor demand is at 3-year low.

Notable Developments:

Top Losers:

Trader Notes: CEO/Founder Max of Because Bitcoin sees $62,750 as a “huge level” for Bitcoin and there are three technical factors. He added that if the market can bull chop and hold above then August will be great. However, in the worst case, “BTC can visit the yearly VWAP one more time, but we’d need a quick buyback if we went down there.”

Crypto and blockchain investor, Crypto Batsman revealed that the Bitcoin ETF issuers purchased 32,410 BTC, worth $2 billion. He predicts Q3 “shaping up to be very bullish for crypto space” as the Ethereum ETF and Bitcoin conference are happening next week.

On the contrary, Altcoin Sherpa predicts a bearish retest for Bitcoin.

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