[#HashKey Trading Hour]: Bitcoin bulls and bears battle at $112,000; $124,000 may be the target if it holds.
Trump hinted on Tuesday that he "probably won't" seek a third term, arguing that current Vice President Cyrus Vance is the "most likely" Republican presidential candidate in 2028. However, he stressed that it's "too early" to make a final decision.
On a macroeconomic level, former Treasury Secretaries Paulson and Timothy Geithner jointly warned that the $29 trillion U.S. Treasury bond market faces multiple threats from unsustainable fiscal paths and political systemic issues.
In the digital asset sector, Hong Kong's Web 3.0 strategy is showing positive results. HashKey Chief Analyst Jeffrey Ding noted that Hong Kong-listed companies entering Web 3.0 through financing have not only promoted financial innovation through applications such as RWA and DeFi, but also broadened financing channels and increased market liquidity.
After Bitcoin fell below the short-term support range of $115,000 to $118,000 in the past two weeks, over $1 billion in leveraged long positions were liquidated. Analyst Material Indicators warned that weak buying support above $110,000 could push prices further down to $109,000.
Ethereum's price rebounded to around $3,650, driven by continued institutional interest. Although its ETF experienced a record net outflow of $465 million on August 4th, on-chain data shows that institutions and whale addresses continue to actively buy through over-the-counter transactions.
Pump.fun's trading volume and token minting over the past 24 hours surpassed Bonk.fun for the first time in a long time. Data shows that the platform purchased approximately 8,740 SOL equivalents of $PUMP over the past six days, accounting for 102% of total revenue.
