encryption assets panorama
BTC (-0.70% | Current Price 112,909 USDT)
BTC has fluctuated up and down by 0.70% in the past 24 hours. BTC is currently in a sideways consolidation state, with trading indicators such as MACD and RSI being relatively neutral, indicating no recent trend trading opportunities.
In addition, on August 21, BTC ETFs saw an outflow of $194 million, with BlackRock's IBIT experiencing an outflow of $127 million and Ark Invest's ARKB seeing an outflow of $43.3 million.

crypto market panorama
BTC (-0.48% | Current Price 113,078 USDT): After experiencing a decline in the previous days, the BTC price entered a period of consolidation on August 22. With trading volume rapidly decreasing, it may continue to move sideways in the short term. On August 21, BTC ETF saw an outflow of 194 million USD, with BlackRock's IBIT seeing an outflow of 127 million USD and Ark Invest's ARKB seeing an outflow of 43.3 million USD.
ETH (1.02% | Current Price 4,334 USDT): The price of ETH has regained momentum after a brief adjustment, finding strong support in the $4,083-$4,299 range, indicating stable buying power. If it can stabilize above $4,300 in the future, it is expected to further move towards $4,400.

Abstract
ETH outperformed BTC, demonstrating stronger continuity and upside potential under the dual support of price structure and ETF capital inflow.
The long-short ratio is synchronously declining, indicating a decrease in the market's willingness to chase long positions, with sentiment being conservative, and the short-term trend is still mainly oscillatory.
The contract positions and funding rates remain high and stable, and the participation of leveraged funds has not yet overheated, indicating a relatively healthy structure.
The liquidation data has not shown extreme liquidations, and the rotation between long and short positions helps to reshuffle sentiments, providing a foundational momentum for the next step in market development.
In terms of quantitative strategies, the moving average dense breakout strategy has achieved over 285% returns in the SUI cryptocurrency, demonstrating good short-term trading potential.
Market Overview
In order to systematically present the funding behavior and changes in trading structure of the current cryptocurrency market, this report approaches from five key dimensions: the price volatility of Bitcoin and Ethereum, long-short trading ratio (LSR), contract open interest, and funding.

encryption asset panorama
BTC (+0.56% | Current Price 114,130 USDT)
BTC price increased by 0.56% in the past 24 hours. After stabilizing above $112,000, BTC began to rally upwards, with short-term resistance at $115,000. In terms of trading volume, BTC's trading volume has recently decreased. The MACD indicator has not formed a "golden cross" or "dead cross" pattern in the short term, and the market remains cautious.
In addition, on August 20, BTC ETF saw an outflow of $315 million, of which BlackRock's IBIT had an outflow of $220 million, and ARK Invest's ARKB had an outflow of $75.7 million.

Abstract
1. This week, BTC and ETH fell by 7.58% and 9.81% respectively, as cryptocurrencies entered a period of adjustment after a significant rise.
2. U.S. retail sales rose by 0.5% in July, marking a significant increase for the second consecutive month.
3. Wormhole plans to acquire StarGate at a high price and requests to suspend the "LayerZero acquisition of STG" vote.
4. MANTRA proposes to abolish ERC20 OM, intending to adjust the token inflation rate to 8%.
5. The number of active addresses on Bitlayer has increased by 118% in the past 7 days, and its TVL ranking has risen to the top position in the BTC L2 track.
6. The outstanding borrowing scale of CeFi reached 17.78 billion USD, a month-on-month increase of 14.66%.
Market Interpretation
Market Commentary
BTC market

encryption asset panorama
BTC (-2.37% | Current Price 113,003 USDT)
BTC is overall in a volatile downward trend, with moving averages showing a bearish arrangement, indicating a weak short-term trend. In terms of the MACD indicator, the fast and slow lines continue to decline, and the trend remains bearish. There is no significant increase in trading volume, and the rebound momentum is limited. Overall, BTC is still in a weak structure in the short term, and it is important to pay attention to whether it can stabilize above 112,500. If there is a rebound, around 114,000 will be the first resistance level.
ETH (-4.26% | Current Price 4,111 USDT)
ETH also shows weakness, with prices running below the short-term moving averages, indicating that the downward trend has not yet ended. The MACD also shows that bearish momentum is still being released, with the fast and slow lines close together but not crossing. After the red bars turned into green bars, there has not been a significant recovery. In terms of trading volume, the overall preservation has been recent.

crypto market panorama
BTC (-2.37% | Current Price 113,003 USDT): BTC is overall in a downward oscillation trend, with moving averages showing a bearish arrangement, indicating a weak short-term trend. In terms of the MACD indicator, the fast and slow lines continue to decline, and the trend remains bearish. There is no significant increase in trading volume, and rebound momentum is limited. Overall, BTC is still in a weak structure in the short term, and attention should be paid to whether it can stabilize above 112,500. If it rebounds, the area around 114,000 will be the first resistance level.
ETH (-4.26% | Current Price 4,111 USDT): ETH is also showing weakness, with the price operating below the short-term moving averages, indicating that the downward trend has not yet ended. The MACD also shows that bearish momentum is still being released; although the fast and slow lines are close together, they have not formed a crossover. After the red bars turned into green bars, there has not yet been a significant recovery. In terms of trading volume, it has recently remained overall stable.

Last week's market overview highlights
Alpha Mining: BTC quickly fell back to the lower boundary of the channel around the 115,500–115,800 range after reaching a new high; ETH pulled back after hitting a segment high of 4,790 USD. In terms of altcoins, Mantle (MNT) rose by 20.78% over the past 7 days; Chainlink (LINK) increased by 11.37%, continuously strengthening its leading position in the oracle space, driven by its collaboration with ICE, a new high in TVS, and large whale purchases.
On-chain funds: Sei Network maintains strong momentum with rapid growth of stablecoins and institutional layout, consistently ranking first in activity among EVM public chains, gradually establishing its position as a high-performance on-chain financial infrastructure; Aave's lending scale has surpassed $25 billion, with deposits ranking among the top 40 American banks, demonstrating

In July, the total market capitalization of crypto assets showed an accelerated pump, surpassing $4 trillion in late July. A core factor driving the rise in total market capitalization of crypto assets is the gradual realization of the expectation that the Fed will cut interest rates in 2025. In this month, all of the top 8 crypto assets by market capitalization experienced a rise, with ETH becoming the best-performing token in July, achieving a monthly increase of over 50%. Although BTC also gained nearly 10%, it underperformed compared to other mainstream crypto assets.

crypto market panorama
BTC (-0.02% | Current Price 115,900 USDT): Last week, after BTC reached a peak of 124,497 USD, it failed to effectively break through the upward pressure, quickly retreating while accompanied by increased trading volume, indicating a weakening of bullish momentum. From recent performance, BTC has repeatedly found support around 115,800 USD, which has become a key short-term defense line. However, the current price is approaching this range, and if this support is lost, it may further test 114,000 USD, or even challenge the lower support at 113,500 USD. In terms of short-term rebounds, the upper pressure range is between 118,500 – 119,000 USD. If it can reclaim and stabilize above this range, there is a chance to launch another assault towards 121,000 USD. However, if it fails to break through, the market may still maintain a weak oscillating pattern.

encryption asset panorama
BTC (-1.52% | Current Price 115,804 USDT)
Previously, BTC once surged to a stage high of 124,497 dollars but failed to break through effectively, followed by a volume-backed pullback. In terms of the moving average system, the short-term MA5 and MA10 have crossed below MA30, forming a bearish arrangement, indicating a weak short-term trend. Recently, the price has repeatedly found support near 115,800 dollars, but it is currently approaching this critical level. If it breaks below this range, it may further test the support at 114,000 dollars or even lower. Conversely, if it can stabilize and rebound at this level, it will first need to reclaim the short-term moving average resistance near 117,300 dollars to reverse the weak trend.
In terms of trading volume, a significant increase in volume accompanied by a decline indicates strong selling pressure and a bearish market sentiment. Overall, in the short term, attention should be paid to 115.

Gate Research Institute Daily: On August 18, BTC is currently approaching the key position that has previously received support near $115,800; ETH has seen a significant pullback after reaching a high of $4,575 recently. In the past week, the NFT market's activity has risen significantly, with trading volume increasing by 30% month-on-month; Japan is about to approve the first stablecoin denominated in yen, JPYC; Arbitrum DAO's ETH reserves have increased by 36% month-on-month, with holdings exceeding 22,500 coins.

Crypto market panorama
BTC (-4.04% | Current Price 118,692 USDT): The price of BTC has slightly dropped by 4.04% in the past 24 hours. After breaking through a new high of 124,000 USD, BTC quickly fell back to the range of 118,000 USD to 119,000 USD. However, from the 1-hour MACD indicator, the short-term moving average has crossed above the long-term moving average, initially forming a golden cross. From a technical perspective, BTC currently shows a divergence pattern of short-term overbought (RSI1:62.5), medium-term adjustment (RSI2:43.3), and long-term oversold (RSI3:17.3), indicating that the market is at a critical point of transition between bullish and bearish forces. On August 14, BTC ETF saw an outflow of 292 million USD, among which ARKB had an outflow of 149 million.

Encryption Market Overview
According to CoinGecko data, from July 28 to August 11, 2025, the overall cryptocurrency market showed a strong upward trend, with a significant increase in total market capitalization of approximately 4.12 trillion USD, and most mainstream cryptocurrencies recorded double-digit gains. The technical aspect of BTC is approaching a critical resistance level, with momentum for high-level positions slowing down and risks gradually accumulating; meanwhile, ETH has reached a new peak in its wave pattern, breaking through 4,300 USDT, but the speed of capital inflow is still lagging behind BTC.
Recently, the encryption market has been active on multiple fronts, with public chains, DeFi, and policy all releasing positive signals. Among them, the trading volume and the number of transactions on the Ethereum chain have both reached new highs in recent years, indicating a significant rebound in network activity and capital participation. On the macro and regulatory front, the US SEC has clarified that certain liquid staking products do not constitute securities, paving the way for Ethereum spot ETFs.

Abstract
1. This week, BTC broke through $124,000, reaching a new all-time high, ETH rose by 12.02%, and mainstream altcoins saw a strong overall increase.
2. Chainlink has partnered with ICE to integrate high-quality data from the global foreign exchange and precious metals markets into on-chain applications.
3. The BitMine Immersion plan aims to raise 20 billion dollars to increase ETH holdings, as institutional investors are optimistic about ETH in the long term.
4. The total market capitalization of cryptocurrencies reached a historic high of $4.21 trillion, with BTC's market cap surpassing Alphabet to rank 5th globally.
5. Ethereum search popularity reached a new high since 2021, with price rising in resonance with on-chain activities.
6. Base Daily

On August 14, BTC broke through $124,400 and set a new all-time high; ETH held above $4,700; GT consolidated sideways around $17.8, maintaining short-term range fluctuations. The total market capitalization of Crypto Assets rose to $4.21 trillion, setting a new all-time high, with Bitcoin's market cap surpassing Alphabet to rank fifth globally; Ethereum's search interest reached a new high since 2021, with on-chain activity and capital inflow resonating to push prices higher; the daily trading volume of DEX on Base broke through $2 billion for the first time, demonstrating the continued increase in trading activity and capital carrying capacity of the Layer 2 ecosystem.

crypto market panorama
BTC (0.27% | Current Price 119,574 USDT): BTC continues its upward trend today, once approaching the 120,000 US dollar mark during the trading session, indicating that bulls still maintain their offensive. The overall trend remains in a high-level consolidation phase. If it can break through and stabilize above 120,000 US dollars, it will further enhance market bullish sentiment. On August 12, the net inflow of BTC ETF reached 65.9 million US dollars in a single day, with BlackRock's IBIT inflow of 111 million US dollars, Ark's ARKB outflow of 23.9 million US dollars, and Grayscale's GBTC outflow of 21.6 million US dollars. Although some institutions are taking profits and withdrawing, there is still significant buying power in the market.

encryption asset panorama
BTC (+0.22% | Current Price 119,260 USDT)
BTC quickly surged after finding support around $118,000, breaking through $120,000 and reaching a high of $122,200. However, the upward slope of the short-term moving average (MA5) has significantly slowed, and it is approaching MA10, which poses a risk of forming a potential death cross. If the subsequent move does not restart with increased trading volume, the short-term bullish momentum may continue to weaken, and the probability of high-level fluctuations or a technical correction will rise. Currently, it is crucial to focus on the support around $118,000; if it is lost and trading volume shrinks, it could trigger further declines; conversely, if volume stabilizes and increases, it may alleviate the pressure from the moving average death cross and continue the upward trend.
In addition, on August 12, the net inflow of BTC ETF reached 65.9 million USD in a single day, among which BlackRock

Dear Gate VIP user:
We invite you to read this issue of the Gate VIP Weekly Report (August 4, 2025 - August 10, 2025). The cryptocurrency market was active on multiple fronts last week, with positive signals emerging from public chains, DeFi, and policy.
Market Overview Highlights from Last Week:
Alpha Mining: BTC's short-term trend remains strong, but is approaching a significant resistance zone; ETH is still in a mid-term bullish trend, but is nearing the top of its ascending channel. In terms of altcoins, Lido DAO (LDO) benefits from a substantial rise in Ethereum's price and institutional custody support, with a 7-day increase of over 62%; Aerodrome Finance (AERO) leverages