Bitcoin and Ethereum Prices Decline Amid Market Volatility
Bitcoin's price pressure continues as it trades at $115,300, while Ethereum is below $4,300. Key developments include:
- Bitcoin reached an all-time high of $124,457 on Aug. 14, with a market cap of $4.2 trillion.
- Ethereum was close to its ATH, just $104 short on the same date.
- US spot BTC ETFs saw a weekly inflow of $547 million, while spot ETH ETFs attracted a record $2.85 billion.
- The US Consumer Price Index indicated monthly inflation dropped from 0.3% to 0.2%, stabilizing year-over-year inflation at 2.7% for two months.
- The global crypto market cap declined by 3% to $3.88 trillion following increased volatility and fear of missing out (FOMO).
- Liquidations exceeded $530 million in the past 24 hours, mainly led by ETH at $210 million, indicating an overbought market.
- The total value locked in decentralized finance surged from $129 billion to nearly $160 billion in the same period.
This week features significant macroeconomic events affecting both crypto and the wider financial sector:
- Meeting between US President Trump and Ukrainian President Zelenskyy on Aug. 18.
- Federal Open Market Committee Minutes on Aug. 20.
- Speech by Fed Chair Jerome Powell on Aug. 22.
- Release of the US Initial Jobless Claims report on Aug. 21.