CPI Data Ignites the Cryptocurrency Market! ETH to Strike Hard Against Shorts, August Up 30% is Secure!
The US July CPI rose 2.7% year-on-year, with stable data providing relief to the market. Expectations for interest rate cuts by the Federal Reserve have strengthened, and Bitcoin surged directly to $120,000, with institutional ETF holdings exceeding $80 billion. MicroStrategy's Bitcoin is valued at $72 billion, and funds are pouring in.
This month, a wave of $2.99 billion token unlocks is coming, with Solana unlocking $747 million, Worldcoin unlocking $203 million, and projects like LayerZero releasing 23% of their circulating supply at once, which may pose a risk of a price crash in the short term, so caution is warranted.
There is a major regulatory shift, with the US SEC launching a "Crypto Plan" that clearly states "most tokens are not considered securities," leading to a relaxation of policies; Hong Kong's stablecoin legislation has also been implemented, and traditional institutions like Citibank are starting to lay out stablecoin business.
On the technical side, NFT platforms are implementing AI dividends, and decentralized exchanges are rising, making the ecosystem stronger. In terms of operations, there may be volatility opportunities after the CPI is announced, with $125,000 being a key resistance level. If there is a pullback to $112,000, it could be a good buying opportunity. Stablecoin staking offers an annualized return of 5%-8%, which is suitable for hedging risks.
August Market Summary: Clear Policies + Influx of Funds, the Cryptocurrency Market Might Take Off!
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