Bitcoin, Ether, and Major Altcoins: Weekly Market Update - August 8, 2022

Stay informed about the latest cryptocurrency market trends! This weekly market update for August 8, 2022, provides a concise analysis of Bitcoin (BTC), Ethereum (ETH), and other major altcoins like Avalanche (AVAX).

Bitcoin (BTC) and the "Bear Market Rally"

Bitcoin (BTC) and Ethereum (ETH), the world\'s two most-valued cryptocurrencies, demonstrated relative stability over the weekend. Despite this, analysts are pointing to a "Bear Market Rally is pumping ahead of this week’s CPI report," signaling potential volatility ahead. An accompanying chart showed long signals still characterizing the current market sentiment.

Ethereum (ETH) and the Merge: A Game Changer?

Bitcoin faces stiff competition from Ethereum as ETH matches 2025 highs against BTC. Ongoing speculation surrounding the Merge is driving considerable interest. The Ethereum blockchain is now scheduled to launch its long-awaited proof-of-stake (PoS) “Merge” during the week of September 19th. Prior to that, between 6-12 August, the Etherum blockchain will conduct its final testnet proof-of-stake transition, combining the Goerli and Prater networks, but retain the “Goerli” name thereafter. The Merge is anticipated to have a significant impact on the Ethereum network and the broader crypto market.

Altcoin Performance: Ether, Solana, and Polkadot Lead the Way

Major tokens were headlined by Ether, Solana, and Polkadot, which delivered 24-hour returns of between 5% and 8.5%. The broader crypto market has had a positive start to the week, up by 1.66% at the time of writing.

Weekly Crypto Market Wrap: Expert Analysis

This update incorporates insights from leading industry analysis. Published by Zerocap, the Weekly Crypto Market Wrap is a weekly summary and market analysis of the previous week for digital assets. Get a comprehensive overview of market movements and potential investment opportunities.

Crypto News for the Weeks Ahead

Stay tuned for further updates as the Merge approaches and market dynamics evolve. Last week was about exploits during the weekdays, followed by a relatively quiet weekend with fewer action elements.

Top 10 Cryptocurrencies (Snapshot)

While this update focuses on major players, the crypto market is diverse. In this article, we have helped make a list of the top 10 cryptocurrencies for August 2025 to assist with your choice of investment. As the crypto trend continues to gain more momentum, people look to invest and join. Note that price data is dynamic and subject to change. The following is a sample of top cryptocurrencies:

Note: Prices are illustrative and subject to change.