Redator

This week has been essential for the future course of action for both the Aussie and the US Dollar. After Tuesday's Royal Bank of Australia meeting, where the unanimous decision to cut rates by 25 bps to 3.60%, the Aussie had strengthened a tid-bit. Australian data following the meeting included Employment which largely came as expected and with the 4.2% unemployment rate, staying relatively flat, the RBA will be patient with its upcoming rate cuts – The next meeting will be on the On the other side of the Pacific, the US saw a reassuring CPI data on Tuesday right before these hopes got taken by yesterday's PPI report showing the first effect of tariff-led inflation. The USD hence appreciated but is giving this progress back today – With the uncertain economic and changing macro landscape, AUDUSD traders seem indecise. Let's look at the technicals in the pair to see why. Read More: Technical outlook for US Oil WTI before the Trump–Putin meetingAUDUSD Technical OutlookAUDUSD Daily Chart AUDUSD Daily Chart, August 15, 2025 – Source: TradingView The rebound in the pair since the 1st of August has been decent but wasn't as strong as in the EUR or GBP, as participants were looking to see what the RBA had in mind. RBA's Governor Bullock did mention back to back cuts are still a possibility, but the cut still was not too dovish – It seems that there is still some headwinds for rate-cut prospects in Australia. But how about the US? The path to the first yearly rate cut had been drawn in detail before the PPI report brought some new ink. The rising US Producer Price Index sent the pair down 0.78% yesterday and dip buyers are now appreciating the ongoing selloff in the US Dollar. The 50-Day MA is very flat indicating a lack of trends, but acts as immediate resistance (0.6520) – Keep an eye on this one for immediate bull/bear strength analysis. AUDUSD 4H Chart AUDUSD 4H Chart, August 15, 2025 – Source: TradingView Looking at the 4H timeframe shows more details of the ongoing, weirdly shaped but rangebound price action between 0.6420 lows and 0.66 highs. A few attempts to break out have been met with sudden mean-reversion, slowing the build of much volatility in the pair. The ongoing tighter range that has formed after yesterday's selloff marks the action between the 0.65 support and the 0.6550 pivot zone. Look for a clean break above or below these levels, with any failure to do so giving further strength to the 500 to 700 pip consolidation. Levels to watch for AUDUSD: Resistance Levels 0.6550 Pivot ZoneWednesday Highs 0.65690.6580 to 0.66 Resistance0.6625 2025 highsSupport Levels 0.6420 August Lows and Main Support0.6450 Psychological level0.6480 to 0.65 SupportAUDUSD 1H Chart There is an ongoing tight bull channel forming on the 1H Candles, with the ongoing USD weakness supporting the pair – Look at the hourly trendline. Watch for the aforementioned tight range in today's session for any breakout. 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.

While most cryptocurrencies saw steep declines amid a $1.05 billion liquidation wave, Cardano (ADA) stood out as the only top-50 asset in the green. Despite an 11% dip after topping $1.00 for the first time since March, ADA quickly recovered, hovering between $0.89 and $0.91 and signaling strong buyer support on dips. The resilience came even as Bitcoin retreated from its $124,128 all-time high to the $118K–$119K zone and broader macroeconomic pressures weighed on risk assets. Analysts believe ADA’s ability to maintain momentum despite market turbulence strengthens its bullish case. Cardano (ADA)’s Technical Breakout Points to 70% Upside Market analyst Ali Martinez notes that ADA has finally broken out of a descending channel that’s been in place since its December 2024 peak at $1.32. This move mirrors price action from the 2020–2021 cycle, when ADA consolidated in a similar pattern before rallying to an all-time high of $3.09. With the breakout confirmed above $0.84, Martinez projects a potential 70% run toward $1.50. Other analysts, like Crypto Yhodda, point to the repeating pattern from the last cycle, suggesting ADA could next target $1.80 before attempting a breakout toward new multi-dollar highs. Key support now lies between $0.80 and $1.00, with a sustained close above $1.02 likely confirming the next leg upward. Should bullish momentum hold, upside targets include $1.20, $1.50, and potentially $3.10 in a multi-month rally. On-Chain and Institutional Signals Boost Confidence ADA’s fundamentals are also backing the bullish case. On-chain activity has surged to 2.6 million daily transactions, with low fees of $0.12 enabling mass adoption, especially in emerging markets. The ADAV2 upgrade, featuring zero-knowledge smart contracts, decentralized governance, and Hydra scaling up to 1 million TPS, is attracting enterprise interest. Institutional adoption is accelerating as well. Grayscale has increased ADA’s allocation in its Smart Contract Platform Ex-Ethereum Fund to 20%, and the SEC is reviewing a dedicated ADA ETF. A favorable decision could unlock billions in inflows, mirroring Ethereum’s post-ETF rally. Bottom Line With technical breakout patterns aligning with on-chain strength and growing institutional interest, Cardano’s 2025 rally may be far from over. If current support zones hold, ADA could be poised for a 70% surge, challenging key resistance levels and potentially redefining its place among top altcoins. Cover image from ChatGPT, ADAUSD chart from Tradingview

Sigma Lithium (TSXV, NASDAQ: SGML) surged to a one-month high on Friday as investors welcomed its second-quarter production increase and cost reduction despite missing analyst expectations for earnings. During the three months ended June 30, 2025, the company’s production of lithium oxide concentrate totalled 68,368 tonnes, representing a 38% year-on-year increase. Importantly, the output exceeded its quarterly target of 67,500 tonnes. The Brazil-focused lithium miner also kept costs down, with all-in sustaining cash costs (AISC) coming in at $594/t, below its target of $660/t and 24% lower than the $779/t from a year ago. Despite the higher production, total sales volume dropped 23% over Q2 2024 to 40,350 tonnes, which Sigma’s management attributes to its strategy to withhold products during intense volatility in the global lithium market. As a result, revenue fell significantly compared to the 2024 quarter, at $21.1 million versus $56.3 million. Net loss also widened to $18.8 million from $10.8 million. Its net loss per share of $0.17 was a substantial miss from a consensus of $0.04 from analysts. Still, Sigma’s share responded positively, rising by nearly 10% in Toronto at C$9.17, its highest since July 25. The company has a market capitalization of C$902.7 million ($653.8 million). Sigma CEO Ana Cabral said the company’s Q2 performance highlights the strength of its “low-cost, large-scale operations and disciplined commercial strategy.” “We maintained production cadence at 68,000 tonnes and are comfortably on track to deliver on our annual production target of 270,000 tonnes while preserving pricing power in a volatile market,” she added. In the second quarter, Sigma also made progress with the expansion of its Grota do Cirilo operations in Minas Gerais by advancing the construction of a second plant, which would double its production capacity to 520,000 tonnes per year.

Just 13 days remain before the TOKEN6900 ($T6900) presale closes, and for anyone who has witnessed SPX6900’s meteoric 59,000,000% run from its launch to its current price of $1.56, the clock is ticking. Branded as $SPX’s unhinged sequel, complete with one extra token in supply for “objective superiority,” $T6900 sticks to pure meme chaos without pretending to offer utility. With the presale priced at $0.006975 and $2M+ already raised, demand is building fast, with the next stage of price hike fast approaching. The question now is simple: can TOKEN6900 ($T6900) match, or even surpass, its infamous cousin’s chart? SPX6900’s Legacy – Why it Matters for $T6900 SPX6900 launched as a tongue-in-cheek parody of the S&P 500, offering zero utility and unapologetically running on pure meme-fueled liquidity. What started at rock-bottom prices at launch ended up exploding to an all-time high of $2.28 on July 28, 2025. This locked in a 130,000% gain from its somewhat dismal performance in February 2024. Tokens like $SPX, $DOGE, and $PEPE have shown that with the right cultural spark, a coin’s narrative alone can drive massive price action. For TOKEN6900, that’s the benchmark, and the legends it’s trying to outdo. TOKEN6900’s Twist – One Extra Token & the “69” Factor TOKEN6900’s claim to being “objectively superior” comes from a single, absurd detail – its total supply is exactly one token greater than SPX6900’s. In true meme coin fashion, the quirks don’t stop there: just 6.9K tokens (0.0007%) are allocated to developers (locked for five years), while a strangely precise 24.9999% goes to “dolphins.” The number 69 runs deep in its DNA, echoing Elon Musk’s long-running fixation on pricing a Tesla Model S at $69,420, to joking that his birthday falls exactly 69 days after April 20, in response to an X post noting that Tesla closed 2023 with a 4.20% market share. $T6900 taps into that numerology for viral, culture-driven marketing. It’s satire, yes. But in the land of the best meme coins, a joke that spreads is often the most valuable utility of all. Sub-Cent Entry and Countdown to TOKEN6900 Presale Close At $0.006975, TOKEN6900 ($T6900) sits in the same sub-cent territory where SPX6900 began its parabolic run. The presale aims for a $5M hard cap, with stage-based price hikes adding urgency. Buyers can also stake their tokens for a 33% APY while waiting for the token to launch and hit exchanges. There are just 13 days left on the timer. The sale could close earlier if the $5M hard cap is reached, however, especially considering recent whale buys. That includes a single $16.3K purchase in July. Visit the official Token6900 ($T6900) presale website today. Final Thoughts Before the Presale Clock Runs Out SPX6900’s rise showed how quickly a well-timed meme coin narrative can snowball into massive returns. And TOKEN6900 ($T6900) is positioning itself as the next chapter in that story. The combination of sub-cent pricing, a clear cultural hook, and a fixed presale window appears to be appealing to those chasing the next crypto to explode. However, this is not financial advice. Meme coins are volatile by nature, so please always do your own research before buying anything.

The global iron ore market is in the midst of a major pricing shift, moving away from the long-standing 62% Fe benchmark toward a new 61% Fe specification. The change, driven by a gradual decline in ore grades and higher impurity levels, is reshaping both the physical and financial sides of the industry and raising big questions about how iron ore is valued. Why the change matters For decades, the 62% Fe grade served as the anchor for global pricing, with Pilbara Blend Fines (PBF) acting as the bellwether. But as mined grades have steadily dropped, the 62% benchmark no longer matches what is actually traded. The move to a 61% Fe baseline, effective from 2026, reflects this reality. The Singapore Exchange (SGX) has proposed iron ore futures — which see volumes more than three times larger than the physical market — to still be tied to the old specification, but with a one-off price adjustment in September to bridge the gap. This would preserve liquidity in the contract, but traders say it complicates valuations and adds basis risk. Physical market moving faster The physical market, particularly in China (which buys over two-thirds of seaborne iron ore), has already shifted. Since May, PBF shipments for July arrival have been trading closer to 61% Fe, leaving the 62% Fe benchmark increasingly disconnected from reality. A dual-index solution Price reporting agencies have begun adapting. Argus, for example, has launched a dedicated 61% Fe index alongside its 62% Fe benchmark. This allows for direct valuation of the new grade while maintaining clarity around quality differentials. Industry voices argue that a dual-index approach — using both 61% and 62% Fe benchmarks — is essential during the transition. It would allow exchanges to launch new financial products, such as a 61% Fe futures contract, that align with the physical market and restore confidence in price discovery. While the grade shift has created short-term uncertainty, it also offers a rare chance to address long-standing flaws in the pricing system. Moving to a specification that reflects what is actually traded could reduce basis risk, improve transparency, and align financial settlement with physical reality.

Most Read: Ripple (XRP/USD) Falls 6% on Manipulation Fears, Liquidations Surge. Will the $3.00 Support Hold? The Dow Jones Industrial Average reached a record high on Friday, becoming the last of the three major U.S. indexes to hit a new peak. This rally was driven by hopes for easier monetary policy, reduced trade tensions, and strong corporate earnings. The Dow climbed past its previous high of 45311 from July 28, boosted by a surge in UnitedHealth Group shares after Warren Buffett's Berkshire Hathaway announced a new investment in the company. The Dow's rise this year has been driven by strong performances from Goldman Sachs, Microsoft, and Caterpillar. Nvidia, a leader in AI and chip design, also played a big role. It became the first public company to hit a $4 trillion market value, with its stock up over 30% this year. Source: LSEG The Dow has risen over 20% since its low in April, following President Trump's announcement of major "reciprocal tariffs" to reshape global trade in favor of the U.S. With new trade deals made with the UK, Japan, and the EU, investors are confident that a global recession is unlikely. US Retail Sales Rise, Industrial Output Falls Sales growth is steady but still facing challenges. In July, overall retail sales increased by 0.5%, slightly below the expected 0.6%, with a small upward revision of 0.1%. Sales excluding autos rose by 0.3%, matching expectations, and were revised up by 0.4%. Meanwhile, control retail sales, which exclude more volatile categories, grew by 0.5%, just above the 0.4% forecast, with a similar upward revision of 0.4%. This report helps ease concerns about consumer spending after the tariff impact, thanks to small gains in sales and upward revisions to previous months' numbers. However, spending growth still seems weak, and with a slowing job market and more tariff effects expected, a big rebound in growth is unlikely. In what should be a concern for market participants when it comes to the DOW in particular, Manufacturing is showing signs of stagnation again, as weak surveys suggest. In July, industrial production dipped by 0.1%, slightly below expectations, while manufacturing output stayed flat. Although manufacturing saw some growth earlier this year, it has now leveled off, with production likely to remain sluggish in the coming months. Key indicators, like the ISM new orders index and regional Fed surveys, show ongoing weakness in future production and investment plans. Despite trade deals and tax incentives, there’s no evidence that tariffs are driving significant investment in U.S. manufacturing. High labor costs compared to overseas markets make it unlikely that tariffs alone will bring back many manufacturing jobs without causing steep price increases for consumers. Global Equity Fund Flows Hit Six-Week Highs Global equity funds saw their biggest weekly inflows in six weeks by August 13, thanks to lower-than-expected U.S. inflation and a tariff truce between the U.S. and China, which boosted investor confidence. Technology stocks, like Apple, attracted strong interest after the company announced new U.S. investments to avoid tariffs on iPhones. Investors poured a net $19.32 billion into global equity funds, bouncing back from the $7.63 billion net outflow the previous week, according to LSEG Lipper data. U.S. equity funds led with $8.77 billion in inflows, recovering part of the $13.89 billion outflow from the prior week. European and Asian funds also gained $7.08 billion and $2.07 billion, respectively. Source: LSEG Given that the Trump-Putin meeting begins in a short while, positive developments there could help remove any concerns around geopolitical risk moving forward. This in theory should be positive for risk assets and could see next week bring more flows toward global and US equity markets. Is the DOW setting up for a run toward the 50000 psychological mark? Technical Analysis - Dow Jones Index From a technical standpoint, the Dow Jones index has printed a fresh all-time high, but is experiencing a pullback at the time of writing. The index is down around 0.59% on the day. The golden cross pattern which took place on Tuesday and helped propel the index to fresh all-time highs may potentially be in for a retest in the week ahead. As discussed above, the outcome of the Trump-Putin meeting could be the catalyst for risk assets and more particularly global equities to continue their impressive rise. Trade deal concerns may remain, but a potential Russia-Ukraine deal could remove some of the geopolitical risk premium which has lingered in the minds of market participants despite the impressive equities rally in 2025. On the upside there is no historical price action to analyze. This means focus will be on whole numbers and psychological levels such as the 46000 and 46500 handles. A deeper pullback may look toward the 50-day MA which rests at 44382 before the 100 and 200-day MAs come into focus around the 43000 handle. Dow Jones Daily Chart, August 15, 2025 Source: TradingView (click to enlarge) Client Sentiment Data - DOW JONES Index Looking at OANDA client sentiment data and market participants are short on the DOW with 75% of traders net-short. I prefer to take a contrarian view toward crowd sentiment and thus the fact that so many traders are short means the Dow Jones Index could rise 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.

Montage Gold (TSX: MAU) says a worker died Thursday following an accident at the company’s Koné project in Côte d’Ivoire. Construction activities at the site resumed Friday after a one-day pause, a company spokesman said via e-mail. The incident took place during earthwork activities at Koné, Vancouver-based Montage said late Thursday in a statement. “The health, safety and welfare of our colleagues is our top priority and we are deeply saddened by this news,” Montage said in the statement. “We extend our sincere sympathies and support to his family, colleagues and friends.” A “comprehensive” internal investigation into the accident – which occurred more than 1 km away from the employee’s assigned work location – is under way, the company said. Montage has notified local authorities and says it will work closely with them. Koné, which has an estimated mine life of 16 years, is expected to start producing gold in 2027. Annual gold output is expected to average 300,000 oz. in the first eight years. “We don’t anticipate any material impact to development while the investigation is ongoing,” National Bank Financial mining analyst Mohamed Sidibé said Friday in a note. Montage shares gained 0.2% to C$5.14 apiece Friday morning in Toronto, giving the company a market capitalization of C$1.85 billion. The stock has traded in a 12-month range of C$1.71 to C$5.30. Koné is located about 350 km northwest of Yamoussoukro, Côte d’Ivoire’s political capital, and about 600 km northwest of Abidjan, the country’s commercial capital. It’s accessible year-round via an asphalt road.

Since our most recent analysis, the energy commodity has kept struggling, but it seems that some change is happening. Yesterday’s rebound looks to have carved out an intermediate bottom after Wednesday's dragonfly doji (which you may discover on the charts). Oil’s slide in recent weeks has been less about fresh supply or demand shocks and more about the market’s inability to find better hopes for global growth amid growing supply. All eyes are on today’s high-stakes meeting between Trump and Putin in Anchorage at 11:30 ET. The Russian president praised the “sincere efforts” of his US counterpart ahead of the talks. The geopolitical backdrop has now taken center stage, as recent oil data offered no real surprises to shift the narrative. Is a bottom now in place? If the meeting delivers better-than-expected results, that could become reality, potentially sparking a buy-the-news rally and breathing some newfound volatility in the commodity. Read More: Imminent profit-taking in Cryptocurrencies – What's the story WTI Oil Technical Levels ahead of the Trump–Putin MeetingUS Oil Daily Chart US Oil Daily Chart, August 15, 2025 – Source: TradingView The past week had preceded a breakdown from the July range ($65 to $70.5) after about eight different crosses within the consolidation. A failed breakout higher got met with a tight bear channel (where bear candles overlap each other) as global growth outlooks got revised lower from the NFP Payrolls and supply keeps getting increased with conflicting producing nations. The drop, marking lows at 62.19 on Wednesday in the shape of the Dragonfly daily Doji has been followed by a decent bull candle yesterday now invalidating the tight bear channel formation. The current Daily candle looks to engulf the one from yesterday, nonetheless, the session is young and the biggest catalyst has yet to show its results. US Oil 4H Chart US Oil 4H Chart, August 15, 2025 – Source: TradingView Sellers have taken control of the price action since August 1st as degrading data keeps hurting the commodity, already in the midst of supply-headwinds. Watch how the ongoing bearish descending channel allowed to break the different July range levels , with prices now arriving right into the $63 to $64 May range highs Zone. This morning saw some form of selling, which looks like position clearing ahead of the event – Markets tested the $63 psychological level and are consolidating since. Levels to watch for US Oil: Resistance Levels $65 to $66 Previous range support, now PivotImminent Pivot Zone $67.30 to $68 – Confluence with 50 and 200 Day MAs69.5–$70.5 Resistance Zone, range extremesSupport Levels $63.00 to $64 May Range highs supportWednesday lows $62.19$60.5 Low of May Range$55 to $57 2025 lows Main supportUS Oil 1H Chart US Oil 1H Chart, August 15, 2025 – Source: TradingView Looking even closer to the 1H timeframe we spot how the price action is consolidating within the $63 to $64 Support. An ongoing short timeframe range is forming with $63 to $63.20 lows (currently trading) and with the highs located between $64 to $64.20, at a confluence with the highs of the descending channel. Keep watching the headlines as the event approaches fast. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin is once again at a pivotal moment, facing heavy resistance after setting a new all-time high around $124,000 yesterday. The milestone sparked excitement among bulls, but also renewed caution among analysts who warn that slowing momentum could signal a potential market cycle top. Some see the recent hesitation as a sign that buyers may be losing steam at these elevated levels. Despite the growing bearish speculation, on-chain data from CryptoQuant offers a more optimistic perspective. The Short-Term Holder Spent Output Profit Ratio (STH SOPR-7d) has climbed to 1.04 with Bitcoin trading near $119,000. This reading means that, on average, short-term holders are selling their coins at a profit — yet the market is successfully absorbing this selling pressure without triggering a sharp correction. Historically, maintaining SOPR above the 1.00–1.02 range, with pullbacks to unity quickly bought up, has supported continued uptrends. While the current amplitude is still below the overheated peaks of past cycles, the data suggests that profit-taking remains moderate. The coming days will be crucial in determining whether BTC can overcome its current resistance zone or if it will face a deeper retracement before attempting another push higher. Moderate Selling Pressure Hits Bitcoin According to top analyst Axel Adler, Bitcoin’s Short-Term Holder Spent Output Profit Ratio (STH SOPR-7d) remains in a healthy range, with amplitude still moderate and well below the peaks of 1.06–1.09 seen in previous bullish waves. This indicates that selling pressure from short-term holders is not extreme, even as BTC trades near its all-time highs. Adler notes that the bullish scenario hinges on maintaining the SOPR-7d above 1.00–1.02, as values above unity mean that short-term holders are, on average, selling at a profit — and the market is absorbing that supply without triggering a larger sell-off. Ideally, brief pullbacks toward 1.00 should be met with strong buying interest, as quick rebounds from unity historically confirm robust demand. However, the analyst cautions that if SOPR dips below 1.0 and stays there, it would signal weakening demand. This shift would increase the probability of a deeper market correction, as it implies that coins are being sold at a loss and buyers are not stepping in aggressively enough to absorb them. The coming days will be pivotal for Bitcoin’s short-term trajectory. Many analysts see BTC pushing decisively above $125,000 as the next major breakout level. Others, however, remain cautious, expecting the market to face a sharp retracement before resuming its upward trend. Bitcoin Tests Resistance After Sharp Rejection from New Highs Bitcoin’s daily chart shows the cryptocurrency recently tested a new all-time high near $124,000 before facing swift rejection, pulling back to current levels around $118,777. This drop marks a failure to sustain momentum above the crucial $123,217 resistance zone, highlighted in yellow on the chart. Despite the rejection, BTC remains well-supported above the 50-day moving average (blue), currently near $115,194. This level has consistently acted as a dynamic support during the 2025 uptrend. The 100-day MA (green) at $110,456 and the 200-day MA (red) at $100,144 remain far below, underscoring the strength of the broader bullish structure. The consolidation below resistance reflects a market pausing to digest recent gains. For bulls, reclaiming $123,217 and closing above $124,000 would signal renewed momentum and could open the path toward $125,000 and beyond. A break below the 50-day MA could trigger a deeper pullback, with the 100-day MA as the next support. Featured image from Dall-E, chart from TradingView

US President Donald Trump said Friday he will soon impose new tariffs on imports of steel and semiconductor chips, signaling another escalation in his trade policy aimed at boosting domestic manufacturing. Speaking to reporters aboard Air Force One en route to a meeting with Russian President Vladimir Putin in Alaska, Trump said the tariffs would be announced over the next two weeks. The rates will start lower to give companies time to establish production in the United States before rising sharply. While the president did not specify the exact initial rates, he indicated that the higher long-term tariffs would make it more attractive for companies to build manufacturing capacity domestically rather than rely on imports. Trump has already shaken global trade by hiking duties across a wide range of goods. In February, his administration raised tariffs on steel and aluminum to 25%, later doubling the rate to 50% in May to bolster US producers. It remains unclear whether the forthcoming measures will further increase those rates. Last week, Trump said he would impose a 100% tariff on semiconductor imports, with exemptions for companies committing to significant US manufacturing investments. His latest remarks coincided with Apple’s announcement of an additional $100 billion investment in its domestic operations. The move is part of a broader push to reindustrialize the U.S. and reduce reliance on foreign supply chains, a strategy that has drawn both support from domestic producers and criticism from trade partners. (With files from Reuters)

South Africa’s Gold Fields (JSE: GFI) is closing in on its A$3.7 billion ($2.4 billion) takeover of Australia’s Gold Road Resources (ASX: GOR), with shareholders set to vote on the deal on September 22. The Australian mid-tier gold miner agreed in May to the proposed acquisition and confirmed that a scheme booklet, detailing the plan for a Gold Fields subsidiary to acquire all its shares, has been registered with the Australian Securities and Investments Commission. The company’s board has unanimously recommended the offer. The deal would give Gold Fields full ownership of the Gruyere mine in Western Australia, where it already holds a 50% stake and serves as operator. The joint venture produced 287,000 ounces of gold in 2024, accounting for roughly 11% of Gold Fields’ free cash flow from extraction last year. Gold Road also controls the adjacent Yamarna project, various other Australian exploration assets, and shareholdings in several ASX-listed companies, including Northern Star, Yandal Resources, Iceni Gold and Premier1 Lithium. The acquisition requires approval from 75% of Gold Road shareholders. If successful, it will be the third ASX 200 gold company acquired in 2025, following Northern Star Resources’ A$6 billion purchase of De Grey Mining and and Ramelius Resources’ A$2.4 billion deal for Spartan Resources. Gold Fields is increasingly focused on Australia, home to four of its nine global mines: Gruyere, St Ives, Granny Smith and Agnew. In 2024, these operations delivered 48% of total production and free cash flow, generating 992,000 ounces of gold and $552 million. Nearly all of the company’s $72 million exploration budget last year was spent in Australia.

BlackRock’s cryptocurrency portfolio has surpassed the $100 billion mark, as Bitcoin and Ethereum push to new all-time highs. The world’s largest asset manager now holds nearly $104 billion in digital assets, and this achievement came as Bitcoin briefly broke above $124,000 on August 14, 2025, to set a new price record before consolidating between $118,000 and $121,000. Ethereum also surged to nearly $4,790, just shy of its 2021 peak of $4,878. BlackRock’s Expanding Digital Asset Portfolio Bitcoin and Ethereum have been on a price roll in recent weeks, and a large part of this momentum can be attributed to steady institutional inflows into Spot Bitcoin and Ethereum ETFs based in the US. At the forefront of this surge is BlackRock, the world’s largest asset manager, which continues to dominate in terms of assets under management (AUM) and growth in cryptocurrency exposure, particularly in Ethereum in the past two months. Interestingly, data from Arkham Intelligence shows that BlackRock has crossed the $100 billion mark in terms of total crypto holdings. This interesting milestone is based on a combination of inflows into its ETFs, which has increased its accumulation strategy, and the recent uptick in the price of cryptocurrencies across the board. Data from Arkham Intelligence shows BlackRock’s total holdings recently hit a peak value of $107 billion when Bitcoin reached a record price of $124,128 yesterday, and Ethereum reached a multi-year price peak of $4,775. At the time of writing, the investment management company is holding 744,240 BTC worth $88.43 billion and 3.2 million ETH, worth approximately $14.78 billion. Putting The Growth Into Perspective At the beginning of 2025, BlackRock’s cryptocurrency portfolio was valued at roughly $54 billion, with the overwhelming majority of that exposure concentrated in Bitcoin. However, the first quarter of the year brought a period of weakness, as Arkham Intelligence data shows the portfolio’s value slid to a low of about $46 billion in early April. From that point on, momentum shifted sharply in the opposite direction. The firm’s total holdings have since climbed by about 124% from April 7 up until the time of writing. Bitcoin still accounts for more than 85% of BlackRock’s crypto allocation, but the most remarkable growth story in the past eight months has come from Ethereum. In both volume and market value, ETH holdings have expanded at a far more aggressive pace than Bitcoin, surging by over 309% in dollar terms since the start of the year. At the start of 2025, BlackRock’s Bitcoin reserves stood at approximately 552,000 BTC. Current data indicates that Bitcoin holdings have grown by about 34% over the course of the year. Ethereum’s expansion within BlackRock’s portfolio has been even more notable, as the firm began the year with roughly 1.1 million ETH and has more than doubled its position in just eight months, with the current volume representing a 190% increase.

Capriole founder Charles Edwards argues that Bitcoin’s famous four-year boom-and-bust pattern has effectively ended—not because markets have matured into a placid equilibrium, but because the engine that once forced 80–90% drawdowns has been dismantled by Bitcoin’s own monetary design. The 4-Year Bitcoin Cycle Is Dead In his Update #66 newsletter published on August 15, 2025, Edwards writes that since the April 2024 halving, Bitcoin’s annual supply growth has fallen to roughly 0.8%, “less than half of Gold’s 1.5–3%,” adding that this shift “made Bitcoin the hardest asset known to man, with look-ahead certainty.” With miners’ new-issuance supply now a rounding error compared with aggregate demand, the dramatic, miner-driven busts of prior cycles look increasingly like artifacts of an earlier era. “In short – the primary driving force behind Bitcoin cycle 80-90% drawdowns historically is dead.” Edwards does not deny that cycles exist. He reframes their causes. Reflexive investor behavior, macro liquidity, on-chain valuation extremes, and derivatives-market “euphoria” can still combine to produce sizable drawdowns. But if the halving calendar no longer dictates those inflection points, investors must recalibrate the signals they monitor and the timelines on which they expect risk to crystalize. On reflexivity, he cautions that belief in the four-year script can itself become a price driver. If “enough Bitcoiners believe in the 4 year cycle… they will structure their investing activities around it,” he notes, invoking George Soros’s notion that market narratives feed back into fundamentals. That self-fulfilling element can still trigger “sizeable drawdowns,” even if miners are no longer the marginal price-setters. Macro liquidity, in Edwards’s framework, remains decisive. He tracks a “Net Liquidity” gauge—the year-over-year growth in global broad money minus the cost of debt (proxied by US 10-year Treasury yields)—to distinguish genuinely expansive regimes from nominal money growth that is offset by higher rates. Historically, “All of Bitcoin’s historic bear markets have occurred while this metric was declining… with the depths… while this metric was less than zero,” he writes, whereas “All of Bitcoin’s major bull runs have occurred in positive Net Liquidity environments.” As of mid-August, he characterizes conditions as constructive: “We are currently in a positive liquidity environment and the Fed is now forecast to cut rates 3 times in the remainder of 2025.” On-Chain Data Is Still Supportive If liquidity sets the tide, euphoria marks the froth. Edwards points to established on-chain gauges—MVRV, NVT, Energy Value—that have historically flashed red at cycle peaks. Those indicators, he says, are not yet there: “In 2025 we still see no signs of onchain Euphoria. Bitcoin today is appreciating in a steady, relatively sustainable way versus historic cycles.” A chart of MVRV Z-Score “shows we are nowhere near the price euphoria of historic Bitcoin tops.” By contrast, his derivatives composite—the “Heater,” which aggregates positioning and leverage across perps, futures, and options—has been hot enough to warrant short-term caution. “The heat is on… Of all the metrics we will look at here, this one is telling us that the market locally has overheated near all time highs this week.” In his telling, elevated Heater readings can cap near-term upside unless they persist for months alongside rising open interest—conditions more consistent with a major top. One metric, however, eclipses the rest in 2025–26: institutional absorption of new supply. “Today, 150+ public companies and ETFs are buying over 500% of Bitcoin’s daily supply creation from mining,” Edwards writes. “When demand outruns supply like this, Bitcoin has historically surged over the coming months. Every time this has happened in Bitcoin’s history (5 occurrences), price has shot up by 135% on average.” He emphasizes that the current, extended period of high multiples on this measure is “good news for Bitcoin,” while conceding the obvious caveat: no one can know how long such conditions will last. Because institutional demand can flip to supply, Edwards details a “treasury company early warning system.” He highlights four watch-items that his team tracks “24/7 for cycle risk management and positioning purposes”: a Treasury Buy-Sell Ratio that, if falling, “suggests growing selling by the 150+ companies”; a Treasury CVD whose flattening or lurch into a “red zone” is “risk off”; the percentage of Coinbase volume that is net buying; and a Treasury Company Seller Count that, on spikes, has historically preceded pressure. Layered on top is balance-sheet fragility. The more treasuries lever up to accumulate Bitcoin, the more a drawdown can cascade through forced deleveraging. “Total Debt relative to Enterprise value are key to track,” he says, adding that Capriole will publish a fresh tranche of treasury-risk metrics “next week.” Quantum Computers Vs. Bitcoin Edwards then makes an argument many Bitcoin investors will find uncomfortable: quantum computing is both an attractive return opportunity and Bitcoin’s most concrete long-term tail risk. Capriole, he says, expects “the asset class will outperform Bitcoin by circa 50% p.a. over the next 5–10 years,” citing today’s small market capitalizations against a “$2T+” addressable market. At the same time, “in the long-term (without change) QC is existential to Bitcoin,” with a worst-case window of “3–6 years” to break the cryptography that secures wallets and transactions. He notes that China “is spending 5X more on QC than the US” and recently “presented a QC machine a million times more powerful than Google’s,” arguing that the pace of breakthroughs, “with… innovations occurring every quarter,” suggests “this technology will mature sooner than many think. Just like ChatGPT.” The operational challenge, even if the risk is not imminent, is the migration path. Edwards sketches back-of-the-envelope constraints: roughly 25 million Bitcoin addresses hold more than $100; on “a good day,” the network handles about 10 transactions per second. If everyone tried to rotate to quantum-resistant keys at once—and many would prudently send test transactions—it would take “3–6 months” just to push the transactions through, before even counting the time to achieve consensus on, and deploy, a preferred upgrade. “Optimistically we are looking at a 12 month lead time to move the Bitcoin network to a Quantum proof system,” he writes. He flags work by Jameson Lopp as a starting point and urges the community to “encourage action on the QC Bitcoin Improvement Proposals (BIPS).” Capriole itself holds quantum-computing exposure both for return potential and as “a portfolio hedge should a worst case scenario eventuate.” His conclusion is clear without being complacent. “The Bitcoin miner driven cycle is largely dead.” If institutional demand holds, “there is a strong chance of a right translated cycle,” with “a significant period of price expansion still ahead of us.” But vigilance is essential. The two variables to prioritize this halving epoch, in his view, are “Net Liquidity and Institutional Buying,” while the “biggest risk to this cycle” is paradoxically the cohort that has powered it: the Bitcoin treasury companies whose balance-sheet choices can compound both upside and downside. Quantum computing, he stresses, “isn’t a risk to Bitcoin this Halving cycle,” but absent action “it certainly will be in the next one.” The prescription is not to fear cycles, but to retire the outdated ones and prepare—technically and operationally—for the cycles that remain. At press time, BTC traded at $119,121.

Lucapa Diamond (ASX: LOM), the operator of Angola’s Lulo alluvial mine and Australia’s Merlin project, has struck a rescue deal with a Dubai-based group that could pull it from administration. Administrators KordaMentha have signed a deed of company arrangement with Jemora Group’s Gaston International, which has agreed to inject about A$15 million ($10 million). The deal would see creditors paid in full and shareholders receive a partial payout of up to 1.8 Australian cents per share — an improvement on Lucapa’s May 12 closing price of 1.4 AUD cents. Over the prior 12 months, Lucapa shares traded between 1.3 and 9.7 AUD cents. Jemora, a metals and mining conglomerate aiming to make the United Arab Emirates a hub for resource investment, operates Gaston as its energy and precious metals arm. Lucapa entered administration in May due to a combination of slumping diamond prices, intensifying competition from synthetics and mounting operational setbacks. The collapse followed last year’s sale of its Mothae mine in Lesotho, leaving Lulo as its only source of income. That operation has suffered from flooding in higher-grade areas and a blockade by local leaders in February this year. Efforts to raise equity in April 2025 failed, as did a sale of a 40% stake in Merlin. Administrators determined Lucapa became insolvent by May 21, though financial stress had been evident since 2023. If creditors and the court approve, the proposed deal would restructure the company and transfer its shares to Jemora’s control. A creditor meeting is scheduled for August 20.

Ethereum rallied on Monday and pushed toward highs it hasn’t seen since late 2021, reaching $4,780 during the session. Traders and funds appear to be reallocating capital into ETH, and several on-chain and market indicators are lining up in its favor. According to CryptoQuant, the ETH/BTC price ratio has crossed above its 365-day moving average, a technical move that has often marked the start of stronger runs for Ethereum versus Bitcoin. ETF Demand Pours In According to fund flow reports, US spot Ethereum ETFs pulled about $1 billion in a single trading day, with BlackRock’s ETHA taking in $640 million and Fidelity’s FETH adding $277 million. ETF holdings now total roughly $26 billion, and cumulative inflows this cycle are close to $11 billion. That kind of money is meaningful because it reflects tracked institutional and retail demand entering ETFs rather than the untracked corners of crypto markets. Spot And Futures Show The Same Bias Market data also points to growing interest in ETH in both spot and derivatives markets. Reports show open interest in Ethereum derivatives rising faster than Bitcoin’s, and perpetual futures positioning has picked up. On the spot side, CryptoQuant’s volume ratio put ETH’s trading activity at 1.66 relative to BTC last week — the highest level since June 2017 — and over the last four weeks ETH spot volume ran about $24 billion versus Bitcoin’s $14 billion. Some on-chain indicators are flashing caution. Daily ETH inflows into exchanges have climbed and now top those of Bitcoin, suggesting that holders may be moving coins back to exchanges to sell into higher prices. Historically, rising exchange inflows near key technical resistance can precede short-term pullbacks, and analysts are watching those flows closely as a potential sign of profit-taking. Why The Ratio Matters The ETH/BTC ratio is getting extra attention because it measures relative strength between the two largest crypto assets. Crossing above long-run moving averages like the 365-day line can attract momentum traders and funds that follow technical signals. Still, past breakouts have sometimes reversed quickly, so traders are balancing bullish bets with protective measures like trimming positions or using stop orders. Flow data will be decisive in the coming days. If $1 billion ETF inflow days repeat and open interest keeps rising, momentum could continue. If exchange inflows accelerate and ETF demand cools, price action could stall. Featured image from Meta, chart from TradingView

Overview: Today marks the 54th anniversary of the end of the Bretton Woods agreement that pegged the dollar to gold and other currencies to the dollar. Nixon, who was regarded as among the most conservative presidents of his generation also announced a 90-day wage and price freeze and a 10% surcharge on imports. After some fits and starts, the modern era of floating exchange rates was introduced. Europe wanted little currency movement within its growing trade bloc and after several experiments failed, it opted for a single currency in the late 1990s. The incredible asymmetry of power at the end of WWII made Bretton Woods possible in the first place. The US appears to no longer have the will or power to impose a new Bretton Woods but is too strong to allow others who are too divided to create a new order. One of the early advocates of the “Mar-a-Lago accord," Stephen Morin, will soon be a governor on the Federal Reserve. This was supposed to be a mini-Plaza Agreement (Sept 1985 coordinated and repeated intervention to drive the dollar lower), but what US sees as a success, Japan cringes and China sees worrisome sign of America's strategy, and may have influenced its efforts to have the yuan shadow the dollar. The greenback is trading with a softer profile today as yesterday's gains are pared. Stronger than expected Japanese GDP has lifted the yen, though the odds of a BOJ hike are slightly less than swaps market had at the end of last month. As is often the case in a soft US dollar environment, the Canadian dollar is the laggard. It is jostling with sterling for the bottom of the G10 currencies today with about a 0.15% gain. Central European currencies and the Mexican peso are leading the emerging market currency complex today. East Asian currencies and the Turkish lira are the weakest. Despite disappointing Chinese economic data, the onshore yuan is trading slightly firmer. The large bourses in the Asia Pacific and Europe have risen today. The notable exception is Hong Kong, and the index of mainland shares that trade there. Bond markets are under modest pressure. The 10-year JGB rose a couple basis points, while European yields are mostly around 2-4 bp higher. News that S&P upgraded India's sovereign credit to BBB from BBB- seemed to have little impact on Indian rates. It is the rating agencies first upgrade of India since 2007 and is now one notch ahead of Fitch and Moody's. The 10-year US Treasury yield is flat, near 4.285%. Gold is consolidating at the lower end of yesterday's range, leaving it off around 1.7% this week, which, if sustained, would be the largest weekly loss since the end of June. September WTI extended yesterday's recovery slightly (to $64.15) before reversing and is now below $63.50. The oil market, in particular, may be sensitive to the outcome of President Trump and Putin's meeting in Alaska today. A joint press conference is expected afterward. USD: After holding above Wednesday's low yesterday, the Dollar Index was trading firmer ahead of yesterday's stronger than expected PPI. It was bid through Wednesday's high (almost 98.15) to meet the (38.2%) of the losses since Monday's high (~99.30). It is trading softer today but inside yesterday's range. It probably takes a move above 98.50-65 or a break of 97.30 to signify anything of technical importance. There is a slew of US data today: July retail sales, industrial production, import/export prices, business inventories, the August Empire State manufacturing survey, and the preliminary August University of Michigan consumer confidence and inflation expectation survey. Strong auto sales look to have flattered retail sales, but even the measure that excludes autos, gasoline, food services, and building materials appear to have held up. Still anecdotal reports warn of downside risk. Industrial production and manufacturing output is expected to be flat after a 0.3% and 0.1% increase in June, respectively. Import prices may have risen by 0.1% for the second consecutive month. If so, the cumulative change this year would be flat. Since import prices do not include the tariffs, it would suggest that overall foreign producers are absorbing the tax increase, even if there are reports of individual companies or industries that might be accepting narrower profit margins into order to maintain market share. University of Michigan's inflation expectations are expected to remain elevated. Lastly, the June Treasury's International Capital report is due late today. Despite the cries of capital flight of the tariffs or large deficit, the fact of the matter is that the net capital inflows in the first five months of the year (~$682 bln) is more than the first five months of 2023 (~$309 bln) and 2024 (~$95 bln) put together. EURO: The euro fell by about 0.50% yesterday, its biggest loss since the end of July. At the same time, the US two-year premium over Germany widened for the first time in five sessions. The euro found support yesterday near the 20-day moving average (~$1.1630) and has held above $1.1645 today. The euro is firm in the European morning, probing the $1.1685-90 area. This week's low was set Monday close to $1.1590. Below there initial support is seen near $1.1560, but a break of $1.1520 would undermine the technical tone. The week's high was set Wednesday around $1.1730. CNY: After falling to its lowest level since July 28 yesterday (~CNH7.1680), the dollar rebounded to a new session high (~CNH7.1830) around midday in NY. It reached nearly CNH7.19 today but is now back to around CNH7.1835. We note that after being inversely correlated with the dollar-yen in April and again in May, the 30-day rolling correlation has been above 0.60 since mid-July. The dollar's recovery against the yen yesterday, seemed to favor the high dollar fix today from the PBOC. After it set the dollar's reference rate at its lowest level since last November (CNY7.1337) yesterday, the PBOC set the fix today at CNY7.1371 today. China reported softer real sector data. Year-over-year retail sales slowed to 3.7% (from 4.8%) and were slowest in five months. Poor weather (hot, rains, and floods), coupled with the government's efforts to rein in excess capacity ("anti-involution" campaign), appeared to have slowed industrial production to 5.7% year-over-year rate from 6.8% in June. The surveyed jobless rate ticked up to 5.2% from 5.0%. The real estate market remains troubled. New and used house prices continue to fall, and property investment has yet to stabilize. Reports suggest Beijing is considering "asking" state-owned enterprises to buy homes. Earlier this week, China announced plans to subsidize part of the interest payments on some consumer loans. JPY: If Treasury Secretary Bessent's call on the BOJ to hike rates weighed on greenback against the yen initially yesterday, the jump in US rates following the PPI reported overwhelmed it. The greenback recovered from JPY146.20 to almost JPY148.00. However, stronger than expected Japanese growth pushed the dollar back down. It is testing the JPY146.75-80 area in the European morning. Japan's economy grew by 1.0% at an annualized rate in Q2 compared with a 0.4% expansion projected by the median forecast in Bloomberg's survey. The 0.2% contraction in Q1 was revised away. The economy now is said to have expanded by 0.6% in Q1, making it the strongest G10 economy in Q1. The deflator moderated to 3.0% from 3.3%, which was also unexpected. Consumption increased by 0.2%, matching the revised performance in Q1. Business spending improved to 1.3% from 1.0% and inventories that added 0.6% to GDP in Q1 subtracted 0.3% from Q2 growth. Net exports, which were a 0.8% drag in Q1, were net contributors in Q2 (0.3%). Since the beginning of July, the swaps market has ranged from pricing in 10 bp of tightening this year to a little more than 20 bp. It is a little below 17 bp to end the week, up from about 14.5 bp at the end of last week after finishing July slightly below 18 bp. GBP: On the back of the stronger than expected Q2 GDP yesterday, sterling reached almost $1.36, its best level since July 10. However, the broader dollar recovery after the US PPI sent sterling lower. It fell to about $1.3520, meeting the (38.2%) retracement of this week's rally. There are options for about GBP555 mln at $1.3520 that expire today. Yesterday's low has held today, and sterling is trading firmly in the $1.3560 area. A band of resistance is seen in the $1.3600-30 area. Since the August 1 low, sterling has rallied more than three cents (~3.5%) and it looks stretched in the short run. To sustain the momentum, sterling must settle above $1.3520. CAD: The US dollar posted a bullish outside up day against the Canadian dollar by trading on both sides of Wednesday's range and settling above its high. In fact, greenback posted its highest settlement this month and nearly reached the (61.8%) retracement of the loss since the August high found around CAD1.3820. However, the US dollar stalled there and has been pushed back below CAD1.3800. The CAD1.3720-40 area looks like solid support now. Existing home sales rose 3.8% in July (2.8% in June). The June manufacturing and wholesale sales, due today, are not typically market movers. AUD: The Australian dollar initially rose above Wednesday's high yesterday, encouraged by a firm employment report. It approached $0.6570, the best level since July 28. However, as the greenback caught a bid after the PPI, the Aussie reversed and was sold through Wednesday's low (~$0.6515) before finding support slightly in front of Tuesday's low ($0.6480). The Aussie settled below $0.6500 for the first time since August 5. The loss allowed the Australian dollar to nearly met the (61.8%) retracement of this month's rally, which began on August 1. In line with the broadly weaker greenback, the Aussie is near session highs (~$0.6515) in late European morning turnover. There are options for a little more than A$560 mln at $0.6523 that expire today (and nearly A$675 mln struck at $0.6515 that expire early next week). MXN: The combination of the US dollar broad rally, the jump in US rates, and the sell-off of most emerging market currencies took a toll on the Mexican peso. The greenback seemed poised to move higher after it bounced after setting a marginal new low for the year near MXN18.51 Wednesday. It reached around MXN18.8530 yesterday before stabilizing. It was the largest dollar gain in nearly three weeks. The greenback has been sold into the bounce and is trading around MXN18.73-75 now. A close below the MXN18.68 area would neutralize the constructive US dollar's technical tone. The Brazilian real's price action was similar even if less dramatic. The US dollar was sold to a new low for the year on Wednesday (~BRL5.38) but settled a little above Tuesday's close. Dollar buying yesterday lifted it to almost BRL5.4250. This week's high, set Monday, was near BRL5.46. Disclaimer

A morning soundbite from Treasury Secretary Scott Bessent briefly rattled Bitcoin and crypto markets on Thursday before a late-day clarification restored the policy baseline: the United States won’t be sellers, and “budget-neutral” options to grow the country’s bitcoin stockpile remain on the table. Senator Cynthia Lummis swiftly framed the endpoint. “America needs the BITCOIN Act,” she wrote, calling the legislation the operative blueprint for expanding a Strategic Bitcoin Reserve without tapping taxpayers. In a Fox Business hit that ricocheted across X, Bessent said the government is “not going to be buying” additional bitcoin and added, “We’re going to stop selling that,” referencing a reserve he valued between $15 billion and $20 billion. Markets faded into the statement; by mid-day, bitcoin was off roughly 3.7%. The point that stuck—“we’re not going to be buying”—was clipped and shared widely, but it was only half the story. Hours later, Bessent posted a clarifying note. “Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order,” he wrote. “In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.’” The course correction aligned his comments with the administration’s March directive and the policy discussion that has matured since. Bitcoin Act Is Still The Way Forward Lummis, chair of the Senate Banking Subcommittee on Digital Assets, seized the moment to underline the fiscal constraint. “Secretary Scott Bessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR. America needs the BITCOIN Act.” In a separate reply to Bessent, she added: “I have a ₿ill for that.” Her posts also flagged ongoing work “with Scott Bessent & Howard Lutnick to identify budget-neutral ways to continue growing our bitcoin reserve & outpacing adversaries in the race.” The legal and administrative scaffolding for a Strategic Bitcoin Reserve was set five months ago. On March 6, President Trump signed an executive order creating the SBR and a separate US Digital Asset Stockpile, directing agencies to capitalize the reserve with Bitcoin “finally forfeited” to the government and to develop budget-neutral strategies for further acquisition. Lummis’s “BITCOIN Act” would take that framework from executive policy to statute and goes considerably further. The latest text lays out a five-year purchase program authorizing up to 200,000 BTC per year—1,000,000 BTC in total—paired with a 20-year minimum holding period and a quarterly, public cryptographic proof-of-reserves regime. Where Bessent’s remarks intersect—and diverge—with that legislative ambition is gold. In March, he downplayed a formal revaluation of US gold as a credible budget lever, even as the broader policy conversation around the asset side of the federal balance sheet intensified. On Thursday, Bessent told Fox Business that a gold revaluation is “unlikely.” Lummis, by contrast, is explicitly proposing to mark gold to market in order to seed the SBR without new borrowing—an idea that has migrated from think-piece fodder to bill text but still faces macro, legal, and central-bank-independence scrutiny. The bottom line is that Thursday did not mark a policy reversal so much as a restatement of sequencing. The executive branch will build the Strategic Bitcoin Reserve first with finally forfeited coins and, per Bessent’s clarification, is actively evaluating budget-neutral ways to expand it. At press time, BTC traded at $118,751.

Remember the gold price reset talk from earlier this year? It’s back. In February, U.S. Treasury Secretary Scott Bessent said, “We’re going to monetize the asset side of the U.S. balance sheet,” which triggered a wave of speculation about what valuing gold at the current market price could mean. Now, a brand new Federal Reserve report issued on August 1 reignited that speculation. You probably know the United States of America owns a huge amount of gold bullion—over 261 million troy ounces stored in vaults at Fort Knox, West Point, and the Denver Mint. Officially, our nation values our total gold reserve at around $11 billion. But, that’s at the 1930s official gold price of $42.22 an ounce—a far cry from the $3,300 an ounce at today’s market prices. If the government marked our gold reserves at today’s market prices, suddenly our gold reserves would be worth around $861 billion. What if the government marked gold prices at $8,000 an ounce? Suddenly, our gold reserves are worth $2.1 trillion. Why would the government do this? It’s a method to increase the federal balance sheet through an accounting adjustment – that suddenly creates new money for the government to spend, without outright money printing. Call it a technical accounting update, and presto, the government has more money on its books without raising taxes or cutting spending. This could be achieved fairly simply by Executive Order, no act of Congress needed. One of the benefits of gold revaluation for the government is that it would instantly add money into the U.S. financial system without having to issue new Treasury bills, notes or bonds. For politicians struggling over the deficit, it would mean the Treasury has more money to pay the government’s bills, as the revaluation would, in a sense, create new money out of thin air. The August Fed report, called: Official Reserve Revaluations: The International Experience reveals that economists at our nation’s central bank are seriously studying the gold price revaluation question. “With public debt at high levels, some governments have begun to explore financing additional expenditures without raising taxes while also not increasing public debt outstanding,” the Fed report said. “One possibility is using proceeds from valuation gains on gold reserves, as has been floated in the U.S. and Belgium recently. For the U.S., this would involve revaluing the government’s 261.5 million troy ounces in gold reserves—the largest gold reserves globally— from a statutory price of $42.22 per troy ounce to current market prices, which stand around $3300 per troy ounce.” In the research note, the Federal Reserve analyzes the five times in the past 30 years that nations revalued their gold and foreign exchange reserves to realize gains. This was done in Germany, Italy, Lebanon, Curacao and Saint Martin, and South Africa, the Fed said. In one of the cases in Lebanon in December 2002, their central bank transferred unrealized profits on its gold and foreign exchange reserves to the central government. The proceeds were used to retire $1.8 billion of treasury bills, equivalent to around 11 percent of Lebanon’s GDP at the time. While the Fed report doesn’t offer a conclusion, the study appears to reveal that the revaluation of even a significant portion of a country’s gold reserves delivers only a one-time boost to the balance sheet of either the central bank or the central government. What could a revaluation mean for the price of gold? It would likely spike higher. Under Basel III, after the post-2008 reforms, monetary gold is now considered a Tier 1 asset, which means it is as good as cash on bank balance sheets. That means that a revalued gold price would also be a big boost and strengthen the banking sector’s capital positions. A gold revaluation is expected to result in a further relative decline in the purchasing power of fiat currencies. Some on Wall Street warn this would be an inflationary move. Will the government revalue gold? It’s an open question. With debt-to-GDP ratios climbing into uncharted territory, something will need to change. It’s just one more reason that central banks, wealthy individuals, family offices and pension funds are buying physical gold today—it’s the ultimate form of wealth protection. Image by Planet Volumes The post Fed Report Reignites Talk of Gold Price Reset appeared first on Blanchard and Company.

Remember the gold price reset talk from earlier this year? It’s back. In February, U.S. Treasury Secretary Scott Bessent said, “We’re going to monetize the asset side of the U.S. balance sheet,” which triggered a wave of speculation about what valuing gold at the current market price could mean. Now, a brand new Federal Reserve report issued on August 1 reignited that speculation. You probably know the United States of America owns a huge amount of gold bullion—over 261 million troy ounces stored in vaults at Fort Knox, West Point, and the Denver Mint. Officially, our nation values our total gold reserve at around $11 billion. But, that’s at the 1930s official gold price of $42.22 an ounce—a far cry from the $3,300 an ounce at today’s market prices. If the government marked our gold reserves at today’s market prices, suddenly our gold reserves would be worth around $861 billion. What if the government marked gold prices at $8,000 an ounce? Suddenly, our gold reserves are worth $2.1 trillion. Why would the government do this? It’s a method to increase the federal balance sheet through an accounting adjustment – that suddenly creates new money for the government to spend, without outright money printing. Call it a technical accounting update, and presto, the government has more money on its books without raising taxes or cutting spending. This could be achieved fairly simply by Executive Order, no act of Congress needed. One of the benefits of gold revaluation for the government is that it would instantly add money into the U.S. financial system without having to issue new Treasury bills, notes or bonds. For politicians struggling over the deficit, it would mean the Treasury has more money to pay the government’s bills, as the revaluation would, in a sense, create new money out of thin air. The August Fed report, called: Official Reserve Revaluations: The International Experience reveals that economists at our nation’s central bank are seriously studying the gold price revaluation question. “With public debt at high levels, some governments have begun to explore financing additional expenditures without raising taxes while also not increasing public debt outstanding,” the Fed report said. “One possibility is using proceeds from valuation gains on gold reserves, as has been floated in the U.S. and Belgium recently. For the U.S., this would involve revaluing the government’s 261.5 million troy ounces in gold reserves—the largest gold reserves globally— from a statutory price of $42.22 per troy ounce to current market prices, which stand around $3300 per troy ounce.” In the research note, the Federal Reserve analyzes the five times in the past 30 years that nations revalued their gold and foreign exchange reserves to realize gains. This was done in Germany, Italy, Lebanon, Curacao and Saint Martin, and South Africa, the Fed said. In one of the cases in Lebanon in December 2002, their central bank transferred unrealized profits on its gold and foreign exchange reserves to the central government. The proceeds were used to retire $1.8 billion of treasury bills, equivalent to around 11 percent of Lebanon’s GDP at the time. While the Fed report doesn’t offer a conclusion, the study appears to reveal that the revaluation of even a significant portion of a country’s gold reserves delivers only a one-time boost to the balance sheet of either the central bank or the central government. What could a revaluation mean for the price of gold? It would likely spike higher. Under Basel III, after the post-2008 reforms, monetary gold is now considered a Tier 1 asset, which means it is as good as cash on bank balance sheets. That means that a revalued gold price would also be a big boost and strengthen the banking sector’s capital positions. A gold revaluation is expected to result in a further relative decline in the purchasing power of fiat currencies. Some on Wall Street warn this would be an inflationary move. Will the government revalue gold? It’s an open question. With debt-to-GDP ratios climbing into uncharted territory, something will need to change. It’s just one more reason that central banks, wealthy individuals, family offices and pension funds are buying physical gold today—it’s the ultimate form of wealth protection. Image by Planet Volumes The post Fed Report Reignites Talk of Gold Price Reset appeared first on Blanchard and Company.

The Ethereum price has struggled to keep up with the rapid acceleration of Bitcoin over the years, failing to put in a new all-time high despite Bitcoin crossing $120,000. However, with a turn toward altcoins, Ethereum has quickly become the center of attention, especially after ETH crossed the $4,000 level. Now, as interest balloons, expectations for how high the Ethereum price could go have expanded, with many expecting 5-figures soon. Why Ethereum Price Is Headed For $15,00 In an X (formerly Twitter) post, popular crypto analyst Rekt Fencer predicted that the Ethereum price was “programmed” to reach the $15,000 mark. As for why he believes that the altcoin would climb this high, he highlights five major developments that will be the defining trigger for the Ethereum price to reach $15,000. The first thing on the list is the fact that ETH buying has been ramping up among institutions lately. For example, Ethereum treasury companies have sprung up in the last year, with the likes of Bitmine and SharpLink leading the charge. With ETH quickly becoming the cryptocurrency of choice for these large investors, over $10 billion worth of ETH has been bought by these companies in less than three years. Next on the list is the fact that US President Donald Trump is a major Ethereum holder. The president, who is hailed as the first pro-crypto president of the United States, currently holds over $500 million worth of ETH. This means that the majority of the president’s crypto wealth is actually in Ethereum. Another major factor driving up the value of the Ethereum price is the heightened interest in Spot Ethereum ETFs. As buying of Spot Ethereum ETFs has ramped up, so have their total holdings. According to data from the CoinMarketCap website, Spot ETH ETF issuers now control a whopping $19 billion in AUM, which translates to 3.76% of the total Ethereum market cap. Fourth on the list is the proliferation of pro-crypto laws such as the GENIUS Act that was passed this month. This has made it easier for institutional investors to move into Ethereum and driven up buying during this time. Then the fifth point is the fact that staking for Spot Ethereum ETFs is coming. While this is yet to be approved, there have been multiple filings by Spot Ethereum ETFs to allow ETH staking for the funds. This means that if this is approved, then these funds would end up locking a large number of their ETH holdings in order to enjoy yield from staking.

The crypto market is actually doing well today. Bitcoin is closer to its all-time high than $100k, while Ethereum is hovering above $4.5K. And some are asking, “Why did crypto crash today?” Although, there was some turbulence like hotter-than-expected US PPI data at 3.3% year-over-year which brought fears of delayed Fed’s rate cuts, the total crypto market cap is still at above $4 trillion. Bitcoin has fallen by more than 3% to around $119K, while over $860 million in long positions were liquidated in 24 hours. Yet, some altcoins showed resilience, showing that the bull run is far from over. (Source) Why Did Crypto Crash Today? Nope, Crypto Is Having A Healthy Correction Meme tokens dropped by 8%, a big correction, but capital rotated into resilient alternatives as Bitcoin dominance is still under 60%. XRP dropped by 6% to $3.1, a healthy pullback after it ran to its $3.66 ATH. Besides, its trading volume also jumped by more than 200% earlier, showing that interest in Ripple remains. XLM, on the other hand, went to $0.45, down 5% this past 7 days week after a 16% gain last week. Both XLM and XRP are experiencing healthy corrections. XRPPriceMarket CapXRP$184.95B24h7d30d1yAll time DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 However, not every coin is experiencing a dip; Ethereum pumped by 2.5% this week to $4,600, boosted by $5.5 billion in July ETF inflows. Adding to the buy pressure, there was a big institutional buys exceeding 2 million ETH since June. With some saying that Ethereum is the new Bitcoin. Solana climbed almost 5% to $200, which happened while PUMP was sucking most of the SOL liquidity. ETF speculation, apart from it being a degen paradise, has it aiming for a new all-time high with a $300 target. Cardano bumped by 10% this week to above one dollar mark, although its correcting as well. ADA has experienced a 110% nudge in derivatives volume, and is now targeting $1.15. These all show an emerging altcoin season, where Ethereum’s institutional buying, Solana as a degen home, and Cardano momentum draw flows from Bitcoin. The next CPI data will likely force a rebound; the dip is a short-term macro pressure. So, why did crypto crash today? Well, today is an antic before a bigger leap. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates 3 hours ago Will Mantle Win The Ethereum L-2 War? By Akiyama Felix Mantle price has crazily pumped by 55% in the past month, climbing from a low 70cents to above $1. MNT, the Mantle coin, is interesting as it coils near resistance at $1.1 and has a volume spike by over 200% in the past days. It was unexpected to see Mantle pumps, but its 2.0’s modular upgrades and a rumor of its treasury concentration have been fueling the current rally. Will Mantle 2.0 tech win the war of Ethereum layer-2s? (Source) Read the full story here. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 5 hours ago SEI Is Outpacing BASE In Crypto Transactions!! By Akiyama Felix Crypto project SEI is leaving Coinbase’s Base in the dust, flexing faster speed, bigger adoptions gains, and surging stablecoin flows. Now it’s facing biggest challenge yet: is it going to smash through the $0.4 resistance wall. Backed by record-breaking transactions, native USDC growth, and DEX volume highs, SEI’s momentum is undeniable. Traders are watching closely as the chart flashes bullish patterns and network fundamentals signal a possible explosive move ahead. Read the full story here. The post [LIVE] Why Did Crypto Crash Today? XRP and XLM Falling, ETH, SOL, ADA Skyrocketing appeared first on 99Bitcoins.

EUR/CHF continues to lag its major peer, EUR/USD. Since the May 2025 low, EUR/USD has surged 5.6%, while EUR/CHF has barely budged, posting just a 1.2% gain, highlighting the cross’s relative weakness in recent months. Interestingly, several technical elements are now flashing signs of a potential medium-term (1to 3 weeks) bullish movement for the EUR/CHF as a catch-up tactical play. Let’s dive deeper into it from a technical analysis perspective. Fig. 1: EUR/CHF major & medium-term trends as of 15 Aug 2025 (Source: TradingView) Fig. 2: Long-term secular trends of EUR/CHF & ratio of Euro Stoxx 50 ETF/MSCI All Country World Index ETF as of 14 Aug 2025 (Source: TradingView) Preferred trend bias (1-3 weeks) Bullish bias above 0.9360 key medium-term pivotal support (also the intersection points of the 20-day and 50-day moving averages), and clearance above 0.9445 sees the next medium-term resistance coming in at 0.9640 (neckline of the “Double Bottom”) in the first step (see Fig. 1). Key elements EUR/CHF has regained upward traction, trading above its 20-, 50-, and 200-day moving averages following a -4.5% corrective decline from the 13 May 2025 high to the 11 April 2024 low. Technical structure indicates the cross may be progressing into the second upleg of a broader bullish bottoming formation that has been evolving since 3 August 2024 (see Fig.1).The daily RSI momentum indicator of the EUR/CHF remains in a medium-term bullish zone, holding above the 50 level while staying clear of overbought territory (above 70).The long-term secular trend of the EUR/CHF has a direct correlation with the ratio (relative strength) chart of the SPDR Euro Stoxx 50 over the iShares MSCI All Country World Index. The ratio chart has staged a major bullish breakout in April 2025, exiting its long-term secular bearish trend in place since April 2014 (see Fig. 2).This observation suggests that a major European stock market's outperformance (represented by the SPDR Euro Stoxx 50) against the rest of the world's stock markets is taking shape and may trigger a potentially significant bullish movement in the EUR/CHF cross pair.Alternative trend bias (1 to 3 weeks) Failure to hold at the 0.9360 support negates the bullish tone for a slide to expose 0.9300 and even the major support of 0.9230/9210. 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.

Let’s try to answer why the crypto market is down today. Yesterday, the U.S. Producer Price Index (PPI) for July rose 0.9% month-over-month and 3.3% year-over-year, far above forecasts of 0.2% and 2.5%. It was the largest monthly jump since June 2022, fueled by rising service costs in machinery wholesaling, portfolio fees, hospitality, and freight, alongside higher prices for vegetables and meat. The higher-than-expected data renewed inflation concerns, dampening hopes for a Federal Reserve rate cut and prompting traders to reassess the best crypto to buy in a more risk-off environment. Crypto markets reacted immediately. Bitcoin slid 5.88% to under $117,200, down from recent all-time highs, while Ethereum fell nearly 7%, briefly dipping below $4,500. Meme coins took the heaviest hit: PEPE, SPX6900, and Fartcoin each plunged over 10%, dragging the sector down 8.62% in 24 hours. XRP dropped 6.4% to $3.12. Over $1 billion in long positions were liquidated within an hour. (BTCUSDT) At the same time, some projects still pumped. SKALE surged nearly 48%, standing out in an otherwise red market. EXPLORE: The 12+ Hottest Crypto Presales to Buy Right Now PPI Outpaces CPI – Should Crypto Investors Worry or Hunt for the Best Crypto to Buy? CPI reflects consumer prices, while PPI measures production costs. When PPI rises faster than CPI, it pressures profit margins and signals potential inflation: typically bearish for equities. For crypto, the link is weaker. As a high-volatility, risk-on asset class, market drivers such as strong narratives, retail FOMO, and memecoin speculation can outweigh macro headwinds. In 2021, for example, PPI climbed sharply yet BTC and ETH continued a parabolic rally, supported by liquidity and institutional inflows. Bitcoin has reclaimed $118K, Ethereum is back above $4.6K, and the market mood leans toward buying yesterday’s dip. So, what are the latest crypto updates for August 15? There are no live updates available yet. Please check back soon! The post [LIVE] Latest Crypto News, August 15 – Why Is Crypto Down Today? U.S. July PPI Surges, Triggers Crypto Market Sell-Off: Best Crypto To Buy During This Dip? appeared first on 99Bitcoins.

In August, Ethereum crypto is up a massive 40%. This surge is unprecedented. At this pace, ETH USD is not only inches from break above 2021 highs but ETH crypto can easily soar to as high as $5,000 in Q3 2025. Considering all bullish events around ETHUSDT, it came as a surprise that data shows massive unstaking of previously locked ETH across different liquid staking platforms, including Lido. Latest reports shared on X show that a record 761,000 ETH worth north of $3.6 billion at spot rates has flooded the unstaking queue. Interestingly, the urgency to unstake ETH coincides with the pullback in prices, impacting some of the top Solana meme coins. ETH USD Falls From $4,750 From the ETH USD daily chart, prices fell from around $4,750 to below $4,500. Coinciding with this drop is a spike in trading volume, pointing to possible sellers standing their position, capping gains. Technically, a close above $4,800 is precisely what’s needed for ETH ▼-3.42% crypto to spike to as high as $5,000, printing a fresh all-time high. EthereumPriceMarket CapETH$551.33B24h7d30d1yAll time However, should sellers take over today, a close below $4,440 may see ETH reverse gains, with the next stop being $4,000. It is a psychological support, marking previous resistance that capped ETH bulls in July 2025. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Race to Unstake Ethereum, What’s Going On? Considering the state of ETHUSDT price action, the move by unstake could accelerate the sell-off. Being a proof-of-stake network, Ethereum relies on validators. There are over 1 million validators who have, on average, locked over 32 ETH, helping secure Ethereum and in return, earn block rewards and fees. (Source: Beachocha.in) Though at least 32 ETH is needed to run a validator node in Ethereum, there are other providers, including Lido Finance and Rocket Pool, that pool ETH from holders and stake them on the network before distributing rewards. As of August 15, Lido Finance, one of the liquid staking platform, is among the largest DeFi protocol. According to DefiLlama, the protocol manages over $41 billion of assets, mostly ETH. (Source: DefiLlama) It is now emerging that there is an urgency among ETH holders to unlock their coins from the network, mostly via liquid staking platforms, including Lido Finance. In a matter of days, the exit queue has increased from less than 2,000 ETH to over 760,000 ETH. As a result of this explosion, Ethereum’s exit mechanism, which limits validator exits per epoch. (Source: Validator Queue) Before this spike, it took roughly 6.4 minutes for a withdrawal to be processed. It now takes over 12 minutes, demonstrating the strain Ethereum is facing that risks destabilizing the network. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 Are Holders Taking Profits? Naturally, the question is: What’s all the rush to withdraw? Considering this wave, industry experts are convinced that ETH holders are keen on taking profits and cashing in on the rally. ETH has, for month, underperformed versus Bitcoin and other best cryptos to buy, including Solana and Cardano in previous bull cycles. With ETH USD prices booming, those who HODL ETH see this as a chance to lock in profits. Provided prices remain above $4,000, there is a strong incentive to realize gains. DISCOVER: 20+ Next Crypto to Explode in 2025 Blame Aave? There is also another possibility that DeFi investors, especially on lending protocols like Aave, are deleveraging. Experts note that from mid-July, ETH borrow rates on decentralized money markets, mostly Aave, rose from less than 3% to over 18% in matter of days. As a result, users who wanted to borrow ETH and restake them had no economic incentive to do so because the borrow rate was high yet ETH mainnet yields were lower. Because this loophole was sealed, it triggered a cascade of ETH position unwinds, impacting even Justin Sun who had to withdraw $600 million worth of ETH from Aave. For now, Aave ETH borrow rates have stabilized below 3% but it hasn’t stopped validators from unstaking. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Ethereum Validators Unstake Over $3 Billion, ETH USD Falls Ethereum holders scrambling to unstake ETH USD drops from $4,750 Urgency to unstake could be due to profit taking Experts also point to possible DeFi deleveraging The post Ethereum Validators Unstake Over $3.6 Billion, ETH USD Falls: What’s Going On? appeared first on 99Bitcoins.

After hitting a new multi-month high, Cardano (ADA) has retraced alongside the rest of the market. Some analysts suggest that the cryptocurrency is ready to reclaim crucial resistance levels and hit new highs in the coming months. Cardano Holds Crucial Support Despite Pullback On Thursday, Cardano experienced an 11% drop after surpassing the $1.00 barrier for the first time since March. ADA’s retracement was fueled by the crypto market’s pullback, which saw massive liquidations throughout the day. According to CoinGlass data, the crypto market saw over $1.05 billion in liquidations over the last 24 hours, driven by higher-than-expected macroeconomic signals. Notably, the PPI number revealed an annual headline inflation of 3.3%, way higher than the 2.5% forecast. Additionally, the US Treasury Secretary Scott Bessent revealed that the US government will not be purchasing additional Bitcoin for its Strategic Bitcoin Reserve (SBR), established by President Trump in March 2025. Instead, the US will stop selling its BTC holdings and continue to build up the reserve’s stash through confiscated assets. As a result, Bitcoin, which hit a new all-time high (ATH) of $124,128 on Wednesday night, retraced to the $117,000-$118,000 support zone, while the rest of the market turned red. Nonetheless, Cardano has gone against the current, becoming the only cryptocurrency in the top 50 list to remain in green despite the broader market pullback, with a 3.5% increase in the daily timeframe. In the last 24 hours, ADA has broken out of its local range, hitting a five-month high of $1.02 on Thursday morning. Amid the market drop, ADA held above its breakout level, hovering between the $0.89-$0.91 range over the past few hours, and it’s attempting to break out of its current levels. ADA To Repeat Last Cycle’s Playbook? Analyst Ali Martinez noted that ADA has been trading within a descending channel since the Q4 2024 rally, which saw the cryptocurrency hit its multi-year high of $1.32 in December. During this period, Cardano has attempted to break out of the descending resistance twice, finally passing this barrier after surging above the $0.84 mark. To the analyst, a confirmed breakout from this level targets a 70% run to $1.50. Previously, Martinez suggested that ADA is showing the same price structure as the last cycle, but it’s more gradual. Other analysts have also noted that the altcoin appears to be repeating its 2020-2021 playbook. Crypto Yhodda highlighted that after hitting its 2018 high, Cardano saw an ABC corrective wave before consolidating within an ascending broadening wedge formation for two years. The cryptocurrency consolidated near the range-high after rejection from the pattern’s resistance in 2020, and before breaking out to its 2021 ATH of $3.09. This cycle, the altcoin has repeated the same movements, accumulating within the same pattern since 2022. Since being rejected from the ascending resistance in late 2024, ADA has been trading between the mid and high zones of this pattern. To the analyst, Cardano is ready to climb again to the formation’s resistance, around the $1.80 area, and break out to new highs. As of this writing, ADA is trading at $0.90, a 20% increase in the weekly timeframe.