Bitcoin asset manager Parataxis will go public via a SPAC deal that could see up to $640 million in gross proceeds to fund a Bitcoin treasury.
JPMorgan’s permissioned platform will help reduce settlement risk, time, and cost by enabling 24/7 programmable payments
Investors include Castle Island Ventures, Ledger Cathay Fund, RockawayX, Asymmetric, UTXO Management, Anchorage, and Amber Group.
The new tariffs may boost federal revenue but risk trade tensions and potential GDP slowdown, impacting global economic relations.
The post Trump declares reciprocal tariffs now in effect appeared first on Crypto Briefing.
Solana started a fresh increase from the $162 zone. SOL price is now consolidating gains and might aim for more gains above the $172 zone. SOL price started a fresh upward move above the $165 and $166 levels against the US Dollar. The price is now trading above $165 and the 100-hourly simple moving average. There is a contracting triangle forming with resistance at $168 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $172 resistance zone. Solana Price Eyes Upside Break Solana price started a decent increase after it found support near the $162 zone, like Bitcoin and Ethereum. SOL climbed above the $165 level to enter a short-term positive zone. The price even smashed the $1682 resistance. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $172 swing high to the $162 low. However, the bears are active near the $170 zone. The 76.4% Fib retracement level of the downward move from the $172 swing high to the $162 low is acting as a resistance. There is also a contracting triangle forming with resistance at $168 on the hourly chart of the SOL/USD pair. Solana is now trading above $165 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $170 level. The next major resistance is near the $172 level. The main resistance could be $175. A successful close above the $175 resistance zone could set the pace for another steady increase. The next key resistance is $182. Any more gains might send the price toward the $192 level. Are Downsides Limited In SOL? If SOL fails to rise above the $170 resistance, it could start another decline. Initial support on the downside is near the $164 zone. The first major support is near the $162 level. A break below the $162 level might send the price toward the $152 support zone. If there is a close below the $150 support, the price could decline toward the $145 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $164 and $162. Major Resistance Levels – $170 and $172.
Analysts pointed to the surging interest in DeFi and stablecoins alongside the growing trend of firms adopting the ETH treasury strategy.
The move broke through multiple short-term resistance levels and coincided with high-volume buying activity, particularly on Korean exchanges.
The Bitcoin market is in a “relatively balanced position” despite a recent price pullback from all-time highs, Glassnode said.
XRP price is struggling to continue higher above the $3.020 zone. The price is consolidating and might decline below the $2.920 support. XRP price is correcting gains from the $3.10 zone. The price is now trading near $2.980 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $3.020 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $2.880 zone. XRP Price Faces Resistance XRP price failed to continue higher above the $3.10 resistance zone, like Bitcoin and Ethereum. The price formed a short-term top and started a fresh decline below the $3.020 level. The price dipped below the $3.00 level. There was a move below $2.950 and the price tested the 50% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high. However, the bulls were active near the $2.920 zone. The price is now trading near $2.980 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.00 level. There is also a bearish trend line forming with resistance at $3.020 on the hourly chart of the XRP/USD pair. The first major resistance is near the $3.10 level. A clear move above the $3.10 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.180 resistance or even $3.20 in the near term. The next major hurdle for the bulls might be near the $3.250 zone. Another Decline? If XRP fails to clear the $3.020 resistance zone, it could start another decline. Initial support on the downside is near the $2.920 level. The next major support is near the $2.880 level or the 61.8% Fib retracement level of the upward move from the $2.730 swing low to the $3.106 high. If there is a downside break and a close below the $2.880 level, the price might continue to decline toward the $2.810 support. The next major support sits near the $2.750 zone where the bulls might take a stand. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.920 and $2.880. Major Resistance Levels – $3.020 and $3.10.
South Korea’s KakaoBank is looking at services for the issuance and custody of stablecoins with plans to “actively participate” in the crypto market.
The price of XRP is currently showing mixed signals, with short-term support still holding, but warning signs appearing on the longer-term charts. XRP is also flashing a bearish divergence. This is not a short-term signal and doesn’t mean XRP will crash today or tomorrow. However, it does mean that bullish momentum could fade over the …
“Bitcoin was again approaching its 50-day moving average. Such frequent testing of the medium-term trend signal line indicates accumulated fatigue in the first cryptocurrency,” one analyst said.
GameStop's shift towards Bitcoin-like trading suggests a strategic pivot in investment focus, potentially influencing retail investor behavior.
The post Billionaire Bill Gross says GameStop now trades more like Bitcoin than a meme stock appeared first on Crypto Briefing.
DL Holdings plans to raise roughly $83.2 million through share placements to support its blockchain and crypto asset initiatives.
Japan’s largest bank, SBI, has unveiled plans to launch the country’s first exchange-traded fund (ETF) that will be linked to both Bitcoin (BTC) and XRP. SBI Unveils Japan’s First Bitcoin And XRP ETF According to circulating reports, this investment vehicle aims to trade on the Tokyo Stock Exchange (TSE), offering institutional investors a regulated avenue to gain exposure to two of the market’s largest cryptocurrencies. In addition, the country’s financial giant has introduced a second product, the Digital Gold Crypto ETF, which will allocate 51% to gold and 49% to cryptocurrencies. Related Reading: Dogecoin Price Crash Could End Soon With A Roadmap For $5 This structure is reportedly designed to mitigate investment risks through diversification, catering to a growing interest in combining traditional assets with digital currencies. This announcement arrives at a pivotal moment as Japan’s Financial Services Agency (FSA) is contemplating regulatory changes that could simplify the approval and tax processes for cryptocurrency-related financial products. Such developments may further enhance the attractiveness of these offerings to investors looking for regulated investment opportunities in the crypto space. Meanwhile, across the waters in China, the focus is shifting towards the introduction of the country’s first stablecoin. Hong Kong Emerges As Crypto Testing Ground Reports from the Financial Times indicate that Hong Kong has emerged as a testing ground for cryptocurrency initiatives, particularly in light of the stringent bans imposed on the mainland. Recently, Hong Kong passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has adopted a cautious approach, announcing that only a limited number of licenses will be granted starting next year. Chinese policymakers are increasingly recognizing the significance of stablecoins, particularly in the context of dollar-backed tokens that dominate the global economy. Related Reading: Is The Bitcoin Bull Run In Jeopardy? Expert Reveals Strategy’s Alleged Plan To Sell All BTC Holdings In a speech made in June, Pan Gongsheng, the governor of China’s central bank, noted that stablecoins have “fundamentally reshaped the traditional payment landscape.” This acknowledgment reflects a growing interest in stablecoins from Chinese state-owned enterprises, especially for payment and settlement solutions. Several state-owned companies operating in Hong Kong are reportedly preparing to apply for stablecoin licenses, although only one of China’s four major state-owned banks is anticipated to receive a license from the HKMA in this initial phase. Notably, the HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a potential move that could greatly facilitate cross-border payments—an increasingly vital area for China as it seeks to enhance its financial influence globally. When writing, Bitcoin trades at $115,245, recording a 1% recovery in the 24-hour time frame. When compared to its recently achieved all-time high (ATH) of $123,000, the cryptocurrency has retraced over 6%. Featured image from DALL-E, chart from TradingView.com
Seven Republican senators are urging the Commerce Department to investigate whether open-source models like DeepSeek’s R1 pose risks.
Nate Geraci, ETF expert and President of NovaDius Wealth Management, has shared his belief that BlackRock is likely to file for spot ETFs for XRP and Solana. BlackRock already leads the market in crypto ETFs. It runs the largest Bitcoin ETF and also recently launched a major Ether ETF. The company is known for its …
The shift in volatility patterns suggests bitcoin is increasingly mirroring Wall Street dynamics.
Ethereum price found support near the $3,540 zone and recovered. ETH is rising and might soon aim for a move above the $3,740 zone. Ethereum started a fresh increase above the $3,540 and $3,580 levels. The price is trading above $3,620 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $3,625 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,540 zone in the near term. Ethereum Price Aims Higher Ethereum price started a fresh increase from the $3,540 support zone, beating Bitcoin. ETH price was able to recover above the $3,550 and $3,580 resistance levels. The bulls even pushed the price above the $3,700 resistance zone. However, the bears remained active near the $3,750 zone. A high was formed at $3,733 and the price corrected some gains. There was a move below the $3,620 level. The price tested the 50% Fib retracement level of the upward move from the $3,350 swing low to the $3,733 high. ETH is again rising above $3,600. There was a break above a bearish trend line with resistance at $3,625 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $3,700 level. The next key resistance is near the $3,720 level. The first major resistance is near the $3,750 level. A clear move above the $3,750 resistance might send the price toward the $3,820 resistance. An upside break above the $3,820 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,120 in the near term. Are Dips Supported In ETH? If Ethereum fails to clear the $3,720 resistance, it could start a fresh decline. Initial support on the downside is near the $3,620 level. The first major support sits near the $3,580 zone. A clear move below the $3,580 support might push the price toward the $3,540 support. Any more losses might send the price toward the $3,440 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,540 Major Resistance Level – $3,750
REX is now live on Linea, the Ethereum Layer 2 network founded by Consensys, with a decaying fee mechanism.
After recovering from its local lows, Cardano (ADA) is retesting a key area that could send the price to the next crucial resistance. Some analysts suggest that the cryptocurrency is preparing for a massive rally. Related Reading: Solana To Drop Before The ‘Real Move’? Analyst Forecasts New Highs In Q3 Cardano Retests Key Resistance Following last week’s drop to the $0.70 support, Cardano is attempting to break out of a crucial resistance level to continue its rally. The cryptocurrency has surged 8.8% from Friday’s low, retesting the $0.74-$0.76 area throughout this week. Notably, ADA has been hovering between the $0.65-$0.85 price range since the Q2 market recovery, briefly losing this area during the June pullback. However, the July market pump sent the altcoin to a four-month high of $0.93, sparking bullish sentiment among investors. Since then, Cardano has been in a downtrend, attempting to break out of the descending resistance for the past two weeks. Market watcher Sebastian noted that the cryptocurrency has repeatedly retested the $0.76 zone over the past few days, suggesting that “the more it tests it, the higher the likelihood to break it.” According to the analyst, ADA must reclaim the 50-day Moving Average (MA), which has served as a strong resistance and support level and coincides with the descending resistance breakout area. Following today’s performance, the altcoin has reclaimed the 50 MA indicator and eyes a retest of the $0.76 resistance. A breakout from this level would set the stage for a retest of the next crucial area between $0.79 and $0.80. “Getting back above $0.80 would confirm the trend reversal,” Sebastian affirmed. Meanwhile, a rejection from this area could propel Cardano to retest the recent lows and risk losing its local range again. ADA Breakout Eyes 85%-120% Rally Man of Bitcoin noted ADA’s recent performance, asserting that it is “now potentially working on a small 1-2 setup.” Based on this, he suggested that “as long as the price remains above the last swing low at $0.685, wave-5 of iii should follow next.” Meanwhile, analyst Ali Martinez highlighted that the cryptocurrency has been trading within a descending channel since its December 2024 high of $1.32. According to the chart, ADA retested the channel’s upper boundary for the first time in months during the July breakout but was ultimately rejected. Reclaiming the $0.76 could propel the altcoin to the channel’s resistance, and “a breakout above $0.84 could set Cardano on a path toward $1.30.” Additionally, Martinez asserted that “ADA is showing the same price structure as the last cycle, only this time, it’s unfolding more gradually. And it feels like we’re right at the beginning of an explosive move.” Similarly, Crypto Bullet stated that Cardano has been following a pattern over this cycle. Per the chart, the cryptocurrency has been trading down for months before breaking out and reaching new local highs. Related Reading: Is Bitcoin’s Price Discovery Rally Over? This Week’s Performance May Hold The Answer Last month, the cryptocurrency broke out of its eight-month downtrend, targeting a rally toward the $1.60 area. Now, ADA is retesting the descending resistance line, which could set up the stage for the 120% jump if the breakout is confirmed. As of this writing, Cardano is trading at $0.74, a 3% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
As part of an initiative to internationalize the renminbi (Chinese Yuan) and enhance its competitiveness against the US dollar, China is poised to launch its first stablecoin. Meanwhile, the US is making significant progress toward its mission of becoming the crypto capital of the world. Despite this ambitious plan, concerns about potential capital flight are reportedly hindering the rapid advancement of stablecoin technology within the country. China Explores Stablecoin Initiatives According to a report from the Financial Times, Hong Kong has emerged as a testing ground for cryptocurrency, particularly given the strict bans on the mainland. Recently, the territory passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has taken a cautious stance, indicating that only a limited number of licenses will be issued starting next year. Related Reading: Bitcoin Insult Alert: Pro Trader Dubs HODLers ‘Idiots,’ Saylor Fires Back Policymakers in China have increasingly turned their attention to stablecoins, recognizing the growing dominance of dollar-backed tokens in the global economy. The central bank governor, Pan Gongsheng, noted in a June speech that stablecoins have “fundamentally reshaped the traditional payment landscape.” However, the Chinese government faces a delicate balancing act; while it seeks to enhance the global standing of the renminbi, it must also maintain stringent controls over its financial system. Recent discussions among financial regulators have centered on the implementation of stablecoin projects, emphasizing that any such initiative must align with China’s unique national conditions. Yet, experts have cautioned that the risks associated with capital outflows could pose significant challenges. Interest Grows In Hong Kong Rebecca Liao, CEO of Saga, a company focused on blockchain infrastructure, articulated the complexities of adopting stablecoin technology, highlighting that it cannot be completely controlled by central authorities. This concern has contributed to Hong Kong’s slower progress in developing a thriving stablecoin market, especially when compared to the rapid growth observed in the United States. The HKMA has voiced apprehensions about the potential use of stablecoins in money laundering, emphasizing the need for stability and control in its new regulatory framework. As such, initial stablecoin programs in Hong Kong are expected to focus on business-to-business applications, limiting their broader adoption. Related Reading: Is The Bitcoin Bull Run In Jeopardy? Expert Reveals Strategy’s Alleged Plan To Sell All BTC Holdings The report emphasizes that interest in stablecoins is also growing among Chinese state-owned enterprises, particularly in the context of payment and settlement solutions. Multiple state-owned companies with operations in Hong Kong are reportedly looking to apply for stablecoin licenses, although only one of China’s four major state-owned banks is expected to receive a license from the HKMA in this initial phase. The HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a move that could further facilitate cross-border payments—an area of increasing importance for China. Featured image from DALL-E, chart from TradingView.com
The conviction highlights regulatory challenges for DeFi, potentially stifling innovation and raising concerns about future legal precedents.
The post Tornado Cash dev Roman Storm found guilty of running unlicensed money biz, sanctions and money laundering charges unresolved appeared first on Crypto Briefing.
Bitcoin price is attempting to recover above the $114,200 zone. BTC is now consolidating and might attempt to clear the $115,500 resistance zone. Bitcoin started a recovery wave above the $113,500 zone. The price is trading above $114,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with resistance at $114,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $115,500 resistance zone. Bitcoin Price Attempts Recovery Bitcoin price found support near the $112,000 zone and started a recovery wave. BTC was able to climb above the $113,500 and $114,200 resistance levels. Besides, there was a break above a bearish trend line with resistance at $114,300 on the hourly chart of the BTC/USD pair. The price climbed toward the 50% Fib retracement level of the move from the $118,918 swing high to the $112,000 low. However, the bears were active near the $115,500 resistance and the price struggled to continue higher. Bitcoin is now trading above $114,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $115,000 level. The first key resistance is near the $115,500 level. The next resistance could be $116,250 or the 61.8% Fib retracement level of the move from the $118,918 swing high to the $112,000 low. A close above the $116,250 resistance might send the price further higher. In the stated case, the price could rise and test the $117,500 resistance level. Any more gains might send the price toward the $118,000 level. The main target could be $120,000. Another Drop In BTC? If Bitcoin fails to rise above the $115,500 resistance zone, it could start another decline. Immediate support is near the $114,200 level. The first major support is near the $113,500 level. The next support is now near the $112,000 zone. Any more losses might send the price toward the $110,500 support in the near term. The main support sits at $108,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $113,500, followed by $112,000. Major Resistance Levels – $115,500 and $117,500.
Cosmos Health, a Nasdaq-listed healthcare firm, said it has secured up to $300 million in financing to launch an Ethereum treasury strategy.
Apple pledged an extra $100 billion to U.S. manufacturing as Trump threatens tariffs on foreign-made chips.
Ethereum (ETH) has mirrored the broader cryptocurrency market’s recent downturn, with its price declining by 4% over the past week. As of today, ETH trades at approximately $3,598, reflecting a 1% decrease in the past 24 hours. This pullback follows months of mixed price action across the market, as traders balance optimism over long-term fundamentals with short-term risk management. New insights from on-chain data suggest heightened market activity surrounding Ethereum despite its failure to reclaim the $4,000 mark. Analysts point to unprecedented levels of Open Interest (OI) in Ethereum futures contracts, combined with record daily transactions on its network. While this signals growing participation and network adoption, it also raises concerns about potential volatility if market sentiment shifts abruptly. Related Reading: Ethereum Price Falters Above $3,700 – Is a Pullback Brewing? Ethereum Open Interest Hits All-Time High CryptoQuant analyst CryptoOnchain reported that Ethereum’s OI on Binance has recently reached a record-breaking $77 billion. Open Interest measures the total number of outstanding derivative contracts, providing insight into market activity and trader participation. The surge suggests that more capital is entering ETH futures markets, potentially setting the stage for significant price movements. This rise in OI coincides with Ethereum reaching its highest daily transaction count ever recorded. Analysts link this spike in activity to increased engagement in decentralized finance (DeFi), growth in layer-2 scaling solutions, and broader adoption of Ethereum-based applications. CryptoOnchain noted that such developments “highlight growing participation and user engagement,” adding that this type of market buildup often precedes sharp price trends, either upward or downward. However, this accumulation of leveraged positions carries risk. If price movements turn unfavorable for the majority of open contracts, a wave of liquidations could occur, amplifying volatility. This has been a recurring theme in the cryptocurrency market, where leveraged positions can trigger cascading sell-offs during sudden price corrections. Bearish Signals Emerge from Market Order Activity Another CryptoQuant analyst, Maartunn, highlighted a different indicator that reflects short-term market pressure on Ethereum. According to his data, Net Taker Volume for ETH stood at -$418.8 million daily. This figure represents roughly 115,400 more ETH sold via market orders than bought, indicating a clear imbalance in favor of sellers. Market orders, unlike limit orders, execute trades immediately at the best available price. A sustained negative Net Taker Volume often signals urgency among sellers, potentially foreshadowing further downside if buy-side demand fails to absorb the selling pressure. Maartunn explained that “such behavior indicates participants were willing to prioritize execution speed over price,” typically a bearish market sign. Related Reading: Ethereum Consolidation Deepens As Taker Buy/Sell Ratio Hits One Of The Lowest Levels This Year Ethereum’s price action remains constrained below its psychological $4,000 resistance level. Despite strong on-chain activity, the divergence between network fundamentals and price performance shows a period of indecision for ETH. Featured image created with DALL-E, Chart from TradingView
Shares in IREN closed trading on Wednesday up 11.4% after it reported mining more Bitcoin than MARA Holdings in July.
Glassnode data shows BTC caught in a fragile holding pattern after slipping below key support. Market makers say conviction remains weak, with majors struggling to lead.
Parataxis going public could enhance institutional Bitcoin exposure, potentially influencing digital asset investment strategies globally.
The post Bitcoin-native Parataxis to go public in SPAC deal with SilverBox, targeting $640M raise appeared first on Crypto Briefing.