Cryptocurrency market review

2026. 8. 7. 오후 12:51:13

This week, the prices of leading cryptocurrencies attempted to grow but have currently returned to declining: the BTC token is trading around 64200.00 (+1.2%), ETH is near 1900.00 (+0.9%), the USDT price is 0.9994 (+0.01%), BNB is at 585.00 (–0.9%), and USDC is at 1.0006 (+0.01%). Total market capitalization stood at 2.19T, with BTC’s share at 58.9%, while over the last four sessions, the balance of Bitcoin-ETFs increased by 763.6M, and Ethereum-ETFs by 194.1M.

The main impact on the sector’s dynamics was exerted by geopolitical and monetary factors: the initial increase was driven by rising investor interest in risky assets against weakening geopolitical tensions in the Persian Gulf region and a possible peace agreement between the US and Iran. Thus, on Tuesday, Treasury Secretary Scott Bessent stated that a deal implying free passage of vessels through the Strait of Hormuz could be agreed upon within the coming days, which led to a weakening of the dollar’s position, but so far, no new details on the issue have followed. Moreover, official Tehran denied this information and reported discussions on joint control over the key sea route with Oman and a ban on tankers associated with the US and Israel passing through it, resulting in digital currencies shifting to decline.

Now experts expect the publication of July data on the state of the US labor market at 14:30 (GMT+2): if statistics justify forecasts of unemployment remaining at 4.2% and nonfarm payroll growth at 85.0K, confirming the sector’s stability, the probability of another US Fed interest rate hike by a minimum of 25 basis points in September will significantly increase from the current 55.0%, according to the Chicago Mercantile Exchange (CME) FedWatch Tool, putting pressure on the cryptocurrency sphere. Policymakers have long openly declared their intention to continue tightening monetary policy against inflation that has been exceeding the target level of 2.0% for five years, and over the last few days alone this idea was supported by Kansas City Federal Reserve Bank (FRB) President Jeff Schmid, St. Louis FRB head Alberto Musalem, and regulator board member Lisa Cook, making a shift to a “hawkish” course quite possible.

A negative impact on prices is exerted by the postponement of the Senate vote on the Cryptocurrency Market Structure and Transparency Act (CLARITY): yesterday, Senate Republican Majority Leader John Thune confirmed that it will not take place before the summer recess. Experts believe that such a decision by politicians significantly reduces the likelihood of approval before the end of the year, especially since the key issue of ethical clauses in it has still not been resolved. In addition, a series of hacker attacks on cold wallets of cryptocurrency owners, which began late last week using a vulnerability in keys generated by the Coldcard service, is alarming traders. According to Galaxy Digital Inc., three confirmed series of fraudulent actions affected 7.3K wallets, from which BTC tokens worth at least 100.9M were stolen. On the other hand, Bloomberg analyst Eric Balchunas suggested that this would prompt a transfer of funds into more secure digital exchange instruments.

Overall, the situation in the cryptocurrency market remains difficult, as evidenced by the Fear and Greed Index remaining in the Fear Zone at 29, and under these conditions, most leading digital assets may resume declining or move into consolidation.

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