Summary of Crypto Market Highlights
Market Dynamics
BTC, ETH, SOL: Weekend performance remains stable, all three have pulled back to near the 7-day EMA line, pay attention to today’s U.S. stock market trends and their impact on the market.
ETH: Approximately $3.9 billion worth of ETH is queued to exit the Ethereum PoS network, while $1.16 billion worth of ETH is waiting to join, increasing potential selling pressure.
LINK: Strong performance, reaching $26.5, setting a recent high, possibly related to LINK's reserve plan and on-chain inflows triggering FOMO sentiment.
OKB: Briefly touched $132, with a circulating market cap of about $2.4 billion; as the OKB economic model updates and X Layer chain data performance improves, MEME coins are becoming active.
SOLV, BERA: Rising popularity, SOLV launches new BTC chain yield model, and BERA's high-yield strategy sparks community discussion.
BTC Market Share: Dropped to 59.4%, while altcoin market cap increased by 3.06% over the past week.
Market Sentiment: Fear and Greed Index at 60; market sentiment remains in the greed zone, and emotional fluctuations may intensify at any time.
Key Focus
Federal Reserve Rate Cut: Probability of a rate cut in September is 84.6%, which significantly impacts market sentiment.
Definitive (EDGE): Base ecosystem DeFi platform has risen for 2 consecutive months, with a total market cap surpassing $700 million, and BASE chain hot switching is rapid.
Macro Outlook: Federal Reserve meeting minutes and the latest unemployment data will be released on Thursday; Powell will speak on Friday, and the market should pay attention to possible macro signals.
Market Trend Analysis
BTC and ETH: Intense short-term tug-of-war between bulls and bears, large whales with high leverage frequently entering and exiting, and the market shows noticeable fluctuations, with strong wait-and-see sentiment; key price levels remain unconfirmed.
Macro and Technical Aspects: PPI data is bearish, coupled with a technically bearish structure, increasing short-term pullback risks; however, medium to long-term bullish expectations remain. Capital flow for mainstream coins is dispersed, and the market continues to maintain a cautious attitude.
