Bitcoin fell below the milestone of $116,000 last week on July 31. Since July the price had been hovering around $120,000 lower, but now it has slipped one level further from that mark.

This is currently a topic in the news, but there is movement to replace the Labor Secretary by President Trump, and it is said that the employment statistics related to that have influenced the decline. Regarding the Fed, it is also decided to hold rates.

Bitcoin finished July at $115,000, but as a monthly close it appears to have reached an all-time high.

In addition, analysts say that Bitcoin ending this month at a record high of $115,644 is not just a notable figure, but reflects market resilience and increased maturity. Conversely, some analysts expect August to be a soft or down month based on past data, with a temporary decline anticipated.

Next is Ethereum. A few days ago it briefly dropped to $3,400, but then rebounded and recovered to $3,600. This rebound has been stronger than Bitcoin.

Ethereum has shown higher performance against Bitcoin in recent months and has remained solid.

Ethereum's price over the past three months.

BTC down 45% versus ETH

SOL down 49% versus ETH

thereby

you can see that ETH is leading the rally.

Also on the Ethereum network, 46.67 million transactions have been recorded, and the price of ETH itself is at a multi-year high. This record is said to be a few percent higher than at the peak price moment in 2021.

◯ Bitcoin elevated to national assets

IMF (International Monetary Fund) has announced that cryptocurrencies will be formally included in statistics as national assets.

It is a statistic about how digital currencies function as owned assets.

The IMF has previously warned about Bitcoin and even rejected loans to El Salvador, which had made Bitcoin legal tender. From this global trend, it can be said that there is a shift in direction.

◯ Ethereum reaches its 10th anniversary

Last week marked Ethereum's 10th anniversary (post-mainnet).

Over ten years, the ecosystem has grown, and it has been integrated into U.S. ETFs, marking a tumultuous era. Today, Ethereum continues to lead the cryptocurrency ecosystem. The Genius bill related to stablecoins approved by the U.S. Congress last month further heightened Ethereum's influence.

Below are statements from Coinbase CEO Armstrong

Ethereum.

Interesting fact: I met Vitalik (Ethereum founder) at the Bitcoin Conference in San Jose in 2013. At the time he was contributing to Bitcoin Magazine (his writing was excellent).

A few months later, I invited him to Coinbase's first office in San Francisco, and he showed us a few cool things on his laptop. Fred, Olaf, and I decided we should hire him and reached out to see if he would be interested in joining. However, various circumstances, such as him being unable to obtain a work visa in the United States, prevented it from happening, and he had to return to Canada.

While stuck in Canada, he created Ethereum. In a sense, then, the inadequacy of the U.S. immigration system contributed to the creation of Ethereum.

◯ President Trump, will there be penalties for banks that treat cryptocurrency unfavorably?

The White House is reportedly preparing an executive order to impose fines or sanctions on banks that discriminate against conservatives or cryptocurrency companies, by targeting practices that harm them.

It is said to impose an obligation on banking regulators to investigate whether financial institutions are violating antitrust laws, consumer protection laws, or fair lending laws.

Congratulations to Ethereum on its 10th anniversary

◯ Mercari's Mercoin and Coincheck form a partnership

This partnership would allow cryptocurrency trading through the Mercari app via Coincheck.

When trading on Coincheck, you should check the spread (the difference between the buying and selling price, i.e., the fee) before trading (Coincheck has a wide spread).

◯ Will August crash? - Robert Kiyosaki

Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, pointed out on X on the 4th that the price of Bitcoin (BTC) could crash in August.

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(This article has been distributed since 2016)

Cryptocurrency Market Analysis [August 5]