Crypto Market Weekly Review: Bitcoin Hits $110,000, Ethereum Tests Key Resistance Level

Market Overview

This week, the crypto market continued to rise, with Bitcoin's price briefly surpassing $110,000, and Ethereum also approaching the important resistance level of $2,630. However, the uncertainty surrounding U.S. trade policies has put some pressure on the market.

Although the United States has extended the tariff suspension period to August 1, it still threatens to increase taxes on imported goods from major trading partners. The tariffs currently in place amount to a tax equivalent to 1.5% of GDP on U.S. importers, with annual tariff revenue exceeding $300 billion. The impact of these tariffs on inflation is expected to be reflected in the July CPI data to be released in August.

The Federal Reserve faces a policy dilemma: on one hand, one-year inflation expectations have fallen to 3%; on the other hand, there remains significant pressure in components such as medical costs and college tuition. The labor market also shows contradictory signals, with fears of unemployment easing, but the difficulty of re-employment increasing.

The Hong Kong "Stablecoin Regulation" is set to take effect in August, and the market is full of expectations. Related concept stocks have surged recently, reflecting investors' anticipation of compliance dividends. The regulatory framework will cover core requirements such as anti-money laundering and reserve audits, with the first batch of licenses expected to be issued within the year. However, stablecoins still face many challenges to truly disrupt the traditional payment system.

Crypto Market Analysis

Bitcoin is experiencing a key technical breakthrough and cycle validation near $110,000. If it fails to break through this resistance level, it may fall back to $100,000; if it successfully breaks through, it is expected to hit $120,000. Some analysts believe that, combined with the trend of M2 money supply, Bitcoin may rise to the range of $120,000 to $125,000 in the next phase. From a longer time horizon, the peak of this bull market may occur between mid-September and mid-October 2025.

After Ethereum stands above $2600, it is approaching the triangle resistance level at $2630. It is recommended to pay attention to changes in trading volume to confirm the trend. The market's optimistic sentiment towards Ethereum is also transmitted to related stocks, such as GameSquare, Sharplink, and Bit Digital, all of which have seen varying degrees of increase in their stock prices.

In the altcoin market, Vertex announced the migration of its DEX to the Ink network and the elimination of its native token VRTX, resulting in a 60% crash of VRTX. Although the competition for MEME tokens in the Solana ecosystem remains intense, the related tokens have experienced significant pullbacks.

Key Data

• Bitcoin: $108,513 (Year-to-date +15.99%)
• Ethereum: $2,600.10 (Year-to-date -22.06%)
• Fear and Greed Index: 67 (Greed)
• Market Share: BTC 64.2%, ETH 9.3%
• 24-hour BTC long-short ratio: 0.9728
• Sector performance: DeFi sector rose by 2.89%; L2 sector rose by 2.78%
• 24-hour liquidation data: A total of 59,563 people were liquidated globally, with a total liquidation amount of 121 million USD.

ETF Fund Flow

• Bitcoin ETF: +80.08 million USD, continued net inflow for 4 days
• Ethereum ETF: +46.6308 million USD, a net inflow for 3 consecutive days

Hot News

• a16z Crypto has liquidated their COMP holdings and today transferred 400,000 COMP to a certain exchange.
• Tether holds $8 billion worth of gold in a secret vault in Switzerland.
• Vertex will close its original DEX and migrate to a certain Layer 2 network.
• World Gold Council: Global gold ETFs increased by $38 billion in the first half of the year, with daily trading volume hitting a half-year record.
• SharpLink purchased 7,689 ETH last week, bringing its total holdings to over 200,000 coins and earning 322 Ethereum staking rewards.
• Hong Kong listed company Golden Flow Investment surged over 600%, having announced a stablecoin collaboration with AnchorX.
• "Yiwu merchants start accepting stablecoins" ranked 4th on a certain search engine hot search list.
• The publicly listed real estate company Murano plans to establish a Bitcoin reserve through a $500 million equity transaction.
• Bit Digital sold 280 Bitcoins and used the proceeds to purchase Ethereum.
• Public company GameSquare raised $8 million to launch its Ethereum fund management strategy.