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Join OANDA Market Analyst Kenny Fisher, Nick Syiek (TraderNick) and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. https://open.spotify.com/episode/22PnheK2NyNSv0QlyZdhbL?si=edrEMoOKQsOKk-CuEGg_FQ Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin continues to hover below its all-time high, with current trading levels near $118,000 reflecting a 0.6% daily drop and a 3.8% pullback from the peak above $123,000 recorded earlier this month. While the broader trend remains uncertain, analysts have assessed on-chain activity for signs of the next major move. Recent data from CryptoQuant analysts highlights a divide between retail and institutional behavior across leading exchanges, raising questions about potential profit-taking or strategic accumulation. Bitcoin Retail Traders Sell into Strength, While Whales Accumulate On the one hand, short-term holder (STH) behavior on Binance suggests some market participants are opting to take profits following the asset’s strong rally. On the other hand, Kraken has recorded a sharp outflow of Bitcoin, a movement typically associated with whale activity or long-term accumulation. This contrasting activity across platforms suggests a split in market sentiment, with retail traders potentially trimming their exposure and larger players preparing for sustained upside. According to CryptoQuant analyst Amr Taha, the Binance Exchange Inflow Ratio for Short-Term Holders recently crossed the 0.4 level, historically linked to increased retail selling pressure. These STHs, who typically hold Bitcoin for fewer than 155 days, tend to deposit funds to exchanges during periods of price strength to lock in gains. The spike above this threshold may indicate a growing tendency among retail investors to exit positions in anticipation of volatility. In contrast, the same analysis pointed to significant outflows from Kraken, with over 9,600 BTC withdrawn on July 22, one of the highest single-day outflows seen in recent months. Taha interpreted this as a potential signal of whale accumulation, with institutional or high-net-worth participants removing assets from exchange custody, often in preparation for long-term storage. This divergence in behavior between Binance and Kraken highlights the differing strategies employed by market segments, with retail users leaning toward short-term positioning and whales opting for long-term accumulation. Binance Reserve Trends Highlight Strengthening Profit Margins Adding another layer to the evolving market picture, CryptoQuant analyst Darkfost shared that Binance’s unrealized profit on its Bitcoin reserves has hit an all-time high of approximately 60,000 BTC. This figure has grown despite a gradual decline in total BTC reserves held on the platform, which have fallen from 631,000 BTC in September 2024 to 574,000 BTC as of now. A portion of these holdings, around 16,000 BTC, is locked in custodial wallets to back the BTCB token on the BNB Chain, serving operational purposes. Darkfost emphasized that decreasing exchange reserves are often interpreted as a sign of investor confidence, reflecting a preference to store Bitcoin in personal wallets rather than leaving it on centralized platforms. The rise in unrealized profit amid falling reserves may indicate that while outflows persist, the remaining holdings have appreciated significantly in value, highlighting the platform’s strengthened position. Featured image created with DALL-E, Chart from TradingView

S&P 500 and Nasdaq 100 E-mini futures continued to edge higher in Asia’s Thursday session, up 0.1% and 0.3% respectively. Gains were supported by upbeat sentiment from Wednesday’s US session, despite mixed Q2 results from Tesla and Alphabet. Investor optimism was further boosted by President Trump’s new executive orders to bolster US artificial intelligence capabilities and improve prospects for a US-EU trade agreement. Tesla drops on earnings miss, while Alphabet rises on AI demand Tesla shares tumbled 4.4% in after-hours trading as Q2 earnings fell short of expectations ($0.40 EPS vs. $0.48 consensus). CEO Elon Musk’s cautious outlook—citing the phase-out of EV incentives and slow driverless tech deployment—added to the negative sentiment. In contrast, Alphabet shares rose 1.7% after beating earnings forecasts ($2.31 EPS vs. $2.16), buoyed by strong AI-driven sales growth. US stocks rally to fresh highs, led by Dow and tech giants The S&P 500 climbed 0.8% to a new all-time high, while the Nasdaq 100 gained 0.4%, led by Nvidia (+2.3%). The Dow Jones Industrial Average outperformed with a 1.1% jump to 45,010—just shy of its record high from December 2024. All major US indices remain in strong short-to-medium-term uptrends. Asia markets track Wall Street gains as US-EU Trade talks advance Asia-Pacific equities mirrored the US rally amid growing optimism that the 1 August US-EU trade deadline may yield a breakthrough. Media reports suggest progress toward a 15% tariff on most EU imports, replacing prior sticking points in negotiations. Nikkei nears record high; STI and Hang Seng extend gains Japan’s Nikkei 225 surged 1.7% to 41,870, closing in on its all-time high of 42,427. Hong Kong’s Hang Seng Index added 0.4%, marking its fifth straight daily gain. Meanwhile, Singapore’s Straits Times Index rose 0.8%, poised to log a 14th consecutive record close,up 11% from its 23 June low. Japanese yen leads FX moves ahead of ECB, Gold slides toward support The US dollar weakened further during Asia hours, with the Japanese yen outperforming major peers, gaining 0.4%. The Australian dollar also advanced by 0.3%. The euro and sterling traded almost unchanged from Wednesday’s US session close as traders await the European Central Bank (ECB) monetary policy decision out later today, where the consensus has priced in no rate cut to maintain its key deposit rate at 2% after eight consecutive cuts. ECB President Lagarde’s press conference will be pivotal as market participants look out for more hints to indicate ECB is at the end of its interest rate cut cycle. If such hawkish hold guidance materialises, the EUR/USD is likely to have more impetus to maintain its recent minor short-term bullish uptrend phase that kickstarted last Wednesday, 17 July. Meanwhile, gold (XAU/USD) extended its decline, shedding 0.3% intraday after a 1.3% drop yesterday. The precious metal is now nearing a key short-term support at US$3,260, where buyers may return. Economic data releases Fig 1: Key data for today’s Asia mid-session (Source: MarketPulse) Chart of the day – EUR/GBP looks set to resume its bullish move as ECB looms Fig 2: EUR/GBP minor & medium-term trends as of 24 July 2025 (Source: TradingView) The recent slide of 58 pips seen on the EUR/GBP cross pair from its 15 July swing high area of 0.8700 has hit a key inflection point for the bulls to resume a potential bullish impulsive up move sequence with its short-term minor uptrend phase in place since 27 June 2025 low. Firstly, the price action of EUR/GBP has staged a bounce right above the lower boundary of its medium-term ascending channel from 29 May 2025 low, and its rising 20-day moving average. Secondly, the hourly RSI momentum indicator has formed a “higher low” after it hit a recent oversold reading on 23 July, which suggests a potential short-term bullish momentum revival. Watch the 0.8640 short-term key pivotal support, and a clearance above 0.8700 increases the odds of a fresh bullish impulsive up move sequence to see the next intermediate resistances coming in at 0.8740/8770 and 0.8800 (see Fig 2). However, a break below 0.8640 invalidates the bullish scenario for a minor corrective decline to expose the next intermediate supports at 0.8600 and 0.8540 (also the 50-day moving average). Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

On-chain data shows the XRP whales have transferred significant amounts in the asset during the past day. Here’s where the coins are heading. XRP Whales Have Just Made Two Large Transactions According to data from cryptocurrency transaction tracker service Whale Alert, two massive transfers have been spotted on the XRP blockchain in the last 24 hours. Both of these moves were of a scale that can be associated to the whales, entities that carry significant amounts in their wallets. Due to their size, these investors can hold some degree of influence on the network, so their transfers can be worth keeping an eye on. They may not always directly affect the asset, but they can still sometimes be revealing about the sentiment among the cohort. That said, it’s only possible to speculate on transactions when they involve at least one wallet that’s identifiable. Cryptocurrency networks are, after all, anonymous by nature, so a lot of transfers don’t hold any meaningful information. The older of the two XRP whale transfers from the past day, which also happens to be the much more massive of the two, was unfortunately of the type with no known addresses. As is visible above, the transfer involved around 200 million XRP, worth a whopping $700.6 million at the time that the move was executed on the blockchain. The transaction occurred between two unknown wallets, meaning that they were likely to have been self-custodial addresses. As mentioned before, it’s hard to infer anything from moves like these, as they can have any underlying reason, ranging from something as simple as a change of wallets to a peer-to-peer (P2P) sale. The second whale transfer for the day, however, was different. Below are the details associated with this move. This transaction, which saw the movement of 16.8 million tokens of the asset (about $58.3 million), had an unknown wallet as the sender, but on its receiving end was an address associated with cryptocurrency exchange Coinbase. Moves of this type, where coins flow from a self-custodial wallet to a centralize exchange, are called Exchange Inflows. Generally, holders deposit their coins to these platforms when they want to make use of one of the services that they provide, which can include selling. As such, Exchange Inflows can sometimes prove to be bearish for the cryptocurrency’s price. Given that the whale has made this transaction following a surge in XRP, it’s possible that profit-taking may have been the motive behind it. XRP Price At the time of writing, XRP is trading around $3.27, up over 9% in the last week.

Bitcoin’s recent price action reflects a consolidation phase rather than a decisive move in either direction. After briefly touching an all-time high of over $123,000 earlier this month, BTC has seen a gradual pullback, currently trading around $118,000 at the time of writing. This represents a 1.1% drop in the last 24 hours and a 3.9% decline from its peak, as traders evaluate whether the current market structure suggests a continuation or a correction. According to new insights from CryptoQuant contributors, indicators present a split narrative. Some metrics suggest rising optimism among traders, while others indicate a more cautious and holding-focused environment. Surge in Long Positions Raises Contrarian Concerns CryptoQuant contributor BorisVest highlighted a notable spike in the long/short sentiment ratio on Binance, showing a growing preference among traders for long positions. This metric, which tracks the volume of long versus short positions on the exchange, has tilted significantly bullish within the $116,000–$120,000 price range. He noted that during Bitcoin’s previous consolidation between $100,000 and $110,000, sentiment leaned toward short positions, a setup that preceded a breakout to the upside and a wave of short liquidations. This time, however, the environment has flipped. BorisVest explained: Now that sentiment is skewed heavily toward longs, the same principle could apply in reverse. When the majority positions in one direction, it often creates a setup for the opposite move. The current range is acting as a trap zone, where traders’ expectations are repeatedly tested. The historical tendency for sentiment extremes to precede contrary price action has prompted some analysts to advise caution, suggesting that growing bullish bias could lead to a temporary reversal if met with enough liquidity pressure. Bitcoin Exchange Flow Patterns Reflect Investor Patience While Binance sentiment data leans bullish, another key on-chain indicator paints a different picture. CryptoQuant analyst Arab Chain examined the Bitcoin Flow Pulse (IFP) indicator, which tracks BTC movements to centralized exchanges. According to the data, despite Bitcoin’s recent high above $120,000, there has not been a corresponding spike in exchange inflows, suggesting that investors are not rushing to take profits or exit the market. This behavior contrasts with historical cycles in 2017 and 2021, where price peaks were accompanied by large exchange inflows and followed by corrections. Arab Chain wrote: The market now shows a consolidating trend, with reduced selling pressure. The low flow to exchanges indicates confidence among holders and suggests that many participants are expecting the uptrend to continue. Still, he cautioned that a shift in the IFP indicator, such as a sudden rise in exchange flows, could act as an early warning for increased supply pressure. Featured image created with DALL-E, Chart from TradingView

XRP price started a downside correction from the $3.650 zone. The price is now trading below $3.30 and remains at risk of more losses. XRP price started a downside correction below the $3.50 zone. The price is now trading below $3.450 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3.30 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $3.050 zone. XRP Price Dips Further XRP price started a fresh decline after it failed to clear the $3.650 resistance zone, like Bitcoin and Ethereum. The price declined below the $3.450 and $3.350 support levels. The decline was such that the price traded below the $3.120 level. A low was formed at $3.050 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $3.650 swing high to the $3.050 low. The price is now trading below $3.450 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $3.30 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $3.2320 level. The first major resistance is near the $3.2650 level. A clear move above the $3.2650 resistance might send the price toward the $3.350 resistance or the 50% Fib retracement level of the recent decline from the $3.650 swing high to the $3.050 low. Any more gains might send the price toward the $3.450 resistance or even $3.50 in the near term. The next major hurdle for the bulls might be near the $3.650 zone. Another Drop? If XRP fails to clear the $3.350 resistance zone, it could start another decline. Initial support on the downside is near the $3.150 level. The next major support is near the $3.120 level. If there is a downside break and a close below the $3.120 level, the price might continue to decline toward the $3.050 support. The next major support sits near the $3.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $3.120 and $3.050. Major Resistance Levels – $3.250 and $3.350.

Ethereum price started a downside correction from the $3,850 zone. ETH is now moving lower but might find bids near the $3,520 support zone. Ethereum started a downside correction below the $3,770 level. The price is trading below $3,680 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,670 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,550 zone in the near term. Ethereum Price Holds Support Ethereum price failed to extend gains above the $3,850 level and started a downside correction, like Bitcoin. ETH price traded below the $3,800 and $3,770 support levels. There was a move below the 50% Fib retracement level of the upward move from the $3,480 swing low to the $3,859 high. The decline was such that the price even dived below the $3,660 level and the 100-hourly Simple Moving Average. However, the bulls were active near the 76.4% Fib retracement level of the upward move from the $3,480 swing low to the $3,859 high. Ethereum price is now trading below $3,680 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $3,670 level. There is also a key bearish trend line forming with resistance at $3,670 on the hourly chart of ETH/USD. The next key resistance is near the $3,770 level. The first major resistance is near the $3,800 level. A clear move above the $3,800 resistance might send the price toward the $3,850 resistance. An upside break above the $3,850 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,200 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,670 resistance, it could start a downside correction. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,570 zone. A clear move below the $3,570 support might push the price toward the $3,520 support. Any more losses might send the price toward the $3,450 support level in the near term. The next key support sits at $3,320. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,520 Major Resistance Level – $3,670

Ethereum (ETH) is attempting to reclaim its most critical resistance after registering a nearly 70% rally in the past month. Some crypto analysts suggest that the King of Altcoins is preparing to aim for new highs, but warned a potential pullback might come first. Ethereum Risks 15% Correction Ethereum started the week hitting a yearly high and recording a 178% recovery from the April lows. The cryptocurrency has seen a significant rally over the past few weeks, following its price breakout and consolidation between May and June. As the crypto market started to soar again this month, driven by Bitcoin’s climb to new all-time highs (ATHs), ETH reclaimed the crucial $3,000 barrier and has continued to rise to its most critical resistance around the $3,800 area. On Monday, Ethereum reached its yearly high of $3,860 before being rejected and retracing to the $3,600 area. Following this performance, analyst Ali Martinez suggested that the $3,835 resistance and the $3,490 support will likely determine Ethereum’s next move. Notably, the $3,825 area sits as the largest resistance ahead, where 2.82 million addresses have bought 1.48 million ETH. Reclaiming this level would set the stage for a rally to the cycle high of $4,107. Meanwhile, the $3,490 area, where 4.18 million addresses bought 3.53 million ETH, remains the largest support after the recent breakout. A strong rejection from the key resistance could send the price toward this area if the current levels don’t hold. Market Watcher Andrew Crypto considers that Ethereum will likely see a correction soon, as “a chart without a correction isn’t a healthy chart.” To the analyst, the cryptocurrency could be headed to its yearly opening (YO) area, between $3,300-$3,400, after being rejected from the local supply zone and major resistance. Nonetheless, he forecasted a bounce and retest of the $3,800 mark if the pullback occurs. ETH To Repeat Past Cycle’s Playbook? Analyst Crypto Bullet suggested that Ethereum’s performance resembles its price action from last cycle. According to the post, ETH’s chart is starting to form a Descending Broadening Wedge pattern, “almost identical” to its setup from 2019-2020. To the analyst, “The picture looks very bullish right now” as price is testing the pattern’s resistance for the third time. He believes it will break out this time, similar to what happened in 2020, and eyes a cycle top target between $8,000 and $10,000. Crypto Bullet warned that a 10%-15% pullback to the $3,300-$3,400 area could come first, but added that “If we do break this formidable Resistance, ETH will rally hard. In this case, a new ATH is guaranteed.” Similarly, Merlijn The Trader highlighted the similarities between Ethereum’s rally in 2017 and 2025, as the King of Altcoin shows the “Same range. Same fakeout. Same breakout.” The trader noted that ETH retested the key resistance twice in 2016-2017 before breaking out and recording a 5,000% rally. To him, the cryptocurrency could have a similar performance this cycle as institutions are “behind the wheel.” As of this writing, ETH is trading at $3,698, a 21% increase in the weekly timeframe.

US crypto watchers are on edge. A new policy report is set to land before the month ends – and it could reshape how digital assets fit into the US government’s plans. Working Group Sets Release Date According to an X post by Bo Hines, the President’s Digital Asset Working Group wrapped up its 180‑day study and will publish the findings on July 30. Based on reports, the group was originally expected to unveil the report around July 22, following an executive order in January by US President Donald Trump. That order asked the team to sketch out how a Strategic Bitcoin Reserve might work. The report should spell out how much Bitcoin the US holds today. Those coins come from law enforcement seizures over recent years. Policy wonks and investors alike want to know whether the federal stash is just a data point or the start of a bigger reserve plan. Strategic Bitcoin Reserve Insights Inside sources say the document will cover the nuts and bolts of setting up a national digital‑asset fund. It’s likely to recommend using existing seized coins first. Then it could suggest budget‑neutral methods—like moving assets from other funds—to buy more Bitcoin. There’s talk of tapping nearly 200,000 BTC that authorities have captured so far. Security, storage and audit rules will also get attention, since a reserve needs tight guards and clear accounting. The executive order hinted that the reserve would use only lawfully obtained coins. It didn’t detail how long the government must hold them before selling, but some drafts mention a 20‑year holding period for stability’s sake. If that sticks, it would mirror long‑term strategies used for gold and other strategic resources. Congressional Moves On Crypto On the Hill, Congress isn’t sitting still. Trump recently signed the GENIUS Act, which lays out rules for banks, credit unions and trusted non‑banks to issue stablecoins. At the same time, the Senate Banking Committee just rolled out a crypto market structure bill. That proposal aims to decide who’s in charge—whether it’s the SEC or the CFTC—and how to protect everyday users. Beyond those measures, Senator Cynthia Lummis has reintroduced the BITCOIN Act. It would direct the Treasury to buy 1 million BTC over five years. Investors see a clear upside if both executive and legislative moves line up. More government buying could add heavy demand to Bitcoin’s market. Yet some experts warn that holding such a volatile asset on a government balance sheet carries its own risks, from price swings to security costs. Featured image from Pexels, chart from TradingView

Bitcoin price is eyeing a fresh increase above the $118,500 resistance. BTC must clear the $120,250 resistance zone to gain bullish momentum in the near term. Bitcoin started a fresh increase after it cleared the $118,000 zone. The price is trading above $118,600 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $118,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,000 resistance zone. Bitcoin Price Aims Another Increase Bitcoin price started a correction phase from the $120,250 resistance zone. BTC dipped below the $118,500 level and tested the $118,000 zone. There was a move below the 50% Fib retracement level of the upward move from the $116,260 swing low to the $120,237 high. However, the bulls were active near the $117,500 support zone. There is also a key bullish trend line forming with support at $118,200 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $118,600 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $119,300 level. The first key resistance is near the $120,000 level. The next resistance could be $120,250. A close above the $120,250 resistance might send the price further higher. In the stated case, the price could rise and test the $122,500 resistance level. Any more gains might send the price toward the $122,500 level. The main target could be $123,200. Another Decline In BTC? If Bitcoin fails to rise above the $120,250 resistance zone, it could start another decline. Immediate support is near the $118,500 level and the trend line. The first major support is near the $117,200 level or the 76.4% Fib retracement level of the upward move from the $116,260 swing low to the $120,237 high. The next support is now near the $116,250 zone. Any more losses might send the price toward the $115,000 support in the near term. The main support sits at $113,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $118,250, followed by $116,250. Major Resistance Levels – $119,250 and $120,250.

PENGU is finally getting serious consideration this week, with indications of strength straight out of the derivatives market. Open interest has spiked to $591 million, while overall derivatives volume detonated to more than $4.43 billion. That’s a 35% jump in open interest and a massive 291% spike in volume, based on data from Coinglass. This kind of sharp increase in activity suggests traders are becoming more aggressive. Many are either betting on higher prices or preparing for big moves in both directions. For now, the momentum favors the bulls. Strong Price Holds Support As Traders Build Positions Price-wise, PENGU has been steady above $0.036 after reclaiming the key $0.033 level. It’s currently trading at $0.041. Its relative strength index is sitting at 64.04—well above neutral, but not yet in overbought territory. That’s a good sign for bulls hoping for more upside without triggering a correction too soon. Volume Spikes Add Fuel To Momentum Traders are now watching the $0.038 level closely. That’s just below the Fibonacci 1.618 extension, which sits at $0.03846. If PENGU manages to break above it, more traders could jump in, especially with the derivatives side already heating up. More than 38 million PENGU tokens were exchanged in the past 24 hours, underpinning the strength of the move. The bullish configuration is also aided by support levels near the 0.786 Fib, 0.618, and 0.5 regions. These are areas where buyers have intervened in the past, and they might do the same if prices retract. There are no signs of bearish divergence on the RSI, and each dip has been followed by quick recoveries. That keeps the overall trend in favor of the bulls. PENGU Open Interest Up Open interest increasing along with price generally indicates that traders are supporting the move with conviction. But this also makes the market more prone to sudden changes. With $591 million invested in open positions, even a minor pullback could cause a mass of exits. That’s the danger when too much money rushes in too fast. Another Move Upward? PENGU Pudgy Penguins is making another move upward. Crypto analyst Muro’s latest 15-minute chart reveals a sharp push through the downward trendline that kept price in check throughout the prior day. That breakout—paired with a successful retest and bounce—typically marks a change in momentum, hinting that the bulls may be back in control. Featured image from Unsplash, chart from TradingView

As Bitcoin (BTC) continues to trade near its all-time high (ATH) of $123,218, concerns over rising exchange deposits are mounting. However, fresh on-chain data reveals a significant contrast between the current rally and previous ones – most notably, a decline in BTC deposits to exchanges. Bitcoin Flow Pulse Shows Low Exchange Activity According to a CryptoQuant Quicktake post by contributor Arab Chain, the Bitcoin Inter-Exchange Flow Pulse (IFP) indicator is exhibiting “interesting behavior” in mid-2025. Notably, large investors do not appear to be selling their holdings, despite BTC trading at record highs. Typically, sophisticated investors begin profit-taking as an asset approaches ATH territory. However, that behavior appears to be largely absent this time. The lack of selling activity stands in contrast to the market peaks of 2017 and 2021. During both these instances, there were large BTC inflows to exchanges, which were closely followed by significant price corrections. Arab Chain shared the following chart highlighting the relationship between a rising IFP and Bitcoin’s price trajectory. The chart illustrates how price corrections followed rising IFP levels at the end of 2017 and again in 2021. In 2025, despite an IFP surge earlier in the year, the BTC market has since consolidated rather than corrected. For context, the IFP indicator tracks the volume of Bitcoin transferred between centralized exchanges, providing insights into investor sentiment and market conditions. A rising IFP typically suggests growing intent to sell or arbitrage, while a declining IFP indicates reduced exchange activity and stronger holder conviction. This year’s dynamic between IFP and BTC price suggests investors are choosing to hold Bitcoin, even as prices hover near record highs. Arab Chain noted that such behavior reinforces the bullish case. They said: This behavior indicates high confidence in the uptrend so far and partly explains why the price has continued to rise without any clear selling pressure. On the other hand, if the Bitcoin IFP indicator begins to rise, it indicates an intention to sell and an anticipated significant supply pressure. Therefore, a sudden rise in the indicator is a strong warning sign for speculators. BTC Miners Engaging In Profit-Taking While large investors remain largely inactive on the selling front, Bitcoin miners appear to be cashing in on the current rally. Miner outflows surged to 16,000 BTC on July 15 – the highest single-day level since April 7. As selling pressure builds, recent analysis by CryptoQuant contributor Chairman Lee highlights a key support level that BTC must defend to remain on track for the $180,000 year-end target. At press time, BTC trades at $117,529, down 1.4% in the past 24 hours.

Telegram has launched its TON Wallet for users in the United States. The wallet, developed by The Open Platform, is now available to all 87 million U.S. users and is built directly into the Telegram app. This marks the first time U.S. users can access a fully self-custodial crypto wallet within a mainstream messaging platform. Wallet Access Without Leaving the App Users can now send and receive crypto through their Telegram chats. Everything happens inside the same interface people already use to talk to friends and join communities. There are no extra apps to download or complex signups to deal with. The wallet is part of the chat experience, designed to be quick and accessible without disrupting how people already use Telegram. Source: Shutterstock U.S. Rollout Follows Legal Review Telegram held off releasing the wallet in the U.S. due to earlier legal concerns. The team behind the launch said recent regulatory developments gave them more confidence to move forward. With a large user base in the U.S. already in place, the team saw an opportunity to bring the wallet to a new market under clearer conditions. Recovery System Designed for Regular Users Instead of requiring users to write down or memorize long seed phrases, the wallet uses a two-part recovery method. One part connects to the user’s Telegram account. The other is tied to their email. This system lowers the chances of users getting locked out and helps them avoid one of crypto’s most common pain points. TONPriceTON24h7d30d1yAll time DISCOVER: 20+ Next Crypto to Explode in 2025 Features Go Beyond Simple Transfers The wallet includes tools for swapping tokens, staking, and buying crypto with a debit card. It also connects to Telegram’s Mini App system, giving users access to blockchain-based services without leaving the app. These features are designed to make crypto feel like a built-in part of the chat experience rather than a separate product. Toncoin Responds to the Launch Toncoin, the network’s native token, saw increased trading activity following the rollout. Its price moved upward shortly after the announcement, with gains continuing into the following week. Analysts linked this to growing user engagement and renewed interest in the TON ecosystem. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Expansion Builds on Earlier Global Releases Telegram first made the wallet available outside the U.S. in 2023. By 2024, over 100 million users worldwide had activated it. The U.S. release is the latest step in that expansion. Telegram has been gradually adding financial tools to its platform, combining social messaging with digital payments and blockchain access. What This Means for Crypto Use Bringing a self-custodial wallet into a familiar app reduces the effort required to use crypto. People don’t need to learn new tools or manage multiple accounts to try simple features like sending stablecoins or using a staking service. Telegram’s approach could make casual crypto use more common by meeting users where they already are. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Telegram has launched its built-in TON crypto wallet for all U.S. users, reaching 87 million people with direct in-app access. Telegram fully integrated the wallets into chats, letting users easily send, receive, and manage crypto without switching apps. A new split-key recovery system removes the need for seed phrases, helping onboard more mainstream users with less friction. Users can buy, swap, and stake tokens directly from the wallet, plus access Web3 services through Telegram’s Mini App ecosystem. Toncoin saw a price boost after the U.S. rollout, signaling positive market response and growing ecosystem engagement. The post Telegram Brings Crypto to U.S. Users via TON Wallet appeared first on 99Bitcoins.

Ethereum isn’t just for tech startups and DeFi fanatics anymore. A growing group of public companies is now locking it away in their treasuries. Altogether, they’re holding more than 865,000 ETH, worth around $3.2 billion. That’s not a rounding error. It’s a sign that Ethereum is starting to play a much bigger role in corporate finance. SharpLink and Bitmine Take the Lead SharpLink Gaming tops the list with 360,807 ETH, worth over $1.3 billion. Bitmine is close behind, with around 300,700 ETH on its books. Together, that’s over $2 billion in ETH between just two firms. Others, like GameSquare and BTCS, have also joined the club recently, quietly padding their reserves while Ethereum’s market cap continues to climb. Source: Shutterstock Fast Growth in a Short Window The pace of this buildup has been rapid. In just a few weeks, four public firms added more than 113,000 ETH combined. That’s not a casual purchase. The number of companies holding ETH publicly jumped from 40 to 58 in the same period. It’s a pretty clear message that something is clicking with institutional buyers. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in July2025 Why It Matters Ethereum has consistently captured the tech crowd’s attention, powering everything from NFTs to sophisticated smart contracts. But this wave of interest is different. These companies aren’t just dabbling. They’re adding ETH to their balance sheets like they would cash or gold. That kind of move doesn’t happen unless executives are convinced it’s here to stay. Share Prices React in Real Time Bitmine’s stock is a perfect example. After revealing its ETH holdings, the share price took off. Investors clearly saw value in the strategy, and that reaction hasn’t gone unnoticed. It’s one thing to hold crypto privately. It’s another to go public with it and watch the market reward the move. EthereumPriceMarket CapETH$439.43B24h7d30d1yAll time DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Yet, There’s Still Risk Of course, this isn’t a one-way bet. Ethereum’s price doesn’t move in straight lines, and these companies are fully exposed to that volatility. Holding a big pile of ETH can boost your stock price when markets are bullish, but it cuts both ways. This kind of approach takes confidence and a strong stomach. Ethereum Is Growing In Institutional Popularity Bitcoin used to be the main coin in town when it came to corporate crypto. That’s starting to change. Ethereum is now being treated like a legitimate treasury asset, not just a tool for developers. That’s a big shift from where things stood even a year ago. The big question now is whether the trend keeps growing. If Ethereum holds its ground, other public firms could feel pressure to follow suit. For now, this is a sign that Ethereum is moving into a new role. It’s no longer just part of the crypto conversation. It’s becoming part of the corporate one, too. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Public companies now hold over 865,000 ETH, valued at $3.2 billion, signaling Ethereum’s growing role in corporate finance. SharpLink Gaming and Bitmine lead the pack, holding a combined $2 billion in ETH between just two firms. The number of public firms with Ethereum on their books jumped from 40 to 58 in a matter of weeks. Bitmine’s share price surged after disclosing its ETH holdings, showing investor support for corporate crypto strategies. Ethereum is no longer just a developer tool — it’s becoming a strategic treasury asset for major public companies. The post Public Companies Now Hold $3.2 Billion in Ethereum, Surpassing 865,000 ETH appeared first on 99Bitcoins.

Litecoin (LTC) is picking up speed. The coin is now trading at $116 after rising 20% over the last seven days. Trade volume has also jumped by 1.30%, hitting $1.27 billion. That’s a clear sign of growing activity. Over the past week, LTC has surged by 24%, reaching a high of $119.21. For many traders watching the charts, momentum is starting to build again. Bulls Eye $125 As Momentum Builds Crypto analyst Naveed said Litecoin has broken through a key resistance level. According to him, the price “filled the fair value gap” and moved higher just as predicted. The next target now falls in the $120–$125 zone. That’s the level many traders are watching as a potential breakout point. The growing optimism isn’t just about short-term moves. Some analysts have projected that LTC might reach as high as $262 sometime in 2025, even after a rough start to the year. Their outlook includes a rise to $140, followed by a potential dip under $94 before making a comeback. The long-term picture includes a shot at the previous all-time high of $413, although that’s a steep climb from where it is now. Litecoin Sentiment Turns Bullish Meanwhile, CoinCodex gave a more conservative outlook. They expect LTC to rise by 15% and hit $134 by August 22, 2025. Their technical indicators show that the overall sentiment is bullish. Also, the Fear & Greed Index is currently sitting at 74, which points to high confidence—or greed—among investors. LTC has registered gains on 19 of the previous 30 trading days. That’s approximately 60% of the time, with price fluctuations of nearly 11%. It’s an indicator that Litecoin’s price is going up, but it’s not doing so in a linear motion. Investors are finding space for appreciation but are aware the market is still volatile. Market Watching $140 After $125 Test If LTC clears the $125 resistance, the path toward $140 could open up. A lot of traders agree this level is important, not just from a technical point of view but also because of growing market interest. Social chatter is increasing, and trading activity is starting to pick up across different crypto exchanges. However, not everything is certain. Global markets are still reactive to such things as interest rate changes, inflation reports, or policy changes. Crypto regulation is also something that might shift sentiment very rapidly. But Litecoin’s recent resilience has allowed it to outshine altcoins during this month. With $134 in sight and a possible return to $262 in 2025, Litecoin is showing signs of life again. Whether it can sustain the rally will depend on what happens next—especially around that $125 line. Featured image from Unsplash, chart from TradingView

After nearly eight years of being trapped under a long-term resistance line, XRP is set to make headlines again as it inches closer to a historic breakout against Bitcoin (BTC). With XRP Spot ETF approvals still pending, this breakout could signal the start of a significant shift in momentum and price trajectory. XRP To Break Major Resistance Against Bitcoin The XRP/BTC trading pair is rapidly approaching a critical technical breakout that could reshape its long-term value outlook. Crypto market expert Gordon noted in his chart analysis on X social media that XRP/BTC is close to breaching an 8-year descending resistance line—a move that could spark a major structural change in the market. A breakout from this resistance could not only signal the end of nearly a decade of underperformance against Bitcoin but also serve as a potential precursor to a broader revaluation of XRP. Gordon’s biweekly chart illustrates XRP’s historical struggle to gain ground against Bitcoin, with repeated rejections from a strong descending line that has acted as a barrier since 2017. However, after experiencing long years of consolidation and accumulation, XRP/BTC now appears to be forming a large Symmetrical Triangle, with the current price hovering just below the upper boundary of the formation. Based on Gordon’s analysis, this technical compression suggests an imminent breakout, especially as price action builds momentum. What makes this potential breakout even more intriguing is that XRP’s rising value and current momentum have occurred without any significant bullish catalysts. The upward movement in XRP/BTC comes even before any official news concerning a potential XRP Spot ETF approval. The anticipation surrounding this ETF is already palpable, and a favorable decision could act as a powerful catalyst for continued upside. This scenario aligns with Gordon’s assessment that a breakout from the 8-year trendline could be a gateway to a generational wealth opportunity. 2025 XRP Spot ETF Approval Odds Hit 95% According to new data shared by market expert Steph is Crypto, XRP has emerged as one of the front-runners in the race for Spot ETF approval in the United States (US). The analyst has stated that the probability of an XRP ETF approval by the US SEC in 2025 has increased to a whopping 95%. XRP currently shares the highest projected odds of approval alongside Litecoin and Solana, signaling a major shift in sentiment toward altcoin-based ETFs. Already, a growing number of institutional asset managers are investing in this ETF, including Grayscale, Bitwise, 21Shares, WisdomTree, Canary, and others. Just a few days ago, reports also revealed that the SEC has officially approved the conversion of the Bitwise 10 Crypto Index Fund into an ETF, which will include assets such as XRP, BTC, ETH, and others.

Bitcoin hovers just below its mid‑May record at roughly $119,000, while the global crypto‑asset capitalisation approaches $4 trillion, but traders say the real test will come in the last week of July, when an unusually dense cluster of US macro‑policy events collides with an intensifying legal battle over President Trump’s tariffs. “The last few days of July will set the stage for markets for the rest of the year imo. FOMC meeting where dovish dissents are looking very likely. QRA meeting where we will get a look into how willing Bessent is going to be to try to weaponize treasury issuance for the first time since being chair. Tariff letter deadlines. The Supreme Court will begin deliberating on whether tariffs via executive order are legal or not. No big edge on either side right now personally, will just react once we get clarity. Stay frosty,” Forward Guidance host Felix Jauvin wrote via X. July’s Final Days Could Shape Crypto The two‑day Federal Open Market Committee meeting on 29–30 July is the first shot. Governor Christopher Waller, speaking last week, laid out the case for an immediate 25‑basis‑point rate cut, arguing that tariff‑linked inflation looks “temporary” and that the labour market is “under strain.” Prediction‑market platform Kalshi assigns a 40 % probability to two cuts and a 13 % probability to three cuts by December; Goldman Sachs now places the first move in September, but traders emphasise that even a single dovish dissent next week would cement that timetable. As The Kobeissi Letter summed up in a widely shared post: “Rate cuts are coming … Next week’s Fed meeting will pave the path for a September rate cut.” Treasury Secretary Scott Bessent has broken with predecessors’ reticence by all but instructing the central bank to move sooner. “If [tariff] inflation isn’t sticky, they could do it sooner than September,” he told Fox News on 1 July, after stating two months earlier that “the bond market is sending a signal that the Fed should be cutting.” Only hours after the Fed decision, Bessent will unveil the Treasury’s third‑quarter borrowing plans at the Quarterly Refunding Announcement. The agenda published on 11 July flags a noon release on 30 July. Desks are watching not just the size but the maturity mix: Bessent’s advisers have floated heavier use of short‑dated bills to “manage the yield curve,” a move that would soak up the very cash that cycles into stablecoins and crypto risk. Tariffs Come Back Into Focus Trade policy is the second pressure point. A 7 July executive order extended reciprocal tariffs and launched a volley of tariff‑rate letters to trading partners; the new levies take effect on 1 August unless renegotiated. Bessent flies to Stockholm next week in a last‑minute bid to defer a mooted 100 % surcharge on Chinese imports, underscoring how fluid the landscape remains. Even if diplomats buy time, lawyers may not. The Court of Appeals for the Federal Circuit has set 31 July for expedited oral argument on V.O.S. Selections v. Trump, a case that could decide whether a president can impose tariffs under the International Emergency Economic Powers Act. Petitioners have already asked the Supreme Court for review before judgment, calling the tariffs a “$600 bn annual tax.” A ruling to curtail executive trade powers would remove what many bitcoin bulls see as a long‑term inflation tail‑risk; the opposite outcome could entrench the policy. Real yields—now the dominant macro driver of Bitcoin—move inversely to rate‑cut expectations and Treasury supply. The benchmark 10‑year has fallen about 30 bp in three sessions to 4.34 %, mirroring BTC’s 8 % bounce over the same period. For now, the market’s playbook is simple: Watch the Fed dots, count the bills in the QRA, read the tariff letters—and, as Jauvin advised, “stay frosty.” At press time, total crypto market cap stood at $3.81 trillion.

Log in to today's North American session recap – July 23, 2025. Today’s session has been marked by some positive news all around. Between yesterday evening’s announcement of a US-Japan Trade Deal, rumours of ongoing constructive talks between the US and Europe, and the ongoing Russia-Ukraine talks in Istanbul, Turkey, that could bring the conflict closer to its end as we approach Trump’s ultimatum, which would see Russia’s trading capacities impaired even more. Stock markets had opened a mixed as markets prepare for the Alphabet (Google) and Tesla releases with the ongoing two sessions of profit taking in Nasdaq and rewiring of these flows towards the Dow Jones. Almost all most traded indices are however closing higher and by a fair margin, with Japan's Nikkei 225 up 4.54%, and EuroStoxx closing up 2.38%. The Dow Jones is closing about 30 points from its all-time highs, a move that had been anticipated. It has been close to two months of consolidation near the highs while the Nasdaq and S&P 500 have been flying higher. Read More: Pump-fake from the US Dollar — North American Mid-Week Market Update Daily Cross-Asset performance Cross-Asset Daily Performance, July 23, 2025 – Source: TradingView The Ethereum (-3.20%) is once again the laggard of the day, and dragging the rest of the major altcoins with it. Altcoins hitting their highs hasn't been welcomed by profit-takers with some titles like ADA and Sol both down around 7%. Gold has also seen some profit taking after rising close to $120 in todays (at its highs), with the precious metal down around 1.20%. You can check our latest analysis of the precious metal right here. A picture of today's performance for major currencies Currency Performance, July 23 – Source: OANDA Labs The Deal news had surprised markets but the USDJPY had already corrected quite a bit before – And with the ongoing political micmac with the latest Japanese elections, the pair finishes the session unchanged. The Australian and New Zealand Dollars are on the other hand enjoying from the positive mood all around markets, with both currencies finishing the day up around 0.70% against the Greenback. On the other hand, the Swissie and the US Dollar have struggled, going in tandem with other safe havens. Earnings Season: Who is releasing their numbers tomorrow Earnings Calendar for July 24th – Source: Nasdaq.com Tomorrow should be less market moving than today's post-close earnings calls – Still watch for earnings from Intel, Deutsche Bank and TotalEnergies. A look at Economic Data releasing in the evening and tomorrow's session The Economic Calendar is very packed in the evening sessions (attention to AUD Traders for the data releasing at 19:30 tonight) and tomorrow's Data rainfall. Focus on PMIs from Europe, the UK and the US – I strongly invite to note down the expectations to spot how all the relative currency pairs move at the consequent releases. Tomorrow should have enough fuel for volatility, at least in Forex – Also do not forget the Google Earnings releasing very soon (between 16:30 and 17:00 today). Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

BNB, the native cryptocurrency of BNB Chain, crossed the $800 level in early Asian trading on Wednesday to set a new all-time high of $801. The surge came after a 5% increase over the last 24 hours and a 13% gain in the last week, taking BNB’s market capitalization to over $110 billion. Currently, it ranks as the fifth-largest cryptocurrency by market capitalization. Spike In Volume And Derivatives Trading Volume trading around BNB has increased strongly. According to Coinglass data, daily volume rose over 40% to over $3 billion. Derivatives volume surged 31% to $2.18 billion, while open interest in BNB futures increased 19% to $1.23 billion. These represent an expanding tide of speculation and demand for the asset, perhaps fueled by fresh money flowing into the market. A good deal of this movement seems to be riding on bullish momentum forming around BNB’s recent price action. The token has been in an uptrend for weeks now, and this breakout above its previous highs indicates buyers are remaining bullish, even as there are indications that the market is heating up. Meanwhile, the relative strength index (RSI) is also well into overbought conditions at 87.50. When the RSI crosses above 70, it generally means that a pullback may be imminent. Nevertheless, the uptrend is still in place. BNB is well above its 20-day simple moving average of $704. Price is higher with good volume, and this is a combination that is commonly used to confirm trend strength. Nano Labs Buys $90 Million Worth Of BNB Institutional buying could be propelling the rally. On July 22, China-founded Web3 infrastructure company Nano Labs Ltd announced it had added 120,000 BNB tokens to its holdings—worth around $90 million. According to the company, it bought over-the-counter at an average cost of $707 per BNB. Nano Labs stated that it views BNB as a strategic reserve asset and will continue to add to its holdings. It also stated that it will invest in companies that are dedicated to the BNB ecosystem. Such a long-term commitment brings an element of confidence for retail investors tracking the token’s movements closely. All the hype aside, there are beginning to appear some warning signs. BNB is now trading above the top Bollinger Band, an indication that the token may be getting stretched. Featured image from Unsplash, chart from TradingView

One of the themes that had driven markets since the beginning of the month was the US Dollar recovering some strength which marked some tops and bottoms for many Currency pairs. Starting the 1st of July and amplified by a streak of positive data, the Greenback saw its heavy-selling positioning reverse largely. Particularly after the NFP report and the July CPI, most flows surrounded a re-shifting of funds back towards the US which notably propelled the Nasdaq and S&P 500 through multiple all-time highs. This USD strength seems to have been just a temporary retracement however, with the Dollar Index having sold off close to two handles from its Thursday swing high (98.50 highs, currently around 97.20) – That move had much more influence in Forex than stocks. As a matter of fact, the Dow Jones is flying and trying to catch up to its peers. The industrial-focused index just breached the 45,000 Key landmark and is coming closer to its all-time highs. You can take a look at an in-depth analysis of the Index right here: Read More: Dow Jones rebalancing continues after US-Japan Trade Deal Since the last mid-week report, there hasn't been much in terms economic data for either the US or Canada except for a strong beat in US Retail Sales last Thursday (0.6% vs 0.1% expected) which further boosted the run in Equities but did not prevent the profit taking that happened on last Friday. Although, the week is far from over and between PMI releases and key earnings, Markets should still await some volatility. North-American Indices Performance North American Top Indices performance since last Monday, July 23, 2025 – Source: TradingView The S&P 500 is taking the crown since last Monday, with some choppy retracements but strong bullish moves. On the current rewiring however, the Dow Jones is catching up with its peers relatively fast – Something to keep in check for the upcoming weeks. US Dollar Mid-Week Performance vs Majors USD vs other Majors, July 23, 2025 - Source: TradingView. There hasn't been much pity for the Greenback as it gave up most of its gains, back towards July 10th levels. The USD is down between 0.95% to 1.60% against all of its major counterparts. Canadian Dollar Mid-Week Performance vs Majors CAD vs other Majors, July 23, 2025 - Source: TradingView. Its been many weeks now that the Canadian Dollar hasn't seen much independent movement from the US Dollar. It seems that the ongoing bigger picture in Forex is flows that are moving from Europe to Asia-Pacific Currencies in tandem and dragging both NA Currencies at the same time. It was almost the contrary last week. The performance from the Loonie is definitely not as bad as the one from the US Dollar. Intraday Technical Levels for the USD/CAD USDCAD 2H Chart, July 16, 2025 – Source: TradingView Almost nothing has changed since our last analysis of the pair and the action is still rangebound. The ongoing USD selloff is pretty strong, but odds are not for a breakout as markets tend to consolidate towards incoming key Data (tomorrow will see the release of the US PMIs, more details further in the article) Support Levels: Higher Timeframe Key support Zone 1.3560 to 1.361.3540 (2025 Lows)1.35 Psychological level1.3450 October 2024 lowsResistance Levels: Pivot zone 1.3675 to 1.36861.3740 Pivot turned Resistance1.38 Main ResistanceUS and Canada Economic Calendar for the Rest of the Week US and Canadian Data for the rest of the week, MarketPulse Economic Calendar The rest of the week is promised to be more instructive in terms of Economic data releases. Tomorrow (Thursday 24th) will see the release of Canadian Retail Sales at 8:30 A.M. with the Headline number at -1.1% Consensus. Do not forget the weekly Jobless Claims (exp 227K) The day will shortly follow with US Manufacturing (exp 52.5) and Services PMIs (exp 53) at 9:45 A.M. ET. Friday should be lighter however with mostly the Durable Goods order data, which can be interesting data to look at the impacts of the Trump Policies in further detail. Oil Traders should also monitor the Baker Hughes Oil Rig Counts at 13:00 on Friday. Safe Trades for the rest of the week! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

EUA endurecem postura em política externa e comercial: Trump recua de "decoupling", mas centraliza poder sobre sanções e mantém apoio a Powell 📌 Destaques do dia: Secretária do Tesouro dos EUA afirma que acordo comercial com a China pode ser prorrogado além do prazo de 12 de agosto. Trump reforça que não demitirá Jerome Powell e não tem pressa para substituí-lo. Casa Branca confirma que muitos acordos comerciais ainda serão firmados. Trump quer manter controle exclusivo sobre sanções à Rússia, excluindo o Congresso. Nome de Trump aparece nos arquivos de Jeffrey Epstein, segundo o Wall Street Journal. 🇺🇸🇨🇳 EUA e China: desacoplamento evitado, foco é redução de riscos A Secretária do Tesouro dos EUA, Emily Bessent, declarou que "os EUA não querem o desacoplamento da China, e sim a redução de riscos nas cadeias de suprimento", sinalizando um tom mais pragmático na política comercial com Pequim. Bessent também afirmou que o acordo comercial temporário EUA-China expira em 12 de agosto, mas que “o prazo deve ser prorrogado”, indicando que as negociações seguem ativas e estratégicas para Washington. 🇺🇸 Fed: Trump afirma que não demitirá Powell Apesar das críticas anteriores, o presidente Donald Trump confirmou que não irá demitir Jerome Powell da presidência do Federal Reserve. A Secretária do Tesouro reiterou que o governo não tem pressa para nomear um novo presidente ao Fed, reforçando a continuidade da atual linha de política monetária. 🇺🇸 Nova onda de acordos comerciais a caminho A Casa Branca anunciou que "ainda há muitos acordos comerciais por vir", fortalecendo a agenda protecionista e industrial de Trump. A estratégia visa consolidar cadeias produtivas internas e atrair investimentos para território norte-americano. 🇺🇸🇷🇺 Sanções contra Rússia: Trump quer controle exclusivo O governo norte-americano anunciou que o presidente Trump não permitirá que o Congresso assuma o direito de impor sanções à Rússia. A decisão centraliza o poder decisório sobre política externa diretamente na presidência. 📂 Nome de Trump aparece nos arquivos de Epstein Segundo reportagem exclusiva do Wall Street Journal, o Departamento de Justiça notificou Trump em maio de 2025 que seu nome está presente nos arquivos do caso Jeffrey Epstein. A Câmara dos Deputados emitiu uma intimação judicial à associada de Epstein, Ghislaine Maxwell. 🔍 Conclusão e perspectiva analítica – Por Igor Pereira, Analista WallStreet NYSE A atual conjuntura revela um Trump mais estratégico e cauteloso com a China, porém extremamente centralizador e imprevisível na política externa com Rússia e assuntos domésticos sensíveis. A permanência de Powell no Fed traz estabilidade para os mercados monetários, mas os riscos políticos aumentam com as implicações do caso Epstein. Para os traders de ouro (XAU/USD), o cenário continua altamente propício a valorização, dada a combinação de risco político interno, tensões geopolíticas e fragilidade institucional. O ouro segue como hedge dominante no segundo semestre de 2025. 📈 Recomendações para os próximos dias: Monitorar fluxo de notícias sobre o caso Epstein. Observar evolução dos acordos comerciais e sua repercussão sobre o DXY. Acompanhar decisões do PBoC sobre estímulos. Ficar atento a novos movimentos de Trump sobre sanções unilaterais. 📢 Conteúdo exclusivo ExpertFX School. Para traders que operam com informação institucional e análise geopolítica de alto impacto.

Three workers are still trapped underground following accidents at Newmont’s (NYSE, ASX: NEM; TSX: NGT) Red Chris mine in northwestern British Columbia, a company spokesperson said. Newmont has suspended operations. A collapse, or fall of ground incident, on Tuesday morning affected the access way to the underground work area of a non-production project at the copper-gold mine, the spokesperson said in a statement sent to The Northern Miner on Wednesday. Three business partner employees, who were working more than 500 metres beyond the affected area, were asked to move to a self-contained refuge station before the access way was blocked by a collapse. Contact was made with the workers, who confirmed they had safely entered a refuge bay, which contains food, water and ventilation sufficient to support an extended stay. Shares in Newmont, the world’s largest gold miner by production and market capitalization, fell 0.4% on Wednesday afternoon in Toronto to C$83.83 apiece, valuing the company at C$68.3 billion. Communication cut A second collapse then cut off communication with the workers, and Newmont halted operations. “With the support of industry, we are working to assemble specialist teams from nearby mine sites to respond to the situation,” the spokesperson said. “Newmont is actively assessing all methods and technologies available to restore communication and safely bring our team members to surface. Our priority remains on ensuring the safety of the three individuals and of the emergency response teams supporting this effort.” Red Chris, in production since 2015, is a joint venture owned and operated 70% by Newmont and 30% by Imperial Metals (TSX: III). The mine is about 80 km south of Dease Lake and 1,050 km north of Vancouver.

🇺🇸🇨🇳 EUA e China Mantêm Diálogo Comercial: Tesouro Americano Reafirma Interesse em Reduzir Riscos, Não em Romper Relações ✴️ Por Igor Pereira – Analista de Mercado Financeiro, Membro WallStreet NYSE A secretária do Tesouro dos Estados Unidos, Elizabeth Bessent, afirmou nesta quarta-feira (23) que Washington não busca um “decoupling” (rompimento) total com a China, mas sim uma redução dos riscos associados às cadeias globais de suprimento. As negociações comerciais entre os dois países continuam em andamento, enquanto o acordo temporário vigente entre EUA e China está programado para expirar em 12 de agosto de 2025. Apesar da data-limite para o fim do atual acordo estar se aproximando, Bessent indicou que existe uma possibilidade real de extensão do prazo, o que sugere que o governo Biden-Trump deseja evitar uma escalada abrupta nas tensões comerciais neste momento. 🧠 O que esperar? Com o anúncio da possível extensão do acordo e o discurso mais diplomático por parte dos EUA, os mercados tendem a: Reduzir o prêmio de risco associado a uma ruptura comercial brusca; Aumentar o otimismo nos setores de exportação industrial da China e importação nos EUA; Fortalecer ativos de risco no curto prazo, especialmente ações ligadas ao comércio global e empresas de logística; Pressionar ligeiramente o dólar americano (USD), caso o tom mais amigável continue nos próximos dias. 💥 Impacto no mercado financeiro: Ativo Impacto Esperado Comentário Técnico XAU/USD (Ouro) Neutro a levemente negativo Alívio geopolítico reduz demanda por proteção USD/CNH (Yuan offshore) Pressão de baixa no USD Expectativa de maior cooperação favorece yuan S&P 500 / Nasdaq Levemente positivo Expectativa de estabilidade comercial favorece big techs Commodities (Soja, Minério, Petróleo) Alta especulativa Melhor clima entre EUA-China tende a reativar fluxo comercial 🏛️ Contexto Estratégico O temor de um decoupling total entre EUA e China aumentou nos últimos anos, especialmente após a imposição de tarifas, sanções e restrições tecnológicas. Contudo, declarações como a de hoje mostram uma tentativa do governo norte-americano de manter a China como parceiro econômico, mas sob novos termos de segurança estratégica e controle de dependência. A data de 12 de agosto será crucial para os mercados, mas o tom atual sugere que não haverá surpresas drásticas, o que reduz momentaneamente o risco sistêmico de curto prazo. 📌 Análise do especialista – Igor Pereira: 🔔 Fique ligado na ExpertFX School para atualizações diárias sobre geopolítica, moedas e commodities.

Shares of Paladin Energy (ASX, TSX: PDN) plummeted on Wednesday after delivering an underwhelming uranium production guidance for the 2026 financial year despite reporting its best operating quarter. The Australian miner, which operates the Langer Heinrich mine in Namibia, produced 993,843 lb. of uranium oxides (U₃O₈) for three months ended June 30, representing a 33% rise over the third quarter and its best operating performance in fiscal 2025. This brings its annual production to just over 3 million lb. Since declaring commercial production at Langer Heinrich in spring 2024, the company had initially forecasted production of between 4-4.5 million lb. U₃O₈ for the current fiscal year. However, it revised down the target to 3.6 million lb. in late 2024, and then scrapped the guidance entirely as severe weather conditions impacted its operations. Paladin has since been hit with class action lawsuits over its uranium forecasts. Despite the production rise in Q4, the company realized the lowest price for its yellowcake of all quarters at $55.6/lb., versus the yearly average of $65.7 and $69.9 the previous quarter. Guidance for 2026 For the 2026 fiscal year, Paladin has set a production guidance of 4-4.4 million lb. U₃O₈, similar to the initial guidance set last year. The production costs are pegged at $44-48/lb., higher than the $40 average cost realized in fiscal 2025. The guidance, according to Paladin’s management, reflects unexpected increases in mining-related expenditures, alongside variability in ore grades from stockpiled material at Langer Heinrich, especially during the first half of the year. Investors reacted negatively to the production and cost guidance figures, as Paladin closed the Australian market down 11.2%. In Toronto, its stock also tanked, down 9.1% in the afternoon with a market capitalization of C$2.6 billion. A report by the West Australian also pointed to the heavy short interest in the company’s ASX-listed shares, with short sellers controlling about 16.8% of the shares.

🔶 Goldman Sachs e BNY Mellon Tokenizam Fundos de Money Market: Início de uma Nova Era para Ativos Tradicionais? 🧠 Análise: Igor Pereira, Membro WallStreet NYSE Dois gigantes de Wall Street, Goldman Sachs e Bank of New York Mellon (BNY Mellon), anunciaram nesta quarta-feira (23) uma iniciativa conjunta para oferecer a investidores institucionais a possibilidade de adquirir fundos de mercado monetário (Money Market Funds) por meio de tokens digitais. O projeto visa tokenizar parte da indústria global de fundos monetários, avaliada em aproximadamente US$ 7,1 trilhões, utilizando tecnologia blockchain para representar cotas digitais desses fundos. ✅ O Que Está Acontecendo? Através de plataformas desenvolvidas em redes privadas de blockchain, os bancos permitirão que investidores qualificados tenham acesso tokenizado a fundos de liquidez que tradicionalmente são acessados via sistemas financeiros convencionais. Os tokens funcionam como representações digitais lastreadas nos ativos subjacentes dos fundos, proporcionando liquidez, segurança e rastreabilidade instantânea. A tokenização de ativos reais (RWA - Real World Assets) está se tornando uma das principais tendências no ecossistema financeiro, unindo o mundo tradicional com a infraestrutura descentralizada. A ideia é melhorar a eficiência operacional, reduzir custos de liquidação, aumentar a velocidade nas transferências e permitir liquidez 24/7 para ativos que, historicamente, operam apenas em dias úteis. 📊 Qual o Impacto no Mercado Financeiro? 1. Adoção Institucional Acelerada: A participação de bancos como Goldman Sachs e BNY Mellon na tokenização de ativos reais representa um sinal claro de legitimidade e amadurecimento do setor cripto e da tecnologia blockchain. A indústria bancária está deixando de lado a resistência inicial e partindo para a integração tecnológica real. 2. Disrupção na Indústria de Fundos: Fundos de mercado monetário são utilizados principalmente por grandes empresas e instituições como instrumentos de liquidez e proteção. A tokenização abre portas para uma nova forma de alocação, especialmente se a negociação puder ocorrer fora do horário tradicional e em ambientes com liquidez programável. 3. Risco e Regulação: Apesar do avanço tecnológico, ainda há desafios regulatórios. A Comissão de Valores Mobiliários dos EUA (SEC) tem alertado sobre a necessidade de supervisão criteriosa quanto à emissão de tokens lastreados em ativos reais, exigindo garantias de transparência e segurança jurídica. 4. Reflexos no Setor de Criptoativos: A expansão dos RWAs deve fortalecer a tese de utilidade das blockchains privadas e permissionadas, como as utilizadas por consórcios bancários. Também estimula o surgimento de protocolos DeFi híbridos que integram ativos tokenizados com contratos inteligentes. 🔍 O Que Esperar a Seguir? Mais adesões: Espera-se que outros grandes bancos, como JPMorgan, Citigroup e HSBC, sigam o mesmo caminho, lançando plataformas próprias de tokenização de ativos. Crescimento de produtos financeiros híbridos, misturando RWA com estruturas DeFi. Maior integração entre bancos centrais e stablecoins reguladas, facilitando transações com tokens institucionais. Criação de mercados secundários tokenizados, operando 24 horas por dia, incluindo fundos, ações e títulos públicos. 📌 Conclusão do Analista — Igor Pereira