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Bitcoin Demand Cools While “Crypto Capital is Getting More Selective,” OKX’s Gracie Lin Warns

by admin August 21, 2025

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin steadied in Asia Thursday at $114,610 (+1.4%), clawing back some ground after last week’s slide, while ether outpaced with a 5.8% jump to $4,370.73 as investors rotated selectively across the market.

The CoinDesk 20, a measure of the performance of the largest crypto assets, is up 3.5%, trading above 4,078.

OKX Singapore CEO Gracie Lin said in a note to CoinDesk that the rising ETH/BTC ratio shows capital shifting into ether’s relative strength while Bitcoin consolidates.

“Crypto capital is getting more selective,” Lin told CoinDesk.

She stressed that this is not a broad “altseason,” but a targeted move into ETH as macro catalysts like the Jackson Hole conference and U.S. inflation data loom.

Fresh figures from CryptoQuant underline why Bitcoin’s rally has cooled. Apparent demand has dropped from 174,000 BTC in July to 59,000 BTC today, while ETF inflows have slowed to their weakest since April,” the firm wrote in a recent report.

Profit-taking remains heavy, with whales realizing $2 billion in gains on Aug. 16 alone, bringing total realized profits since July to $74 billion. CryptoQuant analysts now classify the market as in a “bullish cooldown” phase, with $110,000 flagged as an important support level.

In a note to CoinDesk, analysts at Enflux, a Singapore-based market maker noted that retail enthusiasm for altseason has dropped sharply compared to last week, even as strategic bets like BNB hitting all-time highs and Hyperliquid’s operational strength continue to draw capital.

“This indicates that the altcoin market is no longer a uniform beta trade, as macro conviction is forming, but more selective and concentrated, also on the institutional side,” the firm said.

The result is a market less defined by broad rallies and more by selective winners, with ETH setting the tone as capital stays in crypto but moves with sharper focus, favoring resilience over speculation.

Market Movers

BTC: Bitcoin edged up 1.4% to just above $114,000 while U.S. stocks slipped, and altcoins showed unusual resilience as BTC dominance nears a six-month low.

ETH: Ether outperformed bitcoin, climbing 5.8% as traders rotated into majors despite slowing BTC demand.

Gold: UBS raised its gold price target to $3,600 per ounce in Q1 2026, citing the strongest bullion demand since 2011 driven by U.S. macro risks, de-dollarization, and heavy ETF and central bank buying.

S&P 500: The Nasdaq fell 0.68% and the S&P 500 slipped 0.26% Wednesday as investors rotated out of tech stocks into sectors like energy, healthcare, and consumer staples ahead of the Fed’s Jackson Hole symposium.

Elsewhere in Crypto

Winklevoss Twins Heave $21M Toward Republicans in Next Year’s Congressional Battles (CoinDesk)
Crypto firms urge UK to form national stablecoin strategy to avoid falling behind U.S. (CNBC)
BitMEX Founder, Pardoned by Trump, Joins Longevity-Hacking Craze (Bloomberg)

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August 21, 2025 0 comments

GameFi Guides

Bitcoin Holds $113K Support, Can BTC Break Above $117.5K?

by admin August 21, 2025

The largest crypto asset by market capitalization, Bitcoin (BTC) is currently trading at $113,132 and showing resilience despite facing selling pressure in recent trading sessions.

The bulls are aggressively defending the price zone above $110,000, keeping the long-term view of a bullish movement as price action has formed a down-sloping channel pattern.

As the technical indicators point to the possible momentum and strong support areas hold, will investors witness a major price action in the price of BTC?

BTC ETF Shows Strength Despite Recent Outflows

With notable volatility in inflow and outflow of funds, the on-chain data shows a trend pattern. During the last month, Bitcoin experienced high purchase and intense selling activities especially during the close period of August where outflow peaked.

Despite recording 3 consecutive days of outflow, the overall net assets are at a high level of $146.18 billion, indicating confidence of long-term holders in the crypto market. Notably, trends of this nature are often recorded prior to large movements in price as the amount of liquidity in and out of the market shifts during this period.

Bitcoin Forms Strong Support At $112,000?

When looking at the chart from TradingView, Bitcoin moved within a dropping channel on the 4-hour time frame after it witnessed a major rejection around the $120,000 level. This type of structure hints at a short-term fix, but in the larger picture, it is considered bullish.

Overall, the structure suggests the favor of the accumulation, and traders impatiently wait for confirmation of a divergence of the trend to upside to start a sizable leg higher.

The MACD (Moving Average Convergence Divergence) is displaying indications of leveling off as it has approached the signal line, necessarily pointing to a possible change in the pace toward the positive side.

In the meantime, the volume of trades is going down and this can be the beginning of a good directional move. Exponential Moving Averages (EMA) are also showing positive setup to support the upward direction. If the rebound sustains enough to push price above 20-day EMA, a range bound action between the 20-day and 500-day EMA, which are currently at around $114,800 to $116,800 respectively.

Moreover, with the 50-day & 200-day trendlines showcasing a bullish convergence, the trend suggests a rising momentum.

Bitcoin Micro Cycle Risk, Source: Willy Woo/X

Despite dropping to $112,500 from a top of around $124,500, the Micro Cycle Risk (MCR) signal line is easing. This suggests that the investor’s liquidity is returning in the market. If this trend continues, the bitcoin price may record a potential upward price action shortly.

According to on-chain data from glassnode, over 20,000 BTC held for less than 155 days were sold at a loss in the past week, with loss-taking peaking on Tuesday with 23,520 BTC sent to exchanges.

A move out of the channel and a successful retest at $117,500 would confirm the resumed bullish stance and an entry into $120,000 and potentially $124,500.

Considering the Bitcoin chart, the nearest support stands at $112,000. This price point plays an important role as historically the demand has constantly increased at this point.

Also Read: Crypto Market Structure Bill to Hit Trump’s Desk Before Year End

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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August 21, 2025 0 comments

NFT Gaming

Winklevoss Twins Donate $21 Million in Bitcoin to Pro-Trump, Anti-Democrat Crypto PAC

by admin August 21, 2025

In brief

Cameron and Tyler Winklevoss donated over $21 million in Bitcoin to help launch the Digital Freedom Fund, a pro-crypto PAC.
Unlike most crypto PACs, which aim to stay nonpartisan, the twins explicitly said their PAC will work to support Republicans, defeat Democrats, and back Trump’s crypto agenda in the 2026 midterms.
The PAC’s goals include pushing for a lightly regulated crypto market structure bill, blocking a U.S. central bank digital currency (CBDC), and protecting software developers.

Cameron and Tyler Winklevoss announced Wednesday that they have donated over $21 million worth of Bitcoin to a new pro-crypto PAC—one they proudly unveiled will be principally focused on defeating Democrats and supporting Republicans in the 2026 midterms.

“We will identify and support champions of President Trump’s crypto agenda in primary races and the midterm elections,” Tyler Winklevoss said. “If the Republicans lose either the House or Senate in the midterms […] then Democrats will have power to slow down and interfere with President Trump’s agenda.”

The PAC, dubbed the Digital Freedom Fund, will be focused first and foremost on supporting President Donald Trump’s crypto agenda, the brothers said. To kick-start the initiative, they have donated 188.4547 BTC—a sum worth about $21.5 million at writing.

Today, @cameron and I donated $21 million in bitcoin (188.4547 BTC) to the Digital Freedom Fund PAC. The mission of the @FreedomFundPAC is to help realize President Trump’s vision of making America the crypto capital of the world. Since inauguration, @POTUS and his Administration…

— Tyler Winklevoss (@tyler) August 20, 2025

The openly partisan move from the Gemini co-founders is perhaps unsurprising in light of their enthusiastic endorsement of the president’s campaign in mid-2024, months before other industry leaders embraced the polarizing leader.

But most other pro-crypto political spending groups have taken pains to, at the very least, appear nonpartisan.

In 2024, top donors to Fairshake, the $300 million crypto super PAC behemoth, made what they at the time considered to be a difficult choice to endorse certain pro-crypto Democrats over reliably supportive Republican candidates, in the aim of not making crypto a partisan issue.

Even now, as leaders of crypto’s most powerful companies lavish the Trump administration with praise and hobknob with the president’s advisors, they continue to publicly frame their lobbying efforts as decidedly politically agnostic.

The Winklevoss twins, however, are taking a different path into the 2026 midterms.

They do maintain that their new political spending organ will be focused on crypto policy matters, including aiding the passage of a “skinny” crypto market structure bill that imposes few regulations on the sector, banning an American central bank digital currency, or CBDC, and legally enshrining protections for software developers.

But the brothers also explicitly stated Wednesday that they believe they can only achieve said goals by defeating Democrats in the upcoming midterms.

“We know from their past behavior that they will resort to whatever bad faith tactics and tricks they can think of (e.g., bogus impeachments, lawfare, etc.) to try to derail the president,” Tyler Winklevoss said of the Democratic Party, should it regain control of either chamber of Congress next year.

“We want the American Golden Age and we are ready to fight for it,” he continued. “And we don’t just want another year of it, we want three more years of it.”

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August 21, 2025 0 comments

Crypto Trends

Bitcoin STH Capitulate: $5.69B In Losses Hit Exchanges In 48 Hours

by admin August 21, 2025

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

Bitcoin is trading at a critical support level after reaching a new all-time high of $124,500 before swiftly losing the $115K level in less than a week. The sudden reversal underscores the sharp rise in volatility, with bulls and bears locked in a battle for momentum. While some analysts argue that BTC could reclaim its highs in the coming days, others expect the market to cool off further, with consolidation potentially dragging the price into lower ranges.

Key insights from CryptoQuant analyst Maartunn reveal that Bitcoin just faced one of the heaviest loss-driven moves in weeks. Short-term holders (STHs) have been under pressure, with billions in BTC flowing into exchanges at a loss, signaling capitulation among speculative investors. Historically, such moments of intense selling either trigger deeper corrections or set the stage for recovery rallies, depending on how quickly markets absorb the supply.

For now, Bitcoin’s ability to stabilize above the $115K–$113K support zone will likely determine the short-term trajectory. If buyers step in aggressively, a rebound toward $120K+ could materialize. However, failure to defend current levels may leave BTC vulnerable to a deeper retracement before any attempt to retest its all-time highs.

Short-Term Holders Capitulate as Bitcoin Faces Pressure

According to CryptoQuant analyst Maartunn, Bitcoin’s short-term holders (STHs) are showing signs of serious capitulation. Over just two days, a staggering 50,026 BTC — worth approximately $5.69 billion — flowed from STHs to exchanges at a loss. This marks the deepest loss-driven move in more than a month, underscoring how quickly sentiment can shift in an overheated market.

Bitcoin STH P&L to Exchange Sum 24H | Source: Maartunn

STHs selling at a loss is a critical signal. Historically, these moments often align with market stress points where speculative investors exit positions under pressure. Bulls, however, are looking for a different outcome. They want this to represent a sharp flush-out of weak hands, followed by renewed accumulation and a swift price rebound. In this view, the sell-off would simply be a reset — a profit-taking event that clears the path for more sustainable gains.

If that fails to materialize, the risk grows that this episode could mirror the prolonged loss realization seen from late February through late May, when persistent capitulation dragged Bitcoin through an extended consolidation phase.

For now, bulls are defending the $115K region, but many analysts point to $110K as a decisive level. Losing that support could expose BTC to a deeper retracement, while holding it could provide the springboard for a renewed push back toward all-time highs.

BTC Price Analysis: Testing Key Moving Average

The 8-hour Bitcoin chart shows that BTC is under strong selling pressure after failing to hold above the $120K–$123K resistance area. The chart highlights multiple rejections at the $123,217 level, establishing it as a critical ceiling. After the most recent failed breakout attempt, price has sharply retraced, now trading around $113,486.

BTC testing critical demand | Source: BTCUSDT chart on TradingView

On the downside, BTC is testing the 200-period moving average (red line), currently sitting near $113,292. This zone has acted as a key support level in previous consolidations. If the price manages to defend this area, it could form a base for a potential rebound toward the mid-range levels around $117K–$118K. However, failure to hold this moving average would likely open the door for a deeper correction toward the $110K psychological level.

The 50-period (blue) and 100-period (green) moving averages are now above the price, acting as resistance, signaling a short-term bearish bias. Market structure suggests consolidation is underway, with momentum shifting toward bears.

Featured image from Dall-E, chart from TradingView

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August 21, 2025 0 comments

Crypto Trends

Bitcoin Miner Bitdeer Aims to Expand US Rig Manufacturing Amid Trump Tariff Headwinds

by admin August 20, 2025

In brief

Nasdaq-listed Bitdeer posted earnings this week—with slimming profits but increased revenue.
The miner is laser-focused on its expansion.
But it won’t be pivoting to a treasury strategy yet.

Bitcoin mining has faced challenging times as costs rise, rewards fall and the macroeconomic environment grows more uncertain, but Nasdaq-listed Bitdeer (BTDR) told Decrypt that it will focus on expansion in the months ahead.

The firm plans to build rigs and invest in U.S. resources, Bitdeer CFA Jeff LaBerge told Decrypt, even as its profits have slimmed. LaBerge said that U.S. President Donald Trump’s favorable cryptocurrency policies may help the firm even as his trade policies hurt its ability to acquire mining equipment.

“It’s created more things to think about,” LaBerge said of President Trump’s approach, but added that “the policies have been supportive of crypto and energy” on the whole.

“On the tariffs side, we’re confident that we’ll come to a Bitcoin-friendly resolution that will allow companies like ours to grow,” he said.

LaBerge’s comments followed the release of the Singapore-based company’s second quarter earnings reflecting at least some of the same impact faced by miners throughout the industry, even as Bitcoin’s price has jumped.

Bitdeer increased revenue to $155.6 million, beating analysts’ estimates by more than 90% and higher than the $70.1 million for its 2024 first quarter. But it posted a net loss of $147.7 million compared to a net profit of $409.5 million for its first quarter.

Bitdeer’s (BTDR) stock closed down by 0.3% on Wednesday to trade at $12.87. BTDR shares are off more than 43% year-to-date.

Bitdeer’s now hoping manufacturing mining rigs—due to start this year for U.S. customers—will help the firm, along with its self-mining business. Many of its competitors are similarly planning to shift production to the U.S.

In a statement, Matt Kong, chief business officer at Bitdeer, said he expected the firm’s financial results would “improve sequentially.”

Bitcoin was recently trading at $114,581, up 1.2% over the past 24 hours, but well off its most recently high of $124,128, set earlier this month.

Miners, which are typically large industrial operations of specialized computers processing transactions and minting new coins for the cryptocurrency’s network, have faced increasing headwinds over the past year. Bitcoin network difficulty now stands at a record high of 129 trillion. That’s a 6.4% increase over the past 90 days, according to mining data provider CoinWarz.

Meanwhile, transaction fees have slipped below 1% of block rewards for the first time ever. The revenue earned by miners comes from the static block reward, which is currently 3.125 BTC per block mined, and transaction fees paid by users. Before last year’s halving the payoff for miners stood at 6.25 Bitcoin.

Amid these trends, a number of miners have moved resources to capture surging interest in artificial intelligence technology or refocused entirely to become cryptocurrency treasuries. BitMine Immersion now holds about $6.6 billion in Ethereum, while Bit Digital’s treasury totals more than $520 million.

Bitdeer said that it did not have plans to reposition itself, even as its own Bitcoin holdings have grown.

“We’re more practical than idealistic about holding Bitcoin on our balance sheet—it’s not part of our identity, we’re not looking to be seen as a Bitcoin treasury necessarily,” LaBerge said.

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August 20, 2025 0 comments

GameFi Guides

Bitcoin (BTC) Price Could Reach $1M by 2030, Coinbase (COIN) CEO Brian Armstrong Says

by admin August 20, 2025

Coinbase CEO Brian Armstrong said that bitcoin

could hit $1 million per token by the end of the decade, adding his voice to a growing chorus of high-profile crypto advocates calling for explosive growth.

“I think we’ll see $1 million per bitcoin by 2030,” Armstrong said in a post on X this week while promoting his appearance on the Cheeky Pint podcast. The prediction is notable because Armstrong rarely offers public price targets.

He isn’t alone in expecting such a surge. Jack Dorsey, who ran X (formerly Twitter) until 2021 and co-founded payments firm Block (formerly Square), has also said bitcoin could reach $1 million by 2030 and likely move higher beyond that milestone.

Meanwhile, Cathie Wood’s Ark Invest revised its long-term outlook last month, raising its decade-end projection to as high as $3.8 million, citing increased institutional adoption as the main driver.

The optimism comes at a time when bitcoin has been setting records. The token is trading at $114,383, up 22% this year, after touching a new all-time high above $124,000 last week. The rally has strengthened arguments that bitcoin is consolidating its role as a hedge against inflation and an alternative to traditional safe-haven assets like gold.

Some investors see major moves happening sooner. Anthony Scaramucci, founder of SkyBridge Capital, said on CNBC on Aug. 19 that bitcoin could climb to between $180,000 and $200,000 within the next five months, adding that even that outlook may prove conservative.

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August 20, 2025 0 comments

Crypto Trends

Bitcoin (BTC) Price Prediction for August 20

by admin August 20, 2025

The market is neither bearish nor bullish in the middle of the week, according to CoinStats.

Top coins by CoinStats

BTC/USD

The price of Bitcoin (BTC) has risen by 0.38% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of BTC is looking bullish after a resistance breakout. If the daily bar closes above $114,157, growth may continue to the $115,000 mark tomorrow.

Image by TradingView

On the longer time frame, the price of the main crypto is rising after yesterday’s bearish bar’s closure. However, even if the candle closes bullish, the energy might not be enough for a further upward move.

Rare Death Cross Threatens to Send Bitcoin Price Straight to $100,000

by admin August 20, 2025

Bitcoin just lined up one of the ugliest signals you can get on a price chart — a death cross. The 23-day moving average (green) is bending down into the 50-day (blue), and the two are about to collide.

If that cross confirms, it usually means buyers lost the wheel, and the price gets dragged lower until it hits the next major anchor.

Main risk

The danger here is not just another dip; it is the market gravitating toward the 200-day, the one line that always pulls the price back when shorter averages roll over. A move down to $100,000 would not be some freak event but simply the math of the chart doing its job.

That level also wipes out almost the entire summer run, putting the whole bull narrative under heavy scrutiny.

Nasdaq-Listed SoFi Taps Bitcoin Lightning for Remittances

by admin August 20, 2025

Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. We’re Margaux Nijkerk & Jamie Crawley, reporters at CoinDesk.

In this issue:

Nasdaq-Listed SoFi Taps Bitcoin Lightning for Remittances
Bitcoin DeFi Project Enters Solana with BTC-Backed Token YBTC
Valantis Acquires stHYPE, Expanding Liquid Staking Reach on Hyperliquid
Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital

Network News

SOFI TAPS BITCOIN LIGHTNING FOR REMITTANCES: SoFi Technologies will soon allow remittance payments on top of the Bitcoin layer-2 Lightning Network through a partnership with Lightspark, aiming to bring real-time international money transfers to its members. SoFi’s remittance product, which is expected to roll out later this year, will allow users to send U.S. dollars through the SoFi app, with recipients receiving local currency deposits abroad, using Lightspark’s Universal Money Address (UMA). Lightspark’s UMA provides access to a global payment rail designed for speed and scale. Transfers will display upfront exchange rates and fees, addressing longstanding pain points in traditional remittance services. The launch follows SoFi’s reentry into crypto, after halting services in 2023 during its transition to a national bank. Earlier this year, it revealed plans to offer international remittances through blockchain and stablecoins and allow users to invest in crypto. — Jamie Crawley Read more.

BITLAYER ENTERS SOLANA WITH YBTC: Bitcoin DeFi project Bitlayer has partnered with Kamino Finance and Orca to bring its bitcoin-backed token, YBTC, to the Solana ecosystem. This integration is intended to combine Bitlayer’s security with Solana’s speed and scalability, aligning with Bitlayer’s goal of expanding the Bitcoin DeFi sector. It will provide bitcoin holders with native BTC exposure and yield opportunities, said Charlie Hu, co-founder of Bitlayer. YBTC, pegged 1:1 with BTC, is central to Bitlayer’s BitVM bridge, which is designed for trust-minimized bitcoin transfers by eliminating centralized intermediaries. The token serves as a direct representation of users’ locked BTC within the Bitlayer ecosystem, enabling seamless interoperability between Bitcoin and decentralized finance applications. By holding YBTC, Solana users can maximize yields through Kamino’s institutional-grade earn vaults, which provide auto-compounding and optimized BTC-denominated returns, helping assets grow effortlessly. — Omkar Godbole Read more.

VALANTIS ACQUIRES stHYPE: Valantis, a decentralized exchange (DEX) protocol, has acquired Staked Hype (stHYPE), the second-largest liquid staking token (LST) on Hyperliquid. Financial terms of the deal were not disclosed. stHYPE, which launched as the first LST on HyperEVM, currently holds about $180 million in total value locked (TVL), according to the stHYPE website. Following the deal, stHYPE’s operations, development, and scaling will be managed by Valantis Labs. Addison Spiegel, founder of Thunderhead, the team behind stHYPE, will serve as an advisor to Valantis. Liquid staking has become a central pillar within Hyperliquid’s ecosystem. According to DeFiLlama, liquid staking accounts for more than half of Hyperliquid L1’s $2.26 billion in DeFi TVL. The acquisition builds on Valantis’ earlier launch of LST-specific DEX pools for both stHYPE and hHYPE, which together have attracted nearly $70 million in TVL and processed more than $500 million in trading volume. — Oliver Knight Read more.

HYPERBEAT GETS $5.2M IN SEED: Hyperbeat, a protocol powering yield infrastructure on the Hyperliquid decentralized exchange, has closed a $5.2 million oversubscribed seed round co-led by ether.fi Ventures and Electric Capital. The raise will be used to build out their yield infrastructure for traders, protocols, and institutions that are tapped into the Hyperliquid ecosystem. The round also drew investments from Coinbase Ventures, Chapter One, Selini, Maelstrom, Anchorage Digital, and community backers via the HyperCollective. Hyperbeat serves as the native yield layer for Hyperliquid, building permissionless financial infrastructure that allows anyone to earn, stake, and spend directly from their on-chain portfolio. It unlocks yield generated by Hyperliquid’s funding rates—previously accessible only to sophisticated market participants—and packages it into simple, tokenized vaults. The news of the seed raise comes as Hyperliquid’s total value locked surpasses $2.1 billion, and as institutions are starting to develop greater interest in its ecosystem. — Margaux Nijkerk Read more.

In Other News

SkyBridge Capital, Anthony Scaramucci’s investment management firm, plans to tokenize $300 million worth of its hedge funds on the Avalanche network. The firm is bringing its Digital Macro Master Fund and Legion Strategies on-chain in partnership with tokenization provider Tokeny and its parent, Apex Group, which manages more than $3.5 trillion in assets, according to the press release shared with CoinDesk. Apex acquired Tokeny earlier this year. The initiative uses the ERC-3643 token standard with operational support from Apex’s Digital 3.0 platform, which handles issuance, administration, and distribution. — Kristzian Sandor Read more.
Thumzup Media, which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto mining. Under the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares’ closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year. The company says it will also use Dogecoin’s DogeOS layer 2 to stake in DeFi products, aiming to boost miner returns beyond standard rewards. — Sam Reynolds Read more.

Regulatory and Policy

The crypto industry is mounting a counteroffensive against Wall Street bankers’ bid to rewrite the U.S.’ new stablecoin law, arguing that attempts to roll back core provisions of the GENIUS Act would tilt the field toward traditional banks. In a letter to Senate Banking Committee leaders dated Aug. 19, the Crypto Council for Innovation and the Blockchain Association urged lawmakers to reject proposals from the American Bankers Association, Bank Policy Institute and state banking groups that called for stripping out Section 16(d) of the law and banning yield programs offered by affiliates of stablecoin issuers. Section 16(d) allows subsidiaries of state-chartered institutions to conduct money transmission across state lines in support of stablecoin issuer activities, ensuring holders can redeem their tokens nationwide without needing separate state licenses. Banking groups warned earlier this month that allowing state-chartered, uninsured institutions to issue stablecoins and operate nationwide would amount to regulatory arbitrage, bypassing state licensing regimes. — Sam Reynolds Read More
The U.S. Federal Reserve’s newest vice chair who supervises Wall Street banking, Michelle Bowman, made a crypto speech on Tuesday that could have been uttered by one of the industry’s own policy wonks, advocating that banks get behind the digital assets surge and that the Fed give the sector rules that won’t get in crypto’s way. At the Wyoming Blockchain Symposium, Bowman warned banks that don’t embrace the shift toward crypto “will play a diminished role in the financial system more broadly,” and she further underlined what’s already been an obvious change in crypto sentiment from U.S. banking regulators. “Your industry has already experienced significant frictions with bank regulators applying unclear standards, conflicting guidance, and inconsistent regulatory interpretations,” she said. “We need a clear, strategic regulatory framework that will facilitate the adoption of new technology, recognizing that in some cases, it may be inadequate and inappropriate to apply existing regulatory guidance to address emerging tech.” — Jesse Hamilton Read more.

Calendar

Sept. 22-28: Korea Blockchain Week, Seoul
Oct. 1-2: Token2049, Singapore
Oct. 13-15: Digital Asset Summit, London
Oct. 16-17: European Blockchain Convention, Barcelona
Nov. 17-22: Devconnect, Buenos Aires
Dec. 11-13: Solana Breakpoint, Abu Dhabi
Feb. 10-12, 2026: Consensus, Hong Kong
May 5-7, 2026: Consensus, Miami

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August 20, 2025 0 comments

Crypto Trends

Bitcoin ETFs Shed $645M This Week as Wall Street Retreats Ahead of Powell Speech

by admin August 20, 2025

In brief

Bitcoin ETFs recorded $645 million in outflows across two days, with Fidelity’s FBTC leading redemptions Tuesday at $246.9 million.
Analysts attributed the outflows to investors de-risking ahead of Fed Chair Powell’s Jackson Hole speech.
The selloff reverses a $4.7 billion inflow streak from mid-July to early August, though analysts characterize the movement as tactical positioning rather than institutional capitulation.

Bitcoin exchange-traded funds bled $645 million over two trading sessions as institutional investors pulled capital from crypto markets, a major reversal since the digital asset’s summer rally began stalling.

Bitcoin ETFs saw $121.7 million in outflows on Monday and $523.3 million on Tuesday according to Farside Investors data, while Ethereum funds mirrored the weakness with $196.6 million and $422.2 million withdrawn on the same days.

Fidelity’s FBTC led the exodus with $246.9 million in redemptions, while Grayscale’s GBTC shed $115.5 million and Bitwise’s BITB lost $86.8 million across the two-day period.

Investors derisking ahead of Powell speech

Illia Otychenko, lead analyst at CEX.IO, told Decrypt that spot Bitcoin ETFs are seeing outflows as investors “scale back risk ahead of the Jackson Hole meeting and Jerome Powell’s speech on Friday.”

The latest withdrawals break momentum from mid-July through early August, when Bitcoin ETFs saw $4.7 billion in inflows at roughly $135 million a day.

Otychenko attributed the selling to weak job growth combined with mixed inflation data that “left the Fed in a difficult spot, leaving the markets more uncertain about the path of future rate cuts.”

Net Taker Volume, which tracks whether buyers or sellers dominate exchange activity, plummeted to its “lowest point since December 2021,” indicating widespread selling pressure, he said.

The analyst noted that Bitcoin’s rallies since March have followed a weakening pattern, with “each breakout weaker, with smaller price moves and lighter trading volume.”

Dean Chen, analyst at Bitunix, shared similar sentiment, telling Decrypt the outflows stem from two main drivers: macro de-risking as “U.S. PPI came in hotter than expected” and issuer-level profit taking ahead of Powell’s Jackson Hole speech.

He noted that BlackRock’s IBIT recorded zero flow, which “tells us this is more tactical de-risking than broad institutional exit.”

Konstantin Anissimov, global CEO of Currency.com, also remarked to Decrypt the outflows represent “a broad de-risking move rather than a problem with any single ETF.”

He pointed out that redemptions shifted from BlackRock and ARK on Monday to Fidelity, Grayscale, and Bitwise the following day, showing “investors across the board are taking some chips off the table.”

Despite the substantial ETF outflows, Bitcoin’s price is down just 1.5% on the day according to CoinGecko data, which Anissimov attributed to buyers using “$32 billion in stablecoin cash sitting on exchanges” to absorb the selling.

He characterized institutional sentiment as “cautious right now, but not panicked,” calling the movement “short-term profit-taking” rather than a fundamental shift.

Markets now enter a critical waiting period as Powell’s address approaches, with institutional flows likely to remain volatile until monetary policy clarity emerges.

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August 20, 2025 0 comments