August was a month of respite and selection: after the mid-month peak, Bitcoin retraced to key supports, while Ethereum catalyzed institutional interest with robust inflows into ETFs.
The sentiment has shifted from euphoria to neutral-cautious: no widespread panic, but a tendency to “buy the dips” only at clear technical levels. The underlying narrative remains that of a mature bull market, more selective and tied to macro drivers (rates, dollar, liquidity).
At the end of the month, BTC is moving around ~108–112k $, with compressed volatility after the slide from the August top; ETH consolidates above ~4.3k $, following sustained institutional flows.
Summary
2) Markets and Prices
Bitcoin (BTC)
- August trend: peak over $124k mid-month, followed by correction and closing in the $108–112k area. The market perceived the break of the highs as “exuberance,” with profit-taking and a return to supports.
- Key levels: resistances at $114–120k; supports at $111.5k and psychological $100k (a potential loss would open up space for more pronounced volatility).
- Technical narrative: some desks warn of the risk of a deeper correction if supports give way, but the medium-term context remains constructive as long as BTC defends the triple-digit level.
Ethereum (ETH)
- Relative strength: ETH was the institutional protagonist of the month. Spot ETFs on Ethereum recorded significant inflows/net inflows in August; various sources report AUM and flows in strong growth (estimated +44% for the month; weekly fundraising records).
- Price: area ~4.3–4.4k $ at the end of the month after a marginal intramonth ATH, with a high consolidation technical structure.
- Driver: institutional demand (ETF), staking yield, and ongoing L2 scalability narrative.
Altcoin: top mover
- Gainers/Laggard (intramonth snapshot): the rotation was swift. Weeks featuring CRO, PYTH, and other mid-caps in the spotlight, alternating with risk-off phases where high-beta tokens suffered. (Note: the selection of altcoins should be managed tactically, following volumes and unlock calendar).
- Macro correlations: BTC has danced with the US stock market (risk-on/off) and with the expected trajectory of interest rates. The divergence with gold remains evident: metal at new highs, BTC more nervous on supports/ETF flow.
3) DeFi & NFT
DeFi
- August thesis: more capital and more institutional presence around ETH → impacts on staking and L2-friendly protocols. The metrics on global TVL have held up despite local exploit episodes; the end-of-month snapshot remains one of selective growth driven by products with sustainable yield and the improvement of interop between chains.
- Recurring risks: exploits on emerging protocols and meme-driven launchpads. In August, there were targeted attacks on liquidity/price manipulation; reminder: security-first, audits, and exposure limits on new/illiquid dApps.
NFT & collectibles
- Volumes: a more subdued market, with multi-chain rotations (Ethereum, Polygon, Base, Mythos). The focus shifts to NFTs with utility (game items, “phygital” assets, experiences), while blue chips fluctuate with low liquidity but floor defense by diamond hands.
- Gaming x NFT: concrete signals from the in-game items side: vertical marketplaces continue to drive transactions, bringing in new users through the gaming funnel rather than pure speculation.
4) Memecoin & Community trend
- Institutional Dogecoin: The news of the month in the meme sector is the creation of a $200M special-purpose vehicle to hold DOGE in treasury, chaired by Elon Musk’s lawyer, Alex Spiro. This is a sign that treasury vehicles are beginning to reach the meme universe, offering equity-like exposure to traditional investors. The price has reclaimed ~0.22 $ with institutional accumulation (≈680M DOGE) highlighted in short-term technical analysis.
- New “degen” wave: presale and fair launch continue to alternate +100% in hours to -50% in days. Momentum-only tactic, reduced size, tight take profits: the community moves in “waves” on tickers themed around macro-culture and internet nostalgia. (We reiterate the extreme risks: thin liquidity, smart contract risk, MEV, and rug-pull.)
5) Regulations & Institutional
- Ripple vs SEC: the long dispute comes to a close
The Court has dismissed the appeals and made the decision final: XRP traded on secondary exchanges is not a “security”, while institutional sales will be subject to SEC registrations/rules. A $125M penalty and the enforcement/adaptation phase begins. It is a significant precedent for the US industry: clarity on the secondary market, uncertainty only on the primary institutional offering. - ETF & corporate treasuries
In addition to the ETH-ETF theme, publicly traded companies and treasury vehicles are accumulating crypto assets (especially BTC), reducing the supply on exchanges and tightening the supply side. Analysts explicitly speak of a “supply crunch” driven by public entities and macro-friendly policy. - Macro driver
With Jackson Hole behind us and attention on the September FOMC, desks are reading the upcoming inflation/employment data as market-moving for risk assets (including crypto). In August, with US stock markets faltering and gold strong, BTC defended supports but without a breakout.
6) Tech & Innovation
- Ethereum & L2: the upgrade pipeline (e.g., focus on EIP-4844 and L2 cost reduction) continues to fuel the “app layer” thesis on Base/OP/Arbitrum, with social/gaming dApps expanding.
- Enterprise chain & tokenization: 2025 is accelerating on enterprise ledgers and tokenization (indices, real-world assets). Big Tech and market operators are pushing pilots for 24/7 settlement and collateral.
- AI x Crypto: growth of AI tokens and decentralized computing/data services; venture capital flows remain lively, but with higher selectivity. (Thesis 2025–2026: AI agents pay/set on-chain, datasets become assets with tokenized economic rights.)
7) The 5 Most Impactful News of August (Explained Simply)
- BTC: from the top to the support test
- ATH intra-month >124k $, then return to the ~108–112k $ zone. Message to the market: long-term trend intact, but breakout requires new inflows.
- ATH intra-month >124k $, then return to the ~108–112k $ zone. Message to the market: long-term trend intact, but breakout requires new inflows.
- ETH: record inflows in ETFs
- Strong growth in fundraising (estimates +44% on a monthly basis; weekly records), AUM and volumes progressing. The thesis of “ETH as an institutional asset” is consolidating.
- Strong growth in fundraising (estimates +44% on a monthly basis; weekly records), AUM and volumes progressing. The thesis of “ETH as an institutional asset” is consolidating.
- Ripple–SEC: chapter closed
- Dismissal of appeals: XRP not a security in the secondary market; $125M fine; green light for a new season of case-law driven regulatory clarity.
- Dismissal of appeals: XRP not a security in the secondary market; $125M fine; green light for a new season of case-law driven regulatory clarity.
- Dogecoin and the $200M “treasury”
- The ultimate meme enters the corporate perimeter with a special purpose vehicle chaired by Musk’s lawyer. DOGE returns to ~0.22 $ with signs of accumulation.
- The ultimate meme enters the corporate perimeter with a special purpose vehicle chaired by Musk’s lawyer. DOGE returns to ~0.22 $ with signs of accumulation.
- Supply crunch from corporate & public companies
- Over 150 publicly traded companies now hold ~1M BTC: the circulating scarcity is being felt, especially during drawdowns where the “sellable” supply is low.
- Over 150 publicly traded companies now hold ~1M BTC: the circulating scarcity is being felt, especially during drawdowns where the “sellable” supply is low.
8) September 2025 Outlook: Scenarios, Opportunities, Risks
What to Watch (Macro & Flows)
- FOMC & CPI: if the market interprets the Fed as dovish (or CPI below expectations), risk-on likely on crypto; conversely, strong dollar = pressure on BTC/alt.
- ETF flow: monitor net flows on BTC/ETH ETFs and rotations between sector equity ETFs vs crypto.
- Treasury/Corporate: the moves of treasury vehicles and public companies are crucial for the supply narrative.
Technical Levels and Tactics
- BTC: defense at $111.5k; above $114–120k the path to retesting the highs reopens. Below $100k, stricter risk control would be triggered.
- ETH: 4k $ as a psychological watershed; above 4.5–5k $ a new trend leg. ETF flows as a leading indicator.
Where opportunities may exist (not financial advice)
- ETH & L2 quality: if the flows on ETFs continue, it is reasonable to expect benefits on L2 ecosystems and core protocols.
- BTC “buy-the-dip” disciplined: drawdown towards psychological areas could offer entry points for those considering Q4–Q1 horizons, with risk management and progressive take profits.
- AI x Crypto / Gaming: release of real products = volume and users. Focus on useful NFT items and use cases from off-chain to on-chain.
Main Risks
- Extended technical correction on BTC (break of supports) → altcoin beta suffer more.
- Security/Exploit DeFi: recurring risk on new/illiquid protocols; diversification and conservative position sizing.
- Regulatory shock: legacy lawsuits on major exchanges and uncertainties about stablecoins can reignite headline-driven volatility.
Key takeaways (1 minute)
- BTC: month of controlled pullback after the intramonth ATH; key to defend 111.5k–100k $ and reclaim 114–120k $.
- ETH: institutional protagonist; strong ETF inflows, yield+scalability narrative attracting “new” capital.
- Regulatory: XRP case closed (secondary “non security”): important precedent for the US market.
- Meme/Community: DOGE becomes a serious topic with a treasury of $200M; however, beware of volatility on new memes.
- September: macro first. Fed/CPI will guide the flows; prepare pro and con scenarios, with clear risk management plans.
Disclaimer
This article is for informational and educational purposes and does not constitute financial advice. Cryptocurrencies are highly volatile assets: always do your own research and assess your risk tolerance before investing.
