The crypto market cap is holding steady between $3.6T and $3.8T ๐ฐ, as traders begin to rotate into micro-cap tokens ๐ช during early August. Analysts are warning this could signal a typical summer slowdown ๐ค in trading activity.
๐ Bitcoin Showing Signs of Fatigue
Despite overall market stability, Bitcoin $BTC ๐ is repeatedly testing its 50-day moving average ๐ โ a sign of potential market exhaustion.Such frequent testing of the medium-term trend signal line indicates accumulated fatigue in the first cryptocurrency,โ one analyst explained.
๐ช BTC Price: $114,667.61
๐ Crypto Market Cap: ~$3.72T
๐ 50-day SMA: $3.57T
๐ฆ Institutions Still Buying Big
While retail traders cool off, institutions are doubling down ๐ผ. Strategy acquired 21,021 BTC in July โ worth $2.46B ๐ธ.In total, large entities added 26,700 $BTC
during the month.Public & private companies now collectively hold 1.35M BTC โ over 6% of Bitcoinโs total circulating supply ๐
๐ช Stablecoin Growth Continues. The stablecoin market keeps expanding ๐. ๐ Ethenaโs USDe has officially become the 3rd largest stablecoin by market cap โ showing increased interest in DeFi-based alternatives.
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