Crypto Assets Market Analysis: Bitcoin Breaks Through $110,000 Level, Ethereum Faces Key Resistance

Market Overview

Recently, the uncertainty of U.S. tariff policies continues to affect the market. Although the tariff suspension period has been extended to August 1, the U.S. government has once again threatened to raise taxes on imported goods from major trading partners. The tariffs currently in effect correspond to a tax of 1.5% of GDP on U.S. importers, with annual tariff revenue exceeding $300 billion. The impact of these tariffs on inflation is expected to manifest in the July CPI data.

The Federal Reserve faces a policy dilemma: on one hand, one-year inflation expectations have fallen to 3%; on the other hand, there are still significant pressures in specific areas such as medical costs and university tuition. The labor market also shows conflicting signals, with concerns about unemployment easing but difficulties in re-employment increasing.

The Hong Kong "Stable Coin Regulations" will take effect in August, and the market is full of anticipation. The regulatory framework will cover core requirements such as anti-money laundering and reserve audits, with the first batch of licenses possibly being issued within the year. However, stable coins still need to overcome multiple obstacles to disrupt the traditional payment system.

Crypto Assets Market Analysis

Bitcoin is making a key breakthrough near $110,000. Analysts believe that if it fails to break through this resistance level, the price may retreat to $100,000; conversely, it is expected to surge towards $120,000. In the long run, some analysts predict that the peak of this bull market may occur between September and October 2025.

After Ethereum broke through 2600 USD, it is approaching the triangular resistance level of 2630 USD. The optimistic market sentiment has also spread to related stocks, with companies such as GameSquare, Sharplink, and Bit Digital seeing a significant increase in their stock prices.

In the altcoin market, Vertex announced the migration of its DEX to the Ink network and the elimination of the native token VRTX, resulting in a 60% drop in VRTX. The token competition within the Solana ecosystem continues, but related tokens have experienced a pullback.

Key Data

• Bitcoin: $108,513 (YTD +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 liquidation data: 59,563 people were liquidated, total amount $121 million.

ETF Capital Flow

• Bitcoin ETF: +8.008 million USD, net inflow for 4 consecutive days
• Ethereum ETF: +46.6308 million USD, net inflow for 3 consecutive days

Market Highlights

• a16z Crypto has liquidated its COMP holdings and transferred 400,000 COMP to the trading platform.
• Tether holds $8 billion worth of gold in a secret vault in Switzerland.
• Global gold ETFs increased by $38 billion in the first half of the year.
• SharpLink increased its holdings in Ether, with total holdings exceeding 200,000 coins.
• Hong Kong stock company Jinyong Investment's share price surged, having announced a stablecoin collaboration with AnchorX.
• The number of BONK holding addresses is close to 1 million, with plans to burn 1 trillion tokens.
• Many publicly traded companies are laying out plans for Bitcoin and Ethereum

In the coming week, the market will focus on important economic indicators such as the Federal Reserve's monetary policy meeting minutes and U.S. employment data. Investors need to closely monitor the potential impact of these factors on the Crypto Assets market.