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WEEKLY SNAPSHOT
Note: Last Price mentioned in Weekly Returns table are as observed on 3rd August, 11:59 AM IST and in the Top 3 Alt Coins table are as observed on 2nd August, 11:59 PM IST.
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CRYPTO NEWS
1. Crypto Markets
Bitcoin moved from around $65,000 on July 27 to below $63,000 by August 3. Fed uncertainty, ETF withdrawals, chip-stock volatility and leveraged liquidations pressured prices. Ether also weakened but retained relative support from better institutional flows. Crypto continued behaving like a high-beta risk asset rather than a geopolitical safe haven.
Source: CoinDesk, Economic Times
2. Bitcoin and Ether ETF Flows
US spot Bitcoin ETFs recorded approximately $61.5 million in net outflows during July 27–31. Funds attracted $233.1 million on July 30 but lost $265.4 million the following day. Spot Ether ETFs performed better, recording approximately $10 million in weekly net inflows.
Source: Farside Investors
3. On-Chain and Derivatives Positioning
On-chain indicators continued to show weak spot-market conviction. Bitcoin remained below the short-term-holder cost basis near $69,000, an important resistance zone. CryptoQuant data indicated that altcoins corrected more sharply than Bitcoin, while derivatives positioning and liquidations amplified short-term moves. Strategy’s reduced Bitcoin buying also removed a previously consistent source of demand.
Source: Glassnode, CryptoQuant, MarketWatch
4. Ethereum and Altcoins
Ether showed intermittent relative strength, supported by positive ETF flows and institutional interest in stablecoins and tokenisation. However, altcoin participation remained narrow. Solana, XRP and selected ecosystem tokens saw individual activity, but the broader market did not confirm a sustained altcoin season.
Source: Farside Investors, CryptoQuant
5. Fed, Inflation and Bond Markets
The Federal Reserve kept rates unchanged at 3.50%–3.75% on July 29, with three policymakers preferring a 25-basis-point increase. Markets interpreted the decision as a hawkish hold. September hike expectations remained elevated as inflation stayed above target and Middle East risks threatened another energy-driven increase.
Source: Federal Reserve, Reuters
6. Global Macro, Oil and Geopolitical Risk
Oil remained the main cross-asset macro driver. Renewed US–Iran tensions initially lifted inflation concerns, but hopes of negotiations and reopening the Strait of Hormuz pushed Brent down more than 5% to around $83.40 on August 3. Lower oil reduced rate-hike expectations, supported bonds and equities, and weakened the dollar. Coordinated US–Japan intervention also strengthened the yen.
Source: Reuters
7. Gold and Silver
Gold rose to around $4,055 per ounce on August 3 as the dollar and Treasury yields declined. Gold gained about 1% in July, its first monthly rise in five months. Silver advanced to approximately $58.18, supported by lower yields and precious-metal demand, but remained more sensitive than gold to industrial growth and technology-sector volatility.
Source: Reuters
8. US Markets and Big Tech
The S&P 500 gained 1.05% and Nasdaq rose 1.59% for the week, despite sharp Fed-day losses. Investors continued to question whether heavy AI spending is producing sufficient returns.
Source: Reuters
9. Major US Stock Developments
Amazon: Jumped more than 15% after AWS revenue grew 37%.
Apple: Fell 7.4% on supply and pricing concerns.
Meta: Declined on weak free cash flow and high AI spending.
Nvidia: Remained tied to AI capex expectations and OpenAI financing reports.
Coinbase: Reported another quarterly loss as trading activity weakened.
OPTIONS OI ANALYTICS FOR UPCOMING WEEK
OI Analytics for the upcoming week: BTCUSD
Call writing remains heavily concentrated at the $70,000 strike, reinforcing it as the primary resistance level. On the downside, substantial put writing is clustered around the $58,000 strike, indicating a strong support zone and suggesting that market participants are willing to defend lower price levels. The Put-Call Ratio (PCR) currently stands at 0.49, reflecting a broadly bearish sentiment for the coming week. Additionally, significant straddle writing at the $65,000 strike points to expectations of price consolidation around this level.
OI Analytics for the upcoming week: ETHUSD
Call writing remains concentrated at the $2,100 strike, reinforcing it as the key overhead resistance level. On the downside, significant put writing is centered around the $1,600 strike, establishing a strong support zone and highlighting market participants’ willingness to defend lower price levels. The Put-Call Ratio (PCR) currently stands at 0.61, indicating a bearish bias for the upcoming week. Overall, the options positioning suggests a cautious market outlook, with resistance expected near $2,100 and strong support likely to emerge around $1,600.
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USA WEEK AHEAD (IST): [HIGH IMPACT DATA]
Monday, August 3 - 7:30 PM - ISM Manufacturing PMI
Tuesday, August 4 - 7:30 PM - JOLTs Job Openings
Wednesday, August 5 - 7:30 PM - ISM Services PMI
Friday, August 7- 6:00 PM - Non Farm Payrolls, Unemployment Rate
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