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Bitcoin Market Storm: Five Observations Amid Extreme FearAugust has been a tumultuous month for Bitcoin, with the digital currency navigating choppy waters akin to a ship in a storm. Opening the week below $60,000, though witnessing a brief rebound, the price trajectory remains uncertain, with bulls and bears locked in a fierce battle, leaving the market landscape shrouded in ambiguity

Glassnode data shows that the number of ETHs flowing into the exchange is at its lowest level in the past four weeks. However, the decrease in selling pressure may take time to translate into the bullish momentum of counterfeit currency