Today's Key News Summary

1. Funding Aspect: Bitcoin ETF experiences net outflows for three consecutive days, institutional buying momentum continues to weaken
As of August 14, Eastern Time, the U.S. Bitcoin spot ETF has recorded net outflows for three consecutive trading days, with a single-day total net outflow of approximately $57.63 million. Among these, BlackRock's IBIT product saw an outflow of $55.51 million (approximately 883 BTC), accounting for the vast majority of the outflow; Fidelity's FBTC had a simultaneous outflow of $6.84 million, with only a few products like Bitwise recording small inflows. The Ethereum spot ETF saw funding inflows and outflows roughly balanced on the same day, indicating overall weak institutional risk appetite.
On-chain data similarly shows that the proportion of the BTC supply in profit has dropped to 51.4%, marking a multi-year low, reflecting widespread unrealized losses in the market and a fragile holding structure.

2. Regulatory Aspect: SEC cancels key meeting + delays tokenization exemption, expectations for regulatory benefits cool down
The U.S. Securities and Exchange Commission (SEC) announced the cancellation of the core crypto regulatory meeting scheduled for August 14, and also delayed the tokenized asset innovation exemption plan, further postponing the timeline for regulatory framework implementation. Market expectations for short-term regulatory benefits continue to cool, with insufficient willingness for incremental capital to enter the market, becoming an important fundamental factor suppressing the rebound in the market.

3. Sentiment and Liquidity: Extremely thin trading on Sunday, volatility window gradually approaching
Market liquidity significantly decreased on Sunday, with overall derivatives trading volume dropping approximately 40% compared to mid-week, as both bulls and bears remained on the sidelines. The 4-hour Bollinger Bands are continuously narrowing, with volatility compressed to recent lows, and the technical landscape is indicating an approaching volatility window. The crypto fear and greed index has maintained around 30 in the fear range, indicating an overall cautious market sentiment, but selling pressure is gradually diminishing.

4. Industry Dynamics: MicroStrategy's reduction impact being digested, long-term narrative still shows divergence
Strategy (formerly MicroStrategy)'s earlier reduction of 1,690 BTC has been gradually digested by the market, with founder Michael Saylor simultaneously publishing an article emphasizing Bitcoin's long-term store of value attributes, attempting to stabilize the confidence of long-term holders. However, the market's response has been generally muted, showing that the current price trend is more driven by macro liquidity and funding aspects, with a single narrative struggling to drive a trend-driven market.

III. Mainstream Coins Daily Strategy and Entry Points Reference
The following is a summary of technical analysis, solely for market viewpoint reference, and does not constitute any trading advice.

1. Bitcoin (BTC)
Market Characterization: The 4-hour level is maintaining a trading range of $62,500-$64,200, with the Bollinger Bands consistently narrowing and volatility compressed to recent lows, indicating an approaching volatility window; short-term moving averages are entwined, with both bullish and bearish forces balanced. $63,000 is the dividing line for bulls and bears for the day, with the strategy of taking profits at the top and buying at the bottom in the range before a breakout of the trading box.

• Key Support:
◦ First Support: $62,600 – $62,800 (short-term support level for the day, lower edge of the range)
◦ Strong Support: $62,000 – $62,200 (dividing line for bulls and bears; breaking below returns to weak position)

• Key Resistance:
◦ First Resistance: $63,600 – $63,800 (mid-range pressure area of the trading box)
◦ Strong Resistance: $64,100 – $64,300 (upper edge of the box + previous high transaction area)

• Reference Strategy:
◦ If the price stabilizes at $62,600–$62,800, a light long position can be taken, with stop-loss set below $62,200
◦ If it rebounds to $63,700–$63,900 and meets resistance, consider a short position, with stop-loss set above $64,300

◦ Given the poor liquidity on Sunday, avoid chasing rallies or dips; focus on quick entries and exits within the range and only follow through after a valid breakout of the trading box.

2. Ethereum (ETH)
Market Characterization: The 4-hour level is narrowly oscillating around the Fibonacci key level of $1,870, with the Bollinger Bands extremely narrowed and forces balanced; $1,850-$1,860 serves as strong support below, while the $1,900 whole number serves as short-term pressure, with overall movement highly correlated with Bitcoin, lacking independent driving force.

• Key Support:
◦ First Support: $1,860 – $1,865 (short-term support level for the day)
◦ Strong Support: $1,840 – $1,850 (dividing line for bulls and bears; breaking below slows rebound momentum)

• Key Resistance:
◦ First Resistance: $1,895 – $1,905 (whole number + short-term pressure point)
◦ Strong Resistance: $1,925 – $1,935 (100-day moving average pressure)

• Reference Strategy:
◦ If the price stabilizes at the $1,855–$1,865 range, a light long position can be taken, with stop-loss set below $1,840
◦ If it rebounds to the $1,895–$1,905 range and meets resistance, consider a short position, with stop-loss set above $1,920

◦ If it effectively maintains above $1,905 on volume, it can be viewed favorably towards around $1,930; if it falls below $1,840, take a wait-and-see approach.

3. Solana (SOL)

Market Characterization: Accompanying the general market's horizontal consolidation, price moves between short-term moving averages, with relatively balanced forces; around $75 is the central point of daily oscillation, with strong support at $73.5 below and mid-term pressure at $77 above, generally lacking independent catalysts and heavily dependent on market movement.

• Key Support:
◦ First Support: $74.5 – $74.8 (short-term support level for the day)
◦ Strong Support: $73.2 – $73.5 (dividing line for bulls and bears; breaking below returns to weak position)

• Key Resistance:
◦ First Resistance: $76.0 – $76.3 (pressure level for daily rebounds)
◦ Strong Resistance: $77.0 – $77.5 (previous high transaction area)

• Reference Strategy:
◦ If the price stabilizes at the $74.3–$74.7 range, a light long position can be taken, with stop-loss set below $73.5
◦ If it rebounds to the $76.0–$76.5 range and meets resistance, consider a short position, with stop-loss set above $77.2

◦ If it falls below $73.2, it is advisable to avoid further engagement, and follow through after a breakout above $77.
Operational Reminders

1. Given the thin liquidity in the market on Sunday, there can easily be extreme spikes, and there may be directional risks at tomorrow's opening. It is recommended to operate with very light positions and strict stop-losses, and to avoid holding positions overnight as much as possible.
2. Core variables to observe throughout the day: Dollar index trends, pre-market risk appetite in U.S. stocks, and potential regulatory and industry news over the weekend.

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