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Tag: crypto

  • Altcoins Feel The Pinch As Crypto Market Sentiment Sours

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    The crypto market slipped into a risk-off mood over the weekend as the Crypto Fear & Greed Index fell to 44, moving from Neutral into Fear.

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    Traders Shift Toward Large Caps

    Santiment said a heavy focus on large-caps can signal more cautious behavior among traders. Based on reports, that pattern was visible on Saturday when market activity narrowed and attention tightened around the biggest tokens.

    According to data firm Santiment, traders are pulling money out of obscure altcoins and putting it back into major names like Bitcoin, Ether, and XRP.

    Bitfinex analysts added that a broader return of momentum to smaller coins may wait until more spot crypto ETFs launch later this year.

    Total crypto market cap currently at $3.82 trillion. Chart: TradingView

    Price Moves Are Mixed

    According to Coingecko, Bitcoin is down 5% over the past month while Ether has risen 9% over the same period. The wider altcoin group is under pressure, even as a few tokens show isolated strength.

    CoinMarketCap’s Altcoin Season Index stood at 56 on Sunday, a level that technically meets the threshold for Altcoin Season when comparing the top 100 altcoins versus Bitcoin over a 90-day window.

    Altcoin Season And The Shakeout

    Some traders see the current pullback as a cleansing move. Trader Rekt Fencer said, “This is the final shakeout for altcoins,” pointing to falling volumes and nervous sentiment.

    That view is echoed by other market watchers who note that lower volumes can exaggerate price swings and make smaller tokens more volatile.

    Meanwhile, traders waiting for new inflows say they are watching ETF rollouts as a potential trigger for renewed interest in lower-cap assets.

    Short-Term Risk Views And Cycle Warnings

    Market technician Daan Crypto Trades described Bitcoin’s price action as “undecisive” and warned it could sweep monthly lows to flush out late long positions.

    The analyst added that such a move should then cause some fear of it losing $100,000. Other analysts urge caution about drawing firm patterns from past cycles.

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    PlanC warned that relying on just three previous halving cycles is misleading, writing that anyone who expects Bitcoin to have to peak in Q4 this year “does not understand statistics or probability.”

    Michael van de Poppe offered a counterpoint, arguing that altcoins are “extremely undervalued” versus past cycles and that 2025 may play out very differently.

    Featured image from Meta, chart from TradingView

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    Christian Encila

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  • Santiment Highlights Top Tokens: Bitcoin, Ethereum, And Dogecoin Dominate Social Buzz

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    Conversations across the crypto space are circling back to blue-chip tokens, with Bitcoin, Ethereum, and Dogecoin taking the spotlight. Data from on-chain analytics platform Santiment shows that top market cap cryptocurrencies are dominating the surge in social chatter, with discussions ranging from institutional adoption and ETF speculation to technical barriers and ecosystem growth. Alongside them, Strategy, Tether, and MultiversX are also attracting strong attention.

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    Bitcoin And Ethereum Dominating Attention

    Despite price resistance at $112,000 throughout last week, Bitcoin is still the most closely watched cryptocurrency by analysts and investors. According to on-chain analytics platform Santiment, Bitcoin is currently dominating among crypto investors thanks to extensive discussions about its long-term role as digital gold, a monetary network, and a hedge against inflation. Conversations focus heavily on its scarcity, institutional demand, and the importance of self-custody. Traders are also discussing Bitcoin’s liquidity in flash crypto offers that allow instant trading and spending across multiple platforms. 

    Ethereum is trending, with mentions also tied to its role in flash tokens and its utility across wallets and decentralized platforms. ETH discussions are based on its transferability and use in trading, staking, and gaming, while institutions continue to accumulate large volumes. However, the Ethereum price is also facing technical struggles in breaking above $4,500, having been rejected at $4,480 multiple times in the past seven days.

    BTCUSD currently trading at $111,170. Chart: TradingView

    Strategy And Dogecoin Also Generate Social Buzz

    Strategy’s and its MicroStrategy ($MSTR) stock are also hot topics due to the company’s massive Bitcoin reserves and its reputation as a leveraged proxy for BTC exposure. Particularly, market chatter has picked up around its potential inclusion in the S&P 500, which could cause institutional buying and fund inflows. At the same time, discussions show that investors are debating whether MSTR shares or Bitcoin ETFs provide better exposure.

    Unsurprisingly, the word “Dogecoin” is in the limelight due to multiple developments last week. Most of Dogecoin’s mentions are based on the upcoming Rex-Osprey Dogecoin ETF, which could become a historic first for Dogecoin ETFs in the US financial market. Furthermore, Trump-backed company Thumzup is expanding Dogecoin mining operations by adding 3,500 rigs. Despite choppy price action last week, Dogecoin managed to close above $0.21.

    Tether ($USDT) also saw huge mentions last week after the company announced deeper investments into gold, with its reserves now exceeding $8.7 billion. The company aims to expand into mining, refining, and trading, with its CEO calling gold a natural bitcoin. Additionally, new token listings related to Tether are appearing on platforms like BitMart.

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    MultiversX ($EGLD), meanwhile, is facing a different kind of attention. Social discussions highlight concerns about dilution of its supply and the migration of projects to other chains like SUI, raising doubts about long-term use cases. However, there’s optimism on projects such as xPortal and xMoney, with hopes that buyback mechanisms and upcoming launches could bolster value. 

    Featured image from Unsplash, chart from TradingView

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    Scott Matherson

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  • Why $50 XRP By December 2025 Isn’t ‘Hopium’ If ETFs Get Greenlight: Analyst

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    XRP’s price outlook is in focus as the US Securities and Exchange Commission lines up decisions on multiple spot ETF applications in late October 2025. Analysts say the outcome of that cluster could decide whether billions of dollars in institutional funds flow into the token before year-end.

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    Filings Point To October Decision

    Reports show that six issuers have active S-1 filings or amendments waiting for review. The list includes Bitwise, WisdomTree, 21Shares, Canary Capital, CoinShares, and Franklin Templeton.

    The timing of these filings, following the SEC’s dismissal of its case against Ripple, has raised expectations that issuers are preparing for a launch window tied to October’s calendar.

    Demand Shock Could Stress Supply

    Industry insiders project that more than $5 billion could enter through spot ETFs in the first month alone. Estimates run as high as $10–18 billion by the end of 2025 if approvals are granted and appetite is strong.

    XRP market cap currently at $169 billion. Chart: TradingView

    XRP’s effective supply is limited, with about 35 billion tokens still locked in escrow and much of the circulating amount held by exchanges and large investors. This thin float means a sudden demand wave could trigger sharp price swings.

    Analyst Upbeat About A $50 Target

    Veteran Bitcoin investor Pumpius has tied these supply and demand pressures to a bold forecast. He believes that if ETFs launch in the fourth quarter and inflows reach $10–18 billion, XRP could climb to $50 by December 2025 — and it is not “hopium“.

    From today’s price of $2.80, that would be a 1,680% rise, lifting market capitalization from $168 billion to about $3 trillion.

    Pumpius says the setup mirrors Bitcoin and Ethereum before their ETF approvals, pointing to the recent launch of XRP futures on CME and Coinbase Derivatives as proof that institutional infrastructure is already in place.

    Skepticism Over The Timeline

    Many market participants have pushed back against the forecast, arguing that the timeline is too short for XRP to grow that much.

    Critics on social platforms point out the difficulty of scaling from a $168 billion market to $3 trillion in just over a year. Some also question whether early ETF inflows will meet the higher-end projections cited by Pumpius.

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    What Approval Would Mean

    Should the SEC approve the filings in October, ETFs could channel regulated exposure for pensions, wealth managers, RIAs, and corporate treasuries.

    That would test XRP’s liquidity, potentially forcing larger holders to adjust positions as new demand arrives. If the applications are denied, expectations for a breakout rally would likely be pushed further out.

    For now, XRP continues to trade at $2.84. With the SEC’s October cluster approaching, traders are weighing whether the path to $50 is a realistic outcome or just a bold scenario tied to one investor’s high-stakes call.

    Featured image from Meta, chart from TradingView

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    Christian Encila

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  • Analyst Forecasts XRP To Stage Amazon-Like Rally To $200

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    XRP has drawn plenty of comparisons over the past few months, but one analyst believes the best way to understand its future is to look at Amazon’s past. Nick Anderson, better known as BULLRUNNERS on the social media platform X, says XRP is going through the same kind of consolidation Amazon faced in 2010, and it still has the potential to rally to $200. The key difference, however, is the patience investors will need before this rally can happen.

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    Amazon’s Breakout Holds The Clues For XRP

    XRP’s price action in the past seven days has been highlighted by a trading range between $2.8 and $2.9. The cryptocurrency now seems stuck within this range, but it has managed to hold above $2.8 for the meantime. Interestingly, Anderson likened this consolidation move to a similar retest of a previous high by the Amazon stock (AMZN) back in 2010. 

    In his post, Anderson highlighted how Amazon stock spent roughly 3,800 days consolidating after the dot-com crash before finally breaking past its previous high and entering a meteoric run. However, before entering into this meteoric run, it consolidated for a few months in 2010 just after breaking above its previous high during the dot-com bubble. 

    According to Anderson, XRP’s current structure is tracing out a massive cup and handle that mirrors this exact Amazon stock setup, with the cryptocurrency now using past highs as support in the same way Amazon did. Just as Amazon transformed once it cleared resistance, Anderson believes XRP could follow a similar breakout trajectory that could eventually push its price above $100, and possibly as high as $200.

    XRPUSD currently trading at $2.8. Chart: TradingView

    Short-Term Expectations Between $5 And $30

    In his assessment, Anderson noted that this predicted rally to $200 might take many years to come to fruition. Comparing today’s price of around $2.80 to Amazon’s $5 launch point before its monumental rally, this would probably be the best time for XRP investors to accumulate for the long term. For younger investors, holding XRP for the next 10 to 15 years could prove transformative, with as little as 10,000 XRP amounting to $1 million in value if the cryptocurrency eventually climbs to $100.

    Despite his long-term forecast, Anderson is more cautious about what XRP might achieve this cycle. He stated that while a push to $100 in the near term would be “absolutely insane”, a more realistic target for this bull run could lie between $5 and $30. After that, he expects another correction to set in before the rally resumes sometime around the end of the decade. 

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    Anderson also left room for a more explosive scenario, noting that XRP could deliver what he called a “giga rally” if liquidity rushes into the market faster than expected. This is based on the growing anticipation around the adoption of ISO 20022 by the US Federal Reserve.

    At the time of writing, XRP is trading at $2.81.

    Featured image from Unsplash, chart from TradingView

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    Scott Matherson

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  • Trump-Tied Thumzup Raises $50M, Merges Dogecoin Mining With XRP Plans

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    According to a shareholder letter, Thumzup Media completed a $50 million common stock offering at $10 per share and laid out a two-part plan: expand into Dogecoin mining and put selected cryptocurrencies into a corporate treasury.

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    Thumzup Raises $50 Million

    The new cash will help fund a pending acquisition of Dogehash Technologies, a deal that calls for Thumzup to issue 30.7 million shares to Dogehash shareholders.

    Once the transaction closes, the mining firm is set to be renamed Dogehash Technologies Holdings and is expected to trade on Nasdaq under the XDOG ticker. Part of the raised money will buy 1,000 mining machines, company officials said.

    Dogecoin Mining Push

    Reports have disclosed that Thumzup described the mining effort as aggressive. The move ties mining assets and capital markets together in one package. Some details remain unclear.

    For example, the timetable for renaming and listing, and the exact delivery schedule for the 1,000 rigs, were not spelled out in the letter. Still, the plan is in motion and will be watched closely by investors.

    XRP Included In Corporate Treasury

    Beyond rigs and a Nasdaq plan, Thumzup said its board has approved building a diversified crypto treasury that will include XRP. Other assets named were Dogecoin, Solana, Ethereum, Litecoin and stablecoin USDC.

    No firm numbers were given on how much of any token will be held. What was revealed is that this treasury plan follows earlier cryptocurrency buys: Thumzup invested $1 million in Bitcoin in January and then made an additional $1 million purchase later that month.

    Total crypto market cap currently at $3.75 trillion. Chart: TradingView

    Companies Adding XRP To Reserves

    Based on reports from other firms, Thumzup is not alone. Webus International announced a $300 million XRP treasury plan in June. VivoPower, which raised $121 million from investors that include Saudi backers, has also discussed using part of that funding to hold XRP.

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    Trident Digital has said it intends to build a $500 million XRP reserve. Those moves are being watched by market participants because they change how some firms think about holding crypto on their balance sheets.

    Investors will look for three items. First, whether the Dogehash deal closes and the 30.7 million-share exchange is completed. Second, the actual delivery and deployment of the 1,000 mining units. Third, any filings or announcements that show how much crypto Thumzup will place into its treasury and when those purchases occur.

    The company framed its strategy as consistent with US President Donald Trump’s stated support for boosting American crypto activity, a political point that the firm used in the shareholder letter.

    Featured image from Unsplash, chart from TradingView

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    Christian Encila

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  • Crypto To Overtake The Dollar? Ray Dalio Flags End Of Debt Cycle

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    Crypto sits at the heart of Ray Dalio’s new message. On September 3, 2025, the Bridgewater Associates founder published a point-by-point rebuttal to what he called the Financial Times’ “mischaracterizations,” releasing the full written Q&A he says he provided to the paper. The exchange restates his “Big Debt Cycle” framework and argues that rising US debt burdens, risks to Federal Reserve independence, and mounting geopolitical fractures are eroding the dollar’s role as a store of wealth—conditions that he says are boosting gold and crypto.

    Why Crypto Is An “An Attractive Alternative”

    Dalio frames the US fiscal position as late-cycle and dangerously self-reinforcing. “The great excesses that are now projected as a result of the new budget will likely cause a debt-induced heart-attack in the relatively near future—I’d say three years, give or take a year or two,” he wrote. He quantified the near-term squeeze in stark terms, citing “about $1 trillion a year in interest” and “about $9 trillion needed to roll over the debt,” alongside roughly “$7 trillion” in spending versus “$5 trillion” in revenues, requiring “an additional roughly $2 trillion in debt.” That expanding supply, he argued, collides with weakening demand when investors question whether bonds “are good storeholds of wealth.”

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    The fulcrum, in Dalio’s telling, is now the Federal Reserve. If political pressure undermines the central bank’s independence, he warned, “we will see an unhealthy decline in the value of money.” Should a “politically weakened Fed” allow inflation to “run hot,” the consequence would be that “bonds and the dollar [go] down in value” and, if not remedied, becoming “an ineffective storehold of wealth and the breaking down of the monetary order as we know it.” He linked this to a broader late-cycle pattern: foreign holders “reducing their holdings of US bonds and increasing their holdings of gold due to geopolitical worries,” which he called “classically symptomatic” of the endgame.

    Dalio connected the macro and political strands to a more interventionist policy backdrop, referencing actions “to take control of what businesses do” and likening the current phase to the 1928–1938 period. He did not pin the dynamic on a single administration—“this situation has been going on for a long time under presidents from both parties”—but said post-2008 and especially post-2020 policies accelerated it. “The interaction of these five forces will lead to huge and unimaginable changes over the next 5 years,” he added, listing debt, domestic politics, geopolitics, acts of nature, and technology (with AI most important) as the drivers.

    Within that late-cycle schema, Dalio placed crypto squarely in the “hard currency” bucket. “Crypto is now an alternative currency that has its supply limited,” he wrote. “If the supply of dollar money rises and/or the demand for it falls, that would likely make crypto an attractive alternative currency.” He tied the recent “rises in gold and cryptocurrency prices” to “reserve currency governments’ bad debt situations,” and reiterated his long-running focus on “storeholds of wealth.”

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    On whether crypto could “meaningfully replace the dollar,” he emphasized mechanics over labels, noting that “most fiat currencies, especially those with large debts, will have problems being effective storeholds of wealth and will go down in value relative to hard currencies,” a pattern he said echoed the 1930–1940 and 1970–1980 episodes.

    Dalio addressed crypto stablecoin risk in that context, separating asset price drawdowns from systemic fragility: “I don’t think so,” he said when asked if stablecoins’ Treasury exposure is a systemic risk, adding that “a fall in the real purchasing power of Treasuries” is the real hazard—mitigated “if they are well-regulated.” He also rejected the notion that deregulation alone threatens the dollar’s reserve status: “No,” he said, pointing again to debt dynamics as the primary vulnerability.

    Dalio’s latest remarks fit within a decade-long evolution of his public stance on Bitcoin and crypto rather than a whiplash reversal. Early on, he emphasized gold as the superior “storehold of wealth” and warned that if Bitcoin ever became too successful, governments might restrict it—tempering enthusiasm with regulatory risk.

    By 2020–2021 he began calling Bitcoin “one hell of an invention,” acknowledged owning a small amount, and increasingly framed it as a portfolio diversifier that rhymes with digital gold, while still stressing its volatility and policy sensitivities. With his latest remarks, Dalio puts the entire crypto market inside the monetary hierarchy he uses to analyze late-cycle dynamics.

    At press time, the total crypto market cap stood at $3.79 trillion.

    Total crypto market cap
    Crypto market cap, 1-week chart | Source: TOTAL on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • How Did Trump Just Make Billions of Dollars? All the President’s Recent Crypto Moves

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    Donald Trump and his family made approximately $5 billion on Monday when WLFI, the token associated with their crypto venture, World Liberty Financial, began trading on public markets. But World Liberty is far from the only crypto-based money-making business the president has going on right now. Indeed, it seems that on any given day, the leader of the free world—who once called Bitcoin a “scam” but is now “a big crypto fan” who wants to build a “strategic bitcoin reserve”*—is finding new opportunities to enrich himself through crypto dealings.

    Most recently, that’s involved:

    The WLFI launch

    The biggest new source of wealth for Trump and his relatives, WLFI started trading on Labor Day, and in the process, netted Trump and his children an estimated $5 billion on paper. (Trump’s three sons—Don Jr., Eric, and Barron Trump—are “cofounders” of World Liberty—while the president is listed on its website as “cofounder emeritus,” because maintaining the appearance of not using the presidency to get rich is important to the family.) According to a public financial disclosure report, Trump owned 15.75 billion WLFI tokens by the end of 2024, and while he and his cofounders cannot currently sell them, they are now one of the biggest assets in his portfolio, worth far more, per The New York Times, than his real estate holdings.

    Crypto.com partnership

    The Devin Nunes–led Trump Media & Technology Group— the parent company of Truth Social—said last week that it is starting a new company called Trump Media Group CRO Strategy, which will buy and hold CRO, a token developed by Crypto.com. The venture said it will raise approximately $6.4 billion in order to purchase the tokens, with $1 billion in tokens coming from Crypto.com and a $5 billion line of credit from an affiliate of New Jersey financial firm Yorkville Acquisition Corp. The move follows TMTG’s July acquisition of $2 billion in Bitcoin and Bitcoin-related securities. TMTG also recently filed paperwork with the SEC to launch a bunch of crypto exchange-traded funds.

    GENIUS Act

    In July, Trump signed into law the GENIUS Act, which makes it easier for banks and other financial entities to issue digital currencies known as stablecoins. During the signing at the White House, he told reporters: “I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world. And that’s what we’ve done under the Trump administration.” (Critics were less enthused about the new law, with Carla Sanchez-Adams, senior attorney at the National Consumer Law Center, saying it would  “benefit only crypto-billionaires and large corporate actors while exposing ordinary consumers to incredible risk with no protection.”)

    CLARITY Act

    Passed by the House in July, the Senate is reportedly expected to take up the crypto regulations bill later this month. If passed and signed by Trump, the law would give the Commodity Futures Trading Commission authority over “digital commodities.” Critics worry it will “lead to far weaker policing of what they consider to be a dangerous segment of the financial sector.” Which means a certain crypto president probably loves it.

    *Which at least one economist has said “makes no sense.”

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  • ETH And BTC ETFs Reverse Gains With $291M In Outflows Ahead Of New Week

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    US-based crypto ETFs have witnessed a change in dynamics in August, which has seen inflows tipping towards Ethereum ETFs. However, last week’s trend of strong inflows ended with substantial outflows on Friday, with Ethereum ETFs leading the retreat with $164.64 million and Bitcoin ETFs following with $126.64 million. This sudden reversal coincides with an interesting timing of stubborn inflation data that seems to have rattled institutional investors.

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    A Sudden Reversal At Week’s End

    According to data from Farside Investors, US-based Spot Ethereum ETFs ended the week with $164.64 million in outflows. The outflows came from Fidelity’s FETH with $51 million, Bitwise’s ETHW with $23.7 million, Grayscale’s ETHE with $28.6 million, and Grayscale’s ETH with $61.3 million. BlackRock, on the other hand, witnessed neither inflows nor outflows into its Spot ETH ETFs, alongside 21Shares, VanEck, Invesco, and Franklin Templeton Ethereum ETFs.

    Friday’s outflows were a jarring departure from the steady gain that had defined Ethereum’s Spot ETFs since August 21. Ethereum’s six-day inflow streak, which had added about $1.876 billion, was brought to an abrupt end with the outflows on Friday. As a result, total assets under management for Spot Ethereum ETFs dipped to $28.58 billion.

    Ethereum ETF Flow: Farside Investors

    Meanwhile, Spot Bitcoin ETFs also recorded their first daily decline since August 22 with $126.64 million in outflows on Friday. As a result, their total assets under management dropped to $139.95 billion.

    However, not every issuer felt the pressure with Bitcoin. Fidelity’s FBTC led the exodus with $66.2 million, followed by ARKB’s $72.07 million and GBTC’s $15.3 million in outflows. On the other hand, BlackRock’s IBIT still managed $24.63 million in inflows and WisdomTree’s BTCW drew in $2.3 million amid the wider outflows. 

    Bitcoin ETF Flow: Farside Investors

    The underlying cause of the outflows can be attributed to investors digesting the latest data on inflation released on Friday. Notably, the US core Personal Consumption Expenditures (PCE) index climbed 2.9% year-over-year in July, the fastest pace since February, creating fears that the Federal Reserve may hold off on rate cuts.

    What May Lie Ahead This Week

    As a new trading week begins, Spot ETF flow in both Ethereum and Bitcoin is likely to depend on how investors continue to interpret the data. If inflation pressures persist, institutional investors may retreat further at the beginning of the week. However, any signs of cooling could see inflows resume mid-week, particularly into Ethereum, where fundamentals are currently favorable.

    On the price side of things, Bitcoin’s hold above the $108,000 price may offer some relief. However, it needs to stay above $110,000 in order for any upside move to gain momentum. At the time of writing, Bitcoin is trading at $109,910.

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    For Ethereum, a daily close above $4,500 could confirm the return of bullish confidence, whereas a slide below $4,400 might signal further weakness. At the time of writing, Ethereum is trading at $4,470, up by 1.7% in the past 24 hours.

    Featured image from Unsplash, chart from TradingView

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    Scott Matherson

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  • Crypto Tumbles Hard: Google Search Trends Call Last Local Market Top

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    The crypto market succumbed to a significant amount of bearish pressure starting on Thursday, August 28, with most large-cap assets tumbling to new lows on Friday, August 29. The price of Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to a new low of $107,850 at the start of the weekend.

    Unsurprisingly, the latest data shows that this latest price decline seen across the digital asset market could have been predicted. This conclusion is based on recent crypto activity on the world’s largest search engine, Google.

    Is The Crypto Bull Cycle Over?

    In an August 29 post on social media platform X, Alphractal founder and CEO Joao Wedson revealed that crypto-related searches on Google have surged to new highs in recent days. According to the on-chain data expert, this recent spike in Google searches suggests that Bitcoin and the broader crypto market might have reached a new local top.

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    This revelation is based on the Google Trends chart, which allows investors to assess the social engagement of different crypto-related topics on the search engine. As shown in the chart below, the metric compares various subjects, including cryptocurrency, Bitcoin, altcoins, centralized exchanges, and data aggregation platforms.

    Source: @joao_wedson on X

    As observed in the highlighted chart, the Google Trends metric recently witnessed a significant surge, suggesting increased public attention across multiple crypto topics. According to Wedson, spikes of this kind have historically coincided with whales entering the market to sell while “everyone is obsessed.”

    Moreover, the cryptocurrency market has often shown in the past its tendency to move in the crowd’s opposite direction. These trends explain the price decline witnessed by most digital assets in the past few days, as the market has seemingly reached a new local top.

    Wedson, however, noted that other on-chain signals say that the latest euphoria-driven market downturn doesn’t necessarily spell the end of the current bull cycle. “Think back to BTC hitting $124K—euphoria peaked online, whales sold aggressively, and we went short,” the Alphractal founder added.

    Wedson then advised investors to exercise caution when euphoria hits the crypto market, as it could hint at the imminence of a local top. The crypto analyst said that a better strategy would be to smartly exit the market at a high price and reenter at a cheaper rate later.

    Total Crypto Market Cap At $3.7 Trillion

    As of this writing, the total crypto market capitalization sits just above $3.7 trillion, reflecting an almost 4% decline in the past day. According to data from TradingView, more than $142 billion has been drained out of the crypto market in the last 24 hours.

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    The total crypto market cap on the daily timeframe | Source: TOTAL chart on TradingView

    Featured image from Shutterstock, chart from TradingView

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    Opeyemi Sule

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  • Bitcoin Hits 7-Week Low As $540-M In Trades Wiped Out

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    Bitcoin fell to its lowest levels since July 8 after Wall Street opened on Friday, with prices sliding and traders scrambling to reassess short-term plans.

    According to CoinGlass, 24-hour crypto liquidations neared $540 million as selling pressure intensified on major exchanges.

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    Whales And Exchange Distribution Pressure

    Based on reports from market watchers, heavy selling by large holders helped push the drop. Distribution on Binance was highlighted by traders as a key factor that worsened losses.

    Bitcoin lost nearly 5% on the day, and some large accounts were linked to the wave of sales that triggered stop orders and quick exits.

    Source: Coinglass

    Popular trader Daan Crypto Trades pointed to a “key reversal zone” around recent ranges and consolidation levels.

    Some experts had similar price levels on his radar, noting that Bitcoin failed to turn $112,000 into support. Other voices in the market flagged $114,000 as an important weekly close threshold for bulls.

    Source: Coinglass

    Bullish RSI Divergence Keeps A Sliver Of Hope

    Technical watchers found one bright spot. According to crypto commentator Javon Marks, the four-hour chart still shows a bullish RSI divergence — a pattern where the RSI makes higher lows while price makes lower lows. That setup can hint at an early reversal.

    Marks argued Bitcoin could stage a rebound. He suggested a move back toward $123,000 is possible, which would be roughly a +14% jump from current levels. That projection is optimistic, and it rests on momentum flipping quickly in favor of buyers.

    Macro Data, Seasonal Weakness Add Headwinds

    Seasonality and macroeconomic data added pressure. September has historically been one of Bitcoin’s weaker months, and investors were watching US inflation readings closely.

    BTCUSD now trading at $108,226. Chart: TradingView

    The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures index, matched expectations and showed signs of an inflation rebound.

    Still, the CME Group’s FedWatch Tool showed markets pricing in rate cuts in September, a factor that could help risk assets like crypto if it holds.

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    Range Bound For Now, Traders Watch $112,000–$114,000

    Reports have disclosed that traders are focused on a narrow set of price markers. If Bitcoin can reclaim $112,000 and hold a weekly close above $114,000, bulls would gain breathing room.

    If those levels fail, more downside is possible and short-term traders could face further liquidations.

    For now, the market looks tight. Some technical signals point to a rebound, but macro data and big sellers are keeping the mood cautious.

    Traders and investors alike are watching both price action and economic prints closely as the US heads toward key data and the Fed decision window on Sept. 17.

    Featured image from Unsplash, chart from TradingView

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    Christian Encila

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  • Bitcoin’s Next Stop $183K? On-Chain Data Points to Explosive Cycle Peak

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    Bitcoin remains under pressure after sliding from its all-time high above $124,000 earlier this month. At the time of writing, the asset trades at $110,219, reflecting a weekly decline of about 2% and a broader drop of more than 10% from its peak.

    Despite the correction, analysts continue to examine on-chain data for signs of the market’s next direction. Among the latest insights, CryptoQuant contributor CryptoOnchain highlighted the significance of the MVRV (Market Value to Realized Value) Price Bands, a long-observed metric used to assess market cycles.

    According to the analyst, Bitcoin’s current positioning above key support bands suggests the uptrend remains intact, but with room for both continued growth and potential volatility.

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    MVRV Price Bands Point to Potential Cycle Top

    The MVRV Price Bands model has historically been used to identify both bottoms and tops in Bitcoin’s long-term cycles. CryptoOnchain noted that the model’s lower band, often referred to as the “floor price,” reliably marked market lows in 2018 and 2022, while the upper band highlighted cycle peaks such as 2017 and 2021.

    Bitcoin realized value price model. | Source: CryptoQuant

    Currently, Bitcoin’s trading price is positioned well above the model’s floor price of around $52,300 and its median support level of approximately $91,600. This indicates what the analyst referred to as a “healthy uptrend” with persistent activity from long-term holders.

    Importantly, the model’s projected ceiling price suggests that Bitcoin could reach as high as $183,000 by August 2025, assuming historical trends remain consistent.

    The analyst emphasized that while the ceiling level offers a potential target, traders should monitor the mid-price band for signs of weakening momentum. A decisive move below this level could indicate a shift in trend, raising the possibility of deeper corrections even within a bullish cycle.

    Bitcoin Cost Basis Trends Reflect Market Behavior

    A separate analysis by CryptoQuant contributor BorisD provided additional context by examining the cost basis of Bitcoin investors on Binance. Data shows that the average deposit address cost basis on Binance has risen from $44,000 earlier this year to $62,000.

    This suggests that investors are actively accumulating at higher price zones, particularly around Bitcoin’s recent peaks. New whale investors, defined as large-scale buyers with significant holdings, currently hold an average cost basis of $108,000, which is emerging as a key support level.

    Bitcoin cost-basis comparison.
    Bitcoin cost-basis comparison. | Source: CryptoQuant

    According to BorisD, this level could serve as the foundation for the next leg of upward momentum if demand persists. At the same time, miner-linked wallets showed a slight reduction in their average cost basis from $58,000 to $54,000, hinting at modest selling pressure from mining operations.

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    Long-term holders, meanwhile, remain well positioned, with a cost basis near $40,000. This region has historically been considered a strong accumulation zone, providing resilience during broader market corrections. BorisD pointed out that cost basis levels often track closely with price behavior and can act as both support and resistance during volatile swings.

    Bitcoin (BTC) price chart on TradingView
    BTC price is moving downwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

    Featured image created with DALL-E, Chart from TradingView

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    Samuel Edyme

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  • Ethereum hits new all-time high as crypto bull market continues – MoneySense

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    2025 has been the year of “hard assets,” including gold and bitcoin (BTC), the latter often dubbed “digital gold.” As monetary policy eased, investors rotated into these inflation-hedging assets. 

    But that’s not the whole story. If you were laser-focused on gold and BTC this year, you may have missed two even stronger performers: silver and ethereum (ETH). As gold and BTC cooled in recent months, silver and ETH stole the spotlight. 

    The chart below compares the year-to-date price appreciation of these four assets. It’s clear that while ETH lagged the others until April, it’s since shot up to overtake them.

    Source: Google Finance as of Aug. 26, 2025

    While gold and BTC get most of the press and the spotlight, it’s not surprising that the second-largest assets in their respective asset classes (precious metals and crypto) have outperformed this year. In fact, in an earlier edition of this column, I’d written that based on earlier crypto market patterns, ETH could well outperform BTC in 2025—and so far, that’s been the case.

    How high could BTC and ETH go in 2025?

    In my previous column, I’d written that it would be reasonable to expect BTC to possibly hit $160,000 (all figures in U.S. dollars unless otherwise specified). Other major Wall Street analysts, including Citigroup and FundStrat’s Tom Lee, have suggested that BTC could reach about $200,000 or more before this bull market is over. So, what does that mean for ETH? 

    If past cycles are any guide, this crypto bull market could still have legs. 

    ETH is currently trading at $4,496, but a move to $8,000 wouldn’t be unreasonable. That would represent a 64% gain from today and would still be less than 2x its previous all-time high of $4,878 (set in November 2021). In every prior bull market since ETH’s launch in 2015, it has set a new all time high with gains of at least 270% from the previous one. An approximately 100% gain from its last peak would actually be relatively conservative.

    The best crypto platforms and apps

    We’ve ranked the best crypto exchanges in Canada.

    Ethereum ETFs lead the charge in ETH resurgence

    ETH ETFs did for ethereum in 2025 what BTC ETFs did for BTC in 2024: provided the legitimacy and means for institutions and other large investors to allocate a percentage of their capital to ETH without exposing themselves to the risks associated with direct exposure to the cryptocurrency itself. 

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    The chart below clearly shows how inflows to ETH ETFs picked up in April-May 2025—coinciding with the beginning of ETH’s 2025 bull run. July and August were bumper months for ETH ETFs with net inflows of $4.86 billion and $3.23 billion, respectively.

    Bar graph of Ethereum ETF inflows over the past year
    Source: Coinmarketcap as of Aug. 26, 2025

    Canadian investors who’re bullish on ETH are spoiled for choice with regard to ETH ETFs. These ETFs are attractive to investors because they can be held in registered accounts like tax-free savings accounts (TFSAs), registered retirement savings plans (RRSPs), first home savings accounts (FHSAs), and others. 

    Learn more: How to invest tax-free in a bitcoin ETF

    Should you invest in ETH treasury companies?

    After the success of Strategy (MSTR), Michael Saylor’s Nasdaq-listed BTC treasury company, a new class of ETH-focused treasury companies have emerged. These companies follow a similar playbook to MSTR: holding a significant portion of their corporate reserves in ETH, aiming to accumulate more over time through both price appreciation and staking rewards. 

    Ethereum staking involves locking up ETH to help secure the network and validate transactions. In return, stakers earn additional ETH—somewhat like dividends in traditional equity investing.

    Here’s a comparison of the two most prominent ETH treasury companies currently trading on public markets that Canadian investors can buy:

    So, should you invest in an ETH treasury company? It’s still far too early to tell how this new category of ETH-focused treasury companies will perform. Both BMNR and SBET only announced their treasury strategies in June or July 2025—that’s hardly enough time for meaningful price discovery. Most individual investors in Canada may want to stick to ETH itself or to ETH ETFs, of which Canada has many to offer.

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    Aditya Nain

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  • Global fintech funding: Crypto fintech Mesh gains funding through stablecoin

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    While fintech funding remains under the highs of 2020 and 2021, crypto companies were able to raise money in the first half of 2025 as stablecoin interest revved up.  The global fintech market saw $44.7 billion in investments during the first half of the year, the lowest six-month period since the first half of 2020, […]

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    Vaidik Trivedi

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  • Over 100 Crypto Companies Join Forces To Protect DeFi In Market Structure Bill

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    Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

    Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

    Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

    One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

    Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

    Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

    However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

    Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

    With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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    Ronaldo Marquez

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  • LINK Price Climbs Following Chainlink’s Deal With US Commerce Department, Eyes $30

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    Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

    Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

    Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

    One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

    Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

    Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

    However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

    Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

    With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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    Ronaldo Marquez

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  • The White House Is Going to Put Government Statistics on the Blockchain (Yeah, We Don’t Know Why Either)

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    Remember back in 2017 when Bitcoin’s price soared and companies started promising to add everything to the blockchain? It was an embarrassing era, since blockchain technology has very few practical purposes that can’t be solved by a regular, old-school database. But it sounds like the White House just got the memo and wants to usher in the world of 2017 again.

    President Donald Trump held a televised “cabinet meeting ” at the White House on Tuesday that clocked in at over 3 hours and 15 minutes. It was a marathon session of ass-kissing from the Trump regime’s most despicable characters. But the announcement that really stood out to us, aside from all the normalization of fascist language, was Commerce Secretary Howard Lutnick’s promise to put government statistics on blockchain.

    “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto president, and we are going to put out GDP on the blockchain so people can use the blockchain for data distribution,” Lutnick said.

    “And then we’re going to make that available to the entire government so all of you can do it. We’re just ironing out all the details so we can do it.”

    Lutnick then quickly moved on to another topic, but it was an odd thing to suggest. Why blockchain? Apparently, because Lutnick associates it with crypto. But it’s hard to imagine what problem putting statistics on the blockchain will solve.

    The idea behind blockchain is that it’s a decentralized ledger. And it’s a neat idea, but it doesn’t actually solve very many problems beyond maintaining the existence of cryptocurrency like Bitcoin. A normal spreadsheet or database typically works just fine for distributing information of the kind Lutnick wants to put out.

    Trump infamously had a dispute with some of the government’s top officials who produce government statistics, firing the head of the Bureau of Labor Statistics, Erika McEntarfer, earlier this month. Trump falsely claimed that McEntarfer had produced “rigged” data that had been “manipulated for political purposes” when numbers were revised to show less job growth than had been previously reported.

    Trump’s social media platform, Truth Social, just happened to announce a new partnership with Crypto.com on Tuesday, according to the Wall Street Journal, so maybe Lutnick’s promise to put stats on the blockchain was inspired by that in some way. Whatever was behind the idea, Trump and his family have reaped billions of dollars through their crypto associations.

    The meeting went to a lot of other weird places, especially when Trump was asked about his plans for deploying the National Guard to blue cities around the country. The president has flooded Washington, D.C., with federal agents under the pretext of cracking down on crime.

    “The line is that I’m a dictator, but I stop crime. So a lot of people say, ‘You know, if that’s the case, I’d rather have a dictator,’” Trump said Tuesday.

    Trump expressed the same sentiment on Monday, making it clear that this wasn’t just a verbal slip. He really wants to normalize the idea that dictators may get a bad wrap and are necessary to fight crime. And he’s threatened to send troops to places like Chicago as a show of force.

    Maybe they can put the crime statistics on the blockchain, too. Why not? It’s supposed to be the fix for everything, according to crypto fans. Now, if we could only get a White House reporter to ask Trump what he thinks blockchain technology is all about. It would almost certainly be a comical answer from the 79-year-old.

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    Matt Novak

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  • A College Dropout, an Ex–Investment Banker, a Guy With a 28-Bedroom “Mega-Villa”: Meet Crypto’s Newly Minted Billionaires

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    In 2025, crypto holdings reportedly account for anywhere between 10% to nearly all of Donald Trump’s wealth, a truly wild turn of events given that (1) he spent most of his adult life associated with the real estate and entertainment industries, and (2) he once claimed digital assets were “based on thin air” and called Bitcoin a “scam.” Now the president is all in, hosting meme coin dinners, launching NFT collections, signing executive orders to allow crypto in 401(k)s, and announcing plans to create a “strategic national bitcoin stockpile.” (Meanwhile,  Trump’s non-financial-adviser adult sons are urging every “average American” to “buy as much [bitcoin] as you can.”) In response, Senate Democrats have introduced the End Crypto Corruption Act, the purpose of which, per cosponsor Mark Kelly, is to “make it illegal for the President and other government officials to make a profit from crypto assets.”

    But the president of the United States and his family aren’t the only ones making huge sums of money from the crypto world. According to Forbes, there are now more than a dozen crypto billionaires. Thanks to extremely lucrative initial public offerings, three new crypto billionaires have been minted this month alone.

    One of those is Brendan Blumer, whose 30.1% stake in crypto exchange Bullish, which went public in mid-August, put Blumer’s holdings at around $2.8 billion. (Bullish’s former parent company was Block.one, which has been described as a “bit of a pariah in the crypto world” and in which billionaire venture capitalist and JD Vancebenefactor Peter Thiel was an investor.)  Iowa-raised Blumer got his start “selling in-game digital assets for online games including World of Warcraft” at the age of 15, according to Bloomberg. Later, he moved to Hong Kong, and in 2020, gave up his US citizenship. According to Mansion Global, in March—before he became a billionaire, but when he was apparently already extremely rich—Blumer bought a 28-bedroom Sardinian estate for a record-breaking $172 million. Also adding three commas to his net worth via the Bullish IPO is Kokuei Yuan, who holds a 26.7% stake in the company. Far less is known about Yuan, who, according to Bloomberg, graduated from Tufts with degrees in economics and studio art, once worked as an investment banker at CLSA, and cofounded Okay.com, a property firm, with Blumer. His stake worth in Bullish is approximately $2.5 billion.

    When stablecoin platform Circle Internet Group Inc—which sounds remarkably like the name of some circa 1990 internet company—went public in June, cofounder Jeremy Allaire saw his net worth hit more than $1.7 billion. Allaire, a graduate of Macalester College, who has been founding online companies for the last 30-something years—and helped Noam Chomsky set up a website to archive his correspondence—has called crypto a “purple issue,” politically. In January, Circle donated $1 million to Trump’s inaugural committee; in July, he was at the White House when Trump signed the GENIUS Act, a crypto regulatory bill, into law.

    And then there’s tech founder Dylan Field, who became a billionaire six times over in August with the IPO of his company, Figma. While not a crypto company—Figma is a cloud-based design tool—it’s crypto adjacent. According to MarketWatch, “along with Figma’s business model of subscriptions from 13 million monthly users as a tool for online commerce and branding, the company has also invested tens of millions of its balance sheet into cryptocurrencies.” Field, whose stake worth in the company hit over $6 billion when Figma went public, got his start in the tech world after dropping out of Brown and receiving $100,000 from the Thiel Fellowship, which encourages young people to “build new things instead of sitting in a classroom.” (At the time, his father told CNBC, “I’m quite nervous, yeah. Most start-ups do fail. I think he has a good shot, but certainly not a sure thing by any means.”) Field, who had a brief stint in child acting, has been described by an investor as “super nice and…a huge pain in the ass to negotiate with.” He’s also an NFT collector, and set a then record in 2021 when he sold “an avatar of a pipe-smoking, hat and sunglasses-wearing teal alien” for $7.5 million.

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    Bess Levin

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  • Sleepless In Crypto: $900-M Liquidated Amid Bitcoin’s Steep Fall

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    A significant plunge in the crypto market has sent shockwaves across the industry over the last 24 hours, leaving a trail of liquidations in its wake. Around 200,000 traders were forced out of their positions as Bitcoin plunged to a seven-week low, wiping out more than $900 million in liquidations over a single day.

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    According to CoinGlass, most of those losses came from long bets that could not weather the slide.

    Liquidations Hit Retail Traders

    Reports have disclosed that a single large sale helped set off the cascade. Selling pressure intensified as a large holder offloaded 24,000 BTC, triggering a wave of liquidations, said Rachael Lucas, a crypto analyst at BTC Markets.

    On Coinbase, Bitcoin briefly fell below $109,000 — its weakest level since July 9. Market participants felt the shock fast; traders who were long were the ones most exposed.

    Source: Coinglass

    Macro Signals And Market Reaction

    A recent hint from Federal Reserve Chair Jerome Powell at Jackson Hole about potential interest rate cuts changed how some investors priced risk.

    Since August 14, when Bitcoin reached an all-time high just over $124,000, the asset has corrected by over 10%. Based on data, the drop since Powell’s speech is about 7%.

    The single-day move was measured at close to 3% decline for Bitcoin, and total crypto market value slipped back below $4 trillion to about $3.83 trillion as almost $200 billion flowed out of the space.

    Ether Is Holding Up

    Ether traded near $4,340 and, for now, looks steadier than Bitcoin. It did fall, but it did not breach last week’s low. Institutional interest in Ether remains a talking point. According to Lucas, institutions continue to focus on Ethereum, even as traders reassess risk across smaller coins.

    BTCUSD trading at $110,312 on the 24-hour chart: TradingView

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    Altcoins Took Bigger Hits

    Many smaller tokens fell harder than the majors. Solana, Dogecoin, Cardano, Chainlink, and Sui were among the worst hit.

    That pushed losses beyond the headline Bitcoin numbers and left traders in altcoin-heavy positions nursing larger drawdowns.

    Thin weekend liquidity served to enhance the price gyrations, making the action more extreme than it would have been on a more active trading day.

    September’s Track Record And Outlook

    There is also a historical component to the tale. September has a history of strong pullbacks in bull markets, with strong corrections in 2017 and 2021.

    Featured image from Meta, chart from TradingView

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    Christian Encila

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  • Why Are Grown Men Throwing Dildos At WNBA Games, and WTF Does Crypto Have To Do With It?

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    Earlier this week, a third man was arrested for allegedly throwing a sex toy—specifically, a dildo—at the court during a WNBA game, a trend started in July that a cryptocurrency group has taken credit for, while claiming not to be associated with (all of) the people who’ve been apprehended by law enforcement. If you understood each individual word of that sentence but feel like your brain might explode when trying to figure out what it means in context, we’ve got you covered.

    Wait so…what?

    Let’s rewind for a second. On July 29, a man attending a WNBA game (the Atlanta Dream versus the Golden State Valkyries) threw a green dildo onto the court during the fourth quarter; play was stopped and an official kicked the object off of the court. Days later, at a game between the Valkyries and the Chicago Sun, another green dildo was thrown onto the court during the third quarter, similarly leading to a stoppage in play. On August 5, a similar sex toy was thrown at a game between the Los Angeles Sparks and the Indian Fever, seemingly in Fever guard Sophie Cunningham’s direction. At least three other incidents have been reported.

    What does crypto have to do with it?

    A consortium of cryptocurrency traders has taken credit for the stunts, claiming that they were planned in order to promote a memecoin called Green Dildo Coin, which was launched the same day the first dildo was thrown. A spokesman for the group, who would only reveal his social media handle, @Daldo_Raine, told USA Today the memecoin was created as a way to protest the “toxic” environment of the crypto world. He claimed there is no intent to hurt anyone and that the group is definitely not engaging in misogynistic behavior. “We didn’t do this because like we dislike women’s sports or, like, some of the narratives that are trending right now are ridiculous,” he said. “Creating disruption at games is like, it happens in every single sport, right? We’ve seen it in the NFL, we’ve seen it in hockey, you know…fans doing random things to more or less create attention.” Posts from the group’s Telegram community, reviewed by USA Today, show one user declaring, shortly before tipoff on the night of the first incident, “We will soon buy the league.”

    Who has been arrested?

    On August 1, Delbert Carver of Marietta, Georgia, was arrested for allegedly throwing a green dildo onto the court during the Dream game against the Phoenix Mercury; according to ESPN, police records show that “Carver was detained after trying to flee and confessed to throwing the first sex toy July 29 as well. He faces counts of disorderly conduct, public indecency/indecent exposure and criminal trespass.” (Carver did not respond to multiple requests for comment from ESPN; @Daldo_Rain told the outlet that Carver was not the thrower of the object on July 29, but declined to say who threw it.)

    On August 5, an 18 year-old named Kaden Lopez, was arrested during the Phoenix Mercury-Connecticut Sun game, with court records claiming, per ESPN, that “Lopez removed a green sex toy from his sweatshirt pocket, threw it and hit two spectators, including one minor. After the toss, he attempted to leave the building. An arena volunteer witnessed the incident, followed Lopez and tackled him.” While denying association with Carver, the memecoin group has claimed Lopez was part of their stunt; in the group’s Telegram chat, he was reportedly dubbed a “hero” and a “legend.” (Lopez has been charged with misdemeanor disorderly conduct and misdemeanor assault.)

    On August 20, Charles Burgess, of Dayton, Ohio, surrendered at Brooklyn’s 78th Precinct, where he was charged with third-degree assault attempted, assault in the second and third degrees, second-degree reckless endangerment, second-degree menacing, third-degree obscenity, fourth degree criminal possession of a weapon, interference with a professional sporting event and second-degree harassment. According to prosecutors, Burgess pulled a green dildo out of his pocket during an August 5 New York Liberty game and threw it towards the court, hitting a 12 year-old in the leg. Burgess’ attorney told the New York Post that his client “voluntarily surrendered,” is married with six kids, and has “absolutely no criminal record.” The attorney also claimed that  “video evidence” shows that “no one was actually struck by the thrown object rendering any of the included assault charges unsustainable,” and that “Mr. Burgess intends to vigorously fight these embellished and exaggerated charges.”

    Is this as misogynistic as it sounds?

    Sure seems like it! While some have attempted to claim otherwise by noting similar incidents that have occurred at NFL games—for instance, Buffalo Bills fans have been known for throwing dildos on the field during games against the New England Patriots—others are not convinced. As Slate’s Christina Cauterucci notes, “football players wear helmets and padding on a field 12 times larger than a basketball court, making a flying dildo much less dangerous. And it’s foolish to pretend that the context is identical. Throwing a piece of penis-shaped, penetration-ready silicone at a woman in her workplace sends a much different message than tossing one at a man.”

    What has the league said?

    On August 4, the WNBA said in a statement: “The safety and well-being of everyone in our arenas is a top priority for our league. Objects of any kind thrown onto the court or in the seating area can pose a safety risk for players, game officials, and fans. In line with WNBA Arena Security Standards, any fan who intentionally throws an object onto the court will be immediately ejected and face a minimum one-year ban in addition to being subject to arrest and prosecution by local authorities.” A day later, Los Angeles Sparks coach Lynee Roberts said: “It’s ridiculous. It’s dumb. It’s stupid. It’s also dangerous, and you know, player safety is No. 1, respecting the game, all those things.”

    What have players had to say?

    On August 1, Cunningham wrote on X: “stop throwing dildos on the court… you’re going to hurt one of us.” The same day, Sky center Elizabeth Williams told reporters: “It’s super disrespectful. I don’t really get the point of it. It’s really immature. Whoever is doing it needs to grow up.” New York Liberty forward Isabelle Harrison wrote on X: “ARENA SECURITY?! Hello??! Please do better. It’s not funny. never was funny. Throwing ANYTHING on the court is so dangerous.” Former Phoenix Mercury guard Diana Taurasi told Front Office Sports: “I would have picked that thing up and thrown it right back at them.”

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    Bess Levin

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  • What’s Next For Bitcoin? Key Developments After Falling To $112,000

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    The market’s leading cryptocurrency, Bitcoin (BTC), has recently attempted to stabilize around $112,000 after experiencing a sharp decline to $110,000 on Sunday, meaning a 10% drop from all-time high (ATH) levels. 

    Ahead of the Federal Reserve’s (Fed) September meeting, market expert Doctor Profit highlighted on X (formerly Twitter) the upcoming implications and the most important technical indicators that paint a bleak picture for Bitcoin (BTC) and the broader market.

    Fed Rate Cut To Trigger A New Market Correction?

    Doctor Profit emphasized that the current market environment is markedly different from previous cycles. He believes that the anticipated rate cut by the Fed next month could initiate a robust correction in both stocks and cryptocurrencies. 

    According to him, the first significant cut typically brings uncertainty, leading to divergent opinions among investors, and he predicts that this time will be no exception. 

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    Turning to Bitcoin’s technical indicators, the outlook appears bearish. The expert noted a substantial Chicago Mercantile Exchange (CME) gap around the $93,000 mark that needs addressing, with most liquidity concentrated in the $90,000 to $95,000 range. 

    Key levels for Bitcoin in case of a new correction below $100,000. Source: DoctorProfit on X

    The charts indicate a potential correction, highlighted by a double top formation and declining trading volume. Notably, Doctor Profit has asserted that the last price surge that saw BTC reach $124,000, was largely driven by futures rather than spot market activity, reinforcing the bearish sentiment.

    Bitcoin Price Forecast

    Market psychology plays a crucial role in this analysis. On-chain metrics and sentiment indicators reveal that retail investors often buy high and sell low. 

    The expert disclosed that during Bitcoin’s last dip from $110,000 to $98,000 between May and June of this year, it was primarily institutional investors who capitalized on the lower prices, while retail buyers missed out. 

    As prices climbed, retail investors entered the market at higher levels, Doctor Profit added, which could lead to a shakeout as Bitcoin approaches the critical liquidation zone of $90,000 to $95,000.

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    Beyond Bitcoin’s price action, Doctor Profit warns that the current market sentiment reflects a false sense of optimism, suggesting that the prevalent belief in a sustained altcoin season is misguided. He cautions that as enthusiasm grows, larger players may begin to offload their positions, leaving retail investors exposed.

    Looking ahead, he forecasts a potential surge in Bitcoin prices towards $145,000 to $150,000, which could potentially mean a  34% increase from current levels. The expert also expects Ethereum (ETH) to reach between $7,000 and $8,000 following the September correction.

    Bitcoin
    The daily chart shows BTC’s 10% price retrace. Source: BTCUSDT on TradingView.com

    When writing, Bitcoin trades at $112,560, recording a 6% drop in the fourteen-days time frame. Ethereum on the other hand, has continuously positioned among the market’s top performers with a 5% surge during the same period.  

    Featured image from DALL-E, chart from TradingView.com 

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    Ronaldo Marquez

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