Traders are betting big on Bitcoin as calm markets and record-low volatility mask the bull’s intentions.
A vote on prospective CFTC Chair Brian Quintenz was taken off the Senate Agriculture Committee’s agenda on Monday as the chamber heads into recess.
The crypto market is heating up once again as Bitcoin consolidates just below its all-time highs and Ethereum approaches critical resistance near the $4,000 level. Momentum is building across major assets, and volatility is picking up as capital rotates into altcoins. Traders are closely watching for a breakout, with many expecting a decisive move in the coming days. Related Reading: TRON Sees $1B USDT Mint: Liquidity Wave Incoming? Adding to the intensity, blockchain analytics platform Arkham (ARKM) has revealed that Abraxas Capital—a London-based investment management firm known for its aggressive crypto strategies—is currently down over $100 million on its short positions. Arkham specializes in deanonymizing blockchain transactions and linking them to real-world entities, offering deep insight into the strategies and exposures of major players. With prices steadily climbing, the firm’s unrealized losses are mounting, highlighting the risks of betting against a rising market. This revelation has sparked conversation across the industry, as it not only underscores growing institutional involvement but also reveals the shifting dynamics between smart money and market momentum in this stage of the cycle. Crypto traders now watch closely to see how this unfolds. Abraxas Capital Faces Mounting Losses On $800M Crypto Shorts According to Arkham Intelligence, Abraxas Capital currently holds nearly $800 million in short positions across Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and HYPE on the Hyperliquid platform. Notably, the largest BTC and ETH shorts on Hyperliquid belong to Abraxas, with data revealing a current unrealized loss (uPnL) of approximately $106.3 million on their account. These positions reflect a high-stakes strategy that may serve as a hedge against spot holdings or other long-term crypto exposures. However, this hedge is becoming increasingly costly as market conditions remain bullish. Bitcoin continues to consolidate near all-time highs, and any breakout above the $122K–$123K range could push prices toward the $150K–$160K zone—close to Abraxas’ BTC liquidation level at $156,000. As volatility returns to the market and altcoins start gaining momentum, these leveraged short positions face growing risk. If BTC and ETH break to new highs, unrealized losses on Abraxas’ account could accelerate sharply. While some analysts still expect a market correction, especially given the failure to set new highs in recent weeks, others see the consolidation as a bullish continuation pattern. Related Reading: Bitcoin Demand Builds at $117K: Cost Basis Distribution Defines Key Support Level Bitcoin Consolidates Between Key Levels The 12-hour chart shows Bitcoin locked in a tight range between $115,724 and $122,077, with the price currently trading at $118,497. After a sharp rally earlier in July, BTC has entered a consolidation phase, forming a sideways structure with diminishing volume—a typical sign of market indecision. Despite the lack of breakout, the price remains above all major moving averages: the 50 SMA at $115,943, the 100 SMA at $111,170, and the 200 SMA at $106,348. This alignment supports a bullish trend, with buyers still in control of the broader structure. Related Reading: Ethereum CME Futures Open Interest Hits Record $7.85B – Is ETH Overheating? However, momentum has stalled. Each attempt to break above $122,000 has been met with resistance, while dips toward $116K have been absorbed quickly. The narrowing price action and falling volume suggest a breakout—or breakdown—is approaching. If bulls manage to clear the $122K level with strong volume, a new rally toward all-time highs could follow. On the flip side, a close below $115K would break the structure and potentially trigger a deeper correction. Featured image from Dall-E, chart from TradingView
The US Securities and Exchange Commission (SEC) acknowledged on July 29 a Nasdaq proposal to amend BlackRock’s iShares Ethereum Trust (ETHA) so the fund may stake the ETH it holds. Nasdaq’s filing would delete a prior representation that neither BlackRock nor the custodian would use any ETH held by the exchange-traded fund (ETF) to validate […]
The post SEC filing starts countdown on BlackRock’s Ethereum ETF staking proposal appeared first on CryptoSlate.
The Nasdaq-listed biotechnology firm is raising $425 million for its ETH strategy, joining a parade of penny stocks investing in cryptocurrencies as their business flounders.
Bitcoin prepares for an impulse move, and if the upside is taken, ETH, BNB, AVAX and PENGU could explode higher.
The Ethereum price may be setting the stage for a historic breakout, as a new technical analysis suggests that ETH is closely mirroring the Bitcoin (BTC) price action from 2020 to 2021. With Ethereum currently consolidating beneath a long-term downtrend line and approaching critical resistance, a crypto analyst eyes a potential move to $20,000 if the historic pattern continues to play out. Ethereum Price Mirrors Bitcoin’s Historic 2021 Pattern According to a new analysis by crypto market expert Ted Pillows, Ethereum’s current price structure is beginning to reflect a striking resemblance to Bitcoin’s breakout phase in late 2020. The analyst’s chart shows ETH following a nearly identical pattern of accumulation, re-accumulation, and compression within a descending triangle fractal that Bitcoin displayed before its parabolic bull run in 2021. Related Reading: Billionaire Mike Novogratz Says Ethereum Will Enter Price Discovery If It Takes Out This Level At the time, Bitcoin had surged from a whopping $9,550 to roughly $64,000, marking a significant price increase of 570.37%. Just like BTC during the COVID pandemic shakeout, Pillow’s analysis shows that ETH has now emerged from a prolonged consolidation phase and is testing the downtrend resistance line that has capped its highs since the 2021 peak. If Ethereum breaks through its diagonal resistance, the analyst’s chart indicates that a vertical surge toward $29,500 may become technically viable. This would represent a significant increase of approximately 672% from the cryptocurrency’s current price of $3,820. Notably, the path to this bold target mirrors Bitcoin’s trajectory after it broke out of its long-term downtrend, triggering a rapid and exponential move. The chart also illustrates a potential breakout zone that aligns with the timing of the previous cycle’s price expansion—indicating that Ethereum could be preparing for its most powerful price rally yet. While the trajectory of Pillows’ arrow on the chart targets a possible surge toward $29,500, the top of the green shaded zone suggests Ethereum could reach a peak above $58,500. Such a bold move would mark a historic breakout, representing a surge of roughly 1,432% and placing ETH at nearly half of Bitcoin’s price of $118,940 as of writing. Analyst Sets $5,000 As ETH’s Minimum Target Due to Ethereum’s bullish run lately, a few analysts in the crypto community have forecasted a potential rally toward the $5,000 mark—a move that would set a new all-time high for the leading altcoin. However, while many consider a surge to $5,000 a major milestone, Pillows views this target as merely a baseline. Related Reading: This Ethereum Descending Broadening Wedge Pattern Looks Similar To 2019-2020, Here’s What Happened Last Time He has set $5,000 as the minimum target for his outlook, emphasizing his firm conviction in ETH’s bullish potential. On the chart, Ethereum’s recent consolidation is marked as a re-accumulation zone, setting the foundation for a significant rally. With a breakout from its long-term resistance in sight, Pillows’ analysis suggests that Ethereum could experience an extended bull phase with limited overhead resistance. Featured image from Getty Images, chart from Tradingview.com
Heavy declines across altcoins extended into a second week, while bitcoin and ether showed relative strength amid growing macro uncertainty.
Bitcoin’s upward momentum could face a major hurdle as over 613,000 BTC—worth billions—loom over the market, posing a significant selloff risk. With Bitcoin eyeing the critical $119K resistance level, traders and investors are moving cautiously. This potential influx of supply could stall or even reverse the current bullish trend, raising concerns about near-term volatility. Profit-Taking …
U.S. Senator Cynthia Lummis introduced another crypto bill, this one meant to reinforce an effort underway to allow use of digital assets in mortgage underwriting.
eToro's tokenization of US equities on Ethereum could revolutionize global trading, enhancing accessibility and integrating with DeFi systems.
The post eToro to launch tokenized US equities on Ethereum appeared first on Crypto Briefing.
ETH continues to show strength with record open interest and high network activity as bulls expect an upside breakout soon.
Backed by Cantor Fitzgerald, Tether and SoftBank, Twenty One Capital now holds over 43,500 BTC, surpassing early projections, according to Bloomberg.
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
BTC price action turns weaker after the Wall Street open, with Bitcoin market participants bracing for lower levels despite bullish US macro data.
Crypto doesn’t need stadium naming rights, Super Bowl ads and flashy celebrity campaigns. It just needs to post its very credible numbers, say Aubrey Strobel and Elena Nisonoff.
NEAR consolidates within constrained parameters before accelerated institutional selling precipitates breach of critical technical thresholds.
Meme token drops sharply as major traders reduce holdings.
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 […]
The post SharpLink’s quest for 1 million Ethereum boosted by $3 million staking yield appeared first on CryptoSlate.
The next frontier for crypto innovation is clear: Decentralized physical infrastructure networks need a tailored legal framework to unlock their full potential. It’s time for lawmakers to provide regulatory clarity for DePIN.
Pyth Network has launched live, onchain price feeds for 85 major Hong Kong stocks, removing access barriers and enabling real-time financial data integration.
The move is part of the firm's broader push towards enabling 24/7 trading with all kinds of assets using blockchain rails.
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 […]
The post Twenty One Capital rises to 3rd largest Bitcoin holder following 5,800 BTC boost from Tether appeared first on CryptoSlate.
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.
A critical access control bug in SuperRare’s staking contract — easily detectable by unit tests or even ChatGPT — allowed an attacker to steal $731,000 in RARE tokens.
Algeria's crypto ban may stifle innovation and deter tech-savvy youth, potentially hindering economic diversification and digital growth.
The post Algeria bans all crypto activity; violators face up to one year in jail and $7,700 fines appeared first on Crypto Briefing.
Cosmos hits 100-chain milestone as ATOM tests $4.56 support amid sustained selling pressure.
The Hong Kong Monetary Authority encouraged firms to apply for a stablecoin license by the end of August.