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Solana started a fresh increase from the $175 zone. SOL price is now recovering higher and might aim for a move above the $188 resistance zone. SOL price started a recovery wave after it tested the $175 zone against the US Dollar. The price is now trading above $182 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $183 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $188 resistance zone. Solana Price Eyes Steady Increase Solana price extended losses after there was a close below $188, like Bitcoin and Ethereum. SOL traded below the $185 and $108 support levels to enter a short-term bearish zone. A low was formed at $175 and the price is now attempting a fresh increase. The price surpassed the $180 and $182 resistance levels. There was a move above the 23.6% Fib retracement level of the downward move from the $210 swing high to the $175 low. Besides, there was a break above a connecting bearish trend line with resistance at $183 on the hourly chart of the SOL/USD pair. Solana is now trading above $182 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $188 level. The next major resistance is near the $192 level or the 50% Fib retracement level of the downward move from the $210 swing high to the $175 low. The main resistance could be $195. A successful close above the $195 resistance zone could set the pace for another steady increase. The next key resistance is $200. Any more gains might send the price toward the $210 level. Another Decline In SOL? If SOL fails to rise above the $188 resistance, it could continue to move down. Initial support on the downside is near the $184 zone. The first major support is near the $180 level. A break below the $180 level might send the price toward the $175 support zone. If there is a close below the $175 support, the price could decline toward the $166 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $180 and $175. Major Resistance Levels – $188 and $192.

Bitcoin has retreated from last week’s record high above $124,000, slipping by over 8% in recent days. At the time of writing, the cryptocurrency trades around $113,867, reflecting a 6.3% decline over the past seven days. The correction has raised questions about the forces driving current market dynamics, particularly the role of large holders in shaping price momentum. On-chain data has pointed to a consistent pattern of selling activity from whales on Binance, the world’s largest exchange by trading volume. According to CryptoQuant contributor Arab Chain, these movements appear to be deliberate, with whales strategically distributing holdings near resistance levels. The data shows a series of deposits in the 100–1,000 BTC range flowing into Binance, suggesting calculated selling activity aimed at capturing profits while minimizing sharp price impacts. Bitcoin Whale Activity and Market Distribution Arab Chain’s analysis highlights that Bitcoin’s recent dip to levels near $112,500 coincided with an increase in whale inflows to Binance. These deposits were not massive, singular transfers exceeding 10,000 BTC, but rather repeated transactions over several days, creating what the analyst described as a “coordinated distribution pattern.” This behavior aligns with historical whale strategies, selling gradually at key resistance zones, in this case between $118,000 and $120,000, rather than triggering abrupt market declines. The analyst also observed that despite these movements, the 30-day cumulative whale flow indicator has remained steady around $4.8 billion, signaling that broader accumulation trends remain intact. However, short-term pressure persists. The data shows that each rebound attempt by Bitcoin is met with additional whale deposits to exchanges, reinforcing selling momentum. If this trend continues without a significant pickup in buying activity, Arab Chain warned that Bitcoin could face further downside, potentially testing the $110,000 support zone. Broader Market Context and Institutional Positioning While whale activity has been the focus of near-term market analysis, other perspectives suggest a more layered view of Bitcoin’s position. Another CryptoQuant contributor, known as IT Tech, noted that institutional strategies such as dollar-cost averaging (DCA) via over-the-counter (OTC) desks and on-chain settlements also play a role in shaping demand. However, these flows alone do not always determine immediate price direction. Instead, IT Tech emphasized the importance of monitoring ETF inflows, spot cumulative volume delta (CVD), and exchange premiums, such as those on Coinbase, to gain a clearer understanding of market sentiment. This mix of whale-driven selling and institutional accumulation highlights the complexity of the current market. On one hand, short-term tactical selling on exchanges like Binance creates downward pressure, while on the other, longer-term investment vehicles continue to add to Bitcoin’s demand base. The interaction of these factors will likely determine whether Bitcoin stabilizes above current levels or moves toward a deeper correction. Featured image created with DALL-E, Chart from TradingView

XRP price is showing bearish signs below the $3.00 resistance zone. The price is struggling to recover above the $2.950 and $3.00 levels. XRP price is declining below the $3.00 and $2.950 levels. The price is now trading below $2.950 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2.9650 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 Recovery Faces Hurdles XRP price remained in a bearish zone after a close below the $3.050 level, like Bitcoin and Ethereum. The price extended losses and traded below the $3.00 support zone. The price even declined below $2.90. Finally, it tested the $2.820 support zone. A low was formed at $2.820 and the price recently corrected some losses. There was a move above the $2.90 level. The price surpassed 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 below the $3.00 level and the 61.8% Fib retracement level of the downward move from the $3.095 swing high to the $2.820 low. There is also a bearish trend line forming with resistance at $2.9650 on the hourly chart of the XRP/USD pair. The price is now trading below $2.950 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.950 level. The first major resistance is near the $2.9650 level. A clear move above the $2.9650 resistance might send the price toward the $3.00 resistance. Any more gains might send the price toward the $3.050 resistance. The next major hurdle for the bulls might be near $3.120. Another Decline? If XRP fails to clear the $2.9650 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.90 level. The next major support is near the $2.850 level. If there is a downside break and a close below the $2.850 level, the price might continue to decline toward the $2.820 support. The next major support sits near the $2.780 zone, below which there could be a sustained drop. 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 – $2.90 and $2.850. Major Resistance Levels – $2.9650 and $3.00.

As traditional financial firms increasingly explore the integration of stablecoins into their operations, Goldman Sachs has made a bold prediction: the stablecoin sector could soon reach valuations in the trillions. This optimism comes on the heels of significant regulatory developments, most notably the recent introduction of the GENIUS Act, which aligns state and federal frameworks for stablecoin regulation. ‘Stablecoin Gold Rush’ US Treasury Secretary Scott Bessent expressed confidence in the role of stablecoins, suggesting they could significantly boost the market for US Treasuries. According to a report from the Financial Times, Bessent has indicated that the government may increase the sale of short-term debt to meet the anticipated demand for these cryptocurrencies. Goldman Sachs views this moment as the dawn of a “stablecoin gold rush.” In a recent research paper authored by Will Nance and his team, the bank noted that the global market for stablecoins currently stands at approximately $271 billion. They anticipate significant growth, particularly for Circle’s USD Coin (USDC) stablecoin, which they believe will gain market share both on and off the Binance platform. The report estimates that USDC could see an impressive $77 billion increase, representing a compound annual growth rate (CAGR) of 40% from 2024 to 2027. The Potential Impact Of Dollar-Pegged Cryptocurrencies The potential market for stablecoins is vast, with Goldman Sachs highlighting that Visa estimates the addressable market for payments at around $240 trillion in annual payment volume. Consumer payments alone account for about $40 trillion, while business-to-business (B2B) payments and person-to-person (P2P) transactions make up the remainder. The unique structure of stablecoins—requiring them to be backed one-to-one with US dollars or government bonds—means that each stablecoin issued directly increases demand for the bonds that back them. Some market analysts believe this approach will have a profound impact on the bond market, particularly for short-dated bonds, which often yield low interest rates. A research paper from the Bank for International Settlements also supports Goldman Sach’s view, suggesting that significant inflows into the stablecoin market could lower three-month Treasury yields by 2 to 2.5 basis points within a short time frame. However, the bank’s paper also notes that the effects of stablecoin outflows are disproportionately greater, causing yields to rise by two to three times as much. Amid significant regulatory progress from the Trump administration, including the passage of the GENIUS Act for stablecoins, the CLARITY Act, and the Anti-CBDC bill, there have been increased inflows in the broader crypto market. Significant capital has entered Bitcoin and Ethereum exchange-traded funds (ETFs), and there is a new trend of adopting cryptocurrencies as treasury reserves. These factors have led to a new all-time high in total crypto market capitalization of $4.17 trillion. As of this writing, the figure has dropped to $3.81 trillion, as the market’s largest cryptocurrencies have led the correction witnessed since last week. Featured image from DALL-E, chart from TradingView.com

The Wormhole Foundation has stepped into the spotlight with a challenge to LayerZero’s $110 million bid to acquire Stargate Finance. Rather than sitting on the sidelines, Wormhole is questioning whether the current deal truly reflects Stargate’s value and potential. LayerZero’s Offer Sparks Controversy LayerZero proposed a full buyout of circulating Stargate tokens using its own ZRO token, valuing each STG at roughly 17 cents. For the deal to go through, Stargate’s token holders have to approve it. And not just with a simple majority. The vote needs approval from 70 percent of veSTG holders and must meet a specific quorum. Wormhole Pushes Back on Valuation Wormhole doesn’t think the offer matches the actual strength of Stargate’s position. The protocol has more than $92 million in its treasury, most of it in stablecoins and Ethereum. Beyond that, Stargate has been moving serious volume. In July alone, it processed nearly $4 billion in bridge transfers. That’s a tenfold increase from last year. With nearly $350 million in total value locked across dozens of chains, Wormhole believes Stargate is worth more than what’s on the table. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in August2025 A Call to Pause the Vote Wormhole has asked for a short pause in the voting process. The reason is simple. They want the chance to submit a competing proposal. They argue that combining Stargate’s liquidity and user base with Wormhole’s infrastructure could bring better long-term value. They also believe users deserve time to consider options beyond what LayerZero has proposed. BitcoinPriceMarket CapBTC$2.28T24h7d30d1yAll time LayerZero Holds Its Ground LayerZero is defending its proposal. From their perspective, the token swap already includes a fair premium based on Stargate’s market price and fundamentals. They see it as a way to align both projects, bring order to their resource allocation, and fund future buybacks for the ZRO token using Stargate’s revenue. The team believes this is a logical next step rather than a hostile move. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Governance Vote Now in Focus The Stargate community vote is still underway. For it to pass, at least 1.2 million veSTG tokens need to be counted, and 70 percent of those votes must support the proposal. After facing community backlash, LayerZero did revise the plan to give protocol revenue to those holding locked tokens. But the update hasn’t put the issue to rest. The vote remains divisive. What’s at Stake This decision goes beyond one protocol buying another. It reflects bigger questions about how decentralized finance platforms should grow and who should be steering that direction. If LayerZero succeeds, it could mark a major step toward centralizing cross-chain liquidity under fewer umbrellas. If Wormhole gets its shot, it could introduce a model built more on collaboration than consolidation. Either way, Stargate’s next move will likely ripple through the entire bridge and interoperability landscape. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Wormhole is challenging LayerZero’s $110 million offer to acquire Stargate, questioning whether the valuation reflects the protocol’s true potential. LayerZero’s deal involves a ZRO token swap for all circulating STG tokens, but it requires 70% approval from veSTG holders with a quorum met. Wormhole argues Stargate’s $92 million treasury, $350M TVL, and $4B in monthly bridge volume point to a higher valuation and broader strategic value. Wormhole has requested a pause in the vote to submit a competing proposal, suggesting a more collaborative path forward. The outcome of this vote could set the tone for future DeFi mergers, raising questions about centralization versus protocol alignment. The post Wormhole Stakes Its Claim in Stargate Contest appeared first on 99Bitcoins.

Several major crypto advocacy groups have rallied behind Brian Quintenz to lead the Commodity Futures Trading Commission. The letter of support came from a mix of influential organizations including the Crypto Council for Innovation, Blockchain Association, DeFi Education Fund, Digital Chamber, Satoshi Action Fund, and the Solana Policy Institute. They made it clear they believe Quintenz has the right mix of technical understanding and integrity to take on the role. Urgency Underlined in Letter to the President In their message to the President, these groups didn’t hold back. They described this moment as a rare opportunity to bring the United States into what they called a golden age of digital assets. They pointed to Quintenz’s deep knowledge of blockchain and praised his leadership style, judgment, and professional reputation as reasons to move quickly on his confirmation. Familiar Face, Crucial Time Quintenz is no stranger to the agency. He served as a commissioner at the CFTC from 2017 to 2021, a period when crypto markets were beginning to gain real attention from regulators. More recently, he has been involved with policy at a crypto-focused investment firm, giving him continued exposure to how the space has evolved. That track record gives him credibility with both regulators and industry insiders. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Confirmation Stalled in Senate Even with industry backing, his confirmation has hit a wall. The Senate Agriculture Committee postponed a procedural vote twice in July. That pause, according to sources familiar with the process, came after a request from the White House. There’s also been pushback from certain corners of the industry, including notable voices like the Gemini co-founders, who have raised concerns about his nomination. BitcoinPriceMarket CapBTC$2.28T24h7d30d1yAll time Why the Stakes Are High This isn’t just about filling an empty seat. The CFTC is currently operating with only two commissioners, and both have signaled plans to step down. That leaves the agency in a vulnerable spot just as Congress is debating major legislation around digital assets. Without a confirmed chair in place, it will be difficult for the commission to participate meaningfully in shaping how crypto fits into the broader regulatory system. DISCOVER: 20+ Next Crypto to Explode in 2025 Industry Eyes Confirmation as Turning Point The endorsement of Quintenz reflects how seriously the crypto sector is taking this moment. Advocacy groups view his appointment as a way to bring structure and long-term direction to how digital commodities are governed. Regulators are still adapting to the speed and complexity of blockchain innovation. The call for someone who understands both policy and product is louder than ever. What Comes Next The Senate is still in recess, so for now everything is on hold. But behind the scenes, this confirmation process is being watched closely. Whoever takes the helm at the CFTC will help shape how innovation and regulation interact going forward. It’s not just about one man’s career. It’s about who gets to set the tone for how crypto fits into the future of financial oversight in the U.S. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Top crypto advocacy groups are backing Brian Quintenz for CFTC Chair, calling him the right mix of policy experience and blockchain knowledge. Supporters sent a letter to the President urging a quick confirmation, framing this as a chance to advance responsible crypto regulation. Quintenz previously served as a CFTC commissioner and more recently worked with a crypto investment firm, giving him industry and policy credibility. Despite strong industry support, his confirmation has stalled in the Senate. This is reportedly due to a White House delay and pushback from some crypto figures. The CFTC is facing leadership gaps during a crucial legislative moment. Industry leaders see Quintenz as a key figure to guide crypto oversight. The post Crypto Alliances Back Quintenz for CFTC Chair appeared first on 99Bitcoins.

Ethereum price started a recovery wave from the $4,050 zone. ETH is now back above $4,220 but it faces many hurdles near $4,400. Ethereum started a recovery wave above the $4,150 and $4,220 levels. The price is trading below $4,350 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $4,355 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $4,220 zone in the near term. Ethereum Price Faces Resistance Ethereum price extended losses after there was a close below the $4,250 level, like Bitcoin. ETH price gained bearish momentum and traded below the $4,150 support zone. The bears were able to push the price below the $4,120 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. However, the bears are active near 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 $4,355 on the hourly chart of ETH/USD. Ethereum price is now trading below $4,355 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,350 level. The next key resistance is near the $4,380 level. The first major resistance is near the $4,460 level. A clear move above the $4,460 resistance might send the price toward the $4,500 resistance. An upside break above the $4,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,550 resistance zone or even $4,565 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,380 resistance, it could continue to move down. Initial support on the downside is near the $4,240 level. The first major support sits near the $4,200 zone. A clear move below the $4,200 support might push the price toward the $4,120 support. Any more losses might send the price toward the $4,050 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 – $4,220 Major Resistance Level – $4,380

TRON (TRX) has maintained relative stability despite recent market-wide corrections, recording only a minor decline of around 2% over the past week. The asset continues to hold above $0.35, reflecting steadiness when compared to other major altcoins. On a longer time frame, TRON remains in an upward trend, posting a 4.7% gain in the last two weeks. This performance stands out against a backdrop of volatility across the broader cryptocurrency market. Analysts suggest that part of this resilience may be tied to TRX’s relative strength against Bitcoin (BTC). Market data indicates that while most leading altcoins have shown weakness in their BTC pairs, TRON has demonstrated consistent momentum. This divergence has drawn closer attention from traders and investors seeking assets that maintain performance during corrective phases in the crypto sector. TRX Outperforms Altcoins in BTC Pairs According to data shared by CryptoQuant contributor Crazzyblockk, TRON has outpaced other major altcoins in weekly BTC pair performance. The TRX/BTC ratio recorded a 2.66% increase, while ETH/BTC remained nearly flat at 0.02%, XRP/BTC dropped by 2.28%, and SOL/BTC rose by just 0.85%. This distinction suggests stronger market demand for TRX compared to its peers. The analyst explained that TRON’s sustained performance in its BTC pair highlights growing investor interest and resilience at a time when other altcoins continue to struggle. “While most altcoins continue to face uncertainty in their BTC pairs, TRON stands out with consistent positive momentum, suggesting stronger demand and resilience,” Crazzyblockk noted. He further added that monitoring TRX’s strength against Bitcoin could provide signals of broader capital rotation toward TRON, especially if the trend continues over the coming weeks. TRON Network Expands as USDT Adoption Surges Beyond price performance, the TRON network has seen notable growth in its role as a leading blockchain for stablecoin activity. Another CryptoQuant analyst, Arab Chain, highlighted that TRON has consolidated its position as the primary network for USDT transactions. From January to August 2025, the number of cumulative addresses receiving USDT on TRON surged from about 5 million to over 35 million. This expansion shows TRON’s increasing use case for remittances and digital payments, supported by its low-cost and high-speed infrastructure. While the number of addresses may not precisely reflect individual user counts, the steady increase points toward broad adoption across exchanges, wallets, and decentralized applications. Arab Chain observed that the consistent rise indicates genuine demand and organic network growth, with new participants entering the ecosystem rather than merely reusing existing accounts. The trend also points to a maturing ecosystem for TRX as a central hub for stablecoin flows. The analyst notes that the platform’s ability to capture a large share of the stablecoin market reinforces its strategic role in the wider cryptocurrency sector. If this momentum continues, TRX could further establish itself as a foundational layer in the digital asset economy, particularly in the context of global stablecoin adoption. Featured image created with DALL-E, Chart from TradingView

Bitcoin price is attempting to recover from $112,500. BTC is back above $114,000 but faces many hurdles on the way up to $120,000. Bitcoin started a recovery wave above the $113,500 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 $114,800 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 Finds Support Bitcoin price started a fresh decline after a close below the $115,500 level. BTC gained bearish momentum and traded below the $113,500 support zone. There was a move below the $113,000 support zone and the 100 hourly Simple moving average. The pair tested the $112,500 zone. A low was formed at $112,400 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 $112,400 low. Bitcoin is now trading below $115,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $114,800 level. There is also a key bearish trend line forming with resistance at $114,800 on the hourly chart of the BTC/USD pair. The first key resistance is near the $115,000 level. The next resistance could be $115,500. A close above the $115,500 resistance might send the price further higher. In the stated case, the price could rise and test the $118,400 resistance level. It is close to the 50% Fib retracement level of the recent decline from the $124,420 swing high to the $112,400 low. Any more gains might send the price toward the $120,000 level. The main target could be $121,500. Another Decline In BTC? If Bitcoin fails to rise above the $115,000 resistance zone, it could start a fresh decline. Immediate support is near the $113,500 level. The first major support is near the $112,400 level. The next support is now near the $111,500 zone. Any more losses might send the price toward the $110,000 support in the near term. The main support sits at $108,000, 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 – $113,500, followed by $111,500. Major Resistance Levels – $115,000 and $115,500.

Digital-asset investment products pulled in $3.75 billion last week, lifting assets under management to $244 billion on August 13. The total ranks among the largest weekly inflows seen recently, CoinShares data shows. Prices rose, but the main driver was money moving into funds rather than a broad retail rush. Concentrated Flows From A Single Product Based on reports from CoinShares, almost all of the inflows came through one provider. The US accounted for $3.73 billion, almost the entire week’s total. Canada added $33.7 million, Hong Kong close to $21 million, and Australia $12 million. By contrast, Brazil and Sweden recorded outflows of $10.6 million and $50 million. Market participants say the bulk of the cash was funneled into a single iShares product, which helps explain how a relatively narrow set of flows moved overall AUM so sharply. Ethereum Draws The Most Money Ethereum attracted the lion’s share of last week’s inflows at $2.87 billion, or 77% of the total. That brings year-to-date net inflows into ETH to about $11 billion. Ethereum now makes up nearly 30% of assets under management, versus Bitcoin’s 11.6%. Bitcoin’s weekly intake was $552 million. Other moves included Solana taking $176.5 million and XRP adding $126 million, while Litecoin and Ton showed small outflows of $0.4 million and $1 million, respectively. These numbers point to a clear shift in where institutional money is parked this week. Corporate Holdings And Supply Notes Reports have disclosed that more than 16 companies have added Ethereum to their balance sheets, according to CryptoQuant. Together they hold about 2.45 million ETH, valued at roughly $11 billion, and those coins are effectively out of circulation while locked in treasuries or cold storage. It’s worth noting that Ethereum does not have a fixed supply like Bitcoin; about one million ETH was added to supply last year, and supply dynamics can vary with network activity. Watch Futures And Large Holders Futures open interest sits near $38 billion, a sizeable figure that raises the chance of swift price moves when positions are closed. Large, concentrated holders and sudden shifts in futures positions have shown they can push prices sharply in either direction. For now, this is a flow-driven event more than a broad retail surge. If the same product keeps taking in large sums, it will keep adding upward pressure. At the same time, thin liquidity and big positions can flip gains into losses fast. Investors and traders should keep an eye on weekly fund flows, futures open interest, and on-chain movements to see whether the trend spreads beyond a few big buyers. Featured image from Meta, chart from TradingView

In a thread on August 19, analyst Miles Deutscher argued that MicroStrategy’s market-implied net asset value (mNAV) premium—the core gear in Michael Saylor’s Bitcoin acquisition flywheel—has compressed sharply, weakening the feedback loop that helped the company outpace Bitcoin through most of the cycle. “Michael Saylor built the craziest BTC flywheel in history. But his buying power is starting to fade. The market is now asking one question: ‘Is the BTC treasury bubble finally popping?’” MicroStrategy’s Bitcoin Premium Is Fading Deutscher grounds the discussion in how investors currently value MicroStrategy. “People often overlook that MicroStrategy has a legacy software business, which continues to generate revenue. However, MicroStrategy has essentially become a company whose valuation is primarily influenced by its BTC holdings. The entire system is powered by mNAV (Market-Implied NAV).” In practical terms, the mNAV multiple is the premium investors pay over the company’s look-through Bitcoin value to access leveraged BTC exposure via MSTR. “An mNAV of ~1.58x means the market is paying a 58% premium for their BTC.” According to Deutscher, that premium “was once a 3.4x mNAV” when Bitcoin was surging, but it has “now decreased to 1.58x. Demand is slowing down.” In other words, what had been a powerful flywheel—high premium enabling cheap equity issuance that funded more Bitcoin purchases, which in turn kept NAV rising and the premium elevated—now spins with much less torque. That shift intersected with a contentious corporate action. “Recently, Saylor sparked controversy by revealing that Strategy had revised its MSTR Equity ATM Guidance to offer greater ‘flexibility’ in executing its capital markets strategy.” The implication, Deutscher argues, is that greater issuance flexibility “may dilute shareholder value and increase financial risk tied to Bitcoin’s volatility.” He notes that “the market is quite divided” on the change. On the constructive side, he quotes @thedefivillain’s take—“Slower concentration of supply in Saylor’s hands,” “Greater leverage to justify mNAV,” and “Reduced buying pressure for BTC in dollar terms”—as reasons the revision could ultimately be benign. But critics worry about “the possibility of a ‘death spiral.’ The removal of the 2.5x mNAV safeguard for equity issuance may allow MicroStrategy to sell shares at lower valuations.” Reflexivity, in Deutscher’s telling, is the operative risk factor: “Reflexivity is a brutal force that operates in both directions.” A Hypothetical Scenario Deutscher then sets up a stress-test to illustrate how that reflexivity could bite if Bitcoin weakens and the premium compresses to parity. “If BTC’s price drops 20% and MicroStrategy’s mNAV multiple falls to 1.0x, the stock might plummet by 46.5%.” He walks through the arithmetic from a notional baseline of $115,000 per BTC, which on a 20% decline would fall to $92,000. On MicroStrategy’s “226,331 BTC,” he calculates that would put look-through NAV at $20.82 billion. To align an mNAV of exactly 1.0x, he backs into enterprise value and market cap under that scenario: “Starting with an enterprise value of $20.82 billion, we subtract MicroStrategy’s $2.2 billion in debt and add its $0.1 billion in cash. This calculation unveils the company’s market cap, hitting $18.72 billion, a significant pullback from its original $35 billion market cap.” The conclusion he draws from the modeled path—BTC −20% to ~$92,000, mNAV → 1.0x, MSTR market cap −46.5%—is that MicroStrategy’s equity remains a leveraged instrument with an outcome path that can be materially worse than Bitcoin itself when the premium compresses. Beyond the scenario math, Deutscher links recent spot price action to changing marginal demand. “I think BTC’s recent weakness can be attributed to the market starting to price in reduced Saylor demand/tail potential risk of the revised ATM guidance.” In parallel, he highlights how the proliferation of spot ETFs erodes the original rationale for paying a large listed-company premium to own BTC “beta”: “Spot Bitcoin ETFs are plentiful now. Why would you pay a 58% premium for MSTR’s leveraged exposure when you can grab IBIT at a clean ~1.0x NAV?” By his framing, the mNAV premium itself “was indicative of the market’s view that MSTR was going to outperform BTC.” With that view fading, the premium looks less like an enduring structural feature and more like a belief-sensitive variable. “In my opinion, the MSTR premium is essentially a gamble. You’re betting on three fragile things: unwavering market confidence, open capital markets, and Saylor’s leadership. If any of those pillars start to wobble, the premium collapses.” At press time, BTC traded at $113,624.

XRP slipped below the critical $3.00 level this week, extending its losing streak as whale sell-offs and regulatory uncertainty weighed heavily on the market. Currently trading at $2.8, XRP has made a 3.68% decline in the past 24 hours, with trading volume rising slightly by 0.82% to $6.85 billion. The latest downturn comes after on-chain data revealed that whales offloaded 470 million XRP tokens over the past 10 days, slashing their cumulative holdings to just 7.63 billion coins. Large-scale exits by wallets holding between 10 million and 100 million XRP suggest institutional desks and high-net-worth traders are taking profits after XRP’s recent rally to above $3.39 earlier this month. XRP Price Action: $2.85–$2.90 Becomes Key Battleground Price action data shows XRP’s sharpest drop occurred between 13:00 and 15:00 UTC on August 19, when it slid from $3.04 to $2.93 as volume spiked to 137 million, nearly double the daily average. Despite heavy selling, buyers repeatedly defended the $2.85–$2.88 zone, preventing further collapse. Currently, XRP is consolidating near $2.85–$2.90, a sign that short-term selling pressure may be easing. Still, resistance at $3.04 has been confirmed, making a bullish recovery difficult without stronger demand. Can Bulls Hold the Line at $2.8? For traders, the $2.8 level is now the most critical support to watch. A breakdown could open the door for a deeper decline, while reclaiming $3.00 would signal renewed buyer strength. Analysts note that a recovery above $3.19 is essential for momentum to shift back in favor of the bulls. Adding to the pressure, a security audit ranked the XRP Ledger lowest among 15 major blockchains, sparking concerns over long-term resilience. Meanwhile, the U.S. SEC has delayed decisions on several XRP ETF applications, including Nasdaq’s CoinShares filing, until October, deepening regulatory uncertainty. Until the SEC rules on ETF filings in October, XRP may remain volatile as whales continue to offload and institutional investors adjust their portfolios. Whether this dip is a healthy correction or the start of a broader downturn will depend on how well XRP can defend its current support levels in the days ahead. Cover image from ChatGPT, XRPUSD chart from Tradingview

Pump.fun, Solana’s premier memecoin launchpad, has stormed back to the top of the sector, reclaiming market share, revenue dominance, and developer loyalty after a brief but intense challenge from LetsBonk.fun. According to fresh Dune Analytics data, Pump has amassed over $800.6M in lifetime revenue, cementing its status as one of the most profitable platforms in crypto history. (Source) At its core, Pump monetizes through a 1% swap fee on token trades, a seemingly simple mechanism that has turned into an unstoppable cash engine as meme coin mania continues to rage across Solana. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 What’s Driving Pump.Fun Revenue Recovery? The Exodus and Return of Top Builders The turnaround comes after several weeks of turbulence in July, when LetsBonk, a Bonk-backed launchpad with close ties to Raydium’s LaunchLab, briefly seized momentum. At one point, the platform captured over +70% market share, luring frustrated creators away with a revenue-sharing model and deeper liquidity pools. But the honeymoon proved short-lived. By mid-August, traders were reporting that the top 10 LetsBonk deployers had migrated back to Pump, bringing their projects and volumes with them. As one crypto analyst put it, “LetsBonk promised upside, but when liquidity thinned and token graduation slowed, developers defaulted to what works. That’s Pump.” The impact has been brutal. Pump is once again clearing more than $1M per day in revenue, while LetsBonk’s daily haul has collapsed below $30,000, a staggering reversal from the $1M peaks it touched just weeks ago. Token graduation stats underline the shift. In the last 24 hours alone, Pump graduated over 170 tokens, compared tojust five on LetsBonk. Its market share has rebounded above 70%, while the challenger is fading into near-irrelevance. Part of Pump’s resurgence lies in its willingness to evolve. Last month, it launched its own token (PUMP) via an explosive $600M ICO completed in just 12 minutes. Since then, a buyback program, offering a premium above market rates, has been rolled out to prop up the token’s value and reinforce community confidence. Pump has also pushed liquidity initiatives, including the “Glass Full Foundation,” aimed at stabilizing promising meme coins through direct support. This, coupled with a network effect of creators and traders, has reasserted Pump as the only launchpad with true staying power on Solana. DISCOVER: 20+ Next Crypto to Explode in 2025 The Bigger Picture: Solana vs. Base Yet, while Pump reasserts dominance on Solana, the battleground for meme coin supremacy is widening. The Coinbase-backed Base chain has recently overtaken Solana in overall meme coin volumes, thanks to its new Base App, which merges token trading with decentralized social features. Still, on Solana itself, Pump.fun remains the undisputed kingpin, thriving even amid a $5.5Bn class-action lawsuit that critics argue paints it as nothing more than a “crypto casino.” For now, the numbers tell the story: Pump.fun has reclaimed its place at the heart of Solana’s memecoin economy, and with nearly a billion dollars in revenue under its belt, the platform shows no sign of slowing. DISCOVER: Top Solana Meme Coins to Buy in 2025 The post Pump.fun Reclaims Dominance as Top Meme Coin Builders Flock Back appeared first on 99Bitcoins.

Platinum Price: What Moves It, How to Read the Chart, and Where It Fits You worked hard for your savings, Sir, and you deserve clarity, not noise. Platinum is rare, practical, and widely misunderstood. If you grasp what drives the platinum price, know how to read a chart without getting lost, and see how it differs from gold and palladium, you can make steadier decisions. This guide keeps the spin out and the common sense in. What Actually Moves the Platinum Price Platinum lives in two worlds: the jewelry case and the factory floor. Most demand comes from industry, especially emissions-control parts and chemical processes. That industrial pull, combined with a concentrated mining base, creates a tighter market than many expect. When factories hum, demand rises. When growth cools, demand eases. Supply is not a quick lever; mines cannot flip a switch to add ounces overnight. On top of that sits the investor layer. Retirement savers, funds, and dealers step in when they want diversification, an inflation hedge, or protection from currency weakness. That extra bid can push the platinum price higher when the market is already tight. On the flip side, when investors de-risk into cash, price can slip even if factories still need the metal. The lesson: watch industry, watch supply, and track sentiment. That trio usually explains more than any hot take. Headlines vs. reality News loves a simple story: platinum surged because of one event, or slumped because of another. Reality is a blend. A supply hiccup here, a production cut there, and suddenly the balance tilts. You do not need a PhD. Stick to the basics and the pattern shows up. Supply and Demand in Plain English Supply is concentrated, with a few regions producing most of the world’s primary platinum. Recycling adds a meaningful second stream, especially from spent catalytic converters and industrial equipment. Demand splits roughly into three lanes: automotive and industrial uses, jewelry, and investment products. When any one lane accelerates or slows, the platinum price responds. Industrial demand rises with manufacturing cycles and emissions standards. Jewelry demand is sensitive to consumer incomes and fashion trends. Investment demand swings with inflation, interest rates, and the dollar. How to Read a Platinum Price Chart Without Getting Lost Charts are road maps, not crystal balls. Start with time frame. A one-week chart is noise; a one- to five-year view shows the real terrain. Mark the big turns and ask what changed in industry, currency, and mining around those dates. Keep brief notes; history repeats more often than you think. Use simple checkpoints. Where is price relative to its recent average. Are highs pushing higher or stalling. Are lows rising or breaking down. You do not need fancy indicators; a clean chart and a steady routine beat a dozen blinking signals. Review two views: one year and five years. Short term plus long term keeps you grounded. Circle zones where buyers previously stepped in. Prior support often matters again. Write the basic catalyst at each major swing. A two-line note today becomes wisdom tomorrow. A quick chart story A retired firefighter stopped chasing headlines and checked one chart each Sunday. He circled three price zones and ignored everything else. His stress dropped. His decisions improved. That is not magic; that is discipline. Weights and Units: Grams, Ounces, and Kilograms Precious metals use the troy ounce, not the kitchen ounce. Get the unit right before you compare prices. One troy ounce equals about 31.1035 grams. A kilogram contains about 32.1507 troy ounces. That simple conversion lets you move between coins, bars, and industrial quotes without confusion. Small investors often prefer one-ounce coins or bars for simplicity. Jewelers and manufacturers talk in grams or kilograms. Both approaches are fine. The key is consistency. If a quote is per ounce and you hold grams, convert before you judge fairness. Precision is not fancy; it is practical. Durability and purity matter Platinum resists corrosion and oxidation, which is why it appears in rings, lab gear, and high-heat equipment. Investment-grade products are typically very pure, with fine platinum often listed around 0.9995. Bars and coins from established mints and refiners trade more easily because buyers trust the specs. Platinum vs. Gold and Palladium: Real Differences People love to compare platinum and gold. Historically, platinum sometimes traded above gold; at other times it traded below. Those flips reflect platinum’s industrial heartbeat. Gold is driven more by investors and central banks. Platinum responds more to factories and technology cycles. Neither is “better” in all seasons; they play different roles. Palladium is the other player in the family. Automakers have shifted demand between platinum and palladium over the years based on performance needs, regulation, and price. That tug-of-war matters because substitutions can push platinum demand up or down. Technology changes, the balance shifts, and the market reprices. You do not need to guess the winner every round—just understand that demand rotates. An expectation check A retired teacher once assumed platinum must always cost more than gold because of the name and jewelry ads. She looked at a long-term chart, saw the periods where that was not true, and laughed. Expectations are stubborn; facts are better. Platinum as an Investment: A Practical Framework Platinum is not a lottery ticket. It is a scarce industrial metal with investment appeal. Some retirees like that it does not move in lockstep with stocks. Others appreciate the inflation hedge across multi-year cycles. Start with purpose. Are you looking for diversification. Trying to reduce the sting when markets wobble. Clear goals help you decide how, or if, platinum belongs in the mix. Consider the vehicle. Physical products come with premiums, shipping, and storage. Market products have their own rules. Neither is always best. If you want something you can hold, you accept storage and spreads. If you want easy liquidity, you accept market mechanics. Write the plan down and follow it. Vehicle options at a glance Coins and bars: tangible, simple to understand, but include premiums and storage considerations. Exchange-traded products: convenient and liquid, but subject to fund structure and fees. Futures and options: efficient exposure, higher complexity, and require strict risk controls. Mining equities: leverage to price, but also company-specific risks and broader stock-market swings. Costs, Liquidity, and Storage With physical metal, look at the all-in cost: the buy premium, potential sales spread, and storage. Home safes, bank boxes, and professional depositories each have trade-offs. With market products, examine fees, bid-ask spreads, and how the product tracks the platinum price. Liquidity is generally solid during normal hours, but the market is smaller than gold, so swing risk can be higher. Why Prices Sometimes Surprise You Industrial headlines can move platinum fast. A plant shutdown, a change in emissions rules, or a technology update can reroute demand. When that happens, do not panic. Ask three questions: is the change temporary or structural, did supply adjust, and are investors exaggerating a short-term hiccup. Calm beats chaos every time. Is Platinum Attractive Right Now: A Sensible Approach Investors crave a yes or no. Real life is not that neat. Use a simple, repeatable approach. First, check the platinum price across multiple time frames. Second, read a couple of credible supply-demand summaries. Third, scan for near-term policy or technology shifts that could nudge demand. Put those together and decide whether current price looks stretched or fair without leaning on a guru. The next five years: what to watch Industrial adoption and manufacturing cycles. Mine output, recycling flows, and any supply disruptions. Interest rates and currency trends that influence investor appetite. Technology changes in transportation and energy that may affect catalyst or hydrogen-related uses. Simple Checklists for Retirees Who Want Clarity Complication is the enemy. Use short lists and stick to them. Price sanity check: compare today’s quote to the one-year and five-year ranges; note if price sits near the floor or ceiling of both. Unit check: confirm ounces, grams, or kilograms; convert confidently using 1 troy ounce ≈ 31.1035 grams and 1 kilogram ≈ 32.1507 troy ounces. Purpose check: write down why you are considering platinum—diversification, inflation defense, liquidity, or income balance. Logistics check: for physical, understand premiums, shipping, and storage; for market products, understand fees, tracking, and trading rules. Behavior check: promise not to react to a single scary headline; review monthly, not hourly. The calm notebook method A retired nurse kept a small notebook for each big purchase: the reason, the price range, and what would change her mind. Ten minutes of writing saved her from a dozen impulsive decisions. You can do the same with platinum. Risk Factors to Respect Every asset carries risk. With platinum, keep four in view. First, market size: smaller than gold, so swings can be sharper. Second, substitution risk: technology and price shifts can move demand between platinum and palladium. Third, supply concentration: a few regions and refiners matter a lot. Fourth, policy risk: emissions standards and energy policies can tilt demand faster than expected. None of these are deal-breakers; they are simply realities to manage. Platinum in Context: How It Complements Other Metals Gold is the classic store of value, driven by investors and central banks. Silver blends industry with investor appeal and can move faster in both directions. Platinum is more industrial, powered by technology and manufacturing, with investment demand as a second engine. Palladium crosses similar lanes and often trades based on automaker needs. Place platinum in that lineup and the role is clear. It can zig when stocks zag because its drivers differ. It can also surprise you with sharp moves because the market is smaller. Treat platinum like what it is—a scarce industrial precious metal with real-world utility—and the price action makes sense. Final Words: Steady Hands Win You do not need to predict the exact platinum price to be a responsible steward of your savings. You need a framework you trust. Understand the drivers, read the chart in context, keep your units straight, and respect the differences between metals. Use short checklists and write down your purpose. When the noise gets loud, return to your notes. Simple is the point. Steady hands win when you know what you own and why you own it. The post Platinum Price first appeared on American Bullion.

After hitting a new all-time high (ATH) of $124,474 on Binance on August 13, Bitcoin (BTC) has tumbled toward $113,000, with the next major support zone around $110,000. Analysts warn that more downside could still be ahead for the top cryptocurrency. Bitcoin To Fall More? Crowded Long Trade Gives Hint According to a CryptoQuant Quicktake post by contributor XWIN Research Japan, Bitcoin open interest across all exchanges has surged past $40 billion, nearing ATH territory. This rise shows both whales and short-term traders are piling into leveraged positions. The chart below highlights the recent spike in BTC open interest, now hovering at $40.6 billion. Compared to August 2024 levels of $15 billion, open interest has grown by more than 150%. The CryptoQuant contributor added that despite this surge, the funding rate has remained positive, showing a strong long bias. While this reflects market optimism, it also signals a crowded trade, with most participants betting on further BTC appreciation. As a result, the risk of a long squeeze – forced liquidations of long positions due to aggressive leverage – has risen. XWIN Research Japan explained in their analysis: A sudden price drop can trigger a cascade of forced selling, amplifying volatility. In other words, Bitcoin’s short-term moves remain at the mercy of speculative flows. BTC Fund Holding By Institutions Rises Despite speculative froth from excessive leverage in the market, BTC fund holdings by Bitcoin exchange-traded funds (ETFs) and institutional investors continue to surge, exceeding 1.3 million according to latest data. Spot ETFs and corporate treasuries absorbing BTC provides the digital asset a structural bid that steadily reduces its available supply. According to data from SoSoValue, US-based spot Bitcoin ETFs currently hold $146 billion in net assets – representing 6.47% of BTC’s market cap. That said, this week alone has seen more than $645 million in outflows from spot Bitcoin ETFs, following two consecutive weeks of inflows totaling nearly $800 million. Among the ETFs, BlackRock’s IBIT leads with $84.78 billion in net assets as of August 19. Still, not all signals are bearish. For instance, while BTC slipped below $115,000, its spot trading volume surged past $6 billion, giving bulls hope for a potential rebound. Similarly, technical analyst AO recently suggested that BTC could be mirroring gold’s trajectory, with an ambitious target of $600,000 by early 2026. At press time, BTC trades at $113,845, down 1.5% in the past 24 hours.

Ethereum (ETH) is struggling to hold above $4,200 after a sharp sell-off triggered widespread liquidations across the crypto market. It has dropped nearly 9% over the past week, with traders bracing for a potential retest of the $4,100 level. Data from CoinGlass shows that more than $178 million in positions were liquidated in the past 24 hours, with ETH long traders suffering the biggest blow, over $127 million wiped out. A notable case saw one Hyperliquid trader lose nearly $6.2 million after re-entering ETH longs too aggressively, turning months of gains into heavy losses within just two days. This volatility comes as Ethereum’s exit queue for staking withdrawals has surged to 910,461 ETH, worth about $3.91 billion, signaling an upcoming wave of supply that could pressure prices further. Institutional Investors Step in Despite Market Jitters Despite retail pain, large institutional players appear to be buying the dip. Bitmine Immersion, the biggest publicly traded ETH holder, recently added 52,475 ETH, bringing its holdings to nearly $6.6 billion. SharpLink followed suit, purchasing 143,593 ETH at $4,648, though its position is now underwater. Blockchain trackers also flagged new inflows from FalconX-linked wallets worth over $38 million. This suggests that while short-term sentiment remains shaky, big-money investors continue to accumulate ETH, betting on its long-term value. Ethereum (ETH) Analysts Warn of Deeper Losses Before Recovery Market experts caution that Ethereum may remain under pressure as macroeconomic uncertainty looms ahead of the U.S. Federal Reserve’s Jackson Hole meeting. Pessimistic tone from Fed Chair Jerome Powell could trigger further risk-off sentiment across crypto and equities. On-chain activity has also weakened. Active Ethereum addresses have dropped nearly 28% in August, signaling waning retail participation. Network growth has slowed as well, raising questions about near-term demand. Still, analysts see long-term upside once the market absorbs the $4B staking unlock. Some forecasts remain bullish, with Ethereum projected to reach between $6,000–$8,000 by year-end if institutional flows persist. For now, however, the critical question remains: can ETH defend $4,000, or will supply pressure drag it into a deeper correction? Cover image from ChatGPT, ETHUSD chart from Tradingview

The Securities and Exchange Commission is moving in a different direction on crypto. Chair Paul Atkins confirmed that the agency will launch the President’s Digital Assets Group, a step he says will open a new chapter in US regulation. White House Roadmap According to Atkins, the first objective of the new group will be to carry out recommendations from the President’s Digital Asset Markets Working Group. His remarks came during the Wyoming Blockchain Symposium, where he introduced what he called “Project Crypto” and promised to move away from regulation by enforcement. Atkins stated the SEC will not rely on old methods. Instead, the commission intends to create rules that prevent abuse but remain flexible enough for technology’s rapid development. Atkins said the effort is part of US President Donald Trump’s extensive push for a more transparent policy on digital assets. Investor Protection And Innovation Atkins praised the administration for supporting a plan that he says balances investor protection with space for innovation. He added that cooperation with Congress, the White House, and other agencies will help keep US policy consistent and aligned with international standards. This is a clear contrast to the approach of his predecessor, Gary Gensler, who frequently said most tokens were securities under existing rules. Critics of Gensler’s stance argued it drove innovation overseas and created a climate of uncertainty. Atkins rejected that argument, saying very few tokens meet the definition of securities. The way tokens are packaged, marketed, and sold matters more, he explained. Flexible Rules For Developers The shift could make it easier for crypto projects to operate in the US without immediately being treated as securities. Reports show that the President’s DAWG released a roadmap in July urging regulators to introduce rules that encourage businesses while maintaining investor safeguards. Atkins said the SEC will stick closely to that roadmap. Exemptions & Transparency He explained that the commission will provide exemptions, safe harbors, and new disclosure standards tailored for crypto companies. That would replace the “one-size-fits-all” system that has frustrated the industry for years. Activities such as ICOs, airdrops, network rewards, and building decentralized apps may be treated more flexibly under this plan. Atkins clarified that the new approach does not mean a free-for-all, but rather a structure designed to support responsible growth. Featured image from Meta, chart from TradingView

Log in to today's North American session Market wrap for August 20 Today's trading was a bit hectic, between a huge selloff in the Stocks that got met with some mean-reversion dip-buying (break-retest on the Nasdaq?), a dovish cut from the RBNZ sending the Kiwi slumping and some more turmoil at the Federal Reserve, Markets got some action. FED's Cook, one of the last reminder of Biden's appointee is being accused of Mortgage fraud, with US President Trump "gently" asking her to resign and is rumoured to be fired soon. Nasdaq 2H Chart, August 20, 2025 – Source: TradingView A break-retest from the longer-term upward channel could be into play, despite the Index closing above the psychological 23,000 level – We shall see tomorrow. Palantir is one of the biggest victims of this ongoing correction in tech stocks, down around 20% from peak to trough (but has rebounded a bit since to only down 15.40% in 5 days). Market participants seem to be cleaning their books in the anticipation of the Jackson Hole Symposium beginning tomorrow evening – The full agenda will be available here at 20:00 ET. For the FOMC Minutes, nothing new happened except for another mention of the FED's division – FED's Schmid pushed back against Bowman's "inflation ex-tariff's measure". You can access WSJ's amazing report on the (non-)event right here. He is always a person to follow when it comes to FED communication. Read More: Diplomatic advances fail to prevent Stocks correction— North American Mid-Week Market UpdateCross-Assets Daily Performance Cross-Asset Daily Performance, August 20, 2025 – Source: TradingView The timing for my morning Nasdaq/Tech drop article couldn't have been worse – (I did mention some oversold levels at least) A very interesting rebound happened in Ethereum which spreaded to the Nasdaq shortly after around 11:00 A.M. The outlook is still a bit mixed, with most commodities finishing the session higher. Interesting trading as markets brace for the upcoming Jackson Hole Symposium. A picture of today's performance for major currencies Currency Performance, August 20 – Source: OANDA Labs The NZD was really the outperformer (to the downside) in today's session. The CHF on the other hand held pretty strong – It seems that there is some work happening with the Swiss Tariffs but the story has to be confirmed. 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. This evening and tomorrow's session begin the huge number of PMI releases – Get ready! NZD traders should also brace for this evening's New Zealand Trade Balance at 6:45 P.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.

Fed Independence Trump’s Pressure on the Fed: A Threat to Independence? For decades, the independence of the Federal Reserve has been considered a cornerstone of U.S. financial stability. The last major challenge to this independence dates back to the early 1970s when President Richard Nixon pressured Fed Chair Arthur Burns to cut interest rates before an election. Fast forward to today, and history appears to be repeating itself. President Donald Trump has launched a relentless campaign urging the Fed to lower interest rates, often criticizing Fed Chair Jerome Powell publicly. This persistent pressure raises serious questions: Can the Fed remain independent under such political fire? Trump’s Pressure on the Fed US President Trump’s post: Chould somebody please inform Jerome ”Too Late” Powell he is huting the Housing Induxtry very badly People cn’t get mortgage because of him… every sign is pointing to a major Rate Cut? “Too Late” isa disaster.” Political Pressure Meets Monetary Policy The situation has escalated beyond Trump’s tweets. Treasury Secretary Bessent has reiterated calls for lower interest rates, and even the FHA chairman recently joined the fray with comments Calling for lower interest rates and attacking Powell. Meanwhile, there have been Trump’s call for Fed Governor Lisa Cook to resign over an alleged mortgage scandal, whether true or not, critics argue it reflects an effort to shape a more dovish Fed board. Source Newsquawk.com The Tariff Effect: A Complicating Factor Adding to the uncertainty is the ongoing tariff war, which has yet to fully impact consumer prices. So far, many corporations, importers, exporters, and manufacturers have absorbed the costs. But this is not sustainable. At some point, higher tariffs will filter through to consumer prices, potentially sparking inflation risks. While some hope for only a temporary spike in inflation, the reality is we are in uncharted waters. No one can predict how these forces will play out, which explains the Fed’s cautious approach to cutting interest rates. Markets Eye Powell’s Jackson Hole Speech Global markets are laser-focused on Fed Chair Powell’s upcoming speech at the Jackson Hole symposium. The stakes could not be higher. If Powell signals a dovish shift, it may look like the Fed is caving to Trump’s demands for easier monetary policy. If he digs in his heels, citing recent reports of rising core inflation and producer prices, it will likely intensify Trump’s criticism. The Fed is truly caught between a rock and a hard place. Will Powell acknowledge signs of a slowing economy and labor market? Will he highlight the inflation risks from tariffs? Or will he take the central banker’s traditional route, emphasizing that the Fed remains data-dependent? What’s Next for Fed Independence? Markets are already pricing in a September rate cut, but beyond that, Powell has little incentive to telegraph further moves. For now, Fed independence appears intact, but with Trump’s pressure campaign showing no signs of easing, the battle may just be beginning especially as Powell’s term ends in April 2026. The post Trump’s Pressure on the Fed appeared first on Forex Trading Forum.

Ethereum is currently under pressure inside a falling channel, consolidating after its recent rally. With $4,150 acting as key support, ETH seems to be preparing for a bounce back toward the $4,788 resistance and all-time high zone. ETH Holds Steady Near $4,190 As $4,150 Support Faces Test Ash Crypto, in his recent Ethereum 4H chart analysis shared on X, pointed out that ETH is currently trading around $4,190, holding just above the key $4,150 support zone. This level has been acting as an important cushion for price action. He further noted that Ethereum’s price movement is unfolding within a falling channel, a pattern that typically reflects short-term corrective pressure. This comes after the strong upward rally seen earlier this month, suggesting that the market is currently pausing and consolidating gains before deciding its next major direction. According to the analyst, if buyers can defend the $4,150 support, ETH may gain sufficient strength to attempt a breakout from the channel. Such a move could pave the way for a retest of the $4,788 resistance level or the all-time high zone. A successful push above this area would likely ignite renewed bullish momentum and possibly extend the larger uptrend. On the other hand, if the $4,150 level gives way under sustained selling pressure, Ethereum could face a deeper retracement. The next strong support lies around $3,900, a level that aligns with higher-timeframe support zones. This makes it a crucial area for bulls to defend, as a failure to hold there could shift market sentiment and signal the start of a more extended correction. Ethereum’s Next Move Hinges On Key Price Levels In his analysis of Ethereum, Ash Crypto emphasized the importance of momentum and key levels to watch closely. He pointed out that ETH is currently trading within a short-term bearish structure, characterized by a series of lower highs and lower lows on the chart. Despite this temporary weakness, Ash highlighted that a breakout above the falling channel would be a major shift in momentum. Such a move would flip the current bearish outlook into a bullish one, signaling the possibility of renewed upside pressure and a potential continuation of the broader uptrend. On the downside, the most critical support remains at $4,150. If this level fails to hold, the next strong support can be found at $3,900. As for the upside, the resistance to watch is $4,788. A successful retest and breakout above this level would likely confirm a strong bullish reversal, opening the door for ETH to push into uncharted territory.

GoldMining (TSX: GOLD; NYSE American: GLDG) plans to leverage the antimony price’s strong rally into a new resource estimate after reviewing legacy drill results showing its Crucero project in Peru hosts significant amounts of the critical metal. The latest validation work highlights two long, higher-grade runs from legacy core, with hole DDH-43 cutting 93 metres grading 1.08 gram gold per tonne and 0.69% antimony from 71 metres depth, GoldMining said Wednesday. Hole DDH-37 returned 60 metres at 0.92 gram gold and 0.97% antimony, , from 244 metres depth. Crucero is in southeastern Peru’s Department of Puno. “We are very encouraged by the latest results that demonstrate the emerging opportunity to unlock additional value,” CEO Alastair Still said in a release. Antimony, included on the USGS’ list of critical metals, is used across many industries, including for making batteries, solar panels, flame retardants and ammunition. Over the past 12 months, antimony contracts in Shanghai had roughly tripled, rising from about $11,600 per tonne (C$16,000 per tonne) a year ago to around $55,000 per tonne today, near record highs. GoldMining’s Toronto-listed shares traded flat at C$1.10 on Tuesday afternoon and are down about 6% over the past 12 months. The company’s market capitalization is about C$219 million ($158m). A location map of the Crucero project, Peru. Credit: GoldMining Inc. Rising importance Prospectors first kicked rocks at Crucero in 1996 and soon identified antimony – mainly as stibnite – but didn’t pursue it while prices were low, Still said. With prices now near record highs and the metal increasingly seen as strategic, adding antimony to the gold models could improve the project’s economics, the executive said. However, the company didn’t specify when it would include the antimony results in a future resource estimate. Crucero holds a 2017 indicated resource of 30.6 million tonnes grading 1 gram gold for 993,000 oz. of metal. Another 35.8 million tonnes are inferred at 1 gram gold for 1.2 million contained ounces. Big hits, new math GoldMining’s gold-equivalent yardstick for this work uses $2,200 per oz. gold and $35,600 per tonne antimony – about 35% below the spot level the company cites – along with 100% assumed gold recovery and 70% for antimony. The antimony drift seems connected to later brittle deformation. This process remobilized gold with arsenopyrite and stibnite in the A1 zone. This zone is the main target, covering about 750 metres of strike and reaching a vertical depth of 400 metres, as noted in company documents. GoldMining says its Crucero database now includes 79 drillholes and 657 trench assays with more than 17,000 assay records, of which 13,296 have original lab certificates located. The team is working with labs to find the other archived certificates. Any expected project lift from antimony would depend on future work, including metallurgical performance and how antimony is incorporated in a new model. Crucero’s expected dual gold-antimony narrative dovetails with GoldMining’s broader push to surface value from copper within its Americas portfolio.

Shares of Excellon Resources (TSXV: EXN) rose on Wednesday after closing an offtake and financing agreement with Glencore to support the restart of its Mallay silver mine in Peru. The parties first entered into the agreement in late May, under which Glencore would provide up to $7.5 million in pre-export loan secured by concentrate production from the Mallay mine. The loan comprises an initial drawdown of up to $5 million, followed by a six-month grace period, and an optional second amount of $2.5 million available until March 2026. The Anglo-Swiss trading giant also committed to buy all of the mine’s zinc-lead production until 2028-2029. Shares of Excellon traded 5.5% higher at C$0.24 apiece on the announcement. This gives the Toronto-based silver miner a market capitalization of C$59.2 million. “The closing of our agreement with Glencore marks a major milestone in our journey to return Excellon to silver production,” stated Shawn Howarth, Excellon’s CEO. “With additional and flexible funding now secured, we continue to execute on our restart plan at Mallay — a project with exceptional infrastructure and near-term cash flow potential.” Past producer Mallay is the site of a former mine that was operated by Compañía de Minas Buenaventura between 2012 and 2018. During that period, it produced 6 million oz. silver, 45 million lb. zinc and 35 million lb. lead. The site, about 220 km north of the capital Lima, includes a 600-tonnes-per-day flotation plant, underground development, tailings facilities and grid power access. Excellon, which acquired the project in June, has sights on restarting the operation through rehabilitating the underground workings, conducting technical studies and completing near-mine drilling. Analysts at Red Cloud Securities have modeled a seven-year life for Mallay, producing 6.9 million silver oz. and 69,000 tonnes of base metals at an average all-in sustaining cost of $20.81 per oz. silver-equivalent. This is based on a JORC-compliant reserve estimate of 133 million tonnes grading 203 grams silver per tonne, 3.68% lead and 6.75% zinc. The company plans to release an NI 43-101-compliant resource update for Mallay some time this year.

Blue Moon Metals (TSXV: MOON), a Vancouver-based junior advancing the Nussir copper project in Norway, has secured at least $140 million in financing from Hartree Partners and Oaktree Capital to fund early works. The capital package comprises a $25 million bridge loan already in place, followed by a $50 million senior secured term loan, a $70 million precious metals stream, and up to $20 million in equity for further development and execution, Blue Moon said on Wednesday. The financing to cover engineering, long-lead equipment, underground development and working capital is spearheaded by Hartree, a global energy and commodities trading house, and Oaktree, a Los Angeles-based asset manager with $205 billion under management and a stake in Hartree. Nussir, which has been designated an EU strategic critical raw material project, is a rare new low-cost copper project under pre-construction targeting a September 2027 startup. “This partnership reflects the strength of our project, the ongoing support of our strategic partners, and the confidence in our team’s ability to deliver across the asset base,” CEO Christian Kargl-Simard said in a release. “We expect to announce at least one additional strategic financing package over the next two months covering investment over Blue Moon’s portfolio of assets.” Shares in Blue Moon Metals fell 4.2% to C$3.42 apiece in Toronto by Wednesday afternoon, as wider markets declined, for a company market value of C$180 million. Finnmark region Blue Moon is advancing an underground decline and early access blasting at Nussir in the rugged Finnmark region 1,370 km north of Oslo by air. Basic plant engineering is expected to be completed this year at the site. Detailed engineering is to follow in 2026. Nussir’s underground operation would cost about $330 million to build, according to a 2023 JORC (Australian rules) feasibility study. It shows a post-tax net present value of about $665 million at an 8% discount rate and outlines a 25-year mine life. Average annual production is expected to reach about 25,000 tonnes of copper concentrate with additional silver and gold by-products. The project would have C1 cash costs of about $1.38 per lb. of copper over the life of mine, placing it in the lower quartile of the industry cost curve, according to the JORC report. The all-in sustaining cost was estimated at about $1.60 per pound. The low costs reflect the project’s high copper grade, straightforward metallurgy and access to existing infrastructure in northern Norway. Nussir features a stratabound copper-silver-gold system along a nearly 9-km mineralized strike. The 2023 design calls for an initial 1.5-million-tonne-per-year throughput, expanding later to about 3 million tonnes per year. Metallurgical recoveries are expected to be in the 90% range for copper. Resource The Nussir deposit holds 28.7 million measured and indicated tonnes grading 1.02% copper, 12.3 grams silver per tonne and 0.12 gram gold for 292,000 tonnes copper, 11.4 million oz. silver and 108,000 oz. gold, according to an NI 43-101 (Canadian rules) report issued in January. Inferred resources add 32 million tonnes grading 1.01% copper, 14.6 grams silver and 0.14 gram gold for 324,000 tonnes copper, 15 million oz. silver and 143,000 oz. gold. Three km away, the Ulveryggen deposit hosts 4.05 million indicated tonnes grading 0.65% copper for 26,300 tonnes copper, and 3.7 million inferred tonnes at 0.68% copper for 25,000 tonnes of red metal, according to the same report. Norwegian company Alta Kobberverk mined around 500,000 to 600,000 tonnes grading about 1% copper from Ulveryggen, then known as Repparfjord, from 1972 to 1979 when it went out of business, according to the Geological Survey of Norway. Ore was shipped south to Sulitjelma for processing. Brownfield sites Blue Moon is also advancing two other polymetallic projects: the NSG copper-zinc-gold-silver deposit in Norway and the Blue Moon zinc-gold-silver-copper project in California. All three are being developed on brownfield sites with existing infrastructure. Kargl-Simard joined the company last November after leading Adventus Mining (now part of Silvercorp Metals (TSX, NYSE: SVM) in Ecuador. He said Nussir is unusual in being shovel-ready after 20 years of engineering, permitting and drilling work. “While many companies talk about building copper mines, very few are doing it – we’re one of them,” the CEO told The Northern Miner in July. “There are only a handful of new copper mines under construction globally right now, and Nussir positions us strongly in that rare category.”

Solana (SOL) has once again stepped into the spotlight as analysts weigh in on its potential price trajectory. Despite recent volatility and declines, a new technical analysis suggests that the altcoin could be gearing up for a major move that could see its price skyrocket to around $268. Ascending Triangle Reveals Solana Next Targets For months, the price of Solana has been trading sideways despite hitting an all-time high of $293 in January 2025. Due to the prolonged volatility and price fluctuations, many had presumed the popular altcoin dead. But the charts suggest otherwise. Jonathan Carter, a crypto market technician on X social media, has highlighted a compelling structure on the Solana daily chart, pointing out that the altcoin’s price is currently retesting the upper boundary of a long-formed Ascending Triangle. According to Carter, this retest comes after a previous false breakout, which initially trapped bulls and sent Solana back into consolidation. This time, however, the setup appears more promising, with SOL finding consistent support along its ascending trendline while gradually settling against resistance. Carter noted that Solana’s daily structure shows clear resistance zones around the $180 – $185 levels, which have capped price advances several times throughout the year. A confirmed bounce from the region could open the door for SOL to reclaim higher targets at $205 and $225, with an eventual breakout setting up a run toward $268. With the altcoin currently sitting at $181, a surge to these upper targets would represent a solid increase of 13.26%, 24.31%, and 48.07%, respectively. Based on the analyst’s chart, the presence of the 100-day Moving Average (MA) just below current levels provides additional confirmation for a potential bullish reversal. At the same time, volume patterns suggest growing interest in accumulation. For now, Carter highlights that Solana’s price remains range–bound between $165 and $190. However, the tightening structure of the Ascending Triangle signals that a breakout may be near. If buyers manage to defend the current zone, Solana’s recovery could become potentially stronger, particularly considering its history of sharp rallies once market conditions improve and resistance levels are cleared. Short-Term Pullback Before Rally? In other news, crypto analyst Ali Martinez has also shared insights on Solana’s price action, predicting that the altcoin may experience a temporary pullback before staging its next rally. His 8-hour chart, posted on X, suggests that SOL, currently trading above $181, could face downside pressure that brings the price closer to $160. This projected correction would not necessarily invalidate Solana’s bullish thesis; instead, Martinez asserts that it could present an opportunity for strategic buyers to accumulate before the next upward leg. The analyst identifies the $160 region as a key support area where buyers will likely prevent further price declines. In this context, Solana’s projected weakness could act as a springboard for a stronger rebound.

Most Read: WTI Oil Eyes a Bullish Bounce but Bearish Pressure Remains in Play Bitcoin (BTC/USD) found support today and bounced off a key area of support. The bounce comes as US Bitcoin and Ethereum ETFs face $1 billion in outflow. The fundamentals at this stage seem to hint at further downside, will Bitcoin be able to defy the odds and continue its move higher? Bitcoin ETF Flows Even though investors recently pulled close to $1 billion out of the main Bitcoin and Ethereum investment funds as prices dropped, the total amount of money in all crypto funds is higher than ever. This shows that people are still hopeful about crypto, especially with new investment options coming soon. Source: Farside Investors According to Glassnode On-Chain data, Bitcoin's price went up to over $124,000, but it has since dropped by almost 10%. This is because not enough new money is being invested. Investors seem to think the price is too high and are less willing to buy now compared to previous times when the price hit a new record. When we compare the current rate of capital inflows to the previous ATH breakouts, the realized cap has increased by a substantially smaller percentage than it did during the March and December ATHs in 2024. The initial $100k breakout in late-2024 saw the realized cap rate of increase hitting +13% per month, whilst the current environment peaked at a far more modest +6%/month. This is a clear sign that investor appetite is clearly lighter at this stage. Short-Term Holder Realized Price (STH RP) Looking at another angle, Bitcoin came close to the 108600 level which is the short-term holder realized price (STH RP). *The STH RP, which reflects the average acquisition price of coins moved within the past 155 days, is a key metric for gauging near-term investor positioning. Even though Bitcoin's price is dropping right now, there are good signs underneath. There's a key price level, based on the average price paid by recent buyers, that usually acts as a "floor" during a strong market. Bitcoin has stayed above this floor all year. The most recent test in April marked the cycle low at $76,000, a move that coincided with market stress following the announcement of President Trump's new tariffs. The fact that the average price people are paying for Bitcoin keeps rising shows that new investors are still confidently buying. This new money helps absorb the selling and keeps the long-term outlook positive. Technical Analysis - BTC/USD From a technical standpoint, there are conflicting views for Bitcoin as well. Looking at the daily chart and Bitcoin has broken the long-term ascending trendline that has been in play since the April lows around 75000. This trendline has held firm since then, and the break could lead to a bigger retracement with potential targets at 98200 and of course the 75000 handle. Bitcoin (BTC/USD) Daily Chart, August 20, 2025 Source: TradingView.com (click to enlarge) Dropping down to a four-hour chart and there is descending trendline in play. Earlier in the day Bitcoin tested the trendline but has since retreated looking like it may test the daily low at 112353. A break below this level could open up a retest of short-term holder realized price (STH RP) at 108600. If this level holds, we could be in for a new bullish run but if this level gives way we could be in for a longer term retracement. Bitcoin (BTC/USD) Four-Hour Chart, August 20, 2025 Source: TradingView.com (click to enlarge) Client Sentiment Data - BTC/USD Looking at OANDA client sentiment data, the majority of traders are long on Bitcoin with 98% of traders net-long. I prefer to take a contrarian view toward crowd sentiment, thus the fact that 98% of traders are net-long suggests a deeper pullback may be in play in the near-term. Follow Zain on Twitter/X for Additional Market News and Insights @zvawda 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.