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Solana [SOL] is accumulating bullish momentum after rebounding from a critical convergence zone of overlapping rising trend line support and the golden Fibonacci retracement range (0.618-0.7).
Technical setups indicate that Solana may be preparing for a new round of bull market.

The random RSI is in the oversold zone at the time of writing, further boosting confidence in the bullish outlook—an important indicator suggesting that Solana may have found a local bottom.
A technical combination—support rebounds plus momentum resets—often precedes strong upward price movements in trending markets.

On Thursday (August 7), in the early morning of Asia, Bitcoin hovered below $115,000, rising 1% within 24 hours. It is currently still in a correction phase after a historical high, with thin market trading and lack of confidence. Investors are weighing economic factors and expectations that the Federal Reserve may cut interest rates.
Meanwhile, Ethereum faces selling pressure near the key resistance area around $4,000, with selling pressure reaching $419 million, the second-highest in history. This price level previously triggered a 66% drop at the end of 2024, hence there is currently a 25% to 35% downside risk. Nevertheless, 48% of bettors on the Polymarket platform are still betting that Ethereum will rise to $5,000.

In July 2025, the price of Ether soared nearly 50%. Investors are focusing on stablecoins, asset tokenization, and institutional adoption—these areas are the core advantages that differentiate Ethereum as the oldest smart contract platform from its competitors.
The passing of the (GENIUS Act) is a milestone moment for stablecoins and the entire crypto asset class. While market structure-related legislation may still take time to pass in Congress, U.S. regulators can continue to support the development of the digital asset industry through other policy adjustments, such as approving staking features in crypto investment products.

According to Glassnode analysis, the market is retesting the low liquidity range below the $114,000 threshold, the exuberance phase of the market has paused, and Bitcoin is entering a reconstruction phase. Signals from various market segments indicate that market momentum is cooling, position deployment is becoming cautious, and risk appetite has weakened.
In the spot market, the market situation has significantly weakened, with the Relative Strength Index (RSI) dropping from 47.4 to 35.8, breaking below the low range and entering the oversold zone. The cumulative volume difference of the spot market (Spot CVD) has sharply deteriorated from -$107.1 million to -$220 million, reflecting increased selling pressure. Spot trading volume also decreased from $8.4 billion to $7.5 billion, indicating a decline in market participation and liquidity during the retesting of support levels.

After a strong rally in July, Dogecoin's price has also encountered a slowdown like other markets. Consequently, short sellers seem to be regaining control, with Dogecoin's price declining further after a significant breakthrough at the $0.20 level. However, compared to the persistently bullish sentiment among investors, the current decline seems negligible, as investors expect this pullback to be temporary.
Dogecoin's price still shows bullish signs.
According to cryptocurrency analyst KrissPax, Dogecoin's price may currently be declining but has not completely lost its upward potential. This is because this meme coin is currently in a bullish formation, retracing to test levels that previously led to significant price increases.

On Monday (August 4), trading in the Asian market began with Bitcoin rising slightly above $114,000, after unexpected weak non-farm data caused it to fall below the $115,000 mark, dipping to support near $112,000. The overall market atmosphere turned cautious due to deteriorating global risk sentiment, increased inflows to exchanges, and technical pattern breakdowns.
As of the time of writing, Bitcoin's current price is about $114,667, down over 6% from the mid-July high of $123,300. Technical indicators suggest a bearish short-term outlook, with Bitcoin having broken below a symmetrical triangle pattern and forming a typical 'three black crows' pattern on the 4-hour chart, which usually signals a continued downward trend.

Optimistic about two rate cuts within the year, but wary of the market correction risk in August. Currently, the total market capitalization of cryptocurrencies is $3.7 trillion, with BTC accounting for 61.2%, which is $2.26 trillion. The market capitalization of stablecoins is $266.9 billion, with a 7-day increase of 0.65%, of which USDT accounts for 61.67%.
Among the top 200 projects on CoinMarketCap, a small number rose while most fell, including: TON with a 7-day increase of 13.64%, ZORA with a 7-day increase of 40.39%, ZBCN with a 7-day increase of 26.02%, USELESS with a 7-day decrease of 31.66%, and FARTCOIN with a 7-day decrease of 31.79%.
This week, the U.S. Bitcoin spot ETF saw a net outflow of $642.9 million; the U.S. Ethereum spot ETF saw a net inflow of $155 million.

The U.S. Securities and Exchange Commission (SEC) officially accepted the application for the Canary PENGU ETF from Canary Capital on August 1. This is the first spot ETF to package meme coin PENGU and Pudgy Penguins NFTs together, knocking on the door of mainstream investors.
Exchange-traded funds include meme coins and NFTs for the first time
The Canary PENGU ETF filed its application on March 20 this year. According to the application, this ETF mainly holds PENGU tokens, with a weight allocation of about 80%–95%; an additional 5%–15% is allocated to top Pudgy Penguins NFTs.
According to the application, the fund managers expect to adjust the NFT holdings based on rarity, visual appeal, and market price fluctuations, while also holding a small amount of native tokens from Solana and Ethereum to ensure liquidity. By ETF-ing 'on-chain operations', investors can buy and sell highly volatile meme coin mixed NFT digital assets within familiar securities accounts.

On Friday (August 1), trading in Asia opened with Bitcoin currently priced at $115,827, expected to close down 2.3% during the week of Asian trading hours, after briefly falling below the $115,000 mark due to new tariffs from the U.S. Despite the apparent pullback, BTC remains within the consolidation range.

Ethereum maintained around $3,800 on Thursday, with a gain of over 50% in July, marking the best single-month performance since 2022. The market is generally optimistic about further breakthroughs, with analysts predicting this cycle will hit the $15,000 to $16,000 range. Contributing factors include $5.3 billion flowing into the U.S. spot Ethereum ETF and continued strong institutional demand.

On Thursday (July 31), entering the Asian market trading session, Bitcoin continued to hold steady above $118,000. The Fed's decision to keep rates unchanged did not bring more waves to the crypto market, as the market awaits more economic data to gauge future trends.
Bitcoin's price still firmly holds above the support area of $117,500, is rising, and may attempt to break through the resistance area at $118,600 to gain more bullish momentum.
On Wednesday, due to Fed Chair Jerome Powell's hawkish remarks triggering over $200 million in liquidations, the crypto market became volatile, and Bitcoin briefly fell below $116,000, but has now recovered above $118,000.

In a plan to merge with Dynamix Corporation, The Ether Machine announced this morning (31) on X that it has purchased nearly 15,000 Ether (ETH). After the transaction, the institution's total ETH holdings have reached 334,757, with up to $407 million in funds reserved for further increasing its ETH position.
The Ether Machine stated in the post:
"We cannot imagine a better way to commemorate the 10th birthday of Ethereum than by deepening our commitment to ETH. We are just getting started. Our mission is to accumulate long-term, compound, and support ETH, seeing it not only as a financial asset but as the cornerstone of a new type of digital economy."

On Wednesday (July 30), the Fed maintained rates for the fifth consecutive meeting, despite ongoing pressure from President Donald Trump and White House officials. Internally, there was a rare situation where two governors opposed the decision, highlighting the growing divisions over the impact of Trump's tariff policies.
At this meeting, the Fed kept the federal funds rate benchmark unchanged in the range of 4.25%-4.5%, consistent with the policy since 2025. Last fall, the Fed had cumulatively cut rates by 100 basis points.
However, Fed governors Christopher Waller and Michelle Bowman cast dissenting votes in support of a further rate cut of 25 basis points, marking the first time since Alan Greenspan's era in 1993 that two governors collectively opposed the majority decision in a single meeting.

Entering the Asian market on Wednesday (July 30), ahead of the Federal Reserve's key interest rate decision, Bitcoin's price remained stable, fluctuating around $117,000, awaiting further direction.
After a rebound over the past weekend, Bitcoin has fallen 2%, remaining in a narrow trading range between $117,000 and $119,000 for two consecutive weeks. Meanwhile, Ethereum benefits from over $5 billion in ETF inflows and active derivatives trading, strongly approaching the $4000 mark. Market sentiment for XRP has also clearly improved, with investors hoping for increased regulatory clarity.

Bitcoin [BTC] has had a lackluster performance this week, but not without noteworthy signals.
According to a recent report from Glassnode, BTC ETF inflows have dropped an astonishing 80% compared to the previous week, marking the largest decline in months.
For a market primarily driven by institutional enthusiasm, this pullback is hard to ignore.
Continued popularity of derivatives
However, despite this, the derivatives market remains hot. According to CryptoQuant data, the number of open contracts for CME futures remains high.
This indicates that even if ETF inflows slow down, traders (especially short-term speculators) still expect gold prices to rise further.

In July this year, the increase in Binance Coin [BNB] may lag behind Ethereum [ETH] by over 50%, but it has not stagnated.
Binance Coin has set higher highs on the monthly chart, with the $861 wick indicating a clear bullish intention.
Meanwhile, the BNB/BTC ratio has only increased by 13%, while the ETH/BTC ratio has risen by 40%. This discrepancy highlights that BNB's momentum comes more from on-chain strength rather than high beta market liquidity.
Several indicators reinforce this structural narrative.
Since the Maxwell fork, Binance Chain's block time has been reduced from 1.5 seconds to 0.75 seconds. Its impact is evident: in the past three months, daily trading volume has surged by 142.8%, while Ethereum's increase has only been 24.3%.

According to Glassnode analysis, in the past week, Bitcoin's spot price has retreated after reaching an all-time high, triggering market consolidation and presenting a complex situation of intertwined bullish and bearish forces. Despite the price pullback, the total value of open contracts in the futures market has slightly increased to $45.6 billion, maintaining a high level. Meanwhile, the funding rates for long positions continue to be paid, reflecting that the optimism of leveraged investors has not dissipated.

The cumulative trading volume difference in the spot market (Spot CVD) has shown significant improvement, indicating that after the price drop, buyers have entered the market to support prices, forming short-term support. However, the overall momentum in the spot market is gradually weakening, with the Relative Strength Index (RSI) dropping significantly from the overbought range of 74.4 to 51.7, showing that buying momentum has significantly weakened, and spot trading volume has shrunk to $8.6 billion, leading to a decrease in overall market participation.

On Monday (July 28), during the early Asian trading session, Bitcoin maintained a strong position above $119,000, continuing the upward momentum driven by recent institutional developments and breakthroughs in U.S.-EU trade. The CoinDesk 20 index rose by 2.37% to 4,099.18 points, indicating a continued recovery in the overall market.
Bitcoin has stabilized above $119,000, following an agreement between the U.S. and the EU, with data from CoinGlass showing that most short positions have been cleared.
Ethereum is currently priced at $3,867.76, up 3%; the on-chain fundamentals are strong—28% of ETH is staked, exchange balances have dropped to an 8-year low, and new buyer inflows continue to rise.

After facing rejection at $3.50, XRP has been trading within a narrow range, consolidating between $3.00 and $3.20 for the past four days.
However, activity in the derivatives market suggests that larger moves may be brewing behind this calm.

Open interest surged, but volatility also increased.
According to CryptoQuant, earlier this week, the open interest of Binance's XRP derivatives hit an all-time high, reaching nearly $3.9 billion, and has since declined to $3.08 billion as of the time of writing.
This surge indicates a significant influx of new capital, signaling strong speculative activity.

The cryptocurrency market is struggling today (25th), with Bitcoin breaching the $116,000 mark, and bulls are being hunted. According to CoinGlass data, over $415 million in long positions have been liquidated in the cryptocurrency derivatives market in the past 24 hours, with a total liquidation amount reaching $569 million.
As of the time of writing, Bitcoin has fallen over 2% to $115,535, with a long position liquidation amount reaching $129 million; Ethereum hit a low of $3,530 today but subsequently regained upward momentum, currently at $3,641, up 2.7% in the past 24 hours, with a derivatives liquidation scale reaching $142 million.

The wallet controlled by Ripple co-founder Chris Larsen has recently made significant transfers, sparking renewed market discussions.
According to on-chain detective ZachXBT, since July 17, Chris Larsen's wallet has successively transferred 50 million XRP, valued at approximately $161 million, with about $140 million flowing into addresses related to three exchanges; another 10 million XRP was transferred to two newly established wallets that have no trading records.
ZachXBT further pointed out that a total of 30 million XRP flowed into two addresses commonly used to transfer assets to exchanges; a third address received 10 million XRP; the remaining two transactions of 5 million XRP each are parked at two new addresses.