A comprehensive summary of the latest prices, market analysis, and strategy recommendations for Bitcoin (BTC) and Ethereum (ETH) as of August 2, 2025:

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### 📉 **Latest Price Levels and Market Dynamics**
1. **Bitcoin (BTC)**
- **Current Price**: **$112,968** (24-hour drop of **2.69%**), with a daily low of **$112,722**, breaking the key support level of **$113,000**.
- **Technical Break**: Losing the support zone of **$114,000–$115,000**, the next key support is at **$110,000** (psychological level) and **$107,000**.

2. **Ethereum (ETH)**
- **Current Price**: **$3,494** (24-hour drop **6.12%**), briefly fell below **$3,450**, with a minimum of **$3,431**.
- **Linked Decline**: Major altcoins (such as SOL, XRP) generally fell **7–12%**, and market sentiment is extremely pessimistic.

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### 📉 **Analysis of Downward Driving Factors**
1. **Macroeconomic Policy Shock**

2.
- **Options Expiration Shock**: Deribit **$572 million BTC options** and **$135 million ETH options** expire on the same day, BTC drops below the maximum pain point **$116,000**, triggering long position stop losses.
- **On-chain liquidation wave**: In the past 24 hours, the total liquidation across the network reached **$950 million**, with long positions accounting for **90%** (**$858 million**), and the daily liquidation volume of ETH reached **$332 million**.
- **Technical Signal**：
- BTC: MACD histogram turns negative (**-325**), RSI drops to **below 30** (oversold region).
- ETH: The hourly chart has formed a '**death cross**' (50EMA crossing below 200EMA), with RSI dropping to **22**.

3. **Capital Outflow and Institutional Behavior**
- **ETF Selling Pressure**: Bitcoin spot ETF saw a net outflow of **$114.8 million** in a single day (primarily from Fidelity/ARKB), with institutional funds continuing to withdraw.
- **On-chain*: Coinbase Premium Gap turns negative (weak demand in the U.S.), Kimchi Premium remains negative (Asian shorts dominate).

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### 📉 **Market Sentiment and Key Events**
1. **Sentiment Indicator**: The Crypto Fear & Greed Index plummeted from **72** (Greed) to **65** (Neutral-Bearish), and market panic sentiment is spreading.
2. **Policy Implementation Disturbance**: The Hong Kong "Stablecoin Regulation" takes effect today, putting short-term liquidity under pressure while benefiting compliance in the long run.
3. **Economic Data Risks**: The approval of U.S. export licenses is stalled, hindering business operations and exacerbating concerns about economic recession.

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### 💡 **Trading Strategy Suggestions**
| **Underlying** | **Direction** | **Key Levels** | **Target/Stop Loss** |
|----------|----------------|---------------------------|----------------------------|
| **BTC** | **Short on Bounce** | Entry: $114,000 (Rebound Resistance)| Target: $110,000; Stop Loss: $115,500 |
| **BTC** | **Long on Sudden Drop** | Entry: $107,000 (Strong Support) | Target: $112,000; Stop Loss: $105,000 |
| **ETH** | **Breakout Short** | Entry: $3,450 (valid breakdown) | Target: $3,300; Stop Loss: $3,520 |
| **ETH** | **Oversold Rebound** | Entry: $3,400 (RSI<20) | Target: $3,600; Stop Loss: $3,350 |

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### ⚠️ **Risk Warning**
1. **Increased Volatility**: Pay attention to Trump's policy statements and the correlation with U.S. stocks during the European and American trading sessions (the Nasdaq fell **2.24%** overnight).
2. **Bottom Unclear**: Glassnode data shows that **90% of BTC supply is still profitable**, and further selling may trigger a panic.
3. **Position Management**: The open interest of derivatives reached **$34.1 billion** (historical high), avoid high leverage operations.

> 🌐 **Summary**: The market has entered a deep correction phase, with macro uncertainty dominating the short-term trend. Pay attention to the support strength of **BTC $110,000** and **ETH $3,300** during the day. If there are no favorable catalysts in the European and American markets, the downside risk still outweighs the rebound opportunities. #6 BTC全民空投限时派送中 #Gate Alpha积分撸40U #白宫加密报告发布