«RBC-Crypto» does not provide investment advice; the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
On the morning of August 26, Bitcoin ($BTC) is trading below $79k, and Ethereum ($ETH) is around $2.45k. Over the past 24 hours, the prices of both cryptocurrencies have fallen by approximately 2%.
In the catalogs of major online exchange aggregators, offers to sell the TRC20 standard stablecoin $USDT for cash rubles or via SBP start at 87.5 rubles per 1 $USDT.
The total market capitalization of the crypto market is above $2.65 trillion. The Crypto Fear & Greed Index stands at 65 out of 100 (the "Greed" zone) — this indicates that investors have become inclined to buy cryptocurrencies.
Among the top 100 cryptocurrencies by market capitalization over the past 24 hours, the largest gain (+10%) was shown by LayerZero ($ZRO), the token of a project enabling cross-chain communication between different blockchains. The token of the first-layer blockchain Monad (MON) fell the most during this time, dropping by 13%.
During the trading session on August 24, the capital inflow into spot Bitcoin ($BTC) exchange-traded funds (ETFs) amounted to over $314 million. Spot Ethereum ($ETH) funds recorded an inflow of nearly $179 million.
Bitcoin News
On August 25, the Bitcoin price temporarily rose to $81.3k, where it encountered resistance that led to a slight correction. Experts noted that around this level lies a key technical indicator — the 50-week Simple Moving Average (SMA). Its breakthrough to the upside in previous cycles coincided with the start of a bull cycle in the crypto market.
However, different industry experts have their own indicators for determining trends. For example, the head of the analytics firm CryptoQuant, Ki Young Ju, believes that the "bear cycle is already over," pointing to the emergence of early bullish signals which he also observed in January 2023.
Crypto News
Against the backdrop of the overall growth of the past week, experts have again begun talking about the arrival of an altcoin season — a trend where major cryptocurrencies outpace Bitcoin in terms of growth.
Cryptoquant experts noted that liquidity is actively flowing from Bitcoin to $ETH markets and into riskier crypto assets. As stated in the Cryptoquant analytical note: "After a long period of low volatility and weak volumes, it is altcoins that have attracted investor attention."
Although, in fact, the current rise is a rebound from near-minimum price levels this year for many crypto assets. For example, $ZRO, which has risen more than 60% since August 17, had been trading at historically minimal price levels since the end of July. A similar dynamic is observed for at least a dozen of the top 100 crypto projects.
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