Bitcoin
$BTC (BTC) is consolidating around the $114K – $115K range, posting a modest 0.9% gain, with intraday highs near $115,353 and low‑volatility trading overall .
Ethereum
$ETH (ETH) surged by between ~4.5% and 6.5%, briefly eclipsing the $3,700 level, driven by strength in Layer‑2 ecosystems and growing optimism tied to regulatory tailwinds
🔄 Altcoin Momentum
Layer‑2 tokens led the charge today:
Mantle (MNT) soared over 16%,
Optimism (OP) and Zora (ZORA) each gained above 5%,
Broader altcoin market saw healthy rotation, while NFTs and SocialFi lagged slightly .
🧭 Technical & Sentiment Drivers
Bitcoin’s technical structure shows tight Bollinger bands and weak momentum indicators—EMA clusters forming resistance around $114.6K–116.2K, RSI near 48, MACD flattening—suggesting a compressed consolidation phase with breakout potential capped by descending trendlines .
Analysts like Crypto Raven anticipate a short dip into $110K–112K before a rally possibly targeting $124K, assuming favorable macro shifts such as a Fed rate cut in September .
🏛️ Regulation & Policy Shifts
Project Crypto, initiated by SEC Chair Paul Atkins, is recalibrating U.S. regulatory policy toward crypto — clarifying asset classifications, supporting super‑apps, and easing tokenized security issuances—reducing regulatory uncertainties and drawing capital back to U.S. markets .
The GENIUS Act, now law, mandates USD‑backing for stablecoins and enforces dual federal/state oversight—bolstering trust in dollar‑pegged tokens issued on Ethereum, and accelerating institutional interest in ETH-linked instruments .
In Europe, the ECB is increasingly concerned about U.S. dollar‑backed stablecoins eroding monetary control, even as Europe pushes its own digital euro path; meanwhile, the UK risks falling behind more proactive regulatory regimes like Singapore and Hong Kong .
Unique to Pakistan: the newly formed Pakistan Crypto Council (PCC) launched a government-backed strategic Bitcoin reserve and allocated surplus power for mining and AI data centers—underscoring nascent state-led crypto adoption in South Asia
🎯 Broader Themes & Sentiment
Institutional inflows into crypto remain strong: Bitcoin ETFs have seen over $14B in net inflows, and Spot ETH ETFs by BlackRock, Fidelity and others are trading robustly with volumes reported at $123.5B, fueling the ETH rally and prompting speculation on “ETH undervaluation” stories
Commentary from Robert Kiyosaki and others raised the specter of the "August Curse"—a historical seasonal dip—suggesting BTC risk could increase if downward momentum hits $90K. Nonetheless, the dominant sentiment remains bullish for medium‑to‑long term holders .
✅ Key Takeaways
Bitcoin: Range‑bound near $114K; breakout hinges on macro catalysts and breakout over $116K to hit resistance targets around $121K–124K.
Ethereum: Momentum is clearly building—regulatory clarity and Layer‑2 sector strength position ETH for further upside, particularly above $3,700.
Altcoins: Layer‑2 tokens leading; broader altcycle dependent on risk sentiment and regulatory follow‑through.
Macro/Regulation: U.S. policy easing and ETF flows are major tailwinds; Europe and UK remain laggards, even as newer jurisdictions pursue proactive strategies (e.g. Pakistan).
Traders and investors should monitor Fed signals ahead of September, ETF flows, major resistance levels, and legal updates relevant to DeFi and stablecoins. Layer‑2 tokens and ETH
$ETH derivatives highlight shifting appetite,
while BTC remains the barometer amid tightening technical setups.
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