From July 15 to July 28, 2025, the crypto market maintained a moderately bullish trend. BTC consolidated at high levels with a stable structure, while ETH steadily climbed toward the 4,000 USDT mark, showing relatively stronger short-term performance. In terms of volatility, BTC remained stable, whereas ETH saw increased fluctuations, reflecting rising market divergence. Long-short ratios and funding rates retreated to a neutral-to-cautious range, while open interest stayed elevated, with ETH showing more significant growth in leveraged positions. The liquidation structure remained orderly, with a notable long-side flush of $630 million on July 23, indicating healthy risk cleansing at higher levels. On the quant side, the MACD trend strategy delivered over 150% returns on SUI, demonstrating strong short-term trading potential.
Key Takeaways:
- BTC consolidates at highs while ETH trends upward: Over the past two weeks, BTC has repeatedly stalled near the 119,000 USDT level, maintaining a stable structure but with weakening momentum. In contrast, ETH has steadily climbed along short-term moving averages, approaching the 4,000 USDT mark, showing stronger short-term performance and gradually recovering market confidence.
- Divergence in volatility, rising emotional swings in ETH: BTC volatility remains stable, reflecting clear expectations from market participants. Meanwhile, ETH has experienced frequent spikes in volatility, indicating greater short-term uncertainty and a more speculative trading tone.
- LSR and funding rates weaken, sentiment remains cautious: Both BTC and ETH long-short ratios have declined since mid-July, and funding rates have hovered near the neutral line, suggesting limited willingness to chase prices and a lack of aggressive leverage deployment.
- Mild liquidation structure, long-side pressure concentrated: Overall liquidation activity remains moderate. Notably, long liquidations surged to $630 million on July 23, marking a high-level flush to release short-term pressure, while short liquidations were mainly concentrated on July 18.
- MACD trend strategy proves robust with short- to mid-term potential: Backtest results show that the MACD-based trend strategy performed well on SUI and other major tokens, delivering cumulative returns of over 150%. Despite a relatively low win rate, the strategy effectively controls risk through momentum-based signals and stop-loss discipline, demonstrating strong trend capture capability and tactical reliability.
Discover more details today → Gate Research: ETH Nearing Key Resistance, MACD Trend Strategy Achieves 150%+ Return
Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.
Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.
Gate Team
August 1, 2025
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