The cryptocurrency market opened this Monday with renewed optimism as Bitcoin (BTC) held firm above $114,000. Ethereum (ETH) also bounced back above $3,500, while altcoins like Solana (SOL) and XRP posted strong gains.
However, global macroeconomic factors and new tax policies in Indonesia are shaping investor sentiment.

Crypto Price Overview – August 4, 2025

As of this morning:

• Bitcoin (BTC) is trading at $114,280, up 0.66% in 24 hours.

• Ethereum (ETH) is at $3,533, gaining 2.4% today.

• Solana (SOL) sits at $162.20, up 1.1%.

• XRP is among the day’s best performers, surging over 5%.

The global cryptocurrency market cap has risen to $3.72 trillion, a 1.5% increase in the past 24 hours. Daily trading volume, however, has dropped by nearly 22% to $108 billion, with DeFi transactions making up around 30% of total volume.

Market Sentiment: Bitcoin and Ethereum Bounce Despite Macro Pressure

Crypto markets are navigating a mix of bullish and bearish forces:

• The US dollar index (DXY) has climbed above 100, putting pressure on risk assets, including crypto.

• Fresh US tariff tensions have injected uncertainty into the global economy.

• Despite these headwinds, institutional buying and regulatory relief in the US are supporting prices.

Indonesia Raises Crypto Taxes – August 1 Implementation

In a major policy shift, Indonesia has increased its tax rates on crypto transactions:

• Domestic trades: 0.21% tax (previously 0.1%).

• Overseas exchange trades: 1% tax (previously 0.2%).

• Mining VAT doubled to 2.2%.

• Buyer VAT has been removed.

These changes, effective August 1, 2025, signal Indonesia’s recognition of cryptocurrency as a financial asset rather than a commodity, aligning with its broader fiscal strategy.

US Regulatory Landscape Eases – A Turning Point for Crypto?

The US crypto sector is experiencing a regulatory thaw:

• The SEC has dropped its lawsuit against Coinbase.

• Cases involving Gemini, Kraken, and Uniswap have been paused or dismissed.

• The US government’s Strategic Bitcoin Reserve and Digital Asset Stockpile programs are reinforcing institutional acceptance of crypto.

Industry leaders are calling this a turning point in the so-called “war on crypto,” potentially paving the way for mainstream adoption.

Altcoins Shine: XRP & Solana Lead Gains

While Bitcoin and Ethereum remain market leaders, several altcoins are outperforming:

• XRP has jumped over 5% in the last 24 hours, driven by whale accumulation and renewed investor confidence.

• Solana (SOL) continues to attract developer and DeFi interest, holding above $160 with a modest daily gain.

Crypto Market Outlook – What to Watch Next

• Macro Impact: A stronger US dollar could limit near-term crypto gains.

• Regulation: Continued easing in the US and Asia will likely boost market stability.

• Altcoin Momentum: Watch for further gains in XRP, SOL, and other high-utility tokens.

• DeFi Growth: DeFi volumes now account for nearly one-third of all crypto trades, signaling a shift toward decentralized trading platforms.

Conclusion

Today’s crypto market is balancing regulatory optimism with macroeconomic caution. Bitcoin’s ability to hold above $114K, Ethereum’s rebound over $3,500, and altcoin momentum point to a healthy start for August.
Investors will be watching policy developments in key markets like the US and Indonesia, as well as institutional investment trends, to gauge the next big move.