Crypto Market Trends and Analysis

Market Observation

Recently, a former political figure announced the nomination of a new candidate for the Federal Reserve Board, triggering market expectations for a shift towards loose monetary policy. The nominee supports the idea of interest rate cuts and has proposed a central bank reform plan, including adjustments to its regulatory powers. Although the new board member's term is limited and they may not participate in the mid-September monetary policy meeting, the market has interpreted this as a signal of a policy shift.

At the same time, relevant departments have been instructed to reassess the feasibility of investing retirement savings plans in encryption. Industry analysts expect that if crypto assets account for 1% to 10% of retirement plans, it could bring in between $80 billion to $800 billion in capital inflows. This move is considered to have an impact on the crypto market that may be on par with the approval of spot ETFs, marking Bitcoin's official entry into mainstream investment channels, potentially attracting a large amount of long-term stable capital, reducing market volatility, and strengthening its value storage function.

In the Asian market, several Hong Kong stock companies are actively laying out plans in the RWA (Real World Assets) sector, driving related stock prices up. Analysts point out that companies with RWA tokenization capabilities and strong technical research and development strength will have a competitive advantage. These companies can enhance asset liquidity by bringing traditional assets onto the blockchain through innovation. However, investors should also be wary of companies lacking substantial technological investment and long-term planning to avoid the risks of blindly following trends.

The price of Bitcoin has surpassed $117,500, and market analysis indicates that it is currently in a consolidation phase. Data from platforms report that the supply in the range of $110,000 to $116,000 is relatively light, and the market may need more time to establish new support. In the short term, the monthly opening price of $115,600 and the resistance level of $117,200 are key points to watch. Although 95% of addresses are in profit, there is still significant resistance in the range of $116,000 to $119,000. However, signs such as increased outflows of Bitcoin from exchanges and continuous buying by large holders indicate a tightening supply, and the market's risk-reward structure is leaning towards the upside.

The price of Ethereum has reached a recent high, approaching the $4,000 mark. Analysts believe this may indicate an imminent explosion in the crypto market, with potential increases of 200% to 500% in the coming months. Institutional investors are also showing strong interest, with several institutions and publicly listed companies planning to make large-scale purchases of Ethereum. Against this backdrop, some analysts even predict that the price of Ethereum could reach $16,000.

Key Data (As of August 8, 12:00 HKT)

• Bitcoin: $116,954 (Year-to-date +24.59%), Daily trading volume $38.732 billion
• Ethereum: $3,944.90 (Year-to-date +16.98%), Daily trading volume $37.192 billion
• Fear and Greed Index: 74 (Greed)
• Average GAS: BTC: 1 sat/vB, ETH: 0.23 Gwei
• Market share: BTC 60.0%, ETH 12.2%
• 24-hour BTC long-short ratio: 51.08%/48.92%
• Sector Performance: Layer2 sector increased by 9.39%; PayFi sector increased by 9.97%
• 24-hour liquidation data: 115,938 people liquidated globally, total amount $408 million

ETF Fund Flows (as of August 7)

• Bitcoin ETF: +$281 million
• Ethereum ETF: +$222 million, net inflow for 3 consecutive days

Today's Outlook

• Multiple projects will undergo token unlocks, including IMX, SXT, ENS, and MOVE.
• Today's top 100 market cap biggest gainers: Pendle up 27.4%, Mantle up 21.1%, Aerodrome Finance up 17%.

Hot News

• A certain listed company plans to issue up to $5 billion in securities to purchase Ethereum.
• Chainlink launched the strategic LINK reserve, with millions of dollars in LINK stored.
• INFINIT: The IN airdrop claim will open today at 18:00 and will last for one month.
• A certain trading platform will launch IP tokens on multiple markets.
• The Orca DAO proposes to stake 55,000 SOL and implement a two-year ORCA buyback plan.
• Ethereum's on-chain transaction volume in July reached $238 billion, hitting a new high since December 2021.
• The Bitcoin and Ethereum options market showed a bearish trend in August.