1. Bitcoin (BTC) Breaks $118,000: Bitcoin's price continues to rise, recently breaking $118,000, setting a new historical high. Market sentiment is high, with the X platform fear and greed index reaching 78 (extreme greed). Analysts predict that if momentum continues, it may hit $150,000 in the short term. Support is at $114,000, and resistance is at $120,000.
2. Ethereum (ETH) Approaches $4,200: Ethereum performs strongly, with the price breaking $4,200, nearing historical highs. Short-term resistance is at $4,870 - $4,920, and once broken, it may test the $4,000 level. A pullback to $3,700 - $3,740 can be seen as a buying opportunity.
3. Market Sentiment: Driven by expectations of Fed interest rate cuts and Trump administration's crypto-friendly policies, the overall market shows bullish sentiment, but caution is still needed for range fluctuations and false breakout risks.
Hot Events
1. Trump Administration Supports Cryptocurrency: Trump plans to sign an executive order allowing U.S. pension funds to invest in cryptocurrencies, boosting market sentiment in the short term.
The U.S. GENIUS Act and the establishment of strategic Bitcoin reserves provide a regulatory foundation for stablecoins and digital assets, leading to high institutional enthusiasm, with Syz Capital raising over $200 million to invest in Bitcoin.
2. Tornado Cash Trial Controversy: Tornado Cash co-founder Roman Storm was convicted of operating an unlicensed currency transfer business, but money laundering and sanctions violation charges were not agreed upon, and an appeal is imminent. This event highlights the contradiction between innovation and compliance.
3. Binance Alpha airdrop activity is hot: Binance's new airdrop project SUP launched on August 5, attracting wide attention. The Binance web wallet is launched, covering features such as Meme trading and social tracking, and the popularity of the BNB chain may rise.
4. Japan Blockchain Week (JBW 2025) is Coming: From August 22 to September 15, Tokyo will host JBW 2025, focusing on the integration of AI and Web3, as well as a Solana special conference, expected to promote the development of the blockchain ecosystem in Asia.
Technical Analysis and KOL Opinions
1. BTC: The current price is consolidating in the range of $114,000 - $116,000. A breakthrough at $117,200 could open upward space to $120,000+, while a drop below $114,000 may test the support at $113,000.
2. ETH: Daily chart is strong, short-term resistance is at $4,870 - $4,920, it is advisable to pay attention to buying opportunities on pullbacks.
3. Altcoins: Some tokens like Hype and MOG have short-term surges, but liquidity is low, strict stop-loss settings are necessary.
4. KOL Recommendations: Several KOLs (such as Didi the Great Demon King, Bojan) believe that there is a strong expectation of interest rate cuts in September, suggesting a long-term bullish layout, but caution is needed for short-term volatility risks.
Risk Warning
1. Regulatory Uncertainty: The implementation of Hong Kong's (Stablecoin Regulation Draft) and the U.S. crypto regulatory report may cause market fluctuations, and investors should pay attention to policy changes.
2. Security Risks: Recently, a phishing attack on crypto wallets resulted in $908,000, reminding users to strengthen wallet security.
3. Market Volatility: BTC and ETH still face false breakout risks, altcoins are highly volatile, it is recommended to avoid blindly chasing highs and selling lows.
Investment Advice
1. Spot Accumulation: BTC and ETH are still the top choices for hedging, suitable for long-term holding. Gradual accumulation can reduce risks, and attention should be paid to BTC support at $114,000 and ETH support at $3,700.
2. Altcoin Strategy: Diversify investments in potential coins, focus on leading projects in the sector and new projects (such as Binance Alpha airdrop), but strict stop-loss measures are necessary.
3. Emotion Management: Bull market sentiment is high, do not frequently change positions due to panic or greed. It is recommended to take profits in batches and retain some positions to respond to subsequent opportunities.
Binance Square
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Binance Statement: The above content is for reference only and is not investment advice. The cryptocurrency market is highly volatile, please operate with caution and manage risks well.