1. Market Watch
Trump announced yesterday the dismissal of Federal Reserve Governor Lisa Cook, claiming he would soon have a "majority" on the board supporting significant interest rate cuts, sparking widespread legal and political controversy. Cook's lawyers have indicated they will challenge this "illegal act" through litigation, while the Federal Reserve has stated it will abide by court rulings and emphasized that the long tenure of governors and protection from arbitrary dismissal are important cornerstones for ensuring the independence of monetary policy. At the same time, the US regulatory landscape is also changing, with CFTC Commissioner Kristin Johnson announcing her imminent departure, leaving only one leader on the committee. Currently, investors are generally awaiting Nvidia's earnings report released on August 28.
For Bitcoin, most analysts are more cautious. Among the long-term bearish voices, asset management company Diaman Partners, through cyclical analysis, predicts that the bottom of this cycle may appear in 2026, between $60,000 and $80,000; economist Peter Schiff is more pessimistic, pointing out that Bitcoin has fallen 13% from its high to below $109,000, and predicts that it may fall to about $75,000 at its lowest. In terms of closer support levels, CryptoQuant analyst Axel Adler Jr. believes that if it falls below the strong support range of $100,000 to $107,000 (the intersection of the actual price of short-term holders and the 200-day simple moving average), the market may receive deeper support at $92,000 to $93,000. Currently, the focus of the market is on key support and resistance areas. Analyst Murphy emphasized that $108,800, the cost basis for short-term holders (STH-RP), is an emotional "bull-bear dividing line." Once the daily closing price effectively falls below this level, it may trigger market panic and require a long time to repair. To confirm an upward trend, multiple analysts such as AlphaBTC and Altcoin Sherpa pointed out that the price must close above $112,000 on the four-hour chart or daily chart, otherwise it may fall back to around $105,000. However, Mayne, the founder of Breakout, believes that Bitcoin may rebound and consolidate in the $110,000 to $120,000 range, while CrypNuevo pointed out that the CME gap near $117,000 may become a potential upside target.
Regarding Ethereum, analysts generally show a relatively optimistic expectation, especially after its strong performance relative to Bitcoin. Although there is pressure for short-term profit-taking in the market, the overall bull market trend is generally considered to remain unchanged. In terms of price support, analyst Amr Taha pointed out that if it cannot stand firm at $4,700, the price may fluctuate between $4,350 and $4,700, or even fall back to $4,000. However, Yi Lihua, founder of Liquid Capital, believes that the current pullback to around $4,100 and $4,300 may be the best time to buy. Tom Lee, Chairman of BitMine, also forwarded his analyst Mark Newton's view that Ethereum is expected to bottom out around $4,300. Looking ahead, breaking through key levels will open up new upside space. Amr Taha believes that an effective break above $4,700 will pave the way for $5,000. Mark Newton's forecast is more aggressive, believing that after bottoming out, it will hit new highs, with a target price set in the $5,100 to $5,450 range. Tom Lee himself is the most optimistic, predicting that Ethereum will rise to $5,500 in the next few weeks and reach $10,000 to $12,000 by the end of the year, with his confidence stemming from the fact that Ethereum is increasingly becoming the preferred blockchain platform for Wall Street institutions.
In broader market dynamics, the price of the XPL token on Hyperliquid surged 200% in 5 minutes before quickly collapsing, resulting in nearly $17.1 million in XPL liquidations in the last 24 hours, with two whale addresses accumulating $27.5 million in profits. Additionally, Trump Media & Technology Group announced a strategic partnership with Crypto.com, planning to adopt the CRO token as the utility token for a rewards system on its social platform, and planning to establish a listed CRO reserve company with expected funds of up to $6.42 billion through SPAC, causing CRO to rise nearly 40%. On the other hand, hedge fund Numerai announced that it has received an investment commitment of up to $500 million from JPMorgan Chase's asset management division, which caused the price of its native token NMR to soar over 120%.
2. Key Data (as of August 27, 12:00 HKT)
(Data source: Coinglass, Upbit, Coingecko, SoSoValue, Tomars)
Bitcoin: $111,650 (Year-to-date +19.16%), Daily spot trading volume $39.888 billion
Ethereum: $4,633.55 (Year-to-date +38.54%), Daily spot trading volume $40.139 billion
Fear & Greed Index: 52 (Neutral)
Average GAS: BTC: 1 sat/vB, ETH: 0.22 Gwei
Market Share: BTC 57.2%, ETH 14.4%
Upbit 24-hour Trading Volume Ranking: ETH, XRP, BTC, SOL, CRO
24-hour BTC Long/Short Ratio: 49.34%/50.66%
Sector Gains/Losses: Meme sector up 4.87%, AI sector up 4.23%
24-hour Liquidation Data: A total of 83,997 people were liquidated globally, with a total liquidation amount of $277 million, of which BTC liquidation was $67.3982 million, ETH liquidation was $97.2 million, and SOL liquidation was $19.4186 million
BTC Medium-to-Long Term Trend Channel: Upper rail ($115,277.81), Lower rail ($112,995.08)
ETH Medium-to-Long Term Trend Channel: Upper rail ($4,514.58), Lower rail ($4,425.18)
*Note: When the price is above the upper and lower rails, it indicates a medium-to-long-term bullish trend, and vice versa, it indicates a bearish trend. When the price is within the range or repeatedly passes through the cost range in the short term, it indicates a bottoming or topping state.
3. ETF Flows (as of August 26)
Bitcoin ETF: +$88.2049 million
Ethereum ETF: +$455 million, net inflow for 4 consecutive days
4. Today's Preview
Binance Alpha and Binance Futures will list Bitlayer (BTR) on August 27th, with the airdrop starting today and lasting for 30 days
Binance Alpha and Binance Futures will list Mitosis (MITO) on August 28th
Nvidia releases its Q2 FY2026 earnings after US stock market close. (August 28)
Jupiter (JUP) will unlock approximately 53.47 million tokens at 10:00 PM on August 28th, representing 1.78% of the current circulating supply, worth approximately $27.1 million;
Sophon (SOPH) will unlock approximately 267 million tokens at 9:00 PM on August 28th, representing 12.94% of the current circulating supply, worth approximately $8.9 million;
Top 100 largest market cap gains today: Cronos up 39.2%, Hyperliquid up 11.8%, Story up 11.8%, Pump.fun up 10.7%, Solana up 8.3%.
5. Hot News
Listed company Kindly MD applies for $5 billion in financing to advance its Bitcoin reserve strategy
An address made millions of XPL on Hyperliquid, clearing the order book and causing all accounts to be liquidated, profiting $16 million in 1 minute
A Bitcoin OG closed ETH long positions for a profit of $2.6 million, then bought $443 million worth of ETH
Google Cloud launches L1 blockchain GCUL, currently in private testnet phase
Hedge fund Numerai receives a $500 million investment commitment from JPMorgan Chase
Coinbase International will list GMT, Omni Network, and Synthetix perpetual contracts
Union announces U token economics: Community incentives account for 12%
Donald Trump Jr.'s venture capital fund has invested in prediction market Polymarket
Trump Media signs $155 million strategic agreement with Crypto.com
YZi Labs announces investment in yield-bearing synthetic dollar protocol USD.AI
Trump Media & Technology Group to form new company to deploy CRO treasury strategy, with expected funds totaling $6.42 billion
Listed company SharpLink increases its ETH holdings by 56,533 ETH, bringing its total ETH holdings to approximately $3.7 billion
Bitwise has filed a Bitwise Chainlink ETF application with the SEC
Orderly proposal to use 60% of net transaction fees for ORDER repurchase and adjust reward mechanism
Bitlayer announces BTR token economics: 40% for ecological incentives, 7.75% for node incentives
