This week was all about consolidation at the top. Bitcoin held steady near $118K, while Ethereum and altcoins took center stage. With NFTs roaring back and the UAE betting big on crypto’s future, the ecosystem reminded us that even when BTC pauses, the rest of the market continues to move forward.
📊 Market Overview
Bitcoin ($BTC ): ~$118,000
Ethereum ($ETH ): ~$4,500
Altcoins:
BNB: ~$860
Solana ($SOL ): ~$193
XRP: ~$3.1
Cardano (ADA): ~$0.97
Monero (XMR): ~$266
Fear & Greed Index: 57 – Neutral, with momentum intact.
🔍 Key Highlights:
🟧 Bitcoin Consolidates Just Below ATH
Bitcoin ended the week trading sideways around $118K, briefly touching $124K on August 14. Analysts say momentum remains intact, with ETF inflows keeping the door open for a run toward $130K–$134K.
🚀 Ethereum & Altcoins Back in the Spotlight
Ethereum surged close to its previous all-time highs, outperforming Bitcoin. Google searches for “Ethereum” and “altcoin” hit multi-year highs as ETF buzz spread and companies began eyeing diversification beyond BTC.
⚒️ Miners Benefit as Profitability Climbs
Mining profitability rose in July, with Bitcoin’s price growth outpacing the rise in hashrate. Analysts expect strong margins to continue if price momentum holds.
🎨 NFTs Stage a $9.3B Comeback
The NFT market has roared back, up 40% since July. ETH-driven demand is powering blue-chip collections and reminding skeptics that digital collectibles still thrive when Ethereum rallies.
🌍 UAE Bets Big on Crypto Future
The United Arab Emirates is on track to make crypto its second-largest economic sector within five years, thanks to progressive regulation and its expanding role as a global financial hub.
🔭 Looking Ahead
Bitcoin’s pause is giving Ethereum and altcoins the spotlight, with NFTs adding extra energy to the rally. The stage is set for a late-summer run — but whether BTC breaks higher or stalls will define the weeks ahead.
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📬 See you next week with more insight, less noise.
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