📰 Major Market Trends

Crypto markets broadly sell off as rising U.S. stagflation fears weigh on sentiment. Weak ISM Non‑Manufacturing PMI data caused Bitcoin to slip toward $113K, while Ethereum fell below $3,600 and altcoins like XRP declined ~4% .

**Bitcoin ETFs saw about $196 million in outflows **, while Ethereum ETFs gained $73 million, indicating a rotation toward #ETH 🤨

🔹 Altcoins & Sector Shifts

The Altcoin Season Index has climbed to 51 as of August 5, suggesting market leadership may be shifting from Bitcoin to altcoins like Ethereum and Solana .

Ethereum futures saw a major move: one whale increased a large 70,000 ETH short position using 15× leverage (worth ~$252M), betting on further ETH weakness .

🧱 Institutional & Corporate Interest

Small public companies are adding Ether to their treasuries, leveraging staking yields—Ether holdings by firms now exceed $3.5 billion. These companies view ETH as a middle ground between expensive #BTC $BTC

and riskier altcoins .

🏛️ Regulatory & Policy Moves

The U.S. Securities and Exchange Commission issued new guidance on liquid staking. Meanwhile, **spot Ether ETFs logged their largest-ever single-day outflow (~ $465M)**—a sharp reversal after recent inflows .

Indonesia is exploring creating a national Bitcoin reserve, an idea being floated to support financial resilience and blockchain strategy .

⚠️ Noteworthy Events

In India, law enforcement agencies conducted widespread raids across multiple cities probing a global fraud case involving cryptocurrency-based money laundering. Scam proceeds totaling ~₹260 crore were traced through complex crypto networks .

A previously undisclosed **$14.5 billion bitcoin hack ** from 2020 by mining firm LuBian was confirmed. The stolen BTC remains unspent and was unearthed in new Arkham Intelligence reports, marking the largest known theft in Bitcoin history .