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The broader market is still dragging its feet out of July’s slump, but PUMP is doing what it does best: being a hit Black Eyed Peas song. We tried to make a joke on that song “Pump it”… I promise we’re not all nerds at 99Bitcoins. PUMP jumped 25% this week after a key whale wallet—0x9324—snapped up over $3 million worth. Add in 8.74 billion tokens burned since early August and coordinated buybacks, and you’ve got the recipe for a supply shock. Ethereum’s still sliding, Bitcoin is holding strong and PUMP just broke past resistance. Here’s where it goes next: “Whale accumulation plus supply compression is fueling this move, it’s textbook.” – Market analyst, CryptoQuant (PumpFun) DISCOVER: Top 20 Crypto to Buy in 2025 Pump Price Superapp Rumors Add Fire to the Narrative Behind the PUMP rally is talk of a new “superapp” with wallet integration, mobile features, maybe even full dApp compatibility. It’s all unconfirmed, but the rumors are moving the narrative. Helping the cause is a confirmed 24% airdrop to users worth $800 million at current levels. That’s unusually generous, even by meme token standards. “Even without clarity on the superapp, the airdrop plus the mobile tease is doing all the heavy lifting.” – Solana ecosystem KOL, X Key metrics back the surge: TVL on-chain up 18% Unique wallet activity up 9% Daily token burn peaked at 900M on Aug 6 The setup for PUMP is hot, but it’s only as good as the follow-through. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025 Market Context: PUMP Leads a Quiet Meme Revival The broader crypto market is recovering after a rough start to August. Bitcoin and Ethereum are showing steady 2–3% gains. However, meme coins, especially those on Solana, are experiencing stronger inflows. While ETH hovers near $3,600, and XRP tests $3.00, degens have turned their attention to higher-beta assets like PUMP. Whether the mobile “superapp” materializes or not, the current setup has traders leaning bullish—at least for now. Investors should keep a close eye on $0.0034 resistance and volume spikes around whale wallets. As always in crypto, meme coins are here one day and dead the next. Just like the Black Eyed Peas. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The broader market is still dragging its feet out of July’s slump, but PUMP is doing what it does best and pumping Investors should keep a close eye on $0.0034 resistance and volume spikes around whale wallets. The post Is It Finally Time to PUMP? PUMP Price Analysis Shifts Bullish Amid Bitcoin Strength appeared first on 99Bitcoins.

Bitcoin Cash (BCH) might be back. It may not be stealing headlines, but BCH ▲2.71% but it has picked up speed trading at $564 with volume spiking 73% overnight. Market cap: $11.2 billion. Status: rising from the dead. While a small niche of BCH proponents still believe it will become the largest cryptocurrency in the world, many experts, investors, journalists and members of the crypto community either completely ignore it or openly ridicule it. So, what is Bitcoin Cash really, and is it still relevant in 2025 Bitcoin CashPriceMarket CapBCH$11.46B24h7d30d1yAll time Bitcoin Cash is One of The Only Major Alts Ripping Bitcoin Cash is one of the few majors holding firm while the rest of the altcoin field tests new lows. Currently at $572.23, BCH has posted a clean 17.2% gain over the past month and now stares down a heavy resistance zone near $718.55. Technically, the breakout from a falling wedge on the weekly chart adds fuel to the bullish case. On-chain data backs it up. According to IntoTheBlock’s IOMAP model, more than 334,000 addresses sit in profit just below the current price—forming a thick wall of support around $565.94. That’s not just structure; it’s ammo. If bulls stay in control, BCH could challenge $700 soon and may even test four-digit territory before year’s end. Bitcoin Cash (BCH) is an altcoin created in 2017 as a hard fork of BTC ▲2.04%. When Bitcoin Cash launched, all Bitcoin holders automatically became owners of an amount of BCH equal to their BTC holdings. Because of that, Bitcoin Cash was able to organically gain popularity and become one of the most influential altcoins in the ecosystem. On a technical level, Bitcoin Cash is very similar to the real Bitcoin, with one major difference: it promises to solve the scalability issues of Bitcoin by introducing larger blocks.’ Larger blocks mean that more transactions can be processed per second, which theoretically can mean that BCH would be more efficient as a payment method than BTC. While the block size of Bitcoin is 1MB, Bitcoin Cash increased that amount to 8MB. Block size is controversial for a simple reason: Smaller blocks mean higher decentralization. This is why this idea of BCH was unpopular and rejected by a vast majority of Bitcoin users. DISCOVER: 20+ Next Crypto to Explode in 2025 Will BCH Ever Replace Bitcoin? (X) Bitcoin Cash has managed to gain considerable popularity since its launch in 2017. In fact, BCH was one of the biggest movers in 2021, moving into the top ten cryptocurrencies by market cap. However, Bitcoin Cash still lacks the inertia that Bitcoin possesses. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Bitcoin has become adopted by tech giants, major financial institutions, investment funds. El Salvador became the first country to accept Bitcoin as legal tender and we haven’t seen anything similar for BCH. When someone says Bitcoin, everyone immediately think of BTC, but mybe BCH can have a part to play in the future. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Bitcoin Cash (BCH) might be back. It may not be stealing headlines but we are seeing a comeback. Bitcoin Cash has managed to gain considerable popularity since its launch in 2017. The post Bitcoin Cash: Can It Ever Replace the Real Bitcoin? appeared first on 99Bitcoins.

Overview: After selling off sharply last Friday, the US dollar consolidated on Monday and Tuesday before taking another leg lower yesterday. It remains under pressure today, though it has stabilized in late European morning turnover, though even a dismal German industrial production report was unable to deter the euro from rising to almost $1.17. It bottomed near $1.14 last week. The greenback is softer against most the G10 and emerging market currencies. The prospect of a Bank of England rate cut shortly has not deterred the market from extending sterling's recovery. Three regional Fed presidents (Daly, Cook, and Kashkari) appear to be favoring a September rate cut. US reciprocal tariffs have been implemented, and while India has been hit with an extra 25% tariff for buying Russian oil, China has not and the August 12 deadline for a deal is approaching. News that the US tariffs on semiconductors will not be levied on companies that invest in the US saw Taiwan stocks rally nearly 2.4% today and South Korea's Kospi rose almost 1%. Most of the chips the US imports are embedded into products, but some industries, like autos, may be import chips separately. India's stocks bucked the regional trend but posted small losses (less than 0.2%). Europe's Stoxx 600 is up about 0.75%, which if sustained would be the largest gain in a couple of weeks. US index futures are also enjoying a firmer tone. Bond yields are softer. European benchmark 10-year rates are 1-2 bp lower and the 10-year US Treasury yield is off nearly a basis point to 4.23%. After yesterday's poor reception to the 10-year note sale, the US Treasury is back today, selling $25 bln 30-year bonds and $185 bln in bills. Gold is consolidating now after having approached $3400 earlier today, its best level in two weeks. September WTI settled below $65 yesterday for the first time since July 1. It is in about a $1 range today below $65.10. USD: The Dollar Index was sold to nearly 98.15 yesterday after having been turned back before the weekend, near 100.25. It remains on the defensive today, fraying the 98.00 area. Nearby support is seen around 97.85, which corresponds to the (61.8%) retracement of the DXY rally from the July 1 multi-year low. The line connecting July 1 and July 24 low is near 97.55 today. The five-day moving average may cross below the 20-day moving average in the next day or two. US nonfarm productivity and unit labor costs are not observed directly but are interpolated from the GDP data. That means that productivity recovered from a 1.5% decline in Q1 and unit labor costs cooled after spiking 6.6% in Q1. Wholesale sales and inventories may help economists fine-tune expectations for revisions to Q2 GDP. Perhaps most interesting today are the weekly jobless claims. It is one of the few labor market time series that did not show the weakness of last week's non-farm payroll report. Recall that initial jobless claims fell for six weeks through July 18. The four-week moving average peaked in mid-June (~246k) and in the week through July 25 were 221k, the lowest in three months. EURO: After consolidating the first two sessions this week, the euro took another leg up yesterday, reaching slightly above $1.1670. It approached $1.1700 today. It settled above the 20-day moving average ($1.1630) for the first time since July 25. The daily momentum indicators are poised to turn higher. It surpassed the (61.8%) retracement of last month's decline (~$1.1660). Above there, the trendline off the two highs in July comes in near $1.1765 today and about $1.1755 at the start of next week. The US two-year premium over Germany is near 180 bp. It reached 207 bp in early July. The low for the year was set in March a little more than 165 bp. Following yesterday's poor factory orders (-1.0%), Germany reported a 1.9% drop in industrial output (-0.5% was the median forecast in Bloomberg's survey). And adding insult to injury, May's 1.2% gain was revised to -0.1%. On a workday adjusted basis, German industrial production has fallen 3.6% over the past year. Separately, Germany reported a smaller than expected June trade surplus (14.9 bln euros) amid soft exports (0.8% month-over-month after a 1.4% decline in May) and a rebound in exports (4.2% vs.-3.9% in May). There is risk that the initial German Q2 GDP (-0.1%) is revised lower. CNY: The dollar hit a wall in the past three sessions slightly above CNH7.1955. The broader dollar pullback weighed on it, and the greenback was sold to around CNH7.1835, a new session low yesterday in the North American afternoon. It approached the lower end of this week's range extends CNH7.1765-75. The PBOC set the dollar's reference rate at CNY7.1345 (CNY7.1366 yesterday), which is the lowest since last November. China's July trade surplus narrowed more than expected to $98.2 bln from $114.75 bln in June. Exports rose 7.2 year-over-year (5.9% in June), and imports rose 4.1% (1.1% in June). In the first seven months of the year, China recorded a trade surplus of about $684 bln. In the January-July 2024 period, the trade surplus was around $521 bln. China found other sources of demand to replace the US, but, as we have argued, the US is finding it difficult to replace Chinese supply (e.g., rare earths for defensive and EV battery technology). Exports to the US fell 22% year-over-year (-16% in June) The US is saying it is close to a trade deal with China, which appears to be a pre-condition to a Trump-Xi meeting. JPY: The dollar was turned back from the 20-day moving average yesterday (~JPY147.85) despite the firmer US yields after the 10-year note auction tailed (high yield at the auction was above what was prevailing in the when-issued market). It fell to around JPY147 in the North American afternoon yesterday, and the losses were extended to JPY146.70 today. The five-day moving average has pushed below the 20-day moving average for the first time in about a month. Provided the JPY148 are continues to act as a cap, Tuesday's low slightly above JPY146.60 is the next immediate target, and the JPY145.85 area corresponds with the (61.8%) retracement of last month's rally and the July 24 low. A convincing break of that area could signal a test on the trendline drawn from the April and July low, seen near JPY144 tomorrow. Note that the Japanese government cut this fiscal year's growth forecast to 0.7% from 1.2%, partly reflecting the new US tariff regime. GBP: Sterling reached a high around $1.3310 last Friday after the poor US jobs report. It reached nearly $1.3370 yesterday, which is where the (50%) retracement is found of sterling's last leg lower from the July 24 high (~$1.3590). It edged up to $1.3380 today. The $1.3390-$1.3420 area contains other retracement objectives and the 20-day moving average. The trendline connecting last month's two highs is found near $1.3465 tomorrow, which is also the (50%) retracement of last month's losses. There is practically no doubt in the market that the Bank of England will cut its base rate by 25 bp today to 4.00%. It will be the third cut this year following two last year. The swaps market is anticipating another cut in Q4. It has slightly less than a 2/3 chance of cut in Q1 26. The terminal rate is seen between 3.25% and 3.50%. CAD: We often see the Canadian dollar performing relatively better in a firm US dollar environment and weaker in a soft dollar environment. To wit: CAD was the weakest of the G10 currencies in H1, rising by about 5.5% against the US dollar. In July, when the greenback was squeezed higher, the Canadian dollar was the best performing G10 currency (~-1.80%). In yesterday's weaker US dollar environment, the Canadian dollar was a laggard with about a 0.25% gain. Only the Swiss franc, among the G10 currencies performed worse, rising by about 0.15%. The US dollar, which reversed lower from about CAD1.3880 at the end of last week, fell to almost CAD1.3730 yesterday. It made a marginal new low today closer to CAD!.3720. The 20-day moving average and the (50%) retracement of the US dollar gains from the July 23 low (~CAD1.3575) are found in around CAD1.3725. Additional support may be encountered in the CAD1.3690-CAD1.3700 area. Canada sees the July IVEY survey ahead of tomorrow employment report. The IVEY survey tends to run hotter than the PMI. It averaged 51.23 in Q1 and 50.03 in Q2, which was the lowest quarterly average since Q2 20. The composite PMI has not been above 50 this year. It averaged 43.8 in Q2 and 46.1 in Q2. AUD: The Australian dollar extended its recover begun at the end of last week. It reached near $0.6510 yesterday, a five-day high. It overshot the (38.2%) retracement of its losses from the year's high recorded on July 24 (~$0.6625). Today, it surpassed the (50%) retracement and the 20-day moving average around near $0.6520 to reach $0.6540. The (61.8%) retracement is about $0.6245. Australia's June trade surplus widened to A$5.37 bln after a revised A$1.60 bln (initially A$2.24 bln) in May, the smallest surplus since 2018. Exports jumped 6%, while imports fell by 3.1%. The H1 25 surplus was about A$24.15 bln, around a quarter lower than in H1 24. Exports have fallen by an average of about 0.6% a month in H1 25 and fell by an average of 0.7% in H1 24. Imports rose by an average of 0.1% a month in H1 25, compared with a 1.1% average monthly increase in H1 24. MXN: The US dollar fell for the second consecutive session against the Mexican peso and the fourth session in the past five. It approached MXN19.00 at the end of last week and yesterday reached nearly MXN18.58. The dollar is pinned in a narrow MXN18.59-MXN18.6170 range today, which is an important day for Mexico. Mexico will see July CPI figures shortly and late today the central bank is expected to cut the overnight rate by 25 bp to 7.75%. The year-over-year headline rate is expected to have fallen for the second consecutive month and ease back into the 3% +/- 1% target range. The median forecast in Bloomberg's survey is for a 3.54% year-over-year rate. It so, it would match the lowest since the end of 2020. The core rate is firmer but is expected to moderate slightly after rising every month in Q2. The swaps market sees the terminal rate Mexico to be 7.50%, with a risk of 7.25%. The central bank may offer cautious forward guidance and barring a surprise, there is little to stop the dollar from testing the low for the year set last month near MXN18.51. We still think a move to MXN18.40 is still a reasonable target. Disclaimer

The FTSE 100 edged higher this morning ahead of the highly anticipated Bank of England (BoE) interest rate meeting. Read More: Bank of England (BoE) Meeting Preview: Job Market Holds the Key as 25 bps Cut Looms Markets are expecting a rate cut from the BoE today which could help propel the FTSE 100 to fresh all-time highs, Looking at a sector breakdown for the FTSE and consumer non-cyclicals leads the way with gains of 0.23% with only consumer cyclicals, financials,and technology (marginal) in the green as well. All other sectors are in the red at the time of writing. Source: LSEG Looking at companies, BAE Systems and Hikma Pharmaceuticals are weighing on the index with losses of 4.1% and 7.1% respectively. This was however offset thanks to significant gains from the Intercontinental Hotel Group which is trading around 7.% higher on the day. In other news, Halifax data was released this morning and showed UK house prices went up by 0.4% in July, the biggest monthly increase this year, helped by lower mortgage rates making homes more affordable. Technical Analysis - FTSE 100 From a technical standpoint, the FTSE has been rangebound since July 23. Having broken above crucial resistance at 9048 the index has held above this level with previous attempts to break lower met with significant buying pressure. Such an example occurred on Friday last week and saw the index find support at the 200-day MA on the H2 chart. Price is currently reston on the 100-day MA and attempts to push higher have thus far stalled. Immediate resistance is at 9144 before the 9157 and 8183 handles come into focus. Looking at the downside picture, support may be found at 9120 before 9082 and 9048 come into view. FTSE 100 (UK100) H2 Chart, August 7, 2025 Source: TradingView (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.

When you hold a Saint-Gaudens Double Eagle in your hand, you’re not just holding a piece of gold—you’re holding a masterpiece born from ambition, artistry, and a pivotal era in American history. It’s not hyperbole to say this coin changed everything. Some call it the most beautiful coin the U.S. has ever produced. But what’s the story behind this legendary gold piece? And why has it captivated collectors and investors for over a century? Let’s take a walk through history to discover what makes the Saint-Gaudens Double Eagle a true American treasure. A President’s Vision: Theodore Roosevelt’s “Pet Crime” At the dawn of the 20th century, President Theodore Roosevelt wasn’t content with America’s coinage. He thought U.S. coins looked uninspired, even boring. And he was right. Compared to the classical coins of ancient Greece, American coins lacked artistry. So Roosevelt set out on a mission to change that. In 1905, he reached out to Augustus Saint-Gaudens, one of the most celebrated sculptors of the era, and asked him to redesign America’s gold coins. Roosevelt famously called the project his “pet crime,” and he was deeply involved in seeing it through. The result was the Saint-Gaudens Double Eagle, a $20 gold coin that redefined American coinage forever. The Artist Behind the Icon Saint-Gaudens was no ordinary artist. He was already famous for his monuments and sculptures, like the Robert Gould Shaw Memorial in Boston and the Standing Lincoln in Chicago. But he had never designed a coin before. That didn’t stop him. Saint-Gaudens took inspiration from ancient Greek coinage and classical sculpture to design a gold coin that embodied liberty, strength, and optimism. He wanted the coin to reflect the spirit of America at its peak, a young, growing nation bursting with energy. The result? A breathtaking obverse featuring Lady Liberty striding forward with a torch in one hand and an olive branch in the other. Her flowing robes and commanding stance evoke both classical beauty and national power. Behind her, rays of sunlight explode across the background, while the U.S. Capitol building sits at her feet. The reverse side of the coin is just as stunning. A bold American eagle soars across the sky at sunrise, symbolizing freedom and flight toward a bright future. A Coin Like No Other The Saint-Gaudens Double Eagle wasn’t just a visual triumph. It was also a technical challenge. Saint-Gaudens originally designed the coin in ultra high relief, which made the design stand out in near-sculptural detail. The problem? It was nearly impossible to mass-produce. Each ultra-high relief coin required multiple strikes to bring out the full depth of the design. While a few dozen of these magnificent pieces were struck in 1907, they proved too impractical for regular use. The U.S. Mint had to modify the design to lower relief versions, which still maintained incredible beauty but could be produced more efficiently. The first circulating Saint-Gaudens Double Eagles were minted in 1907, and production continued with some design tweaks until 1933. The 1933 Mystery: The Coin That Wasn’t Meant to Be Here’s where the story takes a dramatic turn. In 1933, during the Great Depression, President Franklin D. Roosevelt issued Executive Order 6102, effectively outlawing private gold ownership in the U.S. The government wanted to stabilize the economy and pull gold out of circulation. Although over 445,000 Saint-Gaudens Double Eagles were struck at the Philadelphia Mint that year, none were officially released for circulation. The coins were supposed to be melted down, and most were. But somehow, a few 1933 Double Eagles slipped through the cracks. For decades, they became the stuff of legend, popping up in private collections and sparking legal battles between the U.S. government and collectors. One of these coins made headlines in 2002 when it sold at auction for $7.59 million. Another broke records again in 2021, selling for an astounding $18.9 million, becoming the most expensive coin ever sold. These 1933 Double Eagles are more than rare. They’re iconic, mysterious, and wrapped in controversy. And they’ve only added to the legend of the Saint-Gaudens design. A Favorite Among Collectors and Investors The Saint-Gaudens Double Eagle isn’t just a pretty face. It’s also a favorite for gold investors and numismatists alike. Containing nearly one full ounce of gold (0.9675 troy oz), the coin has intrinsic value tied to the price of gold. But unlike modern bullion coins, Saint-Gaudens Double Eagles also carry historic and collectible premiums. Their value isn’t just based on gold weight. It’s shaped by the coin’s condition, mint year, and rarity. That’s why a circulated example might fetch a modest premium over melt value, while a rare date or mint state piece can command thousands or even millions of dollars. Why the Saint-Gaudens Double Eagle Still Matters What makes this coin so special, even today? It’s more than beauty. More than gold. The Saint-Gaudens Double Eagle tells a uniquely American story. It’s a story of art pushing boundaries, of presidents with bold visions, of economic upheaval and recovery. It’s a coin that came from a golden age, both literally and figuratively, and continues to shine more than 100 years later. Collectors chase it for its design. Investors seek it for its gold content. Historians admire it for what it represents: a moment in time when America set out to elevate even the smallest objects, like pocket change, into something extraordinary. Final Thoughts Whether you’re a seasoned collector or just starting your journey into rare coins and precious metals, the Saint-Gaudens Double Eagle deserves a spot on your radar. It’s the kind of coin that doesn’t just sit in a display case. It starts conversations, inspires awe, and connects you to a pivotal chapter in American history. If you’re looking to add this iconic coin to your collection or want to explore other rare gold coins, reach out to a reputable dealer with experience in high-grade numismatics. At Blanchard, we’ve helped clients secure exceptional pieces like the Saint-Gaudens for over 50 years. Let us help you find yours. The post The Saint-Gaudens Double Eagle: America’s Most Beautiful Coin and the Story It Tells appeared first on Blanchard and Company.

When you hold a Saint-Gaudens Double Eagle in your hand, you’re not just holding a piece of gold—you’re holding a masterpiece born from ambition, artistry, and a pivotal era in American history. It’s not hyperbole to say this coin changed everything. Some call it the most beautiful coin the U.S. has ever produced. But what’s the story behind this legendary gold piece? And why has it captivated collectors and investors for over a century? Let’s take a walk through history to discover what makes the Saint-Gaudens Double Eagle a true American treasure. A President’s Vision: Theodore Roosevelt’s “Pet Crime” At the dawn of the 20th century, President Theodore Roosevelt wasn’t content with America’s coinage. He thought U.S. coins looked uninspired, even boring. And he was right. Compared to the classical coins of ancient Greece, American coins lacked artistry. So Roosevelt set out on a mission to change that. In 1905, he reached out to Augustus Saint-Gaudens, one of the most celebrated sculptors of the era, and asked him to redesign America’s gold coins. Roosevelt famously called the project his “pet crime,” and he was deeply involved in seeing it through. The result was the Saint-Gaudens Double Eagle, a $20 gold coin that redefined American coinage forever. The Artist Behind the Icon Saint-Gaudens was no ordinary artist. He was already famous for his monuments and sculptures, like the Robert Gould Shaw Memorial in Boston and the Standing Lincoln in Chicago. But he had never designed a coin before. That didn’t stop him. Saint-Gaudens took inspiration from ancient Greek coinage and classical sculpture to design a gold coin that embodied liberty, strength, and optimism. He wanted the coin to reflect the spirit of America at its peak, a young, growing nation bursting with energy. The result? A breathtaking obverse featuring Lady Liberty striding forward with a torch in one hand and an olive branch in the other. Her flowing robes and commanding stance evoke both classical beauty and national power. Behind her, rays of sunlight explode across the background, while the U.S. Capitol building sits at her feet. The reverse side of the coin is just as stunning. A bold American eagle soars across the sky at sunrise, symbolizing freedom and flight toward a bright future. A Coin Like No Other The Saint-Gaudens Double Eagle wasn’t just a visual triumph. It was also a technical challenge. Saint-Gaudens originally designed the coin in ultra high relief, which made the design stand out in near-sculptural detail. The problem? It was nearly impossible to mass-produce. Each ultra-high relief coin required multiple strikes to bring out the full depth of the design. While a few dozen of these magnificent pieces were struck in 1907, they proved too impractical for regular use. The U.S. Mint had to modify the design to lower relief versions, which still maintained incredible beauty but could be produced more efficiently. The first circulating Saint-Gaudens Double Eagles were minted in 1907, and production continued with some design tweaks until 1933. The 1933 Mystery: The Coin That Wasn’t Meant to Be Here’s where the story takes a dramatic turn. In 1933, during the Great Depression, President Franklin D. Roosevelt issued Executive Order 6102, effectively outlawing private gold ownership in the U.S. The government wanted to stabilize the economy and pull gold out of circulation. Although over 445,000 Saint-Gaudens Double Eagles were struck at the Philadelphia Mint that year, none were officially released for circulation. The coins were supposed to be melted down, and most were. But somehow, a few 1933 Double Eagles slipped through the cracks. For decades, they became the stuff of legend, popping up in private collections and sparking legal battles between the U.S. government and collectors. One of these coins made headlines in 2002 when it sold at auction for $7.59 million. Another broke records again in 2021, selling for an astounding $18.9 million, becoming the most expensive coin ever sold. These 1933 Double Eagles are more than rare. They’re iconic, mysterious, and wrapped in controversy. And they’ve only added to the legend of the Saint-Gaudens design. A Favorite Among Collectors and Investors The Saint-Gaudens Double Eagle isn’t just a pretty face. It’s also a favorite for gold investors and numismatists alike. Containing nearly one full ounce of gold (0.9675 troy oz), the coin has intrinsic value tied to the price of gold. But unlike modern bullion coins, Saint-Gaudens Double Eagles also carry historic and collectible premiums. Their value isn’t just based on gold weight. It’s shaped by the coin’s condition, mint year, and rarity. That’s why a circulated example might fetch a modest premium over melt value, while a rare date or mint state piece can command thousands or even millions of dollars. Why the Saint-Gaudens Double Eagle Still Matters What makes this coin so special, even today? It’s more than beauty. More than gold. The Saint-Gaudens Double Eagle tells a uniquely American story. It’s a story of art pushing boundaries, of presidents with bold visions, of economic upheaval and recovery. It’s a coin that came from a golden age, both literally and figuratively, and continues to shine more than 100 years later. Collectors chase it for its design. Investors seek it for its gold content. Historians admire it for what it represents: a moment in time when America set out to elevate even the smallest objects, like pocket change, into something extraordinary. Final Thoughts Whether you’re a seasoned collector or just starting your journey into rare coins and precious metals, the Saint-Gaudens Double Eagle deserves a spot on your radar. It’s the kind of coin that doesn’t just sit in a display case. It starts conversations, inspires awe, and connects you to a pivotal chapter in American history. If you’re looking to add this iconic coin to your collection or want to explore other rare gold coins, reach out to a reputable dealer with experience in high-grade numismatics. At Blanchard, we’ve helped clients secure exceptional pieces like the Saint-Gaudens for over 50 years. Let us help you find yours. The post The Saint-Gaudens Double Eagle: America’s Most Beautiful Coin and the Story It Tells appeared first on Blanchard and Company.

Ripple Labs formally pushed back against a new US Senate draft bill – the Responsible Financial Innovation Act of 2025 – aimed at regulating the cryptocurrency market. The company behind the XRP Ledger warned that the proposed legislation could grant the Securities and Exchange Commission (SEC) excessive and indefinite power over major digital assets. In a detailed response submitted on 5 August 2025, Ripple argued that the bill in its current form would create more confusion than clarity. The company warned that the bill could stifle innovation and subject established tokens like XRP, Ethereum (ETH), and Solana (SOL) to perpetual regulatory oversight. “The draft creates more ambiguity than clarity for the industry in its attempt to delineate SEC jurisdiction over digital assets,” said Ripple. “It brings most tokens and projects into an SEC-administered gatekeeping and disclosure regime, even when sales or project activity fall outside the SEC’s traditional scope.” DISCOVER: 10+ Crypto Tokens That Can Hit 1000x in 2025 Current Definition of “Ancillary Asset” Risks Significant Regulatory Overreach Ripple, with first-hand experience of being in high-stakes legal battle with the SEC, claims that the bill contains vague language and could be manipulated by regulators to expand their authority. “The current definition of “ancillary asset” risks significant regulatory overreach because it effectively presumes that any token once offered in connection with an investment contract places future transactions of that token by the “originator” under SEC jurisdiction—indefinitely,” the company stated. Ripple’s Chief Legal Officer, Stuart Alderoty, contends that the SEC’s authority should be strictly limited to the specific transaction that qualifies as an investment contract under the Howey Test. The proposed bill would allow the SEC to use a token’s historical sale as a pretext to regulate all future transactions on secondary markets. Alderoty said that the draft provides a “backdoor to assert jurisdiction over present-day transactions based on conduct that is either irrelevant to the transaction at issue or barred from enforcement by fundamental legal protections.” Explore: XRP Just Hit All Time High: Ripple Crypto Touched $3.65 Before Retracing Back XRP ATH: Ripple Touched $3.65 In July Before Retracing XRP hit an all-time high of $3.65 on the 18th of July before cooling off slightly to around $3.46. That puts it above its 2018 peak and firmly back in the spotlight. It’s not just retail euphoria pushing this one. Institutional interest this time looks stronger, with XRP ▲1.27% overtaking Tether to become the third biggest crypto by market cap. Trading volume went parabolic into tens of billions, something you cannot see every day. After years of dormancy and courtroom drama, XRP just silenced all skeptics with an all-time high power move. On the 18th of July, 2025, XRP hit $3.65, finally topping the $3,40 record from back in 2018. Although the coin retraced, this rally wasn’t some fluke by any means. Market data shows XRP’s spot volume surged to $20 billion, with derivatives clocking in over $46 billion. This is a 135% surge for the spot and a 162% for the derivatives. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 Key Takeaways Ripple’s concerns extend beyond just token classification. The company urged lawmakers to provide clear rules on which core blockchain activities—such as staking, mining, and participating in governance—should be regulated as securities. Given its decade-long experience navigating the murky waters of US crypto regulation, Ripple stated it is in a prime position to weigh in on the proposed legislation. The post Ripple Warns Senate: The New Crypto Bill Could Enable SEC “Overreach” appeared first on 99Bitcoins.

Leading influencer Ansem crypto is in the news due to unconfirmed reports that he has been arrested. The claims have been exacerbated by the X AI chatbot, Grok, who seems to be spreading the rumors when asked, “Who is Ansem?”. Ansem, who goes by @blknoiz06 on X, hasn’t posted on the site since July 30, which has been the main reason for the jail rumors. So as of right now, it seems that Ansem crypto is safe and well on vacation and not in jail on charges of soliciting male prostitution, causing a car crash, or any of the other wild rumors that have been reported over the past 48 hours. Before long, the infamous crypto influencer will likely be back on social media, posting about the latest meme coin narrative as he looks to call the next Dogwifhat (WIF) with yet another 1000X+ runner. EXPLORE: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates The post What Happened to Ansem Crypto? Has Blknoiz06 Really Been Arrested? appeared first on 99Bitcoins.

Paolo Ardoino, chief executive officer of stablecoin issuer Tether, has called Bitcoin “undefeatable” in a recent X post. The bold claim comes as markets wobble and digital assets face fresh downward pressure. Bitcoin’s price action has been muted this week, but Ardoino’s comment has stirred up plenty of talk among traders and analysts. Tether’s Bitcoin Holdings Grow According to reports, Tether has boosted its Bitcoin stash to nearly 80,000 BTC. That holding is worth more than $9 billion at current rates. The company’s steady buying suggests it sees deep value in Bitcoin even when prices slide. In recent weeks, Tether’s balance sheet has leaned heavily on the world’s oldest crypto asset. Some market watchers say that kind of commitment from a major player could shore up confidence in Bitcoin’s long-term prospects. Supporters have jumped in to back Ardoino’s take, pointing to Bitcoin’s history of bouncing back after big sell-offs. Based on reports from crypto forums and social feeds, many believe that only severe, lasting shocks can truly move the price for long. Yet others caution that calling any asset “undefeatable” risks lulling investors into a false sense of security. They warn that new technologies could emerge and challenge Bitcoin’s top spot in years ahead. Technical Warning From Bollinger Meanwhile, John Bollinger, the creator of the Bollinger Bands charting tool, issued a note on X about a possible “head fake” in Bitcoin’s price. He pointed out a Bollinger Band squeeze that briefly pushed Bitcoin down to $111,900 on Aug. 3, only for it to snap back up to $115,700. That sudden U-turn trapped many bears who bet on further declines. Bollinger also said the same pattern doesn’t show up on crypto ETFs, since those funds don’t trade on weekends. Borrowed from basketball, the term “head fake” describes an asset that surges one way and then reverses course, catching traders by surprise. Bitcoin closed most sessions near the $115,000 mark this week, with Bitstamp data showing it trading at $115,200 at one point. The coin has edged up slightly over the past 24 hours, but volatility remains a factor. Traders note that weekend gaps and low liquidity can trigger sharp moves in either direction. Market Participants Weigh In Analysts and fund managers are parsing both the bullish spin from Tether’s boss and the caution flag from Bollinger’s camp. Some say Bitcoin’s track record in the past decade—including weathering regulatory clampdowns, global economic shocks, and high-profile exchange failures—earns it the right to such bold labels. Others argue that blind faith alone won’t protect investors from sudden market swings. Featured image from Meta, chart from TradingView

Today, the Bank of England (BoE) is set to cut its short-term policy interest rate by 25 basis points to 4%, its lowest level in over two years, based on consensus expectations. It will be the BoE’s second rate cut this year, as several of its Monetary Policy Committee members were cautious over a sticky inflationary trend that overshadowed growth concerns. The latest core inflation rate in the UK jumped to 3.7% y/y in June, surpassing May’s print of 3.5%, and market expectations of 3.5%. Since the current inflation print is close to double the central bank's 2% target, the MPC is expected to leave in place guidance steering markets toward more “gradual and careful” interest-rate cuts and a meeting-by-meeting approach. Let’s now focus on a short-term technical trading set-up on the EUR/GBP cross ahead of the BoE’s monetary policy decision today. Fig. 1: EUR/GBP minor trend as of 7 Aug 2025 (Source: TradingView) Preferred trend bias (1-3 days) The recent minor corrective decline of 145 pips seen in the EUR/GBP from the 25 July high to the 31 July low is likely to have ended. A potential bullish impulsive up move sequence is unfolding that supports EUR outperformance over GBP within its medium-term uptrend phase. Bullish bias with 0.8700/8680 as the key short-term pivotal support for the next intermediate resistances to come in at 0.8740/8770, 0.8800, and 0.8860 (Fibonacci extension and upper boundary of the medium-term ascending channel from 24 February 2025) (see Fig. 1). Key elements The price actions of the EUR/GBP have reintegrated back above its upward sloping 20-day and 50-day moving averages, which suggests the medium-term uptrend phase remains intact.Its hourly RSI momentum indicator has continued to exhibit a bullish momentum condition that advocates short-term EUR outperformance over GBP.The discount yield spread between the 2-year German Bund and 2-year UK Gilt has narrowed from -2.08% to -1.92% which suggests that short-term sovereign bonds in the UK are getting “less attractive” to own than Germany’s short-term sovereign bonds. A positive driver of further potential upside in EUR/GBP.Alternative trend bias (1 to 3 days) A break below 0.8680 negates the bullish tone, where the EUR/GBP may see a minor slide to retest the next intermediate supports of 0.8640 and 0.8610/8600 (31 July 2025 minor swing low and 50-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.

Roman Storm, one of the minds behind Tornado Cash, has been found guilty by a Manhattan jury for running an unlicensed money transmitting business. The decision came after four weeks of testimony and debate. The charge alone could land him behind bars for up to five years. But this was just one part of a much bigger legal battle, and the rest of it isn’t over yet. Jury Deadlocks on the Bigger Accusations Storm was also facing accusations of money laundering and violating U.S. sanctions, but the jury couldn’t reach a verdict on those. Both of those charges come with much heavier consequences, up to 20 years each if convicted. Since no final decision was reached, prosecutors may decide to bring those charges back to court for a retrial. His sentencing for the conviction that did go through hasn’t been scheduled yet. Prosecutors Say Storm Helped Criminals Cover Their Tracks Federal prosecutors didn’t pull punches. They argued that Tornado Cash wasn’t just a privacy tool, but a direct pipeline for dirty money to be cleaned. According to them, over a billion dollars moved through the mixer, much of it tied to criminals, scammers, and even North Korea’s Lazarus Group. The message from the government was clear: you can’t build a tool and turn a blind eye when it gets used by the worst actors online. DISCOVER: Best New Cryptocurrencies to Invest in 2025 The Defense Says It Was Just Code Storm’s lawyers pushed back hard, arguing that he simply wrote code and published it as open-source software. In their view, it was no different than someone writing a tool that could be used for good or bad, and then stepping away from it. They said Storm never had control over who used it or for what purpose and wasn’t personally profiting from any of the activity prosecutors pointed to. BitcoinPriceMarket CapBTC$2.29T24h7d30d1yAll time Evidence Painted a Complicated Picture During the trial, prosecutors brought out forensic data and witness testimony that tied Tornado Cash to stolen crypto. One scammer testified that he used it to launder NFT proceeds. They even showed jurors Tornado Cash t-shirts with cartoon washing machines on them, hinting at the platform’s use as a digital money launderer. But despite all that, jurors still couldn’t unanimously say Storm was guilty of laundering or breaking sanctions. DISCOVER: 20+ Next Crypto to Explode in 2025 Big Implications for Developers The outcome has sparked a new wave of anxiety among developers. If building open-source tools can lead to prison time, where do you draw the line? Plenty of crypto apps and protocols can be used for shady purposes, but are devs on the hook if bad actors show up? This case is adding fuel to a much bigger conversation about how far legal responsibility extends in decentralized environments. Just One Case in a Larger Crackdown Storm isn’t the only one under fire. His fellow Tornado Cash developer, Alexey Pertsev, was convicted earlier this year in the Netherlands. And in the U.S., the people behind the Samourai Wallet mixer recently pleaded guilty to laundering hundreds of millions in illicit crypto. Regulators and law enforcement clearly aren’t letting this stuff slide anymore. What Comes Next Storm now faces sentencing, plus the possibility of another trial for the unresolved charges. His legal team plans to challenge the outcome. Whether or not the government retries the heavier counts, this case will likely stay in the spotlight. It’s become a benchmark for how the justice system approaches tools built for privacy but used by criminals. And for now, the line between developer and enabler remains blurred. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Tornado Cash co-founder Roman Storm was convicted of operating an unlicensed money transmitting business and faces up to five years in prison. The jury could not reach a verdict on the more serious charges of money laundering and sanctions violations, which may be retried later. Prosecutors argued that Tornado Cash helped criminals, including North Korea’s Lazarus Group, launder over $1 billion in crypto. Storm’s defense maintained he simply wrote and published open-source code, without controlling or profiting from how it was used. The verdict has raised serious concerns for crypto developers about potential legal risks when building privacy tools used by bad actors. The post Tornado Cash Founder Convicted of Unlicensed Money Transmitting appeared first on 99Bitcoins.

The search for the best crypto to buy right now continues as the market sends mixed signals. Bitcoin is hovering around $115,000, stuck in a low-volume zone between $110K and $116K. Traders are watching this tight range closely, as a break lower could trigger more downside. Meanwhile, Ethereum briefly broke above $3,700 before pulling back, adding to the market’s uncertain tone. But there is more. Some sectors are holding up better than others. Layer 2 tokens like Mantle jumped more than 20% in the last week, while centralized exchange tokens such as BNB and CRO posted modest gains. On the other hand, meme coins, PayFi projects, and AI tokens saw losses, showing less confidence from investors. ETF activity has started to turn positive again. On August 6, U.S. spot Bitcoin ETFs saw $91.55 million in net inflows after four days of outflows. Ethereum ETFs also recorded $35.12 million in net inflows, with only Grayscale’s ETH Mini Trust posting a small outflow. EXPLORE: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Binance released its latest Proof of Reserves report, showing user BTC holdings increased by nearly 3% to 591K BTC. ETH holdings, however, dropped by almost 10%, possibly due to rotation into other assets. USDT balances rose to nearly $30 billion, signaling steady stablecoin demand. Ethereum network activity is also heating up. The network handled 1.87 million transactions yesterday, close to its all-time high. According to Nansen, much of this activity comes from USDC, Tether, and Uniswap. (Source) Best Crypto to Buy? Look Where Activity Is Growing In this uncertain environment, we still can ask ourselves: what’s the best crypto to buy right now? For now, Layer 2 tokens and CeFi coins are showing strength, backed by growing usage and investor interest. While Bitcoin remains range-bound, altcoins tied to real network activity or ETF momentum may offer the best short-term setups. Still, caution is key. Until Bitcoin breaks above $116,000 with conviction, gains could be short-lived. Watching sector rotation and inflows will be critical in spotting the next strong move. 38 minutes ago Union Jack Oil Eyes Early Bitcoin Mining at West Newton Site By Fatima Union Jack Oil plc has announced early-stage plans to monetize gas from its West Newton site (PEDL183) by powering on-site Bitcoin mining operations. Operator Rathlin Energy has signed a non-binding Letter of Intent with Texas-based 360 Energy Inc. to explore the deployment of gas-powered data centers. This strategy would convert natural gas from the WNA-2 well into electricity for mining Bitcoin, offering early cash flow ahead of full field development. The companies are now working toward a definitive agreement, pending regulatory approval. Executive Chairman David Bramhill called the plan a creative solution amid planning delays, with potential to deliver strong returns and support a future Bitcoin treasury strategy. West Newton holds an estimated 200 billion cubic feet of recoverable gas, making it one of the UK’s largest onshore gas prospects. 2 hours ago Delhi High Court Tells WazirX To Hand Over Binance Deal By Fatima The Delhi High Court has ordered Zettai Pte Ltd, the company behind crypto exchange WazirX, to hand over documents detailing its agreement with Binance, as well as its ongoing restructuring plan. The court gave a deadline of one week. This comes after months of fallout from a $235 million hack and a growing number of lawsuits from creditors trying to recover lost funds. Now creditors demand answers after major breach. Read The Full Article Here The post [LIVE] Latest Crypto News, August 7 – Mixed Signals From The Market As BTC Hovers Around $115K Is There a Best Crypto to Buy Right Now? appeared first on 99Bitcoins.

The Delhi High Court has ordered Zettai Pte Ltd, the company behind crypto exchange WazirX, to hand over documents detailing its agreement with Binance, as well as its ongoing restructuring plan. The court gave a deadline of one week. This comes after months of fallout from a $235 million hack and a growing number of lawsuits from creditors trying to recover lost funds. Creditors Demand Answers After Major Breach The pressure to come clean has been building since the 2024 security breach that left users reeling. Creditors have argued that without clear information about who owns what and how the company plans to move forward, there’s no way to properly assess how users might get their money back. The court’s ruling signals a turning point, forcing the company to show its hand. Singapore Greenlights Revote on Recovery Plan This court order follows a separate decision in Singapore, where the High Court there approved a revote on WazirX’s proposed restructuring plan. The original plan had been rejected, but after revisiting creditor concerns, a revised version was put up for another vote. That process ran from July 30 to August 6, with expanded creditor participation. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in August2025 Call for Deeper Investigation Into the Hack Some creditors are asking for more than just disclosure. They want an independent investigation, led by financial and cybercrime specialists, to look into how the hack happened and whether any internal failures played a role. There’s also a push for international regulators to get involved to trace the movement of stolen assets and hold relevant parties accountable. BitcoinPriceMarket CapBTC$2.29T24h7d30d1yAll time The court didn’t stop at Zettai. It also directed Indian regulators, including the Reserve Bank of India and the Securities and Exchange Board of India, to clarify whether they’ve taken any action against WazirX. The move highlights the lack of regulatory clarity that continues to plague the crypto space, especially when large sums and cross-border ties are involved. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Binance Connection Still Clouded in Uncertainty The elephant in the room remains Binance. Despite WazirX being closely associated with the global exchange for years, Binance has publicly denied owning or controlling it. Now, with the court asking for the actual terms of their agreement, we may finally get a clearer picture of what that relationship really looks like. User advocates welcomed the court’s ruling, saying it’s about time someone demanded transparency. When millions go missing and no one takes responsibility, public trust erodes fast. This case is being closely watched by legal experts and regulators, who see it as part of a larger pattern of holding crypto platforms accountable. The court will meet again on August 26 to review progress. By then, regulators are expected to submit their responses, and results from the restructuring vote should be in. All eyes will be on how WazirX plans to resolve its obligations and rebuild trust after a high-profile collapse. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Delhi High Court orders WazirX to submit Binance deal documents within a week, escalating legal pressure on the exchange. The ruling follows creditor frustration after a $235M hack and a lack of clarity around ownership, restructuring, and user fund recovery. Singapore’s High Court approved a revote on WazirX’s restructuring plan after creditor objections to the original proposal. Creditors are calling for an independent investigation into the hack, including potential internal failures and global asset tracing. India’s regulators have been asked to report their actions against WazirX, as the court pushes for accountability and transparency. The post Delhi High Court Tells WazirX To Hand Over Binance Deal appeared first on 99Bitcoins.

Jack Mallers, founder and CEO of Strike, ignited fresh debate over Washington’s still-undisclosed Bitcoin balance on Wednesday night, arguing that the US government is withholding the numbers because its position is “too small to lead” the digital-asset economy. “The US won’t disclose their BTC holdings. Why? Because they realized they don’t own enough,” Mallers posted on X, adding that the Strategic Bitcoin Reserve (SBR) race is “far from over” and “I expect this to heat up.” US Bitcoin Silence Hints At Bigger Problem In a video attached to the post, the 30-year-old entrepreneur expanded on the point. He praised the administration’s decision in March to create an SBR but said the follow-through has fallen short: “The US government has kind of let us down in not giving us the full audit of how much Bitcoin the US government owns. … Clearly that information is sensitive or else they would disclose it. … I think that the US government is ashamed of its Bitcoin position.” President Donald Trump’s Executive Order 14233 on 6 March formally established the Strategic Bitcoin Reserve alongside a broader Digital Asset Stockpile, framing Bitcoin as a “unique store of value in the global financial system.” A follow-up White House fact sheet stressed the goal of “positioning the United States as a leader among nations in government digital-asset strategy.” Yet when the administration unveiled its 163-page digital-assets strategy on 30 July, the document offered only a fleeting reference to the SBR and no hard figures. Robert “Bo” Hines—executive director of the President’s Council of Advisers on Digital Assets—noted, “I can’t discuss that right now … There are several reasons we’re not disclosing that at this time.” Over the past months, Hines’ tone was not apologetic. “We want as much Bitcoin as we can possibly get, and we’re going to continue to work on that,” he said in a separate interview, describing Bitcoin as “digital gold”. For years analysts believed the US government controlled well over 200,000 BTC thanks to Silk Road, Bitfinex-hack and other forfeitures. But a Freedom of Information Act response released in mid-July showed the US Marshals Service holding just 28,988 BTC—about $3.3 billion at today’s prices—rekindling speculation that earlier administrations quietly liquidated a large share of the trove. Separate on-chain data confirm that federal wallets sent 30,175 BTC to Coinbase Prime as early as April 2024, with additional transfers worth $1.9 billion following in December 2024. Mallers seized on those numbers. “I think the Democrats sold off a bunch of that Bitcoin, and they don’t want to announce anything until they can build the position back,” he said, calling the audit delay “a branding problem” for a country that bills itself as the future Bitcoin super-power. Market Backdrop Bitcoin is trading above $114,000 after peaking at $123,000 last week, up more than 100 percent year-on-year. The float is already constrained: roughly 92 percent of all coins are mined, and large swaths sit in dormant or long-term-holder wallets. Should the Treasury accelerate SBR purchases—as Mallers predicts—the incremental buy-side pressure could tighten supply further. From Mallers’ vantage point, the political embarrassment he describes is ultimately price-positive: “If the US wants to plant its flag as the crypto capital, it has no choice but to accumulate. That’s the bullish takeaway. We’re talking about a buyer with the deepest pockets on Earth.” Whether Congress will backstop those purchases is another matter. Senator Cynthia Lummis has re-introduced a bill directing the Treasury to acquire up to one million BTC over five years, but appropriations committees have yet to schedule hearings. At press time, BTC traded at $114,572.

After the bearish price action that began over the last weekend, Bitcoin has left some unfilled gaps open that could point to where the price is headed next. With two Fair Value Gaps (FVGs) yet to be filled, according to crypto analyst TehThomas, investors should expect a wave of uncertain movement in either direction. This is because Bitcoin needs to clear multiple liquidity levels before it is finally in a position to make a clean breakout. The Two FVGs Holding The Bitcoin Price Down In the analysis, Thomas explains that Bitcoin has created fair value gaps both above and below the current support level. The first of these lies above $117,000 and is expected to be the first to be filled. This position holds a lot of liquidity, and it is likely that this upper imbalance will be targeted first. Such a move would trigger stop losses and trap late longs who are tricked into buying the breakout. However, this Bitcoin breakout is not expected to last for long since only one FVG will have been filled at this level. The next FVG is way below the recent lows recorded at the start of August, sitting just above $111,000. The crypto analyst expects that a retracement from the breakout will push it back down to this level. This decline is, in itself, bullish as it will fill the imbalance at a point where there is a lot of demand. Just like the sweep upward above $117,000, the retracement to $111,000 is expected to clear internal liquidity. This will provide a clean slate from the compressing structure that the Bitcoin price has been trading within and could be the start of the next major move upward. What’s Next After Internal Liquidity Is Cleared? Once this move is in motion, the analyst points to the descending trendline as the next important formation on the Bitcoin price chart. For the price to continue upward, Thomas explains that Bitcoin would have to react from the upper imbalance of the trendline before falling back lower. This is the level that would determine confirmation for the next move. With internal liquidity also completely cleared at the end of the trend, Bitcoin is expected to have a “clean position to rally.” Targets would be the liquidity build-up at the previous wicks and area of rejection, which pushes all the way up toward $120,000. “This would complete the full cycle of imbalance fill, liquidity grab, and directional expansion,” Thomas said. However, he also added that “Price is unlikely to sustain a move higher until both zones have been addressed.”

Solana started a fresh increase from the $162 zone. SOL price is now consolidating gains and might aim for more gains above the $172 zone. SOL price started a fresh upward move above the $165 and $166 levels against the US Dollar. The price is now trading above $165 and the 100-hourly simple moving average. There is a contracting triangle forming with resistance at $168 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $172 resistance zone. Solana Price Eyes Upside Break Solana price started a decent increase after it found support near the $162 zone, like Bitcoin and Ethereum. SOL climbed above the $165 level to enter a short-term positive zone. The price even smashed the $1682 resistance. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $172 swing high to the $162 low. However, the bears are active near the $170 zone. The 76.4% Fib retracement level of the downward move from the $172 swing high to the $162 low is acting as a resistance. There is also a contracting triangle forming with resistance at $168 on the hourly chart of the SOL/USD pair. Solana is now trading above $165 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $170 level. The next major resistance is near the $172 level. The main resistance could be $175. A successful close above the $175 resistance zone could set the pace for another steady increase. The next key resistance is $182. Any more gains might send the price toward the $192 level. Are Downsides Limited In SOL? If SOL fails to rise above the $170 resistance, it could start another decline. Initial support on the downside is near the $164 zone. The first major support is near the $162 level. A break below the $162 level might send the price toward the $152 support zone. If there is a close below the $150 support, the price could decline toward the $145 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 above the 50 level. Major Support Levels – $164 and $162. Major Resistance Levels – $170 and $172.

XRP price is struggling to continue higher above the $3.020 zone. The price is consolidating and might decline below the $2.920 support. XRP price is correcting gains from the $3.10 zone. The price is now trading near $2.980 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $3.020 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $2.880 zone. XRP Price Faces Resistance XRP price failed to continue higher above the $3.10 resistance zone, like Bitcoin and Ethereum. The price formed a short-term top and started a fresh decline below the $3.020 level. The price dipped below the $3.00 level. There was a move below $2.950 and the price tested the 50% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high. However, the bulls were active near the $2.920 zone. The price is now trading near $2.980 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.00 level. There is also a bearish trend line forming with resistance at $3.020 on the hourly chart of the XRP/USD pair. The first major resistance is near the $3.10 level. A clear move above the $3.10 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.180 resistance or even $3.20 in the near term. The next major hurdle for the bulls might be near the $3.250 zone. Another Decline? If XRP fails to clear the $3.020 resistance zone, it could start another decline. Initial support on the downside is near the $2.920 level. The next major support is near the $2.880 level or the 61.8% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high. If there is a downside break and a close below the $2.880 level, the price might continue to decline toward the $2.810 support. The next major support sits near the $2.750 zone where the bulls might take a stand. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.920 and $2.880. Major Resistance Levels – $3.020 and $3.10.

Japan’s largest bank, SBI, has unveiled plans to launch the country’s first exchange-traded fund (ETF) that will be linked to both Bitcoin (BTC) and XRP. SBI Unveils Japan’s First Bitcoin And XRP ETF According to circulating reports, this investment vehicle aims to trade on the Tokyo Stock Exchange (TSE), offering institutional investors a regulated avenue to gain exposure to two of the market’s largest cryptocurrencies. In addition, the country’s financial giant has introduced a second product, the Digital Gold Crypto ETF, which will allocate 51% to gold and 49% to cryptocurrencies. This structure is reportedly designed to mitigate investment risks through diversification, catering to a growing interest in combining traditional assets with digital currencies. This announcement arrives at a pivotal moment as Japan’s Financial Services Agency (FSA) is contemplating regulatory changes that could simplify the approval and tax processes for cryptocurrency-related financial products. Such developments may further enhance the attractiveness of these offerings to investors looking for regulated investment opportunities in the crypto space. Meanwhile, across the waters in China, the focus is shifting towards the introduction of the country’s first stablecoin. Hong Kong Emerges As Crypto Testing Ground Reports from the Financial Times indicate that Hong Kong has emerged as a testing ground for cryptocurrency initiatives, particularly in light of the stringent bans imposed on the mainland. Recently, Hong Kong passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has adopted a cautious approach, announcing that only a limited number of licenses will be granted starting next year. Chinese policymakers are increasingly recognizing the significance of stablecoins, particularly in the context of dollar-backed tokens that dominate the global economy. In a speech made in June, Pan Gongsheng, the governor of China’s central bank, noted that stablecoins have “fundamentally reshaped the traditional payment landscape.” This acknowledgment reflects a growing interest in stablecoins from Chinese state-owned enterprises, especially for payment and settlement solutions. Several state-owned companies operating in Hong Kong are reportedly preparing to apply for stablecoin licenses, although only one of China’s four major state-owned banks is anticipated to receive a license from the HKMA in this initial phase. Notably, the HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a potential move that could greatly facilitate cross-border payments—an increasingly vital area for China as it seeks to enhance its financial influence globally. When writing, Bitcoin trades at $115,245, recording a 1% recovery in the 24-hour time frame. When compared to its recently achieved all-time high (ATH) of $123,000, the cryptocurrency has retraced over 6%. Featured image from DALL-E, chart from TradingView.com

Ethereum price found support near the $3,540 zone and recovered. ETH is rising and might soon aim for a move above the $3,740 zone. Ethereum started a fresh increase above the $3,540 and $3,580 levels. The price is trading above $3,620 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $3,625 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,540 zone in the near term. Ethereum Price Aims Higher Ethereum price started a fresh increase from the $3,540 support zone, beating Bitcoin. ETH price was able to recover above the $3,550 and $3,580 resistance levels. The bulls even pushed the price above the $3,700 resistance zone. However, the bears remained active near the $3,750 zone. A high was formed at $3,733 and the price corrected some gains. There was a move below the $3,620 level. The price tested the 50% Fib retracement level of the upward move from the $3,350 swing low to the $3,733 high. ETH is again rising above $3,600. There was a break above a bearish trend line with resistance at $3,625 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $3,700 level. The next key resistance is near the $3,720 level. The first major resistance is near the $3,750 level. A clear move above the $3,750 resistance might send the price toward the $3,820 resistance. An upside break above the $3,820 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,120 in the near term. Are Dips Supported In ETH? If Ethereum fails to clear the $3,720 resistance, it could start a fresh decline. Initial support on the downside is near the $3,620 level. The first major support sits near the $3,580 zone. A clear move below the $3,580 support might push the price toward the $3,540 support. Any more losses might send the price toward the $3,440 support level in the near term. The next key support sits at $3,350. 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 – $3,540 Major Resistance Level – $3,750

After recovering from its local lows, Cardano (ADA) is retesting a key area that could send the price to the next crucial resistance. Some analysts suggest that the cryptocurrency is preparing for a massive rally. Cardano Retests Key Resistance Following last week’s drop to the $0.70 support, Cardano is attempting to break out of a crucial resistance level to continue its rally. The cryptocurrency has surged 8.8% from Friday’s low, retesting the $0.74-$0.76 area throughout this week. Notably, ADA has been hovering between the $0.65-$0.85 price range since the Q2 market recovery, briefly losing this area during the June pullback. However, the July market pump sent the altcoin to a four-month high of $0.93, sparking bullish sentiment among investors. Since then, Cardano has been in a downtrend, attempting to break out of the descending resistance for the past two weeks. Market watcher Sebastian noted that the cryptocurrency has repeatedly retested the $0.76 zone over the past few days, suggesting that “the more it tests it, the higher the likelihood to break it.” According to the analyst, ADA must reclaim the 50-day Moving Average (MA), which has served as a strong resistance and support level and coincides with the descending resistance breakout area. Following today’s performance, the altcoin has reclaimed the 50 MA indicator and eyes a retest of the $0.76 resistance. A breakout from this level would set the stage for a retest of the next crucial area between $0.79 and $0.80. “Getting back above $0.80 would confirm the trend reversal,” Sebastian affirmed. Meanwhile, a rejection from this area could propel Cardano to retest the recent lows and risk losing its local range again. ADA Breakout Eyes 85%-120% Rally Man of Bitcoin noted ADA’s recent performance, asserting that it is “now potentially working on a small 1-2 setup.” Based on this, he suggested that “as long as the price remains above the last swing low at $0.685, wave-5 of iii should follow next.” Meanwhile, analyst Ali Martinez highlighted that the cryptocurrency has been trading within a descending channel since its December 2024 high of $1.32. According to the chart, ADA retested the channel’s upper boundary for the first time in months during the July breakout but was ultimately rejected. Reclaiming the $0.76 could propel the altcoin to the channel’s resistance, and “a breakout above $0.84 could set Cardano on a path toward $1.30.” Additionally, Martinez asserted that “ADA is showing the same price structure as the last cycle, only this time, it’s unfolding more gradually. And it feels like we’re right at the beginning of an explosive move.” Similarly, Crypto Bullet stated that Cardano has been following a pattern over this cycle. Per the chart, the cryptocurrency has been trading down for months before breaking out and reaching new local highs. Last month, the cryptocurrency broke out of its eight-month downtrend, targeting a rally toward the $1.60 area. Now, ADA is retesting the descending resistance line, which could set up the stage for the 120% jump if the breakout is confirmed. As of this writing, Cardano is trading at $0.74, a 3% increase in the daily timeframe.

As part of an initiative to internationalize the renminbi (Chinese Yuan) and enhance its competitiveness against the US dollar, China is poised to launch its first stablecoin. Meanwhile, the US is making significant progress toward its mission of becoming the crypto capital of the world. Despite this ambitious plan, concerns about potential capital flight are reportedly hindering the rapid advancement of stablecoin technology within the country. China Explores Stablecoin Initiatives According to a report from the Financial Times, Hong Kong has emerged as a testing ground for cryptocurrency, particularly given the strict bans on the mainland. Recently, the territory passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has taken a cautious stance, indicating that only a limited number of licenses will be issued starting next year. Policymakers in China have increasingly turned their attention to stablecoins, recognizing the growing dominance of dollar-backed tokens in the global economy. The central bank governor, Pan Gongsheng, noted in a June speech that stablecoins have “fundamentally reshaped the traditional payment landscape.” However, the Chinese government faces a delicate balancing act; while it seeks to enhance the global standing of the renminbi, it must also maintain stringent controls over its financial system. Recent discussions among financial regulators have centered on the implementation of stablecoin projects, emphasizing that any such initiative must align with China’s unique national conditions. Yet, experts have cautioned that the risks associated with capital outflows could pose significant challenges. Interest Grows In Hong Kong Rebecca Liao, CEO of Saga, a company focused on blockchain infrastructure, articulated the complexities of adopting stablecoin technology, highlighting that it cannot be completely controlled by central authorities. This concern has contributed to Hong Kong’s slower progress in developing a thriving stablecoin market, especially when compared to the rapid growth observed in the United States. The HKMA has voiced apprehensions about the potential use of stablecoins in money laundering, emphasizing the need for stability and control in its new regulatory framework. As such, initial stablecoin programs in Hong Kong are expected to focus on business-to-business applications, limiting their broader adoption. The report emphasizes that interest in stablecoins is also growing among Chinese state-owned enterprises, particularly in the context of payment and settlement solutions. Multiple state-owned companies with operations in Hong Kong are reportedly looking to apply for stablecoin licenses, although only one of China’s four major state-owned banks is expected to receive a license from the HKMA in this initial phase. The HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a move that could further facilitate cross-border payments—an area of increasing importance for China. Featured image from DALL-E, chart from TradingView.com

Bitcoin price is attempting to recover above the $114,200 zone. BTC is now consolidating and might attempt to clear the $115,500 resistance zone. Bitcoin started a recovery wave above the $113,500 zone. The price is trading above $114,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with resistance at $114,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $115,500 resistance zone. Bitcoin Price Attempts Recovery Bitcoin price found support near the $112,000 zone and started a recovery wave. BTC was able to climb above the $113,500 and $114,200 resistance levels. Besides, there was a break above a bearish trend line with resistance at $114,300 on the hourly chart of the BTC/USD pair. The price climbed toward the 50% Fib retracement level of the move from the $118,918 swing high to the $112,000 low. However, the bears were active near the $115,500 resistance and the price struggled to continue higher. Bitcoin is now trading above $114,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $115,000 level. The first key resistance is near the $115,500 level. The next resistance could be $116,250 or the 61.8% Fib retracement level of the move from the $118,918 swing high to the $112,000 low. A close above the $116,250 resistance might send the price further higher. In the stated case, the price could rise and test the $117,500 resistance level. Any more gains might send the price toward the $118,000 level. The main target could be $120,000. Another Drop In BTC? If Bitcoin fails to rise above the $115,500 resistance zone, it could start another decline. Immediate support is near the $114,200 level. The first major support is near the $113,500 level. The next support is now near the $112,000 zone. Any more losses might send the price toward the $110,500 support in the near term. The main support sits at $108,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $113,500, followed by $112,000. Major Resistance Levels – $115,500 and $117,500.

Ethereum (ETH) has mirrored the broader cryptocurrency market’s recent downturn, with its price declining by 4% over the past week. As of today, ETH trades at approximately $3,598, reflecting a 1% decrease in the past 24 hours. This pullback follows months of mixed price action across the market, as traders balance optimism over long-term fundamentals with short-term risk management. New insights from on-chain data suggest heightened market activity surrounding Ethereum despite its failure to reclaim the $4,000 mark. Analysts point to unprecedented levels of Open Interest (OI) in Ethereum futures contracts, combined with record daily transactions on its network. While this signals growing participation and network adoption, it also raises concerns about potential volatility if market sentiment shifts abruptly. Ethereum Open Interest Hits All-Time High CryptoQuant analyst CryptoOnchain reported that Ethereum’s OI on Binance has recently reached a record-breaking $77 billion. Open Interest measures the total number of outstanding derivative contracts, providing insight into market activity and trader participation. The surge suggests that more capital is entering ETH futures markets, potentially setting the stage for significant price movements. This rise in OI coincides with Ethereum reaching its highest daily transaction count ever recorded. Analysts link this spike in activity to increased engagement in decentralized finance (DeFi), growth in layer-2 scaling solutions, and broader adoption of Ethereum-based applications. CryptoOnchain noted that such developments “highlight growing participation and user engagement,” adding that this type of market buildup often precedes sharp price trends, either upward or downward. However, this accumulation of leveraged positions carries risk. If price movements turn unfavorable for the majority of open contracts, a wave of liquidations could occur, amplifying volatility. This has been a recurring theme in the cryptocurrency market, where leveraged positions can trigger cascading sell-offs during sudden price corrections. Bearish Signals Emerge from Market Order Activity Another CryptoQuant analyst, Maartunn, highlighted a different indicator that reflects short-term market pressure on Ethereum. According to his data, Net Taker Volume for ETH stood at -$418.8 million daily. This figure represents roughly 115,400 more ETH sold via market orders than bought, indicating a clear imbalance in favor of sellers. Market orders, unlike limit orders, execute trades immediately at the best available price. A sustained negative Net Taker Volume often signals urgency among sellers, potentially foreshadowing further downside if buy-side demand fails to absorb the selling pressure. Maartunn explained that “such behavior indicates participants were willing to prioritize execution speed over price,” typically a bearish market sign. Ethereum’s price action remains constrained below its psychological $4,000 resistance level. Despite strong on-chain activity, the divergence between network fundamentals and price performance shows a period of indecision for ETH. Featured image created with DALL-E, Chart from TradingView

The global cryptocurrency market has experienced a slight downturn over the past week, with Bitcoin (BTC) struggling to regain its recent highs. Market data from CoinGecko shows the total crypto market capitalization currently stands at approximately $3.79 trillion, representing a 0.4% decline in the last 24 hours. This pullback follows a period of uncertainty across major digital assets, with both Bitcoin and altcoins facing limited buying momentum despite periods of volatility. Analysts suggest that reduced market activity and fluctuations in leveraged trading positions are playing a significant role in current market behavior. Insights from Binance, one of the largest cryptocurrency exchanges globally, highlight shifting trader sentiment as leverage levels decline while overall price movement remains subdued. These changes raise questions about whether the market is entering a phase of consolidation or setting up for more volatility ahead. Leverage Trends on Binance Point to Market Reset According to a recent analysis from CryptoQuant contributor Arab Chain, leverage usage on Binance has decreased notably in recent days. The analyst explains that falling leverage is typically a short-term positive indicator as it suggests the exit of overleveraged traders and a reduction in forced liquidations. This can help stabilize price fluctuations and reduce abrupt sell-offs that often trigger sharp market corrections. However, Arab Chain points out that the current scenario differs slightly. Both price levels and leverage ratios have declined simultaneously, indicating that spot market buying has not picked up to offset selling activity. “The lack of strong demand in the spot market weakens the probability of a rapid recovery,” the analyst wrote. This trend highlights a more cautious approach from traders, potentially reflecting macroeconomic uncertainties or a wait-and-see attitude ahead of key market developments. The estimated leverage ratio on Binance is considered a critical indicator for short-term sentiment. A high leverage ratio suggests speculative positions are dominating the market, making it more vulnerable to sudden price swings. Conversely, a falling ratio can indicate risk management among traders or widespread liquidations, both of which can temporarily ease volatility. Arab Chain emphasizes that this metric acts as an “early radar” for potential shifts in market momentum. Altcoin Deposits Signal Increased Trading Activity In a separate analysis, CryptoQuant’s Maartunn observed a significant increase in altcoin deposits to Binance, with a seven-day transaction count exceeding 45,000, the highest level since late 2024. This surge in activity coincided with Bitcoin’s recent push above $112,000, suggesting traders are preparing to adjust their positions across a wider range of digital assets. Deposits to exchanges are often interpreted as a signal of upcoming trading activity, as funds are moved from wallets to platforms where they can be quickly exchanged. Whether this results in increased buying or selling depends on how the broader market evolves in the coming days. The uptick in deposits could indicate growing interest in altcoins as traders look for opportunities beyond Bitcoin amid its recent stagnation. Featured image created with DALL-E, Chart from TradingView

The Ethereum (ETH) blockchain is experiencing a renewed surge in network activity, recently reaching a fresh all-time high (ATH) in daily transactions. However, despite this increase in on-chain fundamentals, ETH’s price continues to trade below major resistance levels, raising concerns that bullish momentum may be fading. Ethereum Network Activity Picks Momentum According to a CryptoQuant Quicktake post by contributor CryptoOnChain, Ethereum’s daily transaction count – highlighted in pink in the below chart – has surged to a new ATH of approximately 1,550,000 transactions per day. This sharp increase in daily transactions, particularly noticeable over the past few months, points to intensified on-chain usage and overall network engagement. In addition to transaction count, other metrics also reflect a spike in activity – most notably, the number of unique Ethereum addresses. As of August 5, the total number of unique Ethereum addresses stood at 332,122,674, marking an increase of 207,454 new wallets compared to the previous day. While some of these may belong to existing users creating new addresses, the majority likely represent new participants entering the Ethereum ecosystem. CryptoOnChain emphasized that despite these bullish on-chain signals, Ethereum’s price has not followed suit. As shown in the above chart, ETH’s price – highlighted in orange – remains subdued, failing to break above prior highs or key resistance zones. This disconnect between rising network fundamentals and lagging price action may indicate that the market is in an accumulation phase, the analyst said. CryptoOnChain further suggested that Ethereum could be setting the stage for a significant bullish breakout, with potential upside targets reaching as high as $5,000. Is ETH Price Headed For A New ATH? In a separate analysis posted on X, crypto analyst Titan of Crypto shared the following ETH monthly chart, noting that the asset is “compressing within a massive monthly triangle.” According to the analyst, a successful breakout from this pattern could potentially drive ETH toward $8,000. For the uninitiated, the triangle pattern is a chart formation that occurs when price action consolidates between converging trendlines, forming a shape that resembles a triangle. It typically indicates a period of indecision that often resolves with a breakout in the direction of the prior trend, signaling continuation or reversal depending on the context. Another well-known analyst, Gert van Lagen, echoed a similar outlook. He noted that ETH may be positioning for a powerful breakout, with a projected price target of up to $9,000, citing growing technical and fundamental support. Meanwhile, on-chain exchange data also supports a bullish narrative. Over the past two weeks, more than 1 million ETH has been withdrawn from centralized exchanges – fuelling speculations about a potential supply crunch. At press time, ETH trades at $3,590, down 1.1% in the past 24 hours.