ADA faces a mixed market environment, influenced by positive factors such as the expansion of Bitcoin ETF options trading and Japanese tax reforms, juxtaposed with concerns over ETF decision delays and Chinese regulations. Market sentiment remains supported by expectations of a Bitcoin 'supercycle', while technically ADA continues to trade within a neutral range. Overall, the outlook maintains a neutral bias, anticipating a cautiously firm trend.

### Analysis of Key Cryptocurrency Market News and Impact on ADA Price 1. Expansion of Bitcoin ETF Options Trading in the US Regulatory easing by the SEC is expected to facilitate greater participation from institutional investors in the Bitcoin market, contributing to price stabilization. The expansion of the options market enhances liquidity and is anticipated to have a moderating effect on volatility. This is projected to attract new capital inflows, serving as a factor supporting medium- to long-term price appreciation. While the direct impact on ADA's price is limited, improvements in overall market sentiment and institutional investor activity could potentially ripple through the broader altcoin market. 2. Potential Restrictions on Stablecoin Activities in China and Hong Kong Reports suggest that mainland Chinese companies may be forced to withdraw from stablecoin and crypto-related activities in Hong Kong. This indicates a potential non-participation in Hong Kong's stablecoin licensing competition and could influence regulatory trends for stablecoins in the Asian market. Amid the continued dominance of USD-pegged stablecoins internationally, such regulations might spur interest in alternatives, although the direct impact on ADA's price is currently seen as limited. 3. Planned Cryptocurrency Tax Reforms in Japan Japan plans to lower its progressive tax rate, currently up to 55%, to a flat 20% by fiscal year 2026. This change would treat digital assets similarly to stocks, introduce safeguards against insider trading, and allow investors a three-year loss carryforward period. This initiative is likely to stimulate domestic cryptocurrency investment and attract foreign capital. Clarification and easing of the tax regime are expected to enhance market transparency and investor confidence, potentially bringing indirect positive effects to the altcoin market, including ADA. 4. US SEC Delays Decisions on Crypto ETF Proposals from BlackRock and Franklin Templeton The SEC has postponed decisions on several cryptocurrency ETF proposals, including those from BlackRock and Franklin Templeton. This highlights the ongoing uncertainty surrounding the ETF approval process and could impact the pace at which institutional investors enter the crypto market. While the delay in ETF approvals may cause a temporary negative impact on market sentiment, the prospect of approvals following more rigorous scrutiny in the long term could foster healthier market growth. Although ADA's ETF approval remains undecided, the overall trend in ETF approvals could influence ADA's price. 5. Potential for Bitcoin's "Supercycle Ignition" and Price Forecast ($170k-$360k) Analysts suggest Bitcoin's price is forming a pattern indicative of "supercycle ignition," with potential to reach $170,000 to $360,000 in this cycle. This outlook is underpinned by recovering institutional demand, evidenced by inflows into spot Bitcoin ETFs reaching a two-month high. Such a bullish forecast could lift sentiment across the entire cryptocurrency market. Bitcoin's price action often leads the market, and its upward movement is expected to positively impact altcoins, including ADA. 6. Launch of Dogecoin ETF and Impact on Speculation The launch of the first Dogecoin ETF in the US accelerates the cryptocurrency industry's acceptance of speculation. Unlike Ethereum ETFs, this ETF is approved under the "Investment Company Act of 1940," positioning it closer to traditional investment funds. This could increase interest in speculative asset classes like memecoins. As ADA is also a community-driven project with speculative aspects, the developments surrounding the Dogecoin ETF may influence sentiment in the ADA market. 7. Rapid Growth of Crypto Adoption in Sub-Saharan Africa Sub-Saharan Africa ranks as the third-fastest-growing region globally in cryptocurrency adoption. This growth underscores a focus on real-world use cases for cryptocurrencies amidst challenges like local currency devaluation and the lack of robust traditional financial systems. The proliferation of crypto in this region could lead to the development of new markets and diverse use cases. Platforms like ADA could see their value enhanced if adoption gains traction in these emerging markets. 8. Polygon Fixes RPC Node Bug, Restores Consensus The Polygon Foundation announced it has fixed a software bug that caused some nodes to go out of sync, thereby restoring consensus and finality functions. Following the bug, Polygon successfully executed a hard fork impacting Remote Procedure Call (RPC) nodes. This represents a significant development for the stability and reliability of the Polygon network. As a key Ethereum scaling solution, resolving its technical issues enhances the trustworthiness of the Polygon ecosystem and could indirectly influence interest in other Layer 1 solutions like ADA. 9. New Benchmark in Crypto Trading Volume: Hyperliquid Records $330B Monthly Volume In July, Hyperliquid processed approximately $330 billion in monthly trading volume, briefly surpassing Robinhood. This achievement is attributed to its split-chain design, which maintains custody and execution on-chain while delivering CEX-level speed. Major airdrops, integration with Phantom Wallet, and bootstrapping efforts contributed to user acquisition and retention. The emergence of platforms like Hyperliquid intensifies competition within the Decentralized Finance (DeFi) space, attracting users seeking faster and more efficient trading environments. This could potentially drive demand for more advanced scaling solutions and trading platforms within the Cardano ecosystem where ADA is built. 10. Avalanche Reportedly Aims to Raise $1 Billion for Crypto Treasury Vehicle Reports indicate the Avalanche Foundation intends to raise $1 billion to launch digital asset treasury and accumulation initiatives. This signals a significant investment into the Avalanche ecosystem and the development of new financial products for the long-term holding and management of digital assets. Such efforts could bolster confidence in the Avalanche network, potentially attracting more institutional and retail investors. ADA's price can be influenced by similar infrastructure investments and ecosystem expansion news, making Avalanche's trajectory relevant to overall market sentiment. ### Overall Summary The previous day's cryptocurrency market saw positive developments such as the expansion of Bitcoin ETF options trading, signaling heightened institutional interest, and tax reforms in Japan. Conversely, potential regulatory tightening by China in Hong Kong and delayed ETF decisions by the SEC presented areas of concern. Bitcoin's price surged following softer inflation data, boosting overall market sentiment. The rapid adoption of cryptocurrencies in Sub-Saharan Africa and increased trading volumes from emerging platforms like Hyperliquid highlight market diversification driven by regional factors and technological innovation. Consequently, the altcoin market, including ADA, is expected to continue experiencing price fluctuations influenced by these trends.

Downside risks include potential further delays in the U.S. SEC's ETF decision and the possibility of tighter regulations in China and Hong Kong. Technically, a breakdown below the current $1 level could lead to further declines. Continued attention should be paid to overall market sentiment, particularly Bitcoin's price action and regulatory announcements.

Over the next 24-48 hours, the market is expected to remain range-bound, tracking Bitcoin's movements. On a weekly timeframe, ADA also holds potential for upside, supported by anticipation surrounding ETF approvals and progress towards Bitcoin's 'supercycle'. Key catalysts to watch include news regarding major ETF approvals and technological advancements within the ADA ecosystem.

Overall, ADA is currently in a neutral phase, influenced by macroeconomic uncertainty and regulatory developments. While the expansion of Bitcoin ETF options trading and tax reforms in Japan could positively impact overall market sentiment, the postponement of ETF decisions introduces short-term uncertainty. Expectations of a Bitcoin 'super cycle' hold the potential to boost the entire altcoin market, including ADA. However, ADA is currently forming a range-bound market around the $1 mark, with both the RSI and MACD lacking clear directional signals. Volatility remains low, indicating the asset is in a phase of consolidation, seeking a definitive trend. As an investment strategy, rather than aggressive accumulation at this point, it is advisable to monitor short-term price fluctuations closely. Should a breakdown below $0.95 occur, preparations should be made for further downside risk. Conversely, if Bitcoin maintains its strength and ADA experiences a breakout above $1.05, it could present an opportunity to capitalize on a short-term upward trend. In such a scenario, setting the initial take-profit target between $1.15 and $1.20, with a stop-loss placed below $0.95, is recommended to effectively manage the risk-reward ratio. Over the next week, the market is expected to be most sensitive to Bitcoin's movements and news regarding ETFs from the US SEC. Careful monitoring of these events and the identification of signs indicating a positive shift in market sentiment will be key to success. Patience and waiting for clear market signals represent the optimal strategy during this period of uncertainty. It is crucial to remain proactive and prepared to seize opportunities.