jakiro
Author: God’s grace
On September 4, data disclosed by on-chain data analyst Murphy showed that BlackRock (BlackRock) carried out an amazing large transfer of crypto assets: selling $151.4 million worth of ETH and buying $289.8 million in BTC.This operation not only shows that traditional financial giants are undergoing a major change in the allocation strategy of digital currencies, but also indicates that the cryptocurrency market is about to usher in a bloody long-short war.
What signals are hidden behind BlackRock’s magical operation?
BlackRock’s operation yesterday was really shocking – he sold Ethereum for $150 million, but bought nearly $290 million in Bitcoin, and the purchase amount was almost twice the amount sold!
This magical operation of “sell one and buy two” is obviously inRebalancing its crypto asset allocation, and the center of gravity is obviously biased towards Bitcoin.This makes people wonder whether these traditional financial giants have seen any opportunity that ordinary people have not noticed?
The trends of institutional investors often represent the market’s weather vane.BlackRock’s large-scale position adjustment is obviously not an impulse, but a well-thought-out strategic layout.This shows that institutional funds are still pouring into the cryptocurrency market, especially Bitcoin.
$112,700 becomes a key resistance, and the long-short game is in full swing
Early this morning, Bitcoin once surged to $112,575, and then it could no longer go up.Why?becauseShort-term chip average cost line $112,700A strong suppression force was formed.
This position is important because it represents the average position cost for most traders in recent times.Once the price approaches this level, short-term holders who “want to run away if they are unconstrained” will sell, creating huge selling pressure.
It is indeed reasonable to analyze the market from the perspective of short-term holders’ emotions and position mentality.These people are often the “barometer” of market sentiment, and their every move directly affects the short-term trend of prices.
The Bitcoin market is currently at a critical turning point, and the result of the bull and short war is likely to set the tone for the entire cryptocurrency market in the second half of the year.
Stablecoin army is approaching, Binance becomes the main battlefield for long-short games
On September 4, on-chain data analyst Murphy posted a statement saying thatStablecoin balances within Binance exchange are growing rapidly, this aggravates the possibility of future market games.
Data shows that since BTC entered a pullback on August 13, Binance’s mainstream stablecoin balance (USDT+USDC) has seen an astonishingly significant increase.From August 13 to September 3, the net growth was as high as US$4.9 billion!
This figure has far exceeded the growth rate of stablecoin balances in the same period after Bitcoin entered the pullback range in August 2024 (US$3.4 billion) and March 2025 (US$2.8 billion).
As the main source of market liquidity, stablecoins have increased their reserves directly enhance the purchasing power and market activity of cryptocurrencies.So many stablecoins lie on the exchange, it is like the ammunition is loaded, and you will just wait for the time to sweep the goods crazy.
A record-breaking capital inflow in a single day has become a key observation point in the past few days
After carefully analyzing the inflow of stablecoins, we found that the most important large inflows occurred on the following key dates:
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2025.8.14: Net growth of US$1.83 billion
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2025.8.22: Net growth of US$1.72 billion
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2025.8.26: Net growth of US$760 million
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2025.8.28: Net growth of US$680 million
Even if the Binance financial management activities bring about an increase in capital, there is stillReal capital inflows of $3.6 billion.
With such a large amount of funds pouring into the exchange, it is obvious that a large number of investors are waiting for opportunities or making arrangements in batches.Although the current market sentiment is relatively short, the inflow of these funds provides more possibilities for long-short games.
History is similar but different. Will it be repeated or rewritten this time?
Looking back at history, we find that the current situation is very similar to the flow of funds in August 24 and March 25.
After those two times, Bitcoin ushered in a good rebound.So will history repeat itself this time?
But it should be noted thatThe scale of stablecoin inflows this time is far greater than the previous two times, which means that the subsequent market may be more intense.
Although it does not mean that the market reversal is about to begin, it at least shows that there is still a possibility of a long-short game.The market is always moving forward in uncertainty, and this uncertainty is exactly where the opportunity lies.
Where do investors go?
Faced with such a complex market environment, where should investors go?Here are a few suggestions:
Pay attention to macro indicators and on-chain data: Especially key indicators such as stablecoin reserves, exchange inflows and outflows, and changes in giant whale address.
Balance of long-term holding and short-term risk control: Don’t change your long-term beliefs due to short-term fluctuations, but you must also control risks and avoid emotional trading.
Avoid high leverage risk: In the current market environment with extremely high volatility, high leverage is like playing with fire and burning yourself, and you will lose your position if you are not careful.
Pay close attention to the Fed’s policy trends: Macroeconomic policies have an important impact on Bitcoin prices, especially interest rate policies and US dollar liquidity conditions.
On the Binance PlatformNet growth of stablecoin for $4.9 billion(USDT and USDC only) are like ammunition reserved for a war, far exceeding the inflows in August 2024 and March 2025.
Market sentiment seems to be relatively short, but this huge capital pool showsA large number of investors are waiting for opportunities to buy at the bottomOr build a position in batches.Historical data shows that similar situations have occurred in the market relative bottom areas in August 24 and March 25.
The long-short game is not over yet, and the battle for the key resistance level of $112,700 may be just a prelude to a larger market.
