Crypto Assets Market Weekly Report

This week, the Crypto Assets market overall showed a volatile upward trend. Bitcoin and Ethereum both experienced slight increases, but Ethereum performed relatively weakly.

Market Performance

Bitcoin has shown an overall upward trend this week. Although over 13,000 coins were transferred from a certain address, it did not trigger panic in the market. The Federal Reserve's July meeting minutes released a dovish signal, which enhanced the market's expectations for a rate cut in September, leading to a temporary rise in Bitcoin on Wednesday. However, due to the market's continued lack of confidence in the future, the price subsequently fell back, ultimately presenting a fluctuating upward trend.

Ethereum followed the trend of Bitcoin this week, but its gains were weaker than Bitcoin's. From the trading situation in the US stock market, Ethereum spot ETFs saw outflows this week. Due to the lack of attractiveness in the Ethereum ecosystem, combined with the rise of other public chain Meme coins, funds have flowed to other ecosystems, resulting in relatively weak performance for Ethereum.

Important Events

1. The Federal Reserve released the minutes of the July meeting, clearly stating that if the data meets expectations, a rate cut in September may be appropriate. The market generally expects a 25 basis point rate cut in September.

2. The U.S. Bureau of Labor Statistics revised the previous year's employment figure for March down to 818,000, marking the largest adjustment in 15 years. Although the data is poor, the market believes this will prompt the Federal Reserve to cut interest rates in September.

3. A transfer of 13264.69 coins of Bitcoin occurred at a certain address, which is considered compensation for previous victims. However, this transfer did not cause market panic.

Altcoin Overview

This week's market sentiment index rose to 90%, moving from extreme fear into the extreme greed zone. Altcoins continued last week's rebound trend, performing significantly better than Bitcoin and Ethereum. All sectors generally rose, but trading volume was low, indicating limited capital entry and uncertainty about the sustainability of the upward trend.

The top five tokens on the gainers list belong to different sectors, showing no concentration effect. The reasons for the price increases of each token vary, reflecting the market's interest in projects with highlights or short-term benefits.

The overall rebound strength of Meme coin is weaker than last week. The founder of a certain public chain publicly supports the entry of Meme coin onto that chain, promoting a general rise of Meme coin on that chain. However, the popularity of Meme coin on other chains has clearly decreased, and risks have increased.

Social Media Hotspots

This week, the most关注 on social media is the L1 public chain track, with related tokens generally rising and showing significant increases. It may be a continuation of last week's补涨 trend or the beginning of sector rotation, but the latter is less likely.

Track Performance

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

The AI sector has started to rebound after a period of sluggishness, but trading volume remains low, and investors should exercise caution.

The SocialFi track is mainly influenced by a certain token. After the positive news regarding this token peaked last week, it experienced a slight correction this week, resulting in a low increase across the entire track.

Outlook for Next Week

1. Bitcoin is expected to maintain a wide range of fluctuations. Although there are positive news, the market sentiment is cautious, and buying power is insufficient.

2. Ethereum spot ETF funds continue to flow out, and the ecosystem lacks highlights. It is expected to remain correlated with Bitcoin, continuing to experience wide fluctuations.

3. Altcoins may end the rebound trend and fluctuate in sync with the overall market. Although there was a general increase this week, the trading volume is insufficient, raising doubts about sustainability.