Bitcoin (BTC) continues to face resistance just under the $120,000 mark, struggling to build enough momentum for a breakout. Over the past 24 hours, the cryptocurrency has remained in a tight trading range above $118,000, representing a slight decline of nearly 4% from its most recent all-time high. Despite the lack of upward movement, analysts suggest that Bitcoin may be entering a phase of energy consolidation rather than signaling an imminent downturn. According to data from CryptoQuant, two separate market analysts have shared their perspectives on BTC’s current cycle, focusing on long-term valuation metrics and investor activity patterns that could influence the next significant price movement. Related Reading: Bitcoin Long-Term Holders Begin Distribution: Mirroring Fall 2024 Cycle Bitcoin MVRV Ratio Signals Potential Upside Momentum CryptoQuant contributor CoinCare highlighted the role of the Market Value to Realized Value (MVRV) ratio in assessing Bitcoin’s position in its current market cycle. The MVRV ratio measures whether BTC is trading above or below its perceived fair value, with readings below 1 often marking market bottoms and readings above 3.7 typically associated with market peaks. In a recent post titled “The MVRV Indicator is Converging Toward Its 365-Day Moving Average. What Comes Next”, CoinCare explained that Bitcoin’s MVRV is currently at 2.2, gradually moving closer to its 365-day moving average. “Historically, when the MVRV ratio converges toward its long-term average, it tends to rebound and move toward overvalued territory, often accompanying price growth,” the analyst noted. Based on historical patterns, CoinCare expects BTC to continue consolidating before attempting another upward push, potentially retesting overvaluation levels if buying activity strengthens. New Investor Activity Indicates Healthy Late Bull Cycle A separate analysis from another CryptoQuant analyst, AxelAdlerJr, examined Bitcoin’s market structure based on investor dominance metrics. The data showed that new investor dominance currently sits at 30%, significantly below levels that previously indicated overheated market conditions, which reached 64% and 72% during local price peaks in March and December 2024, respectively. According to AxelAdlerJr, the steady increase in activity from new market participants since July 2024 suggests that fresh liquidity is entering the market, supporting ongoing bullish sentiment. Related Reading: Bitcoin Demand Drops Among US Investors—Is a Price Correction Coming? At the same time, long-term holders are selling moderately, with a coefficient of 0.3, meaning that the supply from coins held for three years or more is being absorbed without triggering sharp market corrections. “This dynamic indicates that while new buyers are active, there is still space before the market reaches euphoric levels, which typically occur when new investor dominance exceeds 60-70%,” the analyst stated. Featured image created with DALL-E, Chart from TradingView
The developers behind Samourai Wallet pleaded guilty to a single count of conspiracy to operate an unlicensed money‑transmitting business. The plea deal secures dismissal of the parallel money laundering conspiracy charge and caps potential prison time at five years. It also includes $237 million in forfeiture and a $400,000 fine. As journalist Matthew Russell Lee […]
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Though it has weighed in on traditional staking, the US Securities and Exchange Commission has not issued guidance on liquid staking.
Once one of crypto’s loudest critics, Jamie Dimon now says he’s a “believer” in stablecoins as JPMorgan deepens its push into digital assets.
The Algorand Foundation has released a sweeping new roadmap to revive its ecosystem and push blockchain adoption into everyday life. Announced on July 31, the 2025+ roadmap is a strategic pivot meant to reassert Algorand’s relevance in a market increasingly dominated by competitors like Solana and Ethereum. According to CEO Staci Warden, the Foundation is […]
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The proposal aims to make Ethereum faster and quantum-resistant, while also reducing the layer-1 blockchain's technical complexity.
The crypto exchange missed revenue estimates for Q2 2025, with transaction volumes falling sharply. Still, steady growth in stablecoin-related income offered some relief.
Solana (SOL) is staging a potential comeback, rebounding 1% to $187.43 after triggering a TD Sequential buy signal at $178. This technical indicator, widely used to identify trend reversals, has sparked renewed bullish sentiment among traders, especially as SOL consolidates above the key $180 level. Related Reading: Whale Buys $153M In Ethereum From Galaxy Digital OTC: Institutions Are Betting Big The 4-hour chart shows diminishing bearish momentum, with candlesticks losing strength—an early sign that sellers are losing control. A green arrow under the final bearish candle, coupled with a black arrow confirmation, adds credibility to the bullish thesis. Solana’s Price action is forming higher lows, suggesting strength is building for a possible breakout toward $188–$190. However, SOL’s bullish narrative is tempered by growing internal tension in the crypto space, especially with growing security concerns. SOL's price records a slight bearish deviation on the daily chart following a rebound from critical support. Source: SOLUSD on Tradingview Ethereum-Based Scams Threaten The Solana Ecosystem Integrity? Community sentiment has turned cautious after warnings from prominent Solana contributor Dean Little. He flagged the risk of Ethereum “grifters” exploiting Solana’s fast and affordable infrastructure for scams, potentially undermining trust and driving away long-term users. This concern isn’t unfounded, Solana has seen its daily active addresses fall by 16% in the past week, with DeFi total value locked (TVL) dipping 8%. Though July was strong, with $9.85B TVL and $82B in DEX volume, signs of cooling engagement have coincided with SOL’s price retracing from its $206 high. Traders Eye Breakout as Sentiment and Technicals Collide Despite the volatility, the TD Sequential buy signal has provided a technical lifeline. SOL is holding the 20-day EMA near $178, a key dynamic support. Retail long positioning has surged, and open interest is rising, suggesting that traders are preparing for a move. Related Reading: Dogecoin Eyes Breakout Above Key Trendline-Will Momentum Hold Or Fade? As SOL battles for control above $180, a sustained close above $190 could reignite momentum. Still, with Ethereum-based scams casting a shadow, traders must stay woke. The next few sessions could determine whether Solana’s bullish setup leads to a breakout, or succumbs to broader distrust. Cover image from ChatGPT, SOLUSD chart from Tradingview
The Philippine government has officially launched a blockchain-based system to verify government documents on the Polygon network as part of a broader initiative to modernize public services and improve trust in state-issued records, local media reported on July 31. The new platform, introduced on July 30 by the Department of Budget and Management (DBM), allows […]
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Bitcoin’s range expansion chose the downside, but data suggest the larger breakout is still brewing.
ETH might have some more juice to push to $4,700, one analyst said, but strong resistance and seasonal headwinds point to consolidation.
A fresh move by the SEC could clear the path for the first US spot ETFs tracking altcoins like XRP. Traders and investors are watching closely as new rules aim to speed up approvals by late 2025. This change comes just months after in-kind creation and redemption for crypto ETPs won the regulator’s blessing. Related Reading: Don’t Blink: 1,000 XRP Could Be The Best Move You’ve Made—Expert New Listing Standards Open Door According to the recent filing of the US Securities and Exchange Commission, any coin with at least six months of futures trading on a platform such as Coinbase’s derivatives exchange can qualify for an exchange-traded product. The six-month rule replaces a longer review process that could stretch into 240 days. Instead, exchanges can use a 75-day window once they file a rule change. This shift aims to simplify the path for an XRP ETF and similar products. The SEC’s “Listing Standards” for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase’s derivatives exchange would be approved (below is list). It’s about a dozen of the usual suspects, the same ones we had at 85% or… https://t.co/QlzZnta7Yv pic.twitter.com/CmBr8XxAcM — Eric Balchunas (@EricBalchunas) July 30, 2025 Developments around in-kind creation and redemption also matter. Based on reports from crypto lawyer Bill Morgan, this change lets authorized participants create or redeem ETF shares using actual cryptocurrency rather than cash. The revision slashes settlement costs and lines up crypto products with how gold and other commodity ETPs work. Market makers can now back ETFs with real tokens, cutting out extra steps. XRP ETF Odds Climb Bloomberg analyst Eric Balchunas has put the chance of an XRP ETF approval at 85% for September or October 2025. He notes that once the six-month futures threshold hits for assets like XRP, Dogecoin and Solana, the path becomes much clearer. Prediction markets back his view, showing odds near 86% even after procedural delays. Balchunas and his team have tracked every filing and rule tweak. They say these updated listing standards are the last major barrier. With futures already trading for multiple altcoins, issuers need only get the final green light from the SEC. That could happen by early fall, he suggests. Related Reading: XRP Traders Pull Back $2.4B—Brace For Impact Or Buy The Dip? Ripple Lawsuit And Deadlines A key hurdle remains the legal fight between Ripple and the SEC. Based on reports, both sides may drop appeals ahead of an August 15 status report deadline. If that happens, it would remove a major overhang on XRP ETF applications. The SEC has already extended Franklin Templeton’s review through the end of 2025, but this new filing hints those long waits might wrap up sooner. Legal experts like former SEC lawyer Marc Fagel believe a dismissal of appeals would clear one of the last big obstacles. Then only final SEC sign-off would stand between issuers and live trading. Featured image from Meta, chart from TradingView
Strategy (NASDAQ: MSTR/STRC), the largest corporate holder of Bitcoin (BTC), has released its financial results for the second quarter of 2025, which ended on June 30. During the second quarter, Strategy raised more than $10 billion through ATM programs and IPOs. As a result, Strategy increased its Bitcoin holdings to 628,791 coins, which is nearly …
Coinbase’s stock slid 8.4% after hours on July 31 as second-quarter results fell short of Wall Street expectations, before paring some losses into late trading. COIN closed at $377.76 and fell to $346.01 immediately after the release, and later recovered to about $354.77 as of press time. The exchange reported total revenue of $1.5 billion […]
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The announcement comes amid the exchange posting a disappointing second-quarter with shares down more than 6% in post-market trading.
Coinbase stock falls 7% after Q2 earnings miss as revenue drops 26% and the firm adds $222M in Bitcoin.
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The US-based crypto exchange clocked $1.5 billion in revenue, coming in below analysts’ expectations.
Visa, Mastercard, tech firms and banking institutions are all exploring ways of using blockchain technology for payments and settlement.
As Bitcoin (BTC) continues to consolidate slightly below the $120,000 level, the dominance of new investors is steadily rising. However, on-chain data shows that BTC is still far from overheating, suggesting the premier cryptocurrency may have more room to run before a significant correction sets in. Bitcoin May Still Have Some Room To Run According to a CryptoQuant Quicktake post by contributor AxelAdlerJr, new investor dominance in Bitcoin is gradually increasing – currently hovering around 30%, which is only halfway to the historical “overheated” threshold. Related Reading: Bitcoin Overheating Signals Easing – Is A Second-Half Rally Ahead? The analyst shared the following chart, which highlights two past instances – marked in orange – when new investor dominance reached overheated levels and coincided with BTC local price tops. The first instance occurred in March 2024 when the metric hit 64%, and the second in December 2024 when it peaked at 72%. In both cases, BTC experienced a significant pullback, leading to the formation of local bottoms. Notably, as the influx of new liquidity dried up during these phases, long-term holders began actively taking profits. This added further pressure on BTC’s price. Currently, while new investor dominance is trending higher, it remains well below the euphoria zone – typically between 60% and 70% – suggesting more upside potential in BTC’s bullish momentum before exhaustion. Meanwhile, older holders continue to sell moderately. The chart indicates a coefficient of 0.3, showing that the supply of three-year-old BTC is still absorbing fresh demand without sharp disruptions. From a long-term perspective, the market remains balanced, and the risk of large-scale capitulation from veteran wallets appears low. AxelAdlerJr concluded: If the indicator’s growth accelerates and approaches the historical corridor of 0.6-0.7, one should expect intensified profit-taking and, consequently, a correction. For now, the supply/demand structure remains in a healthy late bull cycle phase, when new money is coming in but old players have not yet transitioned to mass selling. Is BTC Price About To Stall? While the data above suggests that Bitcoin still has room to grow, other indicators point to waning momentum. One such signal is the recent decline in the Bitcoin Coinbase Premium Gap, which has broken its long streak of positive values. Related Reading: Bitcoin’s Rally Might Be Running on Fumes, Analyst Warns of August Turning Point Fellow CryptoQuant analyst ArabChain confirmed this development in their analysis. They noted that US investor enthusiasm for BTC appears to be cooling at current price levels. That said, positive macroeconomic factors – such as BTC’s historical correlation with global M2 money supply expansion – could still lead the digital asset to new all-time highs in the near term. At press time, BTC trades at $118,371, up 0.6% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
REX Shares announced in a July 31 post that its REX-Osprey SOL + Staking ETF (SSK) will make its first monthly distribution on Aug. 1, paying $0.12169 per share and passing through 100% of staking rewards. With 5,075,000 shares outstanding, the inaugural payout totals approximately $618,000. The issuer described the event as the first time […]
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The offering comes just days after closing on the sale of $2.5 billion of STRC preferred shares.
In the first six months of 2025, Tether has had a profit of $5.7 billion, a rise of 9.6% compared to the same period in 2024.
BTC could break down to potential support levels at $112,000 and lower during a likely consolidation phase, the report said.
The company posted total revenue of $1.5 billion, lower than the $1.59 billion that analysts had expected.
Paul Atkins, the current chairman of the United States Securities and Exchange Commission (SEC), has announced a new initiative dubbed Project Crypto. According to Chair Atkins, the Project Crypto initiative is a broad-based program designed to modernize the securities rules and regulations through the use of blockchain technology. The launch of the Project Crypto initiative …
Led by Michael Saylor, the company guided to full year net income of $24 billion, or $80 per share, based on a year-end BTC price outlook of $150,000.
Bitwise is the first to act on the SEC’s rule change, though analysts say it’s a backend fix, not a retail breakthrough.
Ethereum researcher Justin Drake unveiled the “Lean Ethereum” proposal on July 31 that reframes the base layer around the imperatives of survivability against nation-state and quantum threats and orders-of-magnitude performance gains without sacrificing decentralization. The new guidelines were dubbed “fort mode” and “beast mode,” respectively. Published on the Ethereum Foundation blog, the vision argued that […]
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The latest What Bitcoin Did episode, hosted by Danny Knowles, turns squarely to the question stalking one of the market’s hottest trades: can the boom in “Bitcoin treasury” companies withstand the next prolonged drawdown? Dylan LeClair, who helps lead the Bitcoin strategy at Tokyo-listed MetaPlanet, argues the answer rests less on ideology than on balance-sheet engineering, scale, and the willingness to endure volatility without blinking. “There’s sort of a ‘gradually then suddenly’ inflection point,” he said, describing how corporate exposure to Bitcoin has migrated from gimmick to boardroom agenda. The shift, in his view, is irreversible, but survival “is a constant fight with gravity” for firms that trade at premiums to their net asset value (NAV). Why Some Bitcoin Treasury Companies Won’t Survive The Bear Market LeClair’s thesis starts with market structure. Bitcoin is homogeneous collateral, but public equities are not. Liquidity, index inclusion, and the absolute size of a balance sheet produce a “winner-take-most dynamic,” he said. Even where two issuers have the same headline premium, the gravity of size changes the calculus: “Strategy is at a measly 1.8x premium, but the premium is like $50 billion of value,” he noted, contrasting that with the far smaller absolute premia attached to emerging players. Premiums compress mechanically as companies buy more Bitcoin or as the price rises, he added, which means maintaining a rich multiple demands ever-larger inflows of capital. Related Reading: Analyst Says Bitcoin’s Final Leg Is Near – Time To Be ‘Cautiously Optimistic’? Pressed on what a bear market would do to those premia, LeClair separated cycle folklore from funding reality. He does not buy the inevitability of a 70% “pack it up for three years” drawdown as a base case, arguing the market now tends to reprice and then chop for extended periods. But he is unequivocal that a risk-off phase would punish sloppy balance sheets. “There will be pressure on MNAVs… Are you levered? With what sort of debt? Do you have secured debt where your Bitcoin’s encumbered? Do you have debt due in one year?” By contrast, he pointed to perpetual preferred equity—dividends but “no debt maturity ever”—as a structure that removes the most dangerous cliff: “With the prefs it’s like, no, we’re not selling actually ever.” For MetaPlanet, he framed risk management in deliberately dull terms: “We’re focused on staying… pristine, maintaining maximal flexibility.” He cited a “BTC rating” of roughly 16.5x—“we have 16 bucks of Bitcoin for every dollar of debt”—as intentional dry powder rather than under-optimization. The stress test, to him, is behavioral as much as financial: can management “eat the 70% bear market” if it comes? He expects casualties. “It’s naive to say that every company that adopts Bitcoin will be a success… there will be failures. There will be a bankruptcy… it’s a brutal, competitive world.” Where, then, is the moat? Not merely in being public, he argued, but in graduating from equity capital to the far deeper fixed-income markets. Convertibles provided early leverage—but at a cost he described with traderly bluntness. Convertible desks “woo you,” then short aggressively to hedge, “dampening the volatility” that many treasury companies actually want in their common stock. The more durable solution, he said, is permanent capital in the form of preferred equity. Here he credits Michael Saylor’s Strategy (formerly MicroStrategy) with reaching “escape velocity,” pioneering a layered capital stack that now includes a new variable-rate preferred dubbed “Stretch” (ticker: STRC). Stretch is engineered to keep trading near $100 by adjusting its dividend and, if necessary, issuing new shares or calling them at $101—“a pretty genius feat of financial engineering,” in LeClair’s words, because it behaves like a cash-equivalent for investors without imposing maturity cliffs on the issuer. Strategy priced STRC in late July with an initial dividend framework and then closed a multi-billion-dollar offering, with the company describing the instrument as variable-rate, perpetual preferred stock designed to pay monthly and target trading near par. LeClair sees this as the practical realization of a long-standing ambition in crypto finance: a dollar-like instrument tied to Bitcoin collateral, without forcing asset sales in stress. Unlike algorithmic stablecoins that were vulnerable to redemptions spirals, Strategy’s preferreds are senior to common equity and massively over-collateralized by transparent Bitcoin holdings, he argued. External observers have reached similar high-level descriptions: Strategy’s own materials emphasize STRC’s variable dividend on a stated $100 amount, while coverage in financial media notes the offering’s explicit aim to hew to par and its place alongside earlier preferreds (Stride, Strike, Strife) in a capital stack backed by tens of billions in unencumbered Bitcoin. All of this feeds the consolidation logic LeClair expects in a downturn. Preferreds, he said, are both offensive and defensive. Offensively, they add dry powder to buy more BTC or even buy back common if MNAV compresses, reversing flow against short sellers “playing this spread game.” Defensively, they function as an “MNAV defense mechanism,” easing reliance on converts and the gamma-trading that “neuters volatility” in the common. If markets turn, he anticipates classic Wall Street behavior: opportunists will “clear off some debt, buy the Bitcoin at a discount.” MetaPlanet, he added, is not seeking to be a roll-up; the focus is “laser” on BTC itself. Related Reading: Bitcoin Heat Macro Phase Signals Market Sits Between Accumulation And Distribution Could Anyone Catch Strategy? LeClair is diplomatic on peers bringing large private Bitcoin pools public, calling it “overwhelmingly positive” for the asset. But his competitive assessment is stark: “I think Saylor’s reached escape velocity… a 600,000 Bitcoin lead is pretty insurmountable.” To contextualize that claim with public data, Strategy now reports roughly 629,000 BTC, giving it a commanding lead over other corporate holders. He adds that only a mega-cap with a decisive pivot—“if Mark Zuckerberg took the orange pill tomorrow”—could realistically challenge, which he deems unlikely given competing priorities like AI. LeClair is no maximalist about smooth sailing. Premiums will ebb. Funding windows will open and slam shut. Some firms, he warned, are “cosplaying as Bitcoiners” and may abandon discipline at the first whiff of pain. He was also frank about the sector’s self-selection bias: during the good times, new “treasury companies” appear by the week; the real filter arrives when prices fall and maturities near. “The times are good now… there will be a cycle. That’s what will separate the men from the boys,” he said. Survival, in his telling, comes down to a few non-negotiables: unencumbered collateral, long-dated or perpetual liabilities, and management that will not sell into downdrafts. Yet his broader message is that the game board has changed. Corporate adoption remains “early innings,” he said, because “the rest of the world actually simply doesn’t care” yet. The depth of the credit markets—and the emergence of Bitcoin-backed instruments palatable to those markets—may be what finally does the persuading. “If Bitcoin is going to eat the world… it has to get to all these different pools of capital.” Treasury companies that make that leap, he believes, can not only endure a bear market—they can use it to widen the gap. At press time, BTC traded at $118,100. Featured image created with DALL.E, chart from TradingView.com
The new framework is aimed at simplifying the protocol’s design while preparing it for the security risks posed by future quantum computers.