Bitcoin is once again approaching its 50-day moving average, a level it has tested multiple times in recent weeks. The repeated interaction suggests growing exhaustion in the asset’s upward momentum, according to analysts.
“Bitcoin continues to flirt with its 50-day trendline, a sign that bullish momentum may be losing strength,” said Alex Kuptsikevich, chief market analyst at FxPro. “Traders appear to be cashing out near recent highs, while attention shifts to smaller, high-risk tokens.”
The total crypto market cap remains range-bound between $3.6 trillion and $3.8 trillion. It currently sits near $3.72 trillion—still above the 50-day simple moving average of $3.57 trillion—despite a noticeable slowdown in trading activity and a rotation into micro-cap assets during the early days of August.
Institutional Inflows Strengthen
While short-term traders are stepping back, institutional players are ramping up their positions in top-tier digital assets.
Gaming and tech company SharpLink added 83,561 ETH last week—worth approximately $264.5 million—boosting its holdings to 522,000 ETH. Across the board, 64 corporations now collectively hold 2.96 million ETH, or 2.45% of the total supply, valued at roughly $10.81 billion.
Bitcoin has also seen notable institutional inflows. Strategy, an asset manager, acquired 21,021 BTC in July, totaling around $2.46 billion. In all, institutions accumulated 26,700 BTC throughout the month. According to BitcoinTreasuries data, corporate entities now hold over 1.35 million BTC—more than 6% of circulating supply.
Market Snapshot: Majors Stay Flat, Micro-Caps and Stablecoins in Focus
As of Thursday morning in Asia, Bitcoin is hovering near $114,570, while Ethereum trades at $3,650. XRP gained 2% to reach $2.97, with Solana (SOL) and Dogecoin (DOGE) leading the majors, both up 3.5%. Despite modest gains, market-wide volumes and volatility remain relatively low.
Meanwhile, Ethena’s USDe has emerged as the third-largest stablecoin, surging 75% since mid-July to reach a $9.5 billion market cap. The growth appears to be driven by attractive yield opportunities between 10% and 19%, depending on market or strategy.
The total stablecoin market cap is nearing $275 billion, marking its seventh straight month of expansion. Rising stablecoin inflows are often interpreted as a sign of fresh capital entering the crypto ecosystem—potentially laying the groundwork for renewed market activity.
