Ethereum Aims for Decisive Breakthrough at $4,700, Bitcoin Battles $112,000 Resistance to Defend $108,800 Support

Market Overview

Recent political developments have stirred controversy in the U.S. financial sector. A high-profile announcement regarding Federal Reserve governance has sparked legal debates, emphasizing the importance of maintaining central bank independence. Concurrently, changes in regulatory leadership are unfolding at the CFTC. Market participants are eagerly anticipating Nvidia's upcoming earnings report, scheduled for release on August 28.

Bitcoin analysts are adopting a cautious stance. Long-term projections from asset management firms suggest a potential cycle bottom between $60,000 and $80,000 by 2026. More immediate concerns focus on key support levels, with particular attention to the $108,800 mark, identified as a critical "bull-bear threshold." For a confirmed uptrend, multiple experts emphasize the necessity of closing above $112,000 on higher timeframes. Some analysts anticipate potential consolidation in the $110,000 to $120,000 range, with the $117,000 level highlighted as a possible upside target.

Ethereum's outlook appears relatively optimistic, despite short-term profit-taking pressures. Analysts have identified crucial support zones between $4,000 and $4,700. Looking ahead, a successful breach of $4,700 could pave the way for further gains. More bullish projections suggest potential highs in the $5,100 to $5,450 range, with some experts even forecasting a surge to $10,000-$12,000 by year-end, citing increased institutional adoption as a key driver.

In broader market developments, significant price volatility was observed in certain tokens, leading to substantial liquidations and profits for some large holders. Additionally, a major technology and media group announced a strategic partnership with a leading cryptocurrency platform, proposing the adoption of a utility token for a rewards system and planning to establish a substantial token reserve.

Key Market Data (as of August 27, 12:00 HKT)

• Bitcoin: $111,650 (YTD +19.16%), 24h trading volume $39.888 billion
• Ethereum: $4,633.55 (YTD +38.54%), 24h trading volume $40.139 billion
• Market sentiment: Neutral (Fear & Greed Index: 52)
• Network fees: BTC 1 sat/vB, ETH 0.22 Gwei
• Market dominance: BTC 57.2%, ETH 14.4%
• Top traded assets on Gate: ETH, XRP, BTC, SOL, CRO
• 24h BTC long/short ratio: 49.34%/50.66%
• Sector performance: Meme coins +4.87%, AI-related tokens +4.23%
• 24h liquidations: 83,997 traders liquidated, total $277 million (BTC: $67.4M, ETH: $97.2M, SOL: $19.4M)

ETF Flows (as of August 26)

• Bitcoin ETF: +$88.2 million
• Ethereum ETF: +$455 million (4-day consecutive inflow)

Upcoming Events

• Gate to list Bitlayer (BTR) on August 27, with a 30-day airdrop campaign
• Gate to list Mitosis (MITO) on August 28
• Nvidia Q2 FY2026 earnings release (August 28, after US market close)
• Jupiter (JUP) token unlock: ~53.47M tokens (1.78% of circulating supply, ~$27.1M) on August 28
• Sophon (SOPH) token unlock: ~267M tokens (12.94% of circulating supply, ~$8.9M) on August 28

Top Gainers in Top 100 by Market Cap

Cronos +39.2%, Hyperliquid +11.8%, Story +11.8%, Pump.fun +10.7%, Solana +8.3%

Notable News

• A public company seeks $5B funding to advance its Bitcoin reserve strategy
• Dramatic price action on Hyperliquid leads to $16M profit for one address in a minute
• Veteran crypto trader closes $2.6M ETH long, reinvests $443M in ETH
• Google Cloud unveils L1 blockchain GCUL in private testnet
• Major investment firm commits $500M to blockchain-focused hedge fund
• Gate International to list new perpetual contracts for GMT, Omni Network, and Synthetix
• Union token reveals economics: 12% allocated for community incentives
• Prominent VC fund invests in prediction market platform
• Tech conglomerate signs $155M agreement with major crypto platform
• YZi Labs backs synthetic dollar protocol USD.AI
• Public company increases ETH holdings by 56,533 ETH, total now ~$3.7B
• Asset management firm files for Chainlink ETF with SEC
• Orderly proposes using 60% of net transaction fees for token buybacks
• Bitlayer announces token economics: 40% for ecosystem incentives, 7.75% for node rewards