Market Dynamics:

BTC leads the decline, altcoins are under pressure with widespread drops. U.S. stocks are also declining, and newly launched crypto-stock assets have not changed the downward trend, falling instead of rising. Due to the quarterly tax window for U.S. stocks and the U.S. Treasury's issuance of bonds, the market may face significant liquidity challenges in mid-September.

Market Highlights:

- In the ETH ecosystem, the new coin Prove, which is based on zero-knowledge proof concepts, performs strongly with significant increases.

- The token Bio in the DeSci field continues to rise, with its staking mechanism supporting launch platform functionality, becoming a market focus.

- Zora in the SocialFi sector reaches a new all-time high, backed by support from the Coinbase Foundation.

- In the cross-chain protocol sector, both Zro and Stg have seen increases, with Zro's announcement of acquiring Stg boosting market sentiment.

1. After BTC broke through 120k, it failed to stabilize at this level, resulting in significant selling pressure. The daily candlestick closed at an outrageous level, oscillating upwards during the day, awaiting the release of CPI data;

2. ETH remains strong, with both high and low points slowly rising, as the market gradually absorbs supply near previous highs. The extreme adjustment point should be around 4k;

3. Federal Reserve Governor Bowman: supports rate cuts starting in September, JPMorgan revised its expectation for Fed rate cuts this year from one to three;

4. Strategy purchased 155 Bitcoins at an average price of $116,401 between August 4 and August 10, with total expenditure of $18 million;

5. The total holdings of Ethereum treasury strategy firms have reached 3.04 million coins, accounting for 2.51% of the supply; the total holdings of Ethereum ETFs have reached 5.91 million coins, accounting for 4.89% of the supply;

6. The market cap ratio of Bitcoin has slightly rebounded by 0.4% to 60.67%, while the altcoin index continues to decrease to 30;

#BTC #ETH #bnb