Market Overview
The tape is one-sided going into Saturday. Cryptomat's Sentiment Pulse prints 94, a stable extreme-greed reading, down one point over 24 hours across 148 classified articles. Bullish share sits at 95.3%. Not a single top-40 asset in the sentiment set flipped to bearish overnight.
Cash is confirming the mood. Spot bitcoin ETFs took in $853.54 million for the week ended Aug. 7, their heaviest haul since April, per SoSoValue data cited by CryptoSlate. Combined bitcoin and ether ETFs cleared $1 billion. BlackRock alone booked roughly 80% of the total, a concentration that keeps IBIT the most important single flow gauge in the tape.
The macro backdrop is not clean. US strikes on Iran and Washington's claim of destroying Tehran's nuclear program, both reported by Crypto Briefing overnight, put Strait of Hormuz risk back in the front pages. Turkey framed a new defense pact with Pakistan and Saudi Arabia as an Article 5-equivalent commitment, per Crypto Briefing. Crypto has ignored the headlines. That's the anomaly worth tracking, not the price.
On rates, Wells Fargo chief economist Tom Porcelli told BeInCrypto he expects the Federal Reserve to hold through 2026, pushing back on desks that turned hawkish on the hike side this week. Traders have not fully agreed. Rate uncertainty runs both directions. What holds the risk bid together for now is flow, not conviction on cuts.