Recently, the Crypto Assets market has shown a complex situation. U.S. stocks are fluctuating at high levels, with upward momentum slowing down, while Bitcoin and Ethereum are in a Sideways consolidation phase, and the market is digesting sell pressure.

The most striking aspect is that an ancient whale has massively sold Bitcoin through the exchange, causing the Bitcoin price to briefly drop to $114,700. Compared to the continuous three-week decline triggered by the German government's sale of over 50,000 Bitcoins last year, the market's response this time has been relatively mild, with limited losses, reflecting the current strengthening of buying power.

On-chain data shows that the trading volume in the crypto market is on the rise, mainly concentrated in Bitcoin and Ethereum. The turnover rate of Bitcoin has increased, with investors holding positions costing over $100,000 trading frequently, while positions above $110,000 are decreasing. URPD data reveals that the price gap of $114,000 has been filled, but the gap of $112,000 still exists. The short-term support level is in the range of $103,500 to $108,500, where 1.58 million Bitcoins are concentrated.

On the Ethereum front, buying pressure is also strong, especially supported by spot ETFs and institutional funds. On July 24, Ethereum's spot ETF attracted $231 million in capital inflow, maintaining an inflow trend for 15 consecutive days. BlackRock's ETH spot ETF has reached an asset size of $10 billion, with trading volume twice that of Coinbase ETH, nearing 70% of Bitcoin ETF.

These data indicate that despite facing short-term fluctuations, the Crypto Assets market is showing considerable resilience. The continued participation of institutional investors and the strong performance of spot ETFs have injected new vitality into the market. However, investors still need to closely monitor market trends and weigh risks against opportunities.