After a strong July, the cryptocurrency market is entering August with growth momentum and caution. Bitcoin (BTC) remains in a narrow range, Ethereum (ETH) is seeing inflows from institutions, and Solana (SOL) continues to develop as an on-chain hub. Both are approaching important thresholds, both technically and psychologically.
At the same time, macro factors are becoming a focal point. U.S. inflation data, new tariff tensions, and important policy signals from Jackson Hole could all alter market sentiment this month. With altcoin activity heating up and the spread of ETF speculation, August could shape the trend for the remainder of Q3.
Bitcoin Remains Stable — 'A Major Move Could Be Ahead'
Bitcoin spent most of July in a narrow price range between $115,000 and $118,000 — a relatively quiet month for the leading cryptocurrency. Even the mid-July attempt to reclaim the $120,000 mark quickly failed, leading the market into a consolidation phase with low trading volume and low volatility.
According to Abbas Abdul Sater, Head of Business at Capital.com, this calmness may be setting the stage for something much larger:
Historically, such periods often occur before significant volatility. If Bitcoin can overcome the $120,000 mark with strong buying volume, the next target could be $140,000 or higher. But if it fails to hold around the current level of $115,000, a short-term pullback could occur.
Part of this optimism stems from improved macro conditions. U.S. GDP growth and a recovering labor market have boosted global risk appetite. The stock market is trending higher, and interest in risk assets like cryptocurrencies is gradually increasing again — a factor that could support Bitcoin in early August.
Abdul Sater also points out that greater regulatory clarity and the Fed's stable policy are key drivers:
The Federal Reserve kept interest rates at 4.25%, causing BTC prices to dip slightly before recovering. At the same time, U.S. regulators are making progress — pushing the Commodity Futures Trading Commission (CFTC) to oversee spot Bitcoin and allowing for the establishment of physical ETFs, bringing cryptocurrency ETFs closer to traditional commodity standards.
However, while August begins with renewed interest in risk assets, Bitcoin prices have come under pressure. This month started with a pullback due to news of new import taxes from Donald Trump, shaking global markets and dragging cryptocurrency prices down alongside stocks for a brief period.
Traditionally, both August and September are weaker months for Bitcoin, often marked by corrections or sideways volatility. October typically reverses the trend — with strong price increases following a prolonged cooling period.
Abbas Abdul Sater adds that the current setup may be laying the groundwork for a larger move:
Bitcoin is in a crucial consolidation phase. Steady accumulation from institutions and ETFs is providing long-term support, but low volatility signals a major move may be imminent.
'The Price Increase from $6,000 to $7,200 is Realistic' for Ethereum
Ethereum had a strong recovery in July, increasing nearly 50% for the month and closing above $3,500 — a level not seen since early spring. This performance has fueled what many call the beginning of altcoin season.
Dean Chen, an analyst at Bitunix, notes that Ethereum remains resilient despite significant volatility:
August will be a crucial test for Ethereum. Despite the market's strong volatility after the July FOMC meeting, Ethereum has maintained a price above $3,200, indicating relatively remarkable strength.
That strength is also reflected in ETF inflows. Ethereum investment products saw net inflows on nearly every trading day in July, with only one outflow day at the beginning of the month. Inflows peaked on July 16, reaching $726.6 million — a signal indicating that institutional interest in Ethereum is rising again.
Chen sees this as part of a broader trend:
Institutional capital is increasingly flowing into Ethereum-native sectors such as Real-World Assets and modular applications. If favorable macro liquidity conditions return, Ethereum reclaiming the $4,800 level and possibly expanding into the $6,000–$7,200 range is a plausible scenario.
Technically, Ethereum is also showing signs of building a more stable foundation. Chen believes that a moderate correction could solidify the base for a breakout:
If Ethereum drops back and stabilizes around $3,450 — a significant area of previous highs and supply convergence — it will create a more favorable condition for breaking through the key resistance level at $4,000. This level has structural significance, formed during the 2021–2022 period. If broken, the potential to return to the all-time high of $4,800 is very high.
Solana Aiming for $240 as On-Chain Growth Momentum Builds
Following Ethereum's growth, Solana also saw significant growth in July, briefly surpassing the $200 mark. Although Solana's monthly performance was only about 13.2%, more modest compared to ETH, interest in the Solana ecosystem continues to rise - driven by increasing DeFi activity and stable meme money flowing into its network.
Pauline Shangett, CSO at ChangeNOW, highlights the surge in on-chain activity as the main factor driving Solana's growth:
We are seeing Solana's TVL rise sharply, currently at $10–$14 billion, the highest in six months. DeFi activity is also booming, with trading volume on decentralized exchanges (DEX) in July surpassing $1.4 trillion. On the institutional side, the situation is heating up: major companies like Grayscale and Invesco Galaxy have submitted or amended spot ETF applications, with decisions expected around October.
This increasing interest could help support price volatility in the coming weeks. Maria Carola, CEO of StealthEx, states that market sentiment is trending upwards:
Most predictions for August are quite optimistic. Some believe gold prices will be in the $195–$200 range, while others think gold could rise to $250 or even higher if the upward momentum returns.
The question now is whether this growth momentum can be sustained. Shangett believes that August will be a pivotal moment for Solana's price structure:
August will be a pivotal time to see whether this upward momentum can be sustained. I am closely monitoring the $185–$200 range. If Solana can maintain this range, it will lay a solid foundation for the next price increase. Strong on-chain activity, new users, increased trading volume, and inflows could push the price up to $220–$240 in the near future.
August Could Be a Pivotal Month for BTC, ETH, and SOL
After July, Bitcoin, Ethereum, and Solana are entering August with mixed developments — but all three show strong underlying signs.
Bitcoin is still in a consolidation phase, trading just below $120,000. A decisive move in either direction could shape the overall market trend. Abbas Abdul Sater summarizes the key inflection point:
Breaking above $120,000 could push Bitcoin to $140,000, while failing to maintain the upward momentum could lead to a short-term decline.
Ethereum ended the month as one of the best-performing large-cap assets, supported by ETF inflows and sustainable Layer 2 activity. Markus Levin, co-founder of XYO, sees further growth potential despite the possibility of volatility:
Ethereum's price increase in July was driven by a combination of favorable macro factors, increasing expectations for broader adoption of ETH ETFs, and renewed momentum from developers in the ecosystem. Layer 2 activity remains strong, and institutional sentiment is cautiously improving. Prices may be somewhat volatile, but indeed, in the medium term, we believe Ethereum will continue its positive trend into August and beyond.
Meanwhile, Solana is attracting attention in the DeFi and retail community. Its price is currently hovering around the critical psychological level of $200. Shawn Young, Chief Analyst at MEXC Research, predicts this level will be an important test:
In terms of price action, the $200 level will be a fierce battleground, both psychologically and technically. We may see resistance at that level in the short term due to robust network usage metrics and inflows into Solana-based products. This only suggests that if overall market conditions remain favorable, this level could become a support level by Q4.