Crypto Assets Market Overview This Week

This week, the Crypto Assets market as a whole has shown a volatile upward trend. Both Bitcoin and Ethereum have experienced a certain degree of increase, but the intensity varies.

Bitcoin Performance

Bitcoin has shown an overall upward trend this week. Although there was a movement of 13264.69 BTC from a certain exchange address, it did not trigger panic in the market. A phase of price increase occurred on Wednesday, mainly influenced by the minutes from the Federal Reserve's FOMC meeting, which strengthened market expectations for a possible interest rate cut in September. However, due to a lack of confidence in the future, the price subsequently fell back, ultimately presenting a fluctuating upward trend.

Ethereum Performance

Ethereum also followed Bitcoin this week with a trend of fluctuating upward movement, but the increase was weaker than that of Bitcoin. From the trading volume of the Ethereum spot ETF in the US stock market, there was a capital outflow this week. The Ethereum ecosystem lacks new hotspots, while other public chain ecosystems like Tron have seen the rise of Meme coins, which has diverted market funds. External investors' confidence and interest in Ethereum are insufficient, leading to a relatively weak performance this week.

Important Events

1. The Federal Reserve released the minutes of the July FOMC meeting, indicating that most participants believe September may be suitable for a rate cut. The market's expectation for a 25 basis point rate cut in September has become more certain.

2. The U.S. Bureau of Labor Statistics revised the employment figures for the past year ending in March down to 818,000, marking the largest revision in 15 years. This indicates that the job market is not as strong as previously expected, but the market believes this will prompt the Federal Reserve to cut interest rates in September.

3. A certain exchange address has again moved 13264.69 BTC, believed to be a compensation to the victim, but it did not trigger market panic. It is expected that as the remaining amount of BTC decreases, its impact will gradually weaken.

Performance of Altcoins

This week, altcoins continued the rebound momentum from last week, performing overall better than Bitcoin and Ethereum. Most sectors saw an increase, but the trading volume was generally low, indicating limited capital inflow. The market sentiment index rose to the extreme greed range of 90%, and investors should be cautious of risks.

The top five tokens in terms of price increase are scattered across different sectors such as DEX, POW, cross-chain, and stablecoins, without a significant concentration effect in any particular sector. Funding mainly focuses on projects with short-term benefits or unique features.

The Meme coin sector's rebound this week is weaker than last week, and its popularity has decreased. With the exception of a few projects in the Tron ecosystem, the price increases of other on-chain Meme coins are generally lower than those of tokens in other sectors. The overall risk in the Meme sector is rising.

Social Media Hotspots

This week, the most关注度 on social media is the Layer 1 public chain track, with most related tokens showing an upward trend. This may be a continuation of last week's补涨行情 or the beginning of internal sector rotation in the market.

Sector Performance

According to the weekly return rate statistics, the AI sector performed the best, while the SocialFi sector performed the worst.

The AI sector has started to rebound this week after experiencing a downturn, but trading volume remains low, and investors still need to be cautious.

The SocialFi track is mainly influenced by TON, accounting for over 95% of the total market value of the track. TON surged last week due to the launch of a mining project on a certain trading platform, and this week it has slightly corrected, causing the overall track to lag behind.

Outlook for Next Week

1. Bitcoin is expected to continue to maintain a wide range of fluctuations. Market traders are in a wait-and-see state, and there is insufficient buying strength in the short term.

2. Ethereum lacks ecological highlights and is expected to remain linked with Bitcoin, presenting a wide fluctuation trend.

3. Shitcoins may end this round of rebound and fluctuate in sync with the overall market. Although there has been a general rise this week, the trading volume of top tokens is relatively low, and risks should be monitored.