By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin (BTC) has retraced to roughly where it was before Federal Reserve Chair Jerome Powell’s dovish remarks on Friday, which briefly sparked a rally in 0 and 1 reversal in BTC price has paused ether’s rally and triggered losses across the broader altcoin 2 CoinDesk 20 (CD 20) Index is down 3% on a 24-hour basis, while the broader CoinDesk 80 (CD 80) index has fallen 3.74% as of 3 Kuptsikevich, senior analyst at FxPro, noted that liquidity appears to be shifting from bitcoin into altcoins. “Bitcoin is trading at $112,000, having fallen to a low of $110,000—its weakest level since early July.
Friday’s surge attracted fresh sellers, pushing BTC below its 50-day moving 4 far, liquidity seems to be migrating from BTC to Ethereum and other altcoins like Solana. However, we cannot rule out that this is a precursor, with Bitcoin potentially starting a ‘sell-on-rise’ phase that may soon extend to altcoins,” Kuptsikevich said in an 5 to the narrative, blockchain analytics firm Lookonchain reported that a prominent bitcoin whale, who received 100,000 BTC a long while ago, began diversifying into ether over the weekend. Singapore-based QCP Capital chimed in with a longer-term perspective, stating, “Near term, BTC appears to be ceding momentum to ETH, but our structural outlook on Bitcoin remains 6 to July’s absorption of roughly 80,000 BTC of legacy supply, we expect institutions to continue buying dips selectively.” Highlighting institutional interest in dip buying, Tokyo-listed Metaplanet announced the acquisition of an additional 103 BTC, raising its holdings to 18,991 7 developments come on the heels of Japan’s Finance Minister endorsing regulated crypto assets as a legitimate diversification tool within broader 8 the derivatives front, the price swings since Friday have sparked notable activity.
Hyperliquid, an on-chain perpetual futures platform, announced hitting a new 24-hour all-time high spot volume of $3.4 billion, driven largely by rises in BTC and ETH 9 exchange now ranks as the second largest venue for spot BTC trading across centralized and decentralized exchanges, with $1.5 billion in 24-hour BTC volume 10 surge reflects the growing traction of specialized blockchain-based trading ecosystems. Meanwhile, in traditional markets, the 11 Index (DXY) edged up 0.22% to 97.94 following a near 1% decline on 12 prices remained flat, while European stocks and S&P 500 futures traded lower, indicating a measured degree of investor risk 13 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 14 Aug. 25, 3 p. m.: The Central Bank of Paraguay releases July producer price inflation 15 YoY Prev. 4.8% Aug. 26, 8:30 a. m.: The 16 Bureau releases July manufactured durable goods orders 17 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. 0.1% vs. Prev. 0.2% Aug. 26, 10 a. m.: The Conference Board (CB) releases August 18 confidence 19 Consumer Confidence Est. 98 vs. Prev. 97.2 Aug. 27: The 20 impose an additional 25% tariff on Indian imports related to Russian oil purchases, effectively raising total tariffs on many goods to approximately 50%.
Earnings (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 dYdx (DYDX) is voting on whether to approve a whitelist update to the VIP Affiliate 21 closes on Aug. 25. Aug. 25: Supra (SURPA) to host community call at 08:00. Unlocks Aug. 25: Venom (VENOM) to unlock 2.34% of its circulating supply worth $9.45 million. 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 22 Launches Aug. 25: Kek (KEK) to list on Poloniex. Aug. 25: DNA (DNA) to list on BitMart. Aug. 25: Cudis (CUDIS) to list on Gate. io.
Aug. 26: Centrifuge (CFG) to list on 23 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 24 is 25 code CDB10 for 10% off your registration through Aug. 31. Aug. 25-26: 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 Hyperliquid hit a new 24-hour spot volume ATH of $3.4B, powered by surging BTC and ETH deposits and trading via 26 spike positioned Hyperliquid as the second-largest venue for spot BTC trading, across both centralized and decentralized platforms, with $1.5B in BTC volume 27 volume milestones improve Hyperliquid’s appeal by proving its ability to handle institutional-scale order 28 platform’s architecture — built on HyperCore (Layer‑1 with HyperBFT consensus) and HyperEVM — delivers sub-second finality, high throughput, and EVM compatibility, making it highly attractive to both high-frequency traders and DeFi 29 growing volume, especially in BTC spot markets, strengthens Hyperliquid’s value proposition as a liquidity layer in DeFi, reinforcing its “AWS of liquidity” thesis driven by performance and infrastructure 30 growth complements its perpetuals dominance—where the platform already captures 60–70% of DEX market share, delivering more on-chain revenue than even 31 spot volume translates into real benefits for HYPE holders — its token benefits from regular buybacks funded by trading fee flows via its Assistance Fund, tying platform usage directly to long-term token 32 Positioning BTC and HYPE's global futures open interest have increased by 1% and 3%, respectively, in the past 24 hours, bucking the broader trend of outflows observed in other top 10 33 open interest in USD and USDT-denominated perpetual futures across leading exchanges such as Binance, Bybit, OKX, Deribit, and Hyperliquid remained flat on Friday despite the price rally.
However, since then, open interest has risen from approximately 260,000 contracts to 282,000, indicating a “sell on rally” sentiment among traders. (check chart of the day section). The opposite is the case in the ether market, where the OI ticked higher during Friday's rally and has retreated with the price 34 pattern suggests a temporary pause in bullish momentum rather than the establishment of new short positions, indicating a bullish breather rather than a shift toward bearish 35 of funding rates, except for ADA, most tokens see positive rates, indicating a net bias for bullish long 36 futures OI exploded by more than $9.2 billion in a single day on Friday, pushing the combined total tally to a new high of $61.7 billion.
"Such rapid inflows highlight how altcoins are increasingly driving leverage, volatility, and fragility across digital asset markets," Glassnode 37 the CME, open interest in ether options hit a notional record high of over $1 billion on 38 follows a record number of large holders in the futures market early this 39 futures OI hit a new high above 2 million 40 open interest in BTC options rose to $4.85 billion, the highest since April, as futures activity remained 41 Deribit, BTC options continued to show a bias for puts out to the December expiry, contradicting the post-Powell bullish sentiment in the 42 ether's case, calls traded at a slight 43 Movements BTC is down 4.45% from 4 44 Friday at $111,825.43 (24hrs: -2.63%) ETH is down 4.84% at $4,612.09 (24hrs: -2.89%) CoinDesk 20 is down 4.23% at 4,125.81 (24hrs: -2.93%) Ether CESR Composite Staking Rate is down 14 bps at 2.83% BTC funding rate is at 0.0096% (10.5525% annualized) on Binance DXY is up 0.19% at 97.90 Gold futures are down 0.28% at $3,408.80 Silver futures are down 0.88% at $38.71 Nikkei 225 closed up 0.41% at 42,807.82 Hang Seng closed up 1.94% at 25,829.91 FTSE is up 0.13% at 9,321.40 Euro Stoxx 50 is down 0.49% at 5,461.49 DJIA closed on Friday up 1.89% at 45,631.74 S&P 500 closed up 1.52% at 6,466.91 Nasdaq Composite closed up 1.88% at 21,496.54 S&P/TSX Composite closed up 0.99% at 28,333.13 S&P 40 Latin America closed up 2.87% at 2,737.36 U.
S. 10-Year Treasury rate is up 1.1 bps at 4.269% E-mini S&P 500 futures are down 0.23% at 6,468.50 E-mini Nasdaq-100 futures are down 0.32% at 23,495.25 E-mini Dow Jones Industrial Average Index down 0.21% at 45,619.00 Bitcoin Stats BTC Dominance: 58.21% (+0.45%) Ether-bitcoin ratio: 0.04123 (-2.07%) Hashrate (seven-day moving average): 954 EH/s Hashprice (spot): $54.38 Total fees: 3.478 BTC / $387,601 CME Futures Open Interest: 1453,320 BTC BTC priced in gold: 33.1 45 vs gold market cap: 9.36% Technical Analysis XRP currently trades within the Ichimoku cloud, suggesting uncertainty. A drop below the lower end of the cloud would signal a continuation of the broader 46 peaked at $3.65 last month with a tweezer top bearish candlestick 47 Equities Strategy (MSTR): closed on Friday at $358.13 (+6.09%), -3.76% at $344.65 in pre-market Coinbase Global (COIN): closed at $319.85 (+6.52%), -2.47% at $311.96 Circle (CRCL): closed at $135.04 (+2.46%), +0.19% at $135.30 Galaxy Digital (GLXY): closed at $25.57 (+7.03%), -4.5% at $24.42 Bullish (BLSH): closed at $70.82 (+1.46%), -4.08% at $67.93 MARA Holdings (MARA): closed at $16.29 (+5.03%), -4.05% at $15.63 Riot Platforms (RIOT): closed at $13.22 (+7.74%), -3.48% at $12.76 Core Scientific (CORZ): closed at $13.55 (-1.74%), -0.52% at $13.48 CleanSpark (CLSK): closed at $9.82 (+5.25%), -3.56% at $9.47 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $28.29 (+5.25%) Semler Scientific (SMLR): closed at $31.43 (+4.42%), -2.16% at $30.75 Exodus Movement (EXOD): closed at $27.33 (+4.51%) SharpLink Gaming (SBET): closed at $20.87 (+15.69%), -3.21% at $20.20 ETF Flows Spot BTC ETFs Daily net flows: -$23.2 million Cumulative net flows: $53.8 billion Total BTC holdings ~1.29 million Spot ETH ETFs Daily net flows: $337.7 million Cumulative net flows: $12.45 billion Total ETH holdings ~6.27 million): A whale’s $300 million bitcoin selloff briefly sent prices under $111,000, erasing Powell-fueled 48 data shows puts costing more than calls as traders brace for further 49 Congressman Proposes Bitcoin Reserve to Attack National Debt (CoinDesk): The bill requires the central bank to amass 10,000 BTC over five years, locked for two decades and usable only to reduce national debt, with sales capped at 10% every two years.
Japan's Finance Minister Says Crypto Assets Can be Part of Diversified Portfolio (CoinDesk): Katsunobu Katō's remark, made Monday while speaking at an event in Tokyo, comes amid concerns over Japan's high debt-to-GDP ratio and the potential for financial repression and yen 50 Bitcoin Treasury Companies Are a Fool’s Paradise (Financial Times): Although such firms offer advantages over holding bitcoin directly — especially in jurisdictions where regulatory obstacles prevent this — their leveraged strategy could backfire badly when the bull market 51 Basis Premium Hints at Weakening Appetite for Treasuries (Bloomberg): The dollar’s premium in FX derivatives markets has nearly disappeared for the first time in five years, with foreign investors now holding only a third of Treasuries versus around half in 2012.5 Years On, China’s Property Crisis Has No End in Sight (The New York Times): Today's delisting of China Evergrande underscores the property sector’s unraveling, yet Beijing avoids a sweeping bailout, wary of repeating its 2015 debt-fueled rescue, even as prices sink, vacancies swell and smaller firms 52 the Ether
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