Bitcoin Surges Above $118,000

On July 31, Glassnode stated in a post that "The present BTC price remains above the holding cost range of all short-term holder subgroups (ranging from 24 hours to 3 months: $110,000 to $117,000). This price aligns with a low transaction volume range, suggesting that in the event of a pullback, there will be strong support."

July 31st. The market research firm SentimenTrader declared that the U.S. stock market is on the verge of concluding its most heated July ever. During this month, the S&P 500 index has reached a historic high 10 times (making it the third best July performance since 1928), and the Nasdaq Composite index has hit a historic high 14 times. This "super month" is uncommon during the summer, and historical data indicates that after experiencing such a surge in July, August tends to become difficult. Historically, when the S&P 500 index hits at least 7 multi-year highs in July, the likelihood of it rising in August is merely 36%, with a probability of rising in the following two months being less than half. The Nasdaq Composite index has demonstrated greater resilience and usually experiences a strong rebound 4 months later, but August still seems like a gamble. (Jin10)

On July 31st, according to Coinmarketcap data, the Altcoin Season Index has gone up to 41. It had dropped to 35 on July 30th. This index shows that among the top 100 cryptocurrencies by market capitalization, approximately 41 projects have outperformed Bitcoin in terms of price increase over the past 90 days. Note: The CMC Cryptocurrency Altseason Index is a real-time indicator that is designed to determine whether the cryptocurrency market is currently in a season where altcoins dominate. This index is based on the performance of the top 100 altcoins compared to Bitcoin over the past 90 days.

July 31st - The decentralized AI music platform Fireverse, after teasing about the upcoming TGE (Token Generation Event), officially launched its original NFT (Non-Fungible Token) today. This OG NFT is a commemorative badge dedicated to early builders and long-term supporters, with a total supply of 10,000 and is non-transferable. The OG NFT not only symbolizes the important identity of the participants but will also unlock exclusive benefits in the future ecosystem of the platform. This round of OG NFT will be distributed to active users of the Fireverse platform, VBOX holders, FireTrack NFT creators, Nobody NFT holders, Discord contributors. It will also be distributed through whitelist distribution by partners and KOLs (Key Opinion Leaders). Each eligible wallet address can receive up to 1 piece, and the claiming window is from July 30th to August 5th. Unclaimed allocations after the deadline will be available for public claim on a first-come, first-served basis. As Fireverse prep

On July 31st, according to data from strategicethreserve, the total strategic Ethereum (ETH) reserve held by 64 entities has exceeded $10 billion and reached $10.57 billion. Among them: Bitmine Immersion Tech (BMNR) is in the first place, currently holding 625,000 ETH, with a value of approximately $24.1 billion; SharpLink Gaming (SBET) is in the second place, currently holding 438,200 ETH, with a value of approximately $16.9 billion; The Ethereum Foundation is in the third place, holding 234,600 ETH, with a value of approximately $9.042 billion.

On July 31st, Bitcoin.com issued a Cryptocurrency Derivatives Market Analysis Report titled "Crypto Derivatives 101". This report systematically examines key products like futures, perpetual contracts, options, etc., and offers a comprehensive comparison of the advantages of centralized exchanges (CEX) and decentralized exchanges (DEX) in terms of liquidity, slippage, fees, risk management, and asset custody. The report indicates that Binance, Bitget, and OKX are rated as the platforms with the most institutional trading advantages, while GMX and Hyperliquid provide higher transparency and self-custody capabilities for DeFi native users. The report's data reveals that Bitget has surged and is expected to become the world's third-largest derivatives exchange by 2025. Its market share has increased from 4.6% at the beginning of the year to 7.2%. In April alone, Bitget's futures trading volume reached $920 billion, demonstrating leading liquidity and market depth in multiple core trading