Crypto Market Watch: Bitcoin Breaks Through $110,000 Mark, Ethereum Approaches Key Resistance Level

Market Overview

Recently, the uncertainty of U.S. tariff policies has continued to ferment, and the lagging effect on inflation is expected to manifest in the July CPI data. The Federal Reserve faces a policy dilemma; on one hand, inflation expectations are declining, while on the other hand, some sub-item pressures remain significant. The labor market is also showing contradictory signals.

Hong Kong is set to implement the "Stablecoin Regulation", and the market is filled with anticipation. Analysts point out that related concept stocks have surged recently, reflecting the market's strong expectations for compliance benefits brought by the regulatory framework. However, for stablecoins to truly disrupt the traditional payment system, they still need to overcome multiple obstacles.

The crypto market is undergoing a critical technical breakthrough and cycle validation phase. Bitcoin is facing resistance around $110,000, and analysts believe that breaking this level could aim for $120,000. In the long term, some analysts predict that the peak of this bull market may occur between September and October 2025.

In terms of Ethereum, it is approaching the 2630 USD triangular resistance level, and the market suggests paying attention to changes in trading volume to confirm the trend. The stock prices of related token listing companies have also seen a significant increase.

In the altcoin market, a certain DEX migrated to a new network and phased out its native token, leading to a significant decline in that token's value. The competition among tokens in the Solana ecosystem remains heated, but the related tokens have experienced a pullback. The market currently lacks new sustainable narratives.

Key Data

• Bitcoin: $108,513 (year-to-date +15.99%), daily trading volume $21.324 billion
• Ethereum: $2,600.10 (Year-to-date -22.06%), Daily trading volume $15.521 billion
• Fear and Greed Index: 67 (Greed)
• Market Share: BTC 64.2%, ETH 9.3%
• 24-hour BTC long-short ratio: 0.9728
• 24-hour liquidation data: 59,563 people liquidated globally, with a total amount of 121 million USD.

ETF Capital Flow

• Bitcoin ETF: +$80.08 million, continuous net inflow for 4 days
• Ethereum ETF: +46.6308 million USD, continuous net inflow for 3 days

Market Highlights

1. A well-known investment institution has liquidated its COMP holdings and transferred 400,000 COMP to a trading platform.
2. A stablecoin issuer holds $8 billion worth of gold in a secret vault in Switzerland.
3. Global gold ETFs increased by 38 billion USD in the first half of the year, with an average daily trading volume setting a half-year record.
4. Multiple listed companies increase their holdings in Ethereum or engage in related businesses.
5. A listed company's stock price in Hong Kong surged, related to collaboration with stablecoins.
6. "Yiwu merchants start accepting stablecoins" trends on the hot search list
7. The number of addresses holding a certain token is about to exceed 1 million, at which point a token burn will take place.

The market is showing a positive trend, but investors still need to cautiously pay attention to various risk factors and allocate assets appropriately.