Crypto Market Weekly Report: Ethereum Breaks Resistance Level and Aims for $4000, Bitcoin May Rally Before a Pullback

Market Overview

The global economic situation remains complex. Although the agreement reached by the US and Europe on trade issues has avoided a full-blown trade war, concerns persist due to differences in details and unequal terms. Domestically in the US, the Federal Reserve's policy meeting this week is highly anticipated, with expectations to keep interest rates unchanged, but it may open the door for a rate cut in September. This week will also see the release of important data such as earnings reports from tech giants, GDP, and employment figures, which will test the resilience of the US economy.

Leaders in the crypto industry have a new perspective on market cycles. Some analysts believe that driven by multiple long-term positive factors, the traditional four-year cycle is no longer applicable, and the market is entering a "sustained and stable prosperity" phase. However, polls show that the public's awareness and acceptance of cryptocurrencies still need to be improved.

Performance of Major Crypto Assets

Bitcoin has shown volatile performance recently. Analysis points out that macro uncertainty and changes in capital flow have led to its pullback, and it may continue to face pressure in the short term. Several analysts have provided forecasts for its short-term trend, believing that it needs to break through the resistance level of $119,500 to initiate a new round of increases, otherwise it may continue to consolidate. Some opinions predict that Bitcoin may first test around $120,000, and then pull back to about $114,000.

Regarding Ethereum, analysts believe it is about to break through a four-year long resistance level, and it is expected to hit $4000 this week. Multiple positive factors such as increased network activity, continuous ETF buying, and the destruction mechanism support its rise.

BNB performed actively, reaching a new high of 855 dollars. Several listed companies have increased their holdings of BNB or are laying out related businesses, driving its strong performance. In addition, some concept coins and the NFT sector have also seen significant increases.

Market Data

As of July 28, 12:00 1928374656574839201 Hong Kong time (:

• Bitcoin price is $119,465, up 27.77% year-to-date.
• Ethereum price is $3,933.53, up 17.76% year-to-date.
• Fear and Greed Index 75, in the Greed zone
• BTC market share 60%, ETH market share 11.9%
• $249 million in global liquidations in the last 24 hours

![HashKey Trading Moment: Ethereum may break through the 4-year resistance level and hit $4000 this week, will Bitcoin first test $120,000 then pullback?])https://img-cdn.gateio.im/webp-social/moments-93dacee4a213e9b8f5e3c8ec94e51435.webp(

ETF Capital Flow

As of July 25:

• Bitcoin ETF net inflow of $130 million
• Ethereum ETF has seen a net inflow for 17 consecutive days, totaling $453 million.

Recent Hot Events

• Multiple projects will undergo token swaps or unlocks
• Some new projects are about to launch on the mainnet or exchanges
• The tenth anniversary of Ethereum's launch is approaching
• The Federal Reserve's interest rate decision and non-farm data are about to be released.

Overall, the crypto market remains in a positive atmosphere, but short-term volatility may increase. Investors need to closely monitor the macroeconomic situation and the release of important data, while also being wary of potential risks.