Market Sentiment
The Fear & Greed Index is at 74 (Greed). Sentiment is strengthening, primarily driven by spot elevation and ETF net inflows; volatility is warming up but not overheated, with funds willing to support on dips, and risk appetite continues to rise.
Market Overview
BTC is quoted at $116,816.00, +2.04% in 24 hours; ETH is quoted at $3,930.19, +7.27% in 24 hours. The drive comes from the return of US stock spot ETFs and alleviation of regulatory uncertainties, combined with rising expectations of interest rate cuts, leading mainstream coins to lead the rally.
On-Chain Focus
Two Ethereum 'whales' have withdrawn a total of 8,631 ETH (approximately $32.08 million) from exchanges in the past 10 hours: 0xF436 withdrew 5,631 ETH, and 0x526D's new wallet withdrew 3,000 ETH; indicating an increased willingness to accumulate on the spot side.
Institutional Movements
Significant capital return to US stock ETFs: On August 7, Bitcoin ETFs saw a net inflow of $2.774 million; Ethereum ETFs saw a net inflow of $2.223 million. Short-term liquidity is improving, making it easier to trigger passive buying and short covering during price surges.
Regulation and Macro
The SEC and Ripple jointly withdraw their appeal, officially ending a five-year lawsuit; Trump nominates Stephen Miran, who is crypto-friendly, to serve on the Federal Reserve Board. The decrease in legal uncertainties and the combination of friendly policy expectations boost short-term risk appetite.