The total capitalization of the cryptocurrency market is currently at about 3,660 billion USD, up slightly compared to yesterday, but most of it comes from the price-playing effect of large currencies such as BTC and ETH. The Fear & Greed index reached 68/100, reflecting a moderate optimism, but not strong enough to create a new breakthrough.
Bitcoin (BTC) is trading around $117,400, with a 24-hour range of $117,041 - $118,171. Compared to the historical peak just set on July 11 (~118,839 USD), prices have adjusted slightly. The trading volume of the day reached nearly 46.4 billion USD, accounting for about 37% of total market liquidity.
This stagnation comes as US Bitcoin ETFs continue to maintain stable capital flows, but there has been no sudden money pumping. Analysts say investors are taking a break to watch the next move of the US administration in the context of a new and fragile trade war.
Ethereum (ETH) is currently trading around $2,946. Despite no clear breakthrough, ETH still maintains a stable momentum thanks to a slight recovery of the DeFi ecosystem and positive signals from reducing network gas fees.
Solana (SOL) increased to $160.4, with the number of transactions in the week increasing by more than 30%, largely due to the return of interest in decentralized applications and memecoin. XRP and BNB also recorded a 2 - 3% increase in the past 24 hours, showing that small cash flow is looking towards large altcoin coins.
At the same time, the financial world entered another volatile week when US President Donald Trump announced the imposition of a 30% tax on goods from the European Union (EU) and Mexico, starting from August 1. European and American stock markets have reacted in opposite directions, while experts warn that the risk of global supply chain disruption could once again push up raw material prices.
In addition, the International Monetary Fund (IMF) forecasts that global inflation will decrease to 4.5% this year, but public debt and unstable interest rate policies in many countries are still a major barrier to sustainable economic recovery.
The Financial Stabilization Committee (FSB) has just issued the latest warning about risks in the non-bank financial system (NBFI), emphasizing the danger of investment products using excessive leverage - a noteworthy information for crypto investors who are used to "heavy waves".
The overall market situation shows a sideways trend, keeping prices high but lacking upward momentum. If ETF flows continue to maintain, Bitcoin could stabilize around $115,000 - $120,000 in the medium term. However, the increasingly thin trading volume may make prices vulnerable to unexpected shocks from global financial policy.
Investors are advised to continue holding well-backed coin such as BTC, ETH and some leading altcoin, while limiting the use of high leverage during low market volatility and weak liquidity.
In Vietnam, Bitcoin and other cryptocurrencies are not recognized as legal payment methods and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
