SwapSpace Weekly Recap: Bitcoin, Ethereum, and token unlocks shaking markets

The crypto market last week was marked by cautious trading amid macroeconomic headwinds, with Bitcoin slipping below $113K and Ethereum consolidating near $4,900. Institutional moves and ongoing token unlocks kept volatility elevated, while upcoming conferences promise fresh momentum. Read SwapSpace's weekly recap to learn more.

Last week's highlights

• Bitcoin dips below $109K as market sentiment softens

Bitcoin struggled to hold above $109,000, retreating from earlier gains following profit-taking and a significant whale sell-off. This put pressure on the broader market, triggering approximately $900 million in liquidations and stirring renewed debate on Bitcoin’s immediate support levels.

• Ethereum steadies near $4,600, outperforms on staked assets

Ethereum maintained strength relative to Bitcoin, buoyed by growing staking rates nearing 30% and solid institutional demand. Its price consolidation reflects investor confidence in ongoing DeFi growth and Layer 2 scalability solutions showcased in recent events like Ethereum NYC and ETHGlobal.

• Token unlocks continue to impact specific projects

This week saw over $78 million in coin unlocks, notably $SVL with over 35 million tokens and $JUP unlocking 26 million tokens. These releases added supply pressure, influencing short-term price swings within these projects.

• Macro data and ETF flows influence volatility

Markets remained sensitive to U.S. economic releases, with Core PCE and GDP data narrowly watched for clues on Federal Reserve policy. Meanwhile, ETF inflows to Ethereum and Bitcoin hinted at underlying institutional interest despite choppy price action.

Last week’s stats

Top gainers

• Cronos (CRO) – 81.21%
• Pyth Network (PYTH) – 43.90%
• BUILDon (B) – 35.25%

Top losers

• Pendle (PENDLE) – 24.08%
• Aerodrome Finance (AERO) –20.44%
• Lido DAO (LDO) – 19.32%

Key pairs

• BTC/USD: $109.141
• ETH/USD: $4.487
• BTC/ETH: 26.62

What to watch this week?

• September kicks off with major crypto events in Istanbul

Builders Week Istanbul (September 1–7) will bring developers, investors, and partners together for hackathons, workshops, and talks to push blockchain innovation globally. The event's outcomes could spark new project collaborations and boost market interest.

• New token unlocks and market dynamics

Watch for upcoming unlocks on projects like Kamino (KMNO), Venom (VENOM), and AltLayer (ALT) which may drive localized volatility as new supply enters the market.

• Macro data and technical levels

Economic indicators this week, including U.S. employment numbers and inflation reports, will continue to impact crypto risk sentiment. Traders will also watch Bitcoin’s ability to hold $110K and Ethereum’s support near $4,500 to gauge near-term direction.

This week, market dynamics remain shaped by the balance between profit-taking, institutional demand, and upcoming token unlocks. Major assets like Bitcoin, Ethereum, and recently unlocked tokens are available on SwapSpace. For additional insights, explore SwapSpace Academy, whether you are new to crypto or an experienced trader.