BTC Near ATH, Traders Eye CPI Data

BTC Near ATH, Traders Eye CPI Data

Bitcoin (BTC) is trading around $118,600 after touching an intraday peak of $121,390, extending its strong upward momentum. However, traders eased off aggressive bets ahead of today’s U.S. CPI data and booked profits from the recent rally that pushed BTC close to its July all-time high.

Stablecoin Market Hits Record $281B

The total capitalization of stablecoins has climbed to a record $281 billion. Ethereum’s recent rally — the second-largest crypto by market cap — has been driven by rising institutional inflows, corporate adoption strategies, and a surge in stablecoin valuations.

According to DeFiLlama, Ethereum (ETH) and Tron (TRX) have recorded the largest stablecoin inflows in recent weeks, benefiting most from the fresh liquidity.

ETF Flows Surge for Bitcoin and Ethereum

On Aug. 11, U.S.-listed spot BTC ETFs saw inflows of $178.1 million. Spot ETH ETFs posted a record-breaking $1 billion in single-day inflows for the first time.

Altcoin Moves

·        XRP: Ripple-SEC rally cooled as XRP fell 4% to $3.14 on profit-taking.

·        SOL: Alameda Research unstaked 190,821 SOL worth $35M, sending Solana down nearly 6% to $174.

·        DOGE: Dropped 7% toward $0.22 support amid heavy selling.

·        Other decliners: ADA, HYPE, SUI, AVAX, DOT, PEPE, NEAR, and TAO fell 7–8%. LINK, XLM, LTC, ENA, XMR, AAVE, APT, and POL slid 4–5%.

Market Overview

The global crypto market cap is $3.95 trillion, down 2.65% over the past 24 hours.

·        Corporate Accumulation Continues

·        Strategy: Bought 155 BTC for $18M at $116,401 each, now holding 628,946 BTC worth $46.09B.

·        Metaplanet (Japan): Added 518 BTC worth $61.4M, total holdings now 18,113 BTC.

·        Capital B (France): Acquired 126 BTC for $14.4M, raising total to 2,201 BTC.

·        FG Nexus: Purchased 47,331 ETH worth ~$200M at $4,228.40 each, aiming to become a top global corporate ETH holder.

·        Sharplink Gaming: Raising $400M via share sale to five global investors at $21.76 each, planning to accumulate over $3B in ETH (~1% of circulating supply).

Outlook

Market sentiment hinges on the U.S. CPI report due today, with PPI data later in the week. Traders are hedging with puts to manage potential volatility, as inflation readings could be the biggest catalysts for crypto markets in the days ahead.

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