August 4th Bitfinex Alpha | While the market is waiting for the catalyst, BTC is integrated and leverage falls.
Bitfinex alpha
Bitcoin has been decisively broken by $ 115,800 after several re -testing over the last three weeks, with a lowest level of $ 112,210. This failure is consistent with a wider risk in Altcoins, which is actively built by encryption complexes, especially leverage. The larger the ALTCOIN market, but the market cap, except for the top 10 coins, has experienced 18.7 %in the last 10 days, and its market cap is nearly $ 5.9 billion before rebounding on Sunday.
The surrender stage peaked on August 2, and every day liquidation exceeded $ 1 billion. Of these, $ 990 million came from a long position. BTC and ETH led the liquidation volume, but Altcoins experienced a deeper flaw in the liquidation of total encryption, which is the most aggressive tension in 2025. Despite the high beta characteristics of Altcoins, even major assets such as ETH fell 9.7 %, while other wider indexes fell 11.4 %. Only a few names, such as ENA and Pengu, managed the proper interests, and emphasized the limited capital rotation as the macro pressure increased and the dangerous appetite was retracted.
Structurally, the BTC still maintains its relative intensity with a market cap of more than $ 2.2 trillion. The 2021 cycle peak is a 2021 cycle peak, and ETH and Altcoins are lower than before. This difference emphasizes the growth role of BTC as an institutionally -led asset of macro standards, unlike the speculative vulnerability of BTC’s extensive market. ETF flow cooling and Fed policy are more attractive and more appetite, and we expect to integrate or larger disadvantages unless you purchase aggressive points. Technology bounce in the $ 112,000 area is plausible, but there is a high possibility that there is a wider recovery of new demand through the trend or clear macro catalyst.
The latest economic data in the United States emphasizes the increase in vulnerability under the seemingly flexible headline level. According to the June inflation report, the continuous price pressure led by a new tariff that increases the cost of products such as furniture, clothing and recreation items.
PCE (personal consumption expenditure) has risen moderately, but actual consumer expenditure is hardly moving, indicating that inflation is eroding its purchase power. Wage growth has been eased, and GDP has increased by 3 % in the second quarter, but many of them have declined rapidly and weakened domestic demand.
Except for trading and inventory, Real GDP has grown 1.2 %, pointing out the stagnation of business investment and slowing consumer activities. Meanwhile, the July job seeking report was added to the depression. Employment slowed down with 73,000 new jobs, and unemployment rate was up to 4.2 %and labor participation continued to fall. Despite the seasonal tail group, sectors such as architecture and hospitality reflect the dragging of the enhanced immigration policy. This trend complicates the federal reserve’s policy outlook as a whole. As inflation sticky and labor momentum disappears, the Fed can delay speed cuts and wait for a clearer signal before adjusting its position. The crypto industry is experiencing strong resurrections in the institutional participation indicated by bold financial allocation and more regulatory measures. Sharplink Gaming purchased an ETH of $ 295 million, creating a headline, raising its total shares to more than 438,000, and becoming the second largest company holder in the world. The aggressive capital deployment and steaking strategy of the company, supported by Joseph Lubin and former Blackrock Executor, Ether Leeum’s co -founder of Ether Leeum, are the core financial assets of ETH as a core financial asset. It reflects. On the other hand, regulatory exercise is also being built. Paul Atkins, chairman of the SEC chairman, started the “Project Crypto”, an initiative to modernize the US digital asset framework. This initiative promises to clarify token classifications from the past, where the execution of the agency is severe, enables the encryption “Super Apple” with a licensed traditional finance to apply the US leadership in the field of digital innovation. Finally, Devvstream, a carbon credit company listed in NASDAQ, has announced $ 10 million allocation to Bitcoin and Solana as part of a sustainable password financial program. This move, which raised funds with a $ 300 million convertible increase, emphasizes how encryption is being integrated into a diversified corporate finance model by combining financial strategy with environmental impact. This development suggests a mature digital asset space and is increasingly consistent with institutional capital and future -oriented regulatory framework.