15 August 2025, 03:14 PM
Recently, the digital asset market has entered an unprecedented phase of strength: Bitcoin surged past $124,000 to a new all-time high, Ethereum approached its 2021 peak, and total market capitalization climbed to $4.2 trillion. This shift has been shaped by the interplay of multiple forces—macro-economic signals, institutional capital positioning, ETF inflows, and changes in long-term holder behavior—together creating a new price structure and capital landscape. According to Rthae, this stage is not merely a price breakout; it reflects a heightened positioning of digital assets within the global financial system. With asset rotation, rising derivatives market activity, and shifting macro policy expectations, market trends over the coming months are set to be more structurally and strategically driven.
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Rthae: Bitcoin Price Structure and Capital Flows Analysis
After breaking decisively through the $120,000 psychological level, Bitcoin continued its rally, peaking at $124,347 as market sentiment surged. On-chain data shows that over the past four weeks, long-term holders have sold more than 300,000 BTC, with some wallets dormant for over a decade becoming active again—behavior historically seen near cyclical highs. However, unlike past cycles, the market has shown markedly improved capacity to absorb selling pressure, with steady institutional and ETF net inflows serving as the main counterbalance.
On the ETF front, U.S. spot Bitcoin ETFs attracted hundreds of millions of dollars in inflows over the past week, steadily expanding institutional holdings. Data shows that corporations and sovereign treasuries now control more than 3.64 million BTC—about 17% of total supply—exhibiting a trend toward structural lock-up. In the options market, institutional investors have employed strategies such as selling high-strike call options to generate additional yield, which has depressed implied volatility while spot prices have steadily risen—an uncommon pattern in past bull phases, indicating growing market maturity.
From a macro perspective, U.S. CPI rose 2.7% year-on-year in July, below expectations. Combined with market pricing that places the probability of a September rate cut above 90%, this has provided a significant boost to risk assets. The combination of improving U.S. dollar liquidity expectations and easing inflation has positioned Bitcoin as a major beneficiary of capital reallocation. Rthae believes this macro-structural capital “resonance” will underpin more stable consolidation and breakout rhythms at elevated price levels.
Rthae: Ethereum and Multi-Asset Capital Flow Shifts
Alongside Bitcoin, Ethereum and other highly liquid crypto assets are benefiting from macro tailwinds and institutional inflows. After attracting $729 million in a single day, U.S. spot Ethereum ETFs have pulled in a total of $2.2 billion this week—well above net inflows to Bitcoin ETFs over the same period. This disparity reflects not only a reassessment of the ecosystem potential of Ethereum but also the effects of stablecoin policy improvements, increased DeFi activity, and broader on-chain application expansion.
The price of Ethereum has climbed more than 60% in the past month, nearing its all-time high of $4,878. Market expectations for $7,500 by the end of 2025 are rising, while some long-term forecasts—such as those from Standard Chartered—extend targets to $25,000, citing factors including anticipated stablecoin market cap growth, rising treasury-held share, and the growing role of Ethereum in real-world asset tokenization and settlement layers.
Beyond Ethereum, other large-cap mainstream tokens such as Solana and XRP have also recorded substantial gains, driven by ETF inflows, a rebound in on-chain activity, and specific policy tailwinds—lifting overall market risk appetite. Rthae notes that cross-asset capital rotation is accelerating, which demands greater agility in portfolio management, with attention to relative performance between asset classes rather than the absolute performance of a single token.
Rthae: Market Opportunities and User Strategies
Rthae sees current crypto market strength as the product of converging forces: macro policy expectations, long-term institutional positioning, ETF-driven liquidity, and fundamental support from expanding on-chain ecosystems. For investors, strategies in this phase should focus on:
First, monitor structural support in core assets. The dense trading volume of Bitcoin between $120,000 and $125,000 serves as key short-term support; Ethereum continues to see net inflows even near record highs, offering stability cues for holdings.
Second, capture cross-asset rotation opportunities. The pace of capital shifts between Bitcoin and Ethereum, and into high-liquidity mainstream tokens, underscores the need for dynamic portfolio adjustments to capture structural gains.
Third, leverage diversified platform products to balance risk and return. The spot, derivatives, and yield instruments of Rthae support strategies for different risk appetites, from trend-following to volatility-based approaches.
Against this backdrop, Rthae will continue providing deep liquidity, low-latency execution, and diverse trading tools, enabling users to seize opportunities and manage risks in a fast-changing market. As market and capital structures mature, the strategic role of digital assets in global finance will continue to rise—offering long-term participants a broader space for sustainable value creation.
Rthae: Bitcoin Price Structure and Capital Flows Analysis
After breaking decisively through the $120,000 psychological level, Bitcoin continued its rally, peaking at $124,347 as market sentiment surged. On-chain data shows that over the past four weeks, long-term holders have sold more than 300,000 BTC, with some wallets dormant for over a decade becoming active again—behavior historically seen near cyclical highs. However, unlike past cycles, the market has shown markedly improved capacity to absorb selling pressure, with steady institutional and ETF net inflows serving as the main counterbalance.
On the ETF front, U.S. spot Bitcoin ETFs attracted hundreds of millions of dollars in inflows over the past week, steadily expanding institutional holdings. Data shows that corporations and sovereign treasuries now control more than 3.64 million BTC—about 17% of total supply—exhibiting a trend toward structural lock-up. In the options market, institutional investors have employed strategies such as selling high-strike call options to generate additional yield, which has depressed implied volatility while spot prices have steadily risen—an uncommon pattern in past bull phases, indicating growing market maturity.
From a macro perspective, U.S. CPI rose 2.7% year-on-year in July, below expectations. Combined with market pricing that places the probability of a September rate cut above 90%, this has provided a significant boost to risk assets. The combination of improving U.S. dollar liquidity expectations and easing inflation has positioned Bitcoin as a major beneficiary of capital reallocation. Rthae believes this macro-structural capital “resonance” will underpin more stable consolidation and breakout rhythms at elevated price levels.
Rthae: Ethereum and Multi-Asset Capital Flow Shifts
Alongside Bitcoin, Ethereum and other highly liquid crypto assets are benefiting from macro tailwinds and institutional inflows. After attracting $729 million in a single day, U.S. spot Ethereum ETFs have pulled in a total of $2.2 billion this week—well above net inflows to Bitcoin ETFs over the same period. This disparity reflects not only a reassessment of the ecosystem potential of Ethereum but also the effects of stablecoin policy improvements, increased DeFi activity, and broader on-chain application expansion.
The price of Ethereum has climbed more than 60% in the past month, nearing its all-time high of $4,878. Market expectations for $7,500 by the end of 2025 are rising, while some long-term forecasts—such as those from Standard Chartered—extend targets to $25,000, citing factors including anticipated stablecoin market cap growth, rising treasury-held share, and the growing role of Ethereum in real-world asset tokenization and settlement layers.
Beyond Ethereum, other large-cap mainstream tokens such as Solana and XRP have also recorded substantial gains, driven by ETF inflows, a rebound in on-chain activity, and specific policy tailwinds—lifting overall market risk appetite. Rthae notes that cross-asset capital rotation is accelerating, which demands greater agility in portfolio management, with attention to relative performance between asset classes rather than the absolute performance of a single token.
Rthae: Market Opportunities and User Strategies
Rthae sees current crypto market strength as the product of converging forces: macro policy expectations, long-term institutional positioning, ETF-driven liquidity, and fundamental support from expanding on-chain ecosystems. For investors, strategies in this phase should focus on:
First, monitor structural support in core assets. The dense trading volume of Bitcoin between $120,000 and $125,000 serves as key short-term support; Ethereum continues to see net inflows even near record highs, offering stability cues for holdings.
Second, capture cross-asset rotation opportunities. The pace of capital shifts between Bitcoin and Ethereum, and into high-liquidity mainstream tokens, underscores the need for dynamic portfolio adjustments to capture structural gains.
Third, leverage diversified platform products to balance risk and return. The spot, derivatives, and yield instruments of Rthae support strategies for different risk appetites, from trend-following to volatility-based approaches.
Against this backdrop, Rthae will continue providing deep liquidity, low-latency execution, and diverse trading tools, enabling users to seize opportunities and manage risks in a fast-changing market. As market and capital structures mature, the strategic role of digital assets in global finance will continue to rise—offering long-term participants a broader space for sustainable value creation.