Bitcoin defends US$115K as Ethereum tops US$3B ETF inflows

TLDR

• Bitcoin consolidates above US$115K after last week’s all-time high, with support holding firm
• Softer US inflation keeps September Fed cut hopes alive, though hotter PPI clouds outlook
• Ethereum trades above US$4.5K with strong August ETF inflows and whale accumulation
• Crypto ETFs hit record US$40B weekly volumes, with DOGE and SOL filings under review
• Ripple v SEC lawsuit nears resolution as dismissal of appeals awaits court approval

Crypto markets consolidated after last week’s highs. Bitcoin eased from recent peaks but held firm as buyers defended support. Ethereum outperformed, buoyed by ETF inflows and whale accumulation. Ripple edged closer to closing its SEC case, while broader sentiment was shaped by record ETF volumes and shifting macro signals.

The weekly trading stats as of Monday, August 18th at 10:00 AM AEST, based on data from TradingView in USD.

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Bitcoin consolidates above US$115K after last week’s all-time high, with support holding firm

Bitcoin pulled back from its peak near US$124.5K and closed the week at US$117.4K. The US$115K zone acted as strong support and kept the broader uptrend intact. BTC continues to trade between US$116K and US$117K.

The daily chart shows price holding above the 50-day moving average near US$115.5K and the 200-day moving average near US$100.3K. The daily RSI sits close to 50 and signals neutral momentum after weeks of steady gains.

On the 4-hour chart, RSI has eased into the low 40s and reflects short-term selling pressure. Resistance sits at US$119K–US$120K. A break below the 50-day moving average could expose support near US$111K. Price action points to consolidation inside a longer-term bullish structure.

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Softer US inflation keeps September Fed cut hopes alive, though hotter PPI clouds outlook

While Bitcoin held support, broader sentiment shifted on mixed global data. In the United States, July CPI rose 2.7% year-on-year and confirmed that disinflation remains on track. Producer prices told a different story with a 0.9% month-on-month jump that fuelled debate on how deep a September Fed cut might be. Retail sales surprised to the upside with a 0.5% monthly increase while consumer sentiment weakened.

In Europe, the ZEW survey of German expectations fell to 34.7 and industrial production dropped 1.3% year-on-year. The numbers signalled a loss of momentum across the region. China also posted softer results with industrial output up 5.7% year-on-year and retail sales growing 3.7% year-on-year. Both fell short of previous levels. Japan delivered stronger news with second-quarter GDP expanding 0.3% quarter-on-quarter and lent support to gradual BoJ policy normalisation.

In Australia, the RBA cut rates by 25 basis points to 3.60% on 12 August. Unemployment rose to 4.2% later in the week. Global yields remain stable and central banks continue to lean on dovish signals. The mix supports risk appetite and liquidity across crypto markets.

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Ethereum trades above US$4.5K with strong August ETF inflows and whale accumulation

Among major assets, Ethereum led the gains and traded above US$4,500 after peaking near US$4.79K. Institutional interest drove much of the move. ETH ETFs recorded more than US$3B in August inflows, underscoring sustained demand.

Whale activity added extra fuel to the rally. BitMine Immersion Technologies disclosed a purchase of 106,485 ETH during the week. Analysts have also raised long-term forecasts into a range of US$7,500 to US$25,000. The price has held above US$4,400 and continues to show relative strength against BTC, reinforcing Ethereum’s role as the leading alternative major during periods of market rotation.

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Crypto ETFs hit record US$40B weekly volumes, with DOGE and SOL filings under review

ETF activity reflected that same momentum. Weekly trading volumes surged to US$40B, the highest on record. Bitcoin ETFs saw cumulative net flows climb to US$36.3B, but the week closed with US$195.6M in outflows. A late-session inflow of US$22.1M showed that institutional demand remains present despite tactical selling. Ethereum ETFs contributed US$17B to weekly volumes and reinforced its position as the second-largest segment of the market.

Product expansion also continued. Grayscale applied to convert its Dogecoin Trust into an ETF. The SEC is also reviewing several Solana Foundation ETF applications. These filings highlight growing institutional appetite beyond Bitcoin and Ethereum as investors look for diversified exposure.

Ripple v SEC lawsuit nears resolution as dismissal of appeals awaits court approval

After years of legal wrangling, Ripple Labs and the SEC have agreed to dismiss their appeals. The joint filing still requires court approval but once accepted it would close one of crypto’s longest-running disputes. Ripple will be required to pay a US$125M penalty, while XRP itself is not classified as a security. The outcome would remove a major regulatory overhang and strengthen the case for XRP adoption in cross-border payments and institutional finance.

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Closing thoughts

Markets remain finely balanced between macro risks and renewed risk appetite. ETF flows are the key sentiment driver, with traders watching whether Bitcoin can maintain its base and if Ethereum can sustain leadership among altcoins. Volatility is likely to persist as economic data, central bank signals, and technical levels converge.

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