Oh, hello darlings! So, it seems Bitcoin (BTC $116 527, 24h volatility: 0.6%, Market cap: $2.32 T, Vol. 24h: $41.38 B) and Ethereum (ETH $3 899, 24h volatility: 2.6%, Market cap: $470.60 B, Vol. 24h: $35.86 B) have decided to grace us with their presence, turning green in the last 24 hours. BTC has reclaimed $116K and ETH is pushing above $3,900. *applauds* Well done, boys, well done!
But wait, don’t get too excited yet. According to the ever-so-wise 10x Research, there are several catalysts driving these two crypto kings toward key levels. In their July 28 note, they bravely forecasted that Bitcoin might retest its $111,673 breakout point, providing a favorable risk/reward entry. And guess what? On August 7, Bitcoin dipped to $111,643 and then, like a true diva, swiftly rebounded to $117,000. *dramatic gasp*
Several Catalysts Are Driving Bitcoin and Ethereum Toward Breakout Levels – But Is It Enough?
Actionable Market Insights
In our July 28 report, we noted: “We would prefer to see Bitcoin retest its $111,673 breakout level to provide a more favorable risk/reward entry point.” On…
– 10x Research (@10x_Research) August 8, 2025
Caution Amid Major Developments
However, 10x Research is throwing a bit of a dampener on the party. They caution that compressed volatility, those pesky seasonally weak trading months, and the lack of strong macroeconomic drivers could limit the bullish momentum. And let’s not forget the political developments, shall we? President Donald Trump’s push to expand 401(k) crypto access and his love affair with gold might just influence sentiment. *rolls eyes*
From Fear to Key Resistance Levels
Just a week ago, fear was the name of the game, driving Bitcoin below $110,000 amidst whispers of a market breakdown. But fear not, my dears, Swissblock data suggests that risk remains contained. Since then, Bitcoin has rallied into the firm’s “blue zone” target, as shown in a chart shared by Swissblock. *cheers*
Now, price has reached the blue zone target.
If it consolidates here, wait for momentum to align.
Next target: breakout zone at $120.5K.
– Swissblock (@swissblock__) August 8, 2025
Swissblock analysts are now eyeing $120,500 as the next breakout level, but they’re warning us to expect a period of consolidation before any significant surge in prices. *whispers* Patience is a virtue, darling.
Retail Accumulation Remains Strong
And while the big boys are busy analyzing charts, the little guys, affectionately known as “Shrimps” and “Fish,” are busy accumulating. On-chain data from Glassnode shows that these smaller wallets are absorbing supply faster than it’s being created. *claps* Monthly balance growth is at +17,000 BTC, exceeding the monthly issuance of +13,850 BTC. Shrimps alone have added nearly 10,000 BTC, proving that retail-led demand is still strong. *raises a glass* To the little guys!
Shrimp-to-Fish cohorts (wallets with <100 $BTC) continue to absorb supply faster than it’s created. Monthly balance growth sits above +17K #BTC – outpacing the +13.85K $BTC issuance – with Shrimps alone adding nearly 10K #BTC, underscoring persistent retail-led accumulation.
– glassnode (@glassnode) August 8, 2025
Ethereum’s Outperformance Lifts Altcoin Sentiment
Meanwhile, Ethereum has been quietly outperforming Bitcoin on a relative basis. According to BitBull, the ETH/BTC ratio has climbed nearly 75% since May’s lows and is now testing a significant resistance level. *gasps* The move is accompanied by a rise in the Impulse indicator, which measures altcoin market strength. Historically, this combination has preceded strong altcoin rallies. *winks*
ETH/BTC has quietly climbed back from the bottom.
Since May, it has gone up nearly 75%, and now it’s testing a major resistance level.
But this isn’t just about Ethereum.
Whenever ETH/BTC starts to rise, it often pulls the entire altcoin market with it.
That’s what we’re…
– BitBull (@AkaBull_) August 8, 2025
If ETH/BTC breaks above resistance and impulse strength continues to build, analysts say altcoin gains could accelerate sharply. *dramatic pause* Oh, the drama!
Altcoin Season Soon?
MN Trading Capital co-founder Michaël van de Poppe has gone “all-in” on altcoins, predicting potential returns of 200-500% in the next two to four months. *swoons* He views Ethereum’s latest rally as a sign of growing risk appetite in the market. However, trader Ash Crypto is urging caution, noting that August and September have historically been weak for cryptocurrencies. *nods wisely*
$ETH is breaking out of a bullish falling wedge which shows bull trend continues
We all want pump like this but Aug-sept are generally bearish months for crypto, so i would be cautiously bullish.
Resistance: $4,100 Support: $3,550
– Ash Crypto (@Ashcryptoreal) August 7, 2025
Data from CoinGlass shows that Q3 has been Ethereum’s poorest-performing quarter since 2016, with an average return of just 6.48%. But hey, it still remains as one of the best crypto to buy in 2025. *shrugs* What can you do, right?
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2025-08-08 14:07