Gate Weekly Industry Review: Bitcoin and Ethereum ETF Funds Surge, Altcoins Lag Behind

Last week (from August 11 to August 17), the crypto market continued its high fluctuation trend, with Bitcoin (BTC) and Ethereum (ETH) both reaching new phase highs, and the scale of ETF capital inflow was astonishing. However, the weekend market weakened, and major assets fell back for consolidation. The Gate research team has compiled the core market data from last week and the significant events worth following this week.

Market Review from Last Week

* BTC: ETF net inflow of 547 million USD, reaching a new historical high mid-week

Capital flow: Last week, the net inflow of BTC ETF reached 547 million USD, continuing the trend of capital entering the market.

Price performance: BTC once broke through 124,000 USD in the middle of the week, setting a new historical high; it fell back to the 115,000 USD range over the weekend.

Market share: temporarily reported at 59.1%, indicating that although BTC is leading, some altcoins have already surpassed BTC in terms of growth.

* ETH: ETF has seen a continuous net inflow of funds for 11 weeks, totaling over 11 billion dollars

Capital Flow: Last week, ETH ETF had a net inflow of 2.852 billion USD, setting a record of 11 consecutive weeks of positive inflows, with a total inflow exceeding 11 billion USD.

Price performance: ETH reached $4,790 mid-week, then retraced to around $4,250 for consolidation.

Market Share and Exchange Rate: Market share has risen to 13.2%, and the ETH/BTC exchange rate is currently reported at 0.037, with a relatively strong trend.

* Shanzhai coin: Fluctuation lagging, quick drop

Last week, most altcoins followed the market and rose, but the increase generally lagged behind BTC and ETH.

During the weekend pullback, most altcoins quickly gave back their gains, falling back to their starting points.

Shanzhai Season Index: Currently reported at 43, market sentiment remains neutral.

Key Events Preview for This Week (August 18 - August 24)

* Macroscopic Level

Brazil Bitcoin Strategic Reserve Hearing

Time: August 20

Highlights: Brazil may explore incorporating BTC into its national strategic reserves. If there is positive progress, it could become a new catalyst for the market.

* Federal Reserve Policy Dynamics

August 21 (Beijing time, early morning): The latest monetary policy meeting minutes will be released.

August 22: Powell will give a speech at Jackson Hole, with the market focusing on interest rate cut expectations and successor candidates.

* Project Token Unlock

Fasttoken (FTN)

Time: 8 AM, August 18th (Beijing time)

Unlocking amount: approximately 20 million coins (accounting for 2.08% of the circulation), valued at about 91.4 million USD.

LayerZero (ZRO)

Time: 7 PM on August 20 (Beijing Time)

Unlocking amount: approximately 25.71 million coins (accounting for 8.53% of the circulating supply), valued at about 56.6 million USD.

Gate Views and Strategy Recommendations

Short-term observation of BTC and ETH:

BTC Key Support: $115,000; Resistance: $124,000.

ETH key support: $4,200; resistance: $4,790.

Capital aspect: Continuous inflow into ETFs provides support for a bullish outlook in the medium term, but in the short term, caution is needed for a potential second dip after the weekend pullback.

Altcoin Strategy: When the altcoin season index is below 50, it is advisable to be cautious in chasing highs and to follow the rotation opportunities driven by mainstream coins.

Macroeconomic Risk: This week, the Federal Reserve and Brazil's policy dynamics may trigger market fluctuations, it is recommended to maintain position flexibility.

Conclusion

Last week, the inflow of funds into BTC and ETH ETFs reached a new high, indicating that institutional funds continue to be optimistic about the mid-to-long term prospects of the crypto market. However, the price pullback over the weekend serves as a reminder to investors that short-term fluctuation risks still exist. This week, there will be a series of macro and project events, which may become key catalysts for market direction selection. Gate will continue to track and bring you the latest market dynamics and strategic advice.