• The global market capitalization of cryptocurrencies reached $3.95 trillion (as of August 11), with Bitcoin nearing its peak at $118,850
• Ethereum recovered to $4,281, its highest level since December 2024
• $12.8 billion entered into cryptocurrency exchange-traded funds in July, with Ethereum products attracting nearly $270 million in early August
• The assets under management for Ethereum exchange-traded funds stand at $32.6 billion, with $8.2 billion coming in since the beginning of the year
Regulatory Drivers
• The U.S. Securities and Exchange Commission (SEC) approved the creation/redemption of cryptocurrency exchange-traded funds for Bitcoin and Ethereum (on August 5)
• The "Crypto Project" was launched to update regulations regarding crypto securities and decentralized finance
• The U.S. government allowed the inclusion of digital assets in retirement plans (401(k)), resulting in a $1.57 billion inflow into exchange-traded funds
• The U.S. Securities and Exchange Commission (SEC) clarified liquid securitization regulations, easing compliance burdens
Trading Opportunities
• Bitcoin shows strong institutional support with a key resistance level coming at $120,000
• Ethereum breaking above the $4,000 level creates short-term trading potential with resistance at $4,500
• The structure of cryptocurrency exchange-traded funds may reduce the price gap, presenting opportunities to profit from price discrepancies
• Mixed exchange-traded funds that hold both Bitcoin and Ethereum provide diverse opportunities without the need to invest in each separately
Market Outlook
• Binance Square users expressed optimism about Ethereum's strong comeback due to its evolving role in the decentralized finance market
• New rules on cryptocurrency redemption are expected to encourage long-term adoption by reducing the tracking price gap
• Income-generating and concentrated securitization exchange-traded funds are likely to dominate sentiment in the coming weeks#Write2Earn #btc70k #bitcoin #Binance #BitcoinDunyamiz $ETH $BNB $BTC
