Crypto Market Trends: Ethereum Pullback May Present Good Opportunity, Analysts Optimistic About Bitcoin's Future

Market Observation

Recently, there has been a new trend in international trade dynamics. The U.S. and Japan have reached an important trade agreement, with Japan investing $550 billion in the United States, while the U.S. imposes a 15% tariff on Japanese imports. This move affects multiple industries and boosts the Japanese stock market. U.S.-China trade negotiations are scheduled to take place next week in Sweden, potentially involving topics such as China purchasing oil from sanctioned countries. The upcoming "AI Action Plan" from the U.S. government aims to promote American leadership in artificial intelligence through process simplification and other means.

In terms of domestic policy in the United States, government officials are calling for lower interest rates to stimulate the economy. In response, well-known investors analyze that this reflects a game regarding currency value, predicting that the dollar will continue to weaken.

In terms of cryptocurrency applications, industry analysts point out that stablecoins are revolutionizing the cross-border payment sector primarily because they effectively address the pain points of the traditional financial system. Stablecoins do not rely on local banking systems and can be completed through peer-to-peer transactions, making them particularly suitable for emerging markets with weak financial services.

After Bitcoin reached a historical high, it entered a consolidation phase, with data showing the market is in a "healthy but fragile balance". Several analysts are optimistic about the future market, but warn that a pullback may occur in the short term. Some analysts predict that Bitcoin could reach $130,000 to $140,000.

Ethereum has experienced a pullback after continuous increases, with the current price around $3750. Analysts believe that if the pullback reaches the range of $3200-$3400, it will be an ideal opportunity to go long. Some analysts predict that Ethereum may pull back to the range of $3000 to $3200 in August, and after that, it is expected to challenge $4000 again, and even reach $8000.

In the altcoin market, the price of Zora tokens has surged significantly, the market share of LetsBonk has increased notably, and several emerging popular Meme coins have appeared.

Key Data

• Bitcoin: $118,684 (Year-to-date +26.9%), Daily Trading Volume $51.971 billion
• Ethereum: $3,732.23 (Year-to-date +11.69%), Daily Trading Volume $48.862 billion
• Fear and Greed Index: 75 (Greed)
• Market share: BTC 60%, ETH 11.5%
• Total liquidation amount in 24 hours: $376 million

ETF Flow

• Bitcoin ETF: -67.9322 million USD
• Ethereum ETF: +$534 million, the third highest in history.

Today's Outlook

• Block will be included in the S&P 500 index.
• OneFootball will launch token sales
• OKX will launch ASP spot trading
• The government plans to promote the development of artificial intelligence.
• Avail and SOON will unlock a portion of the tokens

Hot News

• Arthur Hayes expects Bitcoin to reach $250,000 and Ethereum to reach $10,000 by the end of the year.
• ARK Invest's large acquisition of BMNR common stock
• Multiple crypto projects are conducting token transfers and strategy adjustments.
• A Mexican real estate company plans to build a large-scale Bitcoin vault.
• Multiple listed companies increase their holdings in encryption or reach related agreements