This Week in Crypto, Full Written Summary: W3 August
Bitcoin’s new all-time high has captured the market’s attention, but on-chain data reveals a complex and risky picture beneath the surface. For those short on time, here are the key takeaways from this week’s analysis:
- A Weak Foundation: Bitcoin’s record-breaking price was accompanied by declining on-chain transaction volume, creating a significant bearish divergence that questions the rally’s strength.
- Whales vs. Retail: While large “whale” wallets continue to accumulate Bitcoin (a bullish sign), a surge in new, small wallets indicates widespread retail FOMO—a classic warning signal for a market top.
- Ethereum’s Overheating: Key metrics show Ethereum is in a far riskier position than Bitcoin, with trader…
