Galaxy Digital head of research Alex Thorn expects the banking industry to “increase their opposition efforts” following the release of the final stablecoin yield provisions.
Bitcoin nears a potential bottom between $60,000-$70,000 as nearly 20% of its supply is concentrated in this range, indicating a redistribution phase. However, a bearish technical pattern suggests a risk of falling to $53,500 if key resistance isn't reclaimed.
Hyperliquid's HYPE token has defied the crypto bear market, with open interest reaching $3 billion and a 32% weekly growth. The token rallied 44% in five days, hitting an all-time high near $77. The exchange's innovation in TradFi perpetuals, including SpaceX pre-IPO trading, is driving demand and institutional interest.
Bitcoin's price is showing signs of a potential rebound to $100,000 by September, driven by a developing double-bottom pattern and bullish divergence on its weekly chart. A break above $66,700 resistance is key, with a confirmed double-bottom suggesting a 60% upside. However, a bear flag pattern and increased whale inflows pose downside risks.
BitMine Immersion Technologies acquired 76,881 Ether last week, increasing its holdings to over 5.6 million ETH despite a market downturn. The company continues to stake over 4.1 million ETH to generate yield, aiming for 5% of the total circulating supply.
Bitcoin's recovery is linked to a potential US-Iran peace deal, with on-chain metrics showing weak momentum. Meanwhile, the CFTC has hired a former SEC crypto task force adviser, and MicroStrategy purchased 1,587 BTC, increasing its holdings to 846,842.
Bitcoin (BTC) shows signs of a potential double-bottom and bullish divergence, suggesting a rebound to $100,000 by September. A break above $66,700 resistance is key, with a confirmed double-bottom pattern potentially targeting $108,000. However, a bear flag pattern and increased whale inflows pose downside risks.
