Bitget Research Institute: US BTC ETF has a net outflow of US$1.015 billion in seven days, and risk aversion continues t

In the past 24 hours, many new hot currencies and topics have appeared in the market, and it is very likely that they will be the next opportunity to make money.

The current price of Bitcoin is $56,300, down 5% from last month, and the Bitcoin spot ETF has a net outflow of $1.015 billion in seven days. Among them:

• The sectors with strong wealth-creating effects are: AI sector, SOL Meme coin;

• The most popular tokens and topics searched by users are: Aleo, Yuga Labs;

• Potential airdrop opportunities include: Zircuit, Symbiotic;

Data statistics time: September 6, 2024 4: 00 (UTC + 0)

1. Market environment

Bitcoin is currently trading at $56,300, down 5% from last month and more than 23% from its all-time high of $73,500 six months ago. According to Farside Investors, Bitcoin spot ETFs saw a net outflow of $1.015 billion in seven days, and the upcoming easing cycle has so far not inspired any enthusiasm to push prices higher. In the past few weeks, each rate cut signal has only temporarily broken Bitcoins downward trend. The market is generally quiet.

So far, the manufacturing PMI, the Fed Beige Book and the ADP August employment report have all shown a weaker economy, which has strengthened the possibility that the Fed may adopt a bolder easing policy. According to CME FedWatch data, the probability of a 50 basis point rate cut is 44%, compared with 34% a week ago. With the expectation of a larger rate cut, it is expected to boost the Bitcoin market.

2. Wealth-creating sector

1) Sectors that need to be focused on in the future: AI sector

main reason:

• Tadao Nagasaki, CEO of OpenAIs Japanese subsidiary, revealed that OpenAIs new generation model code-named GPT-Next is expected to be 100 times more powerful than the existing GPT-4 model and is scheduled to be released later this year.

• SSI, a new AI company founded by the former chief scientist of OpenAI, has completed a $1 billion financing, with a16z and others participating in the investment. The enthusiasm for financing in the AI market remains high.

Factors affecting the market outlook:

• Nvidias subsequent trend: Nvidia is a bellwether of the AI track, affecting the markets overall valuation of the AI track. If Nvidia continues to rebound in the U.S. stock market tomorrow, the AI sector of the crypto market is expected to continue to rebound;

• Impact of news: Pay attention to the product updates and partnerships recently promoted by the project party. If an AMA is held, you can consider deploying related assets in advance, because there is a high probability that good news will be released in the near future using the improved liquidity environment.

2) The sectors that need to be focused on in the future: SOL Meme Coin (WIF, BONK, POPCAT)

main reason:

• The Solana Foundation announced the launch of the “Radar” hackathon competition, and registration is now open on the Colosseum platform;

• Binance plans to launch a Solana (SOL) staking product by the end of September, while Bitget is also about to launch a liquid staking token;

Specific currency list:

• WIF: Solana ecosystem’s Meme coin, previously listed on Robinhood. The SOL token rises, and generally the Solana head MEME coin rises faster;

• BONK, POPCAT: The core meme coins on Solana. The transaction volume has increased recently. The transaction demand is relatively high, and there is room for token layout.

3. User Hot Searches

1) Popular Dapps

Aleo:

Aleo, a programmable privacy network, announced the airdrop targets and token claiming process of the incentive plan, and will open the claiming of reward tokens to eligible participants after the mainnet launch. Aleo is a developer platform for building fully private, scalable and cost-effective applications. Using zero-knowledge cryptography, Aleo moves smart contract execution off-chain to enable a variety of decentralized applications that are both fully private and can scale to thousands of transactions per second.

2) Twitter

Yuga Labs:

Greg Solano, co-founder of Yuga Labs and BAYC, who recently took over as Yuga Labs CEO, said the company is rethinking its roadmap with a new set of initiatives called BluePrint.

The Bored Ape Yacht Club-themed project will launch a consumer application to attract new users and inspire community building on the upcoming ApeChain network, which a Yuga Labs employee confirmed is “coming soon.”

3) Google Search Region

From a global perspective:

Jupiter:

Solana ecosystem DEX aggregator Jupiter announced that spot trading has integrated the token issuance platform Moonshot, and users can now use a full set of spot trading tools including limit orders, DCA and value averages. Jupiter co-founder Meow posted on the X platform that encryption is an extremely difficult game.

From the hot searches in each region:

(1) There is a certain amount of meme search popularity in Europe, America and the English-speaking region: In Canada, Australia, the Netherlands and Poland, the attention to hot words is relatively scattered, with some attention paid to Blum, Yescoin, etc., and hamster kombat appeared in the hot search terms in the UK;

(2) There are no obvious hot spots in Asia, Latin America and other regions, and the hot search terms are scattered. A few countries mentioned the TON meme ecological game, as well as Jupiter, Solana, etc.

Potential Airdrop Opportunities

Zircuit

Zircuit is a parallel and AI-integrated Layer 2 public chain project based on zkRollup. It is invested by Pantera and Dragonfly. The current TVL of the project has exceeded 1.1 billion US dollars. Zircuits current ecosystem is gradually improving, and it already includes functions such as staking, cross-chain bridges, and browsers. Users can also obtain airdrop qualifications by participating in ecosystem construction and community interaction.

Specific ways to participate: 1) Enter the staking page (https://stake.zircuit.com/) to participate in staking to win points; 2) Participate in node deployment to win points (https://build.zircuit.com/build).

Symbiotic

Symbiotic is a general purpose restaking project that enables decentralized networks to bootstrap powerful, fully sovereign ecosystems. It provides a method for decentralized applications, called Active Validation Services or AVS, to collectively ensure the security of each other.

Symbiotic recently completed its seed round of financing, with Paradigm and Cyber Fund participating in the investment, with a financing amount of US$5.8 million.

How to participate: Go to the project’s official website, link your wallet, and deposit ETH and ETH LSD assets.

More information about Bitget Research Institute: https://www.bitget.fit/zh-CN/research

Bitget Research Institute focuses on focusing on on-chain data and mining valuable assets. It mines cutting-edge value investments through real-time monitoring of on-chain data and regional hot searches, and provides institutional-level insights for crypto enthusiasts. So far, it has provided Bitgets global users with early-stage valuable assets in multiple popular sectors such as [Arbitrum Ecosystem], [AI Ecosystem], and [SHIB Ecosystem]. Through in-depth data-driven research, it creates a better wealth effect for Bitgets global users.

【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.

This article is sourced from the internet: Bitget Research Institute: US BTC ETF has a net outflow of US$1.015 billion in seven days, and risk aversion continues to increase. It is recommended to wait and see

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