L’Hebdo Crypto is brought to you by the 25% Club. The week of 08/24 in brief.
Bitcoin crossed $80,000 on the night of August 24 to 25, a first since May, before falling back below. The SEC has sent its overhaul of crypto custody rules to the White House, the content of which remains confidential. In France, INSEE reduced second quarter growth to zero.
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Crypto news in brief
▶ Bitcoin crosses $80,000 for the first time since May. The threshold fell during the night of August 24 to 25, after three days spent circling around it without crossing it. The short squeeze ignited the previous Friday did the rest, with more than $240 million in short positions liquidated in an hour. The price has since returned below this level.
▶ Bitcoin: $83,000, key level to confirm the recovery? CryptoQuant is waiting for a close above the 365-day moving average, located around $83,000, to signal the end of the bearish cycle. Glassnode arrives at the same area by another method, between $81,000 and $86,000. U.S. spot ETFs saw $2.23 billion in net inflows on the streak.
▶ HYPE explodes: the best cryptocurrency of 2026?. The Hyperliquid token sets a new record above $84, after three months of consolidation below 77. Meanwhile, Bitcoin remains 36.26% below its last peak.
▶ The SEC sends its overhaul of crypto custody rules to the White House, without revealing their content. The text must specify the rules applicable to the conservation of clients' cryptos and the conditions under which the actors will be able to ensure their custody. Sent on August 25 to the White House office responsible for examining draft federal regulations, the proposal remains confidential. The Gensler-era plan, which required a qualified custodian and prohibited lending of assets, had been abandoned.
▶ Revolut launches its euro stablecoin: 5 points to understand everything about EURR. A euro stablecoin is coming to a mainstream application, with a limited rollout in Denmark, Poland and Portugal to start. French customers will wait their turn. The legal issuer is called Bridge, a company owned by Stripe, approved in Luxembourg.
▶ Japanese stock market and debt: Japan wants to move to blockchain. Tokyo wants to settle stocks and government bonds in real time, with a complete plan expected in early 2027 and implementation targeted for the early 2030s. 4 of the largest Japanese banks have already been testing the use of government bonds as collateral on blockchain since April.
▶ France on the verge of recession: INSEE erases growth. The second quarter goes from +0.2% to 0.0%, while the first quarter growth is revised to -0.2%. Exports save furniture with +2.9%, driven in particular by aeronautics. Without this contribution, GDP would have declined in the second quarter.
▶ PEA reform: The government renounces excluding synthetic ETFs, S&P 500 and MSCI World remain accessible. The concern came from a letter from the General Directorate of the Treasury sent at the end of July to professional organizations. The government is refusing to propose their exclusion. Synthetic ETFs remain accessible in the PEA, subject to the final text of the 2027 budget.
The news of the week in figures
➤ $950 billion is the balance in the US Treasury account at the Fed, which Washington could draw on to increase its long-term debt buybacks.
➤ $80 billion is the market capitalization evaporated by companies that adopted a Bitcoin treasury strategy.
➤ $96.2 billion in turnover for Nvidia, doubling over one year.
➤ $667,000 is the amount stolen during two home-jackings committed in France in April, the trail of which leads to an individual identified by ZachXBT under the pseudonym M1llionz. Tether froze 93,507 USDT.
Video of the week
Bitcoin aims higher, Ethereum leads the tempo. Cara devotes her weekly analysis to the renewed strength of the market. The capitalization of altcoins outside the Top 10 is still stuck on a bearish slant, while their bitcoin pairs are holding above their August lows and forming ascending lows. The market is showing several signs of accumulation, without having crossed its main resistances.
Have a good week on the Journal du Coin.
