Bitcoin Demand Cools Whereas “Crypto Capital is Getting Extra Selective,” OKX’s Gracie Lin Warns

Good Morning, Asia. Here is what’s making information within the markets:

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Bitcoin steadied in Asia Thursday at $114,610 (+1.4%), clawing again some floor after final week’s slide, whereas ether outpaced with a 5.8% leap to $4,370.73 as buyers rotated selectively throughout the market.

The CoinDesk 20, a measure of the efficiency of the biggest crypto property, is up 3.5%, buying and selling above 4,078.

OKX Singapore CEO Gracie Lin mentioned in a notice to CoinDesk that the rising ETH/BTC ratio reveals capital shifting into ether’s relative power whereas Bitcoin consolidates.

“Crypto capital is getting extra selective,” Lin instructed CoinDesk.

She careworn that this isn’t a broad “altseason,” however a focused transfer into ETH as macro catalysts just like the Jackson Gap convention and U.S. inflation information loom.

Contemporary figures from CryptoQuant underline why Bitcoin’s rally has cooled. Obvious demand has dropped from 174,000 BTC in July to 59,000 BTC right now, whereas ETF inflows have slowed to their weakest since April,” the agency wrote in a latest report.

Revenue-taking stays heavy, with whales realizing $2 billion in beneficial properties on Aug. 16 alone, bringing complete realized income since July to $74 billion. CryptoQuant analysts now classify the market as in a “bullish cooldown” part, with $110,000 flagged as an vital help degree.

In a notice to CoinDesk, analysts at Enflux, a Singapore-based market maker famous that retail enthusiasm for altseason has dropped sharply in comparison with final week, whilst strategic bets like BNB hitting all-time highs and Hyperliquid’s operational power proceed to attract capital.

“This means that the altcoin market is now not a uniform beta commerce, as macro conviction is forming, however extra selective and concentrated, additionally on the institutional facet,” the agency mentioned.

The result’s a market much less outlined by broad rallies and extra by selective winners, with ETH setting the tone as capital stays in crypto however strikes with sharper focus, favoring resilience over hypothesis.

Market Movers

BTC: Bitcoin edged up 1.4% to only above $114,000 whereas U.S. shares slipped, and altcoins confirmed uncommon resilience as BTC dominance nears a six-month low.

ETH: Ether outperformed bitcoin, climbing 5.8% as merchants rotated into majors regardless of slowing BTC demand.

Gold: UBS raised its gold worth goal to $3,600 per ounce in Q1 2026, citing the strongest bullion demand since 2011 pushed by U.S. macro dangers, de-dollarization, and heavy ETF and central financial institution shopping for.

S&P 500: The Nasdaq fell 0.68% and the S&P 500 slipped 0.26% Wednesday as buyers rotated out of tech shares into sectors like vitality, healthcare, and client staples forward of the Fed’s Jackson Gap symposium.

Elsewhere in Crypto

• Winklevoss Twins Heave $21M Towards Republicans in Subsequent 12 months’s Congressional Battles (CoinDesk)
• Crypto companies urge UK to kind nationwide stablecoin technique to keep away from falling behind U.S. (CNBC)
• BitMEX Founder, Pardoned by Trump, Joins Longevity-Hacking Craze (Bloomberg)