Crypto Market Weekly Report: Macroeconomic fluctuations cause market turbulence, Bitcoin faces a critical support level test.

Market Observation

Recently, the global macroeconomic situation has experienced fluctuations. The U.S. non-farm payroll data for July fell short of expectations, with only 73,000 new jobs added, and the data for the previous two months was significantly revised downwards. This situation has raised market concerns about slowing economic growth. At the same time, the sudden resignation of Federal Reserve Governor Quigley has created conditions for a new governor who may support interest rate cuts, thereby increasing market expectations for a rate cut in September.

Influenced by these factors, compounded by the pressure from new tariff policies and increased oil production, global risk assets are under pressure. Despite strong performances in earnings reports from large tech companies, stock prices have reacted tepidly, and small-cap stocks have suffered significant declines, indicating a lack of market breadth, with funds shifting towards safe havens. New York Federal Reserve President Williams believes that the labor market is cooling moderately but remains robust, and he holds an open yet cautious attitude towards a rate cut in September. However, the market generally believes that the Federal Reserve is facing a dilemma between rising inflation and a weakening job market, with the risk of policy missteps re-emerging.

In the Asia-Pacific region, the field of tokenization of real-world assets (RWA) continues to make progress. A globally pioneering RWA registration platform is set to launch, aimed at providing full-process services for the tokenization of physical assets. Industry analysts believe that the launch of this platform is an important step in regulatory innovation, helping to enhance market compliance and transparency. The strong confidence of the capital market in the RWA sector will further drive the research and development of related technologies and their application, injecting new momentum into the digital economy development across the Asia-Pacific region.

The price of Bitcoin fell below $112,000 over the weekend but has now rebounded to above $114,000. Several analysts believe that $112,000 is a key support level, and if it cannot stabilize, it may further decline to the $100,000-$110,000 range. However, there are also views that the reversal pattern of Bitcoin is still ongoing, with a long-term target price possibly reaching $140,000-$150,000.

On the Ethereum front, price performance has also attracted market attention. Some analysts predict that it may test $3000, but there are also opinions suggesting that the current price may be a false breakout, advising investors to remain cautious. At the same time, the tokenized asset trust (DAT) model is seen as a potential way to attract large-scale capital inflows from traditional finance. Some optimistic forecasts suggest that with Wall Street funds pouring in, the price of Ethereum could reach $10,000 to $20,000 within the next 12 months.

Key Data

• Bitcoin: $114,556, Year-to-date increase of 22.42%
• Ethereum: $3,555.34, year-to-date increase of 6.4%
• Fear and Greed Index: 64 (Greed)
• Market share: BTC 61.2%, ETH 11.5%
• 24-hour liquidation data: A total of 50,981 people were liquidated globally, with a total amount of $135 million.

ETF Fund Flow

• Bitcoin ETF: Net outflow of $812 million, the second highest in history.
• Ethereum ETF: Net outflow of $152 million, ending the previous 20-day streak of net inflows.

Hot News

• Multiple tokens are about to face large unlocks, with ENA unlocking a value of approximately 95.8 million USD.
• Trump's equal tariff effective date is postponed to August 7.
• Michael Saylor: In the short term, Bitcoin is a trading asset, while in the long term, it is a treasury asset.
• Arthur Hayes sold approximately $13.35 million worth of ETH, ENA, and PEPE
• Nasdaq-listed company DevvStream Corp. purchased 10 million dollars worth of Bitcoin and Solana.

The crypto market is currently at a critical moment, with macroeconomic changes and regulatory trends continuing to affect market fluctuations. Investors should closely monitor various data and policy changes to reasonably assess risks.