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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.

Asia Market Wrap - Japan, China Data, Stocks Steady Most Read: Ripple (XRP/USD) Falls 6% on Manipulation Fears, Liquidations Surge. Will the $3.00 Support Hold? Hong Kong stocks fell 1.2% after data showed China’s economy slowed in July, with weak factory activity and retail sales. This suggests Donald Trump’s trade war is affecting the world’s second-largest economy. Meanwhile, Japanese stocks rose 1% as the country’s economy grew faster than expected last quarter. MSCI's broad Asia-Pacific index (outside Japan) dropped 0.2%. Japan's Nikkei 225 bounced back 1.6%, nearing a record high after a big drop on Thursday, which ended its six-day winning streak. Australian stocks rose 0.7%, while Hong Kong stocks fell 1.1%. China's CSI 300 index went up 0.8% after weaker-than-expected July economic data, like retail sales and industrial production, raised hopes for new government stimulus. Markets in India and South Korea are closed for holidays. Earlier, hopes for US monetary easing had boosted market confidence, with traders expecting a quarter-point rate cut. However, US wholesale inflation rose in July at its fastest pace in three years, causing traders to lower the chances of a September rate cut to 90%, down from being fully certain before. For more on the Hang Seng Index, read Hang Seng Index Technical: End of minor corrective decline, start of new bullish impulsive up move Japan GDP Posts Upside Surprise Japan's economy grew faster than expected in the second quarter, with GDP rising 1.0% annually, marking five straight quarters of growth. This was supported by strong exports and capital spending, despite US tariffs. The growth beat market expectations of 0.4% and followed a revised 0.6% rise in the previous quarter. Source: LSEG However, analysts warn that US tariffs and global uncertainties could hurt Japan's economy in the coming months, especially for automakers trying to keep prices low for US customers. China Data Disappoints as Factory Output and Retail Sales Slump China's factory output growth hit an eight-month low in July, and retail sales slowed sharply, increasing pressure on policymakers to boost the $19 trillion economy with more stimulus. Challenges include US trade policies, extreme weather, tough domestic competition, and a weak property sector. Industrial output grew 5.7% in July, down from 6.8% in June and below the 5.9% forecast. Retail sales rose 3.7%, the slowest since December 2024, missing the expected 4.6% increase. Source: LSEG European Open - European Indexes Higher Ahead Trump-Putin Meeting Heading into the European Open, Pan-region futures rose 0.5%, German DAX futures increased 0.5%, and FTSE futures also gained 0.5%. Investors are keeping a close eye on US President Donald Trump's meeting with Russia's Vladimir Putin on Friday, aimed at ending the war in Ukraine. There’s concern about how long any agreement might last, and European leaders worry the US and Russia could make big decisions that leave them out or pressure Ukraine into a bad deal. If the Trump-Putin Alaska summit gets positive feedback, European stocks are likely to see a boost. The details matter, and Europe is unlikely to fully welcome Russia, even if peace is restored. This means defense stocks might slow down their steady rise but won’t face major setbacks. On the FX front, The euro and British pound stayed mostly unchanged after dropping 0.5% and 0.3% in the previous session, ahead of US retail sales data. The Japanese yen strengthened thanks to surprisingly strong economic growth, with exports holding up well against new US tariffs. The Australian dollar remained steady, while the Chinese yuan fell from a two-week high due to weaker-than-expected economic data. Currency Power Balance Source: OANDA Labs For more on Gold, please read Gold's (XAU/USD) Recovers to $3350/oz After Mixed CPI Reaction. What Next? Economic Data Releases and Final Thoughts Looking at the economic calendar, a busy day lies ahead. Geopolitics will be in the news as the Trump-Putin meeting gets underway while we also have the Jackson Hole Symposium where all eyes will be on Fed Chair Jerome Powell. From a data perspective, the US session brings retail sales numbers will give a glimpse to consumer demand but the bigger one could be the Michigan Consumer Sentiment data. It will be interesting to see where survey respondents see inflation expectations over the 12 months in particular. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - DAX Index From a technical standpoint, the DAX index has continued to advance following yesterdays breakout. For a more in-depth look at the technical analysis picture, please read DAX 30 Technical Outlook: Breakout Has 400 Point Potential DAX Index Two-Hour Chart, August 15. 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.

TRON (TRX) has maintained upward momentum alongside broader cryptocurrency market gains over recent weeks. The token recorded a nearly 6% rise in the past week, briefly reaching $0.369 before easing to $0.3589 at the time of writing. While price action remains within a tight range, network fundamentals suggest continued high usage, particularly driven by stablecoin transfers. TRON Stablecoin Demand and Market Liquidity Data from the on-chain analytics platform CryptoQuant highlights that TRON has now processed more than 11.1 billion transactions in its lifetime, reflecting sustained growth since the start of the year. In 2024, the network closed with about 9.3 billion total transactions, meaning roughly 1.8 billion have been added so far in 2025. Current activity averages between 7–9 million transactions daily, with peaks near 10 million, well above the levels recorded in early 2024. Much of this activity is attributed to USDT/TRC-20 transfers, favored for their low fees and rapid confirmation times, positioning TRON as a widely used infrastructure for payments and fund transfers between wallets and exchanges. According to CryptoQuant contributor Arab Chain, the growth in TRON’s transaction volume is more than just a technical statistic; it directly influences market liquidity. “The current momentum in transaction volumes enhances liquidity and facilitates the movement of funds into derivatives trading, supporting bullish scenarios when sentiment is positive,” the analyst noted. From early May to mid-August, the network processed approximately 860 million transactions, highlighting a consistent flow of capital across TRON’s ecosystem. This steady throughput has created conditions for efficient capital rotation between spot and derivatives markets, particularly on larger exchanges. The ability to handle high activity without significant fee increases also indicates broad and organic demand, rather than short-lived speculative surges. TRON’s role as a major settlement layer for stablecoin transfers means it continues to act as a backbone for exchange and cross-border activity in the crypto market. Technical Indicators and Potential Price Scenarios Complementing the on-chain data, CryptoQuant analyst BorisVest pointed to TRON’s recent price behavior relative to technical patterns. At its current price of around $0.36, TRX has moved above the upper Bollinger Band, suggesting a phase of stronger momentum. While this could indicate the potential for further gains if buying pressure persists, the analyst cautioned that overextension often raises the risk of near-term pullbacks. If market momentum stalls, a retracement could present entry opportunities for long-term positions. On the other hand, if transaction activity and USDT flows remain strong while market sentiment holds, TRX could sustain its current trend. Historical data from other large-cap tokens suggests that a combination of high network utility, stablecoin integration, and sustained liquidity often supports prolonged uptrends, though the balance between retail activity and large-holder behavior will remain a determining factor. As TRON continues to process millions of transactions daily and maintain deep integration with stablecoin flows, its role in crypto market infrastructure appears secure. However, price performance in the short term will likely depend on how this usage aligns with broader market sentiment and technical support levels. Featured image created with DALL-E, Chart from TradingView

The stablecoin and tokenization sectors are experiencing a significant resurgence, fueled by pro-crypto regulations introduced by the Trump administration. As a result, experts believe that decentralized oracle network, Chainlink (LINK), is poised to reap substantial benefits from these progressive developments. Is Chainlink Crypto’s Overlooked Gem? Market expert Miles Deutscher recently highlighted that LINK may be the most promising large-cap investment opportunity this cycle, despite the possibility that many investors could overlook it. In a social media post on X (formerly Twitter), the expert asserted that Chainlink is uniquely positioned to benefit from the “institutionalization of cryptocurrency” and the explosive growth of stablecoins, tokenization, and real-world assets (RWAs). Notably, the total value locked (TVL) in RWAs has surged thirteenfold in just two years, climbing from approximately $1 billion to over $13 billion as institutions increasingly recognize the limitations of the traditional SWIFT payment system. In response, major financial players like asset manager and crypto exchange-traded fund (ETF) issuer, BlackRock, are advocating for tokenization, while companies such as Stripe and Circle (CRCL) are now exploring the development of their own blockchain solutions. In this environment, Chainlink serves as a crucial “universal translator.” According to Deutscher, each tokenized stock, bond, or piece of real estate requires an oracle to accurately reflect its value on-chain, and Chainlink dominates this space, controlling 84% of the oracle market. The Feedback Loop Driving LINK’s Success The Chainlink network generates revenue through two primary channels: on-chain fees for services used across various blockchain networks, and partnerships with large corporations that pay for Chainlink’s solutions. This revenue model supports its operations and facilitates buybacks of LINK tokens, further enhancing the network’s sustainability. Moreover, Chainlink’s protocol automatically converts all revenues—whether in Ethereum (ETH) or Circle’s USDC stablecoin—from corporate partnerships into LINK tokens on the open market, depositing them into a strategic treasury. This mechanism not only strengthens the network’s financial foundation but also creates a persistent supply sink as users stake LINK to secure the network, earning a sustainable yield of approximately 4.32%. Deutscher emphasizes that this dynamic creates a powerful feedback loop: increased adoption leads to higher revenues, which in turn results in more LINK purchased and locked, enhancing network security and utility. In his analysis, Deutscher also drew comparisons between LINK and XRP, arguing that LINK has gained more traction within institutional circles than XRP, making it a more logical investment given its current valuation. For context, the total value secured by Chainlink stands at an impressive $84.65 billion, dwarfing XRP’s decentralized finance (DeFi) total value locked of approximately $85 million. Despite this disparity, XRP’s market cap is roughly twelve times larger than LINK’s, which Deutscher believes highlights LINK’s potential value at current levels. From a pricing perspective, Chainlink has recently broken above the $20 weekly resistance level, currently trading at $22.This is likened to Ethereum’s pivotal $4,000 level, indicating a potential upward trajectory for LINK in the coming months. Featured image from DALL-E, chart from TradingView.com

Solana started a fresh increase above the $185 zone. SOL price is now consolidating above $190 and might aim for more gains above the $200 zone. SOL price started a fresh upward move above the $185 and $192 levels against the US Dollar. The price is now trading above $190 and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $202 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $198 resistance zone. Solana Price Aims For Fresh Increase Solana price started a decent increase after it found support near the $185 zone, like Bitcoin and Ethereum. SOL climbed above the $192 level to enter a short-term positive zone. The price even smashed the $200 resistance. The bulls were able to push the price above the $202 barrier. A high was formed at $210 and the price recently corrected gains below the 23.6% Fib retracement level of the upward move from the $174 swing low to the $210 high. There was a break below a bullish trend line with support at $202 on the hourly chart of the SOL/USD pair. However, the bulls were active near the $188 level and the 61.8% Fib retracement level of the upward move from the $174 swing low to the $210 high. Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $198 level. The next major resistance is near the $200 level. The main resistance could be $202. A successful close above the $202 resistance zone could set the pace for another steady increase. The next key resistance is $210. Any more gains might send the price toward the $220 level. Another Decline In SOL? If SOL fails to rise above the $200 resistance, it could start another decline. Initial support on the downside is near the $192 zone. The first major support is near the $188 level. A break below the $188 level might send the price toward the $180 support zone. If there is a close below the $180 support, the price could decline toward the $175 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $192 and $188. Major Resistance Levels – $200 and $210.

On-chain data shows the Dogecoin whales have gone on a buying spree recently, a sign that could be bullish for the memecoin’s price. Dogecoin Whales Have Accumulated During The Past Week In a new post on X, analyst Ali Martinez has talked about the latest trend in the holdings of the Dogecoin whales. The metric shared by the analyst is the “Supply Distribution” from on-chain analytics firm Santiment, which tells us about the total amount of DOGE supply that a particular wallet group is holding right now. Addresses or investors are put into these cohorts based on the number of tokens that they are carrying in their balance. All wallets with 5 coins, for example, are placed into the 1 to 10 coins range. In the context of the current topic, the whales are the investors of interest. These entities are typically defined as holding between 100 million and 1 billion DOGE. At the current exchange rate, the former converts to $22.4 million and the latter to $224 million. Clearly, the only holders who would qualify for the group would be the big-money traders. As such, the holdings of these investors can be worth keeping an eye on, as if nothing else, shifts in the cohort can provide information about the sentiment among the network’s influential beings. Now, here is a chart that shows the the trend in the Dogecoin Supply Distribution for the whales over the last month and a half: As displayed in the above graph, the 100 million to 1 billion Dogecoin range has seen its Supply Distribution go through a rise recently, indicating that members of the group have been participating in net accumulation. In total, the whales have added 2 billion DOGE (worth $448 million) to their holdings over the past week. This is a notable amount and suggests that the large investors are expecting the cryptocurrency to go up from here. It only remains to be seen, however, whether this accumulation would pay off for them. Alongside the buying, the cohort has also ramped up transaction activity, as Martinez has pointed out in another X post. The indicator shown in the chart is the “Whale Transaction Count,” which measures the total number of transfers occurring on the Dogecoin blockchain that involve a sum greater than $1 million. From the graph, it’s apparent that the metric has just seen a huge spike, a sign that big-money holders are on the move. DOGE Price Dogecoin has suffered a blow of 8% during the past day that has brought its price to $0.22

XRP price is down over 6% from the $3.350 resistance zone. The price is holding the $3.020 support and might aim to start a fresh increase. XRP price is attempting a fresh increase from the $3.020 zone. The price is now trading below $3.20 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3.280 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could regain bullish momentum if it clears the $3.150 zone. XRP Price Dips To Support XRP price attempted more gains above the $3.30 zone, like Bitcoin and Ethereum. The price tested the $3.35 level and failed to extend gains. A high was formed at $3.35 and the price started a downside correction. There was a break below a key bullish trend line with support at $3.280 on the hourly chart of the XRP/USD pair. The pair dipped below the $3.250 and $3.150 support levels. Finally, it tested the $3.020 support zone. A low was formed at $3.031 and the price is now recovering toward the 23.6% Fib retracement level of the downward move from the $3.350 swing high to the $3.031 low. The price is now trading below $3.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.10 level. The first major resistance is near the $3.150 level. A clear move above the $3.150 resistance might send the price toward the $3.20 resistance. Any more gains might send the price toward the $3.250 resistance or even $3.2650 in the near term. The next major hurdle for the bulls might be near $3.30. Another Decline? If XRP fails to clear the $3.150 resistance zone, it could start a fresh decline. Initial support on the downside is near the $3.050 level. The next major support is near the $3.020 level. If there is a downside break and a close below the $3.020 level, the price might continue to decline toward the $3.00 support. The next major support sits near the $2.880 zone, below which there could be a larger decline. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $3.050 and $3.020. Major Resistance Levels – $3.150 and $3.20.

Bitcoin briefly set a new all-time high above $124,000 earlier today before experiencing a sharp retracement that brought the asset back below the $120,000 level. As of press time, BTC is trading at $118,336, representing a weekly loss of 1.9% and a 4.5% decline from its peak. The price shift comes amid notable on-chain developments that have caught the attention of market analysts. According to CryptoQuant contributor CryptoOnchain, the Bitcoin Exchange Whale Ratio across all exchanges has risen above 0.50, a level historically associated with higher short-term volatility. This ratio measures the proportion of BTC inflows to exchanges originating from large holders, often signaling potential market-moving activity. Despite this, aggregated data across all exchanges shows negative net flows, meaning more BTC is leaving exchanges than entering, which typically aligns with accumulation phases. Bitcoin Binance Activity Diverges From Broader Market Trends While overall exchange flows suggest accumulation, Binance has seen a contrasting pattern. Data from CryptoOnchain shows Binance recorded its largest single-day positive net flow in the past 12 months, indicating a concentration of BTC inflows to the platform. Such divergences, when high whale ratios coincide with significant inflows to one exchange, have historically preceded both sharp sell-offs and leveraged short squeezes, depending on whether the inflows are directed toward spot selling or derivatives trading. This activity has been accompanied by a surge in Binance’s BTC spot trading volume, which reached $7 billion in a single day, according to a separate analysis by Amr Taha of CryptoQuant. The spike in volume may reflect a shift in trader positioning, potentially influenced by institutional trades or broader macroeconomic factors. Additionally, short-term holder (STH) inflows to Binance have crossed the 0.4 threshold on the Spent Output Age Bands metric, a level often associated with retail-driven sell activity. Historically, retail participants have tended to sell into strength during bullish market phases, providing liquidity for more sophisticated traders. Whale Behavior Points to Lower Immediate Selling Pressure In contrast to heightened retail activity, the inflows from large holders, categorized as whales (1,000–10,000 BTC) and humpbacks, remain relatively low. Current whale inflows stand at 1,170 BTC, significantly below the 14,610 BTC recorded on July 19, which coincided with a notable price drop. The absence of similar large-scale selling now suggests a reduction in immediate downside risk, though market conditions remain dependent on other factors such as derivatives positioning and macroeconomic developments. The interaction between whale behavior, retail participation, and exchange-specific flows highlights the current complexity of Bitcoin’s market structure. While the broader trend of net outflows from exchanges supports a longer-term bullish outlook, the elevated whale ratio and concentrated inflows to Binance increase the likelihood of short-term volatility. Analysts recommend close monitoring of Binance’s order book, open interest, and funding rates over the coming sessions to better understand potential price direction. With Bitcoin hovering just below the $120,000 mark, the next few trading days will be critical in determining whether the market stabilizes or sees further corrective moves. Featured image created with DALL-E, Chart from TradingView

The U.S. Treasury’s Office of Foreign Assets Control has added several Kyrgyzstan-based companies to its sanctions list over their involvement with a ruble-backed stablecoin called A7A5. Authorities accuse the firms, including A7 LLC, Old Vector, and subsidiaries like A7 Agent, of helping Russia sidestep economic restrictions tied to its war in Ukraine. These companies were part of a growing crypto network that operated under the radar until now. A7A5 Stablecoin at the Center of the Investigation A7A5 is pegged to the Russian ruble and has quietly moved billions in volume. It reportedly handled over 51 billion dollars across platforms linked to Russian markets, with daily flows sometimes crossing the one billion mark. That kind of volume is hard to miss. Most of the transactions were routed through a Kyrgyz-based crypto exchange called Grinex, which many view as the follow-up act to Garantex, an earlier sanctioned exchange that was forced offline. Grinex Follows the Same Pattern as Garantex This new wave of sanctions draws a clear line between Grinex and its predecessor. Garantex had previously been caught enabling large-scale crypto payments tied to darknet markets and ransomware groups. When it was shut down, Grinex picked up the pieces and kept the system running with the help of A7A5. Now, both Grinex and the infrastructure supporting the stablecoin have landed in the Treasury’s crosshairs. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Why Kyrgyzstan Became a Key Location Kyrgyzstan might seem like an unlikely place for international crypto operations, but it has quietly become a haven for digital asset firms. Lawmakers passed a law in 2022 that created a regulatory path for virtual asset service providers, and authorities handed out more than 100 licenses shortly after. That legal framework gave platforms like A7A5 and Grinex room to grow without too much interference. For Russian entities trying to dodge financial barriers, it became an ideal spot to operate. EthereumPriceMarket CapETH$551.33B24h7d30d1yAll time Stablecoins and Sanctions Are on a Collision Course The move by OFAC adds more pressure on stablecoin issuers and crypto platforms to vet their operations. U.S. persons are now barred from doing business with any entity tied to A7A5 or its associated firms. The message is clear. Being digital doesn’t exempt financial products from regulatory scrutiny, especially when they are being used to work around geopolitical sanctions. DISCOVER: 20+ Next Crypto to Explode in 2025 Compliance in the Crypto Space Is No Longer Optional For exchanges and stablecoin operators, this action signals a growing need to take compliance seriously, even if they are based in jurisdictions with looser regulations. The days of hoping to fly under the radar are fading fast. Stronger KYC rules, transaction monitoring, and transparency may now be necessary just to stay out of trouble. This is another sign that regulators are no longer just chasing headlines. They are digging into the technical layers of stablecoin ecosystems and going after the networks that power them. Countries trying to use crypto as a backdoor for sanctioned financial flows are learning that the Treasury is watching, and it is starting to act. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways OFAC sanctioned several Kyrgyz crypto firms, including A7 LLC and Grinex, for helping Russia bypass sanctions using the ruble-pegged A7A5 stablecoin. The A7A5 stablecoin moved over $51 billion in volume, mostly through Grinex, a Kyrgyz exchange seen as Garantex’s successor. Kyrgyzstan became a key hub for crypto operations due to its 2022 law enabling virtual asset licenses, making it a workaround path for sanctioned Russian entities. The U.S. government now bans U.S. persons from interacting with A7A5-related entities, signaling tighter oversight of stablecoins linked to geopolitical risks. Global regulators are pressuring crypto firms in looser regulatory zones to adopt stricter compliance or risk being blacklisted. The post OFAC Targets Kyrgyz Crypto Firms Over Russian Stablecoin Activity appeared first on 99Bitcoins.

Ethereum price started a downside correction from the $4,780 zone. ETH is again rising from $4,480 and might attempt a steady increase. Ethereum started a fresh increase above the $4,520 and $4,550 levels. The price is trading above $4,550 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $4,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it remains supported above the $4,500 zone in the near term. Ethereum Price Dips Remains Attractive Ethereum price started a fresh increase above the $4,600 support zone, beating Bitcoin. ETH price was able to climb above the $4,650 and $4,700 resistance levels. The bulls even pushed the price above the $4,720 resistance zone. Finally, the price tested the $4,780 resistance zone. A high was formed at $4,782 and the price recently corrected gains below the 23.6% Fib retracement level of the upward move from the $4,170 swing low to the $4,782 high. However, the bulls were active near the $4,480 support. They protected the 50% Fib retracement level of the upward move from the $4,170 swing low to the $4,782 high. The price is again rising and showing positive signs. Ethereum price is now trading above $4,550 and the 100-hourly Simple Moving Average. There is also a bullish trend line forming with support at $4,500 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $4,640 level. The next key resistance is near the $4,680 level. The first major resistance is near the $4,720 level. A clear move above the $4,720 resistance might send the price toward the $4,780 resistance. An upside break above the $4,780 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,880 resistance zone or even $5,000 in the near term. Another Pullback In ETH? If Ethereum fails to clear the $4,700 resistance, it could start a downside correction. Initial support on the downside is near the $4,550 level. The first major support sits near the $4,500 zone. A clear move below the $4,500 support might push the price toward the $4,400 support. Any more losses might send the price toward the $4,315 support level in the near term. The next key support sits at $4,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $4,500 Major Resistance Level – $4,700

BtcTurk, one of Turkey’s largest cryptocurrency exchanges, has suffered a $48 million hack that targeted its hot wallets. The company initially paused crypto deposits and withdrawals, though fiat trading and lira transactions remained online. What started as a vague “technical issue” was quickly revealed to be something far more serious. Outside analysts flagged it as a multi-network attack that drained assets in a highly coordinated way. Hackers Moved Funds Across Multiple Blockchains According to independent monitoring firms, the stolen funds were quickly spread across seven different blockchains. These included Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon. Most of the assets ended up in just two wallets, and the attacker wasted no time starting the laundering process. They began swapping tokens to obscure the source, making it harder to trace and recover the funds. Cold Wallets Are Safe, but Confidence Took a Hit BtcTurk was quick to reassure customers that only hot wallets were affected. The vast majority of funds, they said, remain safe in cold storage. The exchange also confirmed that no personal user data was compromised. Still, the damage is not just financial. Many users are now questioning how secure the platform really is and whether the same could happen again. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in August2025 This Isn’t the First Time If this feels familiar, it’s because BtcTurk was hacked before. In June 2024, a separate hot wallet breach led to the loss of $55 million. That incident forced leadership changes and sparked criticism of the exchange’s internal security systems. To see a similar event unfold again just a year later raises serious questions about what has actually changed since then. BitcoinPriceMarket CapBTC$2.36T24h7d30d1yAll time A Pattern That’s Getting Hard to Ignore This isn’t just about one exchange. The crypto space has been hit with a wave of hacks this summer. In July alone, an estimated $142 million was stolen from various platforms. Add BtcTurk’s latest loss to the pile, and the total breaches this summer have already crossed $200 million. Centralized exchanges continue to be a high-value target for hackers, and the tools attackers are using keep getting more sophisticated. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 What Users Should Take From This Hot wallets are built for speed and convenience, but that speed comes with risk. They are always online, which makes them vulnerable. For users, this is another reminder to limit how much crypto they keep on exchanges and pay attention to where and how their assets are stored. It also puts pressure on platforms to be transparent about their security measures before something goes wrong. What Happens Next The attacker’s wallets are being watched closely by on-chain analysts, but there’s no guarantee the stolen funds will be recovered. BtcTurk says it is working with cybersecurity teams and legal authorities to investigate. What really matters now is whether the exchange makes lasting improvements or continues to treat these events as isolated mishaps. Security is never perfect, but repeating the same mistakes is a choice. If the crypto industry wants to grow up, it needs to treat security like infrastructure, not just an afterthought when things break. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways BtcTurk lost $48 million in a targeted hot wallet breach involving seven blockchains, highlighting a coordinated attack across networks. While cold wallets were untouched and no user data was leaked, confidence in BtcTurk’s platform took a serious hit. This marks the second major hack for BtcTurk in just over a year, raising concerns about unresolved security issues. July alone saw over $200 million in crypto hacks across exchanges, showing a rising trend in large-scale breaches. Users are reminded of the risks of storing funds in hot wallets and urged to limit holdings on centralized platforms. The post BtcTurk Loses $48 Million in Hot Wallet Breach appeared first on 99Bitcoins.