A mining ban went into effect in the African nation in April 2024, followed by Chinese officials warning residents not to “support or engage in virtual currency mining activities.”
Bitcoin is trading at a pivotal level after losing momentum from the $120,000 zone and slipping into deeper volatility. The price is now testing the $112,000 support level, a key zone for bulls to defend in order to avoid further bearish pressure. While the broader trend remains constructive in the long term, the short-term outlook has tilted toward weakness, with momentum indicators showing a leaning toward the downside. Related Reading: Whale Loads Up $300M Ethereum Onchain: Did He Just Catch The Bottom? Analysts highlight this moment as a potential inflection point for the market. A strong defense of current levels could reset sentiment and allow Bitcoin to consolidate before another breakout attempt. However, failure to hold above $112K may trigger a sharper correction, opening the path toward deeper support levels. Adding to the cautious tone, CryptoQuant’s head of research, Julio Moreno, shared new data showing that the CryptoQuant Bull Score Index has shifted into a neutral signal. This shift highlights that while selling pressure hasn’t fully taken over, the market is no longer in clear bullish territory. The coming days will be decisive in determining Bitcoin’s short-term trajectory. Bitcoin Indicator Signals Caution According to CryptoQuant’s head of research, Julio Moreno, Bitcoin’s Bull Score Index has shifted from a “Bullish Cooldown” phase to a “Neutral” phase. The index, which tracks overall market strength using a combination of trading flows, investor behavior, and derivatives data, declined from 70 to 50. This move signals that bullish momentum has weakened, leaving Bitcoin in a more balanced state between buyers and sellers. Moreno noted that “for risk management purposes, further softening in the index indicates price could go lower.” This means that while the neutral zone doesn’t yet imply a confirmed downtrend, any additional deterioration could increase the probability of deeper corrections. Traders are therefore closely watching upcoming sessions, as price action around the $112K–$115K support zone will be critical in shaping short-term direction. The broader context remains constructive. Bitcoin has been in a steady uptrend since 2023, a cycle that has already delivered massive gains and propelled the asset to new all-time highs above $124K earlier this month. Many analysts argue that the market is now in the final phase of this bull run, where volatility typically rises and investor sentiment becomes divided between expectations of continuation and warnings of exhaustion. As the month comes to an end, global macroeconomic factors—including interest rate policies, institutional inflows, and liquidity conditions—will play a decisive role. If Bitcoin holds its support and fundamentals remain strong, this neutral phase may simply represent a healthy pause before the next upward move. Conversely, if weakness persists, the market could be signaling the start of a deeper consolidation phase. Related Reading: Bitcoin Retail Transfers Collapse: Lowest Since Bull Market Peak In 2021 Price Action: Testing critical Support Level Bitcoin is currently trading around $112,837, after a sharp decline from its all-time high near $123,217. The daily chart shows that BTC has slipped below the 50-day SMA ($116,158) and is now testing the 100-day SMA ($111,224) as support. This level has become a crucial line of defense for bulls. The rejection from the $123K region highlights strong resistance overhead, which has led to several failed breakout attempts. The structure suggests that BTC has entered a consolidation phase, with the $111K–$116K zone serving as the immediate range. A decisive breakdown below $111K could open the way toward the 200-day SMA ($100,597), a level many analysts see as the final support for this cycle’s uptrend. Related Reading: Ethereum Treasury Boom Drives Demand: Can The Market Handle The Risks? Momentum indicators also align with weakening bullish pressure, as recent candles show lower highs and lower lows. However, holding above the 100-day moving average would strengthen the bull case, potentially setting up a rebound toward $118K and eventually retesting $123K. Featured image from Dall-E, chart from TradingView
Record ETF inflows pushed Ether holdings to 6.4 million, tightening supply as the price tested $4,668 after dovish comments from the Federal Reserve Chair Jerome Powell.
In Zambia, a group allegedly lured victims into a crypto investment scheme that led to $300 million in losses.
Pennsylvania lawmaker Ben Waxman, a Democrat, has introduced a bill that would prevent public officials from owning or transacting in digital assets while in office. The proposal, known as the House Bill 1812 (HB1812), aims to amend the state’s ethics and financial disclosure laws and extend those restrictions to officials’ immediate families. The legislation covers […]
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SharpLink Gaming authorized a $1.5 billion stock buyback to cushion its NAV as the ETH treasury firm continues aggressive accumulation.
XRP has been under pressure in recent days, trading just below the $3 mark after a series of pullbacks that echoed the wider cooling seen across the crypto market. However, according to a technical analysis shared by crypto analyst Nehal, the asset may be approaching a key accumulation zone. According to his outlook, this could set the stage for an explosive rally that carries XRP to at least $5 before the end of 2025. XRP Dips Below $3; Here’s When To Buy After hitting highs above $3.35 earlier in August, XRP has since faced steady selling pressure alongside the rest of the crypto market. This in turn, has seen the cryptocurrency dipping below $2.90 and into the $2.80 zone. Unless there’s a wider bulllish momentum, this decline may continue into the coming trading session, but technical analysis of the 6-hour candlestick timeframe chart shows that a major rebound could be very close. Related Reading: XRP Price Crashes After SEC Denies XRP ETFs, What Are The Next Important Dates? In his post on the social media platform X, Nehal described $2.7 as one of the clearest support levels on XRP’s chart, noting that it carries the lowest probability of being broken to the downside. According to the analyst, the number of buyers waiting at this price range makes it increasingly difficult for the asset to fall further. He personally set his buy orders between $2.76 and $2.8, and this zone is the ideal entry point for traders looking to accumulate before the next big rally. The analyst advised that XRP is unlikely to go much lower, making current levels “way too juicy” for sidelined investors to ignore. Breakout Targets On The Path To $5 Nehal’s chart shows a bullish rebound scenario where XRP rises from the $2.75 zone and begins reclaiming multiple resistance levels. The first resistance level is at $3.04, which was initially a support level that prevented any breakdown below the $3 price level throughout last week. From here, the next price target is $3.23, followed by an order block level of $3.42 in July. Related Reading: XRP Takes On Live TV: Analyst Predicts Surge To $13 If This Happens The final step in Nehal’s projected rebound is the $3.61 resistance level, which sits just below the all-time high of $3.65 reached in July. Breaking through this level would not only mark a full recovery from the recent pullback but also place XRP on course for price discovery in new territories. Each of these milestones serves as a stepping stone to a wider breakout, which he expects to carry XRP to at least $5 before the end of 2025. At the time of writing, XRP is trading at $2.86 and is steadily approaching the $2.75 buy/rebound level. However, a rebound does not necessarily require a perfect retest of this level. Instead, the XRP price may rebound anywhere between $2.76 and $2.8. Featured image from Getty Images, chart from Tradingview.com
Bitcoin surged off key support after Powell hinted at rate cuts, triggering $375M in liquidations as ETH led gains with a 10% rally.
Crypto market optimism surges, potentially signaling increased investment and economic shifts as monetary policy hints at future rate adjustments.
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Ethena approved BNB as eligible collateral for the perpetual-futures portion of USDe’s backing, hinting that XRP and HYPE may be next in line.
The rebranded crypto treasury firm disclosed a 74.8M share offering, sparking concerns even as it holds more than 82,000 ETH and $238M in cash.
Bitcoin recovers from a trip to six-week lows as Fed Chair Jerome Powell gives strong "dovish" clues over where interest rates will head in September.
Jerome Powell’s Jackson Hole speech gave traders clarity on what’s next for U.S. rates and a reason for crypto markets to cheer. Speaking at the Fed’s annual Jackson Hole symposium, Powell said a 25bps rate cut in September is highly likely. But he also made it clear this isn’t the start of a long series …
Circle, eToro and Marathon led sharp gains on Friday after Federal Reserve Chair Jerome Powell hinted that a policy shift could come next month.
Kanye West’s recently launched YZY token quickly grabbed attention in the crypto space. It shot up 1,400% shortly after its launch, but has significantly declined over 74% from its peak. Top wallets made $24.5 million in profits, while other traders saw mixed results. Initially, the token’s market value surged to $3 billion, but it has …
As U.S. President Donald Trump's chairman nominee, Brian Quintenz, remains in a confirmation holding pattern, the CFTC starts another "crypto sprint."
SharpLink said it will make the repurchases at a time and in amounts depending on the market conditions and share price.
Institutional liquidations dominated trading as 470 million XRP were offloaded across major exchanges during the Aug. 21–22 window, triggering a sharp selloff.
Coinbase is reinforcing security after North Korean hackers exploited its remote work policy, with CEO Brian Armstrong outlining stricter hiring measures.
Federal Reserve Chair Jerome Powell indicated that changing economic conditions may prompt an interest rate cut at the upcoming September FOMC meeting. Powell emphasized the “shifting balance of risks” between inflation and employment, noting that a softening labor market and cooling inflation could warrant policy adjustment. Economists widely expect a rate reduction as the Fed …
The Fed chair, perhaps surprisingly, took a dovish tone in his remarks at Jackson Hole.
Millions of dollars worth of cash and mining equipment has been seized, with 65,000 of those affected losing an estimated $300 million.
Donald Trump’s new pro-crypto political action committee has received a very large Bitcoin donation that could help shape the future of digital assets in America. Billionaire twins Cameron and Tyler Winklevoss, who are best known as the founders of the Gemini crypto exchange, announced on Wednesday that they donated $21 million in Bitcoin to the group called the Digital Freedom Fund. Winklevoss Twins Back Trump With $21M Bitcoin Donation Cameron and Tyler Winklevoss said they made the donation because they believe Trump has already taken real steps to bring digital assets into the mainstream, and they want to help him keep that momentum. Tyler Winklevoss explained that the president has been able to move quickly on his agenda because of the support he receives from the Republican-controlled Congress, and he added that it is important to protect that support when voters head into the midterm elections in 2026. Related Reading: Dogecoin Gets $153.8 Million Boost With This Latest Acquisition The Digital Freedom Fund movement aims to preserve what it terms “America’s Golden Age”. For the twins, this means giving Trump the tools to finish his push for stronger crypto reforms. Although the PAC’s website has not yet updated its records to show the $21 million donation, the announcement is already being seen as one of the biggest signs yet that major crypto leaders are ready to get directly involved in politics to shape the rules that will govern the industry. PAC’s Agenda: Pro-Crypto Laws And CBDC Ban The Digital Freedom Fund has outlined a comprehensive plan that focuses on supporting senators and House members who will pass laws that make it easier for crypto companies and users to grow without excessive restrictions. The PAC has also promised to fight for a “Skinny Market Structure Bill” that would limit regulators’ power over crypto markets while protecting the rights of developers, publishers, and users to build and transact freely. Related Reading: Shiba Inu Takes Major Step With Community Governance Model — Details As part of this plan, the PAC wants to put forward a “crypto bill of rights” that would clearly state that Americans should always have the freedom to own Bitcoin and other digital currencies, to keep them safe in their wallets, and to use them in everyday transactions without the fear of being punished, which has been a primary concern in past cases such as those involving the Tornado Cash developers and the Silk Road founder Ross Ulbricht. Although the House of Representatives passed a bill in July to block the Federal Reserve from moving forward with a CBDC, the bill is still waiting in the Senate, and the PAC says it will keep fighting until a full ban is in place. With Trump’s leadership and the new funding from the Winklevoss twins, the Digital Freedom Fund is preparing to utilize its resources to shape the 2026 midterm elections and maintain the U.S. on a pro-crypto path. Featured image from Dall.E, chart from TradingView.com
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SharpLink Gaming, the second-largest Ether corporate treasury with $3.14 billion in ETH, approved a $1.5 billion stock repurchase program.
The LDO price today sits near $1.32 after advancing to $1.53 by mid-August. While momentum still shows strength after the slight pull-back. When writing, the short-term volatility continues to pressure the token, with sellers trying hard to take control at critical resistance levels. Nevertheless, on the broader LDO price chart, the token still maintains a …
A hawkish stance by Powell could trigger significant market shifts, influencing Ethereum's trajectory and broader economic policies.
The post Ethereum could retest $4,000 if Powell turns hawkish at Jackson Hole: Arthur Hayes appeared first on Crypto Briefing.
Beijing’s consideration of a yuan-backed stablecoin could mark a new front in the global financial system, but experts say dollar dominance, liquidity and trust are high hurdles.
Blanket crypto ATM bans punish legitimate users while fraudsters adapt. Smart warning systems at kiosks could intercept scams in progress.
A viral post on X (formerly Twitter) recently showed that crypto lawyer Bill Morgan has been defending XRP against the criticism from other users. In a series of public exchanges on X, Morgan was seen presenting real-world use cases of XRP and the strength of its market capitalization. Morgan Argues: XRP vs LINK Recently, an …