Crypto Market Weekly Report: Review of BTC and ETH Performance

This week, the crypto market experienced significant volatility. BTC was heavily impacted by the global market decline at the beginning of the week, but as macro data was released, market sentiment improved, and the price rebounded accordingly. ETH also suffered from the market crash, and a series of liquidation events further exacerbated the decline. Although there was a subsequent rebound, the extent was relatively small.

Key Market Events

1. Global market fluctuations

At the beginning of this week, the global financial markets experienced significant fluctuations. The Japanese stock market triggered a circuit breaker, and all three major U.S. stock indices fell. This was mainly due to U.S. employment data falling short of expectations, raising concerns about an economic recession, leading investors to seek safe-haven strategies and engage in panic selling. However, as other macro data was released, market sentiment gradually stabilized and began to rebound.

2. The U.S. economic data improves

In July, the ISM Non-Manufacturing PMI reached 51.4, exceeding expectations. The number of initial unemployment claims fell to 233,000 at the beginning of August. These data have alleviated market concerns about an economic recession to some extent, driving the market to gradually warm up.

3. Geopolitical risks increase

Recent developments in the Middle East have introduced new uncertainties, increasing market concerns and exerting certain pressure on the global financial markets.

4. U.S. Political Trends

The Democratic Party nominates the current Vice President as the presidential candidate. Although there has not been a clear stance on encryption currency policy, the market has generated new expectations for future policy directions.

Altcoin Market Analysis

Overall Performance

This week's market fear index has dropped to 9.2%, entering the extreme fear zone. This is mainly due to U.S. employment data being below expectations, triggering concerns about an economic recession, which led to a significant decline in global markets, with Altcoins generally falling over 20%. Subsequently, the release of other economic data eased recession fears, and the market began to rebound. However, most tokens' rebound was not as strong as the overall market, reflecting that investors remain cautious.

Analysis of the Rise Ranking

This week's top-performing tokens are distributed across multiple tracks including DEX, Depin, L1s, wallets, and privacy, without showing significant sector concentration characteristics, indicating that the market is still in a general rebound stage.

Performance of Meme Tokens

The Meme sector was severely hit in the market crash earlier this week, with project declines generally exceeding 30%. Although it rebounded significantly following the market trend, the overall increase was not particularly remarkable. It is worth noting that the pace of updates in Meme themes has accelerated; while this shows vitality, it also exposes instability, which may affect the confidence of long-term investors.

Social Media Hot Topics

According to social media data, the L1s track has the highest level of attention. However, the related tokens have fluctuated inconsistently, with some projects rebounding less strongly than the overall market, which may reflect limited financial support.

Theme Performance

According to the weekly return rate statistics, the Payment sector performed the best, while the RWA sector performed the worst.

• Payment track: XRP achieved favorable results in its lawsuit with regulators, driving overall strong performance in this track.
• RWA track: Affected by expectations of an economic recession in the United States, the RWA track connecting real assets has the least rebound strength.

Next Week Outlook

1. Bitcoin is expected to continue to fluctuate widely, and investors should remain cautious, but they can pay attention to rebound opportunities.

2. Ethereum spot ETF funds continue to flow in, and there may be short-term bottom-fishing opportunities, but long-term risks still exist. It is expected to fluctuate in sync with BTC.

3. Altcoins are expected to rebound after a sharp decline, but the increase may be limited. Investors should closely monitor market changes and maintain a cautious attitude.