Decentral Block Post

Digital asset investment products saw $55 million in outflows for the week of September 13-19, according to a report from CoinShares. 

Optimism surrounding what was previously thought to be the impending approval of a spot-based Bitcoin exchange-traded fund has begun to give way as $42 million worth of the week’s outflows came from BTC alone.

Ethereum products didn’t fare much better given its market share. Ether funds saw $9 million in outflows, while Polygon, Litecoin and Polkadot also saw outflows totaling a combined $2 million.

The only cryptocurrencies to experience inflows for the week were Ripple and Cardano. The former saw $1.2 million in inflows and Cardano pulled in a modest $100,000.

Related: Bitcoin ETFs: A beginner's guide to exchange-traded funds

After the sharp fall on Aug. 17, Bitcoin (BTC) remained stuck inside a tight range over the weekend. This suggests indecision between the bulls and the bears about the next directional move. 

After the latest fall, about 88% of Bitcoin held by Short-term Holders (STHs), owning Bitcoin for 155 days or less, has plunged into loss, according to Glassnode’s weekly newsletter, “The Week On-Chain.” Glassnode warns that the STH cohort is “increasingly price sensitive.”

In comparison, the long-term holders have neither panicked nor gone on a shopping spree during the current fall.

Traders are likely to keep a close watch on the United States Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole Economic Symposium on Aug. 25. If Powell does not spring a negative surprise, then the event may turn out to be bullish for risky assets. History suggests that U.S. stocks generally rise in the week after Jackson Hole.

What are the important support and resistance levels to watch for in Bitcoin and altcoins? Let’s analyze the charts to find out.

More than $40 billion in investor assets were lost in the crash between May 5 and May 13, 2022. Less than a year later, Do Kwon was arrested after allegedly attempting to flee prosecution for criminal activity associated with the losses.

Volumes have since been written discussing the breakdown, which saw the Luna coin plummet and Terra’s UST stablecoin de-pegged from the U.S. dollar.

Now, for what appears to be the first time, scientists have applied statistical mechanics to essentially reverse-engineer the crash using the same techniques used to study particle physics.

The research, conducted at King’s College London, concentrated on transaction events and orders occurring during the crash. Per the team’s preprint research paper:

“We view the orders as physical particles with motion on a 1-dimensional axis. The order size corresponds to the particle mass, and the distance the order has moved corresponds to the distance the particle moves.”