Bitcoin (BTC) is experiencing a period of stability after its recent upward climb, currently trading around $118,502, marking a slight daily decline of about 0.3%. Despite approaching the notable resistance level at $120,000, the leading cryptocurrency has shown little indication of breaking through decisively. This quiet trading environment has drawn the attention of analysts, prompting a detailed examination of the current market sentiment and investor behavior patterns. A recent report by Arab Chain, an analyst at CryptoQuant, suggests there is waning interest among US investors at Bitcoin’s current price level. Related Reading: Bitcoin Remains Flat—And The SSR Ratio Might Explain Why Declining Demand from US Investors Utilizing the Coinbase Premium Index, a measure that compares Bitcoin’s price on Coinbase against other exchanges, Arab Chain highlights a clear downward trend in demand from American investors as prices have risen above the $105,000 mark. Arab Chain notes that although the Coinbase Premium Index remains slightly positive, indicating a minimal premium on Bitcoin in US markets, the significant reduction in this premium suggests declining enthusiasm at current price levels. Historically, strong buying interest from US investors has typically occurred when Bitcoin was priced under $105,000, suggesting that current valuations may be too elevated for many investors seeking favorable entry points. The analyst specifically noted: The index shows a significant decline in U.S. investor demand for Bitcoin. However, it remains in positive territory, indicating U.S. investors are not as active in purchasing Bitcoin at current prices compared to when it traded below $105,000. The trend suggests many potential buyers might be holding off, anticipating better opportunities should prices dip again. Bitcoin Long-Term Holders Begin Profit-Taking Adding further context, another CryptoQuant analyst, Burak Kesmeci, identified emerging patterns among long-term Bitcoin holders at the key psychological resistance level of $120,000. According to Kesmeci, long-term holders have recently transitioned into net-negative territory, signaling initial phases of profit-taking. Such moves typically indicate that veteran investors, many of whom may have held Bitcoin through previous market cycles, are beginning to liquidate portions of their holdings to capitalize on recent gains. Related Reading: Bitcoin Price Surges 28% as Metaplanet Adds $93M BTC — Analysts Eye $111K as Strategic Buy Zone Kesmeci highlighted the importance of monitoring this activity closely, pointing specifically to institutional involvement: One significant case to note is Galaxy Digital, reported to have sold approximately 80,000 BTC. Such sizeable institutional activity indicates this is more than typical retail profit-taking. This development raises questions regarding future market behavior, whether the current sell-off by larger holders represents strategic repositioning or signals broader market concerns. Featured image created with DALL-E, Chart from TradingView
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Bitcoin needs to regain momentum with higher trading volumes for BTC to clear the next big hurdle at $120,000 and reenter price discovery.
Bitcoin trades at a critical level, holding steady above $118,000 but failing to gain momentum for a breakout. Price action has continued to tighten over the past several days, and analysts now anticipate a major move once either key supply zones are absorbed or demand breaks below. The market sits on edge, waiting for confirmation of the next trend. Related Reading: Bitcoin Demand Builds at $117K: Cost Basis Distribution Defines Key Support Level Fresh data from CryptoQuant highlights a notable shift in long-term holder (LTH) behavior. At $118K, LTH supply began to decline, signaling the start of a distribution phase. These holders, known for accumulating during downtrends and selling into strength, are now gradually offloading their positions. This transition often marks the later stages of a bullish trend and echoes patterns from previous macro cycles. As Bitcoin struggles to break past resistance and LTHs reduce exposure, pressure continues to build. A clean breakout above the current range could reignite momentum and drive BTC to new highs, while a break below support may trigger a sharper correction. Either way, the current standoff won’t last much longer. The coming days could bring the decisive move that sets the tone for Bitcoin’s next major leg. LTH Distribution Begins As Bitcoin Mirrors Fall 2024 Pattern Top analyst Axel Adler has highlighted a key development in Bitcoin’s current structure. According to Adler, LTH supply has declined by 52,000 BTC so far, marking a significant shift in behavior. These holders, typically seen as the market’s most patient participants, are now beginning to reduce their exposure—just as Bitcoin remains locked in a tight consolidation range. This shift from accumulation to distribution closely mirrors the LTH behavior seen during fall 2024, when Bitcoin climbed from $65,000 to $100,000. In that period, long-term investors steadily sold into strength as the market pushed higher, locking in profits as late-stage momentum kicked in. Adler suggests that if the current trend continues, the distribution phase will intensify with each price leg up—just as it did in previous macro cycles. The timing of this transition is critical. Bitcoin continues to hover just below all-time highs, while altcoins have begun to show signs of increased volatility. As Ethereum and other major assets begin to move more aggressively, capital rotation may accelerate. Whether this benefits or pressures Bitcoin remains to be seen. Related Reading: TRON Sees $1B USDT Mint: Liquidity Wave Incoming? BTC Holds Steady As Tight Range Continues Bitcoin remains in a tight consolidation range between $115,724 and $122,077, with the 4-hour chart showing price currently hovering around $118,817. After bouncing from the lower boundary last week, BTC has managed to recover and now trades above the 50 SMA ($118,175), 100 SMA ($118,228), and well above the 200 SMA ($113,777). These moving averages have flattened, reflecting the ongoing equilibrium between buyers and sellers. Despite several tests of the $118K zone, BTC continues to respect the key support levels, showing resilience as selling pressure remains muted. Volume, however, remains low—suggesting that traders are still in wait-and-see mode, looking for a decisive breakout before committing to larger positions. Related Reading: Ethereum CME Futures Open Interest Hits Record $7.85B – Is ETH Overheating? The upper resistance at $122K remains untouched since mid-July, and each approach has been met with rejection. A clean break above this level with volume confirmation would signal a continuation of the broader uptrend and could trigger a move toward new all-time highs. On the downside, a break below $115K would invalidate the current structure and likely lead to increased volatility. Featured image from Dall-E, chart from TradingView
SharpLink has generated approximately $3 million in rewards from staking its 438,190 Ethereum holdings, according to a company update released on July 29. According to the firm, it has leveraged staking rewards and equity issuance to expand its ETH treasury during the past week. To date, the company has earned 722 ETH, worth around $2.7 […]
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Bitcoin investment firm Twenty One Capital is set to receive 5,800 BTC from stablecoin issuer Tether as it prepares for its upcoming public listing, according to a July 29 statement. This inflow would bring the firm’s total Bitcoin holdings to over 43,500 BTC, making it the third-largest corporate holder globally. It would rank just behind […]
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Binance and WazirX face scrutiny as India investigates cross-border wallet flows and security risks. Globally, investigative agencies have been acting against illicit crypto funding.
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The post Algeria bans all crypto activity; violators face up to one year in jail and $7,700 fines appeared first on Crypto Briefing.
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Solana co-founder Anatoly Yakovenko is facing backlash from the crypto community over his comments about meme coins and non-fungible tokens (NFTs). Yakovenko made these remarks against these tokens despite his network being home to most of the top meme coins by market capitalization. Crypto Community Reacts To Solana Founder’s Comments The crypto community criticized Anatoly Yakovenko following his X post, in which he described meme coins and NFTs as “digital slop” and ones that have no intrinsic value. The Solana founder added that, like a mobile game loot box, people spend $150 billion a year on mobile gaming, in reference to his ideology about meme coins and NFTs. Related Reading: These Two Bearish Scenarios Put Solana Price At $162 After Fakeout Crypto marketer Anastasiia Bobeshko described the Solana founder’s comments as being funny, considering the traction that memes have brought into the Solana ecosystem. She further noted that the network made $1.6 billion in the first half of 2025 thanks to these meme coins. Another member of the crypto community, Ethereum developer Hanniabu, had earlier echoed a similar sentiment, suggesting that the network would be nothing without meme coins. Null, a member of the BONK community, declared that the Solana network would have never been where it is today without meme coins. Yakavenko replied sarcastically, saying, “Absolutely. Without lootboxes, iOS would have negligible revenues for Apple.” Meanwhile, Crypto community member Art Chick asked the Solana founder if he had a problem with memecoin traders spending $150 billion a year on his chain, but they don’t see it as mobile gaming. Yakovenko responded and alluded to an earlier reply in which he explained that what is important is the need to monitor data, fix problems, use snipers, and work towards sandwich-resistant market implementations. Difference Between Solana and Base Meme Coins It is worth noting that the Solana founder’s comment about meme coins stemmed from when he criticized a comment from Base’s lead developer Jesse Pollak, who suggested that Zora meme coins (which are Base tokens) are more valuable than those from Solana’s Pump.fun. In response, Yakovenko asked Pollak if Zora coins have any claims on future cash flows from creators, something which Pump.fun has. Related Reading: Top Meme Coins Stealing The Spotlight As Bitcoin Price Hits $118,000 ATH Pollak then clarified that each coin’s value depends on their fundamentals, which is why he believes that not all meme coins are the same. However, the Solana founder doesn’t believe meme coins as a whole have any “intrinsic value.” Despite his comment, these meme coins, especially the top ones like Fartcoin, BONK, PENGU, and TRUMP, continue to contribute to a significant amount of the daily trading volume on the network. Notably, the Solana price surged to a new all-time high (ATH) of $294 in January, around the time the TRUMP meme coin first launched. SOL witnessed a significant surge in its demand at the time, with investors requiring the altcoin to purchase the meme coin. At the time of writing, the Solana price is trading at around $183, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
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Linea, a Layer-2 network built on Ethereum, has introduced a comprehensive roadmap to strengthen its integration with the Ethereum ecosystem, according to a July 29 statement shared with CryptoSlate. At the heart of the plan is a new ETH-native staking system that enables bridged ETH to earn yield directly from Ethereum’s mainnet validators. This will […]
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SharpLink has now bought more than 438,000 ETH, but BitMine’s total holdings exceed 625,000 ETH — highlighting the fierce competition between the two largest ETH treasury players.
The transaction was backed by sixty institutional and crypto-native investors, including Polychain Capital, GSR.