Redator

A fresh wave of buying pushed Cardano up the ranks this week, moving ADA into the eighth spot among major cryptocurrencies and nudging Dogecoin and TRON down. Reports show Cardano’s market cap climbed to $33 billion, edging out TRON at close to $33 billion and Dogecoin at $32 billion. ADA was trading at $0.9225, rising 0.35% on the day and posting a 16% gain over the last week when this report was made. Cardano Climbs Past Dogecoin And TRON The shift came amid a broader bout of volatility across the crypto market. Based on reports, global market cap briefly peaked at $4.17 trillion on August 14, when Bitcoin surged to an intraday high of $124,388. That strength did not last long; the market corrected and by press time total capitalization sat around $3.88 trillion while Bitcoin traded near $115,259, down 5.5% from the top. Those swings helped rearrange the top 10 as investors chased short-term moves. Community Reaction And Price Moves Cardano touched the $1 mark again on August 14 and the social channels lit up. Founder Charles Hoskinson posted a lighthearted GIF to mark the moment, and traders flagged the recovery as a sign that buyers were back in force for at least part of the rally. The renewed attention came after long stretches where development milestones didn’t always translate to price action, and the August jump showed how quickly sentiment can change. Analysts Point To Higher Targets Several analysts shared bullish forecasts as ADA rose. Javon Marks said ADA had not yet hit its “minimum target,” setting a near-term goal of $1.20 and a longer-term level of $2.91 — a move that would equal roughly a 210% rise from the price quoted above. Other market voices noted a golden cross on ADA’s daily chart and argued that technicals support further gains. Some analysts even floated the idea that ADA could move toward $3 if momentum remains. Short-Term Forecasts And Technicals According to current Cardano price predictions cited in reports, ADA could increase by 27% and reach $1.195464 by September 18, 2025. Market sentiment is listed as Bullish and the Fear & Greed Index read 56 (Greed). Over the past 30 days Cardano recorded 17/30 green days (57%) and showed 8.57% volatility. Those figures suggest steady positive sessions mixed with meaningful swings — a pattern that can reward active traders but also brings risk. Featured image from Unsplash, chart from TradingView

Asia Market Wrap - Tech Stocks Drag Indexes Lower Most Read: Gold (XAU/USD) Hovers at $3350/oz, Russia-Ukraine Developments in Focus Global stocks took a break after a record run, as a big drop in major tech companies pulled markets down. Futures suggest more losses ahead. The MSCI Asia-Pacific index (excluding Japan) fell over 1%, Japan's Nikkei dropped 1.7%, and Hong Kong's Hang Seng Tech Index lost 1.3%. Big names like Taiwan Semiconductor Manufacturing and SoftBank were among the biggest losers. Market participants pulled back from tech stocks, which have been leading the market, worried that the rally since April has gone too far, too fast. RBNZ Deliver Dovish Rate Cut The New Zealand dollar dropped to a four-month low on Wednesday after the central bank cut interest rates as expected but hinted at more cuts if needed. This surprised markets and caused bonds to rally. The Reserve Bank of New Zealand lowered the official cash rate by 0.25% to 3.0%, the lowest in three years, with a total of 2.5% cut over seven moves. Policymakers also reduced their forecast for the cash rate's lowest point to 2.55% (down from 2.85% in May). Notably, two of the six committee members wanted a bigger cut of 0.5%. I did discuss the potential for a dovish rate cut and its effect on NZD/USD yesterday. For more on this please read RBNZ Meeting Preview: 25 bps Cut Expected. Will it be the Last Cut of 2025? UK CPI Hot - Hits 18-Month High The UK’s annual inflation rate rose to 3.8% in July 2025, the highest since January 2024, up from 3.6% in June and slightly above the expected 3.7%. Core inflation also edged up slightly to 3.8%. The biggest increase came from transport costs, with airfares surging 30.2% due to school summer holidays. Motor fuel, sea fares, and roadside services also added to the rise. Inflation in restaurants and hotels went up, mainly due to higher hotel stay costs, and food prices also increased. The British pound rose slightly after the data release, as investors now expect a longer wait for the next Bank of England (BoE) rate cut. A 0.25% rate cut isn’t expected until March 2026. Earlier this month, a rate cut was seen as likely before the end of 2025. The BoE predicts UK inflation will reach 4% in September, double its target, and remain above 2% until mid-2027. Source: LSEG European Open - European Shares Slip European stocks fell on Wednesday, pulling back from a five-month high reached the day before. Tech stocks followed the weak performance of U.S. tech shares, and the defense sector faced pressure for a second day. The STOXX 600 index dropped 0.4% by early morning, with most major markets in negative territory. The UK’s FTSE 100 fell 0.2%, while defense stocks slid 1.5% after their worst day in over a month. This drop came as hopes for a Ukraine-Russia peace summit reduced demand for military-related stocks. Tech stocks fell nearly 1%, following U.S. tech losses driven by worries about an AI stock bubble and uncertainty over interest rates. Meanwhile, Alcon shares plunged 9.8% after the eye-care company lowered its 2025 sales forecast due to expected U.S. tariffs. On the FX front, The dollar index, which tracks the U.S. dollar against six other currencies, stayed flat at 98.319 after hitting a one-week high of 98.441 earlier. The New Zealand dollar dropped 1.3% to $0.5815, its lowest since April 11, after policymakers lowered their expected cash rate floor to 2.55% from 2.85% in May. The euro slipped 0.1% to $1.1636. The U.S. dollar rose 0.1% to 0.8078 Swiss francs but fell slightly by 0.1% to 147.61 yen. Currency Power Balance Source: OANDA Labs Gold edged up slightly on Wednesday but stayed close to a three-week low. Investors are waiting for the Federal Reserve's July meeting minutes and the Jackson Hole symposium this week for hints about future rate cuts. Spot gold rose 0.2% to $3,321.33 per ounce by 08:32 GMT, after hitting its lowest level since August 1. U.S. gold futures for December delivery also increased 0.2% to $3,364.20. Oil prices rose on Wednesday after the American Petroleum Institute reported a drop in U.S. crude inventories. Investors are also watching for updates on talks to end the Ukraine war, with sanctions on Russian oil still in place. On Tuesday, oil prices fell over 1% as hopes grew for a peace deal. However, U.S. President Donald Trump admitted that Russian President Vladimir Putin might not be ready to make an agreement. By 08:12 GMT, Brent crude rose 55 cents (0.8%) to $66.34 a barrel. U.S. West Texas Intermediate (WTI) crude for September delivery, which expires Wednesday, went up 65 cents (1%) to $63. Economic Data Releases and Final Thoughts Looking at the economic calendar, a quiet day for Europe and the US. The major event of the day comes from the US with the FOMC minutes release which could stoke some volatility. Beyond that markets will continue to monitor developments on the Russia-Ukraine front which could impact overall sentiment as well. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - NZD/USD From a technical standpoint, NZD/USD on the daily timeframe is eyeing a break of the falling wedge pattern. A falling wedge pattern usually precedes a bullish breakout, however, given the developments from today's RBNZ meeting a bearish breakout is looking more likely. A daily candle close below the lower band of the wedge pattern is needed to confirm the breakout. Such a candle close could open up a potential 220-pip drop toward the 0.5620 mark. NZD/USD Daily Chart, August 20, 2025 Source: TradingView.com (click to enlarge) 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.

In a market update on August 19 titled “Key Altcoins To Watch Right Now,” crypto analyst Cryptoinsightuk argues that conditions are improving for a fresh leg higher in altcoins as Bitcoin dominance shows signs of easing. “The last few days and in the newsletter I’ve discussed my long-term thesis around Bitcoin dominance dropping [and] that altcoins are going to take the next leg up,” he said, adding that, at current levels across majors, “risk–reward for long positions is very good here.” He anchors the view in a recurring intraday structure he says is visible across Bitcoin and multiple large caps: a range forms, the lows are swept, the highs are swept, price returns to the range lows, and momentum begins to base. On Bitcoin specifically, he notes that “RSI on [the] 4-hourly looks like it could turn up,” while acknowledging that short-term direction could still be shaped by the US equity open and broader macro headlines. Top Altcoins To Watch In Crypto Right Now Avalanche (AVAX) tops his tactical list. He outlined a limit-bid plan at $22.75, citing a local liquidity pocket down to roughly $22.70, while emphasizing that the more material liquidity sits overhead: “There’s more dense liquidity above us all the way up to $27… on the daily… up to about $28.4, even towards $30 for AVAX.” He framed the trade as asymmetrical because “if we don’t get [the fill] then that’s fine,” whereas a push into the upper liquidity bands could accelerate. Dogecoin (DOGE) is his highest-conviction swing. He disclosed two concurrent longs—one in a DOGE perpetual and one versus USDT—with an average entry around $0.225–$0.227 and modest leverage on the larger position. The technical map, he argued, has already progressed through the stop-sweep and retest phase: “We had this range… we swept the lows and… back-tested this… little cluster here, bounced off it as support so far.” In the near term, the crypto analyst is watching the reclaimed range floor as resistance that must flip; beyond that, he sees “much more dense” resting liquidity above current price “all the way up to about 30 cent,” with a broader discussion zone in the mid-$0.40s: “We’ve got red liquidity all the way up to 47 cent, and when we’re up to that level, I’ll start to consider maybe deleveraging.” His longer-term target framework references Fibonacci extensions: “My take profits [are] at the 1.618 fib… all the way at like $1.19,” while stressing he would adjust sizing “depending on what the market looks like at some of these different levels.” Cryptoinsightuk also flagged what he called a sentiment-sensitive Fartcoin long carried with higher leverage. The stake is intentionally small given volatility—“we’re 10x on Fartcoin, so we could get liquidated if we come down to like 86 cent… 81 cent I think is a liquidation”—and intended only for a move back to range highs. On XRP, the crypto analyst describes a similar range-construction to DOGE and AVAX with an initial target at the top of the band. “Primary target would be like this top of the range… structure is similar,” he said, noting that his focus there remains on reactions as prior highs and visible liquidity are approached. Cardano also made the list with visible liquidity around prior swing highs “up here at this $1–$1.10,” implying a first checkpoint near the $1.10 area, with continuation risk skewed to the upside “once you get to that swing high.” He devoted more structural nuance to Flare (FLR), calling out a potentially completed or developing corrective sequence that could seed a stronger impulse. “This could be the start of an impulsive move. This could be one, two, three, four, five. This could be like an ABC correction or W-X-Y-Z… triangle… in wave twos… which could then obviously lead to a wave three which would be quite aggressive,” he said, framing FLR as an “interesting structure” rather than a call for immediate participation. Ethereum, he argued, is trying to repair short-term trend signals even as a nearby liquidity pocket lurks below. “ETH is trying to break this short-term downtrend… challenging this key cluster… You can see… bullish divergences on the hourly time frame,” he said, citing a sequence of lower lows in price against higher lows on RSI. That constructive micro-setup underpins his broader positioning stance: if Bitcoin rotates to the top of its range and retests all-time highs, “you’re probably going to see the most aggressive part of the cycle move when you enter price discovery.” He rounded out the watchlist with Mantle (MNT), noting he holds a spot allocation and would consider taking profits near $2 if a clean range break materializes. “MNT is at the top of a range… if we do get that range break, it could be quite an aggressive move to the upside. I will be taking profits maybe around the $2 mark,” he said. At press time, ETH traded at $4,175.

After hitting a new all-time high above $24,000, Bitcoin has been unable to hold up the momentum and has spiraled back down again. In light of this, crypto analyst Doctor Profit has predicted that the Bitcoin price is actually going to fall below $100,000. If this prediction is accurate, then it means that this is only the beginning of the BTC decline, with more crashes expected to happen in the near future. September Will Be Bearish For Bitcoin In an X (formerly Twitter) post, the crypto analyst points out that the Bitcoin price crash is far from done. This is especially as the month of August is racing toward an end after the start of the month had been more bullish than not. With the new month already swimming into view, the analyst expects Bitcoin to break below a major psychological level. Doctor Profit explains that the Bitcoin price correction is expected to continue and will bleed into the month of September. What’s more important is the prediction that Bitcoin will eventually crash below $100,000 in September, suggesting that the month will be dominated by bears. If this happens, it would be the first time since June that the price has crashed below $100,000. So far, the cryptocurrency has spent two consecutive months above the $100,000 level, suggesting that this has become a major support level for the price. Despite this prediction, the crypto analyst does not believe that the bull market is over. If anything, the crash below $100,000 is expected to only be a temporary correction before the move continues. After the crash, Doctor Profit says the bull market will then continue again. Historical Data Supports Bearish Month Doctor Profit’s prediction that the month of September will be bearish for Bitcoin and see the price crash below $100,000 is supported by historical data showing that the digital asset has usually performed poorly for the month. Using data from the CryptoRank website, we can see that 9 out of the last 14 years have seen the Bitcoin price close out the month of September in the red. The month is, on average, the worst in terms of average returns for BTC investors. It shows an average return of -5.58% over the last 14 years, and a median return of -4.43%. This means that the month of September is established as a bearish month for Bitcoin, and if this trend holds, then it is likely that the price will crash again.

An analyst has pointed out how Dogecoin is consolidating within a triangle pattern that could set up a 40% move for the memecoin’s price. Dogecoin Is Trading Inside A Symmetrical Triangle Pattern In a new post on X, analyst Ali Martinez has talked about what the triangle that Dogecoin’s 12-hour price is trading inside right now could foreshadow for it. A triangle is a consolidation channel in technical analysis (TA) that forms whenever the price of an asset trades between two converging trendlines. The upper line of the pattern is likely to be a source of resistance, while the lower one that of support. If the price manages to break past either of these boundaries, it may see a sustained trend in the direction of the break. Triangles can be of a few different types, but the one that’s of interest here is the Symmetrical Triangle. This variant appears when the trendlines involved are approaching each other at a roughly equal and opposite angle. In other words, the Symmetrical Triangle corresponds to a period of consolidation in a range that tightens with time in an exactly sideways manner. Now, here is the chart shared by Martinez that shows the pattern that the 12-hour price of Dogecoin has been stuck inside for the past month or so: As displayed in the above graph, Dogecoin found rejection at the upper level of the Symmetrical Triangle a few days back and has since declined toward its midway point. Generally, triangle breakouts become more likely to happen the closer the price gets to the apex of the pattern. From the chart, it’s visible that DOGE’s 12-hour price is already a decent way into the triangle, meaning that a breakout may be turning increasingly probable. Based on the pattern, the analyst believes the coin is preparing for a 40% move. But which direction will this move occur in? Well, in a Symmetrical Triangle, a breakout is usually equally likely to occur in either direction, since the pattern involves no bias. On top of that, the memecoin is currently also an equal distance away from either trendline, so it’s hard to say which one it will retest next. As such, it only remains to be seen which way Dogecoin will escape the Symmetrical Triangle from and whether any large move will follow. In another X post, Martinez has also discussed about a triangle pattern forming in another altcoin, Worldcoin (WLD). As is apparent from the above chart, Worldcoin has just slipped under the lower level of this triangle. “Worldcoin $WLD breakout from triangle formation points toward $0.50!” notes the analyst. DOGE Price At the time of writing, Dogecoin is trading around $0.21, down more than 3% over the past week.

While Bitcoin (BTC) and Ethereum (ETH) stumbled in the latest market downturn, Cardano (ADA) has emerged as a standout performer. Over the past week, ADA has surged 20%, maintaining strong momentum even as broader market sentiment turned cautious. According to CoinGecko data, ADA is up nearly 175% year-on-year, trading near $0.92 after consistently holding green candles across daily, weekly, and monthly charts. Bitcoin briefly slipped below $115,000, while Ethereum retraced to $4,200 after touching a multi-year high. Yet Cardano has shown resilience, buoyed by technical and macroeconomic factors that are drawing fresh investor attention. What’s Fueling ADA’s Breakout? One key driver of ADA’s rally is the formation of a golden cross, a bullish chart pattern historically linked to major price upswings. Crypto analyst Lark Davis highlighted that the last golden cross on Cardano preceded a 236% rally, fueling optimism that a similar move could be underway. Speculation about a potential Federal Reserve interest rate cut in September has also added momentum. Analysts at Goldman Sachs, Wells Fargo, and Citigroup project a cumulative 75-basis-point reduction by year-end, a scenario that typically encourages risk-on investments like cryptocurrencies. Adding to bullish sentiment, ADA’s price structure is tightening within a triangle pattern, with $0.98 marked as the key breakout level. A push above this threshold could unleash fresh buying pressure, while support at $0.89 remains crucial to sustaining the trend. Can Cardano (ADA) Really Hit $10? While ADA’s near-term breakout potential looks promising, analysts caution that the ambitious $10 price target remains a long shot in this cycle. Crypto trader Crypto Patel notes that Cardano must first reclaim $1.10, then decisively break the heavy resistance at $2.90, a level that capped gains in the previous bull cycle. If ADA successfully clears those hurdles, the path toward $4–$5 becomes realistic, setting the stage for higher targets in the future. However, reaching $10 would require a 10x surge from current levels, pushing Cardano’s market cap above $300 billion, a feat dependent on widespread adoption, institutional inflows, and ecosystem growth. For now, ADA’s resilience in the face of a market dip underscores its strength. Even if $10 remains aspirational, analysts agree that a climb toward $2.50–$3.00 in 2025 would already mark a significant achievement for Cardano investors. Cover image from ChatGPT, ADAUSD chart from Tradingview

New Zealand’s central bank (RBNZ) cut its Official Cash Rate (OCR) as expected by 25 basis points (bps) to a three-year low of 3% today. The major surprise was the RBNZ’s monetary policy guidance that skewed towards a more dovish stance than expected. Its latest forward guidance shows that the average OCR is projected to fall to 2.71% by the end of 2025, lower than the earlier projection of 2.92% made in May. Two more potential interest rate cuts by the RBNZ Also, it forecasts the OCR to drop further to a low of 2.55% in early 2026, versus 2.85% projected in May. Hence, based on this set of latest dovish projections, the RBNZ has indicated that it is likely not done with its interest rate cycle, with at least one more interest rate cut before 2025 ends, and a high chance of a second. In today’s meeting, two RBNZ officials stood in the minority, advocating for a larger 50 bps rate cut, further reinforcing an indirect dovish monetary policy guidance. Based on a 5-day rolling performance basis as at this time of writing, the Kiwi is the outlier and weakest currency against the US dollar (see Fig. 1). The NZD/USD rallied by 2.5%; in contrast, the USD/JPY traded almost flat (0.2%). Therefore, the NZD/JPY cross opens an opportunity to construct a medium-term (1-3 weeks) trading set-up based on technical analysis. Fig. 1: 5-day rolling performance of major currencies against the US dollar of 20 Aug 2025 (Source: TradingView) Fig. 2: NZD/JPY medium-term trend as of 20 Aug 2025 (Source: TradingView) Preferred trend bias (1-3 weeks) Bearish bias below 86.95 key medium-term resistance for the NZD/JPY, and a break below 85.90 opens up scope for a further potential bearish impulsive down move sequence to expose the medium-term supports of 85.00 and 84.40/84.00 (also a Fibonacci extension cluster) (see Fig. 2). Key elements The price actions of NZD/JPY have traded below moving averages (20-day, 50-day, and now 200-day), further cementing a medium-term downtrend phase that is in progress since the 28 July 2025 swing high area of 89.00.The 4-hour MACD trend indicator of the NZD/JPY has continued to trend downwards below its centreline, which reinforces a medium-term downtrend phase.Today’s ultra-dovish monetary policy guidance from the RBNZ has triggered a significant sell-off of 17 bps on the 2-year New Zealand government bond yield (sensitive to monetary policy) to plunge to a three-year low of 3.08%.The 2-year yield premium spread between New Zealand and Japanese government bonds has continued to shrink from 2.48% printed on 4 August to 2.24% at this time of writing, which in turn puts further downside pressure on the NZD/JPY cross rate.Alternative trend bias (1 to 3 weeks) A clearance above 86.95 negates the bearish tone for a squeeze up to retest the next medium-term resistance at 87.80 (also the 20-day and 50-day moving averages). 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.

Cardano price started a downside correction from the $1.020 zone. ADA is now showing some bearish signs and might decline toward $0.80. ADA price started a downside correction below the $0.920 support zone. The price is trading below $0.90 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.940 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could extend losses if it trades below the $0.80 region. Cardano Price Trims Gains After a steady increase, Cardano faced sellers above the $1.00 level started a fresh decline, like Bitcoin and Ethereum. ADA traded below the $0.950 and $0.920 support levels. There was a move below the $0.90 support. The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.7650 swing low to the $1.020 high. There is also a key bearish trend line forming with resistance at $0.940 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.90 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.880 zone. The first resistance is near $0.8920. The next key resistance might be $0.940. If there is a close above the $0.940 resistance and the trend line, the price could start a strong rally. In the stated case, the price could rise toward the $1.00 region. Any more gains might call for a move toward $1.050 in the near term. More Losses In ADA? If Cardano’s price fails to climb above the $0.940 resistance level, it could start another decline. Immediate support on the downside is near the $0.840 level. The next major support is near the $0.8250 level and the 76.4% Fib retracement level of the upward move from the $0.7650 swing low to the $1.020 high. A downside break below the $0.8250 level could open the doors for a test of $0.80. The next major support is near the $0.780 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.8400 and $0.8250. Major Resistance Levels – $0.9200 and $0.9400.

As blockchain technology continues to gain traction among institutional investors, Chainlink (LINK) is positioning itself to capitalize on this momentum, especially in light of pro-crypto regulations that are attracting significant capital inflows. According to market expert Zach Rynes, the decentralized oracle network is better equipped than XRP to harness the forthcoming wave of institutional blockchain adoption and the tokenization of trillions in assets. Chainlink Vs XRP While some argue that Chainlink and the XRP Ledger (XRPL) do not compete directly on a product basis, Rynes suggests that this perspective overlooks the broader implications of their respective roles in the blockchain landscape. The expert highlights that Chainlink offers a platform that encompasses on-chain data delivery, cross-chain interoperability, automated compliance, privacy-preserving computing, and integration with legacy systems. These features are considered essential for the tokenization of real-world assets (RWAs) such as funds, equities, commodities, and currencies across diverse blockchain networks, both public and private. As a result of these advantages, Chainlink is already collaborating with some of the world’s largest financial institutions, including the Central Bank of Brazil, to facilitate the adoption of blockchain technologies and tokenized assets. Investing in XRP, according to the expert, hinges on the belief that institutions will favor the XRPL as their ledger of choice over others, including proprietary private chains. In contrast, a bet on Chainlink reflects confidence that institutions will adopt blockchain technology more broadly, regardless of which specific ledger they choose to implement. Rynes emphasizes that this distinction is crucial, as Chainlink’s services enhance the functionality of any blockchain used by institutions, making it a more complete player in the ecosystem. Why LINK Is Key For Institutional Blockchain Adoption Currently, Chainlink secures over $92 billion in total value locked (TVL) across more than 60 blockchain networks through its oracle network, which supports over 450 applications. In comparison, XRPL has a DeFi TVL of around $100 million. The expert further asserts that the core capabilities that Chainlink provides are more valuable to institutions seeking to navigate the tokenization sector. For instance, data oracles are essential for delivering accurate net asset value (NAV) data for tokenized funds and corporate actions for tokenized equities. Cross-chain oracles also enable the secure transfer of assets across different blockchains, facilitating delivery-versus-payment (DvP) and payment-versus-payment (PvP) workflows. Additionally, Chainlink’s legacy-system oracles allow traditional financial institutions to interact with public and private blockchains using existing infrastructure and messaging standards, such as SWIFT. The expert also notes that a trend of margin compression is emerging for blockchain technology, where the value generated from transaction ordering is increasingly recaptured by applications rather than the networks themselves. Rynes highlights that this shift underscores the importance of infrastructure providers like Chainlink, which can monetize their services through enterprise deals and integration programs. While XRP aims to position itself as a bridge currency, Rynes argues that Chainlink’s ability to facilitate cross-chain transactions involving stablecoins and other assets diminishes the need for such intermediary currencies. As of this writing, LINK is trading at $24, down nearly 5% over the last 24 hours. Over longer periods, however, the cryptocurrency has ranked among the market’s top performers, recording year-to-date gains of 140%. Featured image from DALL-E, chart from TradingView.com

Brazil’s Chamber of Deputies is set to hold its first hearing on August 20 to examine a bill that proposes building a Bitcoin Strategic Reserve. The reserve would be worth up to $18.6 billion and could mark a serious step toward reshaping how Brazil thinks about foreign reserves and economic resilience. Hearing Focuses on Risk Management and Reserve Diversification Bill 4501/2024 proposes allowing up to 5 percent of Brazil’s Treasury reserves to be held in bitcoin, framing it as a hedge against currency volatility and a response to rising geopolitical risks. Lawmakers backing the proposal say it’s not about betting on Bitcoin, but about preparing for a financial world that looks very different from the one Brazil has planned for in the past. Experts from Across the Industry Will Speak This is not just a political formality. Deputy Luiz Philippe de Orleans e Bragança requested the hearing and invited a mix of experts to weigh in. Diego Kolling, who leads Bitcoin strategy at Méliuz, and Julia Rosim from Bitso and ABCripto will join. Officials from Brazil’s Central Bank and Ministry of Finance will also be there, making it clear this is more than a crypto-only conversation; it’s also about fiscal strategy. DISCOVER: 20+ Next Crypto to Explode in 2025 Bitcoin Would Be Held Under Joint Custody If passed, the bill would put custody of the Bitcoin reserve in the hands of both the Central Bank and the Ministry of Finance. The designers structured it to avoid concentrated control and to add a layer of oversight. The law also calls for twice-yearly reports on the performance and risks of the reserve, giving lawmakers and the public a clearer view of how the experiment is going. BitcoinPriceMarket CapBTC$2.25T24h7d30d1yAll time Next Steps Involve Several Layers of Approval Once this hearing wraps up, the bill still has a long road ahead. It needs to clear four key committees: Economic Development, Science and Innovation, Finance and Taxation, and Constitution and Justice. If it makes it through that gauntlet, it heads to a full vote in the House, then the Senate, and finally to the President for final approval. The August 20 hearing is just the first test. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Brazil Has Already Shown It’s Comfortable with Crypto Brazil is not starting from scratch here. It’s already one of the most active crypto markets in Latin America and has been quick to approve crypto ETFs. Trading volumes neared $76 billion last year, and the country ranks high in global adoption reports. Adding Bitcoin to its national reserves would be a big move, but not an out-of-character one. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Brazil is holding its first official hearing on a proposal to add up to $18.6 billion in Bitcoin to national reserves. Bill 4501/2024 aims to allocate up to 5% of Brazil’s Treasury reserves to Bitcoin as a hedge against currency and geopolitical risk. The August 20 hearing will feature voices from both crypto companies and traditional finance, including the Central Bank and Ministry of Finance. The Central Bank and the Ministry of Finance would jointly hold the proposed reserve, and the law would require oversight and public reporting. Brazil’s crypto adoption is already high, making the idea of a Bitcoin Strategic Reserve ambitious but not out of character. The post Brazil to Hold First Hearing on $19 Billion Bitcoin Strategic Reserve appeared first on 99Bitcoins.

Senate Banking Committee Chair Tim Scott says he expects between 12 and 18 Senate Democrats to cross party lines and support a new crypto market structure bill. That’s a surprising figure, especially given the usual partisan gridlock around financial regulation. Individual Outreach to Build Bipartisan Consensus Scott has been speaking directly with Democratic Senators, including some who aren’t on the Banking Committee, to drum up early support. He’s aiming to build momentum before the bill officially lands in the Senate this September. House Momentum and Legislative Foundations This isn’t coming out of nowhere. The House passed the Digital Asset Market Clarity Act back in mid-July, with 78 Democrats voting in favor. The bill spells out which regulator handles what, splitting responsibilities between the SEC and CFTC. It also sets up a way for crypto platforms to register if they meet decentralization standards. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in August2025 The Senate’s Proposed Bill: Responsible Financial Innovation Act The Senate’s version is a more detailed follow-up. Scott released a draft of the Responsible Financial Innovation Act of 2025 on July 22. Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno are co-sponsors. Their version adds definitions for things like ancillary assets, updates disclosure rules, and includes new language that lets financial holding companies offer digital asset services. BitcoinPriceMarket CapBTC$2.25T24h7d30d1yAll time Political Hurdles: Elizabeth Warren’s Opposition Still, there’s a big obstacle in the way. Senator Elizabeth Warren has made it clear she opposes the bill. Scott called her a real force to be reckoned with. Warren’s concerns focus on the idea that the bill could weaken the SEC’s authority and open the door to looser oversight at a time when regulators are already stretched thin. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Vote Math and Legislative Strategy The numbers matter here. With 53 Republicans and 47 Democrats in the Senate, Scott needs at least seven Democrats to join in and hit the 60-vote threshold to move the bill forward. That’s why he’s targeting Senators outside the committee. If they come on board, it gives cover for others who might be on the fence. Timeline for Finalization and Next Steps Scott wants the Senate’s version finalized by the end of September. Once that happens, both chambers will need to hammer out the differences between the Senate draft and the House-passed bill. Only then will it be ready for a final vote. Potential Impact on Crypto Regulation If it passes, the bill would bring long-awaited clarity to how digital assets are regulated in the U.S. It would define roles for the SEC and CFTC, provide legal certainty to exchanges and token issuers, and establish a route for decentralized networks to demonstrate that they don’t fall under securities laws. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Senator Tim Scott expects 12–18 Democrats to support the new crypto bill, potentially breaking the partisan deadlock. Direct outreach is being used to secure support ahead of the Senate’s review of the Responsible Financial Innovation Act. The House already passed a similar bill with bipartisan support, laying the groundwork for the Senate version. Opposition from Senator Elizabeth Warren remains a major hurdle due to her concerns over SEC oversight. If passed, the bill would clarify roles for the SEC and CFTC and set a legal path for decentralized crypto networks. The post Senate Banking Chair Predicts Strong Democratic Support for Crypto Bill appeared first on 99Bitcoins.

XRP price is gaining bearish pace below the $3.050 resistance zone. The price is struggling below $3.00 and remains at risk of more losses. XRP price is declining below the $3.020 and $3.00 levels. The price is now trading below $3.00 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $3.00 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 $3.10 zone. XRP Price Dips In The Red XRP price remained in a bearish zone after a close below the $3.120 level, like Bitcoin and Ethereum. The price extended losses and traded below the $3.00 support zone. The price even declined below $2.920. Finally, it tested the $2.850 support zone. A low was formed at $2.850 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $3.095 swing high to the $2.850 low. The price is now trading below $3.00 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.90 level. The first major resistance is near the $2.920 level. A clear move above the $2.920 resistance might send the price toward the $3.00 resistance. There is also a bearish trend line forming with resistance at $3.00 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward move from the $3.095 swing high to the $2.850 low. Any more gains might send the price toward the $3.050 resistance. The next major hurdle for the bulls might be near $3.120. More Downside? If XRP fails to clear the $2.920 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.850 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 $2.740 support. The next major support sits near the $2.720 zone, below which there could be a larger decline. 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 – $2.850 and $2.740. Major Resistance Levels – $2.920 and $3.00.

Ethereum (ETH) has maintained upward momentum in recent weeks, with the asset briefly touching $4,774 last week, just shy of its 2021 all-time high of over $4,800. Although ETH has since corrected to around $4,306, the asset remains positive in terms of weekly performance, showing a 0.7% increase. This price action shows ongoing investor interest at a time when Ethereum’s relative performance against Bitcoin is attracting attention. Analysts have pointed to Ethereum’s growing strength in both spot and derivatives markets, where ETH is showing resilience against BTC. On CryptoQuant’s QuickTake platform, contributor EgyHash noted that the ETH/BTC trading pair has reached levels not seen since the beginning of the year, with spot trading volumes climbing to record highs. This shift in participation highlights Ethereum’s expanding role within the broader crypto market, particularly as institutional activity continues to increase. ETH/BTC Ratio and Market Participation According to EgyHash, Ethereum has recovered significantly after reaching a six-year low against Bitcoin earlier this year. The ETH/BTC pair now trades at 0.0368, its highest level in 2025, though still well below past cycle peaks. Notably, weekly spot trading volumes for ETH relative to BTC reached an all-time high, with Ethereum trading nearly three times the volume of Bitcoin last week. This signals an adjustment in market preference, as traders and investors increasingly allocate toward ETH. The derivatives market has also reflected this trend. Data shows that ETH/BTC perpetual futures open interest has risen to 0.71, its highest point in 14 months. This rise suggests stronger speculative positioning around Ethereum. EgyHash emphasized that such increases often signal short-term strength but also warned that Ethereum’s long-term standing against Bitcoin will depend on sustained adoption and continued investor conviction. Ethereum Institutional Demand and Policy Context Beyond spot and derivatives activity, institutional demand for Ethereum has been growing steadily. Another CryptoQuant analyst, writing under the pseudonym OnChain, highlighted that investment funds now hold approximately 6.1 million ETH. This represents a 68% increase compared to December 2024 levels and a 75% rise from April 2025. Alongside these holdings, the fund market premium for ETH has expanded significantly, climbing to a two-week average of 6.44%, far higher than during previous cycle peaks. OnChain noted that such institutional accumulation reflects both financial and psychological market effects, with entities like BlackRock’s Ethereum ETF expanding exposure. The analyst also suggested that once staking becomes available within ETH-based ETFs, institutional flows could increase further. This development could coincide with broader US regulatory clarity, as legislation such as the proposed CLARITY Act seeks to formally classify both Bitcoin and Ethereum as digital commodities under federal law. Featured image created with DALL-E, Chart from TradingView

Ethereum price started a downside correction below the $4,350 zone. ETH is still showing some bearish signs and might decline toward the $4,020 support zone. Ethereum started a fresh decline below the $4,350 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 $4,350 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $4,120 zone in the near term. Ethereum Price Dips Further Ethereum price failed to recover and started a fresh decline below the $4,550 zone, like Bitcoin. ETH price gained bearish momentum and traded below the $4,350 support zone. The bears were able to push the price below the $4,250 support zone. Finally, the price tested the $4,065 zone. A low was formed at $4,065 and the price is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $4,580 swing high to the $4,065 low. Ethereum price is now trading below $4,250 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,185 level. The next key resistance is near the $4,320 level. It is close to the 50% Fib retracement level of the recent decline from the $4,580 swing high to the $4,065 low. The first major resistance is near the $4,350 level. There is also a bearish trend line forming with resistance at $4,350 on the hourly chart of ETH/USD. A clear move above the $4,350 resistance might send the price toward the $4,385 resistance. An upside break above the $4,385 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. More Downside In ETH? If Ethereum fails to clear the $4,320 resistance, it could continue to move down. Initial support on the downside is near the $4,065 level. The first major support sits near the $4,020 zone. A clear move below the $4,020 support might push the price toward the $4,000 support. Any more losses might send the price toward the $3,850 support level in the near term. The next key support sits at $3,620. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $4,020 Major Resistance Level – $4,350

Chainlink (LINK) has surged nearly 15% in the past week, breaking through a long-standing resistance zone between $25 and $26. At the time of writing, LINK trades around $24.2, marking its highest level in seven months. The move came with strong trading volume, confirming a bullish breakout above the 200-day moving average. Whale accumulation has played a pivotal role in fueling the rally. On-chain data reveals that large holders scooped up 1.1 million LINK, valued at approximately $27 million, mover the past seven days. The top 100 wallets also increased their holdings by more than 12%, signaling renewed confidence from institutional and high-net-worth investors. LINK Wallet Growth Hits 2025 Highs Beyond whale activity, organic network growth has also surged. Analytics firm Santiment reported that nearly 9,600 new LINK wallets were created in mid-August, while daily transfers from active addresses exceeded 9,800, both setting records for 2025. Wallet creation and transaction spikes are widely viewed as indicators of healthy adoption. For Chainlink, these metrics suggest that both retail and institutional demand are rising in tandem, potentially supporting more sustainable price growth. The renewed activity also coincides with the launch of the Chainlink Reserve, a smart contract treasury absorbing tokens from enterprise integrations, which adds deflationary pressure on circulating supply. RWA Growth and $30 Target Chainlink in Focus Chainlink (LINK)’s expanding footprint in the real-world asset (RWA) sector is further driving optimism. The project recently introduced new ETF and equities data feeds, strengthening its narrative as a bridge between traditional finance and blockchain. Partnerships with giants like Intercontinental Exchange and SWIFT continue to reinforce its institutional relevance. Analysts now see $29–$30 as the next major resistance zone. A retest of $20 remains possible if sentiment weakens, but bullish traders argue the momentum is unlikely to fade quickly. Some forecasts even extend mid-term targets to $33–$38, with long-term projections stretching toward $57 and beyond if adoption accelerates. As Chainlink cements itself as the leading oracle provider and expands its role in tokenized markets, investors are asking the key question: Is $30 just the beginning of LINK’s next major bull run? Cover image from ChatGPT, LINKUSD chart from Tradingview

Bitcoin price is gaining pace below $115,500. BTC is still showing bearish signs and remains at risk of more losses below the $112,000 zone. Bitcoin started a fresh decline below the $116,500 zone. The price is trading below $115,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $115,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $115,500 resistance zone. Bitcoin Price Dips Further Bitcoin price started a fresh decline after a close below the $118,000 level. BTC gained bearish momentum and traded below the $116,500 support zone. There was a move below the $115,500 support zone and the 100 hourly Simple moving average. The pair tested the $112,500 zone. A low was formed at $112,610 and the price is now consolidating below the 23.6% Fib retracement level of the recent decline from the $124,420 swing high to the $112,610 low. Bitcoin is now trading below $116,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $114,200 level. The first key resistance is near the $115,000 level. There is also a key bearish trend line forming with resistance at $115,400 on the hourly chart of the BTC/USD pair. 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 $118,500 resistance level. It is close to the 50% Fib retracement level of the recent decline from the $124,420 swing high to the $112,610 low. Any more gains might send the price toward the $120,000 level. The main target could be $121,500. More Losses In BTC? If Bitcoin fails to rise above the $115,000 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 $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 gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $112,500, followed by $110,500. Major Resistance Levels – $115,000 and $115,500.

Bitcoin (BTC) has once again slipped under the $120,000 price mark, retracing after reaching a new all-time high above $124,000 last week. As of the latest market data, BTC is trading around $115,557, down 2.5% in the past 24 hours and nearly 7% below its peak. This price movement suggests that the asset is currently consolidating after its recent rally, leaving market participants watching closely for the next directional move. Meanwhile, analysts are turning to on-chain data for signals on Bitcoin’s potential trajectory. One such perspective comes from PelinayPA, a contributor to CryptoQuant’s QuickTake platform, who examined long-term holder (LTH) behavior using a set of profit and loss metrics. The findings highlight that while profit-taking has begun, current selling levels remain below historical extremes seen in past bull market peaks. Tracking Long-Term Holder Signals According to PelinayPA, the LTH analysis uses several indicators to measure the relationship between Bitcoin’s price and the cost basis of long-term holders. Profit and loss bands, ranging from 150% to 1,000% above cost basis, help determine when Bitcoin enters zones historically associated with a higher risk of market tops. When BTC approaches the +500% band, it has often coincided with heightened selling activity and eventual cycle peaks. The analysis also incorporates a Spending Binary Indicator, which reflects the intensity of LTH selling, alongside “High Spending” signals that typically emerge near market tops and “Bottom Alerts” that occur during deep corrections. Reviewing past cycles, PelinayPA pointed to 2017 and 2021, where bear market downturns followed heavy long-term holder selling, while the 2022–2023 bottom was marked by multiple loss realization alerts around the $15,000–$20,000 range. Currently, Bitcoin sits within the 150%–350% profit band, leaving potential room for further growth, though the risk of a market top rises as the asset approaches the higher bands. The analyst noted that while green profit-taking bars are visible today, they remain well below the levels observed in earlier cycle peaks. Bitcoin Market Outlook: Short, Mid, and Long Term In outlining the potential scenarios, PelinayPA suggested that Bitcoin may remain range-bound in the short term, as controlled profit-taking by long-term holders limits upside momentum. However, if accumulation and broader demand continue, the price could advance into the $124,000–$178,000 range, corresponding to the higher profit thresholds on the LTH model. For the mid-term outlook, extending into late 2025, the analyst cautioned that if long-term holder selling intensifies like in 2021, Bitcoin could be nearing a cycle top. In such a scenario, the asset might peak above $150,000 before the next major correction. Looking ahead to 2026, the absence of new bottom alerts suggests that the market is still within the later stages of the ongoing bull cycle, rather than transitioning into a confirmed bear market. Featured image created with DALL-E, Chart from TradingView

On-chain data shows the Bitcoin sharks and whales have been accumulating during the latest price decline, a sign that could be bullish for the asset. Bitcoin Sharks & Whales Have Bought Over 20,000 BTC In This Dip In a new post on X, on-chain analytics firm Santiment has shared how some of Bitcoin’s key investors have been reacting to the latest volatility in the cryptocurrency’s price. The holders in question are those carrying a wallet balance in the range of 10 to 10,000 BTC. At the current exchange rate of the asset, the former bound converts to $1.1 million and the latter one to $1.1 billion. Thus, the only addresses that would qualify for the range would be the ones owned by the large investors. Such entities can carry some influence in the market due to the size of their holdings, which can make their behavior worth keeping an eye on. These key holders are generally divided into two cohorts: sharks and whales. The whales are much larger than the other, so they hold the most power on the network. Now, here is the chart shared by Santiment that shows the trend in the combined supply of these Bitcoin groups over the last few months: As displayed in the above graph, the Bitcoin supply held by the sharks and whales saw a decline in July, suggesting some of the key investors sold at price levels near the all-time high (ATH). After bottoming a few days ago when BTC set its new ATH above $124,000, however, the metric has found a reversal, suggesting that the sharks and whales have been buying during the price drawdown that has followed. In total, investors falling inside this range have loaded up on 20,061 BTC (worth $2.3 billion) since August 13th. On a long-term scale, the two cohorts have bought a combined 225,320 BTC ($26.1 billion) since March 22nd. “There has been notable correlation between this group’s holdings and the direction of future price movement for the majority of the past five years,” explains the analytics firm. It now remains to be seen whether the same would hold true this time as well, with the shark and whale accumulation potentially leading to another price surge. In some other news, the number of Bitcoin treasury buyers has been falling since its peak earlier in the year, as Capriole Investments founder Charles Edwards has pointed out in an X post. “The number of Bitcoin treasury company buyers continues to fall, now at 2.8 per day despite price hitting ATHs,” notes Edwards. “Is the tradfi cap-raising world reaching saturation, or is this just a dip?” BTC Price At the time of writing, Bitcoin is floating around $115,500, down 3% over the last seven days.

Ethereum is under pressure as volatility spikes, with the price recently slipping below the $4,300 mark. After weeks of strong momentum and multi-year highs, bulls are now struggling to defend support zones. The loss of this level raises concerns about a potential deeper correction, though fundamentals remain firmly bullish. Institutional adoption continues to provide strong tailwinds, with major firms increasing exposure to Ethereum through ETFs, treasury strategies, and on-chain accumulation. This steady demand reflects growing confidence in ETH’s long-term role within the digital asset ecosystem. At the same time, Open Interest has been rising sharply, highlighting a surge in speculation and leveraged positioning across derivatives markets. While this can amplify moves in both directions, it underscores the intense battle between bulls and bears at current levels. Market participants now see the coming days as critical for Ethereum’s short-term trajectory. Holding above nearby support could pave the way for a rebound and renewed attempts to challenge the $4,500–$4,800 resistance zone. Ethereum Faces Record Short Position Pressure Ethereum is entering one of its most decisive moments yet, with unprecedented short positioning building up in the market. According to top analyst Ted Pillows, we’re witnessing the biggest leveraged short position on ETH ever recorded. Net leveraged shorts have climbed to 18,438 contracts, marking the biggest bearish bet in Ethereum’s history. This surge in positioning reflects a market bracing for volatility, as traders place aggressive downside bets following Ethereum’s retrace from the $4,790 level. However, Pillows emphasizes that this dynamic could create the perfect storm for a short squeeze. If Ethereum manages to rally from current levels, these bearish positions could quickly unwind, forcing shorts to cover at higher prices and accelerating the rally. Historically, such imbalances have led to explosive upside moves in a short timeframe, catching bears off guard and rewarding bulls with rapid gains. While short-term volatility remains elevated, strong fundamentals — including declining exchange supply, institutional accumulation, and broader adoption trends — continue to support the long-term bullish thesis. For now, all eyes remain on whether the record-short positioning turns into the catalyst for Ethereum’s next breakout. ETH Technical Details: Testing Demand Level Ethereum is currently trading at $4,284, showing signs of volatility after its recent decline from the $4,800 region. The 4-hour chart highlights how ETH has struggled to reclaim momentum, with price now testing a key support zone around the $4,200–$4,250 range. This level is crucial because it aligns with the 100-day moving average (green line), which has acted as dynamic support during previous pullbacks in this rally. The price structure shows that bulls remain active but are under pressure. After weeks of consistent gains, Ethereum is now experiencing heavier selling volume, as visible in the recent red bars on the chart. However, the broader trend remains bullish as long as ETH holds above the 200-day moving average (red line), currently sitting below $3,920. A breakdown of $4,200 could expose ETH to further downside toward $4,000 or even $3,900 in the short term. On the other hand, if buyers defend this zone, Ethereum could attempt another rally to retest resistance levels around $4,500–$4,600. Featured image from Dall-E, chart from TradingView

The Reserve Bank of New Zealand (RBNZ) is expected to cut interest rates by 0.25% this week, bringing the rate to 3%. This would mark a total reduction of 2.5% during the current cycle. Markets are also predicting another cut later this year or early next year, possibly lowering the rate to 2.75% or even 2.5%. For all market-moving economic releases and events, see the MarketPulse Economic Calendar The main focus will be on the RBNZ's updated economic and rate forecasts, as well as any new guidance. Back in May, the RBNZ suggested there was about a 60% chance of one more rate cut to 2.75%. We believe the new projections will likely confirm this cut, but since markets already expect 2.75% as the final rate, it won’t seem overly cautious or "dovish." The RBNZ's Tightrope Walk The RBNZ is in a difficult position. On one hand, inflation remains stubbornly high, with the annual rate at 2.7% and expected to approach 3% by the end of the year. This is higher than the RBNZ had previously forecast. On the other hand, the economy is showing clear signs of slowing down. High-frequency economic data has been softer, with manufacturing and services PMIs remaining soft. The labor market is also weakening, with the unemployment rate rising to 5.2%. This mixed bag of data presents a significant challenge for the RBNZ as it tries to balance its mandate of controlling inflation without derailing economic growth. Scenarios for the RBNZ's Decision While a 25-basis-point cut to the Official Cash Rate (OCR) to 3% is the consensus expectation, the accompanying forward guidance will be the main focus. Here are the potential scenarios: The Base Case, A Dovish Hold: The most likely scenario is a 25bp cut with a "data-dependent easing bias". In this case, the RBNZ would signal that further cuts are possible, but contingent on incoming economic data. This would give the central bank flexibility to react to the evolving economic landscape. The Hawkish Cut (10% probability): In this scenario, the RBNZ would deliver the 25bp cut but signal a clear intention to pause its easing cycle. This would be driven by concerns that inflation may not fall as quickly as expected and rising inflation expectations. Such a move would likely be supportive of the New Zealand dollar. The Dovish Cut (10% probability): Alternatively, the RBNZ could cut by 25bp and strongly hint at more to come, with a further cut to 2.75% by November being a distinct possibility. This would signal that the central bank is more concerned about the downside risks to growth and is prepared to act aggressively to support the economy. Forward Outlook and Guidance The RBNZ's forward guidance will be crucial in shaping market expectations. The central bank has been trying to steer the market away from expecting a cut at every meeting, and towards a more data-driven approach. It's likely the RBNZ will emphasize the importance of the upcoming data releases between now and the November meeting in determining the future path of the OCR. Technical Analysis - NZD/USD From a technical standpoint, NZD/USD on the daily timeframe is trading in a falling wedge pattern at the moment which hints at a potential bullish breakout. For now though, the pair continues to grind lower with a catalyst needed for a breakout. That could come either from the Jackson Hole event this weekend or a significant surprise from the RBNZ at today's meeting. Looking at the period-14 RSI and it has struggled to break back above the level, with two previous attempts being met by selling pressure. A sign that bearish momentum remains strong for now. Immediate support rests at 0.5881 before the 0.5821 and 0.5767 handles come into focus. A move higher needs to contend with resistance at 0.5942 before eyes turn to the top end of the wedge pattern which lines up with the psychological 0.6000 mark. NZD/USD Daily Chart, August 20, 2025 Source: TradingView.com (click to enlarge) Client Sentiment Data - NZD/USD Looking at OANDA client sentiment data and market participants are Long on NZD/USD with 75% of traders net-long. I prefer to take a contrarian view toward crowd sentiment and thus the fact that the majority of traders are net-long suggests that NZD/USD could continue to slide 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.

Bitcoin (BTC) fell to $114,386 earlier today, triggering nearly $300 million in liquidations over the past 24 hours as investor confidence in the asset remains shaky. Still, rising spot trading volumes offer a glimmer of hope that BTC may now be entering an accumulation phase. Is Bitcoin In The Accumulation Phase? According to a CryptoQuant Quicktake post by contributor Amr Taha, Binance’s BTC spot trading volume surpassed $6 billion on August 18 – one of the most significant spikes this month. Taha noted that such sudden spikes typically signal increased participation from institutional investors and large traders, along with some retail activity looking to capitalize on heightened volatility. It’s worth noting that the surge in Binance spot volume coincided with BTC’s drop below $115,000 – a movement that can serve as a leading indicator of a potential reversal in price momentum. Historical data suggests that strong spot buying during price dips often reflects traders stepping in to accumulate BTC at discounted prices. This dynamic can ease selling pressure and lay the foundation for a rebound if demand persists. Taha also highlighted that the increase in Binance spot volume occurred alongside a decline in the Binance Whale-to-Exchange Flow, which fell from $6.4 billion to $5 billion – a $1.4 billion drop in whale transfers to Binance over the past week. This reduction in whale deposits suggests fewer large holders are sending BTC to exchanges for potential selling, a trend generally considered bullish. Taha concluded: Bringing these elements together – a surge in Binance spot volume, rising demand during a price dip, and a decline in whale deposits – the market is showing early signs of stabilization. If accumulation continues at current levels, Bitcoin has a solid chance to recover and retest higher resistance levels in the near term. From a technical perspective, crypto analyst Titan of Crypto noted that BTC is still following its weekly trendline. If the trend holds, BTC could target $130,000 in the coming weeks. Warning Signs For September While Taha suggests BTC may currently be in an accumulation phase with the possibility of a trend reversal in the coming months, other analysts remain cautious. Crypto analyst Josh Olszewics warned that BTC must survive a “brutal September” before any meaningful rebound can occur in Q4 2025. Similarly, CryptoQuant contributor BorisVest cautioned that the next 1–2 weeks may bring heightened selling pressure for the top cryptocurrency by market capitalization. At press time, BTC trades at $115,489, down 0.1% over the past 24 hours.

Bitcoin is under pressure after struggling for several days to hold above the $120,000 mark, and now the $115,000 level has become the key battleground. The latest price action shows increased volatility as momentum shifts toward the bears, raising concerns about whether BTC can sustain its consolidation range or risk breaking lower. Despite reaching new all-time highs earlier this month, Bitcoin’s inability to maintain strength above resistance zones has fueled speculation of a possible deeper correction. Traders are closely watching whether this consolidation phase is a healthy reset or the beginning of a sharper downturn. Adding to this uncertainty, CryptoQuant analyst Kerem revealed that for the first time since January, Bitcoin’s short-term holders (STHs) are back to selling at a loss. This marks a critical change in market dynamics, as earlier in the year, STH loss realization coincided with the deepest correction of the cycle. While such loss-selling can often signal weakening momentum, history also shows that it can act as a healthy reset, flushing out weaker hands before a stronger rally. Short-Term Holders Back to Selling at a Loss According to CryptoQuant analyst Kerem, Bitcoin’s short-term holders (STHs) are once again showing signs of weakness in the market. The last time this group moved into sustained loss realization was in January 2025, during a phase that marked the deepest correction of the current cycle. Following that drawdown, the market rebounded strongly, and STHs consistently sold their coins at a profit as BTC climbed into six-figure territory. Now, for the first time since that January reset, STH-SOPR multiples have slipped below 1, confirming that short-term investors are realizing losses. This shift is notable because it often acts as an important turning point in Bitcoin cycles. Historically, such moves have carried two main implications. On the bearish side, extended periods of loss realization frequently precede deeper corrective phases, when speculative holders exit positions under pressure. On the bullish side, brief dips below 1 can act as a healthy reset, flushing out weaker hands and clearing the way for more sustainable rallies. With Bitcoin consolidating under heavy resistance after setting new all-time highs, this development becomes a critical barometer of market health. If the market absorbs this wave of loss-selling quickly, BTC could mirror past resets that paved the way for powerful rebounds. However, if loss realization deepens and persists, it may confirm a shift in momentum — signaling a potential breakdown of the bullish structure and raising the risk of further correction. Testing Key Demand Level Bitcoin continues to trade with elevated volatility, consolidating just above $115,000 after failing to sustain momentum near the $124,000 level. The chart shows that BTC is currently holding near its 50-day moving average (around $115,900), which has now become a critical short-term support zone. A decisive break below this level could open the door for a deeper retrace toward the 100-day MA at $110,957 or even the 200-day MA near $100,410 if selling pressure intensifies. On the upside, the $123,217 level marked on the chart remains a key resistance point. This zone has repeatedly capped Bitcoin’s upward momentum and will likely continue to act as a major hurdle before BTC can attempt another push toward new all-time highs. Momentum indicators highlight weakening bullish strength as BTC fails to reclaim the upper resistance band, signaling a potential shift toward consolidation or correction. However, the broader structure still shows higher lows and strong medium-term support, keeping the longer-term bullish trend intact. Featured image from Dall-E, chart from TradingView

Bitcoin looks set for a pause. Prices climbed to a fresh high, and now the market is showing signs of short-term cooling as some investors lock in profits. Price Pullback And Recent Rally Bitcoin was trading at $115,550 when this report was written, about 6% shy of its all-time high of $124,201 reached on Wednesday. The top crypto asset was up roughly 10% in the nine days leading up to that peak. That quick run-up helped push prices higher, but it also left some traders looking for a breather. Analysts say the recent rally quickly fizzled out without fresh macro drivers to keep it going. MVRV Signals Some Caution According to Santiment, the Market Value to Realized Value (MVRV) ratio sits at +21%. That means the average holder who bought over the past year is in profit, and many could be tempted to sell. That figure isn’t an extreme reading. But it is enough to raise the odds of profit-taking, which can slow or stall further gains. Profit Taking Vs. Whale Accumulation There’s tension in the market right now. Based on reports, about $2 billion in short positions would be at risk if Bitcoin returned to the $124,000 region. That creates a squeeze scenario on a big upside move. At the same time, Santiment notes that wallets holding between 10 and 10,000 BTC have continued to add to their holdings even after the new high. So while many smaller players may take profits, larger holders appear confident and are stacking more coins. Macro Watch: Fed Cut In Focus Investors are also watching the US Federal Reserve. The Fed’s rate cut decision set for Sept. 17 is on many traders’ calendars. The CME FedWatch Tool puts the chance of a cut at about 83%. That expected move is one reason some market participants are sitting tight and waiting, rather than pushing prices higher right away. What Traders Are Watching Next Markets look to be in a consolidation phase, with traders adopting a wait-and-watch stance. If economic news or the Fed decision surprises, price action could pick up fast. But without a new catalyst, sideways action seems more likely in the near term. Based on reports, the combination of modest MVRV pressure, piled-up shorts, and steady whale buying paints a mixed picture — risk now, possible fuel later. Meanwhile, short-term choppiness is plausible. Some investors will take profits. Others — especially larger wallets — are still buying. Watch the Fed date and any sudden shifts in short positions; they could decide which way the next move goes. Featured image from Meta, chart from TradingView

Drilling at First Majestic Silver’s (TSX, NYSE: AG) San Dimas mine in Mexico shows potential for extending high-grade veins and has cut a new structure called Coronado in the West Block, results released late Monday show. The latest drilling returned two standout intercepts that could support near-mine growth. At the Elia vein, hole ELI25X-1 cut 3.57 metres grading 15.93 grams gold per tonne and 1,112 grams silver from 273.6 metres downhole. In the newly-discovered Coronado structure in the West Block, drilling intersected 2.12 metres grading 2.59 grams gold and 327 grams silver starting at 752.6 metres. The intercepts are characteristic of San Dimas’ low-sulphidation narrow-vein system of high-grade shoots in quartz veins. “These new results confirm our view that San Dimas has significant growth opportunities and remains a cornerstone asset for our long-term growth strategy,” CEO Keith Neumeyer said in a release. The 112,000-metre drill program at the mine, located 125 km northeast of Mazatlán, in Durango state, is targeting new veins. It’s also designed to expand resources and upgrade inferred material to indicated near current development headings. The focus is on targets that can move into short- and medium-term mine plans. At the same time, the company is exploring district-scale areas to test parallel structures like Coronado. San Dimas is a critical asset for First Majestic and is important to precious metals streamers, such as Wheaton Precious Metals (TSX, NYSE, LSE: WPM) , with whom it has a long-term agreement tied to its mine output. Discoveries and converting inferred resources to indicated at veins near active sites help maintain life-of-mine production profiles under those agreements. First Majestic shares fell 2.7% or C33¢ by mid-Tuesday in Toronto to C$11.81 ($8.52), but shares are still up 50% over the past 12-months. It has a market capitalization of C$5.8 billion ($4.2bn). Narrow-veined San Dimas has been in continuous production for more than 100 years. Its relatively narrow veins can stretch laterally but are mined at metre-scale widths, according to company documents. It has used underground cut-and-fill and selective long-hole stoping. This is fed by closely spaced underground drilling from drifts. So, the short strike lengths in these reported assays are common and not a problem if continuity is proven. Economics hinge on grade, vein predictability and strict dilution control – development metres per ounce matter as much as headline intercepts. The caveat is variability: veins pinch and swell, so step-outs must show consistent thickness and grade before tonnes make the plan. First Majestic is regarded as a specialist in this style, tailoring mining, backfill and sequencing to squeeze value from narrow, complex structures, according to industry insiders. San Dimas is forecast to produce 9.9 – 10.5 million oz. silver-equivalent this year, comprising 4.9 – 5.2 million oz. silver and 53 – 57,000 oz. gold at cash cost of $14.11 – $14.56 per silver-equivalent oz. and all-in sustaining cost of $18.38 – $19.10 per ounce. The project hosts proven and probable reserves of 3.2 million tonnes at 245 grams silver and 2.84 grams gold per tonne for 25.5 million oz. silver and 294,000 oz. gold, or 51.2 million oz. silver-equivalent metal. More upside First Majestic noted that, beyond Elia and Coronado, step-out and infill holes showed mineralization along the Sinaloa–Elia trend and at Roberta. Drilling up-dip of old stopes found narrow but high-grade intervals. This suggests more testing is needed, the company said. Work at Santa Teresa indicates the vein system remains open along strike and at depth, leaving room for follow-up drilling in the current program. What to watch next is whether follow-up step-outs along Coronado can show continuity and thickness over meaningful distances. Additional results from Roberta and Santa Teresa will indicate how quickly new ounces can be scheduled into the mine plan.

Log in to today's North American session Market wrap for August 19 After the consecutive days of White House invitations of key leaders, Markets start to price in a much higher chance of at least a truce which could be evolving to a longer-standing peace in Eastern Europe. And the pricing in is coming for the right reasons: The White House just announced that Putin accepts to meet Zelenskyy in person. The rest will be to see when and where the meeting will take place. Some compromise will have to be found, but in any case, this is progress towards the resolution of the most deadly conflict in Europe since the World War 2 – with around 500,000 deaths. In other markets, the Spanish Government yields have been rising tremendously since 12:30 PM ET – The particular reasons why are yet to be discovered, but in the meantime, some sources indicate that it may be due to some problem with droughts and wildfires, but yields don't rise just on that. Read More: Silver (XAG) and other metals fall as Markets price-in ease in Ukraine WarCross-Assets Daily Performance Cross-Asset Daily Performance, August 19, 2025 – Source: TradingView The US Dollar and related assets such as US Bonds caught a bid in today's session as the United States and Donald Trump have regained some credibility after the successful meetings with the EU leaders and Putin. This comes at the cost of Tech-related assets and Metals that had performed so well in the past few months. A picture of today's performance for major currencies Currency Performance, August 19 – Source: OANDA Labs Consistent with the mean-reversion from yearly flows seen in Markets today, the JPY is surprisingly the strongest of majors today. The US Dollar is of course a winner as profit-taking continues in other currencies. Let's see if this turns into the beginning of a new trend. You can check our latest article on the US Dollar right here. 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. The week really starts now in terms of Economic data after nothing new today (except for the geopolitical news). The evening session is fairly full with Japan's trade data followed by the New Zealand Rate Decision (with a cut highly expected). Tomorrow will also be packed, between the Jackson Hole Symposium starting. In terms of economic data, the overnight data begins at 2:00 A.M. with German PPI and UK Inflation. A few FED Speeches are expected towards the afternoon and the (not-too-market moving) FOMC minutes are releasing at 14:00 P.M. The Jackson Hole Symposium starts tomorrow evening but most of the action is from Thursday to Saturday! 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.