By Omkar Godbole (All times ET unless indicated otherwise) The sell-off in the cryptocurrency market deepened over the past 24 hours, with bitcoin (BTC) falling below $109,000 for the first time since July 9 and ether (ETH) posting a 13% correction from the record high of around $4,950 it hit just two days 0 CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indices have dropped 2% and 3.3%, respectively, indicating larger losses in the broader altcoin 1 downside volatility toasted leveraged futures bets worth over $900 million, with long positions accounting for the majority of the 2 slide kicked off on Sunday, when a whale sold 25,000 BTC in an illiquid market, sparking a flash 3 theories have been proposed to explain the whale's strategy, the most prominent being that they intentionally removed the bid wall — or block of buy orders — assuming that institutions would buy more through ETFs during the week, thereby lifting prices.
"This whale is showing us something bigger, they know the ETF/sovereign bid is 4 the only way to win is to force weak hands to puke and then accumulate back into the structural wall," pseudonymous observer SightBringer said on 5 to MEXC Ventures, BTC is now at an inflexion 6 could enter a period of consolidation between $110,000 and $120,000 or break lower toward $105,000 to $100,000. "The absence of a fresh macro catalyst, such as a dovish Fed policy pivot, rate cuts, or renewed inflows, is likely to drive BTC into a period of market consolidation as the market digests the recent distribution," MEXC's Investment Director Leo Zhao said in an email.
Similarly, the consensus remains bullish on ether. However, the sharp decline from Sunday's record suggests a sustained breakout to new highs will probably require a significant catalyst beyond just corporate treasury adoption. XRP, meanwhile, lacks a clear directional trend. "With Bollinger Bands constricting and RSI sitting at a neutral 44, but thin on buying volume, the chart is whispering of a potential retest of $2.60 to $2.00," Ryan Lee, the chief analyst at Bitget said.
"A break above the $3.10 level with conviction and volume, and a run toward $3.40 could 7 derivative markets are skewed short, and upside stays guarded until momentum firms." In traditional markets, the Treasury yield curve, represented by the spread between 10- and two-year yields and 30- and two-year yields, continues to steepen as traders bet on a September Fed rate cut. meanwhile, longer-duration Japanese government bond yields are on the verge of hitting new multidecade highs, which could potentially inject volatility into global financial 8 alert! What to Watch Crypto Aug. 27, 3 a. m.: Mantle Network (MNT), an Ethereum layer-2 blockchain, will roll out its mainnet upgrade to version 1.3.1, enabling support for Ethereum’s Prague update and introducing new features for platform users and 9 Aug. 26, 8:30 a.
m.: The 10 Bureau releases July manufactured durable goods orders 11 Goods Orders MoM Est. -4% vs. Prev. -9.3% Durable Goods Orders Ex Defense MoM Prev. -9.4% Durable Goods Orders Ex Transportation MoM Est. 0.2% vs. Prev. 0.2% Aug. 26, 10 a. m.: The Conference Board (CB) releases August 12 confidence 13 Consumer Confidence Est. 96.4 vs.
Prev. 97.2 Aug. 27: The 14 impose an additional 25% tariff on Indian imports related to Russian oil purchases, raising total tariffs on many goods to about 50%. Aug. 28, 8 a. m.: Mexico's National Institute of Statistics and Geography releases July unemployment rate 15 Rate Est. 2.9% vs. Prev. 2.7% Aug. 28, 8:30 a.
m.: The 16 of Economic Analysis (BEA) releases (2nd Estimate) Q2 GDP 17 PCE Prices QoQ st. 2.6% vs. Prev. 3.5% GDP Growth Rate QoQ Est. 3.1% vs. Prev. -0.5% GDP Price Index QoQ Est. 2% vs. Prev. 3.8% GDP Sales QoQEst. 6.3% vs.
Prev. -3.1% PCE Prices QoQ Est. 2.1% vs. Prev. 3.7% Real Consumer Spending QoQ Est. 1.4% vs. Prev. 0.5% Aug. 28, 1:30 p. m.: Uruguay's National Statistics Institute releases July unemployment rate 18 Rate Prev. 7.3% Aug. 28, 6:00 p.
m.: Fed Governor Christopher 19 will speak on “Payments” at the Economic Club of Miami Dinner, Miami, 20 21 (Estimates based on FactSet data) Aug. 27: NVIDIA (NVDA), post-market, $1.00 Aug. 28: IREN ( IREN ), post-market, $0.18 Token Events Governance votes & calls IOTA (IOTA) is voting on whether to "go all-in IOTA infrastructure and growth with Tangle DAO." Voting closes 22 (IOTX) is voting on whether to introduce slashing for underperforming IoTeX 23 closes Aug. 26. Aug. 26: Zebec Network (ZBCN) to host ask me anything with World Mobile at 10 a. m. Aug. 26: Solana (SOL) to host Solana Live at 4.30 24 Aug. 28: Jupiter (JUP) to unlock 1.78% of its circulating supply worth $26.36 million.
Sep. 1: Sui (SUI) to release 1.25% of its circulating supply worth $153.1 million. Sep. 2: Ethena (ENA) to release 0.64% of its circulating supply worth $25.64 25 Launches Aug. 26: Centrifuge (CFG) to list on Bybit and Bitrue. Aug. 26: 26 (TOWN) to list on 27 and 28 The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory 29 is 30 code CDB10 for 10% off your registration through Aug. 31. Aug. 26: WebX 2025 (Tokyo) Aug. 27: Blockchain Leaders Summit 2025 (Tokyo) Aug. 27-28: Stablecoin Conference 2025 (Mexico City) Aug. 28-29: Bitcoin Asia 2025 (Hong Kong) Token Talk By Shaurya Malwa Blue-chip NFT collections faced steep weekly losses as ether (ETH) pulled back from record highs, wiping more than 10% off the value of most top 31 Penguins , the leading collection by trading volume, dropped 17% to a 10.32 ETH floor, showing that even the sector’s strongest liquidity magnet couldn’t escape the 32 Ape Yacht Club (BAYC) lost 14.7% to 9.59 ETH, while Doodles recorded one of the sharpest corrections, falling 18.9% to 0.73 33 projects also slumped: Moonbirds fell 10.5%, and Lil Pudgys shed 14.6%, reflecting how price pressure cascaded across both flagship and derivative 34 proved most resilient, losing just 1.35% over the week, underscoring its status as the market’s defensive benchmark when risk appetite 35 lower floors, trading activity stayed 36 Penguins saw 2,112 ETH ($9.36 million) in weekly volume, followed by Moonbirds (1,979 ETH), CryptoPunks (1,879 ETH), and BAYC (809 ETH).
Overall NFT market capitalization shrank nearly 5% to $7.7 billion, down from a $9.3 billion peak on 37 $1.6 billion drawdown highlights how quickly capital flees when ETH 38 sharp contrast between resilient CryptoPunks and sliding newer collections strengthens its appeal as a collateral 39 liquidity holds up even as broader NFT floors 40 investors, the sell-off signals that NFT blue chips remain high-beta ETH proxies, with only legacy projects like CryptoPunks showing the defensive value that makes them the safer long-term institutional 41 Positioning Leveraged crypto bulls have been burned, with futures bets worth $940 million liquidated in the past 24 42 than $800 million were long positions betting on price 43 alone accounted for $320 million in liquidations.
Still, overall open interest (OI) in BTC remains elevated near lifetime highs above 740K 44 ether's case, the OI has pulled back to 14 million ETH from 14.60 million 45 in SOL, XRP, DOGE, ADA, and LINK also dropped in the past 24 hours, indicating net capital 46 the price volatility, funding rates for most major tokens, excluding SHIB, ADA and SOL, remains positive to suggest dominance of bullish long 47 in the CME-listed standard BTC futures has fallen back to 137.3K from 145.2K, reversing the minor bounce from early this 48 shows that institutional interest in trading these regulated derivatives remains 49 in options, however, has continued to increase, reaching its highest since late May, CME's ether futures OI remains elevated at 2.05 million ETH, just shy of the record 2.15 million ETH on Aug. 22.
Meanwhile, OI in ether options is now at its highest since September last 50 Deribit, the impending multibillion-dollar expiry on Friday shows a bias towards BTC puts, indicative of concerns prices are set to drop 51 impending ether expiry paints a more balanced 52 on the OTC desk at Paradigm have been mixed, featuring strategies such as outright put buying and put spreads in BTC, as well as calls and risk reversals in 53 Movements BTC is up 0.55% from 4 54 Monday at $111,825.43 (24hrs: -0.66%) ETH is up 1.55% at $4,420.50(24hrs: -2.56%) CoinDesk 20 is up 1.45% at 4,003.25 (24hrs: -2.14%) Ether CESR Composite Staking Rate is up 12 bps at 2.95% BTC funding rate is at 0.0038% (4.1194% annualized) on Binance DXY is down 0.11% at 98.32 Gold futures are unchanged at $3,419.60 Silver futures are down 0.36% at $38.56 Nikkei 225 closed down 0.97% at 42,394.40 Hang Seng closed down 1.18% at 25,524.92 FTSE is down 0.61% at 9,264.86 Euro Stoxx 50 is down 0.87% at 5,396.84 DJIA closed on Monday down 0.77% at 45,282.47 S&P 500 closed down 0.43% at 6,439.32 Nasdaq Composite closed down 0.22% at 21,449.29 S&P/TSX Composite closed down 0.58% at 28,169.94 S&P 40 Latin America closed down 0.38% at 2,727.04 U.
S. 10-Year Treasury rate is up 2.5 bps at 4.30% E-mini S&P 500 futures are down 0.12% at 6,447.75 E-mini Nasdaq-100 futures are down 0.13% at 23,468.75 E-mini Dow Jones Industrial Average Index are down 0.13% at 45,293.00 Bitcoin Stats BTC Dominance: 58.6% (-0.33%) Ether-bitcoin ratio: 0.04007 (0.79%) Hashrate (seven-day moving average): 944 EH/s Hashprice (spot): $53.67 Total fees: 2.85 BTC / $318,222 CME Futures Open Interest: 137,315 BTC BTC priced in gold: 32.6 55 vs gold market cap: 9.27% Technical Analysis BTC's recent breakdown of the ascending channel and a horizontal support line (right) looks quite similar to the bearish turnaround from $110,000 from early this 56 latest move could invite stronger selling pressure, potentially yielding a deeper pullback as seen in March and early 57 Equities Strategy (MSTR): closed on Monday at $343.2 (-4.17%), unchanged in pre-market Coinbase Global (COIN): closed at $306 (-4.33%), +0.49% at $307.49 Circle (CRCL): closed at $125.24 (-7.26%), unchanged in pre-market Galaxy Digital (GLXY): closed at $24.55 (-3.99%), -0.45% at $24.44 Bullish (BLSH): closed at $65.18 (-7.96%), -1.20% at $64.40 MARA Holdings (MARA): closed at $15.4 (-5.46%), -0.32% at $15.35 Riot Platforms (RIOT): closed at $13.28 (+0.45%), -1.28% at $13.11 Core Scientific (CORZ): closed at $13.68 (+0.96%), -0.44% at $13.62 CleanSpark (CLSK): closed at $9.45 (-3.77%), unchanged in pre-market CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $28.61 (+1.13%), -0.63% at $28.43 Semler Scientific (SMLR): closed at $30.02 (-4.49%) Exodus Movement (EXOD): closed at $26.26 (-3.92%), unchanged in pre-market SharpLink Gaming (SBET): closed at $19.17 (-8.15%), +0.78% at $19.32 ETF Flows Spot BTC ETFs Daily net flows: $219.1 million Cumulative net flows: $54 billion Total BTC holdings ~1.29 million Spot ETH ETFs Daily net flows: $443.9 million Cumulative net flows: $12.89 billion Total ETH holdings ~6.34 million): On Deribit, Friday’s expiry shows traders piling into bitcoin puts around $110,000 for protection from declines, while ether positions look more evenly split between bullish and bearish 58 Suffers Technical Setback, Loses 100-Day Average as XRP, ETH and SOL Hold Ground (CoinDesk): Bitcoin faces a bearish outlook after losing key support, with XRP stuck in uncertainty, while ETH and SOL maintain stronger footing that could let them outperform BTC and XRP in risk-on 59 Bettors Doubt Trump Can Topple Jerome Powell or Lisa Cook This Year (CoinDesk): The decentralized crypto-based prediction market sees only a 10% chance of Powell exiting before his term ends in May 2026 and a 27% chance that Cook departs her post this year. ‘Powerful Optics’: China’s Xi To Welcome Putin, Modi in Grand Show of Solidarity (Reuters): Although the Shanghai Cooperation Organization has brought little economic cooperation, analysts say next week’s summit gives China a stage to parade Global South solidarity against the 60 geopolitical 61 Thiel-Backed Crypto Exchange Bitpanda Rules Out 62 (Financial Times): Co-founder Eric Demuth said Bitpanda ruled out a London IPO, citing thin share liquidity on the LSE and the fact it earns more in mainland Europe than the 63 Cook Says She Will Not Step Down From the Fed (The New York Times): Trump cited unproven mortgage-fraud allegations to justify firing the Fed 64 lawyer called the move unlawful and warned it could undermine the central bank’s 65 the Ether
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