Bitcoin ist kurz davor, die Unterstützung erneut zu testen, die über das Schicksal des aktuellen Bullenmarktes entscheiden wird, so die Analyse. Sind die bullischen RSI-Divergenzen genug, um den Schwung aufrecht zu erhalten?
Ether eyes $4,700 as the $4,250 support holds; Check forecast
Key takeaways
- ETH has bounced back from the $4,250 low and is now trading around $4,470 per coin.
- The coin could rally towards the $4,700 mark soon as bulls intensify recovery efforts.
ETH bounces back above $4,400
The cryptocurrency market closed August bearish as Bitcoin and Ether tested new lows. Bitcoin, the leading cryptocurrency by market cap, tested the $107k low before bouncing back to now trade above $108k.
Ether also dropped to the $4,200 level, finding support around $4,250. It has now recovered nicely and is trading at $4,480 per coin. The bearish performance comes just a few days after Ether hit a new all-time high of $4,953.
With the recent support holding, Ether could rally higher in the short to medium term as analysts predict the coin to hit $6k over the coming weeks or months.
Ethereum targets $4,700 as $4,250 support holds
The ETH/USD 4-hour chart remains bullish and efficient, thanks to Ether recently hitting a new all-time high. ETH failed to maintain its upward momentum and dropped to the $4,200 region over the weekend.
At press time, ETH has recovered slightly and is trading above $4,400 per coin. The RSI of 52 shows that Ether is still in the positive territory, with the MACD lines also suggesting a bullish sentiment.
Closing above the next daily resistance at $4,488 could see Ether target the $4,700 level over the next few hours. An extended bullish run would allow Ether to move past its all-time high of $4,953 and set a new high above $5.
However, if Ether faces a correction and declines below the daily support at $4,232, it could extend the decline to retest the next support and TLQ level at $4k. This level could prove critical as failure to defend it could see ETH test the August low of $3,300.
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Crypto hacks in August hit $163 million as exchange risks grow
- The largest theft was $91.4 million from anonymous Bitcoin addresses.
- Other victims included Odin.fun ($7 million), BetterBank.io ($5 million), and CrediX Finance ($4.5 million).
- Weak audits, human error, and fast platform launches are driving security risks.
The digital asset industry faced another blow in August as hackers stole $163 million across 16 separate incidents, according to blockchain security firm PeckShield.
This was a jump from July’s $142 million, showing how attacks are becoming more frequent and technically advanced.
The largest theft was $91.4 million from multiple anonymous Bitcoin addresses, underlining the vulnerability of individual investors as well as institutions.
Beyond the immediate financial loss, these incidents raise questions about the security of centralised platforms and the long-term impact on investor trust in the wider crypto market, which continues to expand globally.
$54 million BtcTurk hack highlights exchange weaknesses
One of the biggest cases in August was the breach of BtcTurk, Turkey’s leading crypto exchange, which lost $54 million.
This incident was particularly notable because the same platform had already been hit in June 2024 for another $54 million, bringing its total annual losses above $100 million.
BtcTurk confirmed that unauthorised access had been detected, affected wallets were frozen, and investigations with local authorities were underway.
The repeat nature of the attack highlights how centralised exchanges remain a high-value target, with security defences proving inadequate against persistent attackers.
Other platforms lost $17 million in separate cases
While BtcTurk dominated headlines, smaller but still damaging attacks hit other platforms. Odin.fun lost $7 million, BetterBank.io suffered $5 million in losses, and CrediX Finance was drained of $4.5 million.
These examples show how cybercriminals are not only targeting major exchanges but also smaller platforms, often exploiting weak security audits or untested systems.
The cumulative effect of these breaches demonstrates how no level of the crypto ecosystem is safe from exploitation, whether through technical loopholes or basic operational oversights.
Human error and lack of audits fuel rising attacks
PeckShield’s data shows that the crypto sector’s rapid growth is directly linked to the rising number of hacks. New platforms and protocols are often launched quickly without thorough security reviews, giving attackers multiple entry points.
Alongside structural weaknesses, human error continues to play a major role. Users failing to enable two-factor authentication, relying on weak passwords, or falling victim to phishing scams leave both exchanges and personal wallets open to compromise.
The combination of technical flaws and behavioural lapses is creating an environment where cybercrime thrives, forcing exchanges and investors to reconsider their defences.
Regulatory authorities in multiple jurisdictions have noted these trends, pointing to the need for stricter compliance checks.
Bitcoin dips as investor confidence weakens
The impact of these hacks has extended into the wider market. Bitcoin (BTC) slipped 0.29% in the past 24 hours to trade at $108,361.50, with a market capitalisation of $2.15 trillion.
Analysts warn that repeated breaches could slow mainstream adoption, as every incident erodes investor confidence and strengthens the case for stricter regulations to protect consumers and stabilise trading activity.
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Bitcoin ETFs see first-ever outflow of $751 million as Ethereum funds gain $3.9 billion
- Bitcoin ETFs saw a $751 million net outflow in August, a first-ever event.
- Ethereum ETFs absorbed a massive $3.9 billion in net inflows in August.
- BTC’s price has fallen below key short-term holder cost basis levels.
A stunning and unprecedented reversal has rattled the very foundations of the cryptocurrency market.
For the first time since their celebrated launch, the institutional tide that carried Bitcoin to a record high has turned, with spot ETFs bleeding hundreds of millions of dollars in August.
At the same time, a powerful and quiet current of capital has been flowing into Ethereum, signaling a potential changing of the guard and the beginning of a major rotation story that could define the rest of the year.
The scale of the divergence is stark. In August, just weeks after they powered the asset to a 124,000 dollar all-time high, Bitcoin spot funds shed a staggering 751 million dollars in net outflows.
In that same period, Ethereum ETFs quietly absorbed an incredible 3.9 billion dollars, a profound role reversal that suggests institutional investors may be fundamentally rebalancing their crypto exposure.
Bitcoin’s fragile foundation
The pain for Bitcoin is not just in the ETF flow data; it’s etched into the blockchain itself. A recent report from the analytics firm Glassnode paints a picture of a market slipping from euphoria into deep fragility.
The analysis shows Bitcoin’s price has fallen below the cost basis of both 1-month and 3-month holders, a critical development that leaves a huge cohort of recent investors underwater and dramatically increases the risk of a deeper, panic-driven sell-off.
If the price continues to slide below the six-month cost basis near 107,000 dollars, Glassnode warns, it could accelerate losses toward the crucial 93,000 to 95,000 dollar support zone, a dense cluster of accumulation by long-term holders.
Prediction markets are echoing this cautious sentiment.
Traders on Polymarket now assign a 65 percent chance that Bitcoin revisits 100,000 dollars before it retakes 130,000 dollars, a clear sign that the July rally is now seen as overextended and unsustainable without a renewed wave of institutional demand.
Ethereum: the quiet ballast
While Bitcoin falters, Ethereum is emerging as a quiet and powerful source of stability. Its ETF inflows have been remarkably consistent, logging positive net subscriptions in 10 of the last 12 months.
August’s 3.9 billion dollar haul has been the engine behind the token’s impressive 25 percent gain over the past 30 days, a stunning outperformance during a brutal market-wide correction.
The conviction behind Ethereum’s rise is firm. Polymarket traders see over 90 percent odds of the asset holding above 3,800 dollars into early September, and longer-term bets give it a 71 percent chance of finishing 2025 above the coveted 5,000 dollar mark.
As Bitcoin’s institutional tide flows out, Ethereum’s steadier bid is becoming the market’s new anchor. The great rotation may be in its early stages, but the signs are unmistakable.
A new power dynamic is taking shape, and the battle for crypto’s throne is just beginning.
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