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Asia Market Wrap - Asian Shares on Course for Best Week Since June Asian stocks climbed, driven by gains in Japanese shares, as easing trade tensions with the US and strong tech earnings boosted confidence. In the Asian session the MSCI Asia Pacific Index rose 0.4%, marking its fifth straight day of gains. Japan's Nikkei-225 jumped 2.2% after news that the US agreed to stop stacking universal tariffs and reduce car taxes. SoftBank and Sony shares also rose following positive earnings. This has put Asian shares on course for their best week since June, helped by hopes of a Federal Reserve interest rate cut, despite ongoing tariff concerns. Most Read: USD/JPY Technical: Potential impending minor bullish breakout for Japanese yen American officials expressed regret that the stacking rule had been applied to Japan despite a verbal agreement, and said Washington would refund any overpaid levies, he said. No time frame was agreed for the implementation, Akazawa said after the meetings. Toyota, Honda and other carmakers jumped on the comments. Technology companies also helped the rally in Japanese stocks. European Open - Global Stocks Advance Global stocks saw a positive European open with The MSCI All-Country Index rose 0.12% for the day, staying just below record highs from two weeks ago, and is set to gain 2% this week—its best week since mid-June. Europe's STOXX 600 climbed 0.25%, driven by gains in pharma and tech stocks. Zurich's SMI Index, which ignored the impact of a 39% U.S. tariff on Thursday, rose another 0.25% on Friday morning. The markets are still digesting a Bloomberg report that Fed Governor Christopher Waller is the leading candidate to replace Jerome Powell as Fed Chair when his term ends on May 15, 2026. On the FX front, the euro fell 0.2% to $1.1648 after gaining 2.13% over the past month. Meanwhile, the dollar index, which measures the dollar against other major currencies, rose 0.2% to 98.21. The dollar also gained 0.1% against the yen, reaching 147.24. Currency Power Balance Source: OANDA Labs U.S. gold futures reached a record high after the Financial Times reported that the U.S. had placed tariffs on 1-kg gold bars, which make up most of Switzerland's gold exports to the U.S., based on a Customs and Border Protection letter. Spot gold inched up 0.1% to $3,400 an ounce, while gold futures jumped 2.3% to a record $3,477. For a full and comprehensive analysis on Gold, read Gold's (XAU/USD) Whipsaw Price Action a Sign that Bulls are Back at the Table. $3400/oz Up Next? Oil prices held steady on Friday but were set for their biggest weekly drop since late June due to concerns over the economic impact of tariffs and a possible meeting between U.S. President Trump and Russian President Putin. Brent crude rose 21 cents (0.32%) to $6.64 a barrel, while U.S. West Texas Intermediate (WTI) crude increased 18 cents (0.28%) to $64.06. For the week, Brent was on track to fall 4.3%, and WTI was set to drop 4.9% compared to last Friday's close. For a breakdown on Oil, read WTI Crude Forecast: Risk premium fades, supply pressures mount, bearish trend ahead Economic Data Releases and Final Thoughts Looking at the economic calendar, it is a quiet day for data in the EU and US. The biggest data release will be from Canada where we have employment data. Read Canada braces for weak jobs report, Canadian dollar steady Beyond that further developments on the trade deal and tariff front remain front and center. Further details around the gold tariff could filter through as well as chatter about Fed policymaker Waller being touted as the next Fed chair. All of these events could stoke volatility and need to be monitored. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - FTSE 100 Index From a technical standpoint, the FTSE 100 experienced a pullback yesterday which was in past down to the 'hawkish' rate cut by the Bank of England. Market participants saw implied rate through December 2025 drop to a low of 17.7 bps per LSEG data. The Bank of England upgraded a host of inflation metrics which helped the British Pound but weighed on UK stocks. Looking at the H2 chart below, the FTSE has found some support at the 200-day MA with a retest of the 100-day MA at 9130 looking like a real possibility. A break above this level will bring the all-time highs back into focus. The FTSE continues to be stuck in a range between the all-time highs and the 9048 support handle. A break in either direction could lead to an aggressive move. FTSE 100 Index Two-Hour Chart, August 8, 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.

Overview: Most the dollar's late sell-off yesterday after the White House endorsed Stephen Miran to fill the remainder of Governor Kugler's term at the Federal Reserve has been recouped today. In mostly narrow ranges, the greenback is firmer against the G10 currencies but the Canadian dollar and sterling. The dollar is also trading with a stronger bias against emerging market currencies. China reports its CPI and PPI figures tomorrow, and next week's US July CPI is expected to have risen for the third consecutive month. In an otherwise quiet session, the gold futures market was roiled by news that US Customs will be imposing a tariff on one -kilogram and 100-ounce gold bars, which previously were exempted. There is still much confusion, and some continue to suspect a mistake was made. In the spot market, gold is firm and probing the $3400 area. A higher close today would be the sixth in the past seven sessions. Outside of Japan and Taiwan, the large bourses in the Asia Pacific region fell today to pare this week's gains. Today's losses in India, facing a 50% tariff from the US, were sufficient to turn it lower on the week. Europe's Stoxx 600 is holding on to a small gain near midday. If sustained, it would be the fourth gain this week and it would recoup most of last week's 2.6% decline. US index futures enjoy a firmer bias. European benchmark 10-year yields are mostly 1-2 bp higher today. The 10-year Gilt yield is making new highs for the week, near 4.57%, a six-point increase on the week. The 10-year US Treasury yield is softer, slightly below 4.25%, up about five basis points this week. September WTI slumped to $63.20 to take out last month's low before recovering back above $64.00. Today is ostensibly the deadline that President Trump had given Russia to agree to a truce. USD: The Dollar Index rallied from July 1 through August 1, and this week's pullback nearly met the 61.8% of the rally (~97.85). It is consolidating today and is holding below yesterday's high (~98.50). It recorded the North American session low yesterday after reports suggested Stephen Miran would be nominated to finish Governor Kugler's term at the Fed. Meanwhile, the event markets favor Waller to be Powell's successor. The US economic diary is light until next Tuesday's CPI. The headline and core rates are expected to have risen in July for the third consecutive month. At the same time, a consensus appears to be forming for a rate cut at the next FOMC meeting (September 17). The Fed funds futures are discounting about a 90% chance of a September cut compared with slightly less than 40% before the July employment report. The current effective Fed funds rate (weighted average) is 4.33%. The futures market puts it at 3.74% at the end of the year. It was near 4% before the jobs report, which was up almost 10 bp from before the FOMC meeting, which the market saw the Fed's hold at the end of July, despite two governor dissents, as hawkish. EURO: The euro rose through the (61.8%) retracement of its losses since the July 1 high (~$1.1830) in early European activity yesterday and was turned back from almost $1.1700. It was sold back to nearly $1.1610 as European dealers were closing their books. It recovered to settle higher on the day after the Miran news. It is trading quietly today between $1.1635-$1.1680. Recall that the high set after last week's poor US jobs data was slightly below $1.16. Given that the euro rallied three cents off last Friday's low some consolidation seems likely, especially ahead of the US CPI on Tuesday. CNY: China's large external surplus (trade and current account) is understood to mean that the yuan is undervalued. Most calls to revalue it are missing two elements. The first is the broader context of the foreign exchange market. The IMF says it is around 15% undervalued, though some economists think it is closer to 20% below fair value. Consider that the OECD's model of purchasing power parity has the yen and euro almost 55% undervalued and the Canadian dollar 21% undervalued. In fact, the only G10 currency overvalued is the Swiss franc (~17%). The US has often sought to have other countries re-value rather than accept the stigma of a dollar devaluation. If the dollar were to return to fair value against the euro and yen, it would also likely be considerably less overvalued against the yuan. That is to suggest rather than a yuan problem per se, there is a dollar problem. The dollar's overvaluation explains more than the yuan's undervaluation. The second element missing from most discussions is the process by which the foreign exchange adjustment should be made. How are we getting from here to there? This goes largely unaddressed, whether one is talking about the euro, yen, or yuan. To re-value their respective currencies, do the advocates want central banks to sell Treasuries (or Agency bonds) and dollars? With deflation (and China's July CPI and PPI will be reported tomorrow, Saturday), are critics arguing that the PBOC should hike rates? And few of the calls for a revaluation of the yuan acknowledge that last month when the US dollar rallied, the yuan was the strongest currency in emerging markets and outperformed all the G10 currencies. More immediately, this week's range was set on Monday: ~CNH7.1765-CNH7.1960. The PBOC set the dollar's reference rate at CNY7.1382 (~CNY7.1345 yesterday, the lowest since last November). The absolute value of the change in the dollar's fix this week was almost 0.40%, the most since last November. JPY: This week's range was set on Monday and Tuesday: ~ JPY146.60-JPY148.10. The dollar nearly covered the range yesterday (~JPY146.70-JPY147.70) and remains inside yesterday's range today. The five-day moving average crossed below the 20-day moving average yesterday for the first time in a month, which is a good proxy for the near-term trend. On the upside, the dollar must get above JPY148.25 to be notable from a technical perspective. Household spending disappointed, rising 1.3% year-over-year in June, about half of what economists projected in Bloomberg's survey and down from 4.7% in May. Yet the takeaway is really the improvement this year. Consider that outside an occasional statistical fluke, household spending, which is reported in real terms, has been falling from late 2022 through late last year. In December 2024-January 2025, the first back-to-back increase was posted in two years. With today's data point, the H1 average year-over-year increase was 1.4%. In H1 24, household spending fell by 1.8% on average, year-over-year. The current account surplus narrowed to JPY1.35 trillion from JPY3.4 trillion in May. Only a small part of this narrowing can be explained by trade. The trade surplus narrowed to JPY470 bln from JPY522 bln in May. The swaps market is pricing in 14 bp of tightening this year, down from 15 bp at the end of last week. GBP: Sterling recorded the session high yesterday, almost $1.3450 after the Bank of England announced what appears to be a hawkish cut. It made a marginal new high today. The closeness of the vote (5-4) after an initial three-way split encouraged market participants to reduce the chances of another cut in Q4. That cut was fully discounted at the close of Wednesday, but it has been reduced by a little more than a quarter. In the statement, BOE officials seemed more attentive to the upside risks of inflation. The last push higher to session highs, was following the Miran news. Sterling settled above the 20-day moving average (~$1.3395) for the first time since July 23. The $1.3465 area marks the (50%) retracement of last month's pullback, which bottomed last Friday near $1.3140. The next retracement (61.8%) is around $1.3540. CAD: The US dollar fray support around CAD1.3725. It houses the 20-day moving average and the (50%) retracement of the gains from the July 23 low near CAD1.3575. Nearby resistance is seen near this week's high (~CAD1.3810). The greenback is pinned near yesterday's lows. Canada's July employment data is the pre-weekend data highlight in North America. In H1 25, Canada has created almost 144k jobs (~183k in H1 24). Of these, about 56k were full-time positions (~66k in H1 24). The median forecast in Bloomberg's survey is for a 10k increase in overall jobs (83.1k in June). The unemployment rate may return to 7%, the post-pandemic peak reached in May. Ahead of the report, the swaps market is discounting around a 30% chance of a cut at the September 17 meeting. Barring a surprisingly poor report, expectations are unlikely to change much in response to today's jobs data. AUD: The Australian dollar came within around 5/100 of a cent from the (61.8%) retracement of the losses from the July 24 high of the year (~$0.6625) to last Friday's low (~$0.6420). Yesterday's low was near $0.6490 was seen toward the end of the European session. It is trading in about a quarter-cent range so far today above $0.6510. The Australian dollar has held its own this week, gaining about 0.70%, the second strongest G10 performance this week behind sterling (~1.2%), even though a quarter-point rate cut is widely expected next week. MXN: As widely expected, Banxico cut its overnight rate target 25 bp to 7.75%. The quarter-point reduction follows four half-point cuts in H1 25. The easing cycle began in March 2024, and in all, five quarter-point cuts were delivered last year. The swaps market sees the terminal rate around 7.25%. Before the central bank meeting outcome was announced, Mexico reported the sharp drop in headline CPI that was expected (3.51% vs. 4.32%). The core rate stands at 4.23% (4.24% in June). Banxico forecasts an average headline pace of 4.1% and 3.8% in the core in Q3. After reaching nearly MXN18.760 in late NY morning turnover, the dollar trended back toward the lows before and after the rate announcement. It settled near MXN18.6130. The greenback is a narrow range in this week's trough. Last week's low was almost MXN18.51. This week's low, set Wednesday, was about MXN18.5825. Meanwhile, the US dollar has been sold against the Brazilian real and approached the year's low set last month near BRL5.40. The low in H2 24 was closer to BRL5.37. Disclaimer

Ripple Labs’ long-running legal fight with the US Securities and Exchange Commission (SEC) is officially over after both sides agreed to drop their appeals in the case. According to reports, a joint filing on August 7 confirmed the decision to the 2nd Circuit Court of Appeals, ending a nearly five-year dispute that has shaped debate over how cryptocurrencies are regulated. Back To Business Ripple’s chief legal officer Stuart Alderoty said on social media the matter was “over” and the company could get “back to business.” Appeals Withdrawn, Penalties Finalized Based on reports, the SEC has withdrawn its challenge to a 2023 ruling that XRP sales on public exchanges were not securities. Ripple, in turn, dropped its own appeal on the finding that institutional sales of XRP violated securities laws. Both parties will shoulder their own legal expenses. The case’s resolution finalizes $125 million in penalties first outlined by Judge Analisa Torres. Of that, $50 million will go to the US Treasury, while $75 million—held in escrow since June—will be returned to Ripple. The ruling also leaves in place a permanent injunction stopping Ripple from making institutional XRP sales without following securities laws. It can be recalled that the litigation started in December 2020 when the regulatory body charged Ripple with raising $1.3 billion from unregistered securities offerings. Ripple protested innocence, claiming XRP is not a security. In July 2023, Judge Torres agreed with the SEC on “programmatic” sales to institutional buyers but decided such type of sales to retail purchasers were not deemed as “securities.” Political Shift Shapes Outcome The move to suspend appeals follows US President Donald Trump’s return to the White House and appointment of new bosses at the SEC. According to reports, under the new chair, Paul Atkins, the agency has backed away from more than a dozen enforcement actions and investigations involving crypto firms in recent months. Ripple CEO Brad Garlinghouse earlier said both parties had already agreed in June to put closure to their appeals, though negotiations to reduce the penalties failed. Meanwhile, market observers say the outcome is a reflection of the SEC’s softened approach in other high-profile cases, including those involving Coinbase and Kraken. For the crypto industry, this resolution is being viewed as a sign of changing tides in Washington’s stance when it comes to regulation. XRP Sees Renewed Trading Activity Following news of the case’s end, XRP shot up 13%, registering a 24-hour trading volume of $9.50 billion—an increase of more than 100% compared from the previous day. XRP’s price has been climbing by around 14% in the last seven days, latest data shows. Analysts say the sharp spike in activity signals renewed investor confidence now that the legal cloud over Ripple has been cleared. Featured image from Meta, chart from TradingView

The geopolitical risk premium in the oil market has faded, taking a back seat after a four-week, 30% parabolic rally in West Texas Oil CFD (a proxy for WTI crude futures) during the initial phase of the Israel-Iran conflict. Key takeaways Oil’s geopolitical risk premium has subsided after a 30% rally during the Israel-Iran conflict, with West Texas Oil CFD plunging 18% from its 23 June 2025 high.US crude oil inventory drawdowns have slowed, signalling potential stock build-ups that could further weigh on WTI prices.Possible easing of US sanctions on Russian oil, combined with OPEC+’s planned output hike, may add downward pressure on crude prices.West Texas Oil CFD has broken below key moving averages and trend supports, signalling the end of its three-month rebound and pointing to a medium-term bearish phase unless it breaks above US$68.80.US crude oil inventories are building up again Fig. 1: EIA US crude oil inventories excluding SPR (y/y change) with WTI crude oil futures as of 1 Aug 2025 (Source: MacroMicro) The growth of US crude oil inventories excluding the Strategic Petroleum Reserve (SPR) on a year-on-year basis has an indirect correlation with the movement of WTI crude oil, as a build-up in oil inventories puts downside pressure on oil prices. Since 20 June 2025, the drawn down of US crude oil inventories (excluding SPR) has slowed down from -9.9% y/y to -1.3% y/y as of 1 August 2025 based on data from the US Energy Information Administration (EIA) which suggests a potential build-up in oil inventories which is likely to put further downside pressure on the prices of WTI crude oil (see Fig. 1). A possible reduction of US sanctions on Russian oil Recent media reports have highlighted that the Russian government confirmed that Presidents Putin and Trump will meet for summit talks on ending the war in Ukraine in the next few days. Hence, a ceasefire deal between Russia and Ukraine is likely to allow the removal or reduction of sanctions on Russia’s oil exports, in turn, increasing oil supply on top of ongoing OPEC+ production hikes where the cartel has agreed to pump an extra 2.5 million barrels of oil per day starting in September. The net effect is a more dampening effect on the prices of WTI crude oil. The three-month corrective rebound in WTI crude oil may have ended Fig. 2: West Texas Oil CFD medium-term trend as of 8 Aug 2025 (Source: TradingView, click to enlarge chart) The West Texas Oil CFD has broken below its 20-day, 50-day, and 200-day moving averages. In addition, its daily MACD trend indicator has broken below a former parallel ascending support from 6 May 2025 and continued to trend downwards below its centreline. These observations suggest that a three-month corrective rebound from the 9 April 2025 low to the 23 June 2025 high is likely to have ended. The next possible movement of the West Texas Oil CFD is likely a medium-term (multi-week) impulsive bearish down move within a major downtrend phase in place since the 28 September 2023 high (see Fig. 2). Bearish bias below US$67.25/68.80 key medium-term pivotal resistance for the next supports to come in at US$60.55, US$55.00, and US$50.50/49.10 (congestion area of 5 June/7 Aug 2017 & Fibonacci extension). However, a clearance above US$68.80 invalidates the bearish scenario for a squeeze up to retest the next medium-term resistances at US$71.30 and US$74.00. 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.

The Canadian dollar continues to have a quiet week. In the European session, USD/CAD is trading at 1.3732 down 0.10% on the day. Canada's job growth expected to slipCanada releases its employment report for July later today. The data is usually released at the same time as the US jobs report, which was published last week. The markets are braced for a soft report. Job growth is expected to show a modest gain of 13.5 thousand, after a strong gain of 83.1 thousand in May. The unemployment rate, which has been creeping higher, is expected to hit 7.0% from 6.9%, which would be its highest level since August 2021. Trade talks between Canada and the US have stalled and the US has slapped 35% tariffs on Canadian goods, up from 25%. That is bad news for the Canadian economy, which sends 75% of its exports south of the border. However, the damage from high tariffs is mitigated by an exception for automobiles, auto parts and other products which are comply with the US-Mexico-Canada agreement. The Bank of Canada is back in a wait-and-see-stance after cutting interest rates in March to 2.75%. The BoC has held rates for three consecutive meetings, as US tariffs have created a lot of uncertainty with regard to growth and inflation. Will BoC cut in September? If today's job report is as weak as expected or even softer, it will support the case for another rate cut, as the BoC doesn't want to see the labor market deteriorate sharply. The inflation picture is mixed- headline CPI is at 1.9%, just below the 2% target, but core CPI is at 3%, higher than than BoC would like to see. If inflation doesn't show much change before the next BoC meeting in September, the employment data will likely be the critical factor in determining whether the central bank holds or lower rates. The BoC has also noted its concern over the uncertainty caused by the tariff war between Canada and the US, If the tariff picture clears up before the September meeting, it would reduce uncertainty and make it easier for the BoC to chart a rate path. USD/CAD Technical USD/CAD is testing support at 1.3748 .Below, there is support at 1.3723There is resistance at 1.3775 and 1.3800 USDCAD 1-Day Chart, Aug. 8, 2025 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.

On Thursday, the decades-old wall separating US retirement accounts from direct crypto exposure came down — and the potential capital inflow is staggering. President Donald Trump signed an executive order that will open 401(k) retirement plans to a broader range of alternative assets, including private equity, real estate, and — for the first time — crypto assets such as Bitcoin, Ethereum, and Solana. Is A Trillion-Dollar Crypto Flood About To Hit? The news marks a sharp reversal from the US Department of Labor’s (DOL) aggressive stance just three years ago, when the agency issued an unprecedented warning urging retirement plan providers to “exercise extreme caution” before offering crypto in 401(k) plans. As Ryan Rasmussen, Head of Research at Bitwise Asset Management, noted, “It was the first — and only — time the DOL singled out an asset class like this. Not even junk bonds or ESG funds.” In 2022, the DOL went further, stating that adding crypto to a 401(k) could be interpreted as a failure to meet the required fiduciary standard of professional care. The message was unambiguous: providers who failed to meet that standard could be held personally liable for any losses. This effectively froze the market before it began. “401(k) providers had to decide if adding crypto to plans was worth the risk of DOL scrutiny. Most didn’t,” Rasmussen explained. The chilling effect was immediate — sponsors backed off, firms paused crypto-linked retirement products, and investors “missed out on life-changing returns.” By mid-2025, however, the tide had turned. Mounting legal pressure, pushback from 401(k) providers, and Congressional criticism of regulatory overreach led the DOL to rescind its “extreme caution” guidance in full. More strikingly, the agency admitted that its 2022 approach was a deviation from its historically neutral treatment of investment strategies. As Rasmussen put it, “Once again, the US government admitted it had singled out crypto.” Now, the executive order will not merely remove the roadblocks but actively open the gates. According to Bloomberg data cited by Rasmussen, the US 401(k) market is valued at approximately $12.5 trillion. Even a 1% allocation to crypto would translate to $125 billion in inflows; a 10% allocation could reach $1.25 trillion. Rasmussen believes the earliest beneficiaries will be assets with existing exchange-traded fund (ETF) structures, naming Bitcoin, Ethereum, and Solana, while adding that “a rising tide lifts all boats.” More Implications For industry observers, the implications extend beyond a one-time capital injection. Tom Dunleavy, Head of Venture at Varys Capital, stressed that the mechanics of 401(k) investing create a powerful and persistent demand driver. “In the US, roughly 100 million Americans have a retirement investment vehicle known as a 401(k),” Dunleavy explained. “Every 2 weeks, a portion of their paychecks are routed directly into purchasing a mixture of stocks and bonds… This is a HUGE driver of the equity market run and resilience over the past 20 years. A constant background bid for assets.” With around $50 billion entering these funds biweekly, even a modest portfolio allocation to crypto — 1%, 3%, or 5% — could create recurring inflows of $120 billion to $600 billion annually. “And these aren’t one-time flows. THEY KEEP BUYING ONCE ALLOCATIONS ARE SET,” Dunleavy emphasized. Jan Happel and Yann Allemann, the founders of Glassnode and Swissblock, are already calling the move a watershed for mainstream adoption. They remarked via X, “People don’t realize yet how big today’s news has been for crypto… this will be seen as the watershed moment for mainstream adoption, much more than the ETF.” Scott Melker, known as “The Wolf of All Streets,” highlighted the transformational nature of the change: “Until now, the average American couldn’t touch Bitcoin or Altcoins in a 401(k). Soon, they might be able to DCA and trade like a degen tax-free for decades. This isn’t just policy — it’s a paradigm shift.” As Dunleavy summed it up, with 401(k)s and direct asset trusts in place, the policy “put[s] a ridiculous floor under crypto going forward and move[s] the limit from the moon to Jupiter.” At press time, the total crypto market cap stood at $3.82 trillion.

In DeFi, Hyperliquid stands out due to its innovation. Coingecko data shows that HYPE, its governance token, is the most valuable DEX coin, with a market cap more than twice that of Uniswap (UNI). Currently, Hyperliquid has a market cap of $13.4 billion, and HYPE trading generated over $244 million in volume in the past 24 hours. While volume fluctuates, interest in the HYPE token suggests that Hyperliquid is closely monitored and may become one of the next cryptos to explode if it continues gaining market share. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Hyperliquid Generates Record Revenue On X, one analyst notes that Hyperliquid, the decentralized perpetual crypto exchange, could be one of crypto’s most compelling stories. In the past month alone, the analyst observes that Hyperliquid generated over $90 million in fee revenue. (Source: Holosas on X) At this level, Hyperliquid outperformed Ethereum, Pump.fun, Ethena, Base, Ondo, and even Solana, which collectively generated just $88 million in the past month. For this reason, the analyst is convinced that HYPE is likely grossly undervalued at the current $13.4 billion market cap. If extrapolated, and the current fee revenue remains, Hyperliquid could easily generate over $1 billion in fees annually, positioning it as a leader among DeFi protocols. According to DeFiLlama, Hyperliquid generated over $19 million in fees in the past week. Cumulatively, the protocol has generated over $561 million in fees. (Source: DefiLlama) In terms of trading volume, the decentralized perpetual exchange processed over $11.7 billion in the past 30 days, $2.1 billion in the last week, and over $296 million in the past day. At this level, Hyperliquid posted more than Gemini, which recorded nearly $237 million in the past day. (Source: Coingecko Exchanges) This stellar performance by Hyperliquid is remarkable. It explains why HYPE, in the eyes of optimistic analysts, is just beginning its ascent. At spot rates, HYPE8 ▲7.22% is nearly 18% below its all-time high of around $50. HyperliquidPriceMarket CapHYPE8$13.58B24h7d30d1yAll time Despite the drop in late July, the uptrend remains intact. HYPE crypto has found support at around $36. If buyers break above $40, there is potential for more growth, building on gains from much of 2025. Since listing on major exchanges in late 2024, HYPE has soared from lows of around $8 to all-time highs of $50, before cooling to approximately $40. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Is HYPE Crypto Undervalued? Traders anticipate a supply shock in HYPE. Hyperliquid uses 97% of its revenue to buy back HYPE from the secondary market. At an annualized rate of $1.1 billion, the decentralized perpetual DEX will use over $950 million to acquire more HYPE, reducing the circulating supply and creating sustained upward pressure. Currently, the Hyperliquid Assistance Fund has amassed over $1.1 billion worth of HYPE through buybacks alone. (Source: Hypurrscan) At the current buyback rate, one analyst projects that this aggressive mechanism could see the DEX buy back its entire circulating supply within four years. This aggressive buyback mechanism is unprecedented and far surpasses that of Binance, which aims to eventually reduce its circulating supply from 200 million to 100 million BNB. DISCOVER: Top Solana Meme Coins to Buy in 2025 Should Hyperliquid further grow its user base and increase its perpetual DEX market share, the exchange may buy back HYPE faster than retailers expect. According to Artemis, Hyperliquid controlled over 75% of all perpetual DEX trading volume as of July 2025. During that time, despite Bitcoin reaching new all-time highs in mid-July, HYPE posted solid gains, adding over 50% compared to Bitcoin’s 13%. Analysts say the strong performance, record revenue, and buyback program align with the interests of traders and liquidity providers. Together, they create a sustainable and resilient model compared to traditional competitors like Robinhood, making it attractive for investors. Compared to public crypto companies such as Robinhood or Coinbase, Hyperliquid is lean. The team’s token allocation, per Messari, is less than 25% of the total supply. These tokens are locked until 2027–2028, with only 34% of the total supply of 1 billion in circulation. Messari analysts say this structure gives Hyperliquid an “infinite” fully diluted valuation (FDV), unlike public companies serving similar clients. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 Is Hyperliquid HYPE Crypto Undervalued? DEX Generating Record Revenue HYPE crypto could be undervalued Hyperliquid generated over $90 million in revenue in the past 90 days HYPE crypto prices may soar above $50 Analysts point to the aggressive buyback plan as a reason to stay bullish The post Is Hyperliquid HYPE Crypto Undervalued? DEX Generates Record Revenue appeared first on 99Bitcoins.

In the end, Trump finally said something that made the market surge. The rally came after U.S. President Donald Trump signed an executive order allowing 401(k) retirement funds to invest in digital assets — a move that could unlock up to $9 trillion in long-term capital for the crypto market. Could this be the spark for the next bull run? Now might be the time to find the next crypto ready to explode. While Trump’s move excites investors, some experts warn crypto in 401(k)s carries big risks: extreme volatility, possible fraud, unclear regulations, and high fees. Retirement savers could face intense losses if markets turn. Advisors suggest limiting crypto to a small share of a diversified portfolio. EXPLORE: Best New Cryptocurrencies to Invest in 2025 Anyway, the market sentiment was also boosted by growing optimism over potential progress toward easing tensions in the Russia-Ukraine conflict. Ethereum led the rally, climbing 5.67% to briefly surpass $3,900. Bitcoin gained 2%, trading close to $117,000. XRP delivered one of the standout performances of the day, soaring 12.8% after concluding its four-year SEC dispute. Gains were also seen across PayFi, DeFi, meme, and RWA tokens, adding to the day’s strong momentum. (XRPUSDT) Stay tuned for live updates on the latest developments shaping the crypto market. There are no live updates available yet. Please check back soon! The post [LIVE] Latest Crypto News, August 8 – Rally as Trump Approves 401(k) Crypto Investments, ETH Breaks $3,900: Next Crypto To Explode? appeared first on 99Bitcoins.

The $4,000 level has remained elusive for Ethereum even after rallying 40%+ in the months of May and July. The fact that the altcoin has been unable to clear this level points to this being the resistance to beat if Ethereum is to continue its uptrend. It also shows that there are forces keeping the altcoin from breaking this $4,000, and one market expert has attributed this to hedge funds, who have a unique interest in holding the price below $4,000. What Ethereum Above $4,000 Means For Options Traders In an X post, trader and market analyst Glen Goodman unveiled another angle to the beatdown that the Ethereum price has continuously suffered at the $4,000 level. This elusive price tag remains the singular hindrance to the ETH price possibility breaking its $4,800 peak from 2021, and its continuous trading below this price tag could be intentional. Goodman’s post focuses on options traders and the hedge funds which they are betting against. Basically, since the hedge funds are still short Ethereum at this point, they need to suppress the price and keep it from reclaiming $4,000 in order to keep their positions in a profit. These professional traders or hedge funds are the ‘sellers’ who write the options, and they get a premium for doing so. Then the options buyers are paying a premium to the sellers as they are betting on the price of Ethereum actually going up above $4,000. So, every time the Ethereum price does reach $4,000, it gets beaten down so hedge funds can continue to profit from the premiums being made from buyers. What Happens If ETH Clears $4,000? In the event that the Ethereum price does cross $4,000, it means that the hedge funds will start to lose money, and the options buyers will begin making money. As the crypto trader explains, the higher the ETH price goes, the more money the options buyers make and the more money the hedge funds lose. This is why there always seems to be a violent pullback every time Ethereum comes close to $4,000 as the hedge funds continue to short it. Goodman explained that the hedge funds have been able to use this strategy to keep the Ethereum price below $4,000 and remain in profit. However, with each time that the altcoin comes close to the $4,000 level, the probability of breaking above it becomes higher. Over the long term, Ethereum’s price breaking $4,000 is incredibly bullish. “Strong resistance kicks in at $4000, so the price could really fly if it beats all the resistance in the early 4000s,” Goodman explained.

An analyst has pointed out how Dogecoin has entered into a zone that kicked off major bull runs for the memecoin in the past. Dogecoin Is Trading Near Lower Level Of Historical Ascending Channel In a new post on X, analyst Ali Martinez has talked about how the weekly Dogecoin price has entered into a historically important buy zone. Below is the chart shared by Martinez, showing this trend. As is visible in the graph, the Dogecoin weekly price has roughly followed an Ascending Channel over the past decade. The “Ascending Channel” here refers to a technical analysis (TA) pattern that forms when an asset trades between two parallel trendlines angled upward. The upper line of the pattern tracks successive higher highs in the price, while the lower one connects higher lows. The former is considered to be a source of resistance and the latter that of support. Though, while this may be so, Dogecoin has dipped under the lower line of its long-term Ascending Channel a few times over the years, with the latest instance coming this year. That said, in each of these occurrences, the asset found support at a trendline a bit below the Ascending Channel’s lower level. The analyst has described the shaded area between the two lines as a “historically strong buy zone.” From the chart, it’s apparent that multiple major bull runs in DOGE found their start after the price retested this zone. At present, the token is trading inside the area, with recent attempts to re-enter the Ascending Channel ending up in failure. It now remains to be seen whether a breakout into the channel would follow for Dogecoin and potentially kick off another rally, or if this cycle would break the pattern. The Ascending Channel is just one type of pattern with parallel trendlines that exists in TA. When the asset’s consolidation occurs toward the downside instead, the formation is known as a Descending Channel. As pointed out by Martinez in another X post, another memecoin, Pudgy Penguins (PENGU), has broken out of such a channel recently. As displayed in the above chart, the 1-hour price of Pudgy Penguins was sliding down inside the Descending Channel during the last two weeks, but it has just found a surge above its resistance line. “PENGU targets $0.041 after breaking out of a descending channel!” says the analyst. DOGE Price At the time of writing, Dogecoin is trading around $0.21, up almost 4% over the last 24 hours.

Tron (TRX) has recorded notable price gains over the past month, rising by nearly 20% in the past 30 days. Currently trading at around $0.3392, the asset has also posted a 1.5% gain in the past 24 hours. These developments occur amid growing on-chain activity, particularly driven by the increased use of the TRON network for Tether (USDT) transactions, positioning the blockchain as a major player in the stablecoin infrastructure space. One of the key observations has been the network’s sharp rise in USDT transaction volume. According to CryptoQuant contributor Arab Chain, TRON processed over 8.29 million USDT transactions in the week ending August 3, 2025. This figure not only indicates heightened activity but also reveals the diversity of transaction sizes across the network. Transfers between $101 and $1,000 made up the largest proportion at 38.66%, with significant activity also observed in transactions exceeding $1,000. TRON’s Dual Adoption: Retail and Institutional Activity on the Rise Arab Chain emphasized that this distribution highlights TRON’s appeal across different user groups. The presence of mid-sized transactions suggests usage by freelancers, online vendors, and remittance users. In contrast, the substantial number of larger transactions implies participation by institutional traders, high-net-worth individuals, and potentially corporate entities. The analyst also noted a decline in transactions below $10, suggesting a reduced reliance on micro-payments or testing activity and a pivot toward practical use cases. The growing use of TRON for real-world settlement purposes is reinforced by its infrastructure, which supports low-cost, high-volume stablecoin transactions. Unlike networks that cater predominantly to large institutional transfers, TRON’s environment facilitates both high-frequency and high-value transfers. Arab Chain stated that this makes TRON a core component in enabling digital commerce, payroll systems, and cross-border payments. Meanwhile, CryptoQuant analyst Burak Kesmeci linked TRX’s recent momentum to regulatory developments in the United States. On July 18, 2025, the US Congress passed the GENIUS Act, marking the first formal federal regulatory framework for payment stablecoins. Kesmeci noted that this legislation provides a clearer legal foundation for dollar-backed digital assets by establishing guidelines for anti-money laundering (AML), consumer protection, and financial stability. Post-GENIUS Act: TRON Expands USDT Dominance Following the passage of the GENIUS Act, TRON moved swiftly to expand its footprint. According to Kesmeci, approximately $1 billion worth of new USDT was minted on the TRON network shortly after the bill became law. This increased TRX’s share of the total circulating USDT supply to over 83 billion out of 163 billion, accounting for approximately 51% of all USDT in circulation. The analyst suggested that this reinforces TRON’s position as the leading blockchain for stablecoin transfers. The GENIUS Act may catalyze stablecoin adoption in the US, with TRON expected to benefit due to its efficiency in handling stablecoin transactions. As more institutions and users seek reliable, low-fee solutions for digital payments, TRON’s role in the growing ecosystem of tokenized dollars might just continue to expand. Featured image created with DALL-E, Chart from TradingView

Earlier last week, the USD/JPY surged to a four-month high of 150.92 on 1 August, but its prior accumulated gains of the previous four sessions were all wiped out and formed a weekly bearish “Shooting Star” at the close of last Friday, 1 August US session. These observations suggest a potential bullish breakout on the USD/JPY above the key 200-day moving average and the upper boundary of its medium-term ascending range configuration in place from the 22 April 2025 low as it reintegrated back below the 149.50 level. Since the start of this week, 4 August, through today’s Asian session on 8 August, the Japanese yen has lagged behind other major currencies against the greenback. While the US Dollar Index has fallen 0.5%, the USD/JPY has posted a smaller decline of just 0.2%. Let’s dissect the latest technical developments in the USD/JPY and construct a possible short-term trading set-up from a technical analysis perspective. Fig. 1: USD/JPY minor trend as of 8 Aug 2025 (Source: TradingView) Preferred trend bias (1-3 days) A potential minor bearish breakdown looms on the USD/JPY within a medium-term ascending range configuration in place since the 22 April 2025 swing low of 139.89. Bearish bias below 148.15 short-term pivotal resistance, and a break below 146.60 may expose the next supports at 145.85 (50-day moving average) in the first step before the medium-term support at 144.50 (lower boundary of the ascending range configuration from 22 April 2025 low). Key elements From Friday, 1 August, to Tuesday, 5 August, USD/JPY experienced a 430-pip decline (high to low), with price action remaining below its 20-day moving average.The USD/JPY has formed a minor “Descending Triangle” bearish range continuation configuration with its downside trigger level at 146.60 below the 20-day moving average.The hourly RSI momentum indicator has been capped by a parallel descending resistance at the 56 level, which suggests the lack of upside momentum in USD/JPY.Alternative trend bias (1 to 3 days) A clearance above 148.15 invalidates the bearish scenario and sees a squeeze up towards the upper limit of the medium-term ascending range for the next intermediate resistances to come in at 148.75 and 149.50 (also the key 200-day moving average). Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Dogecoin started a fresh increase from the $0.1950 zone against the US Dollar. DOGE is now consolidating and might aim for more gains above $0.2250. DOGE price started a fresh increase above the $0.2120 level. The price is trading above the $0.2150 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.2150 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh upward move if it clears the $0.2250 and $0.2350 resistance levels. Dogecoin Price Regains Traction Dogecoin price started a fresh increase above the $0.2020 resistance zone, like Bitcoin and Ethereum. DOGE was able to clear the $0.2120 and $0.2150 resistance levels. There was a clear move above the $0.220 level. Finally, the price tested $0.2250. A high is formed at $0.224 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1956 swing low to the $0.2243 high. Dogecoin price is now trading above the $0.220 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.2150 on the hourly chart of the DOGE/USD. Immediate resistance on the upside is near the $0.2250 level. The first major resistance for the bulls could be near the $0.2320 level. The next major resistance is near the $0.2420 level. A close above the $0.2420 resistance might send the price toward the $0.250 resistance. Any more gains might send the price toward the $0.2650 level. The next major stop for the bulls might be $0.2780. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.2250 level, it could start a fresh decline. Initial support on the downside is near the $0.2175 level. The next major support is near the $0.2150 level. The main support sits at $0.210 or the 50% Fib retracement level of the upward move from the $0.1956 swing low to the $0.2243 high. If there is a downside break below the $0.2150 support, the price could decline further. In the stated case, the price might decline toward the $0.2050 level or even $0.2020 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.2175 and $0.2150. Major Resistance Levels – $0.2250 and $0.2320.

Ethereum (ETH) is attempting to break out of a crucial resistance level after recovering from last week’s lows. Some analysts suggested that the cryptocurrency is repeating past breakout playbooks, which could lead to a new high this quarter. Fourth Time’s The Charm? On Thursday, Ethereum retested the $3,850 level after recording a 6.3% surge in the daily timeframe. The surge was fueled by news of President Donald Trump’s alleged plan to sign an executive order that would allow private equity, real estate, cryptocurrency, and other alternative assets investments in 401(k) plans. The executive order would reportedly direct the Department of Labor (DOL) to revise the guidelines related to alternative asset investments in retirement plans, opening the doors to the $12.5 trillion industry. Notably, the King of Altcoins has been trading between the $3,400-$3,800 price range since the mid-July breakout, attempting to break out from the last “major resistance” zone three times during this period. Last week, ETH surged to a seven-month high of $3,941, briefly trading above the key resistance zone before retracing to its local range. The start-of-August correction saw the cryptocurrency retreat to the range lows, retesting the $3,350-$3,400 area as support. Ethereum attempted to reclaim the range highs as this week started, trading in the $3,600-$3,700 mid-zone for the past three days. However, today’s pump saw the second-largest crypto surge past the $3,800 area and retest the $3,850 local resistance. Following its recent performance, analyst Alex Clay considers that ETH’s correction “seems to be over.” He highlighted an 18-month descending broadening wedge on the daily chart, affirming that a “breakout is imminent” as the cryptocurrency neared the formation’s upper boundary. Ethereum To Hit New Highs Soon Analyst Ted Pillows affirmed that ETH is “just one bullish candle away from a major breakout,” highlighting the similarities between its May-June setup and its current one. Following the May breakout, Ethereum traded within its local range, failing to break above the $2,700 resistance multiple times before its June bull and bear traps. Following the fake-out and retest of the lows, the cryptocurrency broke out of its range and hit a new yearly high in the following weeks. Similarly, ETH has been trading within its current range after the July breakout, as the analyst’s chart shows, retesting the local resistance before the late July bull trap. After the early August bear trap, the King of Altcoins is now retesting the $3,850-$3,900 area. A breakout from this zone could propel the price above the $4,000 barrier if history repeats. Based on this, the analyst suggested that a $5,000 target is possible before the quarter ends. Meanwhile, Rekt Capital highlighted that the Ethereum Dominance (ETHDOM) has surged above the 12% level in an uptrend for the first time in five years. He noted that the last time ETHDOM rallied to this area was in July 2020, when it consolidated between the 12% to 16% zone for months before breaking out in 2021. According to the analyst, ETHDOM is now challenging to transition into a similar consolidation phase. As of this writing, ETH trades at $3,826 in the one-week chart, a 48% increase in the monthly timeframe.

XRP price is gaining pace above the $3.10 zone. The price is up over 10% and might extend gains above the $3.40 level in the near term. XRP price is showing bullish signs above the $3.20 zone. The price is now trading above $3.220 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $3.00 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $3.220 zone. XRP Price Rallies Over 10% XRP price formed a base above the $2.85 level and started a fresh increase, beating Bitcoin and Ethereum. The price gained pace for a move above the $3.10 and $3.15 resistance levels. The bulls pumped the price above the $3.20 level. Besides, there was a break above a bearish trend line with resistance at $3.00 on the hourly chart of the XRP/USD pair. It is up over 10% and trading above $3.30. A high is formed at $3.38 and the price is now signaling more gains since it is stable above the 23.6% Fib retracement level of the upward move from the $2.90 swing low to the $3.380 high. The price is now trading above $3.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.40 level. The first major resistance is near the $3.420 level. A clear move above the $3.420 resistance might send the price toward the $3.50 resistance. Any more gains might send the price toward the $3.550 resistance or even $3.620 in the near term. The next major hurdle for the bulls might be near the $3.750 zone. Are Dips Limited? If XRP fails to clear the $3.40 resistance zone, it could start a downside correction. Initial support on the downside is near the $3.250 level. The next major support is near the $3.150 level or the 50% Fib retracement level of the upward move from the $2.90 swing low to the $3.380 high. If there is a downside break and a close below the $3.150 level, the price might continue to decline toward the $3.10 support. The next major support sits near the $3.00 zone where the bulls might take a stand. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $3.30 and $3.250. Major Resistance Levels – $3.40 and $3.420.

Bitcoin’s recent price action has drawn renewed attention as the asset attempts to rebound from last week’s decline. Following its July peak above $123,000, BTC experienced a downturn, hitting lows around $112,000 over the weekend. However, the latest data now suggest a gradual recovery in progress, with the cryptocurrency trading above $116,000 at the time of writing. Despite this modest rebound, some analysts are warning that underlying market sentiment could be pointing to a potential correction. Recent insights from contributors on the CryptoQuant QuickTake platform highlight signs of increasing optimism among traders, particularly on Binance. The balance between long and short positions is showing a distinct bias toward the long side, a pattern historically associated with short-term reversals. Sentiment Indicators Raise Red Flags on Binance CryptoQuant analyst BorisVest recently discussed how sentiment on Binance, based on long-short positioning, has shifted notably into positive territory. According to BorisVest, the platform’s sentiment metric has shown a surge in long positions as BTC moved from $112,000 to $115,000. He noted that such spikes often coincide with price corrections. “The clustering of green bars in the sentiment chart suggests that traders are increasingly expecting prices to rise. However, excessive optimism tends to be countered by market corrections,” he explained. The analyst added that Binance, given its dominant share in trading volume, provides valuable insight into broader trader behavior. When the long position concentration grows during price increases, it may indicate a potential round of profit-taking. BorisVest stated that a meaningful correction would likely require BTC to fall below the $110,000 mark, which could offer more favorable re-entry points for buyers while restoring balance to the market structure. Bitcoin Leverage Data Shows Mixed Signals for Recovery In a related post, another CryptoQuant analyst, Arab Chain, examined the ongoing decline in Binance’s leverage ratio. Typically, a reduction in leverage is interpreted as a signal that overleveraged traders are exiting the market, thereby reducing volatility and risk of forced liquidations. “Lower leverage suggests less speculative behavior in the short term,” Arab Chain noted, “which often contributes to more stable price action.” However, Arab Chain also pointed out that both leverage and price have been falling in tandem, which may reflect weak demand from spot buyers. This combination indicates that the recent downturn lacks sufficient buying support, raising concerns about the strength of Bitcoin’s current recovery. Featured image created with DALL-E, Chart from TradingView

Ethereum price found support near the $3,650 zone and started a fresh surge. ETH is rising and might soon aim for a move above the $3,920 zone. Ethereum started a fresh increase above the $3,750 and $3,800 levels. The price is trading above $3,800 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $3,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,750 zone in the near term. Ethereum Price Gains Over 5% Ethereum price started a fresh increase from the $3,650 support zone, beating Bitcoin. ETH price was able to recover above the $3,720 and $3,750 resistance levels. The bulls even pushed the price above the $3,850 resistance zone. Finally, the price tested the $3,920 resistance zone. A high was formed at $3,927 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,544 swing low to the $3,927 high. Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a bullish trend line forming with support at $3,820 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $3,920 level. The next key resistance is near the $3,950 level. The first major resistance is near the $4,000 level. A clear move above the $4,000 resistance might send the price toward the $4,220 resistance. An upside break above the $4,220 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500 in the near term. Are Dips Limited In ETH? If Ethereum fails to clear the $3,920 resistance, it could start a fresh decline. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,800 zone. A clear move below the $3,800 support might push the price toward the $3,735 support. Any more losses might send the price toward the $3,680 support level in the near term. The next key support sits at $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,735 Major Resistance Level – $3,920

The US markets have seen a surge of digital coins. Millions of Americans now hold tokens in their wallets. Blocking all of it suddenly would be nearly impossible. At the same time, leaving this sector with no rules puts everyday investors in harm’s way. Why Ban Is Off The Table According to Bloomberg columnist Matt Levine, outright banning crypto is off the table. He points out that tens of millions of people own digital assets today. Pulling the plug now would ripple through trading platforms, payment apps, and even major Wall Street firms. Levine argues that such a move would simply drive innovation and jobs offshore. Hostile Past Still Looms Under former SEC Chair Gary Gensler, most tokens were treated as stocks. That meant they needed to register under securities laws—a process that almost no project could clear. In practice, that stance rendered crypto “illegal” in the US. Many developers and investors felt shut out. According to analysts, crypto serves two purposes: it powers networks and it offers investment chances. That split role creates regulatory headaches. Many tokens act much like shares in a company, yet they also run on open software and community rules. The SEC knows how to protect stock investors, but digital coins need different safeguards. Project Crypto Signals Change Current SEC Chair Paul Atkins launched “Project Crypto” this year. The goal is to carve out faster, clearer paths for token registration. Projects that truly function as securities could follow a new, streamlined process. At the same time, tokens used mainly for network services would face lighter requirements. Levine warns that drawing clear lines won’t be easy. How do you tell a governance token from a pure utility token? What level of disclosure makes sense when code can update itself overnight? Those questions will test regulators and industry alike. However, having defined categories would guide honest developers and protect small investors. The SEC now faces a clear choice: use its power, but adapt its toolkit. A full ban would leave retail holders stranded. Total hands-off would leave them exposed to fraud. Featured image from Meta, chart from TradingView

SharpLink Gaming has secured $200 million in fresh capital through a direct share sale to four institutional investors. Each share was priced at $19.50. The company plans to use the full amount to expand its Ethereum holdings. If all goes as planned, SharpLink expects its ETH treasury to grow beyond $2 billion. Institutions Double Down on Ethereum This level of investment signals something bigger than just one company making a move. Large players are treating Ethereum less like a speculative token and more like a core balance sheet asset. For SharpLink, this isn’t a one-off play. It’s a treasury strategy built around ETH as a long-term reserve. More Companies Are Warming Up to ETH SharpLink’s move lines up with a slow but steady trend: companies starting to treat digital assets like treasury gold. Instead of holding just cash or bonds, they’re experimenting with Ethereum. And with staking in the mix, these holdings can generate returns without selling. Markets React to the Announcement After the news broke, SharpLink’s stock saw a modest bump. The move suggests investors are watching closely and may be open to the idea of ETH-heavy balance sheets. How the stock performs from here may depend on how well the company manages this new digital asset strategy. What Happens Next Everyone’s watching to see how quickly SharpLink deploys the funds into Ethereum and what the returns from staking look like over time. The bigger question is whether this becomes a model others will follow. If ETH continues to be seen as a reliable asset for treasuries, SharpLink might just be one of the early movers in a much larger trend. This looks less like a one-time headline grab and more like a blueprint for how publicly traded companies could treat Ethereum in the future. It’s not just about price speculation anymore. It’s about utility, yield, and long-term positioning. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways SharpLink raised $200 million through a direct share sale to grow its Ethereum treasury and now holds over 521,000 ETH. The company plans to stake its ETH for yield, treating Ethereum as a productive treasury asset rather than a passive investment. Institutional demand for Ethereum is rising, with major players treating ETH as a long-term balance sheet reserve. SharpLink’s approach mirrors a broader trend of companies experimenting with Ethereum as treasury collateral and yield-generation tools. This direct capital raise bypassed banks and signals a shift in how modern companies may treat ETH in future financing strategies. The post SharpLink Raises $200 Million to Grow Its Ethereum Treasury appeared first on 99Bitcoins.

Cameron and Tyler Winklevoss have invested Bitcoin into American Bitcoin Corp., a mining company connected to Eric Trump and Donald Trump Jr. The news came out during an investor call with Hut 8 CEO Asher Genoot, confirming the twins participated in a recent funding round through a private placement. American Bitcoin Formed Through Asset Merger The company was created earlier this year after Hut 8 merged its infrastructure with a separate entity linked to the Trump family. The result was a new firm built from the combined mining operations and set up with plans to go public. It has quickly become one of the more closely watched players in the space, especially with the new financial and political ties now out in the open. Miner Optimism Meets a Well-Timed Investment The twins chose an interesting time to step in. Bitcoin mining stocks have been on a tear lately, posting bigger gains than Bitcoin itself. Post-halving economics, energy costs, and rising interest in self-custodied reserves have all helped improve the outlook. The twins didn’t just pick a side, they put capital into a sector that has been quietly regaining momentum. DISCOVER: Best New Cryptocurrencies to Invest in 2025 The Trump Connection Adds More Than Drama This isn’t the first time the Winklevoss twins have aligned with Trump-affiliated efforts. They’ve previously donated to pro-Trump political groups and have been active in policy conversations around crypto regulation. This investment puts them even closer to that circle and signals a shared interest in promoting the domestic mining narrative that has gained traction in political circles. BitcoinPriceMarket CapBTC$2.34T24h7d30d1yAll time $2 Billion Bitcoin Treasury Sets the Stage American Bitcoin Corp. is not operating on a small scale. The company recently acquired around $2 billion worth of Bitcoin for its own reserves, setting itself up as one of the largest public holders of the asset. It also plans to list on Nasdaq, which would make it one of the few mining companies to go public with both a large treasury and visible political backing. Political Capital Meets Digital Assets There’s a growing overlap between political power and crypto infrastructure. With this move, the Winklevoss twins have tied themselves even more directly to one side of the U.S. political map. Whether that pays off depends on more than just market conditions. It also raises questions about how political influence might shape mining policy, tax treatment, and federal oversight going forward. DISCOVER: 20+ Next Crypto to Explode in 2025 What Comes Next for the Company American Bitcoin Corp. now faces the challenge of converting this momentum into performance. The market will be watching its listing, treasury strategy, and investor updates closely. There’s also a broader question about how this alliance might affect the role of Bitcoin in the 2024 election cycle and beyond. The Winklevoss investment adds a layer of complexity to what was already a high-profile mining company. With Bitcoin, politics, and power now sharing the same boardroom, the crypto space has another storyline worth following. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The Winklevoss twins invested Bitcoin into American Bitcoin Corp., a mining company with links to Donald Trump Jr. and Eric Trump. American Bitcoin Corp. was formed through a merger involving Hut 8 and Trump-affiliated mining infrastructure, with plans to go public. The twins’ investment comes as Bitcoin mining stocks outperform the asset itself, signaling renewed confidence in the sector. This move deepens the Winklevoss-Trump connection and aligns with political narratives around domestic mining and crypto policy. American Bitcoin Corp. holds around $2 billion in Bitcoin and is preparing a Nasdaq listing, placing it among the largest public BTC holders. The post Winklevoss Twins Back Trump-Affiliated Bitcoin Miner appeared first on 99Bitcoins.

Bitcoin price is again rising above the $115,500 zone. BTC is now consolidating and might aim for a move toward the $120,000 resistance zone. Bitcoin started a fresh increase above the $115,500 zone. The price is trading above $115,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $117,500 resistance zone. Bitcoin Price Aims Higher Bitcoin price found support near the $112,200 zone and started a fresh increase. BTC was able to climb above the $113,500 and $114,800 resistance levels. The price even cleared the $115,500 resistance to move into a positive zone. Finally, the price tested the $117,500 resistance zone. A high was formed at $117,643 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Bitcoin is now trading above $115,000 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $117,200 level. The first key resistance is near the $117,500 level. The next resistance could be $118,250. A close above the $118,250 resistance might send the price further higher. In the stated case, the price could rise and test the $119,200 resistance level. Any more gains might send the price toward the $120,000 level. The main target could be $121,500. Another Drop In BTC? If Bitcoin fails to rise above the $117,500 resistance zone, it could start another decline. Immediate support is near the $116,450 level. The first major support is near the $115,600 level and the trend line. The next support is now near the $114,550 zone or the 61.8% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Any more losses might send the price toward the $113,800 support in the near term. The main support sits at $112,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $115,600, followed by $114,550. Major Resistance Levels – $117,500 and $118,250.

In a bold move that could reshape the crypto landscape, the US President is reportedly preparing to sign an executive order aimed at protecting access to BTC and digital assets. If enacted, this landmark policy would redefine the relationship between digital assets and the US financial system. Bitcoin Steps Into The Political Spotlight Bitcoin has officially entered the hall of power, as the US President Donald Trump is preparing to sign an executive order that would prohibit banks from refusing services to Bitcoin and crypto-related companies. This move signals a major shift in the US policy and ends years of financial censorship against the crypto industry. According to a crypto enthusiast, Henry, with this impending order, the crypto industry appears to be getting serious respect from the White House, after years of regulatory uncertainty and political pushback. In the coming days, Henry suggests that positive developments are on the horizon, especially involving Federal Reserve Chair Jerome Powell. This kind of attention from the highest levels of government could shake up the entire market and trigger a wave of institutional interest and volatility. If this happens, it would be more than just good news, as it would be a game-changer. Not only could it act as a major catalyst for BTC, it would also open the doors for crypto businesses to access traditional financial services, which they need for growth. Bitcoin is gaining recognition among the highest forms of governments across the world. Reports show that the Indonesian Vice President Gibran Rakabuming Raka is exploring the possibility of adding Bitcoin to the country’s national reserves, according to a recent post from Bitcoin Indonesia. The move represents a bold step toward integrating digital assets into sovereign finance. If implemented, Indonesia would become one of the first major Asian economies to formally recognize BTC as a reserve asset, signaling a shift in how governments hedge against inflation, currency risk, and geopolitical uncertainty. The global spotlight is increasingly turning to crypto adoption at the state level. The Bhutan Government Moves $59.2 Million In BTC Several countries are engaging BTC globally at a rapid rate. In a significant and quietly executed move, the government of Bhutan has transferred 517 BTC, valued at approximately $59.2 million, to a new cryptocurrency wallet. This substantial transfer of BTC, reported by Crypto Rover on X, has sparked speculation among analysts and the crypto community about potential custody changes or strategic moves. The Himalayan kingdom of Bhutan has consistently maintained a low profile in the world of sovereign crypto holdings, making it one of the most discreet yet active state players in the digital asset space. This recent movement may indicate a shift toward enhanced security and measures in BTC reserves.

Following a brief dip to $112,200, Bitcoin (BTC) has recovered slightly, trading around the $116,300 level at the time of writing. While concerns remain about BTC’s inability to decisively break the $120,000 resistance level, on-chain data suggests the asset may be in an accumulation phase – potentially gearing up for its next breakout toward a new all-time high (ATH). Bitcoin Currently In Accumulation Phase, Analyst Says According to a CryptoQuant Quicktake post by contributor BorisVest, a strategy called Smart Dollar-Cost Averaging (DCA) may help Bitcoin investors accumulate the asset more strategically and improve long-term performance. In his analysis, BorisVest noted that investors often struggle to time their entries into BTC. Many tend to buy during local tops due to fear of missing out (FOMO) and avoid entering the market during bottoms out of fear of further declines. Smart DCA offers a way to bypass these emotion-driven decisions. The strategy recommends accumulating BTC when its market price falls below the 1-week to 1-month realized price – a period during which short-term holders are often in loss, resulting in heightened sell-off. BorisVest explained: At these levels, short-term holders are usually underwater, leading to increased sell pressure. Smart DCA activates hourly purchases during such periods, helping to bring the BTC and USD cost basis closer together. Currently, the 1-week to 1-month realized price stands at approximately $117,700. As long as BTC trades below this level, Smart DCA continues to flash an accumulation signal. Once BTC climbs above this threshold, the strategy advises gradually selling previously accumulated coins. With Bitcoin now trading near $116,000, the analyst suggests that the asset is still in an accumulation phase – though it’s approaching the realized threshold. According to data from CoinGecko, BTC remains about 5.2% below its ATH of $122,838, recorded on July 14. Is BTC Unlikely To Hit A New ATH? Despite holding steady around $115,000, some analysts warn that Bitcoin’s realized price is slowly beginning to show signs of fragility. A drop below the $105,000 mark could lead to increased downside momentum, potentially triggering a larger sell-off. Notably, Binance’s net taker volume has slipped back into negative territory, raising concerns about a near-term correction. Additionally, rising Bitcoin ETF outflows have shown signs of weakness, adding another layer of uncertainty. Still, not all indicators are bearish. Some on-chain metrics suggest BTC may simply be entering a cooling-off period after a brief overheated phase. At press time, BTC trades at $116,316, up 2.1% in the past 24 hours.

Bitcoin has recovered from a recent pullback thanks in part to improving market sentiment, a weaker US Dollar and recent crypto developments in the US. Bitcoin has rallied some 4.5% from the recent lows around the 112k mark on August 2. This low came in a day after market expectations regarding Federal Reserve rate cuts saw a significant shift in tone and the US Dollar rally fizzled. Another positive development for both Bitcoin and Crypto markets came earlier today as President Donald Trump signed an executive order that aims to allow 401(k) investors access to alternative assets (such as digital assets). Trump Signs Executive Order to Allow Bitcoin and Crypto in 401(k)s During the US session, the president of the United States, Donald Trump, signed an Executive Order that aims to allow 401(k) investors access to alternative assets (such as digital assets). According to the official announcement: “The order directs the Secretary of Labor to reexamine the Department of Labor’s guidance on a fiduciary’s duties regarding alternative asset investments in ERISA-governed 401(k) and other defined-contribution plans.” This comes as part of Trump’s plans to establish the country as the leading player in the cryptocurrency industry. To this point, the order also stipulates that “alternative assets, such as private equity, real estate, and digital assets, offer competitive returns and diversification benefits.” The move saw cryptocurrencies as a whole benefit, Bitcoin's price is now over $117,000, up 2% today. Ethereum (ETH), a hot topic among altcoins recently, has risen by 5%. The move could see greater institutional flows as market participants who have not had crypto investments in the past could look to include a portion in their 401k. ETF Flows Reflect Changing Market Dynamics Looking at ETF flows over the past week and they do reflect in part the changes to market conditions. ETF flows had enjoyed 5 consecutive days of inflows ahead of the Fed meeting. This came to an end as Fed Chair Jerome Powell adopted rather hawkish rhetoric in his post FOMC meeting comments. This saw inflows stop with 4 consecutive days of outflows as markets eyed the possibility of higher rates fro longer. Fridays Jobs data however through a spanner in the works. Outflows did not cease immediately despite the weak jobs data and continued at the start of this week but have since stalled. The last two days have seen modest inflows of around 91.5 and 74 million US Dollars. A sign that the tide is turning? Source: Farside Investors Technical Analysis - BTC/USD From a technical standpoint, Bitcoin has had a retest of breakout support level around the 112k handle and has since rallied higher. Looking at the H4 chart below we can see that bitcoin has been in a bull flag pattern since printing fresh all-time highs July 14 2025. The rally higher has now reached the top end of the bull flag pattern having broken back above the 50, 100 and 200-day MAs. Surprisingly on Tuesday August 5 we had a death cross pattern which Bitcoin seemed to ignore and continued its rally to the upside. A sign of bullish momentum? As things stand Bitcoin is eyeing a potential break of the bull flag pattern which could lead to a rally to around the 125k handle. Looking at price action, the fact that we have just printed a higher high means a pullback toward the swing low at 114555 before continuing higher and breaking out of the bull flag pattern. A four-hour candle close below the 114555 handle would invalidate this setup and could lead to a retest of the lower end of the bull flag pattern. Immediate resistance rests at the 120000 mark before the 120900 and all-time high at 123236. Support may be located at 114555, 112916 and 112000. Bitcoin (BTC/USD) Daily Chart, August 8, 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.

Last Friday’s US July Employment Situation release has delivered the kind of statistical jolt that rarely shows up outside crises, forcing traders to re-evaluate both the macro outlook and Bitcoin’s near-term path. Payrolls grew by just 73,000, but the shock lay in the record-large negative revisions: May and June were marked down by a combined 258,000 jobs, slicing the three-month hiring average to 35,000 and erasing nearly all of the second-quarter’s reported momentum. The Bureau of Labor Statistics notes that revisions of that magnitude have been seen only during the Covid collapse. Is Bitcoin Really Facing A Black Swan Event? Bloomberg Economics chief US economist Anna Wong wrote: “The downward revisions to May and June payrolls in the July jobs report constitute a black swan event – a three-standard-deviation move with less than a 0.2% chance of occurrence in the last 30 years. Adjusted for our estimate of the job overstatement from the Bureau of Labor Statistics’ birth-death model, the three-month hiring pace turns outright negative.” The data, she wrote in a terminal note circulated Friday, “flipped the labor-market script” from re-acceleration to abrupt cooling. Related Reading: Bitcoin Could See Another Crash To Fill This Imbalance Before Rally To $120,000 The market’s crypto voice on the issue has been Bitwise Europe’s head of research, André Dragosch, who spent the morning posting a string of warnings on X. First came the news, ”According to Bloomberg chief economist Anna Wong, the most recent payroll revisions were a ‘black swan event’.Will probably get even worse before it gets better…”, then the maxim, “Yes – bad for payrolls = good for bitcoin, at least over the medium to long term.” Minutes later he argued that deeper revisions could force emergency easing: “NOTE: There is a strong case for a negative June jobs print after further downside revisions which could lead to a 50 bps rate cut in September… Plan accordingly. #Bitcoin” By mid-afternoon he pushed the point to its logical extreme: “ATTENTION: We are probably just a single negative NFP print away from a significant repricing in Fed rate cut expectations. US labor market & inflation data surprises are still as bad as during Covid but traders only price in 2 cuts until Dec 2025… Printer is coming… ” Interest-rate futures moved sharply in Dragosch’s direction. On Wednesdays, the CME FedWatch Tool showed a 91 percent probability of at least one cut at the 17–18 September FOMC meeting. Minneapolis Fed President Neel Kashkari acknowledged that “the real underlying economy is slowing,” while Governor Lisa Cook called the size of the revisions “concerning.” Bitcoin’s price action captured the tug-of-war between recession fear and liquidity hope. The flagship cryptocurrency slumped to $111,920 on 2 August, its lowest print since early July, immediately after the payroll release and President Donald Trump’s subsequent firing of BLS Commissioner Erika McEntarfer. A tentative rebound toward $111,500 followed as rate-cut odds ballooned this week. Yet, Bitcoin remained tethered to macro headlines rather than its own cycle. Still, the first clear sign of positioning for easier policy has emerged in fund flows. Spot Bitcoin ETFs recorded a net $91.6 million inflow on 7 August, snapping a four-day outflow streak that had drained more than $380 million from the vehicles. Whether Bloomberg’s and Dragosch’s black-swan framing proves prescient will depend on the next few data prints and the Fed’s tolerance for risk. For now the market is caught between those poles: one bad jobs number away from a full-blown policy response, but one more shock away from a broader risk-off spiral. The only certainty, as Wong’s probability math and Dragosch’s full-throated alerts both imply, is that the margin for error has evaporated. At press time, BTC traded at $116,359.