CZ: Cryptocurrency traders should avoid selling at low points as SOL falls below $200

Headline

▌CZ: Avoid Selling at Lows in Cryptocurrency Trading

Binance founder CZ shared in a post, "Avoid selling at lows in cryptocurrencies." CZ stated at the BITCOIN ASIA 2025 conference, "Bitcoin will become the global reserve currency."

▌SOL falls below $200

Markets indicate that SOL has fallen below $200, currently trading at $199.94, a 24-hour drop of 6.23%. Market volatility is significant, so please exercise due diligence in risk management.

Market

As of press time, according to Coingecko data:

BTC price is $107,449, up or down -3.1% in the past 24 hours;

ETH price is $4,313.22, up or down -3.7% in the past 24 hours;

BNB price is $857.46, up or down -1.9% in the past 24 hours;

-5.5%; the price of DOGE is $0.2141, with a 24-hour increase or decrease of -3.4%; the price of XRP is $2.141, with a 24-hour increase or decrease of -5.1%. The price of TRX is $0.3379, with a 24-hour increase or decrease of -0.3%. According to data from Bitcoin Treasuries, the Florida State Retirement Fund, with a scale of $205 billion, increased its holdings of Strategy (MSTR) by $6 million in the second quarter and now holds a total of 240,026 shares of MSTR, valued at $80 million. Plaintiffs accusing Strategy of misleading risk disclosures voluntarily withdraw their lawsuit, permanently ending the case. Plaintiffs Michelle Clarity, Mehmet Cihan Unlusoy, and an investor have voluntarily withdrawn their lawsuit against Bitcoin Reserve Company Strategy. Court documents indicate that the case was dismissed "with prejudice," meaning the plaintiffs cannot amend and resubmit their complaint, permanently ending the case. This is considered a victory for Crypto Asset Reserve. Previously, the lawsuit accused Strategy of misleadingly disclosing the profits and risks of Bitcoin investments. Vance: Ready to take over if Trump suffers an accident. US Vice President Cyril Vance stated that he is ready to assume the presidency if a "serious tragedy" were to happen to Trump. In an interview with USA Today, Vance stated regarding Trump's health, "If, God forbid, a serious tragedy were to occur, I can't think of better training than the past 200 days of service." However, he stated that the 79-year-old Trump is in good health and, despite recent questions about his health, maintains "remarkable energy."

▌US judge did not rule in court on Trump's dismissal of Cook

Trump's attempt to fire Federal Reserve Board member Cook's lawsuit was not immediately ruled on in court on Friday, which means that the Fed policymaker will continue to serve for the time being. After two hours of oral arguments in federal court in Washington, DC, Judge Jia Cobb asked Cook's lawyers to submit a supplementary opinion next Tuesday, detailing why the dismissal was illegal. The case is expected to eventually be submitted to the US Supreme Court. "The president's so-called 'reason' is actually that she disagrees with the interest rate cut," Cook's lawyer, Abbe Lowell, a well-known Washington lawyer, said in court. Cook denied committing mortgage fraud and called the allegations "baseless and unproven," but has not yet explained in detail the basis for his position. OrangeX, a cryptocurrency trading platform, has announced the successful completion of a $20 million Series B funding round led by Kryptos, with continued support from SCI Ventures and other major investors. The new funds will be used to strengthen core infrastructure and accelerate global market expansion. OrangeX previously raised $10 million in a Series A funding round in September 2023, also led by Kryptos and supported by NGC Capital, Phase Capital, and SCI Ventures. According to TraderT, US spot Ethereum ETFs saw a net outflow of $164.6 million yesterday. Bitcoin OG whale sold 2,360 BTC and bought 49,850 ETH. According to OnchainLens, the Bitcoin OG whale transferred another 2,360 BTC to HyperUnit, valued at approximately $260.75 million (for a total of 3,360 BTC). In the past 10 hours, it also purchased 49,850 ETH, valued at approximately $216.99 million. Circle has no plans to issue a Korean won stablecoin. This past week, Circle President Heath Tarbert visited South Korea and held talks with the Bank of Korea and the country's four largest commercial banks: KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank. Multiple media reports have stated that Circle has no intention of participating in the issuance of a Korean won stablecoin. Mr. Tarbert's purpose was to explore how banks could utilize its USDC token.

Important Economic Dynamics

▌The U.S. dollar index fell about 2.2% in August.

At the end of trading in New York on Friday (August 29), the ICE U.S. Dollar Index fell 0.02% to 97.792 points. After the release of the PCE inflation data favored by the Federal Reserve, it rose to 98.134 points, and then quickly turned to decline. It fell 2.18% in August. On August 1, it plunged significantly from 100.257 points (the top of the month), and then continued to fluctuate at a low level. On the 22nd, there was another significant wave of 5 dives - refreshing the lowest point of the month to 97.556 points. The Bloomberg Dollar Index was roughly flat at 1201.12, down 1.67% in August, trading between 1224.64 and 1198.45. It hit a new monthly low on August 13. Trump Administration Warns Court of Diplomatic Crisis If Tariffs Are Illegal According to foreign media reports, Trump administration officials told the Court of Appeals for the Federal Circuit on Friday that a ruling that Trump's global tariffs are illegal would severely damage US foreign policy. Treasury Secretary Bensonte warned of a "dangerous diplomatic embarrassment." The White House submitted a statement from Bensonte, Commerce Secretary Lutnick, and Secretary of State Rubio to the Court of Appeals for the Federal Circuit in Washington. The court is expected to rule soon on whether Trump exceeded his authority to impose tariffs under the 1977 Emergency Powers Act. During oral arguments on July 31st, the judge expressed skepticism about the government's claim of broad tariff authority, suggesting he might uphold a challenge brought by a coalition of small businesses and Democratic-run states. Several cabinet secretaries said a ruling invalidating the tariffs would overturn months of negotiations with the European Union, Japan, South Korea, and other countries. "Suspending the effectiveness of the tariffs would expose the United States to the risk of retaliation from other countries that would perceive the United States as lacking the ability to respond quickly," Bessant said. Fed President Mary Daly hints at a September rate cut, citing tension between dual objectives. San Francisco Fed President Mary Daly said policymakers will soon be ready to cut interest rates and that inflation from tariffs is likely to be temporary. "The time will soon be to recalibrate policy to better align it with the economy," she wrote in a social media post shared by the San Francisco Fed on Friday. Daly said tariff-related price increases "will be one-time." "It will take time to know for sure," she wrote, "but we cannot risk damaging the labor market while waiting for full certainty." Daly said, "There is currently a tension between the Fed's dual goals: tariffs have pushed up inflation, while the labor market is showing signs of slowing."

▌The Fed's overnight reverse repurchase agreement (RRP) usage was $77.898 billion on Friday.

▌The Fed's overnight reverse repurchase agreement (RRP) usage was $77.898 billion on Friday, compared with $31.966 billion in the previous trading day.

▌Spot gold hit $3,450 an ounce for the first time since June 16.

▌Spot gold hit $3,450 an ounce for the first time since June 16, up 0.97% on the day.

▌ What is a Bitcoin Flash Crash? A Bitcoin flash crash is a sudden, sharp, and brief drop in the BTC market price, after which the price begins to recover. Unique market conditions can cause price fluctuations in the leading cryptocurrency. Flash crashes are typically caused by a large group of sellers (known as whales) who suddenly decide to sell Bitcoin, flooding the market with supply. This overwhelms buyers and can cause billions of dollars in losses in a matter of minutes. The frequency of BTC flash crashes in recent years highlights the volatility risks inherent in cryptocurrencies, even for a strong asset like BTC. Despite its multi-trillion dollar market size, the cryptocurrency market is still maturing. Understanding BTC price crashes and their causes is crucial, especially for new investors in the space. Without this knowledge, witnessing such an event can be devastating and lead to emotionally charged trading decisions rather than insightful and profitable investments. Traditional stock markets have built-in circuit breakers that temporarily halt trading when an asset or index fluctuates to a certain level. The BTC market lacks these circuit breakers, making it difficult to control rapid market declines.