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Silver X Mining’s Nueva Recuperada project in Peru. Credit: Silver X Mining A new preliminary economic assessment (PEA) for Silver X Mining’s (TSXV: AGX) flagship project in central Peru has confirmed its district-scale potential, with production of over 6 million oz. in silver-equivalent (AgEq) a year. The PEA envisions a 3,000-tonne-per-day mine operating for at least 14 years at the Nueva Recuperada property, situated within Peru’s Huachocolpa mining district known for its historic silver production. With an average annual production of 6.2 million AgEq ounces at an all-in sustaining cost of $15.8/oz, the project is given a net present value (5% discount, post-tax) of $440 million, with a 69% internal rate of return. The initial capital cost is estimated at $82 million, paid back in three years (after tax). Silver X the PEA results confirm the company’s potential to scale into a mid-tier silver producer, with two mines on one property — one of which (Tangana) is already in production and another (Plata) on its way — supported by a large resource base. The study incorporates the company’s most recent resource estimate of 35.65 million oz. AgEq measured and indicated and 116.55 million oz. AgEq inferred. “This updated PEA supports the company’s vision to increase production by up to six times within the next few years,” stated José García, CEO of Silver X, in a press release on Thursday. Shares of the company gained 1.3% by midday, extending a rally this week during which the stock hit multiple 52-week highs. The Vancouver-based silver miner has a market capitalization of C$88 million ($63m). Two mills planned To achieve its future production target, Silver X is aiming to have two milling facilities — one for Tangana and one dedicated to processing ore from the new Plata mining unit, from which it expects to start production next year. The Tangana mill will be a new 1,500 tpd facility, while Plata will use the existing 720 tpd Recuperada mill, which it plans to expand to 1,500 tpd as well. A new environmental and social impact assessment (ESIA) for the Tangana mining unit is in its final stages, and the company said it has worked with authorities towards its final approval, expected before the end of this year. On the exploration front, Silver X is in the midst of an 8,000-metre drill program to expand the resources at Nueva Recuperada, having already completed nearly 1,900 metres of development work at its existing mine operation. “We continue to upgrade our mineral resource, and we are very confident that the new drilling campaign that we are starting this week will result in a much stronger resource statement within a few months. On top of expanding the resource at Tangana, we now have the opportunity to rapidly increase the resource at our Plata mining unit, where we can find some of the highest grades in the district,” García stated.

Ethereum continues to display resilience in the face of recent volatility, holding firmly above the $4,200 level. Despite this strength, ETH has yet to break decisively above $4,500—a critical barrier that would confirm the next leg of its uptrend. Instead, selling pressure is mounting as the broader market feels the weight of profit-taking and uncertainty, leaving traders on edge about the short-term outlook. Still, Ethereum’s fundamentals remain robust. Institutions and large players are stepping in aggressively, fueling confidence that demand is far from fading. According to analyst Ted Pillows, Bitmine, a major institutional player, has once again purchased Ethereum just hours ago, adding to its already sizeable holdings. This repeated accumulation underscores a growing trend of capital rotation into ETH, even as other altcoins face heavier corrections. The narrative of institutional demand provides a counterweight to bearish sentiment, suggesting that Ethereum may be better positioned than Bitcoin or other large-cap tokens to weather the current market environment. With fundamentals and whale activity aligning in its favor, Ethereum’s ability to hold structural demand levels could be a decisive factor in determining whether the next breakout above $4,500 materializes in the coming weeks. Bitmine Strengthens Its Ethereum Position According to analyst Ted Pillows, Bitmine has once again made headlines by purchasing another $65.3 million worth of Ethereum, raising its total holdings to an impressive 1.785 million ETH. At current valuations, this stash is worth approximately $7.71 billion, cementing Bitmine’s status as the single largest Ethereum holder in the market. This dominant position places the institution far ahead of its competitors, with holdings more than double those of SharpLink, the second-largest ETH holder. The scale of Bitmine’s activity underscores the accelerating pace of institutional adoption surrounding Ethereum. While Bitcoin has historically held the spotlight as the flagship digital asset for institutions, the recent trend of capital rotation clearly demonstrates a shift in market preferences. Large players are increasingly allocating capital into ETH, viewing it not only as a store of value but also as a critical piece of the future digital economy given its smart contract ecosystem, DeFi applications, and Layer-2 scaling developments. This aggressive accumulation also reinforces the narrative that Ethereum is emerging as the preferred asset for long-term strategic positioning. By consistently adding to its ETH reserves, Bitmine is signaling confidence in Ethereum’s ability to outperform in the current cycle. Moreover, the contrast with Bitcoin—where reserves and demand have recently shown stagnation—highlights Ethereum’s growing dominance in institutional portfolios. Technical Details: ETH Consolidates In A Range Ethereum is trading around $4,406, holding above the crucial 200-period SMA but showing clear signs of indecision. The chart highlights how ETH has struggled to establish momentum above the $4,500 resistance, where repeated rejections confirm strong selling pressure. Despite multiple attempts, bulls have failed to trigger a sustained breakout, leaving ETH stuck in a sideways consolidation. The 50 and 100-period SMAs are flattening out, reinforcing the idea that momentum is cooling. Still, the 200 SMA near $4,280 provides structural support, and buyers have consistently defended this area in recent sessions. This suggests that while ETH is under pressure, its underlying bullish structure remains intact as long as it stays above this key level. From a risk-reward perspective, Ethereum’s immediate range is clear: support lies between $4,280–$4,300, while resistance remains firmly set at $4,500. A decisive break above $4,500 could open the way for a retest of $4,700–$4,800, but failure to hold support increases the likelihood of a drop toward $4,200. Featured image from Dall-E, chart from TradingView

XRP’s large holder cohort, specifically addresses holding between 10 million and 100 million XRP, has shifted from accumulation in the second half of August to significant dumping at the start of September. On-chain data from analytics platform Santiment reveals a sharp reversal in holdings, both in terms of circulating supply percentage and the number of coins held by this cohort. This change raises concerns about the sustainability of XRP’s price, which has been facing rejections above $2.8, and whether September could be a bearish month for the token. XRP Millionaires Start September With A Selloff XRP millionaire wallets, which are addresses holding between 10 million and 100 million XRP coins, aggressively increased their holdings during the second half of August. Based on the current price of XRP, each of these addresses is sitting on $28 million and $280 million worth of XRP, depending on the size of their wallets. Particularly, Santiment’s data shows that the percentage of XRP supply held by these addresses rose from 11.67% on August 16 to 12.19% by the end of the month. In terms of numbers, their stash grew from about 7.5 billion XRP coins to 7.85 billion XRP. This surge in accumulation showed the confidence among large investors, which contributed to XRP successfully holding above the $3 price level throughout the month. However, September has opened with an abrupt reversal. On September 1, whale holdings accounted for 12.19% of the circulating supply, but by September 3, that figure had dropped to 11.77%. In coin terms, the balance fell from 7.85 billion XRP to 7.61 billion XRP, wiping out much of the late August accumulation in just a few days. This decline is clearly illustrated in Santiment’s chart below, which shows a synchronized dip in both percentage supply and absolute holdings. This rapid offloading means that these millionaire wallets may be taking profits after August’s rally, and it introduces downside pressure that could have effects on XRP’s price action throughout September. Could This Mean A Red September For XRP? September has been a mixed month for XRP, with both strong rallies and painful corrections shaping investor sentiment. According to data from CryptoRank, the last time XRP saw a red September was back in 2021, when it fell sharply by 20.1%. Since then, however, XRP has managed to string together three consecutive green Septembers, including a 46.2% increase in September 2022. This track record shows that while September has the potential to bring losses, it has also been highlighted by gains. Although it is too early to declare a repeat scenario of a red September, the sell-off from millionaires at the beginning of September sets a worrying precedent. XRP’s price action is already showing signs of strain, with the token repeatedly facing rejections above $2.8 in recent days. If these millionaire wallets continue to offload their holdings, the bullish sentiment surrounding XRP may weaken, which may lead to further declines. At the time of writing, XRP is trading at $2.82, up by 0.2% in the past 24 hours.

Ivanhoe Mines (TSX: IVN) announced on Thursday that it has made a copper discovery at its exploration joint venture in Kazakhstan’s Chu-Sarysu Basin, warranting further follow-up. The Canadian miner, alongside UK-based partner Pallas Resources, is exploring a prospective land package of over 16,000 km², covering licences spread across seven projects. The landholding, according to Ivanhoe, represents one of the largest in Kazakhstan and is estimated to be seven times bigger than its Western Forelands project in the Democratic Republic of the Congo. The new copper discovery resulted from the joint venture’s fieldwork on the Merke licence, which is located in the southern part of the Chu-Sarysu Basin and includes a 36-kilometre-long stratigraphic trend, with multiple samples returning between 1% and 5% copper. While clearly not an economic occurrence in isolation, Ivanhoe’s team considers the copper mineralization — an outcrop on surface with an approximate 20-metre thick zone — to be “significant” as it strongly supports the thesis that mineralization is structurally controlled, with faults and fractures acting as conduits for copper-bearing fluids into a package of folded sedimentary carbonate rocks. The joint venture will now follow up on this discovery by mapping these structures in detail, supported by high-resolution magnetic surveys to trace them at depth, and by evaluating basement contacts and fault systems as potential fluid pathways. Shares of Ivanhoe declined 3.5% to C$12.02 by noon ET on the news, giving the Vancouver-based copper miner a market capitalization of C$16.22 billion ($11.72bn). Third-largest basin The entire Chu-Sarysu Basin, according to Ivanhoe, is ranked as the world’s third-largest sediment-hosted copper basin, after the Central African Copperbelt and European Kupferschiefer, hosting 27 million tonnes of known copper. The area hosts the world-class Dzhezkazgan deposit, which has been continuously mined for over a century. The United States Geological Survey (USGS) estimates that there remains approximately 25 million tonnes of undiscovered copper in the Basin. Despite its significant prospectivity, greenfield exploration has largely been neglected across the entire region for over 40 years. Kazakhstan as a whole has also been largely underexplored, even with its geological potential and status as a world-leading producer of uranium. S&P Global estimates that over the past 15 years, only $100 million has been spent annually on exploration in the country, far less than other major mining jurisdictions. With that in mind, Ivanhoe and privately held Pallas teamed up in late 2024 to explore the 16,000 km² land package in Chu-Sarysu, leveraging the former’s exploration success in Congo and the latter’s experience in Kazakhstan. Ivanhoe is expected to sole-fund up to $18.7 million over the first two years, and can elect to earn into all seven projects under the JV, up to 80%, for a maximum consideration of $115 million over four years. Drilling underway Ivanhoe also said that a 15,000-metre drill campaign has commenced in the western section of the joint venture’s land package on the Glubokoe licence, located several hundred kilometres north of the Merke licence. The first drill hole is expected to test the potential extensions of mineralization first noted in a Soviet-era stratigraphic hole drilled in the 1980s, which intersected three separate copper-bearing intervals over 26 metres, the company said. The initial drill holes in the 2025 campaign are expected to be between 800 and 1,000 metres deep, and will assist with calibrating the results with historic and newly acquired geophysical datasets. This in turn will inform the stratigraphic and facies models, as well as help identify drill targets for the remainder of drill program, it added.

This article is an update to an end-August Silver (XAG) piece. Read More: Silver (XAG) and other metals in focus as the Federal Reserve independance gets challenged Silver has outshined its peers in terms of performance, bolstered by the increasingly-menaced FED independence and Gold also rallying to new all-time highs. Metals comparative performance since August 2025 – Source: TradingView The fundamentals are not changing: Markets are still anxious about the future outlook for the US Dollar with the Trump Administration's US Exceptionalism policy. As time progressed, and despite some harsh tariffs that will start to bite into US Importers' profits, it seems that Markets were putting less emphasis on such policies with the Dollar Index stopping its early-2025 fall-off. The US Dollar's status as reserve currency is still far from being replaced. Nonetheless, firms and central banks have been looking for ways to diversify from risks to the Greenback and related assets like US Treasuries (still largely the most liquid non-cash asset). Geopolitic events such as the most recent Chinese Military Parade (the largest ever), celebrating the 80 years since the end of WW2 and hosting Vladimir Putin and Kim-Jong Un are also such testaments of the tone changing a little – The next 10 years are going to be interesting. Anyway, let's log in to a few Silver charts, to see what are the bigger picture trends and get levels ahead of the Non-Farm Payrolls release. Read More: Markets Already Looking to NFP Silver higher-timeframe technical analysisSilver (XAG) Monthly chart Silver Monthly Chart, September 4, 2025 – Source: TradingView Silver is progressively spiking towards the August 2011 highs after breaking the $40 psychological barrier. A Monthly ascending channel comes at a confluence with August 2011 highs ($44 to $44.50) and may act as a longer-timeframe profit-taking area. On the other hand, depending on the global outlook and any further geopolitical/dollar-led tensions, a further breakout above the upper bound is possible towards a retest of the previous ATH (still far from now, but holds a decent probability). The Daily picture during 2011 spikes A Daily chart of the April to October 2011 Period – Source: TradingView You can observe on this 2011 look-back how some key areas that will soon be tested either to the upside or downside and should influence upcoming flows for XAG trading. One of the only scenario that would restrain the ongoing rally would be a very strong Non-Farm Payrolls which would lead to huge US Dollar rallies and a consequent profit-taking in metals. For the rest, as expected should maintain the current-trend/consolidation period around the $40 pivot. Any miss should boost Silver's momentum (the extent of the miss will influence the extent of the rally) The current Daily picture with the 2011 support/resistance levels Silver Daily chart (current trading), September 4, 2025 – Source: TradingView Silver has recently broken out of its weekly channel, indicating how strong the current trend is. The end-August to beginning September moves have been surprising. Tomorrow's release and the September FOMC will shape up future demand for metals and will have huge influence on upcoming flows. Levels to watch for Silver (XAG) trading: Resistance Levels: $41.45 recent highs$42 psychological level$43 to $44 potential resistanceAugust 2011 $44.25 topSupport Levels: $39.50 to $40 key pivot zoneSupport 38 to $38.52012 Highs Support around 37.50 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.

After hitting its latest all-time high (ATH) on August 14, Bitcoin (BTC) has been on a steady decline, trading just above the $110,000 level at the time of writing. While some analysts opine that the crypto bull run may be over, on-chain data suggests that there is at least one more major leg up ahead for BTC. Bitcoin Bull Market Over? Not Quite According to a CryptoQuant Quicktake post by contributor CoinCare, as much as 50,000 BTC has been withdrawn over the past two days from crypto exchange Kraken. This was followed by another major withdrawal of 15,000 BTC. The CryptoQuant analyst stated that such significant withdrawals are not something that is typically observed near the peak of a bull market cycle. Instead, at market tops, exchanges witness an influx of BTC or other cryptocurrencies, signalling distribution. Although retail demand for BTC is currently fragile, a few big wallets are still accumulating BTC in large quantities. Past data shows that retail demand for BTC surges rapidly at bull market tops. However, the current tepid demand suggests that BTC has “at least one major leg up ahead.” That said, fellow CryptoQuant analyst caueconomy offered a contrasting take. According to their analysis, major BTC holders continue to reduce their exposure to the digital asset, recently reaching the largest coin distribution in 2025. Notably, BTC whale reserves have tumbled by 100,000 coins in the past 30 days, showing high risk aversion among large investors. As a result, heightened selling pressure has been weighing down on the BTC price, pushing it below $108,000 in late August. The analyst added: At this time, we are still seeing these reductions in the portfolios of major players, which may continue to pressure Bitcoin in the coming weeks. Technicals Point Toward Renewed Strength While BTC whales – investors holding 1,000 to 10,000 BTC – may be reducing their exposure to the cryptocurrency, technicals point toward further room for growth for the leading digital asset by market cap. For instance, noted crypto analyst Titan of Crypto shared the following chart on X, saying that BTC is close to invalidating the bearish double-top pattern on the daily chart. Once BTC convincingly pushes above the neckline, it could provide new bullish momentum to the asset. That said, there are some signs of caution. For instance, crypto analyst Doctor Profit recently stated that if BTC fails to defend the $107,000 – $108,000 support level, then it may risk falling all the way down to $90,000. Similarly, a breakdown below the $98,000 level could spell disaster for the flagship cryptocurrency. However, the long-term bull case for BTC remains intact. At press time, BTC trades at $110,460, down 0.9% in the past 24 hours.

Vale (NYSE: VALE) has officially reopened the Capanema iron ore mine in Ouro Preto, Minas Gerais, after a 22-year halt, as part of an investment strategy worth R$ 67 billion ($12.2 billion) through 2030. The reactivated Capanema unit, which received about R$ 5.2 billion ($950 million) in investments, will operate without using water in processing, generating no tailings and removing the need for dams. The shift toward dry processing has been a central goal for Vale following the deadly collapses of two tailings dams in Minas Gerais in 2015 and 2019, disasters that killed hundreds of people and caused widespread environmental devastation. The majority of Vale’s upcoming investments in Minas Gerais will be directed toward expanding dry tailings stacking and filtration solutions. The goal is to reduce the reliance on dams in the state from 30% today to 20%. The site will also feature five autonomous haul trucks and incorporate circularity solutions by reprocessing iron ore from an old waste pile. Vale shares were up 0.5% on Thursday morning in New York, giving the company a market capitalization of $43.6 billion. Boost to production The mine is expected to add around 15 million tonnes per year (Mtpa) to Vale’s iron ore output, supporting the company’s production guidance of 340–360 Mtpa by 2026. “Capanema reinforces our commitment to a more responsible mining process — minimally invasive and driven by technology and innovation for optimal resource use and decarbonization,” said Gustavo Pimenta, Vale’s CEO. Vale employs around 63,000 people, including contractors, and its operations account for roughly 3.5% of Minas Gerais’ GDP. Over the past two years, the state has been responsible for nearly 45% of Vale’s total iron ore production.

Freeport-McMoRan (NYSE: FCX) is injecting another C$75 million ($54m) into Amarc Resources’ (TSX-V: AHR) JOY copper project in Canada’s British Columbia, moving into stage two of an earn-in agreement signed in 2021. The investment requires the Arizona-based miner to spend at least C$10 million ($7m) annually over five years, giving it an additional 10% interest in JOY. Freeport is now the project operator, while Amarc has been appointed under a services agreement to manage exploration programs. The 2025 JOY exploration program, budgeted at over CAD $12M, is fully funded by Freeport.Drilling is already underway, with three rigs focused on expanding the high-grade, near-surface AuRORA deposit— a copper-gold-silver find discovered in 2024 at the previously untested Northwest Gossan target. Amarc chief executive Diane Nicolson said the deal sets the stage for significant growth.“The groundwork is laid to significantly advance the exciting new, high grade, near surface, gold-rich porphyry copper-gold-silver AuRORA Deposit which remains open to expansion (…) Additional drilling and survey work across the JOY District aims to deliver more major copper-gold discoveries,” she said. Nicolson added that the AuRORA discovery could be a cornerstone for both the JOY claims and the broader Toodoggone region, where exploration is accelerating. Amarc shares rose 3.6% to C$0.86 on Thursday in Toronto, valuing the company at about C$196 million ($141m). Alongside JOY, Amarc is advancing the DUKE and IKE porphyry copper-gold districts in central and southern B.C.

US President Donald Trump’s war against the Federal Reserve may send gold prices to as high as $5,000 an ounce by driving down investor confidence in the dollar, says Goldman Sachs Group. In a note published Thursday, the bank’s analysts warned that Trump’s attempt to interfere with the US central bank could further erode trust in dollar-denominated assets, thereby adding to gold’s safe-haven appeal. The note, first seen by Financial Times, comes just a day after gold rallied to a new all-time high above $3,560 an ounce. Bullion has now risen by 35% so far this year, as investors and central banks piled into the metal as a hedge against political uncertainty and US debt worries. Click on chart for live prices. The latest rise was fueled by widening expectations that the US will begin to cut interest rates, a scenario that benefits non-yielding assets such as gold. The monetary easing could become even more aggressive should the Trump administration succeed in politicizing the Fed, which sparked concerns amongst some investors. “A scenario where Fed independence is damaged would likely lead to higher inflation, lower stock and long-dated bond prices and an erosion of the dollar’s reserve currency status,” wrote Daan Struyven, co-head of global commodities research at Goldman Sachs. On the other hand, “gold is a store of value that doesn’t rely on institutional trust”, Struyven added. Bullish forecasts The bank’s base case is that gold could continue its recent rise and achieve an average price of $3,700 by year-end, then $4,000 by mid-2026, assuming that central bank buying remains robust. However, this scenario does not factor in the potential “big move” out of dollar assets, such as bonds, by private investors, which Goldman says could push gold even higher. “If 1% of the privately-owned US Treasury market were to flow to gold, the gold price would rise to nearly $5,000 per troy ounce,” Goldman’s Struyven wrote. “We are double overweight gold,” said Arun Sai, multi-asset portfolio manager at Pictet Asset Management, told the Financial Times, predicting that there could be another “leg up in gold” given the recent Fed drama, in reference to Trump’s unprecedented move to fire Governor Lisa Cook. Goldman’s call on gold echoes the thesis built by JPMorgan, which said earlier this year that under the current macroeconomic climate, the yellow metal could realistically reach $6,000 an ounce even with a small allocation away from US assets.

The British pound has edged lower on Thursday. In the North American session, GBP/USD is trading at 1.3177, down 0.19% on the day. The pound has been busy and moved higher on Wednesday, with gains of 0.42%. This followed massive losses of 1.1% a day earlier, after UK gilts surged to a 27-year high. Bank of England Governor Bailey testified before the Treasury Committee hearings on Wednesday. Bailey said that he expected interest rates would continue to move "downwards gradually over time" but that there was "considerably more doubt" as to when the BoE would lower rates. Members of the BoE's Monetary Policy Committee are split over monetary policy. MPC member Alan Taylor, who joined Bailey at today's hearing, said he favors four or five rate cuts a year, a much more dovish stance than Bailey. Taylor also said that the UK economy was heading for a 'soft landing' but was fragile. The BoE is stuck between a rock and a hard place, as the economy is weak and could use a rate cut, but inflation has accelerated and hit 3.8%, close to double the BoE's target of 2%. Last month, the BoE had to go through two rounds of voting before deciding to cut rates after a close 5-4 vote. The BoE meets next on September 18. The US releases a key non-farm payroll report on Friday, ahead of the Fed meeting on September 17. The market estimate stands at 75 thousand, almost unchanged from the July gain of 73 thousand, which was well below expectations. Another weak reading would likely lead to voices calling for the Fed to deliver a jumbo half-point cut at the upcoming meeting. GBP/USD Technical GBPUSD has pushed below support at 1.3441 and tested 1.3422 earlier. The next support level is 1.3404There is resistance at 1.3459 and 1.3478 GBPUSD 4-Hour Chart, September 4, 2025 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.

New data from Santiment has revealed that the top 10 Shiba Inu (SHIB) addresses control over 62% of the entire token supply. The crypto analytics platform shared the update on Tuesday, posting percentages of supply held by the top blockchain wallets of popular Ethereum-based tokens on X. Santiment Data Reveals Top 10 Wallets Hold Over 62% Of Shiba Inu Supply According to the Santiment report, the concentration of Shiba Inu supply in the hands of the top 10 wallets is striking. According to the data, out of Shiba Inu’s original one quadrillion tokens, 62.3% are now controlled by only ten addresses. This figure amounts to around 623 trillion SHIB tokens. Public blockchain data available on Etherscan offers an even closer look at these leading Shiba Inu addresses, giving more detailed information about the wallets and the amounts of SHIB they currently hold. The biggest wallet in this group is the official Shiba Inu burn address created when Ethereum co-founder Vitalik Buterin sent over 410 trillion SHIB to the address in 2021. This address contains 410.43 trillion SHIB, making it the largest single holder in the ecosystem. Tokens in this wallet are considered permanently removed from circulation. Another primary address also holds a large amount of SHIB. This wallet contains about 53.37 trillion tokens, equal to 5.33% of the total supply. The wallet may be associated with a decentralized exchange or a smart contract. These two top wallets together already make up a large part of the Shiba Inu supply, while a mix of exchanges and other entities fills the rest of the list. Exchanges Dominate The Biggest Shiba Inu Holdings The data also shows that several of the largest wallets belong to major centralized exchanges. Robinhood appears on the list as one of the most oversized holders. The wallet linked to Robinhood currently holds 39.27 trillion SHIB, which represents 3.92% of the total supply. Binance is also a leading holder of Shiba Inu. The address labeled Binance Hot Wallet 20 contains 30.71 trillion tokens, or 3.07% of the total supply. Another address, Binance 28, holds 19.51 trillion SHIB, equal to 1.95%. Crypto.com is another exchange with a large wallet among the top 10. The wallet connected to Crypto.com holds 29.83 trillion SHIB. This number represents 2.98% of the supply. Other large wallets on the list include one address with 12.04 trillion SHIB, which makes up 1.2% of the total. Another holds 11.41 trillion tokens, equal to 1.14% of the supply. A separate wallet contains 9.04 trillion SHIB, or 0.9%. Finally, the tenth-largest Shiba Inu holder controls approximately 7.65 trillion tokens, which equates to 0.76% of the total supply. The wallet may also be related to a decentralized exchange.

US ISM Services PMIs just got released at 52 vs 51 expectations, a positive surprise. US PMIs – MarketPulse Economic Calendar Prices paid are still way too high for a comfortably dovish FED, but it seems like this component isn't accelerating anymore. For the rest, nothing shocking: The employment component is still in contraction but not disastrous and new orders are increasing again, a positive after the tariff-led decrease. You can access today's ISM report right here. Next step will be tomorrow's NFP release which will shape up, with the September FOMC Meeting (September 18), the tone for the rest of the year. Don't forget to stay in touch with the views from NY FED's Williams coming up at 12:05 (holds high influence on the FED and votes at every meeting) and later today Goolsbee's meetings (voter in 2025). For now the US picture looks like a cooling one (far from catastrophic!). Except for a major downward surprise tomorrow, there shouldn't be any reason to panic. Reactions are small: A global market view Market Overview, September 4, 2025 – Source: TradingView Market reactions are very muted as Participants stay put for tomorrow's session – Anxiety is still high. Only notable move would be Cryptocurrencies still seeing some profit-taking flows. 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.

The Swiss franc has edged lower on Thursday. In the North American session, USD/CHF is trading at 0.8052, down 0.13% on the day. Swiss CPI declines in August Swiss inflation declined in August for the first time since January. CPI slipped 0.1%, following the July reading of zero and the market estimate of zero. Yearly, CPI rose 0.2%, unchanged from July and in line with the market estimate. The soft inflation report could support the case for the Swiss National Bank to return to negative interest rates. The SNB had a negative rate policy in effect for eight consecutive years until 2022, when high inflation forced the bank to sharply tighten policy. The markets widely expect the SNB to hold rates at this month's meeting, but if inflation continues to sag, there will be pressure on the central bank to lower rates. SNB President Martin Schlegel has stressed in the past that the central bank could revert back to negative rates if necessary but would try to avoid doing so since it causes difficulties for businesses and consumers. The SNB is also keeping a close eye on the value of the Swiss franc. The Swiss currency has soared against the US dollar, gaining 11.3% since the start of the year. In June, USD/CHF fell below the psychologically significant 0.80 level for the first time 2011. The central bank does not want the franc to continue appreciating, since it means that Swiss exports are more expensive and thus less competitive. US tariffs have dealt a blow to the export-reliant Swiss economy. Switzerland has had to absorb US tariffs of 39% on most goods, which has put the country at a serious disadvantage against the neighboring European Union, which faces tariffs of only 15% on most goods. USD/CHF Technical USD/CHF is testing resistance at 0.8045. Next, there is resistance at 0.8054 and 0.80640.8035 and 0.8026 are providing support USDCHF 4-Hour Chart, September 4, 2025 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.

Coinbase CEO Brian Armstrong announced on Wednesday that he aims to have 50% of the cryptocurrency exchange’s daily code generated using artificial intelligence by October 2025, stating that the platform is already operating at 40% AI coding. The Coinbase stock, COIN, is down 0.5% today, according to Yahoo Finance, potentially signaling a poor reception by investors regarding Armstrong’s comments yesterday. The concept of “vibe coding” has gained popularity this year, thanks in part to computer scientist Andrej Karpathy, who is the former senior AI director at Tesla and the founder of Eureka Labs. In his explanation, vibe coding refers to relinquishing active oversight of code and fully accepting AI-generated suggestions. This approach often involves inserting error messages without fully understanding them and allowing projects to develop largely beyond human comprehension. “Sometimes the LLMs can’t fix a bug so I just work around it or ask for random changes until it goes away. It’s not too bad for throwaway weekend projects, but still quite amusing,” Karpathy posted on X.“I’m building a project or webapp, but it’s not really coding – I just see stuff, say stuff, run stuff, and copy paste stuff, and it mostly works.” Google has even created a Vibe Coding Tools and Guides page to break down the practice. The tech giant breaks it down into two categories, and reads as follows: “Pure” vibe coding: In its most exploratory form, a user might fully trust the AI’s output to work as intended. As Karpathy framed it, this is akin to “forgetting that the code even exists,” making it best suited for rapid ideation or “throwaway weekend projects,” where speed is the primary goal. Responsible AI-assisted development is the practical and professional application of the concept. In this model, AI tools act as powerful collaborators or “pair programmer.” The user guides the AI but then reviews, tests, and understands the code it generates, taking full ownership of the final product. RELATED: 10 Best AI Crypto Coins to Invest in 2025 Armstrong’s AI Coding Comments Not Surprising: Most Tech Giants Already Deploying AI For Coding Y Combinator CEO Garry Tan stated that a quarter of the accelerator’s Winter 2025 batch relied on AI for 95% of their code. Earlier this year, Microsoft CEO Satya Nadella also revealed that the company now uses Artificial Intelligence to write between 20% and 30% of the code powering its software. At its Q3 financials in 2024, Google CEO Sundar Pichai announced that AI generates 25% of new code at Google. These numbers are no surprise, as several tech figureheads have been saying for nearly two years that AI will eventually write most, if not all, coding. In January 2025, Mark Zuckerberg appeared on the Joe Rogan Experience podcast, stating that “AI will write most software soon”, telling Rogan that Meta had already launched an AI bot that acts as a mid-level software engineer. Lastly, back in March, Anthropic CEO Dario Amodei stated during a podcast appearance that he believed “AI will write 90% of code in six months.” The six-month deadline for Amodei’s claims is approaching at the end of September, and currently, it doesn’t appear that 90% will be accurate. However, with companies such as Google, Coinbase, and Microsoft operating at levels between 25% and 40% for AI-generated code, it is likely that Amodei’s 90% statement will soon become accurate. (SOURCE) As of right now, the COIN share price is down -0.41% on the day and -2% on a five-day timeframe and is currently trading for $302.2. A bullish reversal across the crypto markets, combined with time to allow Brian Armstrong’s AI comments to settle, will likely lead to COIN climbing back above $400, a level not seen since July 2025. EXPLORE: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates The post Brian Armstrong: “40% of Daily Code Written at Coinbase is AI-generated”, COIN Stock Falls appeared first on 99Bitcoins.

Cardano’s mood music has flipped. Even as ADA has rebounded about five percent from its late-August lows, on-chain analytics firm Santiment says the asset’s typically optimistic retail crowd has swung to its most negative stance in five months. In an X post accompanying its sentiment chart, the firm wrote: “Cardano has quietly seen its normally optimistic crowd start to turn bearish. After the lowest sentiment recorded in 5 months, $ADA’s price is +5%. Patient holders and dip buyers during this three week downswing should root for this trend of bearish retailers to continue.” Santiment framed that shift in classic contrarian terms. “Prices typically move the opposite direction of the crowd’s expectations. When small traders sell off their bags out of impatience and frustration, it is generally the key stakeholders who accumulate and drive up prices again,” the post added. The graphic shared by the firm plots ADA’s price against a running ratio of bullish versus bearish social commentary and annotated three distinct phases over the past month: an early-August “greed” spike where the bullish-to-bearish ratio surged to roughly 12.8:1 and was followed by a pullback; a mid-August “fear” pocket near 2.0:1 that preceded a rally; and, most recently, the most bearish reading in five months around 1.5:1, coinciding with ADA’s +5% bounce. The sequencing in Santiment’s chart supports the firm’s message that outsized crowd optimism or pessimism frequently appears near short-term inflection points. The short-term price path into that rebound has been marked by a three-week downswing that began around August 14. Cardano Faces Decision Zone Independent market analyst Quantum Ascend ties the bounce to a clearly defined higher-time-frame structure. Posting a daily ADA/USD chart, the analyst wrote: “ADA Respecting a channel on the high time frame dating back to early June. Higher Highs, Lower Lows. Short-term decline dating back to August 14 channeling as well. Price Currently sitting atop the .382 Fib at $0.82. Cardano’s decision point appears near, but we still need to be looking to the Macro. Regardless, I’m very bullish long-term.” In Quantum Ascend’s view, ADA is tracking an ascending channel that has contained price action since mid-June. The short, blue corrective channel from August 14 sits inside that broader up-channel and has carried price back to the lower end of the channel as well as a Fibonacci retracement cluster derived from the June–August advance. The analyst’s chart places the 0.382 retracement near $0.821, which has acted as first support and the immediate “decision point.” Below that, the same mapping highlights the 0.309 retracement around $0.762 and the 0.236 near $0.702 as deeper pullback areas inside the macro structure. Overhead, the analyst’s levels mark successive checkpoints at the 0.5 retracement near $0.879, the 0.618 near $1.043, the 0.702 around $1.083, the 0.786 near $1.151, and the 1.0 extension around $1.326—levels that also align with prior supply pockets and the upper boundary of the ascending channel later in the quarter. At press time, ADA traded at $0.8177.

Gem Diamonds (LON: GEMD) is buckling under the weight of a worsening diamond market, reporting on Thursday an attributable loss of $11.7 million for the six months ended June 30. The Africa-focused miner took a $10.7 million goodwill impairment as rough diamond prices continue to fall, supply outpaces demand, and lab-grown stones gain ground. The results mark a sharp reversal from the $2.1 million profit posted in the same period of 2024. At its flagship Letšeng mine in Lesotho, Gem Diamonds assessed the recoverable amount of the operation and recorded the impairment to bring the carrying value in line with the market reality. “The industry continues to face significant challenges. Sustained pricing pressure, softer demand in key markets, ongoing macroeconomic and geopolitical uncertainty and tariff uncertainties in respect of India combine to create difficult trading conditions,” chief executive Clifford Elphick said. During the six months to June 30, the company recovered 47,125 carats of diamonds,down from 55,873 carats a year earlier. Average prices slipped to $1,008 per carat from $1,366, dragging revenue down to $45.4 million from $78 million in 2024. Further cost cuts Despite hitting production targets, Gem Diamonds conceded it has not been insulated from tumbling prices and adverse currency swings. In response, the miner said it would accelerate cost cuts, including scaling back Letšeng operations, temporary salary reductions for board and senior management, and laying off about 240 employees — roughly one-fifth of the mine’s workforce. Shares sank more than 35% in mid-afternoon trading on the London Stock Exchange, last changing hands at 4.3 pence. That values the company at just £6.13 million ($8.2 million). Industry under pressure Gem Diamonds’ measures mirror industry-wide distress. In May, Lucapa (ASX: LOM) entered administration after years of weak prices, later securing a lifeline from a Dubai-based investor group. Lucara (TSX: LUC), with operations in Botswana and Canada, also warned in May there was “significant doubt” about its ability to remain a going concern. In July, Burgundy Diamond Mines (ASX: BDM) halted open pit operations at its Ekati mine in Canada’s Northwest Territories, triggering mass layoffs. All three operating diamond mines in the region — Ekati, Diavik and Gahcho Kué — are facing eventual closure, with Diavik set to wind down next year and Gahcho Kué by 2030. Ekati’s long-term future remains uncertain. De Beers, the world’s leading diamond producer by value, has been in limbo since Anglo American (LON: AAL) announced plans last year to sell or spin off the unit. Anglo has twice cut De Beers’ valuation, most recently to $4.1 billion in February, but no buyers have emerged. Botswana, a key partner in De Beers, is reportedly seeking to take control.

ADP Private Employment data This morning's data releases – MarketPulse Economic Calendar In the long awaiting for tomorrow's Non-Farm Payrolls release, Participants can't get enough of more labor data, particularly as ADP employment recently turned out to be a more accurate preview of the US Employment trends (as large revisions to NFP later confirmed. The report came at 54K vs 65K expectations a relatively small miss, but miss nonetheless – and this report reiterates the ongoing downtrend in private employment. ADP Employment in the past 3 years, September 4, 2025 – Source: TradingEconomics Read More: Hesitant equities and (maybe) better relations between US and Canada — North American mid-week Market updateMarkets Already Looking to NFPJobless Claims and Unit Labor Costs The Jobless claims rose to 237K from 230K, with the continuing claims still hanging around November 2021 levels. Continuing Claims since 2023 – A steep rise – Source: TradingEconomics The FED will still be appreciating the Unit Labor Cost data which came at 1% instead of 1.6%, which will help with inflationary pressures. In case you didn’t know, Unit Labor Costs measure how much businesses pay workers to produce one unit of output. Rising costs signal wage pressures and potential inflation, while falling costs suggest easing price pressures. Market reactions are very slow as Markets seem to not exaggerate tomorrow's NFP release which may still differentiate largely from this morning's reports. 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.

Historical data provides a bullish outlook for the XRP price this month, with the altcoin likely to record significant gains based on past performance. Specifically, the average monthly returns show that XRP could even record double-digit gains. Average Monthly Returns Point To Notable Gains For The XRP Price Cryptorank data shows that the XRP price has historically recorded an average monthly return of 13.8% in September. This suggests that the altcoin could again record positive returns this time around, especially as it looks to reclaim the psychological $3 level. Meanwhile, it is worth mentioning that the altcoin has closed the last three Septembers in the green. In September 2022, the XRP price recorded a gain of 46.2%, its largest over the past 4 years. It also saw an increase of almost 8% in September 2023. The altcoin has so far recorded a gain of nearly 3% this month and looks on course to replicate its historical positive performance in September. Notably, there are bullish fundamentals that could spark a run for the XRP price. This includes the projected 25 basis points (bps) rate cut that the Fed is expected to make at the September 17 FOMC meeting. There is currently a 99.7% chance that the Fed will make this cut, according to CME FedWatch data. A Fed rate cut is bullish for altcoins, including XRP, as it could lead to increased risk-on sentiment among investors and cause more liquidity to flow into these assets. Meanwhile, the XRP ETFs are expected to receive the SEC’s nod in October, and given the market’s forward-looking nature, the XRP price could rally in anticipation of this occurrence next month. The ETFs are expected to attract new capital into the altcoin’s ecosystem. XRP Eyes Rally To $3.40 In an X post, crypto analyst Egrag Crypto predicted that the XRP price could rally to around $3.40. He noted that with the altcoin currently trading at around $2.877, all eyes are on how it will perform around this level. If XRP closes above $3.077, the analyst stated that it could increase the chance of breaching the $3.40 mark. Interestingly, the analyst suggested that the XRP price could rally by over 200% and reach $6.12 if it successfully breaches the $3.40 mark. His accompanying chart showed that XRP could claim this $6 range this month. Meanwhile, in another X post, Egrag Crypto said that the range of $3.077 to $3.13 is a key area, as a strong close above it with high volume could pave the way for the next move. At the time of writing, the XRP price is trading at around $2.85, up in the last 24 hours, according to data from CoinMarketCap.

Kodal Minerals (LON: KOD) has secured an export permit for spodumene concentrate from its Bougouni lithium mine in southern Mali, clearing a key hurdle for the project’s first shipments. The permit authorizes exports of up to 125,000 tonnes of concentrate, pending completion of final administrative steps. It was confirmed in a letter issued by the Ministry of Mines and signed by Mines Minister Professor Amadou Keita. “The granting of the export licence is a critical step for the development of the Bougouni project, as well as Mali’s burgeoning spodumene industry,” Kodal chief executive Bernard Aylward said. “The permit further underpins the continued support of the Mali Ministry of Mines and the government and their interest in the further development and expansion of Bougouni.” The document also confirms pricing will be based on the Shanghai Metal Market reference price for spodumene, though authorities retain the right to verify and adjust prices. Kodal has already agreed to sell all Bougouni output to China’s Hainan Mining, with pricing linked to the SMM benchmark. Logistics The company has also signed a transport deal with a leading Malian logistics operator to move concentrate from the mine to port facilities in Côte d’Ivoire. Kodal said it will pay all applicable taxes, duties and levies. Located 170 kilometres south of Bamako, Bougouni aims to produce 11,000 tonnes of spodumene concentrate per month. The mine is run by Les Mines de Lithium de Bougouni SA, a Mali-registered company in which Kodal holds a 49% stake. Bougouni is Mali’s second lithium operation, following Ganfeng Lithium’s Goulamina mine, which began producing in December 2024.

On September 3, Ondo Finance announced the launch of Ondo Global Markets. Could Ondo’s tokenized Wall Street model reshape global equity markets, and what does it mean for the future of stocks? Let’s dive in. The platform is designed to let non-U.S. investors access tokenized versions of over 100 U.S. stocks and ETFs anytime. The company also plans to expand this list to more than 1,000 by the end of the year. Marketed as the start of “Wall Street 2.0,” Ondo presents the rollout as a step forward in global finance, much like how stablecoins made money markets more accessible. With this system, users can buy, sell, transfer, mint, and redeem tokenized securities around the clock. Minting and redemptions, however, still need to align with market hours, and all activities remain bound by jurisdictional and legal rules. To protect investors, Ondo has established strong safeguards, including daily third-party checks of reserves, a bankruptcy-remote framework, and a security agent that holds first-priority security rights over the assets. A key part of the model is liquidity. Tokenized stocks from Ondo reflect the liquidity of the securities they represent, which means trades can happen with low slippage, without the need to build fresh market depth on-chain. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025 ONDO Price Analysis: Can the Token Hold Bullish Momentum After Wall Street 2.0? According to TradingView data, the ONDO price is trading at $0.93 and has declined slightly by -1% during the session. Despite this, ONDO is still holding gains after a sharp rally following the announcement. (Source – ONDO USDT, TradingView) The chart shows a strong reversal after a period of selling pressure that had pushed the token below $0.87 at the start of September. The buyers acted aggressively after the Global Markets news, and the token reached intraday highs of $0.9718. The tall green candles assure us of the high demand among the buyers, particularly during the past two days. This rebound volume soared up to 389.9K, significantly more than the late-August average. This is where a tidal wave of investors came in, with Ondo getting coverage around its Wall Street 2.0 narrative. It also indicates that traders could be pricing ONDO with the prospect of long-run on-chain equities in mind. Crypto Winkle wrote on X that this update could turn Ondo Finance into a leading force in the RWA market. Developers are also part of the plan, which includes Ondo providing APIs for integration into apps, exchanges, robo-advisors, and derivatives platforms. This allows easy access to tokenized U.S. stocks within different services. Ondo’s setup involves using a US-registered broker-dealer to purchase and hold real securities, such as AAPL shares. In return, the investor receives an on-chain token like AAPLon, which mirrors the full economic rights of the asset. These tokenized assets work as total return trackers. That means dividends are reinvested automatically into more tokens, minus any withholding taxes. As a result, the value of each token reflects the complete return of the underlying security. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 The post Inside ONDO Crypto Plan To Take Wall Street On-Chain: Are Stocks Finished? appeared first on 99Bitcoins.

Baseline: +74k NFP; unemployment rising to 4.3% from 4.2%.July: +73k with -258k net downward revisions; mounting political pressure on the BLS.Labour demand is cooling: Atlanta Fed Job-Switchers wage growth 4.3% y/y; NFIB shows vacancies easier to fill.Implications: tilts toward a 17 Sep Fed cut; risks from upside surprises and data-quality uncertainty. The August employment report is likely to confirm a cooling in labour demand and reinforce a dovish signal for the Federal Reserve. We expect nonfarm payrolls to rise by about 74k, with the unemployment rate increasing from 4.2% to 4.3%. US unemployment rate, source: Bloomberg. Lessons from July: data, revisions, and political pressure Last month unsettled markets not only because payroll growth in July was weak at 73k, but also because May and June were revised down by a combined 258k. In response, President Donald Trump accused the Bureau of Labor Statistics of manipulation and dismissed its head the same day. He has nominated the chief economist of a conservative think tank as successor, but the appointment still requires Senate confirmation. This raises concerns about politicisation of the statistical process and the credibility of subsequent releases. US employment change, Bloomberg data. Supply or demand: what is slowing hiring Tighter immigration policy may have constrained labour supply at the margin, but it could be a secondary factor. Evidence points more clearly to softer demand for workers. Household surveys indicate that finding a job has become more difficult. According to the Atlanta Fed, job switchers no longer enjoy higher wage gains than job stayers. The NFIB survey shows small firms are finding it easier to fill vacancies. These signals align with a deceleration in hiring. On the chart of the Atlanta Fed Wage Growth Tracker – Job Switchers (i.e., the median wage growth of people who changed jobs over the past year), wage dynamics are steadily slowing to 4.3% year on year in July 2025. This points to a fading job-switching premium and weakening demand for workers, which typically eases wage pressure in services and supports disinflation. The current level is close to conditions seen before the post-pandemic boom, thus arguing for a more accommodative Fed policy. Chart of the Atlanta Fed Wage Growth Tracker – Job Switchers, source: Bloomberg August forecast: 74k jobs and a higher unemployment rate Given the scale of recent revisions, the initial print should be read with caution. Market baseline is a 74k increase in payrolls, close to July’s 73k. Economists surveyed by Bloomberg expect the US unemployment rate to rise from 4.2% to 4.3%., reflecting weaker demand for labour. Implications for Fed policy Such an outcome would strengthen the case for a rate cut at the 17 September meeting. Moderating payrolls and a higher jobless rate would support a gradual shift toward easier policy, especially after the sizeable downward revisions weakened the recent labour market narrative. At the same time, uncertainty around the integrity of the statistical process argues for care in interpreting first releases. Market implications Softer labour data would typically pull down front-end yields and reinforce a gentler rate path, which often weighs on the US dollar against risk-sensitive currencies and supports assets that benefit from a lower rate. However, questions about data quality could keep near-term volatility elevated across rates, FX, and equities. Risks and watchpoints Upside surprises in payrolls, particularly if accompanied by firm wage growth, could temper dovish pricing. Another round of negative revisions would deepen the perception of cooling. The interaction between job growth, unemployment, and pay dynamics will determine both the strength and the speed of any policy easing. 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 is entering a fragile stage after days of selling pressure and uncertainty pushed the price into consolidation around the $110,000 level. Bulls are working to defend this key area, but momentum has clearly faded. The market now finds itself in a holding pattern, with investors cautious about whether Bitcoin will stabilize or break lower in the sessions ahead. Despite the weakness, there are no clear signals yet of a deeper correction. Historically, retracements within ongoing bull markets often serve as resets rather than trend reversals, but the pressure on Bitcoin has nonetheless sparked debate about its short-term direction. Holding above current levels is becoming increasingly important, as failure to do so could shift sentiment further in favor of the bears. Top analyst Axel Adler described the current environment as a neutral-bearish base, meaning flows and price action lack the conviction needed for a decisive bullish push. Until stronger demand emerges, Bitcoin’s recovery is likely to be limited to technical bounces rather than sustained rallies. Bitcoin Stuck In Neutral-Bearish Base According to top analyst Axel Adler, Bitcoin’s current structure remains fragile as both price and derivative flows sit below 50, signaling weakness across critical indicators. Adler emphasizes that while short-term rebounds are possible, the market lacks the conviction required for a sustained uptrend. With taker flows still negative and weak, any recovery from present levels is likely to be a mean-reversion bounce toward $113K, aligning with the Fair Value and mid-30-day range, rather than the beginning of a new bullish phase. This environment suggests that risk appetite remains absent, leaving the market vulnerable to further tests of lower boundaries. Adler notes that unless flows shift meaningfully, price rallies will likely remain capped and quickly fade as selling pressure reemerges. The nearest bullish setup would require stabilization of flows that could push BTC toward the $113K–$115K region, a technical recovery zone that would ease immediate bearish sentiment but still fall short of confirming a regime shift. For a true change in market structure, Adler points to two key thresholds: Flow >55 and Price Index >50. Only when both conditions are met will Bitcoin have the foundation for a stronger, trend-confirming rally. Until then, the market faces an elevated risk of repeated retests of support zones, with traders closely monitoring whether BTC can hold above $110K or slip further into correction territory. BTC Holding the Line Above $110K Bitcoin continues to consolidate around the $110K–$111K zone, showing resilience after weeks of sharp selling pressure. The chart highlights how BTC has bounced from recent lows near $108K but still struggles to reclaim higher momentum. The 50-day moving average now acts as resistance, capping the upside attempts and reflecting waning bullish strength. Despite the pullback from the $123K all-time high, the structure remains intact above the 200-day moving average near $101K, which has consistently served as a long-term support. The current price action shows a market caught in balance: bulls are defending demand, but bears maintain pressure as rallies face rejection around the $112K level. The flat trajectory of the 100-day moving average reinforces the consolidation phase, suggesting that a decisive breakout is needed to confirm direction. If Bitcoin closes above $113K in the short term, it could set up a retest of $118K, the mid-range level that has acted as both support and resistance. Failure to hold the $110K level could expose BTC to repeated tests of $108K and, ultimately, the psychological $105K zone. For now, Bitcoin’s fate hinges on whether buyers can stabilize flows and absorb ongoing selling pressure. Featured image from Dall-E, chart from TradingView

Overview: The US dollar is firm against the G10 currencies today but is mostly trading inside yesterday's ranges. After yesterday's disappointing JOLTS report attention turns to the ADP estimate today, ahead of tomorrow's BLS report. The lack of follow-through selling after yesterday's losses may be encouraging some short-term momentum traders to move to the sidelines. The greenback is also mostly higher against emerging market currencies, though a few Asia Pacific currencies bucking the move, including a small gain for the Chinese yuan. The pullback in yields seen yesterday is continuing today. Steady demand at Japan's 30-year bond auction helped JGBs rally. European benchmark yields are off 3-5 bp with spreads over Germany narrowing slightly, including France. The 10-year US Treasury yield has slipped below 4.20%. Equities, following the gains in the S&P and Nasdaq yesterday, are mostly higher. The notable exception in China and Hong Kong, following reports that suggested Beijing officials are considering measure to cool the recent rally. Europe's Stoxx 600 is building on yesterday's 0.65% recovery after Tuesday's 1.5% slide. US index futures are trading with a firmer bias, as well. After surging to a record $3578.5 yesterday, profit-taking sent gold down a little through $3512 today before buyers re-emerged. October WTI is extending its pullback after briefly trading above $66 on Tuesday. It fell to almost $63.70 yesterday and nearly $63.00 today. USD: The disappointing July JOLTS report pushed what was an offered Dollar Index lower. It had peaked earlier slightly above Tuesday's high, slightly shy of 98.65 and returned to almost 98.00. It is consolidating today in a narrow range mostly between 98.10 and 98.35. Still, when everything is said and done, with one brief exception of Monday's low, the Dollar Index remains within the range set on August 22, when Fed chief Powell spoke at Jackson Hole (~97.55-98.85). There is a slew of US economic reports today. Given that the deterioration of the labor market is behind the elevated chances of a Fed rate cut later this month, the ADP private sector job estimate may be the most important. The median forecast in Bloomberg's survey stands at 68k, down from 104k in July. Given the US tariff offensive, the July trade balance will also draw attention. The advanced goods deficit widened by 22% to $103.6 bln. Imports jumped 7.1% and exports slipped by 0.1%. The overall trade deficit was $582.7 bln in H1 25, up from $421.2 bln in H1 24, though distorted by front-running the tariffs. The ISM services report is more important than the final services and composite PMI. The ISM services were slightly above 50 in July, while the services PMI was at 55.7 (before slipping to 55.4 in August, according to the preliminary estimate. Lastly, the accelerated confirmation hearings of Miran to the Federal Reserve will be held today before the Senate Banking Committee. Despite his earlier work, which includes sketching out how the executive could control the central bank, Miran's prepared remarks pledge to defend the independence of the Federal Reserve. What could go wrong? EURO: The euro held above $1.1600 yesterday and recovered to poke a little above $1.1680 in North America. With the exception of last Wednesday's low (~$1.1575), the euro has also been confined to the range set on August 22 (~$1.1585-$1.1745). It is in about a third of a cent range below $1.1670 so far today. The broad sideways movement has wreaked havoc with the daily momentum indicators. We note that the US two-year premium over Germany is a new low for the year, slightly below 165 bp. Last year's low was around 135 bp. It was above 200 bp as recently as late July. The eurozone reported a 0.5% decline in July retail sales, which was a bit larger than the 0.3% drag expected by the median forecast in Bloomberg's survey. Yet, it should not be surprising. Germany (-1.5%), France (-0.6%), and Spain (-0.4%) already had reported their figures. Italy reports its figures tomorrow. CNY: The dollar held below CNH7.15 on Tuesday and Wednesday. It traded inside Tuesday's range yesterday in a consolidative session and is trading within yesterday's range today. If the PBOC signaled through the setting of the dollar's reference rate that did not want the yuan to rise much more, then it may be challenged if the greenback continues to weaken. The PBOC set the dollar's reference rate higher for the third consecutive session yesterday, matching the longest run in five months. Given the dollar's heavier tone, especially in North America yesterday, the PBOC had little choice but to lower the dollar's reference rate today (CNY7.1052 vs CNY7.1108 yesterday). Two developments are noteworthy today. First, while the Federal Reserve protects it independence, China's Vice Finance Minister, and the Deputy Governor of the PBOC met today and committed to closer cooperation to support the economy. Many suspect that loose monetary policy can help support more public spending to strengthen growth. Second, Chinese financial regulators are considering measures to temper the stock market rally, which could include the removal of some short selling restrictions. The mere fact that it is being discussed weighted on Chinese equities today, sending the CSI 300 down 2.1%, the biggest loss in five months. JPY: The weak JOLTS report pushed US rates lower and dragged the dollar off its highs against the yen. The 30-year Treasury yield got as close to 5.0% without trading there before falling back below 4.90% to approach last week's settlement slightly below 4.88%. The 10-year yield Treasury yield dropped ten basis points to fray the 4.20% yield, the lower end of what has been the range since early May. The dollar has reached nearly JPY149.15 in late Asia/early Europe hours but never traded above JPY148.80 in North America before falling below JPY148. It made a marginal new low today near JPY147.80 but recovered to about JPY148.40 in early European turnover. Japan reports July labor cash earnings tomorrow. They are hovering around 3% year-over-year. Yet, when adjusted for inflation, they have mostly been falling, with a few exceptions, like the end and middle of last year. Yet consumer spending has been positive though weak, averaging a little more than 0.6% over the past three quarters at an annualized rate through Q2 25. July household spending will be reported at the same time. It is expected to have accelerated to 2.3% year-over-year from 1.3% in June. If so, it would be the third consecutive advance, the longest in three years. GBP: Neither vulnerability of the Deputy Prime Minister Rayner over unpaid taxes on a property purchase, the announcement of what seems to be an unusual late Autumn Budget Statement (November 26), or the looming fiscal challenge was sufficient to hold sterling back yesterday. Indeed, sterling rivalled the Australian dollar for the top performance yesterday among the G10 currencies. Follow-through selling from Tuesday initially took it to a new low since August 6 slightly below $1.3335. From there is recovered to almost $1.3460 new session highs, which held today. Initial resistance is seen in the $1.3470-85 area. The $1.3400-20 area offers support. The market did not respond much to the UK's new car registrations (a proxy for auto sales). They were off 2% after falling 5% year-over-year in July. The August construction PMI ticked up to 45.3 (from 44.3) but has not been above the 50 boom/bust level this year. CAD: In the better offered greenback, the Canadian dollar under-performed. It was the weakest of the G10 currencies, losing a miniscule 0.1%. Still, the greenback barely traded below Tuesday's settlement yesterday, while it held below Tuesday's high (~CAD1.3815) in lackluster activity. The US dollar is a little firmer today and threatens to extend its advancing streak for the fourth consecutive session. It is at the week's high in Europe and is probing the lower band of resistance seen in the CAD1.3825-50 area. Given the importance of the trade drag on Q2 GDP, today's July merchandise trade figures will be closely watched. Canada recorded a C$19 bln goods deficit in Q2, swelling from a little less than C$400 mln deficit in Q1. The median forecast in Bloomberg's survey is for a C$5.3 bln shortfall in July. In July 2024, the deficit was a little more than C$320 mln. AUD: The Australian dollar traded well below $0.6500 on Tuesday but held above it yesterday and rallied to almost $0.6555. Around half of the recovery occurred in the European morning and the other half when North Americans entered the fray. It is trading with a heavier bias today but still inside yesterday's range, which was inside Tuesday's range (~$0.6485-$0.6560). Australia reported its July trade balance earlier today. It defied expectations of narrowing and instead swelled to A$7.3 bln after surging to almost A$5.4 bln in June (from A$1.6 bln in May). Exports rose by 5.1% on the month, while imports fell 1.3%. Today's July figures showed household spending increased 0.5% in July, for a 5.1% year-over-year pace, the strongest in almost two years. Although Australian interest rates eased today, central bank governor Bullock noted after the stronger GDP figures earlier this week that the data was stronger than officials expected, and noted that if it continues, "there may not be many interest rate declines yet to come." MXN: Despite the greenback's struggle yesterday, the peso was unable to capitalize. The US dollar traded well within Tuesday's session in mostly featureless activity. Yesterday's low was recorded in response to the JOLTS report, a little below MXN18.66. The greenback's recovery ran out of steam in front of MXN18.73 but rose to almost MXN18.7650 today. Tuesday's range, roughly MXN18.6225-MXN18.8635 still dominates. Mexico reports June fixed investment and private consumption, July leading economic indicators, and August auto sales. While they may be useful data points for economists, they probably do not capture the imagination or attention of market participants. US jobs data and the broad direction of the dollar are more salient drivers of the exchange rate. Disclaimer

Bitcoin is clinging to $110,000 amid the boring crypto market, while Ethereum Layer-2 like Arbitrum is making news today. The total crypto market cap sits at $3.9 trillion, but the 24-hour volume is recorded at a huge $124 billion. People are now waiting for September, as August is historically bad for crypto. ARB ▼-0.86% updates is stealing the news headline today as an ex-Ripple engineer thinks that its dual-speed transactions can reshape crypto Layer-2 market dynamics. Layer-2 comes with cheaper fees and lightning fast transaction speed which pull more liquidity into it. ETH ▲0.85% also has its supply dropped as ETF inflows hit $3.87 billion just last month alone. BTC ▼-0.56% hashrate has smashed a record 1.279 zettahashes per second despite a 13% dip from August highs. Open interest stands high at $61.7 billion. Although short-term holders are selling off, institutional buys via ETFs maintain the floor. BitcoinPriceMarket CapBTC$2.20T24h7d30d1yAll time DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Crypto Market News Updates for Today: WLFI Dropping, Ena Pumping, ARB Altering Ethereum Layer-2 Arbitrum recently launched its $40 million DeFi incentive program, which impacts its liquidity and apps. Its total value locked has now exceeded $3.2 billion, edged out rivals like Polygon and Mantle. ARB Layer-2 share grows with integrations like Ronin for Web3 gaming. Fees drop to $0.0001 per swap on some chains. Ex-Ripple insights highlight how this alters Ethereum’s ecosystem, favoring efficiency over mainnet costs. (source – Defillama) On the other side, Trump,s Media coin, WLFI ▼-22.83%, alhough dumping 45% from its top, is still outperforming ENA ▼-2.44% in market cap at $5 billion versus $4.66 billion. Community proposals have pushed for WLFI buybacks, especially with rumours of insider dumping. ENA, even if its lower in market cap than WLFI, edges up 2% to above 70 cents, driven by $50 million weekly revenue from USDe stablecoin. Its delta-neutral hedging is drawing whales, which send it running 10% this week. (source – CoinGecko) Beside the above coins, today also saw news from Metaplanet who stacks another 1,009 Bitcoin from the market, and now holding 20,000 worth over $2 billion in crypto. August has seen hacks that drained $163 million across platforms, and Solana’s Alpenglow upgrade aims 150-millisecond finality, heating up Layer-1 competition. Bitcoin price has decoupled from stocks, up 0.2% while S&P dips -1.48%, and hashrate surge is showing miner confidence. WLFI is sparking debates, but with $1 billion in 24-hour volume post-listing, a perfect signal that crypto is still on. Now, can WLFI blast above its all-time high after hitting an all-time low a few hours ago? Follow us here for today crypto market news updates. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates 3 hours ago September Trap on Avax and XLM: Avalanche and Stellar Underpeforming, What Crypto to Buy Instead By Akiyama Felix As September 2025 begins, the crypto market is showing early signs of a rebound after a super volatile August. BTC ▼-0.56% is holding strong around $110,000 right now, with hash rates reaching all-time highs. ETH ▲0.85% is also gaining momentum, as last month saw it edging closer to $5,000. But despite this momentum, crypto altcoins like XLM and AVAX continue to underperform. AvalanchePriceMarket CapAVAX$10.38B24h7d30d1yAll time This month has historically been tricky for the crypto market. Known as the “September trap,” it often brings 4% average losses for Bitcoin and steeper 30–50% drops for altcoins every year. Liquidity tends to dry up after the summer, and while institutional capital is starting to return, it’s moving slowly. However, interestingly, memecoins are bucking the trend. FARTCOIN, for example, has gained over 3,100% year-over-year, driven almost entirely by community hype. StellarPriceMarket CapXLM$11.46B24h7d30d1yAll time Read the full story here. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 5 hours ago Will There Be Ethereum Supply Shock in September: Corporations Drain ETH Exchange Reserves By Akiyama Felix Ethereum is entering September under extreme supply pressure, with institutional buying and ETF demand slashing exchange reserves to historic lows. If demand stays steady, ETH could see a violent upside move this month. Corporate treasuries, staking platforms, and ETFs are locking up billions in ETH, creating artificial scarcity. With reserves near multi-year lows, even modest buying could trigger a full-blown supply crunch. EthereumPriceMarket CapETH$530.26B24h7d30d1yAll time Read the full story here. DISCOVER: Best Meme Coin ICOs to Invest in 2025 The post [LIVE] Latest Crypto Market News Today, September 4 – Arbitrum to Alter Ethereum Layer-2, Bitcoin Price Hovers at $110,000, and WLFI Still Above ENA appeared first on 99Bitcoins.

BTC USD and the wider markets are bracing for a busy Thursday of economic releases. August ADP Nonfarm Employment, Initial Jobless Claims, the ISM Services PMI, and the S&P Global Services PMI are all due. These reports will shape expectations for whether the Federal Reserve moves forward with a September rate cut. The anticipation follows weaker labor market signals and a stunted crypto market and BTC ▼-0.37%. The JOLTS report showed job openings fell to 7.18M in July, missing forecasts of 7.38M and marking the lowest reading since 2021. “The jobs number showed that we are seeing more of a slowdown in the labour market in the US,” said Shaun Osborne, chief currency strategist at Scotiabank. “For the first time since 2021, there are more unemployed people in the US than available jobs and that is a big change in the outlook.” DISCOVER: 20+ Next Crypto to Explode in 2025 Will BTC USD Hit New ATHs or Crash Below $100k? Bond Yields React to Labor Market Slowdown BitcoinPriceMarket CapBTC$2.20T24h7d30d1yAll time So if you’re following at home, here’s what’s coming out from the US today: August ADP Nonfarm Employment Change (Jobs indicator) Initial Jobless Claims (Weekly snapshot of layoffs) ISM Non-Manufacturing (Services) PMI (Released Wednesday… it wasn’t good) JOLTS (Job Openings and Labor Turnover Survey), and it was already flagged as sluggish This weak US economic data helped reverse a global bond sell-off and left crypto stagnant. The yield on 30-year Treasuries slipped 6 basis points to 4.90%, while UK gilts fell from 5.75% to 5.60% after hitting post-1998 highs. Andy Brenner, head of international fixed income at NatAlliance, said rising layoffs and weaker job openings “got my attention, and the market’s attention.” (Source: Reuters) This rebound comes as global debt issuance ramps back up, with the UK issuing a record $14B in 10-year gilts. Analysts warn that the fresh supply and sticky inflation could reintroduce volatility. On the DeFi side, stablecoin market cap rose 42% year-on-year, showing investors still want to hedge against rate-driven volatility. Solana and Ethereum TVL each gained +20% over the past quarter, while smaller chains lagged. This underscores how liquidity prefers blue-chip cryptos and scales in uncertain conditions. DISCOVER: Top 20 Crypto to Buy in 2025 Trump’s Tariffs Add Another Variable for the Fed Another US data point to pay attention to is the payrolls report, which will test how the economy absorbs Trump’s global tariffs. Analysts say tariffs have already contributed to a slowdown in manufacturing. Additionally, President Trump is moving to oust Fed Governor Lisa Cook further placing US economic control in his hands. Roger Hallam of Vanguard summed up the tension: “It’s almost a perfect storm of concerns over current fiscal policies becoming inflationary, potentially more global issuance, and not enough demand.” EXPLORE: Trump Crypto Moves Made $5Bn in 2025: How To Get Rich in Crypto Trump-Style? Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways US jobs data, bond yields, and Trump’s tariffs are shaping expectations for a September Fed rate cut. Here’s what CoinGlass and DeFiLlama data reveal about markets. This weak US economic data helped reverse a global sell-off in bonds and left crypto stagnant. The post US Jobs Data and BTC USD and Bond Market Rally Put Fed Rate Cuts in Focus appeared first on 99Bitcoins.