While most market participants were resting, the cryptocurrency industry experienced an eventful period. I analyzed the key changes that will set the tone for trading this week. The main takeaway — bullish momentum is returning, but with caveats from institutional players.
Market on the Rise: Numbers and Facts
Bitcoin (BTC) demonstrated impressive momentum, rising 4.13% over the past day. The asset started from the $77,200 mark and stormed toward $81,800, but by morning it settled around $80,895. Ethereum (ETH) is not lagging behind: up 4.33% to $2,506, with an intraday high reaching $2,525.
Altcoins turned green in unison. Among the top 25, leaders included Zcash (ZEC) with a gain of 15.62%, Uniswap (UNI) — 9.99%, and Cardano (ADA) — 6.79%. XRP rose by 5.72%. The only laggard among major assets was Monero (XMR), which lost 2.09%. In the top 100, Pons (PONS) stood out with a 32.16% surge, while Filecoin (FIL) plunged by 5.74%.
Inflows into spot crypto ETFs confirm investor sentiment. Bitcoin funds attracted $730.87 million, while Ethereum funds saw $141.39 million. Products on Solana ($6.40 million) and XRP ($6.14 million) also received solid injections. The Fear and Greed Index jumped to 74 points, corresponding to the greed zone. For comparison: a month ago it was at 27. Such a sharp shift in sentiment forced the liquidation of positions held by 96,304 traders totaling $537.28 million. The main blow hit short sellers — $456.46 million versus $80.82 million for longs.
Polymarket Expands Horizons
The prediction market platform Polymarket launched the Polymarket Perps service. Now users outside the U.S. can trade perpetual contracts with leverage up to 20x on cryptocurrencies, stocks, commodities, and other assets. This is a bold step that blurs the line between predictions and classic trading. The question remains how this will impact the liquidity and volatility of the underlying assets.
Fidelity Warns, IMF Sets the Record Straight
Fidelity analysts cooled the enthusiasm of optimists, stating that the August rally is not a guarantee of the end of the bear cycle. They highlight factors that could reverse the market: exiting the low-volatility period, regulatory shifts (the CLARITY bill, Regulation Crypto Assets rules), and the arrival of institutional money. Some investors, guided by the theory of four-year cycles, expect a bottom in November 2026.
The International Monetary Fund (IMF) officially confirmed: El Salvador has not spent government funds on Bitcoin purchases since June 27, 2025. All accumulated coins came exclusively from private donations. No further purchases from the budget are expected — this is an important signal for those who followed the country's "Bitcoin experiment."
Curve Hands Over the Reins
The Curve DAO community approved funding for the yRisk team, which will take over risk management for crvUSD and the Llamalend protocol. The decision was made almost unanimously: 536.9 million veCRV "for," zero "against." An intriguing detail: both members of yRisk are lead developers of the Resupply protocol, which lost about $9.6 million in a June hack. Curve chose not to emphasize this, raising questions about the due diligence process.
My verdict: The market is in a phase of cautious optimism, supported by ETF inflows. However, Fidelity's warning about the unfinished bear cycle is not just hedging — it is a signal of the fragility of the current growth. I recommend traders not to ignore correction risks and to closely monitor regulatory news from the U.S.