Currently, the total cryptocurrency market cap is $4.04 trillion, with BTC accounting for 58.63% at $2.36 trillion. Stablecoin market cap is $273.4 billion, with a 1.39% increase in the past 7 days, of which USDT accounts for 60.43%.
Among the top 200 projects on CoinMarketCap, most are up with some down, including: OKB with a 7-day increase of 111.49%, AERO with a 7-day increase of 63.84%, RAY with a 7-day increase of 30.44%, SKL with a 7-day increase of 109.68%, USELESS with a 7-day increase of 52.53%.
This week, US Bitcoin spot ETF net inflow: $547.7 million; US Ethereum spot ETF net inflow: $2.852 billion.
Market Forecast (August 18 - August 22):
This week saw significant stablecoin issuance, continued net inflows for US Bitcoin and Ethereum spot ETFs, and substantial gains for Altcoins. The RSI index is 44.15, indicating overbought conditions. The Fear and Greed Index is 59 (lower than last week).
BTC: After breaking $123,218, looking to $125,000, potential pullback if the Fed takes a hawkish stance, with support at $112,000;
ETH: With continuous corporate purchases, ETH may challenge $5,000, with support at $4,400;
Short-term traders should watch key resistance/support levels, long-term investors should use pullbacks for positioning, and pay attention to September's rate decision and Bitcoin halving cycle window.
Understand Now
Review of Major Events This Week
1. On August 12, according to Jupiter data, in the Solana token issuance platform market share ranking in the past 24 hours, pump.fun ranked first with 69.7%, Letsbonk ranked second with 15.2%, and BAGS ranked third with 9.14%;
2. On August 12, Ethereum reserves on CEX dropped to the lowest level since July 2016, declining 6.7% in Q3 so far this year;
3. On August 12, billionaire Peter Thiel again positioned in Ethereum, with SEC documents revealing that Thiel and his investment team acquired 7.5% of ETHZilla's (formerly 180 Life Sciences Corp.) shares;
4. On August 13, according to 8Marketcap data, as ETH briefly broke $4,600, ETH market cap temporarily reported at $55.6 billion, surpassing Netflix to rank 25th in global asset market cap;
5. On August 13, Bitmine Immersion (BMNR) announced plans to increase financing by $20 billion to acquire more ETH;
6. On August 12, Aave announced active loan amount exceeded $25 billion, a historical high;
7. On August 14, according to rockflow data, crypto trading platform Bullish (BLSH) rose 83.78% on its first day of US stock listing, closing at $68, with a market cap of $9.94 billion, trading volume of $5.176 billion, and turnover rate of 185.45%;
8. On August 14, Bitcoin briefly broke $124,000, continuing to create new highs, reaching a peak of $124,051, currently at $123,930, with a 24-hour increase of 3.29%;
9. On August 14, US Treasury Secretary Becent stated that (regarding crypto reserves) they will not purchase, but will use confiscated assets.
Macroeconomy
1. On August 12, US July unadjusted core CPI year-on-year rate further rose to 3.1%, a five-month high, higher than the market expected 3.0%, previous value 2.90%;
2. On August 12, US July unadjusted CPI year-on-year rate 2.7%, expected 2.80%, previous value 2.70%. Flat from last month, slightly lower than expected;
3. On August 14, after US July PPI data, the probability of the Fed cutting rates by 25 basis points in September slightly decreased to 92.5%, with a 7.5% chance of maintaining current rates;
4. On August 14, US initial jobless claims for the week ending August 9 were 224,000, expected 228,000, previous value revised from 226,000 to 227,000.
ETF
According to statistics, from August 11 to August 15, US Bitcoin spot ETF net inflow: $547.7 million; as of August 15, GBTC (Grayscale) has outflowed a total of $23.758 billion, currently holding $23.151 billion, IBIT (BlackRock) currently holding $88.6 billion. Total market value of US Bitcoin spot ETFs: $153.043 billion.
US Ethereum spot ETF net inflow: $2.852 billion.
Foresee the Future
Event Announcements
1. Coinfest Asia 2025 will be held from August 21 to 22 in Bali, Indonesia;
2. WebX Asia 2025 will be held from August 25 to 26 in Tokyo, Japan;
3. Bitcoin Asia 2025 will be held from August 28 to 29 at the Hong Kong Convention and Exhibition Centre.
Important Events
1. August 20, 10:00, New Zealand Reserve Bank to announce interest rate decision;
2. August 21, 20:30, US to release initial jobless claims for the week ending August 16;
3. August 22, 22:00, Fed Chair Powell to speak at the Jackson Hole Global Central Bank Annual Meeting.
Token Unlocks
1. ZKsync (ZK) will unlock 172 million tokens on August 17, valued at approximately $11.22 million, representing 3.61% of circulating supply;
2. Fasttoken (FTN) will unlock 20 million tokens on August 18, valued at approximately $91.4 million, accounting for 2.08% of the circulating supply;
3. LayerZero (ZRO) will unlock 25.72 million tokens on August 20, valued at approximately $55.53 million, accounting for 8.53% of the circulating supply;
4. KAITO (KAITO) will unlock 23.35 million tokens on August 20, valued at approximately $25.22 million, accounting for 8.82% of the circulating supply.
