Crypto Market Update—BTC & ETH Prove Resilient Against Tariff Volatility; ENA, XLM & INJ Lead the Gainers
After a brief correction, the crypto markets have begun to recover, starting the weekly trade on a bullish note. Although the volume has fallen by more than 22%, the global market capitalization still stands above $3.72 trillion, with BTC market cap alone leading at over $2.27 trillion.
The major tokens like Bitcoin (BTC) and Ethereum (ETH) held their ground despite global macroeconomic pressures and internal volatility. While short-term fluctuations have continued, the broader market has shown signs of stabilization, supported by whale accumulation and key liquidity shifts.
Bitcoin and Ethereum Price Overview
As of today, Bitcoin (BTC) price is trading around $114,400, staying within the $114K–$115K zone after experiencing a minor pullback from last week’s $118K peak. Meanwhile, the Ethereum (ETH) price has hovered near $3,540, holding its gains from a sharp July rally where it rose over 50%.
Despite macro headwinds like global tariff jitters and tightening liquidity, both BTC and ETH have shown strength. Ethereum continues to outperform in momentum, aided by strong spot ETF inflows, growing DeFi activity, and rising stablecoin deployment on the network.
Market Sentiment: Cautious Optimism Prevails
Despite the pullback, SOL remains a key player in institutional interest and NFT activity. Cardano (ADA), currently hovering around $0.41, also faced mild downward pressure, dipping ~3%. Avalanche (AVAX) and Polkadot (DOT) followed similar trends with 3–4% declines.
On the flip side, Toncoin (TON) bucked the trend, gaining over 5% on the day, driven by renewed developer activity and strong network adoption metrics.
Top Gainers
- Ethena (ENA) with an over 11.6% surge
- Stellar (XLM) by 8.97%
- Injective (INJ) by 7.64%
- Memecore (M) by 7.04%
- Algorand (ALGO) by 6.24%
Top Losers
- Pump.fun (PIUMP) by 1.94%
- Pi (PI) by 1.40%
- Toncoin (TON) by 0.74%
- Story (IP) by 0.6%
- Virtual Protocol (VIRTUAL) by 0.6%
Solana (SOL) recorded over $1.1B in daily volume, making it the most active altcoin after BTC and ETH. Dogecoin (DOGE) and Shiba Inu (SHIB) continued to draw retail interest with volumes exceeding $500M, despite trading mostly flat. Pepe (PEPE) saw increased action among memecoins, with volume spiking over $250M, although it ended the day slightly in the red.
Whale Activity & Liquidations Fuel to Ethereum’s Strength
While not the primary driver of price, whale activity has played a supporting role in recent price behavior. In the last 24 hours, large BTC and ETH withdrawals from centralized exchanges suggest accumulation rather than sell pressure.
Highlights:
- Over 486 BTC (~$57M) withdrawn from Kraken to private wallets
- An additional $180M+ in BTC moved off-exchange in multiple tranches
- ETH whales pulled 11,370 ETH ($40M) from exchanges, signaling long-term confidence
- Major USDT transfers: 140M minted by Tether, 250M routed from HTX to Aave—likely for DeFi usage
Derivatives data shows total crypto liquidations of $120M+ over the past day: BTC short positions accounted for ~$80M, indicating a squeeze as Bitcoin held above $114K. ETH long liquidations reached ~$30M, reflecting some over-leveraged positions getting wiped as price consolidated. With most liquidations skewed toward short sellers, the market may be leaning toward a modestly bullish setup, especially if spot demand continues to rise.
Final Thoughts
The crypto market remains cautiously bullish, led by Ethereum’s momentum and supported by healthy exchange outflows. With whale accumulation, rising stablecoin activity, and a dip in short liquidations, the stage could be set for a more aggressive leg up—pending macro stability and policy clarity.