BTC and ETH Price Update: Crypto Market Stalls at $3.7 Trillion as Traders Pivot
August 7, 2025 — The overall cryptocurrency market remains in a holding pattern, hovering between $3.6 trillion and $3.8 trillion in total capitalization. As traders pull liquidity from major tokens, attention shifts toward micro-cap cryptocurrencies, indicating a period of market consolidation in early August.
Bitcoin Shows Signs of Fatigue Near Key Moving Average
Bitcoin (BTC) recently tested its 50-day moving average (SMA) again on Tuesday, a signal often interpreted by analysts as a sign of market exhaustion. Despite this, the total market capitalization remains steady above its medium-term trend line with the market cap sitting around $3.72 trillion compared to the 50-day SMA of approximately $3.57 trillion.
Alex Kuptsikevich, chief market analyst at FxPro, commented, “Bitcoin was again approaching its 50-day moving average. Such frequent testing of the medium-term trend signal line indicates accumulated fatigue in the first cryptocurrency.” He further explained that the support near previous peak levels suggests a temporary pause allowing traders to lock in profits. However, this pause seems to be turning active traders away, who have now redirected their focus and capital towards very small projects.
Institutional Investors Double Down Amid Market Stability
Contrary to the cautious stance of short-term speculators, institutional investors have continued to accumulate Bitcoin and Ethereum (ETH) steadily. Gaming company SharpLink notably acquired 83,561 ETH (valued at approximately $264.5 million) last week, bringing its total holdings to 522,000 ETH. Across the industry, 64 corporate entities now collectively own about 2.96 million ETH, equivalent to 2.45% of total supply, with an estimated market value of $10.81 billion.
Bitcoin is also witnessing robust institutional demand. Strategy, an investment entity, added 21,021 BTC (roughly $2.46 billion) in July alone. Cumulatively, large entities increased their BTC holdings by 26,700 coins last month. Presently, public and private firms own about 1.35 million BTC, representing over 6% of total circulating supply, according to BitcoinTreasuries data.
Market Pricing and Activity Snapshot
As of Thursday morning Asian trading hours, BTC is consolidating around $114,570, while ETH trades near $3,650. Other major cryptocurrencies, including XRP, Solana (SOL), and Dogecoin (DOGE), have seen modest gains, with Solana and Dogecoin leading among the majors with approximately 3.5% increases. XRP is up around 2% trading close to $3.04. Despite these incremental gains, overall market volatility and trading volumes remain subdued.
Stablecoins on the Rise: USDe Surges
Stablecoins continue to demonstrate sustained growth, marking their seventh consecutive month of expanding market capitalizations. The total stablecoin market now approaches $275 billion. Ethena’s USDe stablecoin recently surged by 75% since mid-July to reach a market cap of $9.5 billion, making it the third-largest stablecoin by capitalization. The sharp rise in USDe is attributed to attractive yield offerings, ranging between 10% and 19%, depending on specific markets and investment strategies.
Increased flows into stablecoins are often interpreted as a fresh influx of fiat currency into the crypto ecosystem, which could foreshadow upcoming market volatility as investors exchange their fiat-pegged assets for riskier tokens.
This evolving market scenario reflects a moment of consolidation and rotation within the crypto space, as retail traders pull back from major assets while institutions maintain confidence and increase their holdings in foundational cryptocurrencies like Bitcoin and Ethereum.
Reported by Shaurya Malwa, CoinDesk.