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Bitcoin

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Crypto Trends

Slides 4% Amid Bitcoin Sell-Off, but Cup-and-Handle Setup to $5 Intact

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Token retreats from $3.02 resistance in a volatile August 28–29 session as distribution pressure meets fresh accumulation at $2.85–$2.86 support.

By Shaurya Malwa, CD Analytics

Updated Aug 29, 2025, 5:16 p.m. Published Aug 29, 2025, 2:47 p.m.

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Flare Lands Second Public Company For its XRP DeFi Framework

Combined with Firelight, Flare’s restaking layer, the setup lets companies convert XRP into FXRP and allocate it across decentralized lending, staking and liquidity protocols.

What to know:

  • Everything Blockchain Inc. has signed a memorandum of understanding to adopt Flare’s XRPFi framework for corporate treasury yield.
  • Flare’s system aims to transform XRP into a productive asset for institutions through its FAssets system and Firelight restaking layer.
  • The adoption by two public companies, including VivoPower International, signals a shift in how digital assets like XRP are utilized by institutions.



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This $5B Bitcoin Whale Moves Billions Of Btc Into Ethereum
Crypto Trends

This $5B Bitcoin Whale Moves Billions of BTC Into Ethereum

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A major Bitcoin whale controlling over $5 billion in BTC has executed massive trades over the past week, selling substantial Bitcoin positions to purchase Ethereum.

According to Arkham Intelligence data, the whale moved $1.1 billion worth of Bitcoin to Hyperliquid trading platform while simultaneously acquiring approximately $2.5 billion worth of Ethereum.

The Whale’s Total Holding | Source: Arkham

Just last week, the same whale had already bought around $2.5 billion worth of Ethereum, which is turning heads as Bitcoin prices weakened while Ethereum managed to hold firm. 

Data from Arkham showed that the whale was holding $5.5 billion in Bitcoin reserves but has now started to break it down and move it around after years of little to no transfer.

One address connected to the whale moved 10,000 BTC, which came from a larger reserve wallet that still has $1.6 billion left in Bitcoin. Another large wallet linked to the whale holds $3.5 billion in BTC and was last active just a week ago.

As of now, the whale still controls more than 14,495 BTC in the largest wallet, even after heavy transfers. One other address was emptied in late August, leaving behind only dust amounts of Bitcoin. 

Before this week’s transfer, the whale was already holding 220,451 ETH. This makes the whale one of the five biggest Ethereum holders in the world. If they continue buying, they may even pass the Ethereum Foundation, which is a rare thing to happen.

The shift came as ETH doubled in value against Bitcoin, rising from months of trading near 0.020 BTC to a one-month high. The whale carried out the trades on Hyperliquid’s spot market, using both spot and futures positions. 

This caused Bitcoin to drop by at least $4,000 last week, while at the same time adding to Ethereum’s growing scarcity.

At the time of writing this report, both tokens are down by 3%, but Ethereum is still holding above $4000, while Bitcoin is down to $108k, according to CoinMarketCap.

Also Read: Trump-Linked WLFI Heads to Major Exchanges with Sept 1 Launch



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Warning Pattern on Bitcoin Chart Puts $100,000 in Danger
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Warning Pattern on Bitcoin Chart Puts $100,000 in Danger

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The weekly chart of Bitcoin starts showing warning signs that could have serious consequences. The Bollinger Bands, in particular, show that the price might drop below $100,000. That is a line that has been a major support level for the whole crypto market, both technically and in a psychological sense.

The setup is clear on the one-week time frame: Bitcoin rejected the upper band near $124,000 and is now sliding back toward the midline around $107,000. BTC has hit the top of this channel several times in the past, and each time, it has dropped after a short rise. 

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If the midband does not hold, the lower edge of the structure comes into play near $88,000, which would mean a loss of the six-figure price point.

Source: TradingView

The pattern is important because it is consistent. Earlier this year, a dip into the lower band marked the start of a strong rebound, while rejections in March and July signaled extended drawdowns.

This latest move looks a lot like those earlier reversals, so it seems like the market might be entering a corrective phase again, even though there was optimism after the $124,000 peak.

What’s next for Bitcoin?

The outside world is making the situation more fragile. With Bitcoin, the combination of technical rejection and macro uncertainty make it more likely that there will be a deeper retreat if buyers cannot hold the $100,000 level.

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For now, the $100,000 line is being used as the dividing point. If it closes below that this week, it will confirm the Bollinger Bands signal and bring attention to $88,000 per BTC as the next big thing to watch.



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GameFi Guides

Bitcoin Whale Sitting on $5 Billion Dumps More BTC to Buy Ethereum

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In brief

  • A Bitcoin whale connected to wallets holding $5 billion in BTC is dumping some holdings for Ethereum.
  • The holder deposited at least 2,000 BTC on Hyperliquid, selling it in batches for ETH.
  • Other Bitcoin whales have played a similar trade of late as ETH rose to a new all-time high price.

A major Bitcoin holder deposited 2,000 Bitcoin—worth more than $216 million—to Hyperliquid’s exchange and methodically sold it into Ethereum, according to data from network block explorer Hypurrscan. 

The address ending in “eCb43” first received 1,000 BTC worth around $108 million across two transactions around 10:57 a.m. ET this morning. Shortly thereafter, the account began selling small batches of Bitcoin for Ethereum, often selling 1-1.5 BTC at a time and purchasing the corresponding amount in ETH until its Bitcoin was exhausted. 

It later re-upped with another 1,000 deposit, following the same playbook before ultimately transferring all of the Ethereum—more than 42,750 ETH—out of its wallet. 



On-chain analytics firm Arkham Intelligence has connected the address to others that collectively hold $5 billion worth of Bitcoin, and one that deposited at least $800 million worth of Bitcoin to Hyperunit on August 24. Hyperunit is a platform that allows native tokens like Bitcoin and Ethereum to be deposited and ultimately traded on Hyperliquid. 

“A whale holding over $5 billion of BTC is currently buying ETH. He just moved $1.1 billion of BTC to a new wallet and has started purchasing ETH through Hyperunit/HL,” Arkham posted on X. “This whale bought $2.5 billion of ETH last week, and he’s still buying.”

BREAKING: $5 BILLION BTC WHALE BUYING UP TO $1 BILLION $ETH

A whale holding over $5B of BTC is currently buying $ETH. He just moved $1.1 BILLION of BTC to a new wallet and has started purchasing ETH through Hyperunit/HL.

This whale bought $2.5 BILLION of ETH last week, and… pic.twitter.com/cMQWrYBmZb

— Arkham (@arkham) August 29, 2025

Last week, a Bitcoin whale played the same trade, opting to swap some of its BTC for a levered $75 million worth of long positions on ETH. 

Bitcoin whales have been coming alive of late. One Bitcoin billionaire recently made the largest transfer of “old BTC,” or coins which haven’t moved in 10 years, in history when it transferred more than $8 billion worth. 

Later, that same Bitcoin OG cashed out more than $9 billion of the top crypto asset, selling more than 80,000 Bitcoin acquired in the Satoshi-era via crypto asset firm, Galaxy Digital. 

Both Bitcoin and Ethereum are trading around 4% lower on Friday, changing hands for $108,196 and $4,318, respectively. 

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Crypto Price Today (Aug 29): Crypto Market Turns Red As Bitcoin &Amp; Altcoins Falls
GameFi Guides

Crypto Market Turns Red as Bitcoin & Altcoins Falls

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The crypto market is in red today as major tokens lost an average of 5% in the last 24 hours. In fact, the overall market valuation is down by 4% to $3.77 trillion despite a 10% surge in the overall trading activity which sits at $192.06 billion in volume over the same period. 

Bitcoin and Altcoins Lost Gains after Hitting New Highs

For instance, Bitcoin is trending downward after it hit a new all time high of $124 on Aug 12. Since then, the token has been dropping with strong momentum and failing to break structure to the upside. 

At the time of writing this report, Bitcoin is trading for $108,840, down 3.69% from yesterday, despite a modest 7.75% rise in trading activity which resulted in $68.72 billion in trading volume. With that, that market capitalization has dropped by 3.77% and now sits at $2.16 trillion.

Cronos CRO saw the largest dip so far with a 10% drop in 24 hours. At the time of writing this report, CRO is trading for $0.28, a major drop from its intraday high of $0.34 which it was trading during the Asia trading hours.

At the same time, trading activity is down by 52.01% from the previous day. This led to a $1.16 billion in trading volume with $13.66 billion in trading volume, according to CoinMarketCap.

PYTH Surge 17% in 24 hours 

Despite the overall drawdown, some altcoin, especially Pyth Network, have managed to gain an incredible 17% in the last 24 hours. The token is currently trading for $0.2192 and leading the top crypto gainers on CoinMarketCap.

Satoshi Nakamoto Mystery to Hit the Big Screen Soon

This is thanks to a massive 422.85% surge in its trading activity which saw $2.53 billion in volume. The market cap currently sits at $1.26 billion, up 16.68% in 24 hours.

Trending Cryptos Today

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Pyth Network (PYTH)
  • Wormhole (W)
  • Chainlink (LINK)

Top Gainers & Losers Today

GainerLoserPyth Network (PYTH): +17.02%SPX6900 (SPX: -12.63Pump.fun (PUM): +10.3%Cronos (CRO): -12.11%Pi (Pi): +1.97%Fartcoin (FARTCOIN): -9.70%Four (FORM): 1.96%Pendle (PENDLE): -9.37%

Market Sentiments

According to CoinMarketCap, the Fear and Greed index is at 47, which is neutral. This means investor sentiment is steady. Now lets check what some specific coins faced today. 

The recent data from  Coinglass show that about $545.87 billion were lost in total. $453.34 million from that amount came from traders who took long positions while $92.58 million came from short. Meanwhile, 143,175 traders were liquidated in the last 24 hours.

Also Read: Michael Saylor Faces Backlash as His Bitcoin Premium Sinks

Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.



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Crypto Trends

Eric Trump: Bitcoin Enables Finance With ‘No Disparity’ Between Classes

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In brief

  • Eric Trump told the Bitcoin Asia conference that Bitcoin marks the first time finance has “no disparity” between socioeconomic classes.
  • Trump also spoke of sovereign wealth funds, Fortune 500 companies, and nation states driving adoption.
  • His remarks highlight a tension between Bitcoin’s populist narrative and elite accumulation, observers told Decrypt.

Speaking at the Bitcoin Asia conference in Hong Kong on Friday, Eric Trump, son of U.S. President Donald Trump, argued that Bitcoin marks the first time in the history of finance where “there is no disparity between socioeconomic classes.”

In a fireside chat, Trump shared remarks on how his father has championed the crypto industry, recounted how he entered the space, and highlighted his family’s deepening ventures into crypto and digital assets.

“The traditional financial system in the world has benefited guys like me, and it hasn’t benefited the vast majority of people,” Trump said onstage, adding that it “benefits the people that were fortunate enough to have some zeros behind their name.”

Those people, he said, were the ones who can “call the heads of the bank and negotiate off a full point on a loan, or get all the fees knocked out.”

Trump went on to argue that Bitcoin operates without those advantages.

“For the first time, you have a community that is agnostic to true wealth,” he said, arguing that it “gives the person in sub-Saharan Africa the same opportunity as the executive on Wall Street in New York City.”

Aspiration and privilege

Eric Trump’s portrayal of Bitcoin as “the greatest asset that’s arguably ever been created” as a level playing field that’s continuously being made “more accessible to the masses” stood in contrast to other parts of his talk.

Earlier, he had discussed how sovereign wealth funds, Fortune 500 companies, and nation states are buying Bitcoin heavily, sharing anecdotes on having breakfast with “a couple of the most powerful people in the region.”

Decrypt has reached out to Eric Trump and the Trump Organization for comment, and will update this article should they respond.

The tension between Bitcoin’s image as an egalitarian ideal and its current reality as an asset concentrated among elites remains central to the debate over how far the technology has lived up to its promise.

“Eric Trump’s words speak to the original aspiration of crypto. To be the great leveller, a financial system run by no one, open to everyone,” Conrad Young, co-founder of digital asset strategy firm Paragon, told Decrypt. “In practice, that vision remains only partly fulfilled.”

Trump is right that “some of the decentralised elements of crypto leave fewer levers for wealthy individuals to pull compared to traditional finance,” Young said. “But it’s also true that the industry today is dominated by institutions and large holders.”

“The gains retail investors have seen in this cycle were driven less by people-power and more by institutional recognition of Bitcoin and Ethereum,” he added.



Exposing socioeconomic divides

Nevertheless, crypto “opens doors in ways traditional markets do not,” Young said.

For people in developing economies, crypto “provides access to an asset class being shaped by Western institutions but available globally,” he noted. “The real levelling force for these communities comes through blockchain’s ability to move capital across borders.”

The crypto industry, through blockchain technology and digital assets such as Bitcoin, has “cast a harsh light on the deep socioeconomic divides of our world,” Ali Sammour, founder of decentralized commerce platform Droplinked, told Decrypt.

“We’re currently at a crossroads in society where the technology and asset could provide better financial liberty and freedom, but access is primarily still limited to the privileged,” Sammour said. “For billions, especially in emerging markets, even basic internet access is a luxury. The path to true financial inclusion is long, and we have a lot of work to do.”

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Why Bitcoin Pivots No Longer Guarantee a Stock Pump
Crypto Trends

Why Bitcoin Pivots No Longer Guarantee a Stock Pump

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The number of Bitcoin (BTC) treasury firms keeps on climbing, but announcing a BTC strategy is no longer a guaranteed way to pump a company’s share price.

The model was pioneered by Strategy (formerly MicroStrategy), now the world’s largest publicly traded corporate holder with 632,457 BTC at the time of writing. Since its first purchase in August 2020, Strategy’s stock has risen more than 2,200%.

As of Friday, Aug. 29, 2025, 161 publicly traded companies each hold more than 1 BTC, according to BitcoinTreasuries.net. Together, they hold 989,926 BTC — about 4.7% of Bitcoin’s supply.

A wave of newcomers joined the Bitcoin treasury club in 2025, but the market reaction has cooled. Some firms have diversified into Ether (ETH) instead, while others have seen their shares trade back down to, or even below, pre-announcement levels.

Here’s a look at some of those companies whose stock performance has failed to keep pace with their Bitcoin ambitions.

Public companies are the top Bitcoin holders among entities, as of Aug. 29.

GameStop: Holds 4,710 BTC

GameStop’s fate has long been intertwined with Bitcoin and crypto. In 2021, retail traders on the r/WallStreetBets subreddit triggered a short squeeze on GameStop’s stock, pushing meme finance into the mainstream.

Around the same time, memecoin Dogecoin (DOGE) surged on a wave of cultural hype, online communities and tweets from Elon Musk.

GameStop’s Bitcoin rally pales in comparison to its 2021 short squeeze.

On March 26, 2025, GameStop announced its plan to invest in Bitcoin. Unlike the meme-driven pumps of 2021, Bitcoin failed to recreate the same frenzy. GameStop’s stock initially jumped 12% on the announcement and later peaked at $35 per share on May 28 after the company revealed it had acquired 4,710 BTC.

Related: MicroStrategy’s Bitcoin debt loop: Stroke of genius or risky gamble?

But investors quickly sold the news in both events. On Thursday, its shares closed at $22.79, down more than 27% year-to-date.

Bitcoin-related GameStop news drove spikes, but sell-offs followed.

Empery Digital: Holds 4,019 BTC

Not every corporate Bitcoin buyer comes with the backstory of GameStop; many are unrelated to cryptocurrencies or blockchain. MicroStrategy was a business intelligence software firm before it pioneered Bitcoin treasuries. Japan’s Metaplanet started as a budget hotel operator before it began following the Strategy playbook in 2024. Its share price has since surged as much as 6,000%.

Volcon, an electric vehicle maker, announced a $500-million Bitcoin treasury strategy on July 17. Two weeks later, it rebranded as Empery Digital and adopted the ticker EMPD on Nasdaq.

EMPD is down 80% in 2025, and its Bitcoin treasury rally has cooled.

Before the pivot, Empery shares mostly traded between $6 and $7, well below their January high of $35. The Bitcoin announcement briefly lifted the stock to $21 on July 17, but the rally didn’t last. On Thursday, EMPD closed at $6.99, back in its usual range.

Sequans Communications: Holds 3,170 BTC

Sequans Communications, a French semiconductor firm that listed on the NYSE in 2011 under the ticker SQNS, has a trading history that resembles a lackluster crypto token: hot listing spikes followed by long stretches of investor disappointment.

At the start of July 2025, SQNS was drifting at $1.45 after a year of steady decline. Its first Bitcoin purchase on July 10 briefly ignited a rally, sending shares as high as $5.39 in the following days. But the momentum quickly faded, and by early August, the stock had slid back to $1.25.

The announcement of the Bitcoin treasury plan pumped SQNS shares, but the stock resumed its tumble after the hype faded.

On Monday, Sequans announced a $200-million at-the-market equity offering to fund its plans to accumulate 100,000 BTC by 2030. The news did not stop SQNS from sliding; on Thursday, it closed at $0.91.

Its brief Bitcoin hype was only a small blip in its 14-year struggle with gravity.

Vanadi Coffee: Holds 100 BTC

Like many firms that turned to Bitcoin, Spanish cafe chain Vanadi Coffee was pushed into the strategy by financial distress. In 2024, the company reported 3.33 million euros ($3.9 million) in annual loss, up from 2.87 million euros the year before.

Vanadi shares are above pre-Bitcoin announcement levels but remain below where they stood a year ago.

The Bitcoin plan became official on June 29, and the next day, its shares surged to 1.09 euros, closing the month up more than 300% from the 0.27-euro opening price.

Related: Bitcoin’s quantum countdown has already begun, Naoris CEO says

By mid-trading on Friday, Aug. 29, 2025, the stock had slipped back to 35 euro cents. It’s still up 95.6% year-to-date but down 44% from the same point in 2024.

Ming Shing Group: Holds 833 BTC

Ming Shing Group, a Hong Kong-based construction and engineering company, was listed on the Nasdaq in November 2024. Soon after going public, it began accumulating Bitcoin, making its first purchase on Jan. 13, 2025, with 500 BTC. At the time of writing, it holds 833 BTC.

After debuting on Nasdaq at $5.59 on Nov. 22, 2024, its Bitcoin strategy initially drove shares to an all-time high of $8.50. Since then, the stock has slumped to $1.85 on Thursday’s close.

On Aug. 21, the company announced a $483-million deal to acquire an additional 4,250 BTC through a share issuance. If completed, Ming Shing would become Hong Kong’s largest corporate Bitcoin holder, surpassing Boyaa Interactive, which holds 3,640 BTC and currently ranks as Asia’s second-largest public Bitcoin treasury behind Metaplanet.

Ming Shing plans to double down on Bitcoin even as its shares continue to fall.

The recent announcement briefly lifted Ming Shing’s struggling share price, though most of the gains were erased the same day.

K Wave Media: Holds 88 BTC

South Korean entertainment company K Wave Media made its first Bitcoin purchase in July 2025, but its shares have been sliding ever since. The company has raised $1 billion for BTC acquisitions, yet the stock remains under pressure.

The initial announcement came on June 4 in a Securities and Exchange Commission filing, where K Wave disclosed a $500-million standby equity purchase agreement with Bitcoin Strategic Reserve. The filing also outlined plans to operate Lightning Network nodes and integrate BTC into its financial and consumer platform.

On May 13, Global Star Acquisition and K Enter Holdings completed a special purpose acquisition company (SPAC) merger to form K Wave Media. While the subsequent Bitcoin strategy briefly lifted the stock from its post-SPAC sell-off, the momentum quickly faded. Since the company’s first BTC purchase on July 10, shares have continued to decline, closing at $1.85 on Aug. 28 — just below the $1.92 level recorded on July 3, the day before its Bitcoin treasury filing.

K Wave Media’s share price is closer to its SPAC merger crater than it is to its Bitcoin spike.

Early success cases among Bitcoin treasury companies

These cases show that announcing a Bitcoin strategy remains a Hail Mary for struggling firms and doesn’t guarantee lasting gains. Share prices often spike on the news but rarely hold.

There are, however, a few digital diamonds in the rough. On May 12, healthcare provider KindlyMD announced plans to merge with Nakamoto Holdings to form a Bitcoin treasury company, now trading on Nasdaq under the ticker NAKA.

In recent months, Nakamoto Holdings has outperformed Metaplanet and has become the 16th-largest publicly traded Bitcoin holder, with 5,765 BTC.

Japanese nail salon franchiser Convano has been outperforming both Nakamoto Holdings and Metaplanet. At the time of writing, it holds 365 BTC, which is a relatively small war chest when compared to the likes of Metaplanet and Nakamoto Holdings.

Convano (6574) shares have been outperforming Asian Bitcoin giants like NAKA and Metaplanet.

Magazine: The one thing these 6 global crypto hubs all have in common…



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Ether (ETH) May Outperform Bitcoin (BTC) If PCE Inflation Report Is Soft: Crypto Daybook Americas
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Ether (ETH) May Outperform Bitcoin (BTC) If PCE Inflation Report Is Soft: Crypto Daybook Americas

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Crypto Daybook Americas will not be published on Monday due to the Labor Day holiday. It will return on Tuesday.

By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin BTC$110,163.05 has dropped nearly 3% to $109,800 in the past 24 hours, pulling the broader market, including ether (ETH), down with it. But those losses are nothing out of the ordinary, meaning major tokens are trading near recent valuations.

What’s new today is that BTC’s volatility is bouncing from recent multiyear lows (See Chart of the Day). The 30-day implied volatility, as represented by Volmex’s BVIV and Deribit’s DVOL indices, has surged above the 100-day simple moving average for the first time since mid-June. Perhaps the price turbulence that some traders predicted for August may unfold in September.

The increase could be noteworthy for stock traders as an early indicator of a potential uptick in Wall Street’s VIX. The VIX is inversely correlated with stocks, suggesting there’s of a rough day ahead on Wall Street, a possibility underlined by fiat liquidity dynamics.

“Market liquidity pressures are mounting as reserve balances decline and large Treasury settlements approach, leaving equities vulnerable despite lower volatility,” Michael Kramer, the founder of Mott Capital Management, wrote in the latest edition of the firm’s markets update.

One piece of data to keep an eye on is the U.S. core PCE release, due later today.

“This PCE release will shape the Fed’s future easing path rather than the September decision itself,” analysts from crypto exchange Bitunix wrote in an email. “If data comes in at or below expectations, risk sentiment can hold; but if significantly hotter, the Fed’s forward guidance may shift toward a ‘one-and-wait’ stance. Investors should focus on core services and wage trends, alongside U.S. Treasury yields and the DXY as key drivers of risk appetite.”

In the event of a soft CPI, ether may outperform because traders have been increasingly focusing on Ethereum’s native token. That’s evident from the ETF flows. This week, the U.S.-listed ETH ETFs have registered a net inflow of over $1 billion, SoSoValue data show. That’s close to double the $567 million entering the bitcoin ETFs.

In traditional markets, the spread between the U.S. 10- and two-year Treasury yields has risen to the highest since September 2022. The so-called curve steepening supports the bullish case in gold and bitcoin. Stay alert!

What to Watch

  • Crypto
    • Aug. 29, 2 p.m.: The Stellar Development Foundation will host a livestream on X to discuss how NEAR Intents will enable new DeFi use cases on the Stellar blockchain.
    • Aug. 30: Conflux (CFX), a layer-1 blockchain focused on high throughput and Ethereum compatibility, will activate its v3.0.1 hard fork network upgrade at epoch 129,680,000 introducing 8 enhancements to improve EVM compatibility, fix bugs and optimize performance. Node operators must upgrade before Sept. 1 to ensure network compatibility.
    • Sept. 1: Starknet (STRK), a layer-2 scaling product for Ethereum, will introduce its v0.14.0 mainnet upgrade featuring decentralized sequencing, subsecond transaction pre-confirmations and an EIP-1559 fee market to improve speed and decentralization.
    • Sept. 3, 10:15 a.m.: Tellor (TRB), a decentralized oracle network that operates as an Ethereum layer-2 blockchain, will upgrade its mainnet to version 5.1.1. The upgrade improves network performance and node operation, enhancing Tellor’s role in providing off-chain data to Ethereum smart contracts.
    • Sept. 4: Polygon will switch its mainnet token to POL from MATIC. Holders of MATIC on Ethereum, Polygon zkEVM or centralized exchanges may need to take action.
  • Macro
    • Aug. 29, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases July consumer income and expenditure data.
      • Core PCE Price Index MoM Est. 0.3% vs. Prev. 0.3%
      • Core PCE Price Index YoY Est. 2.9% vs. Prev. 2.8%
      • PCE Price Index MoM Est. 0.2% vs. Prev. 0.3%
      • PCE Price Index YoY Est. 2.6% vs. Prev. 2.6%
      • Personal Income MoM Est. 0.4% vs. Prev. 0.3%
      • Personal Spending MoM Est. 0.5% vs. Prev. 0.3%
    • Aug. 29, 11 a.m.: Colombia’s National Administrative Department of Statistics (DANE) releases July unemployment rate data.
      • Unemployment Rate Est. 8.9% vs. Prev. 8.6%
    • Aug. 30 – Sept. 1: The Shanghai Cooperation Organization (SCO) — a Eurasian intergovernmental alliance focused on regional security, economic cooperation, and political coordination — holds its 25th annual summit in Tianjin, China.
    • Sept. 1, 9 a.m.: S&P Global releases August Brazil data on manufacturing and services activity.
      • Manufacturing PMI Prev. 48.2
    • Sept. 1, 11 a.m.: S&P Global releases August Mexico data on manufacturing and services activity.
      • Manufacturing PMI Prev. 49.10
    • Sept. 1, 11 a.m.: Peru’s National Institute of Statistics and Informatics releases August consumer price inflation data.
      • Inflation Rate MoM Prev. 0.23%
      • Inflation Rate YoY Prev. 1.69%
  • Earnings (Estimates based on FactSet data)

Token Events

  • Governance votes & calls
  • Unlocks
    • Sept. 1: Sui SUI$3.3094 to release 1.25% of its circulating supply worth $153.1 million.
    • Sept. 2: Ethena ENA$0.6470 to release 0.64% of its circulating supply worth $25.64 million.
    • Sept. 5: Immutable (IMX) to unlock 1.27% of its circulating supply worth $13.26 million.
    • Sept. 11: Aptos APT$4.2801 to unlock 2.2% of its circulating supply worth $48.18 million.
  • Token Launches
    • Aug. 29: CeluvPlay (CELB) to list on KuCoin, Gate and MEXC.
    • Aug. 29: Camp Network (CAMP) to list on Bithumb.
    • Aug. 29: Kori (KORI) to list on KuCoin.

Conferences

The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB15 for 15% off your registration through Sept. 1.

Token Talk

By Shaurya Malwa

  • Solana (SOL) posted a 44% drop in second-quarter application revenue, sliding to to $576.4 million from $1 billion in the first quarter even as its DeFi sector expanded, according to Messari.
  • The downturn reflects weaker profitability across key decentralized apps. Pump.fun (PUMP) still led with $156.9 million, but was still down 44% as memecoin frenzy cooled.
  • Axiom was the outlier, surging 641% to $126.6 million, showing how fast protocol-specific growth can offset broader ecosystem weakness. Jupiter JUP$0.5124 earned $66.4 million (–16%), while Phantom and Photon were hit hardest with declines of 65% and 72%, respectively.
  • Despite revenue losses, DeFi TVL on Solana climbed 30% to $8.6 billion in the quarter and has since crossed $11 billion, cementing the chain as the largest DeFi network behind Ethereum.
  • Kamino Finance drove TVL growth, up 34% to $2.1 billion after introducing Kamino Lend V2, which attracted $200 million in deposits and $80 million in loans within three weeks. Kamino now controls 25% of Solana’s market share.
  • Raydium staged a strong comeback, rising 54% to $1.8 billion in TVL, reclaiming second place from Jupiter. It now commands 21% share versus Jupiter’s 19%.
  • Trading activity, however, told a different story: Average daily spot DEX volume fell 45% to $2.5 billion, reflecting a fading of the memecoin momentum that had fueled the previous quarter’s records.

Derivatives Positioning

  • Open interest (OI) in futures tied to the top 20 coins, excluding SOL, has decreased in the past 24 hours, indicating broad-based capital outflows.
  • SOL’s open interest, however, hit a record high 63.84 million, alongside a rally in the token’s price to $217, a level last seen in February.
  • The eight-hour funding rates for ether, tron and BNB flipped slightly negative, indicating a bias for bearish bets on a drop in prices. Funding rates for other major tokens were steady at around zero, indicating neutral sentiment.
  • OI in the CME bitcoin futures slipped to 135.72K BTC, the lowest since April, while ether OI remained elevated at record highs near 2.10 million ETH. The divergence suggests a continued preference among investors for ETH over BTC.
  • On Deribit, downside bias in BTC options has strengthened across all tenors, with puts trading at a five volatility premium to calls at the front end. ETH options display similar dynamics, marking a shift from bullish positioning early this week.
  • On Paradigm, block flows featured call selling and put rolling strategies in BTC and ETH. Market maker Wintermute pointed to demand for call spreads in the December expiry BTC options.

Market Movements

  • BTC is down 1.87% from 4 p.m. ET Thursday at $109,828.05 (24hrs: +1.95%)
  • ETH is down 2.66% at $4,013.41 (24hrs: -5.69%)
  • CoinDesk 20 is down 2.52% at 4,168.55 (24hrs: -3.73%)
  • Ether CESR Composite Staking Rate is up 2 bps at 2.92%
  • BTC funding rate is at 0.0056% (6.0992% annualized) on Binance
  • DXY is up 0.14% at 97.95
  • Gold futures are down 0.18% at $3,467.90
  • Silver futures are down 0.54% at $39.49
  • Nikkei 225 closed down 0.26% at 42,718.47
  • Hang Seng closed up 0.32% at 25,077.62
  • FTSE is down 0.27% at 9,192.27
  • Euro Stoxx 50 is down 0.52% at 5,368.49
  • DJIA closed on Thursday up 0.16% at 45,636.90
  • S&P 500 closed up 0.32% at 6,501.86
  • Nasdaq Composite closed up 0.53% at 21,705.16
  • S&P/TSX Composite closed unchanged at 28,434.80
  • S&P 40 Latin America closed up 1.07% at 2,770.74
  • U.S. 10-Year Treasury rate is up 1.8 bps at 4.225%
  • E-mini S&P 500 futures are down 0.32% at 6,496.75
  • E-mini Nasdaq-100 futures are down 0.47% at 23,657.75
  • E-mini Dow Jones Industrial Average Index are down 0.34% at 45,551.00

Bitcoin Stats

  • BTC Dominance: 58.41% (+0.25%)
  • Ether-bitcoin ratio: 0.03954 (-1.35%)
  • Hashrate (seven-day moving average): 978 EH/s
  • Hashprice (spot): $53.73
  • Total fees: 3.3 BTC / $371,906
  • CME Futures Open Interest: 135,720 BTC
  • BTC priced in gold: 32.2 oz.
  • BTC vs gold market cap: 9.11%

Technical Analysis

XRP’s daily chart. (TradingView/CoinDesk)

  • The chart shows XRP’s price is stuck within the Ichimoku cloud, indicating a clear directional bias in the market.
  • A move below the cloud would confirm a bearish trend shift, opening the way for a deeper decline.
  • The price has already established a downtrend since peaking at $3.65 in July.

Crypto Equities

  • Coinbase Global (COIN): closed on Thursday at $308.47 (-0.16%), -1.53% at $303.75 in pre-market
  • Circle (CRCL): closed at $130.94 (+2.78%), -0.69% at $130.04
  • Galaxy Digital (GLXY): closed at $24.51 (+0.41%), -2.08% at $24
  • Bullish (BLSH): closed at $64.43 (+0.7%), -2.5% at $62.82
  • MARA Holdings (MARA): closed at $15.96 (+0.69%), -2.26% at $15.60
  • Riot Platforms (RIOT): closed at $13.8 (+1.84%), -1.88% at $13.54
  • Core Scientific (CORZ): closed at $14.35 (+1.06%), -1.74% at $14.10
  • CleanSpark (CLSK): closed at $9.55 (-0.31%), -1.26% at $9.43
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $29.67 (+1.23%), +0.78% at $29.90
  • Exodus Movement (EXOD): closed at $26.16 (-4%), unchanged in pre-market

Crypto Treasury Companies

  • Strategy (MSTR): closed at $338.84 (-0.94%), -1.84% at $332.60
  • Semler Scientific (SMLR): closed at $30.63 (+0.23%), -0.2% at $30.57
  • SharpLink Gaming (SBET): closed at $18.46 (-4.2%), -3.14% at $17.88
  • Upexi (UPXI): closed at $8.09 (-1.58%), -5.32% at $7.66
  • Mei Pharma (MEIP): closed at $5.2 (+0.78%)

ETF Flows

Spot BTC ETFs

  • Daily net flows: $178.9 million
  • Cumulative net flows: $54.34 billion
  • Total BTC holdings ~1.29 million

Spot ETH ETFs

  • Daily net flows: $39.1 million
  • Cumulative net flows: $13.7 billion
  • Total ETH holdings ~6.6 million

Source: Farside Investors

Chart of the Day

BVIV. (TradingView/CoinDesk)

  • Volmex’s BVIV index, which represents bitcoin’s 30-day implied volatility, has risen above the 100-day simple moving average for the first time since April.
  • The uptick could be an early indicator of an impending rise in Wall Street’s so-called fear gauge, the VIX index.

While You Were Sleeping

  • China Says Stronger Ties With India Is in Interest of Both Sides (Bloomberg): China’s Foreign Ministry said Xi’s 2024 meeting with Modi restarted relations, stressing there was no “secret diplomacy” and that both sides are resuming dialogue while seeking a long-term strategic framework.
  • Stand Up to Trump on Big Tech, Says EU Antitrust Chief (Financial Times): The European Commission’s executive vice president said Brussels may walk away from a new trade deal if Trump demands weakening of the bloc’s Digital Services Act and Digital Markets Act.
  • Bitcoin Bull Market May End Early, Warns Key Indicator, But Flows Continue to Lean Bullish (CoinDesk): RSI, a key momentum gauge, suggests bitcoin’s rally may be running out of steam, but large trades in options markets suggest many investors are still betting on gains into year-end.
  • Bitcoin Headed to $190K on Institutional Wave, Research Firm Says (CoinDesk): Tiger Research argues record liquidity, ETF accumulation and Trump’s 401(k) order give bitcoin its strongest institutional setup in years, though weak retail activity and on-chain signals show risks remain.
  • IREN Posts First Full-Year Profit on AI Cloud Growth, Mining Expansion; Shares Climb (CoinDesk): The company reported a $86.9 million profit on record $501 million revenue, with bitcoin mining generating $1 billion annually and the AI cloud unit set to reach $250 million in annualized revenue by year-end.
  • A Tariff Loophole on Cheap Imports Has Closed. How Will It Affect Shoppers? (The New York Times): From today, individuals and businesses in the U.S. can no longer receive packages under $800 tariff-free from abroad, a change set to raise shopping costs and disrupt supply chains.

In the Ether



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Strategy's Saylor Talks About Future Amid Bitcoin Bloodbath
NFT Gaming

Strategy’s Saylor Talks About Future Amid Bitcoin Bloodbath

by admin


Michael Saylor picked a rough day to talk about the future. While Bitcoin was experiencing a slump and tons of leveraged bets were being wiped out, the Strategy chairman dropped a post with a dystopian cityscape and the caption “The Future is Orange.”

This message of long-term conviction is happening in the middle of one of the messiest periods Bitcoin has had in weeks.

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Just in the last day, over $410 million in positions were liquidated across exchanges, and most of the damage was from longs. Around $350 million in bullish bets were erased as Bitcoin plunged to $109,000.

Even in the four-hour period leading up to the drop, around $200 million in longs were liquidated, showing how crowded the upside trade had become after the run toward $123,000 earlier this month.

Derivatives data shows the scale. Open interest fell to about $80 billion, but the long-to-short ratios on Binance and OKX remained high, showing many stayed long into the fall. Yet, open interest dropped more than 20%, suggesting contracts were closed instead of new positions. On paper, it looks like a market that went too far and then hit a wall.

Saylor not bothered

For Saylor, this does not matter as much as it does for short-term speculators. Strategy holds over 200,000 BTC, and his feed rarely changes tone no matter what the chart is doing.

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The post, which depicts a man walking alone through an orange haze toward a futuristic vehicle, reads as a statement of faith: volatility is temporary, conviction is permanent. Whether the market agrees is another question, as Bitcoin is just above $109,000 with liquidation risk still high.



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Bitcoin
GameFi Guides

Bitcoin Infrastructure Gets $200-M Boost from Crypto Execs’ SPAC Push

by admin


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A group of crypto executives has filed to raise $200 million through a blank-check company that plans to list on Nasdaq under the ticker BIXIU.

According to a regulatory filing, Cayman Islands-based Bitcoin Infrastructure Acquisition Corp Ltd will offer 20 million shares at $10 each and then search for a private company to merge with and take public.

Experienced Crypto Team

The company’s leaders bring long ties to bitcoin and crypto firms. Ryan Gentry, named CEO, spent five years leading business development at Lightning Labs.

He also worked as a lead analyst at Multicoin Capital. James DeAngelis was picked as finance chief; he has run finance teams at Kroll, a firm involved in several crypto bankruptcy cases.

Vikas Mittal, a director, is the chief investment officer at Meteora Capital, the sponsor behind this IPO and a backer of the 2023 SPAC that took Bitcoin Depot public.

Image: NASDAQ

According To The Filing, Focus Will Be On Infrastructure

Bitcoin Infrastructure says it will look for targets involved in wallets, custody, exchanges, lending protocols and tokenized financial instruments, as well as applications such as payments, DeFi and cross-border finance.

The filing frames the SPAC as a vehicle to bring infrastructure-style businesses into public markets rather than speculative consumer tokens.

Market Appetite For Crypto IPOs

Wall Street money has already flowed into crypto companies that went public this year, and SPACs are part of that push.

BTCUSD now trading at $109,827. Chart: TradingView

Bullish and Circle Internet Group are two recent public debuts tied to crypto. In just two days, two crypto-focused SPACs raised a combined $575 million: CSLM Digital Asset Acquisition Corp III closed a $230 million IPO and M3-Brigade Acquisition VI Corp closed $345 million.

A prior M3-Brigade SPAC took ReserveOne public in July. These moves show there is still capital available for firms that promise a path to public markets.

Baggage And Risks Remain

There are reasons for caution. Kroll, where DeAngelis worked with finance teams, faces a lawsuit over a data breach that touched creditors of FTX, BlockFi and Genesis.

The SPAC itself has not named a target yet. That leaves investors buying into a plan without a clear deal on the table.

Blank-check companies have been criticized for raising large sums and then racing to find a suitable merger, which can lead to rushed decisions.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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