1. Today's Core News Summary

1. Capital Flow: BTC ETF Ends 7-Day Gains, Capital Rotation to ETH Intensifies
U.S. Bitcoin spot ETF has seen a significant net outflow for two consecutive days, with a net outflow of over $240 million on July 25, ending the previous streak of net inflows for seven trading days. Among this, BlackRock's IBIT saw a single-day outflow of $202 million, contributing to 90% of the total outflow. In contrast, the Ethereum spot ETF continued to see net inflows for the fifth day in a row, with a net inflow of $26 million that day, indicating a clearer trend of institutional funds rotating from Bitcoin to Ethereum.

2. Regulatory Environment: Increased Geopolitical Sanctions, Global Regulatory Progress Diverging
The EU has officially included a cryptocurrency trading ban in the core measures of the 21st round of sanctions against Russia, affecting over 100 banks and crypto operators, severing Russia's channels for circumventing sanctions using crypto assets. Russia's first comprehensive cryptographic regulatory bill has been officially passed, set to take effect on September 1, establishing a regulatory framework that clarifies licensed trading compliance and prohibits domestic payments. In the U.S., the probability of passing the CLARITY Act has decreased, leading to a cooling expectation for regulatory developments and a resurgence of wait-and-see sentiment.

3. Sentiment and Liquidation: Continued Panic State, Long Liquidation Dominates
The crypto fear and greed index today stands at 26, still in the "fear" zone, indicating an overall weak market risk appetite. In the past 24 hours, the total liquidation across the market amounted to about $312 million, with over 70% being long liquidations. Bitcoin long liquidations reached $87 million, triggered by concentrated stop-loss orders when prices dipped to the $63,800 level yesterday.

4. Sector Performance: Low Volume General Rise Over the Weekend, Meme and Layer2 Slightly Active
Weekend market trading was light, with the total market capitalization slightly rebounding to $2.29 trillion, while the Meme sector led with about a 6% increase, and coins like Polygon in Layer2 saw over 2.5% gains. Smaller cap coins showed increased differentiation, and overall, there is a lack of a continuous mainstream trend.

2. Overall Market Overview
The crypto market shows a narrow restoration trend, with significantly reduced volume over the weekend. ETH continues to outperform BTC:
• BTC priced around $64,400, with a 24-hour increase of about 0.5%, oscillating above the $64,000 level.
• ETH priced around $1,880, with a 24-hour increase of about 1.0%, showing better resistance and rebound strength than Bitcoin.
• SOL priced around $74.7, with a 24-hour increase of about 0.8%, maintaining consolidation in line with the broader market.
The market is generally in a volume reduction recovery phase after a decline, with both bulls and bears not launching large-scale attacks at key levels. Day trading is focused on range-based strategies.

3. Mainstream Coin Daily Strategies and Entry Points
1. BTC
Market characterization: The 4-hour level remains in a range of $63,800-$65,200. After dipping to $63,800 yesterday, it quickly recovered, indicating existing support below. However, due to ETF capital outflows, upward momentum is insufficient, making it difficult to break the range under low volume conditions over the weekend. Approach with a high-sell low-buy mindset.

• Key Support:
◦ First Support: $64,000 - $64,100 (short-term support for the day)
◦ Strong Support: $63,700 - $63,800 (bull-bear dividing line, breaking below would indicate short-term weakness)

• Key Resistance:
◦ First Resistance: $65,000 - $65,200 (7-day moving average + upper range resistance)
◦ Strong Resistance: $65,600 - $65,800 (previously dense trading area)

• Daily Reference Strategy:
◦ If stabilizing at the $63,900–$64,100 range, consider light long positions, with a stop-loss placed below $63,600.

◦ If rebounding to the $64,900–$65,100 range under pressure, consider short positions, with a stop-loss placed above $65,400.

◦ Given the low liquidity over the weekend, avoid chasing highs and lows, focusing on quick in-and-out trades within the range.

2. ETH
Market characterization: The short-term rebound structure remains intact, with strong support forming around $1,850, and continued ETF capital inflow providing fundamental support; the $1,900 integer mark above represents short-term pressure, with the overall trend demonstrating independence and strength, focused primarily on buying on dips.

• Key Support:
◦ First Support: $1,865 - $1,870 (short-term support for the day)
◦ Strong Support: $1,850 - $1,855 (bull-bear dividing line, breaking below would slow the rebound pace)

• Key Resistance:
◦ First Resistance: $1,890 - $1,900 (7-day moving average suppressing + integer level)
◦ Strong Resistance: $1,925 - $1,930 (previously dense trading area)

• Daily Reference Strategy:
◦ If stabilizing at the $1,860–$1,870 range, consider light long positions, with a stop-loss set below $1,845.

◦ If rebounding to the $1,890–$1,900 range under pressure, consider short positions, with a stop-loss set above $1,915.

◦ If volume increases and stabilizes above $1,900, look to extend to the $1,925-$1,930 range.

3. SOL
Market characterization: Following broader market fluctuations and recovery, overall elasticity is weaker than ETH, with on-chain activity and capital interest being average, and the $73.5-$76 range structure still intact, treated with a range-based approach during the day.

• Key Support:
◦ First Support: $74.0 - $74.3 (short-term support for the day)
◦ Strong Support: $73.3 - $73.6 (bull-bear dividing line, breaking below would revert to a weak state)

• Key Resistance:
◦ First Resistance: $75.5 - $75.8 (pressure point for the day)
◦ Strong Resistance: $76.3 - $76.6 (previous high point resistance)

• Daily Reference Strategy:
◦ If stabilizing at the $73.9–$74.3 range, consider light long positions, with a stop-loss set below $73.0.

◦ If rebounding to the $75.5–$75.9 range under pressure, consider short positions, with a stop-loss set above $76.5.

◦ If breaking below $73, it is advisable to avoid positions, only following through if breaking above $76.5 with volume.
Operational Supplementary Reminder

1. The market is thinly liquid over the weekend, making it prone to extreme spikes, suggesting light trading, strict stop-losses, and maintaining positions at no more than 50% of regular levels.
2. Key variables to observe during the day: Pre-market risk appetite in U.S. stocks, capital flows to Bitcoin and Ethereum ETFs, unexpected disturbances in regulatory news.
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