Bitcoin is trying to start a recovery from $112,000, but bears may pose a substantial challenge at $117,000 and then at $120,000.
The digital exchange operator and media company is eyeing an initial public offering of between $28 and $31 per share, regulatory filings show.
Bitcoin is trading just above the $112,000 level after breaking down from a consolidation range that held for over two weeks. The sharp decline sparked concerns among investors, particularly among Short-Term Holders (STH), who now face the difficult choice of realizing losses or holding underwater positions. However, top analyst Darkfost shared key insights suggesting that Bitcoin’s underlying demand remains robust, despite the price volatility. Related Reading: Bitcoin Inflows To Binance Accelerate: Investor Behavior Shifts After Months Of Decline According to Darkfost, the Apparent Demand metric—comparing new BTC issuance to over one-year inactive supply—indicates that the market is still absorbing supply effectively. The ratio has stayed in positive territory, signaling that demand continues to outpace new issuance. Over the past 30 days, approximately 160,000 BTC have been accumulated, highlighting strong buying behavior even as prices corrected. While sentiment among STH has weakened due to the recent drawdown, long-term accumulation trends suggest the broader market structure remains healthy. Investors with longer time horizons are continuing to add to their positions, reflecting confidence in Bitcoin’s long-term prospects. As BTC stabilizes around $112K, market participants are closely watching for a potential reversal or a deeper correction, with demand-side indicators offering a more optimistic outlook for the weeks ahead. Demand from Accumulator Addresses and OTC Desks Signals Strong Conviction Darkfost also highlighted critical insights regarding Demand from Accumulator Addresses, a metric that tracks wallets that have only acquired Bitcoin without any history of selling. This indicator provides a clear view into both the demand dynamics and the holding conviction of long-term investors. Over the past month, the average BTC accumulated by these addresses has grown by approximately 50,000 BTC, showcasing a consistent and determined buying trend, despite recent price corrections. Such behavior underscores the confidence of long-term holders who are taking advantage of market dips to strengthen their positions. On a broader horizon, BTC held on OTC Desks reflects a more strategic and long-term demand pattern. Unlike exchange-based activity, OTC transactions are less visible in immediate price action but offer a window into the intentions of institutional players. Since September 2021, the supply of BTC on OTC desks has dropped sharply, from around 550,000 BTC to just 145,000 BTC today. This significant decline indicates that large-scale buyers are consistently removing Bitcoin from OTC circulation, reducing the available supply for future institutional entrants. Whether examining short-term accumulation or long-term OTC trends, the overall demand-side picture remains notably positive. Despite recent volatility and a wave of short-term profit-taking, there are no major signs of structural weakness from demand-side indicators. Related Reading: Exchanges Receive 21,400 Bitcoin At A Loss From Short-Term Holders – Retail Capitulation? Bitcoin Faces Key Resistance After Rebounding from Local Lows Bitcoin is currently trading at $114,476, showing signs of stabilization after a sharp drop to $111,971 earlier this week. The chart shows BTC still hovering below the crucial $115,724 resistance, which aligns with the lower boundary of the previous consolidation range. The 50-day SMA sits at $100,228, providing a solid technical base, while the 100-day SMA at $95,433 remains a key medium-term support zone. The 200-day SMA is rising steadily at $77,282, confirming the long-term bullish trend. Despite the recent volatility, Bitcoin’s price structure still suggests a bullish outlook as long as BTC maintains higher lows above the $110K level. However, the $122,077 resistance remains a critical barrier. Breaking above this level would signal a strong bullish continuation towards new highs. Related Reading: Over 1-M Ethereum Withdrawn From Exchanges In 2 Weeks: Supply Shock Incoming? Volume activity has been decreasing during this retracement, which is a positive sign, indicating that selling pressure is not overwhelming. If BTC can reclaim the $115,724 zone in the coming sessions, it would increase the probability of another breakout attempt towards $122K. Featured image from Dall-E, chart from TradingView
Ethereum faces weak institutional demand and lacks catalysts, keeping ETH price tied to broader altcoin trends and economic uncertainty.
A revolutionary shift could be coming to the U.S. financial system that will transform Wall Street forever. Under the leadership of Paul Atkins, the SEC has launched “Project Crypto,” a bold plan that could completely change how the U.S. handles crypto, stocks, and finance in the digital age. Therefore, analysts at Bernstein say this project …
A cybersecurity expert warns that quantum computing could silently break Bitcoin, stockpiling encrypted data today to crack it in the future.
France's National Rally's shift to Bitcoin could signal a broader acceptance of crypto in politics, impacting energy policy and economic strategies.
The post France’s far-right National Rally unexpectedly warms to Bitcoin after years of opposition appeared first on Crypto Briefing.
Crypto analyst Egrag Crypto has advised XRP investors not to panic as they make their next move in the market. This came as he revealed levels to watch out for as the altcoin retraces alongside the broader crypto market. Analyst Advises XRP Investors Amid Market Correction In an X post, Egrag Crypto told XRP investors, especially the newbies, that they should not let fear dictate their next moves. The analyst also commented on the current price action, stating that investors will see where the market settles by the end of the day. In line with this, he revealed levels that investors should keep an eye on. Related Reading: Bitcoin Maxi Blasts XRP Investors With ‘Retarded’ Tag Amid Price Drop The crypto analyst stated that if the XRP price maintains closures above $2.80, then it is still in a super bullish position. Furthermore, he claimed that a close near $2.65 keeps the altcoin within a strong structural formation. Meanwhile, Egrag Crypto also raised the possibility of a wick down to $2.34, which would represent a 30% retracement. Whatever happens, the analyst is still confident that the altcoin will rally to higher prices at some point. As such, he advised XRP investors to stay steady and strong, stating that they should soon fly, indicating another parabolic rally was on the horizon. However, in the short term, a steeper price correction might occur, according to crypto analyst Ali Martinez. In an X post, the analyst said that the Market Value to Realized Value (MVRV) ratio flashed a death cross for XRP, suggesting that a steeper correction could be underway. His accompanying chart showed that the altcoin could drop to the psychological $2 price level on this decline. In another X post, Ali Martinez said that the on-chain data shows that past accumulation behavior points to $2.80 being a temporary buffer for XRP. Meanwhile, the real support begins below $2.48. Long-Term Update For The Altcoin In an X post, Egrag Crypto provided an update on his analysis of XRP’s 6-month chart. He noted that the altcoin has just less than five months left until this candle closes. Based on this, he questioned whether it can still make history by breaking the chasm of whether the top might already be in. Related Reading: Analyst Predicts Historical 90% XRP Crash Against Bitcoin, But This Will Happen First However, the analyst believes that the market top isn’t in and that the last leg for the XRP price is still imminent, something he claimed would be “epic.” Egrag Crypto stated that the Non-Log Scale measured move puts the altcoin at a market top of around $4.89. On the other hand, the Log Scale measured move shows a market top of $48.90. The analyst noted that he is adopting an average approach between the two targets. As such, he sees XRP reaching at least $27. At the time of writing, the XRP price is trading at around $2.97, up almost 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
DeFi promised to rebuild the financial system from the ground up. Moving from early experiments to everyday utility demands an upgrade.
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Cosmos’ ATOM token posted a strong performance over the past 24 hours, defying broader market uncertainty with decisive upward momentum.
A Power of 3 pattern suggests a $126,000 target for Bitcoin after a leverage reset, but BTC price must first flip its immediate resistance level into new support.
No public company in the United States merely holds gold as its corporate purpose, but a firm listing itself around its TON holdings is entirely viable (and in the works). While gold ETFs have existed for years, the Strategy-style (formerly MicroStrategy) treasury play isn’t viable for gold. As token-backed narratives gain traction, a new class […]
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President Trump is moving quickly to replace two key economic positions, backing a pro-rate-cut agenda. With the chances of a September rate cut nearing 80%, markets are reacting—crypto has surged, adding to the growing momentum. Trump Eyes Fed, BLS Shake-Up After Sudden Exits Two major vacancies opened Friday, one at the Federal Reserve after Governor …
A blockchain security firm said that the attacker gained special privileges to the DeFi protocol six days ago.
A sophisticated supply chain attack on Seychelles-based crypto exchange BigONE led to a $27 million theft from hot wallets, without exposing private keys.
Compass Point warns of choppy trading, rising competition, and skepticism around stock trading and crypto regulation reforms in 2025.
Bitcoin is walking a fine line again. After sliding for six straight trading sessions, the world’s largest cryptocurrency bounced back from a key support level around $114,432. That small rebound is catching attention, but it’s not enough to suggest a strong rally is around the corner. Related Reading: Spot Bitcoin ETFs Bleed Over $800 Million: Second‑Largest Exit Ever – Details Labor Data Fuels Fed Speculation Recent economic data in the US isn’t helping much. Reports showed that job growth came in weaker than expected, with the unemployment rate rising to 4.2%. Average hourly wages only went up by 0.3%, pointing to a cooling labor market. These numbers are adding weight to the idea that the Federal Reserve might soon hit pause on interest rate hikes—or even lower them. That possibility matters a lot for assets like Bitcoin, which tend to do better when borrowing is cheaper and liquidity is high. A shift in central bank policy could push more institutional investors back into the market. But for now, the mood is cautious. While some investors are quietly adding to their positions, many are waiting to see what the central bank does next. ETF Inflows Show Mixed Signals Bitcoin ETFs in the US saw strong demand in June and July. Based on figures from MarketWatch, total inflows into spot Bitcoin ETFs crossed the $50 billion mark by mid-July. That’s a big milestone. It shows that Bitcoin is no longer just a niche interest—it’s part of how big institutions think about their portfolios. Meanwhile, global tension continues to push some investors toward Bitcoin. Rising unrest in the Middle East, the ongoing war between Russia and Ukraine, and China’s tightening grip on trade and key supplies are all reasons why people are looking for assets that sit outside government control. Bitcoin, while not as trusted as gold just yet, is increasingly seen as a backup plan. Related Reading: Slow And Steady: Bitcoin’s Current Rise Feels Different—Study Bitcoin’s Support Still Holds Above $100K Despite the shaky short-term action, Bitcoin still looks stronger under the hood. On-chain data shows that more holders are staying in for the long haul. At the same time, there’s less borrowing for risky trades. These trends suggest the market is shifting away from hype and moving toward value-based buying. As long as Bitcoin stays above $100,000, analysts believe the larger trend is still intact. Pullbacks, like the one this month, could just be part of a bigger pattern. If the Fed makes a dovish move later this year, a fresh wave of capital could come in by the fourth quarter. Featured image from Meta, chart from TradingView
Nexus Mutual has paid about $250,000 in claims to users hit by July’s $3.5 million Arcadia Finance hack on Base.
Aave DAO has repurchased 70,000 AAVE tokens, or 0.5% of its total supply, in less than six months of its token buyback initiative. In an Aug. 4 post on X, DeFi analysis platform Token Logic stated that the platform acquired these tokens for $15.7 million at an average purchase price of $223.33 per token. The […]
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BitMine, Verb, and Sequans expand digital asset strategies with major crypto acquisitions, pushing stocks higher.
Tesla has just awarded CEO Elon Musk a massive $29 billion in stock, according to Reuters. This is to keep him leading the company as it shifts focus from its slowing car business to AI and robotics. This comes at a critical time as Tesla’s core electric vehicle business is losing steam. To stay ahead, …
Bullish's IPO strategy highlights the growing integration of stablecoins in traditional finance, potentially influencing future regulatory frameworks.
The post Peter Thiel-backed exchange Bullish targets $4.2 billion valuation, plans to convert IPO proceeds into stablecoins appeared first on Crypto Briefing.
French political party Rassemblement National is reportedly preparing a draft law to mine Bitcoin with surplus nuclear energy.
Bitcoin is currently trading at critical levels after a sharp decline to the $112,000 zone, sparking panic among investors who fear this could mark the beginning of a broader bear market. After weeks of tight consolidation, the sudden drop has triggered concerns of a deeper correction, especially as short-term holders (STH) are forced to either realize losses or hold underwater positions. Related Reading: Bitcoin Inflows To Binance Accelerate: Investor Behavior Shifts After Months Of Decline However, not all analysts are sounding the alarm. Top analyst Axel Adler argues that while the market is experiencing typical late-stage bull cycle behavior, the broader uptrend remains intact. Adler points out that as bull markets mature, investor risk appetite naturally decreases, leading to increased profit-taking and short-term selling pressure. This creates temporary headwinds but doesn’t necessarily signal a trend reversal. Long-term holders (LTH) remain in solid profit territory, showing no signs of capitulation. Their conviction continues to provide foundational support for Bitcoin’s price structure. This is a normal phase in bull markets, where short-term volatility shakes out weaker hands before continuation. Bitcoin Harmonic Mean of NUPL and MVRV Signals Cycle Maturity According to Adler, the Bitcoin Harmonic Mean of NUPL (Net Unrealized Profit/Loss) and MVRV (Market Value to Realized Value) reveals a clear shift in investor behavior as the bull cycle matures. Adler’s data shows that in March and December 2024, this combined metric peaked above 1.9, marking periods of strong market conviction where investors continued holding despite elevated profit margins. However, the current readings show a noticeable decline, with the harmonic mean forming a lower peak, signaling that holders are becoming more inclined to realize profits rather than hold through new price surges. Adler points out that each rally now brings a smaller marginal premium to holders’ cost basis, which translates into increasing selling pressure as the market struggles to sustain higher valuations. This does not mean the bull market is over, but it does indicate that investor risk appetite is diminishing. Profit-taking activity is gradually outweighing the influx of new demand, which could cap future rallies. Nevertheless, Adler expects two more significant rallies in this cycle, driven by macro catalysts such as the anticipated two Federal Reserve rate cuts later this year. These events could reignite market momentum and push Bitcoin to new highs. However, Adler warns that after these final pushes, selling pressure from long-term holders may outweigh fresh demand, leading the market into a broader correction phase. Related Reading: Exchanges Receive 21,400 Bitcoin At A Loss From Short-Term Holders – Retail Capitulation? Price Analysis: Testing Resistance After Breakdown Bitcoin (BTC) is currently trading at $114,690, attempting to recover after a sharp breakdown below the $115,724 support, now acting as resistance. The daily chart shows BTC forming a modest rebound after reaching a local low of $112,200, with price action consolidating around the 50-day Simple Moving Average (SMA) at $112,218. This moving average provided strong support during the recent correction, preventing a deeper decline towards the $110K zone. The next critical level to watch is the $115,724 resistance. A daily close above this level would signal a potential reclaim of the previous range, increasing the probability of a retest of the $122,077 local high. However, if BTC fails to break this level convincingly, it could indicate that bears are still in control, leading to a possible retest of the 50-day SMA support. Related Reading: Over 1-M Ethereum Withdrawn From Exchanges In 2 Weeks: Supply Shock Incoming? Volume remains subdued compared to previous rallies, suggesting a lack of strong buying momentum. The 100-day SMA at $107,926 and the 200-day SMA at $99,345 remain key dynamic support levels should further downside pressure emerge. Featured image from Dall-E, chart from TradingView
The company plans to sell 20.3 million ordinary shares at $28-$31 per share.
PulseChain, the Ethereum-compatible powerhouse, is rapidly solidifying its position in the DeFi space with a mature and expanding ecosystem. Developers and users are increasingly leveraging its low fees, rapid transactions, and seamless Ethereum compatibility. Core components like PLS, pDAI, and the PulseX DEX are not just concepts, but active pillars shaping PulseChain’s distinct value proposition. …
Bitcoin futures began August with a significant recalibration in positioning. In the first four days of the month, aggregate futures open interest (OI) fell from $83.63 billion to $79 .85 billion, a $3.78 billion drop in notional terms. This followed Bitcoin’s price dropping around 2.8%, indicating that most of the decline stemmed from position closures […]
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Hyperliquid’s rapid response may boost confidence in decentralized trading platforms, which are gaining market share on centralized exchanges.
An interview with Blue, the pseudonymous founder of Oh Whale, on blending DeFi with marine conservation, staying anonymous for safety, and building real value beyond hype. In a space known for anonymity and volatility, few projects dare to build trust without exposing their identities. Fewer still combine tokenomics with tangible, real-world impact. Oh Whale does …