Market Sentiment
The current Fear & Greed index is 70, indicating a level of greed. This index reflects increased investor confidence, primarily driven by the sustained rise in Bitcoin and Ethereum prices, continuous inflow of institutional funds, and heightened expectations for Federal Reserve rate cuts. These factors collectively push the market from panic to optimism, but caution is needed regarding potential over-leverage risks, which may lead to short-term corrections.
Market Overview
The current price of Bitcoin is $121,879.95, with a 24-hour increase of 3.33%; the current price of Ethereum is $4,290.29, with a 24-hour increase of 0.97%. This fluctuation is mainly driven by an increase in institutional demand, with a net inflow of $253.2 million into the US Bitcoin spot ETF and $326.6 million into the Ethereum spot ETF. Additionally, the probability of the Federal Reserve lowering interest rates in September has reached 90.7%, boosting overall market risk appetite.
On-chain Focus
In the past 24 hours, Amber Group withdrew $3.81 million worth of 358,000 UNI from Binance, with an average price of $10.64, resulting in a floating profit of $230,000; the CEO of Nansen transferred $1.46 million worth of 1 million LDO to Coinbase; whales/institutions have accumulated over 1.1 million ETH, worth $4.78 billion, with an average price of $3,584. These movements indicate ongoing accumulation by institutions, driving activity in DeFi and the Ethereum ecosystem.
Institutional Trends
The US Bitcoin spot ETF saw a net inflow of $253.2 million in the past week, while the Ethereum spot ETF had a net inflow of $326.6 million. These fund flows directly support price increases, alleviate short-term selling pressure, and strengthen market confidence. However, if inflows slow down, it may trigger increased volatility; it is recommended to closely monitor next week’s CPI data from the Federal Reserve for its impact on liquidity.
Regulation and Macro
The South Korean Financial Intelligence Analysis Institute has confirmed that KCEX and QXALX are operating illegally and has referred them to investigative authorities, which may disrupt access in South Korea; the probability of the Federal Reserve lowering interest rates in September is 90.7%. These events increase market uncertainty in the short term, and crackdowns on illegal exchanges may lead to localized capital outflows, while rate cut expectations support the appeal of crypto assets as a safe haven, driving prices gently upward.