luggis

According to Jinshi reports, Federal Reserve official Goolsbee stated that although the current job market is stable, the overall economic situation is not prosperous.

According to Coinglass data, the Coinbase Bitcoin premium index has been in negative premium for 13 consecutive days, currently reported at -0.0903%, with purchasing power in the U.S. market continuing to be sluggish.The Coinbase Bitcoin premium index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price. A negative premium typically reflects significant selling pressure in the U.S. market, a decline in investor risk appetite, increased market risk aversion, or capital outflows.

According to on-chain analyst @ai_9684xtpa, the Ethereum whale luggis (@luggisdoteth) has awakened after a year of dormancy, suspected of selling ETH.A year ago, he redeemed 5,566 ETH staked from Lido (when the ETH price was $2,210.84) and had not made any transactions until 2 hours ago when he deposited 2,000 ETH into Binance, approximately $4.08 million. It is unknown whether the remaining 3,567 ETH in the wallet will also be transferred out.

According to Onchain Lens monitoring, after being silent for 2 months, the address luggis (@luggisdoteth) (0x5d7...0b37) deposited 2000 ETH into Binance, worth 4.03 million dollars.

The Coinbase Bitcoin Premium Index has been in negative premium for 8 consecutive days, currently reported at -0.0573%, as purchasing power in the U.S. market continues to be sluggish.The Coinbase Bitcoin Premium Index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price. A negative premium typically reflects significant selling pressure in the U.S. market, a decline in investor risk appetite, increased market risk aversion, or capital outflows.

According to The Block, the Algorand Foundation announced a 25% staff reduction on March 18, 2026. The foundation stated that this layoff is a measure to respond to global macroeconomic uncertainty and the overall downturn in the cryptocurrency market, and it is not a hasty decision. It is reported that the total number of employees at the foundation is less than 200.Currently, the foundation holds approximately $38 million in dollar-denominated assets and 1.1 million ALGO tokens, with ALGO having a market capitalization of about $805.8 million, ranking 78th globally. The foundation stated that it will continue to focus on the long-term development and ecosystem construction of the Algorand protocol. This layoff is a reflection of the recent wave of layoffs in the cryptocurrency industry, with several projects such as OP Labs, Messari, and Block also announcing layoffs recently.

According to Jinshi reports, the Federal Reserve FOMC statement pointed out that employment growth has remained sluggish in recent months, and the unemployment rate has remained basically unchanged.

According to Coinglass data, the Coinbase Bitcoin Premium Index has once again set a record for the duration of recent negative premiums, remaining in negative territory for an extended period, currently reported at -0.0335%, surpassing the approximately 30 days of continuous negative premium during the "1011 crash."Since 2026, the index has recorded positive premiums on only 2 trading days. The Coinbase Bitcoin Premium Index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price; negative premiums typically reflect significant selling pressure in the U.S. market, a decline in investor risk appetite, heightened market risk aversion, or capital outflows.

According to Jinshi reports, Federal Reserve's Barkin stated that the latest employment data shows moderate job growth, and the hiring environment remains sluggish. Data released by the U.S. Bureau of Labor Statistics indicates that employers added 50,000 jobs last month, with the unemployment rate slightly decreasing to 4.4%. Barkin pointed out that the balance between moderate job growth and labor supply continues, but attention must be paid to the risks of rising unemployment and persistently high inflation.

The cryptocurrency market analysis agency Santiment stated that as traders' fear continues to rise, the crypto market may experience an "unexpected rebound" in November. Historical data shows that when the market is generally in panic, funds often flow from the "weak hands" to long-term holders (i.e., "diamond hands"), thereby accumulating momentum for a rebound.Santiment believes that this deterioration in sentiment may actually be "good news for patient investors," as long-term holders take the opportunity to accumulate when more panic selling occurs in the market. "When the public turns negative on assets, especially the highest market cap cryptocurrencies, it usually means the market is approaching a capitulation point.""Once retail investors sell, key holders will take the opportunity to absorb the chips and push prices up. It's not a question of 'if it will happen,' but rather 'when it will happen.'"Santiment's data shows that the overall sentiment towards crypto assets on social media has declined, but this is, in fact, a typical contrarian signal.

According to data from Coingecko, the trading volume in the crypto market remains sluggish. In the past 24 hours:The total trading volume on centralized exchanges (CEX) was $164 billion, down 53.85% from the previous day;The total trading volume on decentralized exchanges (DEX) was $10.9 billion, down 13.88% from the previous day;The total trading volume for derivatives (Futures) was $639 billion, down 9.19%;The total trading volume for perpetual contracts (Perp DEXs) was $37.7 billion, down 2.63%.

ChainCatcher news, according to Jinshi Data reports, the number of initial jobless claims in the U.S. decreased last week, but the job market has lost its luster due to sluggish hiring.The U.S. Department of Labor announced on Thursday that for the week ending September 20, the number of initial jobless claims decreased by 14,000, seasonally adjusted, to 218,000. Due to the uncertainty brought by protectionist trade policies, although companies are hoarding workers, they are still reluctant to increase headcount. Protectionist trade policies have raised the average tariff in the U.S. to the highest level in a century. Weak labor demand has undermined the resilience of the labor market, prompting the Federal Reserve to cut interest rates again last week.The Trump administration's crackdown on immigration has also reduced labor supply, suppressing job growth. Initial jobless claims show that for the week ending September 13, the number of continuing claims decreased by 2,000, seasonally adjusted to 1.926 million. The average duration of unemployment rose from 24.1 weeks to 24.5 weeks in August, the longest since April 2022, and the unemployment rate rose to 4.3%, the highest point in nearly four years.

ChainCatcher message, according to SoSoValue data, influenced by the unexpected U.S. August PMI and hawkish statements from Federal Reserve officials, the expectation for a rate cut in September has cooled, and the crypto market has generally declined, with only the SocialFi sector rising slightly by 0.73%. Within this sector, Toncoin (TON) increased by 1.92%. Additionally, Bitcoin (BTC) fell by 1.54% in 24 hours, dropping below $113,000. Ethereum (ETH) decreased by 1.80%, maintaining a narrow fluctuation around $4,200.In other sectors, the CeFi sector dropped by 2.32%, but within the sector, OKB and Huobi (HT) surged by 29.43% and 292.01%, respectively; the PayFi sector fell by 2.86%, with Ultima (ULTIMA) rising for three consecutive days, peaking at 19.17%; the Meme sector declined by 3.13%, with Pump.fun (PUMP) dropping by 7.38%; the Layer1 sector decreased by 3.17%, the DeFi sector fell by 3.37%, and the Layer2 sector dropped by 3.94%, but SKALE (SKL) rose by 10.86%.The crypto sector index reflecting historical market trends shows that ssiSocialFi increased by 0.98%; ssiCeFi and ssiLayer1 indices fell by 1.38% and 2.38%, respectively.

ChainCatcher news, Bitwise CEO Hunter Horsley posted on the X platform that the price of Bitcoin has reached $94,000, yet------the search volume for "Bitcoin" on Google is close to long-term lows. This is not driven by retail investors. Institutions, investment advisors, corporations, and national entities have all entered the market. The types of investors buying Bitcoin are becoming increasingly diverse.

ChainCatcher message, TRON founder Justin Sun posted on platform X, stating, "The current price of Ethereum is low, but there are no plans to sell Ethereum holdings. TRON will continue to seek opportunities to collaborate with more Ethereum developers to build the industry together."

ChainCatcher news, according to Cointelegraph, Bitcoin and Ethereum fell by 11.82% and 45.41% respectively in the first quarter of 2025, marking the weakest Q1 performance in years. Bitwise Chief Investment Officer Matt Hougan referred to it as "the best worst quarter in crypto history."Analysts pointed out several potential factors that could drive a market rebound in Q2: an increase in global money supply, an improvement in the U.S. regulatory environment, and stablecoin assets reaching an all-time high (over $218 million).

ChainCatcher message, according to the CryptoQuant Insights report, Bitcoin rebounded after Trump announced a 90-day tariff suspension, while the declines in ETH and XRP also narrowed. Despite the rebound in Bitcoin's price, CryptoQuant's bull market score index has dropped to 10, the lowest level since November 2022, and this index must break through 40 to indicate sustained bullish momentum.CryptoQuant analysts point out that Bitcoin's current key resistance levels are between $84,000 and $96,000. If bullish momentum weakens, Bitcoin's gains may be limited within this price range, similar to past bear market cycles. Therefore, the market must remain vigilant, as the movement of the bull market index depends on whether investor confidence can be reignited.

ChainCatcher news, according to Jinshi reports, Fed's Schmid stated that compared to the beginning of the year, the risks of rising inflation, weak employment, and sluggish economic growth have significantly increased.

ChainCatcher news, Matrixport's latest report analysis believes that the White House crypto summit and the confirmation of the U.S. strategic Bitcoin reserves failed to ignite market sentiment, and the crypto market did not show a significant increase, with perpetual contract funding rates still hovering at single-digit levels.This indicates that retail investors' enthusiasm remains low, in stark contrast to April and December 2024, when funding rates soared to double-digit highs.Even the market momentum brought by Trump's official inauguration is relatively subdued, clearly indicating that Bitcoin needs more influential catalysts to usher in a new round of increases.