August 3 Cryptocurrency Update: Bitcoin and Ethereum in a Wait-and-See Mode After FOMC Meeting

Crypto analysis firm CryptoQuant released its latest analysis report on the cryptocurrency market on July 29.

FOMC Keeps Interest Rates Steady Amid Market Caution
On July 29, the U.S. Federal Reserve (FRB) decided to maintain the federal funds rate at 3.50% to 3.75% during the Federal Open Market Committee (FOMC) meeting.

The voting results were 9 to 3, with three members advocating for a rate hike. While economic activity continues to expand steadily, inflation remains elevated compared to the 2% target.

In light of this macroeconomic backdrop, the cryptocurrency market is currently lacking clear catalysts for active trading.

According to CryptoQuant's analysis, ahead of the policy decision, the derivative positions for Bitcoin (BTC) and Ethereum (ETH) were relatively neutral.

Traders are avoiding trades with strong directional bias and are reducing their exposure to the market.

The buy-sell balance for Bitcoin has shifted from a slight buying surplus to neutral. The FRB's statement emphasized the stability of the labor market and the persistent inflation due to energy supply shocks.

With no immediate changes to monetary policy, a wait-and-see attitude has strengthened across all risk assets.

Trends in the Derivative Market and Exchange Inflows
In the Ethereum derivative market, a reduction in positions and a shift to a neutral state have also been observed.

While there are movements to take profits, there has not been a panic sell-off across the market. Traders in perpetual futures are securing profits at recent price levels, and the funding rate is maintaining a slight buying surplus.

Inflows to exchanges remain at a low level. The inflow for Bitcoin was approximately 7,400 BTC, while Ethereum saw about 274,000 ETH.

These figures are near the lower end of the volatility range for 2026, indicating that holders are not in a rush to sell.

Short positions in Bitcoin are slightly dominant, but there is no strong bearish conviction that would signal a decisive sell-off.

The net inflow for U.S. spot Ethereum ETFs dropped to its lowest level in July, highlighting a suppression of demand from institutional investors.

Overall, various data suggest that while the current market has a balanced buy-sell dynamic, it continues to lack a clear direction.

Bitcoin Layer 2 Gains Attention
As the overall market adopts a wait-and-see stance, investors are already looking towards the next growth areas. A major focus is currently on the Bitcoin Layer 2 network, BitcoinHyper (HYPER).

Bitcoin Hyper is expected to be an innovative project that achieves faster transactions and lower costs by integrating Solana's virtual machine while leveraging Bitcoin's robust security.

The ongoing cryptocurrency presale has already raised over $32 million, with more than 1.3 billion tokens staked, garnering enthusiastic support from investors.

The mainnet launch and exchange listing are scheduled for 2026, and many experts point out that early participation during the presale phase could lead to significant future returns.

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