3 U.S. Crypto Assets stocks to follow in August: GLXY, CIFR, RIOT

As the Crypto Assets market continues to fluctuate, the outlook for August is filled with uncertainty, and the performance of crypto-related stocks has attracted attention. Driven by recent on-chain large transfers, earnings report release windows, and executive trading activities, Galaxy Digital (GLXY), Cipher Mining (CIFR), and Riot Platforms (RIOT) have become the core observation targets this month. This article will delve into their latest dynamics, potential price resistance support levels, and short-term trading strategies.

Galaxy Digital (GLXY): Whale transfers cause market turbulence, stock price seeks stabilization Crypto financial services giant Galaxy Digital (GLXY) has become the focus due to recently leading a historic large-scale on-chain Bitcoin transfer. The company executed a massive sale of 80,000 BTC on behalf of a long-term client, which instantly triggered significant volatility in the crypto market. The large scale of sell orders led to a brief sharp decline in Bitcoin prices, market speculation sentiment intensified, and volatility significantly increased. Affected by this negative sentiment, GLXY's stock price dipped to a low of $30.59 during the trading session on July 25. However, the stock has shown signs of recovery, rising to $31.99 in pre-market trading today. If the buying momentum continues after the market opens, GLXY is expected to test the short-term key resistance level of $33.17. Conversely, if selling pressure intensifies, the stock price may fall below the important psychological support area of $30. In any case, given Galaxy Digital's deep involvement in the high-impact Crypto Assets market dynamics, its stock will remain a popular target closely monitored by crypto investors in the coming weeks.

Cipher Mining (CIFR): Q2 financial report is about to be released, mining company stocks welcome a key catalyst Bitcoin mining company Cipher Mining (CIFR) is a potential stock worth focusing on in August. The company is scheduled to release its financial performance for the second quarter of 2025 before the US stock market opens on August 7, Eastern Time, and will simultaneously update its business progress. The subsequent conference call and live broadcast may become key catalysts driving stock price fluctuations. On the previous trading day, CIFR closed at $6.47, with a daily decline of 2.71%. However, in today's pre-market trading, the stock has shown signs of strength, slightly rising to $6.60. If buying interest continues to increase after the opening, CIFR is expected to challenge the resistance level around $7.10. Conversely, if market sentiment weakens, the stock price may drop below the support level of $6.33, setting the stage for a deeper pullback ahead of the earnings report. Investors in mining stocks need to closely monitor the guidance from this earnings report and the expansion plan for hash power.

Riot Platforms (RIOT): Executive stock sales attract attention, strong growth momentum this year faces a test Bitcoin mining company Riot Platforms (RIOT) may attract investors' attention in August due to its recent executive trading activities and strong performance year-to-date. On July 21, the company's CEO Jason Les sold 100,000 shares of common stock at a price of $15.00 to $15.245 per share, cashing in approximately $1.51 million. The timing of this stock sale is noteworthy, as it occurred when RIOT's stock price was close to its 52-week high of $15.87. Benefiting from the overall optimistic sentiment in the crypto market and the company's ongoing infrastructure expansion plans, RIOT has risen 40% year-to-date. On the previous trading day, RIOT closed at $14.54, a slight decline of 1.16%. In today's pre-market trading, the stock price has slightly rebounded to $14.60. If buying pressure accumulates after the market opens, RIOT is expected to test $14.93. However, if bullish momentum cannot be maintained, the stock price may test the support level at $13.93. The progress of mining machine deployment and changes in Bitcoin holdings will be key to future market trends.

Conclusion: The cryptocurrency market in August is expected to continue to be influenced by multiple factors such as macroeconomic conditions, regulatory dynamics, and institutional activities, with volatility likely remaining high. GLXY, CIFR, and RIOT, three U.S. stocks deeply tied to the Bitcoin ecosystem, will have their short-term price movements closely linked to the overall performance of the cryptocurrency market and the progress of their respective key events. Investors need to pay close attention to the breakthrough situations of relevant resistance and support levels, on-chain data indicators, and updates on corporate fundamentals to seize potential trading opportunities, while also being cautious of market uncertainty risks. Please continue to follow the latest cryptocurrency market analysis and related stock dynamics.