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Arthur Hayes has a clear answer to the market’s favorite bar fight. In an August 21 interview with Ran Neuner, the BitMEX co-founder said both Ethereum and Solana will rally hard, but he is explicitly tilted toward ETH for the remainder of the cycle. “Do I believe Solana is going to go up? Absolutely it’s going to go up. Do I believe it’s going to go up more than ETH? I don’t know. Probably not,” Hayes said. When pressed on portfolio construction, he didn’t hedge: “In terms of a position… you’d be more overweight ETH? Correct. Yes.” Ethereum Vs. Solana: Who Wins This Cycle? Neuner framed the context that has flipped the conversation from “Solana-only” to an Ethereum-led trade, citing a sequence of catalysts—from stablecoins to marquee advocates—that has turned ETH into “the darling asset of Wall Street.” Hayes didn’t contest the premise. Instead, he described the contest between the two chains as a “race” increasingly defined by the scale of capital now zeroing in on Ethereum: “ETH is a bigger asset to move, but there’s a lot of money chasing it. So it’s going to be [an] interesting race.” In other words, size is not a bug if flows are thick enough; it’s the feature that channels the largest bid. That flows-first view also explains why Hayes sees ETH’s upside accelerating once resistance is convincingly cleared. Responding to Neuner’s observation that Bitcoin sits well above its prior all-time high while ETH had been “struggling to break,” Hayes raised his sights beyond catch-up toward open-ended momentum: “I think ETH goes to $10,000 [or] 20,000 before the end of the cycle… once it’s broken through, then… it’s a gap of air to the upside.” He added that on shorter time frames, “the chart says it’s going higher now,” noting he had “bought back some of the ETH” he previously sold. None of this means Hayes is bearish on Solana. He disclosed he advises Upexi, a Nasdaq-listed company with a Solana-focused treasury, and reiterated his expectation that SOL will benefit from the same risk-on currents: “They’re both going to go up. The question is which one goes up more.” But even with that proximity to the Solana ecosystem, he returned to the relative case: “Do I believe [Solana]’s going to go up more than ETH?… Probably not.” Neuner summarized the narrative shift bluntly—ETH “caught this massive Wall Street narrative,” with stablecoins, tokenized assets and high-profile champions such as Joseph Lubin and Tom Lee putting a megaphone behind Ethereum, after a period when “it’s a SOL cycle” dominated discourse. Hayes’ answer was not to relitigate the tech stack—Neuner even joked about Solana as the “fast monolithic chain”—but to anchor the ETH-over-SOL call in the mechanics of capital formation and passive demand now assembling around Ethereum’s market structure. In his telling, as institutional vehicles and public ETH treasury companies marshal fresh inflows, the “bigger asset to move” becomes the natural sink for the thickest flows. Hayes’ comparative view therefore rests on three on-record pillars. First, positioning: he is overweight ETH versus SOL on a percentage basis. Second, flows: he expects more money to chase ETH in this phase of the cycle, despite (and because of) its larger base. Third, trajectory: once ETH sustains a breakout, he sees “the sky’s the limit” dynamics taking over, with a cycle target of $10,000–$20,000 for ETH. The respect for Solana’s upside remains, but the winner—on Hayes’ numbers and his own book—is Ethereum. At press time, ETH traded at $4,285.

Crypto analyst EGRAG CRYPTO has long been one of the most vocal bulls of XRP, calling for higher prices even when the cryptocurrency was being weighed down by Ripple’s battle with the Securities and Exchange Commission (SEC). However, as the altcoin has struggled due to the current bearish market, the analyst has called out multiple important levels to watch. While he continues to call for new all-time highs, EGRAG warns that XRP must hold this last line of defense or risk falling into a bear market. XRP Price Must Not Fall Below $2.33 As the analysis points out, the XRP price is still holding at reasonable levels that could suggest a restart of the bullish momentum. But the further the price falls, the more at risk XRP is of completely falling into the hands of bears and risking a complete crash. As the price fluctuates, the $2.90 now serves as the midpoint of the Linear Log Channel. This makes it an important level, and EGRAG suggests that the price being able to hold above this level would suggest a strong bullish setup for XRP. In the case of a failure, then the next major support and defense for XRP falls to the $2.65 level. The importance of this level cannot be overestimated, as the price must hold it even if it wicks below it. Closing below here would mean that the altcoin is ‘in trouble’, as EGRAG explains. Further down is what could arguably be the last line of defense for bulls to stage a reversal, and this last line of defense is at $2.33. This is the 2-Week EMA and is the major level to hold if the price is to reach new all-time highs. Otherwise, control falls completely into the hands of the bears, signaling a bear trend. Other major levels that signal bear control are the $1.90, which EGRAG paints as the “bear market line of defense.” A close below this puts XRP firmly in bear territory. Then $1.62 is the point of confirmation of the bearish trend as the price completely loses support. Why There Is Still Hope Despite the sentiment skewing toward the negative, the crypto analyst remains optimistic when it comes to the long-term performance of the XRP price. He points out that the White Arch outlined in the chart coincides with the Blue Upper Boundary of the Linear Log Channel. At the top of this channel, the price is sitting well above $20. The major move required here is that the XRP price manages to close above $3.65, which would push the altcoin into price discovery. If this happens, then the analyst says, “That’s the end of the story,” expecting the price to rocket.

Data shows the Ethereum perpetual futures volume dominance has set a new all-time high relative to Bitcoin, a sign of elevated speculative interest in altcoins. Ethereum Perpetual Futures Volume Dominance Has Hit 67% According to data from on-chain analytics firm Glassnode, the Ethereum perpetual futures volume has shot up recently. Below is the chart cited by Glassnode, showing the trend in the perpetual futures volume dominance breakdown between Ethereum and Bitcoin. As displayed in the above graph, Ethereum overtook Bitcoin in perpetual futures volume a while ago, indicating that speculators shifted their attention from BTC to ETH. The two have only continued to diverge since then, meaning that trader interest in the coin ranked number two by market cap is only going up. Following the latest continuation to the increase, the ETH perpetual futures volume dominance has reached the 67% mark, which is a new all-time high (ATH). The analytics firm explains, Over the years, Ethereum has generally been considered a bellweather asset, with periods of its out-performance usually correlated with broader a “altseason” phase in the digital asset market. As such, this pronounced rotation in trading activity can be a sign of growing focus on the altcoin sector among the investors. Glassnode also notes the trend could point to “an acceleration of risk appetite within this market cycle.” Ethereum’s dominance has also grown in terms of another perpetual futures market indicator: the Open Interest. This metric measures the total amount of contracts related to a given asset that are open on all centralized derivatives exchanges. Here is a chart that shows how ETH’s dominance of this metric has changed relative to BTC over the past few years: As is visible in the above graph, the Ethereum perpetual futures Open Interest dominance has climbed to 43.3% recently. Bitcoin remains dominant with the metric sitting at 56.7%, but compared to earlier in the year, the difference is a lot closer. In terms of the futures sector as a whole, the combined Open Interest across major altcoins (Ethereum, Solana, XRP, and Dogecoin) set a new ATH of $60.2 billion recently. Though, this high couldn’t last, as the indicator suffered a sharp $2.6 billion drawdown soon after. This drop in the Open Interest of the major altcoins is the tenth largest on record. The report notes, These rapid fluctuations underscore that altcoins are currently drawing a significant amount of investor attention, and have meaningfully contributed to heightened reflexivity and fragility across digital asset markets. ETH Price At the time of writing, Ethereum is floating around $4,200, down almost 7% in the last seven days.

This is a follow-up analysis and update of our prior report, Nikkei 225 Update: Bullish impulsive sequence intact, new resistance levels to watch after new all-time high, published on 12 August 2025. The Japan 225 CFD Index (a proxy of the Nikkei 225 futures) rallied as expected and hit the first resistance level of 43,560 as mentioned in our previous report. It printed a fresh intraday record high of 43,943 on Monday, 18 August. Thereafter, it staged a decline of -4% to record an intraday low of 42,330 on Friday, 22 August, before it recovered to an intraday level of 42,570 at the time of writing. Several technical elements and a fundamental factor suggest that the ongoing 5-day decline is likely a minor corrective decline within its medium-term uptrend phase rather than the start of a medium-term bearish trend. Fig. 1: Japan 225 CFD Index minor trend as of 22 Aug 2025 (Source: TradingView) Fig. 2: Nikkei 225 component stocks above 200-day as of 22 Aug 2025 (Source: MacroMicro) Fig. 3: Japan Citigroup Earnings Revision Index as of 15 Aug 2025 (Source: MacroMicro) Preferred trend bias (1-3 days) Maintain a bullish bias with short-term pivotal support at 42,000/41,760 for the Japan 225 CFD Index, and a clearance above 43,060 sees the next intermediate resistances coming at 43,470 and 44,050/44,110 (Fibonacci extension cluster levels) (see Fig. 1). Key elements The 42,000/41,760 key support zone is likely an inflection point, a potential bullish reversal as it confluences with the 20-day moving average and 50% Fibonacci retracement of the prior minor up move from 1 August 2025 low to 18 August 2025 high.The hourly RSI momentum indicator has traced out a bullish divergence condition after it dropped towards its oversold region on Wednesday, 20 August. These observations suggest bearish momentum of the ongoing 5-day decline has started to ease.Market breadth has continued to improve; the percentage of the Nikkei 225 component stocks trading above their respective key 200-day moving averages has increased steadily since 1 August’s print of 74% to 82% as of Friday, August (see Fig. 2).Analysts, on average, have continued to upgrade their earnings outlook on Japanese corporations. The Citigroup Earnings Revision Index has been on a path of a steady uptrend since 18 April 2025’s 5-year low of -0.72; it has jumped to 0.37 as of 15 August 2025 from -0.19 printed on 18 July 2025 (see Fig. 3).Alternative trend bias (1 to 3 days) A break below the 41,760 key support invalidates the bullish recovery to see an extension of the corrective decline to expose the 41,275/41,070 medium-term support zone. 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.

Dogecoin started a fresh decline below the $0.2320 zone against the US Dollar. DOGE is now consolidating and might dip further below $0.210. DOGE price started a fresh decline below the $0.2250 level. The price is trading below the $0.2250 level and the 100-hourly simple moving average. There is a bearish trend line forming with resistance at $0.220 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh upward move if it stays above the $0.2080 zone. Dogecoin Price Dips Further Dogecoin price started a fresh decline after there was a close below $0.240, like Bitcoin and Ethereum. DOGE declined below the $0.2320 and $0.2250 support levels. The price even traded below $0.2120. A low was formed at $0.2078 and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the recent decline from the $0.2430 swing high to the $0.2078 low. Dogecoin price is now trading below the $0.2250 level and the 100-hourly simple moving average. If there is a recovery wave, immediate resistance on the upside is near the $0.220 level. There is also a bearish trend line forming with resistance at $0.220 on the hourly chart of the DOGE/USD pair. The first major resistance for the bulls could be near the $0.2250 level. It is close to the 50% Fib retracement level of the recent decline from the $0.2430 swing high to the $0.2078 low. The next major resistance is near the $0.2320 level. A close above the $0.2320 resistance might send the price toward the $0.2450 resistance. Any more gains might send the price toward the $0.250 level. The next major stop for the bulls might be $0.2550. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.2250 level, it could continue to move down. Initial support on the downside is near the $0.2120 level. The next major support is near the $0.2080 level. The main support sits at $0.2050. If there is a downside break below the $0.2050 support, the price could decline further. In the stated case, the price might decline toward the $0.20 level or even $0.1920 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.2120 and $0.2050. Major Resistance Levels – $0.2250 and $0.2320.

Strategy (previously MicroStrategy), the software firm co-founded by Bitcoin (BTC) bull Michael Saylor has seen its stock, MSTR, take a considerable hit plummeting by nearly 20% since last month, in line with the broader market correction. This downward trend is expected to persist, according to Gus Galá, an analyst at Monness, Crespi, Hardt, who recently reiterated a Sell rating on the stock with a price target set at $175. Analyst Cautions Against Long Positions In Strategy On Thursday, shares of Strategy fell an additional 2.4%, closing at $336.48. The company has attracted considerable attention for becoming the largest corporate holder of Bitcoin, with its Bitcoin treasury surpassing the 600,000 figure. Despite the recent selloff, Strategy’s stock has seen major growth, climbing over 140% in the past year, primarily due to Bitcoin reaching new highs beyond $120,000. However, Galá warns that the volatility associated with Bitcoin poses significant risks. He argues that companies with large Bitcoin treasuries are indicative of a later stage in the Bitcoin market cycle. For Strategy’s stock to defy this trend, Bitcoin would need to break free from its historical pattern of boom-and-bust cycles and sustain a prolonged bull run. Historically, there have been times when Strategy’s market capitalization exceeded its actual Bitcoin holdings by more than double. Currently, with a market cap-to-Bitcoin ratio of 1.34-to-1, Galá suggests that while investors shouldn’t increase short positions, they should also refrain from taking long positions. He believes that the market cap multiple is likely to decline, driven in part by skepticism in the credit markets regarding the debt Strategy has issued to finance its Bitcoin acquisitions. Crypto Stocks Suffer Setbacks Galá also expressed doubt that credit rating agencies will be inclined to assign investment-grade ratings to Strategy’s treasury strategy, especially in the near term. This skepticism stems from the fact that the company’s profits are largely unrealized gains from its Bitcoin holdings. Securing an investment-grade rating could potentially allow Strategy to issue and repay its debt under more favorable terms, but this would require Bitcoin to be perceived as a more stable digital asset, akin to gold. After reaching a new record price just above $124,000, the market’s leading cryptocurrency has seen its valuation drop 9% from all-time high levels currently attempting to consolidate between $112,000 and $113,000. Beyond Strategy, crypto stocks have also seen their valuations drop. On Thursday, shares of USDC issuer Circle (CRLC) dropped 4% after the initial excitement following the firm’s initial public offering (IPO). US-based cryptocurrency exchange Coinbase (COIN) saw its shares drop toward the key $300 support, meaning a 2.5% decline compared to Wednesday’s trading session. Featured image from DALL-E, chart from TradingView.com

XRP price is showing bearish signs below the $2.950 resistance zone. The price is struggling to recover and might decline further below $2.820. XRP price is declining below the $2.950 and $2.920 levels. The price is now trading below $2.920 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2.910 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below the $3.00 zone. XRP Price Remains At Risk XRP price remained in a bearish zone after a close below the $3.00 level, like Bitcoin and Ethereum. The price extended losses and traded below the $2.920 support zone. The price even declined below $2.850. Finally, it tested the $2.820 support zone. A low was formed at $2.820 and the price recently attempted a recovery wave. There was a move above the $2.90 level. The price climbed above the 50% Fib retracement level of the downward move from the $3.095 swing high to the $2.820 low. However, the bears are active near the $3.00 zone and the 61.8% Fib retracement level of the downward move from the $3.095 swing high to the $2.820 low. The price is now trading below $2.920 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.90 level. There is also a bearish trend line forming with resistance at $2.910 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.950 level. A clear move above the $2.950 resistance might send the price toward the $3.00 resistance. Any more gains might send the price toward the $3.120 resistance. The next major hurdle for the bulls might be near $3.20. More Losses? If XRP fails to clear the $2.90 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.820 level. The next major support is near the $2.80 level. If there is a downside break and a close below the $2.80 level, the price might continue to decline toward the $2.7650 support. The next major support sits near the $2.750 zone, below which the price could gain bearish momentum. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.820 and $2.7650. Major Resistance Levels – $2.90 and $2.950.

Amid the controversial launch of Kanye West’s official memecoin on Solana, the crypto community has sounded the alarm for another potential celebrity token scam, with insider trading allegations outshining Ye’s party. The Rise And Fall Of YZY On Wednesday night, controversial Hip-Hop artist and public figure Ye, better known as Kanye West, launched his official memecoin, YZY, on the Solana blockchain. West announced the token in his X account, posting the contract address (CA) in a picture with the caption “YEEZY MONEY IS HERE. A NEW ECONOMY, BUILT ON CHAIN.” After the announcement, the memecoin skyrocketed to a market capitalization of $3.1 billion before quickly dropping 65% to the $1.1 billion mark in the following hours. Meanwhile, YZY’s price went from an all-time high (ATH) of $3.16 to hover between the $0.95-$1.30 price range. The crypto community reported multiple red flags, including allegations of insider trading and a lawsuit waiver. Notably, the official website has a controversial waiver that raised concerns among investors. In the “What Else Should I Know?” section, the website stated that by purchasing the token, investors agree they “will not bring, join or participate in any class action lawsuit as to any claim, dispute or controversy” that they may have against any of the “Covered Parties.” “if you’re buying this ur literally giving them permission to rug you without consequences,” a community member noted. Nonetheless, investors may opt out of the dispute resolution provision by “providing written notice of your decision within thirty (30) days of the date that you first access the Website,” the page reads. Ye’s Memecoin Supply Owned By Insiders Conor Grogan, director at Coinbase, estimated that at least 94% of the supply was owned by insiders, with 87% of the token being held by a single multisig wallet before it was distributed to multiple wallets. According to the “YZYNOMICS”, 20% of the token’s distribution would be for public supply, 10% for liquidity, and 70% for Yeezy Investments LLC. On-chain analytics firm Bubblemaps affirmed that “the bubble map of YZY mostly MATCHES the distribution on Kanye’s website,” cautioning that “the 17% address ‘public supply’ is UNLOCKED and can sell at any time.” Lookonchain highlighted that only YZY had been added to the liquidity pool, with no USDC, warning that the “Dev may sell YZY by adding/removing liquidity, similar to LIBRA.” Additionally, they noted that multiple insider wallets had prepared funds in advance and bought the memecoin, with one address knowing the CA and attempting to purchase YZY yesterday. The on-chain wallet tracker also cautioned that West had added 30 million YZY, worth $34 million, to the liquidity pool with a price range of $3.17-$4.49, signaling that “once the price climbs above $3.1716, he’ll start earning fees while gradually selling YZY for USDC. If the price rises above $4.4929, all 30M YZY will be sold.” Investors See Red Numbers On-chain researcher Defioasis affirmed that the YZY launch was “more of the same,” revealing that, so far, most wallets holding West’s memecoin are in the red. According to their analysis, 56,050 addresses traded the token in the past 13 hours, with 25,166, or 44.9% of the wallets, engaging in one-sided transactions. Out of these addresses, 23,723 only bought the memecoin, while 1,443 only sold it. They suggested that “some of the former may be dust addresses aimed at increasing the number of addresses, while others are either holding onto their positions or stuck in losses,” adding, “The latter are primarily project teams/large holders using multiple addresses to sell, making it harder to track them directly.” Meanwhile, 30,884 addresses had two-way transactions, with 38.07% of addresses registering realized profits. 30% of these wallets had a profit of up to $500, while only 1.31% of them had profits exceeding $10,000. Among this 1%, only 5 addresses had over $1 million in profits, with one of them being identified as an insider. On the contrary, over 60% of participants are still in a loss position, the report noted, with 28.2% of the addresses losing up to $500. By the time of the Defioasis post, one individual had lost over $1 million, while another had lost around half a million.

Ethereum price started a recovery wave above the $4,150 zone. ETH is now back above $4,250 but it faces many hurdles near $4,300. Ethereum started a recovery wave above the $4,200 and $4,250 levels. The price is trading below $4,320 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $4,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $4,180 zone in the near term. Ethereum Price Faces Hurdles Ethereum price extended losses after there was a close below the $4,200 level, like Bitcoin. ETH price gained bearish momentum and traded below the $4,110 support zone. The bears were able to push the price below the $4,080 support zone. Finally, the price tested the $4,065 zone. A low was formed at $4,065 and the price recently started a recovery wave above the 23.6% Fib retracement level of the recent decline from the $4,580 swing high to the $4,065 low. The price failed to clear the $4,350 zone and the 61.8% Fib retracement level of the recent decline from the $4,580 swing high to the $4,065 low. There is also a bearish trend line forming with resistance at $4,300 on the hourly chart of ETH/USD. Ethereum price is now trading below $4,300 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,300 level. The next key resistance is near the $4,350 level. The first major resistance is near the $4,385 level. A clear move above the $4,385 resistance might send the price toward the $4,450 resistance. An upside break above the $4,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,500 resistance zone or even $4,550 in the near term. Another Drop In ETH? If Ethereum fails to clear the $4,300 resistance, it could continue to move down. Initial support on the downside is near the $4,220 level. The first major support sits near the $4,180 zone. A clear move below the $4,180 support might push the price toward the $4,120 support. Any more losses might send the price toward the $4,065 support level in the near term. The next key support sits at $4,000. 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 above the 50 zone. Major Support Level – $4,180 Major Resistance Level – $4,385

Binance’s native token BNB reached a new milestone today, setting an all-time high of $881 before correcting slightly to $849 at the time of writing. Despite broader market consolidation in recent days, BNB’s performance marked a 2.6% increase in the past 24 hours. The development has drawn notable attention from traders and analysts, many of whom are now evaluating whether the momentum is sustainable. CryptoQuant analyst CryptoOnchain shared insights on the rally, pointing to both technical signals and on-chain data as key factors behind the altcoin’s latest upward movement. According to his analysis, the decisive breakout above the $800–$810 resistance zone has turned that range into an important support level. He noted that maintaining this threshold could sustain bullish sentiment, with the $900 level emerging as the next psychological target. Technical and On-Chain Analysis of BNB On the technical side, the altcoin’s entry into “price discovery” mode has raised questions about the sustainability of its rally. CryptoOnchain explained that breaking above historical resistance levels typically attracts new inflows and strengthens confidence in long-term holding. From an on-chain perspective, the analyst highlighted “Rolling Percentage Gains” across multiple timeframes. The data suggests that all major holder cohorts, from short-term to long-term investors, are currently in profit. This reduces potential sell pressure as investors are less motivated to exit positions. At the same time, accelerating short-term gains reflect fresh demand, while one-year rolling gains indicate that the rally is not merely speculative but backed by sustained accumulation. According to CryptoOnchain, the combination of these factors presents a case for continued strength as long as the altcoin holds above the $800 support zone. “The technical breakout is supported by confident, profitable holders,” he wrote. “As long as BNB holds the crucial $800 support level, the outlook for testing higher targets remains highly favorable.” Analysts See Potential for $1,000 Beyond technical and on-chain metrics, independent market observers are also weighing in on the altcoin’s trajectory. A crypto analyst known as BitBull on X noted that BNB’s new all-time high coincides with a structural shift in its price action. The token’s long-standing resistance has now flipped into support, creating what he described as conditions for further growth. “$BNB hit a new ATH of $880 today. It has now flipped its multi-year resistance level into support. With public-listed companies bidding BNB, $1K BNB is just a matter of time,” BitBull commented. BNB’s rise comes amid an evolving market for exchange tokens. While some have struggled to maintain relevance, BNB has consistently grown in utility, supported by Binance’s ecosystem, which includes trading fee discounts, token launches, and blockchain infrastructure through the BNB Chain. This dynamic has helped position the token as one of the top five cryptocurrencies by market capitalization. Featured image created with DALL-E, Chart from TradingView

Bitcoin price is attempting to recover from $112,000. BTC is back above $113,200 but faces many hurdles on the way up to $118,000. Bitcoin started a recovery wave above the $112,500 zone. The price is trading below $115,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $113,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $115,000 resistance zone. Bitcoin Price Faces Resistance Bitcoin price started a fresh decline after a close below the $115,000 level. BTC gained bearish momentum and traded below the $113,200 support zone. There was a move below the $112,500 support zone and the 100 hourly Simple moving average. The pair tested the $112,000 zone. A low was formed at $112,100 and the price is now attempting to recover toward the 23.6% Fib retracement level of the recent decline from the $124,420 swing high to the $112,100 low. Bitcoin is now trading below $114,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $113,500 level. There is also a key bearish trend line forming with resistance at $113,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $114,500 level. The next resistance could be $115,000. A close above the $115,000 resistance might send the price further higher. In the stated case, the price could rise and test the $116,500 resistance level. Any more gains might send the price toward the $118,200 level. It is close to the 50% Fib retracement level of the recent decline from the $124,420 swing high to the $112,100 low. The main target could be $120,000. More Downside In BTC? If Bitcoin fails to rise above the $114,500 resistance zone, it could start a fresh decline. Immediate support is near the $112,500 level. The first major support is near the $112,000 level. The next support is now near the $110,500 zone. Any more losses might send the price toward the $108,250 support in the near term. The main support sits at $105,500, below which BTC might take a major hit. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $112,500, followed by $112,000. Major Resistance Levels – $113,500 and $115,000.

Bitcoin (BTC) recently surged to a new all-time high, surpassing $124,000, only to experience a subsequent drop of 9%. This volatility has sparked widespread speculation about the current state of the bull market, the potential for an ongoing “alt season,” and whether Bitcoin has reached its peak. In light of the current price action, market expert Miles Deutscher has shared insights on the social media platform X (formerly Twitter), suggesting that August may be viewed as a significant trap in the crypto market. Two Scenarios For Bitcoin First, Deutscher points out a significant change in market strength. Ethereum (ETH) seems to be outperforming Bitcoin in terms of both price and narrative. He claims that Bitcoin has been showing signs of structural weakness since early July. A key factor contributing to this downturn, according to the expert’s analysis, is the diminishing influence of Strategy’s (MicroStrategy) treasury purchases, which previously fueled the cryptocurrency’s last rally. Deutscher asserts that this decline in demand has resulted in stalling momentum for BTC, leading him to speculate that it may remain range-bound until further clarity emerges from upcoming interest rate decisions. In his analysis, Deutscher outlines two potential scenarios for the Bitcoin price trajectory. The first possibility involves a dip to the lows around $111,000, which could coincide with Ethereum’s critical support level of $4,000. The second scenario envisions a reclaiming of the mid-range price of $115,500, which could pave the way for renewed upward momentum. Conversely, the narrative surrounding Ethereum continues to significantly gain traction, bolstered by an estimated $27 billion in sidelined capital poised for investment in the decentralized asset token (DAT) ecosystem. What’s Next For Ethereum And Crypto Market? Interestingly, ETH has recently surpassed BTC in terms of trading volume for treasury companies. Deutscher notes that this trend suggests Ethereum still has considerable room for growth relative to Bitcoin, making it a less saturated trade. This relative strength is reflected in the performance of altcoins, which have shown resilience against Bitcoin. Unlike past corrections, where altcoins suffered significant losses, this time the altcoin market has maintained support and exhibited bullish signals. Amid the current market reaction, macroeconomic factors have played a crucial role in price action. Uncertainty surrounding the Federal Reserve’s (Fed) policies, in light of the upcoming Jackson Hole speech, has led to a wave of de-risking among investors. The market’s response to hot Producer Price Index (PPI) data is also highlighted as it has altered expectations regarding interest rate cuts, heightening fears of a hawkish stance from the Federal Reserve, contributing to the recent sell-off. Deutscher anticipates that this market behavior may lead to a “classic sell into the end of the month” pattern, particularly as September historically presents volatility for Bitcoin. However, the expert posits that once the uncertainty dissipates, particularly following the Jackson Hole event and the subsequent rate decision next month, the market may be well-positioned for another attempt at new highs. When writing, BTC trades at $113,000, attempting to consolidate 9% below its all-time high reached on August 14. Featured image from DALL-E, chart from TradingView.com

Bitcoin continues to retrace from its record highs, with the asset trading below $115,000 at the time of writing. Current price levels place Bitcoin near $113,098, a decline of around 6.5% over the past week and close to 9% below its all-time peak. Despite the downturn, analysts monitoring on-chain data suggest the broader market cycle may still have room to extend upward. One such view comes from CryptoQuant’s QuickTake contributor, PelinayPA, who analyzed Bitcoin’s market value to realized value (MVRV) ratio. The analyst noted that while recent corrections may weigh on short-term sentiment, historical patterns in MVRV indicate that Bitcoin has not yet reached conditions typically associated with market cycle tops. Bitcoin MVRV Ratio Points to Neutral but Upward Potential The MVRV ratio is a widely tracked on-chain indicator that compares Bitcoin’s total market capitalization with its realized capitalization, which reflects the aggregated value of coins at the price they last moved on-chain. Historically, when the ratio climbs into the 3.5 to 4 range, it signals a potential overheating of the market. At these levels, most holders are in profit, selling activity rises, and price tops are often reached. Conversely, MVRV levels below 1 have historically marked accumulation phases and strong long-term entry points. Currently, Bitcoin’s MVRV ratio stands around 2.1. According to PelinayPA, this reading positions the market within a “neutral to bullish” zone, suggesting that while Bitcoin is no longer cheap, the conditions for an extended rally remain intact. The analyst noted that in previous cycles, the MVRV ratio advanced significantly higher before a peak, implying that Bitcoin’s price would need to move into the $140,000–$180,000 range for the indicator to reach historical top levels. However, the data also suggests that corrections along the way are plausible. “Since MVRV is already above 2, the market is not cheap anymore — short to mid-term corrections may occur along the way,” PelinayPA explained. The balance between potential upside and intermittent drawdowns reflects a phase of consolidation within a broader bull market structure. Exchange Flows Signal Mixed Market Behavior In a separate analysis, CryptoQuant contributor BorisD examined exchange netflow data, focusing on Binance, the world’s largest crypto trading platform. The report highlighted notable trends across several altcoins, showing how capital movements may inform future market conditions. According to the data, tokens such as ENJ (Enjin) and FET (Fetch.ai) recorded significant outflows from Binance. This pattern typically indicates that investors are moving assets to private wallets, which can be interpreted as a sign of longer-term holding behavior. In contrast, assets like ANKR and MATIC have seen strong inflows onto exchanges, raising the possibility of either upcoming selling pressure or speculative positioning ahead of market shifts. BorisD suggested that monitoring which assets are attracting inflows versus outflows could help investors identify potential opportunities in the altcoin market. “Identifying which of these altcoins are currently near potential bottoms and positioning for their next rally seems to be the most rational strategy,” the analyst wrote. Featured image created with DALL-E, Chart from TradingView

The UK government is cracking down on financial networks and crypto systems that it believes are helping Russia get around Western sanctions. This latest move targets a cluster of platforms linked to a Kyrgyz-based stablecoin operation used to quietly move money across borders. A7A5 Stablecoin Raises Red Flags A rouble-backed stablecoin called A7A5 sits at the center of the enforcement. According to UK officials, the token was used to process around nine billion dollars in transactions within four months. That kind of volume, paired with its activity through Kyrgyz channels, raised concerns that it was built to sidestep restrictions. Reaching Into Kyrgyz Financial Infrastructure The UK has gone beyond the token itself. It imposed sanctions on a firm based in Luxembourg and two Kyrgyz companies, Grinex and Old Vector, both of which are closely connected to A7A5’s operations. Several individuals were also named for their alleged roles in helping Russia source materials for its military through these crypto routes. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in August2025 Reinforcing Allied Action This decision didn’t come out of nowhere. It follows similar moves already taken by the United States against some of the same targets. UK officials say the action adds to an already long list of measures aimed at cutting off Russia’s access to international finance. It also sends a clear signal that the UK and its allies are stepping up coordination. BitcoinPriceMarket CapBTC$2.24T24h7d30d1yAll time Strong Words from UK Sanctions Officials Officials in London are not sugarcoating the message. A sanctions minister called out those using crypto to hide transactions, saying anyone trying to route funds through these systems to avoid penalties is playing a losing game. The tone makes it clear this is not a one-off response, but part of a longer-term enforcement effort. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 The Shadow Economy Gets Brighter Some blockchain analytics firms have been sounding the alarm for a while. They estimate A7A5 has processed more than fifty billion dollars in total since it launched. That level of activity suggests this isn’t just a niche tool but part of a broader system Russia may be using to keep financial activity alive in the face of mounting sanctions. Denials and Diplomatic Pushback Kyrgyz officials haven’t stayed silent. The President of Kyrgyzstan pushed back against the accusations, saying that traditional banks in the country have no involvement in these crypto activities. He said the government is overseeing the situation closely and noted that only one state-run bank has authorization to deal with roubles. Crypto Becomes a Sanctions Frontier This latest move underlines how far crypto has come in geopolitical relevance. What used to be a fringe technology is now a key part of the sanctions conversation. The UK is making it clear that digital assets are not outside the reach of enforcement. What Comes Next The bigger question is whether other governments follow suit. With crypto infrastructure now clearly on regulators’ radar, there’s little doubt that more scrutiny is coming. The UK’s sanctions could set the tone for a broader international effort aimed at cleaning up crypto’s darker corners. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The UK sanctioned crypto firms linked to a Kyrgyz stablecoin used to help Russia bypass financial restrictions. A7A5, a rouble-backed stablecoin, moved $9 billion in just four months, triggering enforcement action. Authorities sanctioned two Kyrgyz firms and several individuals for allegedly enabling sanctions evasion through crypto networks. UK officials say this move aligns with U.S. efforts and marks a coordinated strategy to cut off Russia’s access to digital finance. The crackdown highlights how crypto has become central to modern sanctions enforcement and international policy. The post UK Clamps Down on Crypto Networks Aiding Sanctions Evasion appeared first on 99Bitcoins.

State Street has stepped into tokenized finance with a $100 million digital debt issuance using JPMorgan’s private blockchain. It’s not a headline-grabbing crypto stunt. It’s a serious step toward modernizing how traditional financial instruments move behind the scenes. First Third-Party Custodian on JPMorgan’s Platform What makes this different is that State Street is the first outside custodian to join JPMorgan’s Digital Debt Service. This isn’t a pilot with training wheels. It’s a working example of two established players teaming up to bring blockchain into the day-to-day reality of institutional finance. A $100 Million Transaction With Real Stakes Overseas-Chinese Banking Corporation issued a $100 million commercial paper transaction. State Street Investment Management bought the full deal. It wasn’t a test run or a demo. This was live capital, real securities, and full institutional accountability. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Settlement on the Same Day JPMorgan’s infrastructure enables T+0 settlement, meaning transactions can be settled the same day they are executed. That kind of speed is rare in debt markets. Compared to the usual delays and coordination hurdles, this feels like skipping the traffic jam entirely. BitcoinPriceMarket CapBTC$2.24T24h7d30d1yAll time Automation Replaces Manual Back Office Work The new setup also trims the usual operational bloat. With smart contracts handling things like interest payouts and redemptions, there’s far less room for human error or delays. And because everything is still recorded and auditable, no trust is sacrificed in the process. A Strategic Move by State Street State Street is treating this as more than just a tech upgrade. It fits into a larger push to unify front, middle, and back office functions under a single digital strategy. Donna Milrod, the firm’s Chief Product Officer, called it a key part of their long-term plan to modernize core infrastructure without losing touch with what already works. DISCOVER: 20+ Next Crypto to Explode in 2025 Kinexys Provides the Infrastructure On the JPMorgan side, everything runs on its Kinexys platform. This is their in-house engine built for issuing and settling tokenized financial assets. With State Street now fully onboard, Kinexys has gone from an internal tool to something other institutions can actively plug into. From Experiment to Everyday Use This collaboration signals that tokenization is ready to move beyond theory. The deal checks all the boxes on scale, compliance, and risk controls. It’s not being treated as some fringe experiment, but rather as a better version of a system that already exists. No Drastic Changes for Clients What’s most interesting is how invisible the changes are for institutional clients. They still operate through familiar channels. The wallets, the automation, the faster settlement—all of that happens under the hood. For end users, the experience stays consistent and professional. A Subtle Shift With Big Implications It may not have made headlines outside the finance world, but this kind of transaction hints at what’s coming. Tokenized debt is no longer a future goal. It’s already happening quietly, with major players using blockchain to do things faster, cleaner, and with less friction. The old systems are still around, but they’re no longer the only option. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways State Street completed a $100 million digital debt transaction using JPMorgan’s blockchain, signaling tokenized finance is entering real use. It became the first third-party custodian to join JPMorgan’s Digital Debt Service, showing institutional confidence in blockchain infrastructure. The transaction achieved T+0 settlement, a major improvement over traditional debt market timelines that often involve multi-day delays. Smart contracts handled interest payouts and redemptions, reducing the need for manual back-office processes and lowering operational risk. The integration was seamless for clients, proving blockchain upgrades can happen without disrupting front-end experience or existing workflows. The post State Street Takes the Blockchain Leap in Debt Markets appeared first on 99Bitcoins.

The chief executive officer of SOL Strategies has a strong belief in the potential of Bitcoin, despite recent setbacks by the top crypto asset. Leah Wald told members of the press she expects bitcoin to make a steep move before year end. Her baseline? The vaunted $175,000 mark – a price she called a conservative read compared to some loftier forecasts. The market has already surprised a lot of people — bitcoin hit about $124,000 recently — so big swings are not impossible. Institutional Interest Drives Momentum According to Wald, part of the push comes from big money moving in. She pointed to companies like BlackRock and high-profile investors such as Cathie Wood, and she referenced how comments from leaders like Larry Fink have shifted conversations. Those voices bring models and balance-sheet plans that, she said during a CNBC TV18 interview, support much higher price targets than people used to expect. The industry’s own scars are still visible. After the FTX collapse many firms were de-banked and trust took a hit. But Wald argues that the picture has changed: banks and asset managers are opening doors again, and that makes it easier for large managers to put serious capital into crypto. That doesn’t erase risk though, but it does change how big investors approach the market. Long-Term Bets Stay Very Ambitious Based on reports, some forecasts stretch far beyond this year. Wald mentioned projections showing bitcoin at $1 million by 2030, a level that would dwarf current prices. Those long-range calls are driven by assumptions about adoption, limited supply and the role bitcoin could play in institutional portfolios. Whether reality matches those models is another question. Shorter-term math matters too. If bitcoin were to reach $175,000 before year end, that would be a rapid climb from recent levels around $124,000. Traders and managers watching volatility know such moves can happen, but they also know the path is rarely straight. Expectations, flows, and news — all of it moves markets fast. From Speculation To Infrastructure Wald says crypto is no longer just about quick gains. She sees a bigger change: mainstream finance is being rebuilt on blockchain tools, she said, and that shift is moving the conversation away from short-term trading toward how the system is built and run. Nation-states thinking about adoption and big asset managers planning custody services are part of that picture, she added, and those pieces matter for how prices form. Featured image from Meta, chart from TradingView

On-chain analytics firm Santiment has revealed how the two largest spikes in trading volume coincided with recent buying and selling windows for Bitcoin. Trading Volume May Signal Tops & Bottoms For Bitcoin In a new post on X, Santiment has talked about a pattern associated with the trading volume of Bitcoin. The “trading volume” here refers to a metric that keeps track of the total amount of the cryptocurrency that’s becoming involved in trading activities on the various centralized exchanges. When the value of this metric is high, it means the traders are making a large number of moves on the market. Such a trend suggests interest in the asset is high. On the other hand, the indicator having a low value implies investors may not be paying much attention to the cryptocurrency as they are participating in a low amount of activity. Now, here is a chart that shows the trend in the trading volume for Bitcoin and other top coins in the sector over the last few months: In the above graph, Santiment has highlighted two large spikes in the trading volume of Bitcoin. The first of these, involving a movement of $84.08 billion in the asset, occurred at the start of April. Interestingly, this spike coincided with BTC’s tariff-driven dip. The other spike took place just earlier this month and saw the indicator hit a high of $90.90 billion. This time, the elevated trading volume came alongside BTC’s new all-time high (ATH) above the $124,000 level. “Note that the two largest volume spikes from Bitcoin signaled the optimal time to buy (as prices were falling) and sell (as prices peaked to a new ATH),” explains the analytics firm. What could be the explanation behind the pattern? Generally, the higher the trading activity, the more likely BTC is to observe some kind of volatility. This is because the moves being made by investors act as fuel for price moves. Where the emerging volatility may lead the asset is hard to say based on the trading volume data alone, as it doesn’t separate between buying and selling moves. Spikes that come near price lows, however, can be signs of buying. This is what happened in April. Similarly, a particularly sharp uptick in activity after rallies, like the one seen earlier in the month, can be a sign of profit-taking. At present, Bitcoin trading volume remains elevated, but its current value of $66 billion is clearly still a step below the levels seen during the aforementioned turnarounds. BTC Price Bitcoin has been facing sustained bearish momentum recently as its price has gradually been sliding down, with its latest value coming at $113,000.

Ethereum is stabilizing above the $4,200 level after days of sharp volatility and heavy selling pressure. The recent downturn saw ETH retreat from local highs near $4,800, leaving bulls with the urgent task of defending critical demand zones. Now, early signs suggest that momentum may be shifting back in favor of buyers, with selling pressure beginning to fade across the market. This stabilization comes as altcoins prepare for what could be a decisive period in the coming months. Market sentiment is cautiously turning optimistic, supported by improving technical signals and renewed accumulation patterns. Analysts point out that if Ethereum can hold current support levels, the groundwork could be laid for another push toward retesting the $4,800 zone and, eventually, new all-time highs. Adding to the bullish narrative, Arkham Intelligence revealed that a whale or institutional player just longed about $300 million worth of ETH on-chain. This massive leveraged bet underscores confidence in Ethereum’s medium-term outlook, even amid recent volatility. Such moves from large-scale investors often signal strong conviction and can act as a catalyst for renewed market strength. Ethereum Whale Bet Sparks Speculation According to Arkham Intelligence, a whale identified as address 0x2eA has just made one of the boldest bets in Ethereum’s recent history. The address longed a total of $282 million worth of ETH across three separate accounts on Hyperliquid, with liquidation prices set tightly at $3,699, $3,700, and $3,732. This aggressive positioning suggests strong conviction that Ethereum’s recent correction may have already bottomed. Arkham itself posed the question: Did he just catch the bottom? The coming days are expected to be highly volatile, as futures markets heat up and traders prepare for sharp moves. With ETH consolidating around the $4,200 support level, the whale’s position could either trigger massive profits if the market rallies or result in a swift wipeout should bearish pressure intensify. Such concentrated bets often act as catalysts, fueling speculation and liquidity in derivatives markets. At the same time, institutional adoption continues to reinforce Ethereum’s long-term outlook. Companies like Sharplink Gaming and Bitmine have already taken steps toward treasury strategies that include ETH allocations, joining the growing list of firms treating Ethereum as a strategic reserve asset. This accumulation trend, combined with aggressive whale bets, underscores the broader demand dynamics supporting ETH. If bullish momentum builds, Ethereum could soon attempt a retest of its all-time high near $4,800, potentially pushing into uncharted price discovery. For now, the whale’s move stands as a bold signal of confidence, setting the stage for Ethereum’s next major market phase. Weekly Price Chart Analysis: Healthy Consolidation Ethereum’s weekly chart shows a sharp surge followed by a pullback as price action tests support levels near $4,200. After reaching highs close to $4,800, ETH faced heavy selling pressure, but the broader trend remains bullish. The chart highlights strong momentum since June, with Ethereum breaking through key resistance zones and reclaiming levels not seen since early 2022. Currently, ETH is consolidating above the 50-week and 100-week moving averages, which are sloping upward, reinforcing the broader bullish structure. The 200-week moving average sits far below, at $2,443, showing how extended the move has been. Ethereum continues to hold above the breakout zone, suggesting that bulls remain in control. This pullback may serve as a cooling-off period after weeks of aggressive buying. If Ethereum manages to stabilize above $4,200, it could attempt another move toward the $4,800–$5,000 resistance zone. A break above that region would open the door to new all-time highs and potential price discovery. On the downside, losing $4,000 would raise the risk of a deeper correction toward $3,600. Featured image from Dall-E, chart from TradingView

The Dogecoin question of the summer—whether the crash is finally over—met a hard-edged reality check in crypto analyst VisionPulsed’s August 20 video analysis. Stripping away “bullish propaganda,” he argued that Dogecoin will not meaningfully trend until two outside markers flip decisively risk-on: Ethereum crossing its all-time high and the Russell 2000 clearing its own peak. “We’re bearish until the Russell breaks the high and we’re bearish until ETH breaks the high,” he said, adding that the absence of those breakouts explains why familiar cycle cues have failed to ignite altcoins this time. Is The Dogecoin Crash Over? VisionPulsed opened with deliberate satire—“daily dose of bearish because it’s always bearish forever and ever”—but moved quickly to the data. He noted Dogecoin has printed higher lows and higher highs since October 2023, yet the tape has been locked in drift for months: “The price of Dogecoin has not done anything for almost 7 months now… we’re at 175 days of sideways.” He framed that range as potential accumulation by analogy to prior long compressions, observing that earlier multi-month stalls preceded sharp expansions: “In the big picture, one would consider that to be bullish… This one was massive, like 400 days of sideways… we might even be [in] accumulation, if you will.” The analyst’s core contention is that historical triggers that once synchronized altseason have broken down in this cycle. He revisited two now-faded playbooks: post-halving timed runs and the “BTC makes ATH → DOGE follows” sequence. “If we look at the halving… Dogecoin [historically] went to the moon about 240–260 days post-halving,” he said. “Right now… we’re almost at 500 days post-halving and there’s still no shot on the moon.” Likewise, Bitcoin tagging fresh highs has not transmitted to DOGE: “Bitcoin breaks the high, Doge makes a new all-time high… Bitcoin breaks the high, nothing happens. We’re still bearish.” In his view, that leaves only two unfulfilled, cycle-consistent conditions—Ethereum and the Russell 2000 at record levels—before declaring an altseason regime change. Market leadership and “dominance” dynamics are part of his diagnosis. On his charts, previous attempts by the Russell 2000 to push through the top coincided with a decline in dominance, a pattern he says could help unlock altcoin breadth. But he cautioned that a failed breakout would likely reset the clock: “Everybody thinks this is altseason, but the dominance is going to go back up because the Russell is going to go down? It’s very possible.” Until the equity small-cap gauge and ETH both clear resistance, he prefers “optimistic” to “excited.” Even as he dismantled over-promotional narratives—“the data doesn’t actually support [‘biggest altseason of all time’]”—VisionPulsed did outline the only scenario he’s willing to call “hopeium.” He mapped the Russell 2000 “getting close to the all-time high” alongside ETH “also getting close to the high,” pairing that backdrop with DOGE’s compression as the same setup that preceded prior impulsive legs: “Once the Russell gets over the high and once Ethereum gets over the high, I’m going to start getting very excited. But until then, we’re not there.” That sobriety extends beyond price. He pointed to dwindling engagement as a sentiment tell: “It’s very possible that at any moment the videos will start getting below 2,000 views… There’s nobody here. Google Trends back that up.” In his reading, the absence of retail heat is consistent with an unresolved cycle transition rather than a coiled spring already in motion. The conclusion landed where it began: Dogecoin’s crash narrative cannot be retired on crypto-native signals alone. Without concurrent breakouts in ETH and the Russell 2000, he argues, DOGE remains range-bound and the altcoin complex underpowered relative to past cycles. At press time, DOGE traded at $0.21757.

Log in to today's North American session Market wrap for August 21 Since last week, Markets have been dawdling around in the search for further headlines concerning any of these three subjects: A resumption of Federal Reserve cuts, any concrete news relative to peace in Eastern Europe and any news concerning the US state of employment. Indeed, the Federal Reserve's pause and Trump's tariffs are not generating any kind of volatility anymore, so the desperate research for more news is leaving volatility in a limbo. Participants, in the typical summer-break trading, have been trading in lower volumes these past few weeks awaiting for Powell to say anything concrete at his Jackson Hole Speech tomorrow at 10:00 A.M. The Symposium tends to create a lot of volatility as many Central Bankers use the mid-summer event to announce their plans for upcoming rate decisions. Rangebound and low-volatility Currency and commodity markets have dominated the charts except for the one outstander (like the New Zealand Dollar yesterday for example). Read More: EURUSD slides with focus shifting to the Jackson Hole Symposium Cross-Assets Daily Performance Cross-Asset Daily Performance, August 21, 2025 – Source: TradingView Cryptos really seem to have attained some type of intermediate top since the past week – They have been struggling. However, as mentioned in some of our previous cryptocurrency analysis, as long as Bitcoin holds above $110,000, the longer-run outlook is still not too bleak. Oil is the one winner of today's session (you can access our latest analysis of the commodity right here). Apart from that, it seems that Metals have also attained some form of intermediate peak – let's see how this develops. A picture of today's performance for major currencies Currency Performance, August 21 – Source: OANDA Labs Forex movement has been relatively subdued again this session. However, the USD is the winner of the session, at the cost of the Japanese Yen. A look at Economic data releasing in tonight and tomorrow's sessions For all market-moving economic releases and events, see the MarketPulse Economic Calendar. JPY Traders will have to stay ready for the upcoming Japanese National inflation data. You can access our preview of the data right here. For the rest, except for the German GDP (2:00 A.M. ET) and the Canadian Retail Sales (8:30 A.M. ET), all eyes will be on Jerome Powell's speech tomorrow at 10:00 A.M. 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.

Bitcoin is navigating a critical juncture after reaching a new all-time high of $124,500 last week before quickly retreating. The price is now searching for support, with volatility intensifying and traders debating whether this is the start of a deeper correction or simply a healthy consolidation phase before continuation. Some analysts remain optimistic, seeing this pullback as a natural reset in an overheated market, while others argue that momentum is fading as bearish signals emerge. Adding weight to the discussion, CryptoQuant analyst Axel Adler highlighted a key trend in retail participation. The share of retail transfers in the $0–$10K range within Bitcoin’s total USD turnover has been steadily declining throughout this cycle. From a peak of 2.7%, the share has now dropped to just 0.6%. Historically, such declines in retail participation have coincided with the later stages of bull cycles. This dynamic raises questions about whether the current phase marks a cooling of retail enthusiasm at a critical time for Bitcoin, as institutional and long-term holders dominate market structure. Bitcoin Retail Activity Declines as Market Cools According to CryptoQuant analyst Axel Adler, while the share of retail activity in Bitcoin’s network has dropped sharply, in absolute terms it still remains significant. Retail transfers in the $0–$10K range amount to over $400 million per day, but this represents only 0.6% of total USD turnover across the network. This shrinking share highlights a clear trend: while small investors are still active, their relative impact on overall market flows is diminishing. Adler notes that this cooling of retail demand was also observed in autumn 2021, at the peak of the previous cycle. At that time, the retail share fell to a historic low of just 0.19%, coinciding with overheated market conditions and marking the final stages of that bull cycle. The current decline in retail participation mirrors that pattern, suggesting that the market could be approaching a similar late-cycle environment. This dynamic is important because retail investors have traditionally been a strong driver of momentum during bull markets. With their reduced influence, institutional flows, long-term holders, and treasury strategies now play an even greater role in shaping market direction. The coming weeks will be critical as altcoins, led by Ethereum, show renewed strength. ETH is approaching its 2021 all-time high, and many analysts believe that its performance could dictate the broader crypto market’s next move. If retail demand continues to fade while institutional accumulation grows, Bitcoin may consolidate further, while capital rotation toward altcoins gains momentum. Bulls Defend Key Demand Level The 8-hour chart shows Bitcoin (BTC) under pressure as it trades near $113,400, struggling to hold above its 200-day moving average (red line), currently aligned around $113,416. This level has become a critical support zone after BTC failed to sustain momentum above the $123,217 resistance, which has acted as a clear rejection point multiple times this cycle. Shorter-term moving averages highlight the bearish momentum. The 50-day SMA (blue) at $117,017 and the 100-day SMA (green) at $117,087 are both trending above the current price, creating overhead resistance. The breakdown below these averages confirms a weakening trend, with BTC struggling to regain lost ground. Price action also shows a sequence of lower highs and lower lows since the rejection at the $124K zone, reinforcing bearish short-term sentiment. For bulls, reclaiming the 100-day SMA near $117K would be key to reversing momentum and reattempting a push toward the $120K–$123K range. Failure to hold the 200-day SMA risks accelerating downside, potentially opening the path toward $110K, a major psychological level. Featured image from Dall-E, chart from TradingView

Brazil Potash (NYSE: GRO) announced Thursday a commercial offtake agreement between its subsidiary Potássio do Brasil Ltda. and Keytrade Fertilizantes Brasil, subsidiary of Keytrade AG, one of the world’s leading fertilizer trading companies. The binding agreement establishes a 10-year take-or-pay commitment for Keytrade to purchase up to ~900,000 tons of potash annually from Brazil Potash’s Autazes project, 30% to 37% of Brazil Potash’s annual potash production. Last month, Brazil Potash signed an MOU with private equity firm Fictor Group outlining the terms of a $200 million infrastructure funding for Autazes. After facing headwinds due to some opposition by Indigenous groups, the state of Amazonas granted Brazil Potash last year the license to build the Autazes project, pegged to be the largest fertilizer mine in Latin America within the Amazon rainforest. “This Agreement with Keytrade is a major milestone in Brazil Potash’s commercial development,” Brazil Potash CEO Matt Simpson said in a news release. “Combined with our existing take-or-pay agreement with Amaggi Exportacão E Importacão Ltda., we now have binding commitments for ~1.45 million tons of our planned ~2.4 million tons of annual production,” Simpson said. “These long-term contracts provide the revenue certainty essential for securing project financing and advancing construction.” “This collaboration with Brazil Potash is a strategic step toward reducing Brazil’s reliance on imports and fostering economic growth in the Amazon region,” Keytrade Fertilizantes Brasil CEO Anthony Jezzi added. With the Keytrade Agreement finalized, Brazil Potash said it has secured binding offtake agreements covering ~60% of planned production and is also in advanced discussions with a prospective partner that would increase total volumes to ~91% of annual capacity.

Bitcoin has cemented itself as a trillion-dollar asset class, and institutional adoption is gathering momentum, and pressure on the world’s largest companies is mounting. What started as a fringe bet is rapidly turning into a strategic necessity. In a recent Swan Bitcoin presentation, Adam Livingston laid out a simple yet powerful case for why passive index mechanics will eventually force S&P 500 companies to incorporate BTC exposure the moment MicroStrategy qualifies for inclusion. What An S&P 500 Bitcoin Allocation Could Look Like According to the update on X, Livingston explains that once Strategy qualifies for inclusion in the S&P 500, the index’s rules will take effect. This is not about taste or ideology. Rather, it’s about floats, weights, and formulas. Related Reading: Institutional Bitcoin Holdings Near 20% Of Supply—Wall Street’s New Playground? When the index updates, trillions of dollars in benchmark trackers will follow. This means that BTC exposure will be piped directly into every 401(k), pension fund, and institutional portfolio that mirrors the S&P 500. The inclusion checklist is that Strategy now meets the exact criteria required for S&P 500 entry. These include passive funds like SPY and VOO that collectively move trillions and are compelled to buy new entrants, without questioning why a small initial index weight can trigger billions in inflows. Spot Bitcoin ETFs amplify the same flows with the daily rebalancing. Also, a reflexive loop is formed when BTC rises, Strategy’s weight rises, and more passive capital resumes buying. Real-world proof from prior inclusions shows how fast the index effect drives flows, and miners, exchanges, and treasury-heavy firms multiply BTC. Furthermore, he emphasizes that this is inevitable and not an opinion. Once the Strategy clears the inclusion hurdle, passive capital must flow. Presently, the index system has no ideological filter, and it simply executes rules. For finance professionals, CIOs, advisors, and analysts who live and die by benchmark risk, it’s the plumbing that matters. For Bitcoiners, it’s a clean, shareable explanation for skeptics who dismiss adoption as narrative hype. Once the index rules are triggered, the passive system cannot ignore BTC. By default, BTC exposure will be distributed across global portfolios. Parataxis Holdings Joins The BTC Treasury Trend In a strategic move, Parataxis Holdings has just joined the growing list of major institutions allocating corporate treasury funds to Bitcoin. Parataxis Holdings announced plans to purchase up to $640 million worth of BTC. According to market analyst Cryptoclub520, this signals an increase in institutional confidence in the digital asset as both a store of value and a hedge against market uncertainty. Additionally, the firm plans to deploy the funds gradually and adjust purchases based on market conditions to reduce volatility. However, Cryptoclub520 notes that BTC is becoming a serious reserve asset for investors. Institutional adoption continues to heat up, as more asset managers and corporate treasuries embrace BTC, marking a bullish signal for long-term holders.

The US Dollar has staged a decent comeback from the 98.00 handle after enduring a particularly brutal start to August. This is hurting EUR/USD in today's session. You can access our most recent US Dollar analysis right here. One of the key catalysts behind the drop in the pair was the Manufacturing PMI data beating market expectations (53.3 vs 49.5% exp). Markets are now holding their breath, awaiting comments from Jerome Powell tomorrow morning 10:00 at the Jackson Hole Symposium. The Fed Chair's speech is expected to be a market-moving event, with participants still awaiting for clues about future policy direction. EURUSD had enjoyed a spectacular relief rally following the August 1st NFP data, almost catching up to the pre-July 1.1830 highs. However, this Euro strength now faces a test as Dollar sentiment begins to stabilize, this comes after the most recent advances in US led talks that seem to create progress in the Ukraine-Russia War. ECB President Christine Lagarde is also expected to deliver remarks this weekend at the Jackson Hole Symposium, but the timeline is still not known. The calendar for the conference will be be released tonight at 8:00 P.M. ET. on the Kansas City Fed Website right here: https://www.kansascityfed.org/ Read More: ISM manufacturing PMIs lift US stocks from another bearish open – intraday levels for Dow Jones, S&P 500 and NasdaqEURUSD Technical AnalysisEURUSD Daily Chart EURUSD Daily Chart, August 21, 2025 – Source: TradingView The Euro is still evolving in a downward sequence since August 13th 1.1730 spike highs. The correction has been relatively moderated, with prices now entering the 1.16 to 1.1650 Pivot Zone, just below the 50-Day MA. The RSI is starting to tilt downwards from neutral levels, indicating further potential downside from here – A break below the 1.16 psychological level would be require for bears to take the hand. However, a failure to do so should point to further rangebound action ahead. In the waiting for more information, let's have a closer look. EURUSD 4H Chart EURUSD 4H Chart, August 21, 2025 – Source: TradingView The 4H timeframe allows us to spot the current low-slope downward channel that saw a strong break at the last trading week of July, before getting regained by the another sharp up-move on August 1st. Volatility has since retracted strongly, with the ongoing move-down reaching the mid-point of the channel. A break below 1.16 (current trading) as mentioned on the Daily timeframe analysis would be supplemented by potential selling acceleration at the lower bound of the channel. Buyers would need to step in around the current level to maintain the more balanced price action and avoid further bearish tilt. EUR/USD Levels to keep on your charts: Resistance Levels 1.1730 August 13th highs2020 Resistance around the 1.18 Zone1.1830 2025 topSupport Levels Current Pivot Zone 1.16 to 1.16501.1450 to 1.15 Psychological Level1.1350 to 1.14 Support 2EURUSD 1H Chart EURUSD 1H Chart, August 21, 2025 – Source: TradingView Looking further to the 1H timeframe, we see further action within the 1.16 to 1.1650 pivot zone (with higher and lower bounds of the zone highlighted). Sellers are reaching the lower bound of a smaller timeframe descending channel. Buyers stepping here would be more necessary to avoid a further break as mentioned before – A failure to do so would accentuate the potential bearish acceleration in the most traded currency pair. 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.

A public-private initiative to establish America’s first Strategic Mineral Reserve (SMR) will be spearheaded by critical minerals pioneer M2i Global (US-OTC: MTWO) and aviation solutions provider Volato Group (NYSE-A: SOAR). On Thursday, the companies announced the launch of this initiative, with a view of securing the nation’s supply of metals essential to defense, clean energy and industrial leadership. Specifically, it will focus on storing, refining and distributing critical minerals such as gallium, graphite and copper, which are vital for the manufacturing of defense systems, semiconductors, batteries and electric vehicles. The facility for the SMR will be headquartered at the Hawthorne Army Depot (HWAD) in Mineral County, Nevada. Established in 1930, the HWAD represents the “world’s largest depot” for ammunition storage, with an approximately storage space of 56,000 m2. The SMR project is supported by the Department of Defense, Defense Logistics Agency and Department of Energy. The initiative combines secure storage, refining capabilities, ethical sourcing, AI forecasting and workforce development through local partnerships, said M2i Global, which provides engineering, research and other services related to the US critical minerals sector. The announcement follows a report from the Hoover Institution, which called for a US-led multilateral critical minerals stockpile and collaborative planning efforts with various federal and state agencies, including the Nevada Governor’s Office of Economic Development (GOED). “Nevada’s abundance in critical minerals presents an opportunity to drive innovation and economic opportunities across our state and beyond, which is why international manipulation of the markets for lithium and other critical minerals presents a real threat,” GOED executive director Tom Burns stated in a press release “Securing this supply chain is vital to our national security, and Nevada has the resources to produce and stockpile these critical minerals,” Burns added. “This is not a stockpile, it’s a strategic capability,” said Major General (Ret.) Alberto Rosende, CEO of M2i Global. “We’re honored to work with Tom Burns and his team at GOED to ensure Nevada plays a defining role in securing our economic and national future. This is the right state, the right team, and the right time.”