Bitcoin reached the $64,700 level again today and is preparing for a potential breakout above $65,000. Ethereum has also strengthened noticeably, with buyers targeting a move above $1,900.

Meanwhile, the cryptocurrency market continues to benefit from the positive reaction to yesterday's Federal Reserve meeting. At the same time, the forecast from ARK Invest regarding a potential wave of bankruptcies and closures across the crypto industry, which was presented at the end of July, began to be confirmed by specific cases within just a few days.

The company views the current developments as the largest consolidation phase in the history of the industry. It attributes this trend to increasing investor selectivity, as projects and exchanges without strong product-market fit are finding it increasingly difficult to attract capital. Weaker players are either shutting down or continuing to fight for survival, while industry revenue is becoming increasingly concentrated among a small group of dominant protocols.

The scale of this concentration is supported by specific figures. The perpetual futures exchange Hyperliquid and the memecoin platform Pump.fun together generate approximately 67% of total cryptocurrency application revenue. With the addition of the synthetic dollar protocol Ethena, the combined share of the three leading platforms reaches nearly 80% of the sector's total revenue.

According to the company's assessment, this trend is expected to accelerate in the coming months, creating a new wave of mergers and acquisitions, bankruptcies, project closures, and team acquisitions through technology integration.

There is no need to look far for examples. BitMEX, one of the industry's oldest derivatives exchanges, recently announced that it would cease operations in September. Several days later, BitMart announced the termination of trading services starting August 26, with a complete shutdown of operations planned for January 2027.

Both cases represent a classic scenario of voluntary market exits by companies that failed to maintain competitive trading volumes amid liquidity concentration around several dominant players.

Regarding short-term trading, the strategy and conditions are outlined below.

Buy Scenario

Scenario No. 1

I plan to buy Bitcoin today if the entry point is reached near $64,700, targeting a move toward $65,200. Around $65,200, I will exit long positions and immediately look for short positions on a rebound. Before entering a breakout trade, make sure that the 50-day moving average is below the current price and that the Awesome Oscillator is above the zero line.

Scenario No. 2

Bitcoin can be bought from the lower boundary at $64,400 if there is no market reaction following a breakout below this level, with a potential return toward $64,700 and $65,200.

Sell Scenario

Scenario No. 1

I plan to sell Bitcoin today if the entry point is reached near $64,400, targeting a decline toward $64,000. Around $64,000, I will exit short positions and immediately look for long positions on a rebound. Before entering a breakout short trade, make sure that the 50-day moving average is above the current price and that the Awesome Oscillator is below the zero line.

Scenario No. 2

Bitcoin can be sold from the upper boundary at $64,700 if there is no market reaction following a breakout above this level, with a potential return toward $64,400 and $64,000.

Ethereum

Buy Scenario

Scenario No. 1

I plan to buy Ethereum today if the entry point is reached near $1,922, targeting a move toward $1,943. Around $1,943, I will exit long positions and immediately look for short positions on a rebound. Before entering a breakout trade, make sure that the 50-day moving average is below the current price and that the Awesome Oscillator is above the zero line.

Scenario No. 2

Ethereum can be bought from the lower boundary at $1,911 if there is no market reaction following a breakout below this level, with a potential return toward $1,922 and $1,943.

Sell Scenario

Scenario No. 1

I plan to sell Ethereum today if the entry point is reached near $1,911, targeting a decline toward $1,893. Around $1,893, I will exit short positions and immediately look for long positions on a rebound. Before entering a breakout short trade, make sure that the 50-day moving average is above the current price and that the Awesome Oscillator is below the zero line.

Scenario No. 2

Ethereum can be sold from the upper boundary at $1,922 if there is no market reaction following a breakout above this level, with a potential return toward $1,911 and $1,893.