The market welcomes the critical "Super 72 hours", with the Ethereum 4000-4100 USD range becoming the breakthrough focus.

Market Observation

Recently, trade representatives from China and the United States held productive talks in Stockholm, Sweden, agreeing to extend the suspension of certain tariffs for 90 days, bringing some relief to the market. However, the global market still faces challenges, with all parties closely watching the upcoming interest rate decision from the Federal Reserve. Although the meeting this week is expected to keep interest rates unchanged, the timing of the first rate cut has become the focus, leading to divergence on Wall Street. Some institutions predict a rate cut starting in September, while others believe it may be delayed until December or later.

In this context, strategists warn that global central bank easing policies, relaxed financial regulations, and shifts in government policy could trigger a larger-scale market bubble. With important events such as the U.S. second-quarter GDP data, the Federal Reserve's decision, earnings reports from tech giants, and the July non-farm payroll report set to be announced, the market is entering a decisive "super 72 hours," the outcomes of which will influence the market direction for the remainder of the year.

The Ethereum market is undergoing a structural transformation, primarily driven by favorable macro policies, capital inflows, and improved investor sentiment. The proactive advancement of cryptocurrency legislation by the U.S. Congress has boosted market confidence, while significant capital inflows into Ethereum spot ETFs serve as a direct catalyst. Ethereum is transitioning from "the fuel of the world computer" to "a yield-bearing reserve asset," with its staking yield characteristics attracting institutional funds seeking real returns. The relative decline of Bitcoin's market dominance may also drive capital to mainstream cryptocurrencies like Ethereum.

Bitcoin prices have recently consolidated in the range of $117,000 to $120,000, with analysts divided in their opinions. Some traders expect a potential dip to the $108,000-$110,000 area before a rebound. Other analysts believe that if the price breaks above $120,000, the market could directly surge towards $125,000. It is recommended that investors continue to hold bullish targets above $123,000 or wait for clearer entry opportunities.

Regarding Ethereum, as the price returns to $3,800, analysts are generally bullish. Its futures open interest has reached a historic high of $5.8 billion, indicating a continuous inflow of leveraged funds. On-chain activity data also shows a significant increase in network activity. Analysts emphasize that the $4,000 to $4,100 range is a key point for further upward movement, and breaking through this range will initiate a new round of price increases.

It is worth noting that today marks the tenth anniversary of Ethereum, with its price rising from $0.3 to $3800, soaring to become the 28th global asset. The Layer 2 network Linea has also announced its token economics, planning to airdrop 10% of the tokens to early users. In Asia, the Hong Kong Monetary Authority has announced that it will open the first batch of stablecoin issuer license applications on August 1st and requires KYC to be implemented for all compliant stablecoin holders.

Key Data (As of July 30, 12:00 HKT)

• Bitcoin: $117,951 (Year-to-date +26.06%), Daily Trading Volume $40.132 billion
• Ethereum: $3,803.76 (Year-to-date +14.12%), daily trading volume $33.228 billion
• Fear and Greed Index: 74 (Greed)
• Average GAS: BTC: 1 sat/vB, ETH: 1.38 Gwei
• Market share: BTC 60.7%, Ether 11.9%
• 24-hour BTC long/short ratio: 48.65%/51.35%
• Sector Rise and Fall: AI down 3.89%; RWA down 3.67%
• 24-hour liquidation data: 128,069 people globally were liquidated, totaling $301 million.
• BTC medium to long-term trend channel: upper bound 118878.55 USD, lower bound 116524.52 USD
• ETH mid to long-term trend channel: upper limit $3645.91, lower limit $3573.71

ETF Flows (as of July 29)

• Bitcoin ETF: +$7,997.81 million, net inflow for 4 consecutive days
• Ethereum ETF: +$219 million, continuous net inflow for 18 days

Today's Outlook

• A trading platform will launch the A2Z/USDT trading pair.
• The Ethereum 10th Anniversary Celebration Live Stream will be held, featuring a limited-time free NFT.
• Strategy plans to announce the second quarter financial report
• Multiple projects will have token unlocks.
• Federal Reserve interest rate decision and press conference
• U.S. Initial Jobless Claims and Core PCE Price Index Year-on-Year Released

Hot News

• Anchorage Digital bought over $1.19 billion in Bitcoin within 9 hours.
• Ark Invest has once again purchased $15.3 million worth of BitMine shares
• BTCS plans to raise $2 billion to increase its cryptocurrency investments.
• Linea announced the token distribution details, with 9% being distributed to users through airdrops.
• Multiple addresses accumulated a total of 648,000 ETH within half a month, worth 2.44 billion USD.
• pump.fun promises to use 100% of daily income for buybacks
• Public company 180 Life plans to raise approximately $425 million through a private placement, transforming into an Ethereum treasury reserve company.
• The DEGEN Foundation discusses the phased destruction of 32.5% of its total supply of DEGEN tokens.