Cryptocurrency Market Analysis [August 26]

Bitcoin is currently hovering around $110,000, and the price has been undergoing a downward correction since last week.

This level corresponds to July this year and sits at the lower end of the range since late July.

Last week it seemed to spike due to the Fed chair’s remarks, but afterward it underwent a downward correction, making it hard to discern a clear directional trend.

There is also a tense mood between the government and the Fed, with President Trump demanding the dismissal of a Fed governor.

August is often called a summer lull market, but there is a sense that Ethereum could continue to hit new highs, indicating higher price volatility.

Regarding Ethereum, the current level is around $4,500, and although it hit a new high last week, it is also undergoing a downward correction.

Compared to Bitcoin, the lows are rising, so Bitcoin’s price appears to be trending higher.

Last week, the cryptocurrency market surged—Ethereum reached a record high of $4,900.

The background to last week's strong rally was President Powell’s remarks suggesting a rate cut in September.

The rise is said to be driven by the expectation of a 0.25% rate cut, based on rising unemployment as a basis for change.

Additionally, tariff policies could push up prices, raising concerns about inflationary pressure.

Regarding the future bull run, along with rate cuts, the ETFs currently under application for various currencies could be a factor. In particular, approvals for ETFs with staking for ETH, XRP, SOL are being discussed.

If these timings align, they could exert a strong upward pressure.

◯ Potential for continued bull market ahead — Arthur Hayes

At the large Web3 conference “WebX” on the 25th, renowned crypto analyst Arthur Hayes took the stage in the opening session — CoinPost

· With the impact of stablecoins, US Treasuries are issued, stabilizing currencies and enabling short-term interest rate control

· In DeFi, attention is on Ethena, Hyperliquid, ether.fi, and Codex; providing interest to stablecoin holders

Overall, a bull market is anticipated through 2028.

The big keywords remain stablecoins, and since Ethereum is the leading stablecoin, there is strong interest in how Ethereum and other stablecoins will be used. Personally, I think L2 could become more prominent.

◯ Movement of stablecoins in Korea

Korea’s four major financial groups are reportedly planning meetings with the major stablecoin issuers Tether and Circle in the United States, according to Yonhap News on August 21, citing industry insiders.

The bank executives are expected to discuss collaboration areas including the circulation and trading of US dollar-linked stablecoins in Korea and the issuance of won-linked stablecoins.

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(This article has been distributed since 2016.)