The crypto market is showing mixed signals. The total market capitalization is around $3.83 trillion, with Bitcoin dominance at 61.36% and Ethereum at 12.04%. The market saw a 17.72% increase in July but faced a correction last week, with profit-taking and macroeconomic uncertainty impacting prices.
Bitcoin (BTC): Bitcoin is trading around $118,000–$118,476, down approximately 2% after briefly hitting $122,000. Analysts warn of potential volatility in August due to seasonal patterns and macroeconomic factors, with a historical average return of 1.75% for the month. Institutional demand remains strong, with BlackRock’s IBIT ETF holding over 200,000 $BTC BTC, valued at $13 billion, reinforcing a price floor around $118,000–$120,000.
Ethereum (ETH): Ethereum is priced at approximately $3,777–$3,825, down 3.16% recently but up 56.93% over the past 30 days. Spot Ethereum ETFs saw record infl#ETH5kNext? #BTCOvertakesAmazon #ETHTreasuryStrategy #BinanceAlphaAlert ows of $1 billion on August 12, with BlackRock leading the charge. Ethereum’s market cap hit an all-time high of $578 billion, surpassing its 2021 peak of $552 billion. Institutional interest and ETH treasury demand are driving momentum.