Crypto Market Analysis: Bitcoin Breaks $117,000, Ethereum Returns to $3,000

Market Overview

Recently, the U.S. President announced new tariffs on most trade partners, causing market fluctuations. Despite this, major U.S. stock indices reached new highs, with Nvidia's market value surpassing $4 trillion for the first time. JPMorgan CEO warned that the market is underreacting to the tariff threat and predicts a higher probability of interest rate hikes by the Federal Reserve than the market expects. There are divisions within the Federal Reserve regarding the direction of policy, and the inflation data in the coming months will be crucial. Investors are currently focusing on the second-quarter earnings season.

In Hong Kong, the digital asset policy is continuously advancing. A local financial group is actively participating in related transformations, including collaborating with fund companies to issue tokenized ETFs, supporting the listing and custody of stablecoins, and constructing an open on-chain channel.

Crypto Market Performance

Bitcoin continues to rise strongly, breaking through $117,000. On-chain data shows a significant increase in holdings of "accumulation addresses," and analysts predict that large-scale profit-taking is unlikely before $130,900. The market is generally optimistic about Bitcoin's performance in the next two months, with some forecasts suggesting it could reach $133,000 in September.

Ethereum has broken through the 3000 dollar mark, with large institutional purchases yesterday driving the price up. Historical data shows that after Ethereum breaks through the 2800 dollar mark, it often quickly rises to around 4000 dollars. Analysts believe it has returned to an upward trend.

The altcoin market has generally risen. HYPER has increased by over 455% on a certain trading platform, with trading volume at the top. Other standout performers include AIN, CROSS, and others. The NFT project Pudgy Penguins has also performed well recently, with a rise of 130% in two weeks.

Market Data

• Bitcoin price: $116,539, year-to-date increase of 24.97%
• Ethereum price: $2,968.02, year-to-date decline of 11.02%
• Fear and Greed Index: 72 (Greed)
• Market Share: Bitcoin 63.8%, Ethereum 9.8%
• 24-hour liquidation amount: 1.136 billion USD

Future Outlook

Recently, multiple projects will have token unlocks, including Immutable, io.net, Movement, etc. The market is paying attention to the potential impacts of these unlock events.

ETF capital inflows continue to be strong, with Bitcoin and Ethereum ETFs both recording the second highest daily inflows in history. This indicates that institutional investors' interest in crypto assets is on the rise.

Overall, market sentiment is optimistic, but potential risks should still be monitored. Investors should closely watch factors such as U.S. inflation data, earnings season performance, and regulatory trends.