Today, all three major U.S. stock indices closed higher, each with an increase of over 1%, with the S&P 500 and NASDAQ reaching historical highs. The latest CPI data has strengthened market expectations for a Fed rate cut in September. That night, BTC broke through 120,000, and ETH broke through 4,500, entering a new range of fluctuations. The main players have already taken action, and the market is already set; it just needs the fire to continue!
In the past 24 hours, a total of 114,597 people were liquidated across the network, with a total liquidation amount of $486 million, including $142 million in long positions and $344 million in short positions.
BTC
Bitcoin has seen a slight increase in turnover due to CPI risk aversion, mainly concentrated among investors with a holding cost above $100,000. Sentiment is expected to gradually stabilize. BTC's price remains robust, moving in high correlation with U.S. stocks; ETH.
Investor FOMO sentiment is evident but has not formed a 'bloodsucking' effect, instead supporting BTC's stability. Retail data expectations are weak this week and need continued attention.
Strategy:
Support levels are 118,000 and 116,411, with a tentative resistance level of 130,800. The current key level is 119,200, which needs to be closely monitored throughout the day.
ETH
Ethereum's weekly chart has surged, breaking through all moving averages and forming a bullish arrangement, unlocking much of the trapped positions from the last bull market. Now, it is less than 300 points away from the historical high, just a 6% difference, clearly heading towards a new high. Next, ETH is sure to break $4,900 and set a new record. Those holding spot can continue to hold.
Strategy:
Support levels are 4,100 and 3,892, with no clear resistance levels yet. Today's key levels are tentatively set at 4,492 and 4,729, which need to be closely monitored.
Recommendation: You can boldly engage when it retraces; missing out may require waiting another year. In operation, retain your base position and profits, and cherish every opportunity to use the base position.
Answer some questions: Is BTC cooling down, ETH attracting capital, and SOL losing favor?
We use realized market capitalization (RC) to reflect the real capital inflow into the market (excluding share transfers within exchanges, the on-chain behaviors of ETFs, MSTR, and whales will all be counted in RC).
BTC, as the leader, is the market's weather vane. Its 7-day RC net growth typically exceeds $20 billion at historical peaks (e.g., March 2024, December 2024, and July 2025 were $25.9 billion, $27.8 billion, and $22.6 billion respectively).
During the same period, ETH's 7-day RC net growth was above $5 billion (March 2024 was $6.2 billion, December 2024 was $4.8 billion, July 2025 was $5.6 billion), while SOL exceeded $4 billion (March 2024 was $5.5 billion, December 2024 was $4 billion, July 2025 was $4.7 billion), establishing BTC, ETH, and SOL as 'No. 1, No. 2, and No. 3'.
Recent crypto market data is unusual:
BTC's 7-day RC net growth has plummeted to $5.8 billion. Although the price is near historical highs, capital inflow is far less than before. ETH, however, has rarely maintained a net growth of $4.7 billion, showing outstanding performance, while SOL only has $500 million, clearly losing favor.
But there's no need to be discouraged: SOL's trade yesterday was so comfortable, directly leading to a massive surge, and we entered at the lowest point, very stable!
ETH's strength is a great benefit for 'E Guardians'!
As the saying goes, 'Where the money goes, the market follows.' Capital is flowing towards ETH. SOL briefly surpassed ETH in January 2025, but after July, capital enthusiasm cooled down. Although the chip and holding mentality are stable, the lack of capital can only follow BTC.
If ETH maintains a net growth of $4.7 billion and BTC reaches $20 billion, it can be considered that expectations of interest rate cuts are leading to a substantial influx of capital. However, current BTC inflows are weak, and ETH's wealth accumulation is mainly driven by Tom Lee and treasury companies, rather than ecological or macro factors, indicating a 'strongholder logic'. The siphoning effect of ETH is capturing funds, even influencing BTC.
Market consensus remains strong, selling pressure is low, but the uneven distribution of capital hides concerns. We hope that ETH's wealth creation effect can attract more funds to stay in the crypto space long-term.