Crypto Market Analysis: Bitcoin Challenges the $110,000 Mark, Ethereum Approaches Key Resistance Level

Market Overview

The uncertainty of the U.S. tariff policy continues to affect the market. Although the tariff deferral period has been extended to August 1, concerns have been raised again about the threat to increase taxes on imported goods from major trading partners. The tariffs currently in place equate to a tax of 1.5% of GDP on U.S. importers, with annual tariff revenue exceeding $300 billion. The lagging effects of this on inflation are expected to be reflected in the July CPI data.

The Federal Reserve faces a dilemma. One-year inflation expectations have fallen to 3%, but pressures in specific areas such as healthcare costs and university tuition remain significant. The labor market shows conflicting signals, with concerns about unemployment easing but the difficulty of reemployment increasing.

Hong Kong is about to implement the "Stablecoin Regulation", and the market is full of expectations for compliance dividends. Related concept stocks have surged recently, reflecting investors' optimistic expectations for the industry's prospects after the regulatory framework is clarified. The regulatory framework will cover core requirements such as anti-money laundering and reserve audits, with the first batch of licenses expected to be issued within the year. However, stablecoins still face challenges in disrupting traditional payment systems, including issues of profit distribution, cross-border regulatory coordination, and extreme market risks.

Crypto Market Analysis

Bitcoin is fiercely battling around the $110,000 mark. If it cannot break through this resistance level, it may fall back to $100,000; conversely, it could aim for $120,000. Optimistic predictions suggest that Bitcoin could rise to the range of $120,000 to $125,000 in the next phase. From a long-term perspective, the peak of this bull market may occur between mid-September and mid-October 2025.

After Ethereum broke through $2600, it is approaching the triangle resistance level at $2630. Investors should pay attention to changes in trading volume to confirm the trend. The optimistic sentiment in the market has also driven up the stock prices of related listed companies, such as GameSquare, Sharplink, and Bit Digital.

In terms of altcoins, Vertex announced the migration of its DEX and the elimination of the native token VRTX, leading to a 60% drop. The Solana ecosystem token LetsBONK experienced a decline of over 30%, with the market currently lacking new hotspots. Notably, the $Lore token surpassed a market cap of 2 million dollars due to social media promotion.

Key Data

• Bitcoin: $108,513 (Year-to-date +15.99%), Daily Trading Volume $21.324 billion
• Ethereum: $2,600.10 (Year-to-date -22.06%), Daily trading volume $15.521 billion
• Fear and Greed Index: 67 (Greed)
• Market share: BTC 64.2%, ETH 9.3%
• Total liquidation amount in 24 hours: 121 million USD

ETF Fund Flow

• Bitcoin ETF: +$80.08 million, net inflow for 4 consecutive days
• Ethereum ETF: +46.6308 million USD, continuous net inflow for 3 days

Important Events

• A certain trading platform will launch the RCADE project for the first time.
• The Federal Reserve will release the minutes of the monetary policy meeting.
• The number of initial jobless claims in the United States is expected to be announced.

Market Highlights

• a16z Crypto cleared its COMP holdings and transferred 400,000 COMP to a certain platform.
• Tether holds $8 billion worth of gold in a secret vault in Switzerland.
• Global gold ETFs increased by $38 billion in the first half of the year, with daily trading volume setting a half-year record.
• SharpLink increases its holdings of Ethereum, with total holdings exceeding 200,000 coins.
• Public company Murano plans to establish a Bitcoin reserve through a $500 million equity transaction.
• Bit Digital sells Bitcoin to buy Ether
• GameSquare raised $8 million to launch its Ethereum fund management strategy.