🐺ETH moves to retest, market waits with baited breath

Crypto Spotlight: Bitcoin & Ethereum Wobble but Hold Strong

• Bitcoin ($BTC) hit a 2025 peak of $124,496 last week before dipping to $115,205 (-2.73% in 24hrs). Despite $500M in liquidations, new demand is flowing in—first-time buyers’ supply is up 1% to 4.93M BTC, and conviction holders grew 10% to 1.03M BTC. Short-term sellers spiked 37.8%, hinting at a potential reset for a rebound if absorbed. Munch Take: BTC’s consolidating near highs; ETF demand and U.S. buying pressure (Coinbase premium positive) keep the bull case alive. Watch $114,600 support.

• Ethereum ($ETH) slid 5.77% to $4,305, testing the $4,100 breakout zone. Open interest in ETH futures rose to 5M, signaling new shorts, but spot ETH ETFs saw $12.49B in cumulative inflows. Munch Take: ETH’s +30% YTD and institutional interest suggest dips are buyable, but $4,100 must hold for bulls to stay in control.

• Altcoins & DeFi: Solana’s DeFi TVL jumped 30.4% to $8.6B, driven by Kamino’s $2B. Liquid staking now covers 12.2% of SOL’s supply, boosting yields. Munch Take: Altcoin strength and DeFi growth signal an “AltSeason” vibe—watch SOL, XRP, and Cardano.

Upcoming Crypto Events:

• Aug 20: Hedera (HBAR) mainnet upgrade to v0.64; Qubic (QUBIC) first halving, burning 28.75T tokens.

• Aug 21: Viction (VIC) Atlas hard fork finalizes.

• Token Unlocks: LayerZero ($57.59M) and Kaito ($27.55M) unlock 8%+ of supply Aug 20.

Geopolitical Boost: Peace Talks Lift Sentiment

Trump’s meeting with Putin and Zelenskyy in D.C. sparked optimism for a Ukraine-Russia ceasefire, lifting risk-on assets like stocks and crypto. A deal could ease supply chain shocks and commodity pressures, but talks may drag. Munch Take: Crypto could rally on peace progress, but hedge for volatility if talks stall.

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Market Snapshot

• S&P 500: 6,449 (-0.29%), +10% YTD. Risk-on mood dominates.

• Dollar Index (DXY): 97.99 (+0.14%), -10% YTD, boosting commodities and crypto.

• Crypto Equities: TeraWulf ($WULF) +4.57% on Google’s $3.2B deal; Coinbase ($COIN) -2.26%.

• ETF Flows: BTC ETFs -$121.7M daily, ETH ETFs -$196.6M, but cumulative inflows stay strong ($54.83B BTC, $12.49B ETH).

$ETH.X ( ▲ 2.74% ) has important territory to reclaim after this bounce! It will be telling of how things are going to go in the near future.

Trader’s Take

Crypto’s in a dip but not a crash—BTC and ETH are backed by ETF inflows and institutional bets. Peace talks could juice risk assets, but macro risks (Fed, tariffs) loom. Stay nimble, manage leverage, and watch institutional accumulation go to work.

Disclaimer: Investing involves risk. Past performance isn’t destiny. Trade smart, or you’ll be eating ramen instead of wagyu.

Goodluck out there, and watch your top knot!

V/r,

Nono

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