Crypto Assets market overview this week

This week, the Crypto Assets market showed an overall trend of fluctuating upward. Bitcoin and Ethereum both experienced slight increases, but their performances varied.

Bitcoin has shown an overall upward trend this week. Although there was a large movement of BTC from a certain trading platform address, it did not cause panic in the market. The FOMC meeting minutes from the Federal Reserve indicated a dovish stance on potential interest rate cuts in September, boosting market confidence and leading to a temporary increase in Bitcoin on Wednesday. However, the market still lacks confidence in future expectations, resulting in a subsequent price pullback, ultimately showing a fluctuating upward trend.

Ethereum followed Bitcoin's trend this week, but with less strength than Bitcoin. According to the spot ETF trading data, funds continued to flow out this week. Meanwhile, the Ethereum ecosystem lacks attractiveness, while a certain public chain ecosystem's Meme coin has emerged, diverting market attention. Outside funds lack confidence and interest in Ethereum, leading to its relatively weak performance.

Important Event Review

1. The Federal Reserve released the minutes of the July FOMC meeting, showing that most participants believe that if the data meets expectations, a rate cut may be appropriate in September. The market's expectation for a 25 basis point rate cut in September has increased.

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

3. The address of a certain trading platform has again moved 13,264 BTC, which is considered as continued compensation to the victims, but it has not caused market panic. It is expected that as the remaining BTC decreases, its impact will gradually weaken.

Performance of Altcoins

This week, market sentiment has risen to 90%, shifting from extreme fear to extreme greed. Altcoins continue the recovery trend from last week, significantly outperforming Bitcoin and Ethereum. Most sectors are showing an upward trend, but the trading volume is not large, indicating a lack of sustainability. After market sentiment reaches 90%, a correction usually occurs, and investors should be cautious of risk prevention.

The top five tokens on the growth list come from DEX, POW, cross-chain, and stablecoin sectors, without showing a concentrated characteristic in any specific sector. Funds have not concentrated in any particular sector, mainly speculating around 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, driving a surge in Meme coin on that chain. However, the rise of Meme coin on other chains is lower than that of tokens in other sectors, indicating that the enthusiasm for Meme coin is waning, participation of funds is decreasing, and risks are increasing.

Social Media Hot Topics

According to social media data, the most关注度 this week is on the layer one public chain track. Most projects in this track are on an upward trend, with significant gains, performing better than the market. This may be a continuation of last week's补涨 or the beginning of sector rotation, but the latter is less likely.

Sector Performance

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

After a few weeks of sluggishness in the AI sector, most tokens began to rebound this week. However, trading volume remains low, and investors should remain cautious and prioritize observation.

The leading token in the social finance sector accounts for 95.21%, with a slight pullback this week. However, the sector still maintains a positive growth rate, indicating that other projects are performing well. The lower ranking is mainly due to the pullback after the leading project exhausted its favorable news last week.

Next Week Outlook

1. Bitcoin: Although the downward revision of employment data has raised concerns about an economic recession, it has been offset by the Federal Reserve's dovish stance. The market remains cautious, and it is expected to continue to maintain a wide range of fluctuations next week.

2. Ethereum: Spot ETF funds continue to flow out, and there is a lack of innovative hotspots on-chain. It is expected that there will be no independent market trends before the overall market rises or new innovations emerge in the ecosystem, still maintaining a correlated volatility with Bitcoin.

3. Altcoins: Although there was a general increase this week, the trading volume was insufficient. It is expected that the rebound may end next week and will fluctuate in sync with the overall market.