Recap
- US Federal Reserve Chair Jerome Powell's comments at the annual symposium signaled more positively towards a potential rate reduction in September. Immediately following Powell's comments, Bitcoin climbed, however experienced a drop-off again on Sunday evening.
- Ethereum on-chain metrics hit record monthly active addresses, underscoring continued network usage growth even as price action consolidates.
- Ether (ETH) advanced to a new all-time-high near the end of the week, surpassing $4,955 on Sunday.
- M&A stimulus – High-profile deals are boosting sentiment as institutional investors find new entry points to the crypto market. Coinbase completing its purchase of Deribit cements its derivatives push, while Kraken’s Capitalise.ai acquisition highlights rising exchange competition.
Top Gainers
- OKB (OKB) 71%
- MORPHO (Morpho) 23%
- AAVE (Aave) 15%
Top Losers
- PUMP (Pump.fun) -20%
- SKY (SKY) -17%
- SPX (SPX6900) -13%
Market Metrics
- Total Market Cap: $3.89 Trillion (-2.51%)
- BTC Dominance: 57.4% (vs 58.6% last week)
- Fear & Greed Index: 50 (Neutral) (vs 57 last week)
- Alt Season Index: 45 (Neutral) (vs 43 last week)
This week, we’ll be monitoring (all times UTC):
Tuesday 26 August
Economic data
- 12:30 – US Durable Goods Orders MoM (July): A stronger-than-expected print would signal healthier manufacturing demand, supporting risk sentiment and crypto; a weaker-than-forecast outcome could raise slowdown fears and weigh on crypto.
Thursday 28 August
Economic data
- 12:30 – US GDP Growth Rate QoQ (Q2, 2nd Estimate): An upward revision above the 3.0% advance estimate would reinforce growth resilience and bolster crypto alongside equities; a downward revision would stoke growth concerns and pressure crypto.
Crypto event (conference)
- Bitcoin Asia 2025 takes place in Hong Kong, uniting policymakers, investors, and innovators to debate adoption, regulation, and infrastructure. Metaplanet, a sponsor, is taking centre stage, though a closing panel on Friday may also dominate the headlines.
Friday 29 August
Economic data
- 12:30 – US Core PCE Price Index MoM (July): A softer-than-expected reading would ease inflation fears and support crypto, while a hotter print risks delaying Fed cuts and weighing on risk assets.
