August just started, and the crypto market immediately maximized the heartbeat frequency ⚡️.
On one hand, a market-wide crash, on the other hand,#以太坊现货ETF Setting a record for the longest positive inflow, while some popular currencies such as#DOGE ,#IMX ,#ADA Etc. face technical breakdown, unlocking risks, or support battles.#加密市场回调
Market differentiation and fluctuating confidence create a "two extremes" situation, precisely reflecting the current crypto market's high sensitivity and game-playing nature.
If you are still "All in" meme coins or have just added 10x leverage in the past two days, then you may only have one voice in your heart at this moment:
"Who is smashing the market?"
"Is this bull market starting to change?"
"Should I clear out my position and run away?"
Don't panic, sit down first, let's have a market-wide review and logic sorting, and see the hidden capital intentions and trend switching clues behind the storm.
I. 24-hour crash, who is the culprit? Who are the "survivors"?
On August 1, the crypto market ushered in a dark start, and a big negative line stunned many traders.
According to data:
🟠 Bitcoin (BTC): down over 3%, closing at $114,581
🔵 Ethereum (ETH): down 6.4%, weaker than BTC
🌞 Solana (SOL): down 7.68%, struggling to hold $171
🐕 Dogecoin (DOGE): plunged by as much as 9.49%, becoming the worst performer
🟢 Cardano (ADA): First up and then down, rising 4.89% and then plunging 8.82%
The chain reaction brought about by this round of decline is not small:
💥 Bull liquidation as high as $630 million, mostly related to altcoin leveraged positions
📉 Altcoin Season Index plummeted to 35
🔄 Funds flow back into the Bitcoin safe haven again, and BTC's market share increases
In short: funds "fear risk" and quickly withdraw from currencies with high volatility and poor liquidity, turning to Bitcoin and other risk-resistant assets.
II. Who is the "real culprit" behind the market decline?
Let's sort out the key macro background and policy motivations that triggered the crash on that day:
1️⃣ Federal Reserve: No rate hike ≠ good news
On July 31, the Federal Reserve kept interest rates unchanged, but at the same time released a strong warning of economic slowdown and cooling consumption. This is like a bucket of cold water for risk assets.
Investors dare not increase their positions in risky assets (such as altcoins)
Concerns about tightening liquidity have intensified, and institutions have begun to reduce their crypto positions
2️⃣ Supervision: The White House speaks out vs. SEC's slow motion
Although the White House called on the SEC to speed up regulatory clarity, which has a short-term boost, the market is more concerned about the actual implementation progress. The Fed's hawkish tone directly broke the market's confidence.
3️⃣ Tariffs + Trump: Geopolitical uncertainty increases again
On August 1, Trump announced a package of new tariff policies, which directly made the global market expect the US dollar to strengthen and inflation to rebound, and capital risk preference declined, and crypto assets immediately became a heavily affected area of liquidation.
In a word: Macro pressure and policy uncertainty ignited this round of sharp drop.
III. Dogecoin: The line between support and collapse
Dogecoin's performance was particularly tragic this time, but more importantly, it has also reached a key support level game moment on the technical level.
👨💻 Analyst Kevin issued a warning:
"Dogecoin is currently in a key support area ($0.213-$0.189), which is a dense intersection of all important daily moving averages, weekly moving averages, and 0.5 FIB retracement levels."
If the area can be held:
✅ It is expected to challenge the $0.26-$0.28 range again, forming a "golden pocket rebound"
❌ Once it falls below, it will open the "shadow zone", and the price may explore the $0.14-$0.12 area
This is not technical analysis metaphysics, but a convergence point of "directional turning": if it can be held, the bulls will make a comeback; if it cannot be held, the bulls will be directly liquidated.
Community discussions are also very intense. Some people questioned Kevin's "changing style too quickly", and he responded very simply:
"Don't cry in the casino. I suggested selling at $0.40 and buying at $0.14. I said 'If the support breaks, it will fall', the logic has always been clear."
IV. IMX: Dangerous technical signals before token unlocking
At the same time, IMX (Immutable X) is also facing multiple negative factors:
📉 Price fell from a high of $0.67 in July to $0.51, a drop of over 25%
📉 Broke below the 20-day moving average, approaching 50-day support
⚠️ Forming a "descending triangle" structure, facing the risk of three tests of the support level of $0.35
🧨 24.52 million IMX tokens will be unlocked on August 8 (1.3% of circulating supply)
What does this structure mean? In currency circle language, it means:
If $0.35 is lost, it may cause a chain collapse, opening up a big pit below.
However, the technical aspect also leaves a glimmer of hope:
✅ If it holds $0.35 and rebounds strongly, it may form a "triple bottom" structure
✅ If it breaks through the downward trend line, it is expected to challenge the $0.67 high again
In the short term, the unlocking period will be an important moment to test IMX's resilience. Investors need to pay close attention to key technical levels and capital flows.
V. Ethereum ETF: A ray of sunshine piercing through the haze
Just when the currency circle was in turmoil, Ethereum spot ETFs quietly broke records and went out of their own "independent market".
On July 31, Ethereum ETFs achieved the 20th consecutive day of net inflows, setting the longest inflow record since their inception! 💰
Net inflow on the day: $17 million
Among them, BlackRock ETHA: inflow of $18.2 million (accounting for the majority)
Fidelity FETH: inflow of $5.62 million
Grayscale ETHE still outflows $6.8 million, but the impact is limited
📈 Currently, the total assets of Ethereum ETFs have reached $21.52 billion, accounting for 4.77% of ETH's market value
ETF craze indicates: Institutional investors are increasing their Ethereum exposure
In addition, the following trends are worth paying attention to:
✅ Regulators actively expressed their views: SEC Chairman said that "most cryptocurrencies are not securities", opening the green light for future ETFs
✅ SOL (Solana) ETF application documents have been submitted, and XRP, DOGE and other tokens are also considered to have the potential to enter the ETF sequence
✅ Bitcoin ETFs on the same day saw net outflows of over $110 million, with capital rotating into ETH
This shows that ETH is gradually moving from a "follower" to a "protagonist".
VI. Bitcoin style returns, "dominance" rises again
When altcoins are fully corrected, Bitcoin's performance, although weak, is clearly more resistant to declines. This is also reflected in the capital indicators:
📈 Bitcoin market dominance is rising, reflecting that investors are avoiding high-beta assets in the current stage and returning to relatively stable assets such as BTC.
Although BTC has fallen below $116K, it has not triggered panic similar to the 2022 level, indicating that the underlying belief is still there, but it is just a short-term "cooling-off period".
VII. How will funds move next? These points are worth noting
🔁 Market style has clearly shifted: risk aversion > high Beta
The high volatility stage of altcoins has passed
Leverage + popular memes begin to fall out of favor
BTC and ETH are still the preferred choice of main funds
💧 Liquidity contraction becomes real, and the liquidation tide may not be over
The amount of bull liquidation has increased sharply
Unlocking + macro risks resonate
If there is another volume decline in the future, the risk of small currencies will increase greatly
🧠 The critical point of the technical structure is concentrated
Dogecoin, IMX, etc. are near key support lines
Forming a turning point, rebound, or continued bottoming out possibility
Final thoughts: Is it a big drop or a major wash?
This callback is different from the "technical retracement" in the previous months. It contains more macro, policy and psychological turning signals 🧘:
🏦 Institutions are slowly absorbing goods with ETFs, especially ETH
📊 Retail investors have been liquidated after chasing highs, and risk appetite has dropped sharply
🔄 The market pattern is shifting from "frenetic rotation" to "cautious accumulation"
For investors, this is not a reason to leave the market, but an opportunity to reorganize their strategy.
The current market is more suitable for calmness, strategy, and review - not blindly chasing highs, but looking for real value depression and support points.
The currency circle changes quickly, and opportunities and risks coexist. Learning to enter and exit the market strategically and protect the principal can ensure steady progress and harvest wealth and growth. ✍️
Remember to DYOR, do a good job in risk control, and wish you all a smooth sailing in the crypto world! 🌊
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