News & Research

The following are liquidation volumes and ratios for major cryptocurrency perpetual futures over the last 24 hours: - BTC: $39.33 million, with long positions accounting for 57.86%. - ETH: $89.14 million, with long positions accounting for 73.05%. - SOL: $27.90 million, with short positions accounting for 57.97%.

U.S. spot Bitcoin ETFs recorded a net inflow of $179.36 million on Aug. 28, marking the fourth consecutive trading day of positive flows, according to Trader T. Ark Invest's ARKB led the inflows with $79.81 million, followed by BlackRock's IBIT with $64.19 million. Other notable inflows included $25.02 million for Bitwise's BITB, $5.45 million for Grayscale's Mini BTC, and $4.89 million for Fidelity's FBTC.

The current Bitcoin market cycle is becoming more prolonged compared to previous ones, according to an analysis by CryptoDan, a contributor to CryptoQuant. On-chain data shows that the proportion of Bitcoin held for over one year is increasing at a slower pace. The analyst attributed this trend to the introduction of spot ETFs, increased adoption by institutions and nations, and capital flows into altcoins, noting that Bitcoin's rallies have repeatedly stalled when funds move into altcoins. Looking ahead, the analysis suggests that expectations for a September interest rate cut and the potential approval of spot altcoin ETFs in October are likely to act as positive market catalysts. Consequently, a more positive market sentiment could form this autumn and winter. From a cycle perspective, any further corrections could present favorable buying opportunities for investors, the analyst concluded.

U.S. spot Ethereum (ETH) ETFs recorded a net inflow of $39.63 million on Aug. 28, marking the sixth consecutive trading day of positive flows, according to Trader T. BlackRock's ETHA led the inflows with $68.09 million, followed by Grayscale's Mini ETH with $6.27 million. Conversely, Fidelity's FETH and Bitwise's ETHW experienced net outflows of $33.45 million and $1.28 million, respectively.

Coinbase is establishing itself as a key lending source for crypto mining companies, Bloomberg reported. This transformation follows the collapse of previous industry lenders such as Celsius and BlockFi, positioning Coinbase to move beyond its core exchange and custody services. Mining firms including CleanSpark (CLSK), Riot Platforms (RIOT), and Hut 8 (HUT) are expanding their credit lines with the company. Brian Dobson, a managing director at New York-based fintech firm Clear Street, said that mining companies require significant capital for high-cost equipment, power needs, and a transition toward AI infrastructure. He added that Coinbase's expansion of its financial infrastructure is accelerating due to the pro-cryptocurrency regulatory environment of the Trump administration.

The volume of ETH held in accumulation addresses, defined as wallets that acquire the asset for the long term without selling, has reached a new all-time high. According to CryptoQuant contributor Burak Kesmeci, this metric is a key indicator of long-term investor confidence in the market. Holdings in these addresses have surged threefold from 8.9 million ETH last May, prior to the spot ETF approval, to 24.3 million ETH as of this August. Kesmeci stated that this trend suggests institutional funds from ETFs are buying spot ETH and moving it into long-term storage. The pace of accumulation has accelerated sharply since June, with average daily inflows rising from a few thousand ETH to hundreds of thousands. Several days have seen inflows of over 500,000 ETH, which Kesmeci described as the beginning of an accumulation race driven by institutional demand. He also noted that the average purchase price for these addresses is around $2,500, placing most of them in significant profit. Historically, he added, long-term investors in such a position tend to support upward trends by holding their assets.

CoinMarketCap's Altcoin Season Index has reached 57, an 11-point increase from yesterday. The index is calculated by comparing the price performance of the top 100 cryptocurrencies by market capitalization—excluding stablecoins and wrapped coins—against Bitcoin's performance over the last 90 days. A period is considered an altcoin season when 75% of these top coins outperform Bitcoin during that timeframe, with a reading closer to 100 indicating a stronger trend.

The Crypto Fear & Greed Index rose two points from yesterday to 50, maintaining its neutral stance, according to data from Alternative. The index measures market sentiment on a scale of zero, indicating extreme fear, to 100, representing extreme optimism. It is calculated based on factors including volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

Bitcoin options with a notional value of $11.58 billion are set to expire at 8:00 a.m. UTC on Aug. 29, according to data from crypto options exchange Deribit. The contracts have a put/call ratio of 0.78 and a max pain price of $115,000. Additionally, Ethereum options worth $3.13 billion will expire at the same time, featuring a put/call ratio of 0.77 and a max pain price of $3,800.

Federal Reserve Governor Christopher Waller, who has been mentioned as a potential successor for the Fed chairmanship, described the proposed U.S. stablecoin regulation known as the GENIUS Act as a good starting point, according to media reports. He added that these issues will be addressed incrementally going forward.