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Cryptocurrency Market Review for August 1: A look at Ethereum, Ripple, Cardano, Solana, and Hyperliquid

Ethereum (ETH) faced a 4% loss after failing to hit the $4,000 target, suggesting potential for a significant pullback. Ripple (XRP), also down 4%, struggled to maintain above $3 due to increased sell volume, indicating a continued downtrend. Cardano (ADA) experienced a 10% drop this week, as it couldn’t stay over the $0.90 resistance.

Solana (SOL) is facing a downtrend after being rejected at $200, and could potentially fall to key support at $164 or $150. Hyperliquid (HYPE) had a disappointing week with a 7% drop, hinting at a possible loss of its $40 support level, which could lead to a bearish trend in the short to medium term.

Federal Reserve Maintains Rates, New Tariffs from Trump, and Crypto Market Response: A Synopsis of the Week's Crypto Events

The past week was marked by the Federal Reserve's decision to leave rates unchanged for the fifth consecutive time, leading to an immediate reaction in Bitcoin's price. Despite a brief dip following the announcement, Bitcoin managed to recover and maintain its highest monthly closure at about $115,000, even with a 2.5% weekly decrease.

Altcoins experienced more significant declines, with ETH and XRP dropping by 5% each, and SOL, DOGE, ADA, HYPE, XLM, SUI, LINK, HBAR, and others seeing up to 10% losses. Bitcoin's slide was further influenced by President Trump's new set of tariffs. Additionally, Ethereum ETF inflows surged in July, and Bitcoin whales increased their holdings after the latest market correction. Despite these developments, the week concluded with a positive outlook for altcoins, according to analytics company CryptoQuant.

Examining Bitcoin's Market Woes: Is the 3% Daily Fall Just the Beginning?

Bitcoin's price is exhibiting weakness as it faces increasing selling pressure, causing it to approach a critical multi-month support zone. A confirmed breach could lead to a sharp drop towards the $111K mark. After a prolonged period of sideways movement, Bitcoin's price has turned downwards, suggesting a rise in selling interest. This movement brings it to test a significant support near $114K, which aligns with the lower boundary of its historical price channel.

The Binance BTC/USDT liquidation heatmap reveals a tense standoff in the current market structure, with Bitcoin’s price trapped between two significant liquidity pockets. As Bitcoin hovers near the $114K mark, a downward breakout becomes more likely, which could trigger a chain reaction of stop-outs and liquidations, leading to sharp downside momentum.

Overview of Ethereum's Price Drop, Cardano's Future Projections, and Other Crypto News - August 1 Recap

The overall cryptocurrency market, including Ethereum (ETH) and Cardano (ADA), experienced a significant setback recently. ETH saw a 6% decrease, but continued interest from 'whale' investors and a decline in exchange balances suggest a potential recovery in the near future. Meanwhile, the ADA token faced an 8% decline, hitting its lowest since mid-July.

However, analysts remain positive, predicting a surge beyond $4 if the asset can overcome a key resistance at $0.92. Bitcoin (BTC) also experienced a drop, briefly falling below $114,500. Despite this, bullish predictions suggest a breakout to $145K-$150K is possible, supported by an oversold Relative Strength Index (RSI) indicating a potential resurgence.

Leading 10 Providers of Blockchain Solutions with White Label Option

This review lists the top ten white-label blockchain platforms available in 2025. The platforms offer robust, customizable infrastructure, enabling entities to launch exchanges, wallets, NFT platforms, or payment systems swiftly without having to build from scratch. These solutions provide cost savings in development, expedite launch time, and allow focus on branding and user growth.

The platforms include ChangeNOW, Blockchain App Factory, Antier Solutions, ChainUP, B2Broker, HollaEx, Coinsclone, LeewayHertz, Infinite Block Tech, and Velmie. These platforms are not all equal; some are better suited for startups, while others are better suited for enterprises. Choosing the right one depends on your project’s needs, budget, and timeline.

Trump's Tariff Adjustments Lead to a $600M Drop in BTC, Hitting a 3-Week Low

The cryptocurrency market, including Bitcoin (BTC), has been significantly impacted by US President Donald Trump's tariffs against multiple nations, with BTC plunging to a 3-week low of under $114,500. Trump's recent executive order imposed a 10% tariff on goods from all countries other than the 92 listed in an annex that face higher rates, and raised tariffs on Canadian goods from 25% to 35%.

Following the order, the crypto market experienced a substantial correction, with the total market cap declining by over $150 billion since yesterday's peak. The correction resulted in the liquidation of over $650 million worth of positions, with more than $600 million attributed to longs.

El Salvador Assists Bolivia in Formulating Cryptocurrency Regulations

El Salvador's National Commission for Digital Assets (CNAD) has partnered with the Central Bank of Bolivia (BCB) to share expertise and experience in creating regulatory frameworks for digital assets. The memorandum of understanding, signed by the heads of both institutions, looks to promote cooperation and exchange of regulatory and technical knowledge, including blockchain intelligence tools and risk analysis.

This development is a significant stride for Bolivia, which has seen a substantial increase in digital asset usage since the issuance of Decree 082/2024. El Salvador, a leader in crypto asset regulation and adoption since its Bitcoin Law was passed in 2021 and Bitcoin became legal tender, continues to take a pro-innovation approach to digital assets.

Is Altseason Going Strong? CryptoQuant Data Suggests Affirmative

CryptoQuant indicates that the anticipated altcoin season is in full swing, with Ethereum leading the charge. Charts tracking trends for Ethereum, Bitcoin, and other metrics, show increased investor participation, suggesting a market shift. Ethereum has surged 170% from its recent lows and sits 23% short of its all-time high, largely due to a substantial investment by online games developer, SharpLink.

Bitcoin dominance is declining as altcoins shine, with altcoin futures trading volume hitting a five-month high of $223.6 billion. Retail demand is back, with Bitcoin transactions under $10,000 rising 9.7% in a month. However, increased retail participation often signals the end of bull cycles, suggesting that the current bull market may soon conclude.

Inflows Noted in Bitcoin ETFs for 29 Out of 33 Days - Significance of this Trend

Bitcoin ETFs have experienced net inflows for 29 of the last 33 trading days, with a total accumulation of over $55 billion, indicating a continued bullish sentiment in the crypto market. This has been amidst a consolidation phase where Bitcoin is trading near $116,000-$119,000. On July 30, the net inflows into Bitcoin ETFs were $47.03 million, with BlackRock's IBIT and Bitwise's BITB leading the way.

Ethereum ETFs also saw an extended streak with $5.79 million in net inflows, with significant contributions from BlackRock's ETHA and Grayscale's ETHE. Institutional investment and positive regulatory developments are seen as strengthening the potential for new highs, despite Bitcoin being currently rangebound.

The Reasons Behind Polkadot's (DOT) Anticipated Surpassing of Ethereum (ETH)

Polkadot (DOT) has come into the spotlight due to ETF developments and rising chart strength, suggesting a potential shift against larger assets like Ethereum. The US Securities and Exchange Commission's new ETF listing standards, which allow ETFs on assets with more than six months of regulated futures trading, have been met by DOT, and asset managers like Grayscale and 21Shares are developing DOT-backed exchange-traded products.

Additionally, Polkadot's impending network upgrade, JAM, adds parallel chains and eliminates fees, attracting more developers. With the price near key levels, the surge in volume hints at possible momentum shift. Despite a slight dip over the past week, the price and volume trends suggest a promising future for Polkadot, potentially even outpacing Ethereum.

Ethereum Overcomes Prediction of Downturn as Experts Forecast $5,000 Milestone by August

Ethereum continues to hold on to its recent gains, defying predictions of a short-term correction. It's currently moving toward the upper end of its two-week range, with the potential for an imminent breakout. Crypto analysts have noted that Ethereum's strength is preventing any significant correction. Meanwhile, Benjamin Cowen, CEO of ITC Crypto, suggests that Ethereum will break the $4,000 mark and predicts a new trading range of $5,700 to $7,500.

Another prediction puts Ethereum at $5,000 by the end of August. This comes as Ethereum tests the $3,900 resistance zone, a level it has approached twice in the past week. The Ethereum community marked its 10th anniversary with the NASDAQ closing bell. Institutions continue to accumulate Ethereum, with Ether ETFs equaling their record 19-day inflow streak.

Market Rebounds for Bitcoin and Other Cryptocurrencies Following Federal Reserve's Interest Rate Verdict

Bitcoin experienced considerable volatility after the conclusion of the recent FOMC meeting, but it has since regained its losses. The same recovery trend is seen in most altcoins, with Ethereum nearing $3,900 and ENA seeing another double-digit surge.

Despite a significant dip to below $116,000, likely due to the absence of any strategic bitcoin reserve in the White House’s latest digital asset report, Bitcoin rallied and is on the brink of $119,000. Its market cap has increased to $2.360 trillion, accounting for 59.4% dominance over altcoins. The overall crypto market cap has risen by $30 billion overnight, reaching $3.970 trillion. This rebound came in the wake of the US Federal Reserve's decision to maintain the current interest rates.

SOL and ETH Lead Crypto Discussions Across Various Platforms, XLM and TRX Join In

Santiment reports Solana (SOL), Ethereum (ETH), Stellar (XLM), and Tron (TRX) are currently dominating social media discussions on cryptocurrency. SOL leads the trend, with rising conversations driven by institutional activity, DeFi developments, NFTs, and regulatory updates. ETH is also trending across multiple platforms with different focal points.

Meanwhile, XLM discussions are centered on its price movements and market behavior, while TRX is recognized for its role in stablecoin transfers. Other cryptocurrencies like Vine (VINE) and Omni (OMNI) are also gaining social traction due to various factors, including massive price gains and Elon Musk's influence. However, traders warn of potential short-term pullbacks due to the volatility of these tokens.

Bitcoin Market's Current Overheating Less Intense Than Previous Correction Periods

The cryptocurrency market is experiencing a period of cooling off after a short-term overheating phase that is less severe and shorter in duration than previous cycles, according to CryptoQuant. This implies a potential for a small short-term dip for Bitcoin. The current cooling off period is deemed less intense, based on the proportion of Bitcoin held for a week or less. CryptoQuant predicts that a correction, if any, would be milder and shorter, suggesting a healthy market cycle. There could be an uptrend in the latter half of 2025, particularly if market conditions are favorable.

While the market appears to be consolidating, Bitcoin is testing a key resistance level, and the overall structure remains bullish. A breakout above $120.5K could mean a continuation of the upward trend. Finally, Bitcoin's current price of $118K is prompting long-term holders to sell off some of their holdings.

Federal Reserve Disregards Trump's Appeals for Rate Cuts: Potential Impact on Bitcoin's Value

Ignoring repeated requests from US President Donald Trump, the Federal Reserve has decided not to reduce the key interest rates. The decision, which was largely anticipated, followed a strong second quarter GDP report from the US, suggesting a significant economic recovery after the first quarter correction. Despite Trump's numerous calls, including a recent request for the largest rate cut in history, the Federal Reserve officials voted 9-2 to maintain the current rates.

Following the decision, Trump indicated that he believes the central bank will lower the rates in their next meeting in September. The value of Bitcoin, which often responds to the Federal Reserve's actions, had stabilized around $118,000 prior to the decision. Despite some volatility surrounding the announcement, it has returned to a similar level.

Breaking News: JPMorgan Enables Cryptocurrency Purchases with Chase Cards via Coinbase Partnership

JPMorgan & Chase has partnered with Coinbase to allow Chase customers direct access to cryptocurrency. Starting this fall, Chase credit card holders will be able to fund their Coinbase accounts directly, a feature that is a first of its kind between a major bank and a crypto exchange.

In 2026, customers will have the ability to make direct bank-to-wallet transfers via JPMorgan’s secure API and convert Chase Ultimate Rewards points to Coinbase at a 1:1 rate. This is the first time a credit card rewards program can fund a crypto wallet. Additionally, JPMorgan is considering the launch of crypto-backed loans using Bitcoin and Ethereum as collateral, potentially starting in 2026.

Trump Urges Powell for Another Rate Cut as Q2 Sees US Economy Exceeding Expectations

The US GDP report for the second quarter of the year showed an impressive annualized growth rate of 3% compared to last year. Following the release of this report, President Donald Trump once again urged the Federal Reserve to lower interest rates. The 3% increase in Q2, a significant rise from predictions of a modest 2%, is believed to be due to businesses scaling back on imports.

This economic growth strengthens Trump's push for a rate cut, following a 0.5% correction observed in Q1. Trump has been using this positive development to pressure Fed Chair Jerome Powell into reducing rates, a move that could potentially benefit the price of Bitcoin, which closely follows the macro developments in the world's largest economy.

Could XRP Surpass ETH? ETF Discussions Ignite Memories of 2017

Signalling a potential shift towards runs last seen in 2017, XRP/BTC has broken its seven-year range. As Ripple nears a settlement with the SEC, talks of an ETF intensify, further contributing to the momentum. Additionally, whale wallets have purchased 60M XRP in 24 hours, adding $180M in buying pressure and XRP trades at $3.10, nearing its recent all-time high. Analysts suggest a true breakout could take it above $26.

With the SEC case concluding and the introduction of XRP spot ETFs, this could be the catalyst for a potential breakout. XRP's rise could even position it as the number 2 coin in terms of market cap, surpassing ETH. On-chain indicators also hint at a possible continuation, contributing to the speculation.

Why Bitcoin's Mundane Phase Could Conclude with a Significant Surge

Bitcoin's prolonged phase of trading sideways with no clear trend dominance might culminate in a substantial price movement. For weeks, the cryptocurrency has been trading between $116.8K and $119.5K, a pattern crypto analyst Michaël van de Poppe finds 'boring' but indicative of a potentially stronger move. Simultaneously, CryptoQuant data reveals the market is in a 'neutral' phase, reflecting a balance between selling activity from long-term holders, ETF inflows, and overall demand.

Analysts also note a short-term cooling period and a decline in the number of Bitcoin wallets holding more than 10,000 BTC, patterns reminiscent of the 2020-2021 bull market. These on-chain signals hint that the current bull cycle may be nearing its end, suggesting traders may want to brace for a significant price movement.

Bitcoin's Ascent to $120K at Risk as Binance Receives $2B BTC from Miners

Bitcoin's attempt to hit the $120,000 mark is under threat due to a massive single-day deposit by miners into Binance. On July 25, over 18,000 BTC, valued at more than $2 billion, was sent to the exchange, coinciding with a $650 million USDC withdrawal event, which raised liquidity concerns. This move marks a departure from the miners' previous cautious attitude, potentially due to increased operation costs and mining difficulties. Large inflows to exchanges have often led to periods of consolidation, according to analyst Amr Taha.

This, coupled with Binance's largest USDC net outflow in over two months, indicates potential shifts in short-term supply and liquidity. Despite these challenges, Bitcoin's long-term potential remains strong, with market watchers closely observing if it can maintain support above $115,000.