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Strategy, Strive and BitMine Buy 6,403 BTC and 53,501 ETH
Strategy, Strive and BitMine expanded their cryptocurrency reserves in the final week of August. Strategy and Strive purchased a combined 6,403 BTC, while BitMine added 53,501 ETH to its Ethereum portfolio.Strategy and Strive spent a total of $512.7 million on their Bitcoin purchases. BitMine’s latest ETH acquisition was worth approximately $134 million based on the price cited in its announcement.The latest disclosures show that publicly traded crypto treasury companies have returned to buying. Strategy also combined its purchase with common stock sales, cash management and STRC share repurchases.Strategy bought Bitcoin after a 10-week pauseAccording to figures disclosed by Strategy, the company purchased 4,603 BTC for $369.7 million between August 24 and August 30. The average purchase price was $80,318 per Bitcoin, including fees and expenses.The transaction marked Strategy’s first Bitcoin purchase in approximately 10 weeks. Its total holdings consequently increased to 845,050 BTC.The company’s Bitcoin portfolio has an aggregate purchase cost of $63.73 billion. Its average purchase price across the entire portfolio stands at $75,412 per Bitcoin.Strategy funded the purchase through sales of its Class A MSTR common stock. The company sold 4.53 million MSTR shares during the week, generating net proceeds of $602.8 million.It allocated $369.7 million of the proceeds to the Bitcoin purchase. Strategy also repurchased 1.56 million STRC preferred shares for $151.8 million.Another $50.7 million funded STRC dividend payments. The company transferred the remaining $30 million to its more flexible USD Cash account.Strategy’s USD Cash balance increased to $1.61 billion. Its USD Reserve, which supports preferred stock dividends and debt interest payments, remained at $5.1 billion.Strive purchased 1,800 BTCStrive announced that it purchased 1,800 BTC for $143 million during the same week. The average purchase price was $79,431 per Bitcoin, including fees and expenses.According to figures shared by Strive CEO Matt Cole, the company’s total Bitcoin holdings increased from 21,356 BTC to 23,156 BTC. Strive therefore expanded its reserves by approximately 8.4 percent in one week.The latest acquisition strengthened Strive’s position among the largest publicly traded corporate Bitcoin holders. The company ranks sixth in the Bitcoin Treasuries list with 23,156 BTC. Strategy and Strive added a combined 6,403 BTC to their reserves through their latest purchases. The two companies spent a total of $512.7 million on the transactions.BitMine added 53,501 ETHBitMine also expanded its Ethereum reserves during the same period. The company announced that it purchased 53,501 ETH last week.According to BitMine’s weekly update, its total holdings reached 5,901,112 ETH. This amount represents approximately 4.9 percent of Ethereum’s circulating supply.BitMine has now completed 98 percent of its goal to acquire 5 percent of the Ethereum supply. The company has also purchased ETH for 65 consecutive weeks since launching its treasury strategy in June 2025.BitMine currently uses 5.07 million ETH in staking systems. This amount represents approximately 86 percent of its total Ethereum reserves.The combined value of the company’s crypto assets, cash, marketable securities and other investments reached $15.6 billion. Its portfolio also includes 211 BTC and $541 million in cash and marketable securities.Share sales will also remain in focusThe three announcements show that corporate cryptocurrency purchases accelerated at the end of August. Strategy and Strive remain focused on Bitcoin, while BitMine continues accumulating Ethereum and generating staking income.However, the funding sources behind these purchases remain important. Common stock sales can create dilution for existing shareholders even when a company’s total crypto reserves grow.Investors may therefore need to look beyond the total amount of BTC or ETH held. Crypto assets per share, cash reserves and financing costs will also influence the performance of these companies.
Crypto Week Ahead: 25 Events to Watch as U.S. Jobs Data Takes Center Stage
Bitcoin started the Aug. 31-Sept. 6 week at around $77,900. Expectations that the Federal Reserve could raise interest rates in September and escalating tensions in the Middle East pushed the market into a more cautious mood following last week’s gains. The main focus of the week will be the U.S. employment report due Friday. On the crypto side, Russia’s new law, Mina’s Mesa upgrade, delisting decisions from Binance and BitMEX, and supply developments involving SUI, EIGEN, ENA and HYPE will be closely watched.U.S. employment data could reshape Fed expectationsFed Chair Kevin Warsh’s Jackson Hole speech pushed the probability of a September interest rate hike to around 60%. Warsh said inflation remained high and further tightening could be needed to restore price stability.The first major test of this pricing will arrive on Tuesday, Sept. 1. The U.S. Bureau of Labor Statistics will release July’s JOLTS job openings data at 5:00 p.m. Turkey time.The market expects the number of job openings to remain near 7.4 million. The ISM manufacturing PMI, scheduled for release at the same time, is expected to come in at 55.1.The ADP private-sector employment report will be released on Wednesday, Sept. 2, at 3:15 p.m. Turkey time. ADP’s official calendar confirms the date, while market expectations point to an increase of 45,000 jobs.The Fed will also publish its Beige Book report on Wednesday at 9:00 p.m. Turkey time. The report will offer insight into employment, wages, prices and how businesses assess the economic outlook.Weekly initial jobless claims will be released on Thursday at 3:30 p.m. Turkey time. Economists expect 205,000 applications, compared with the previous reading of 203,000.The ISM services PMI will follow at 5:00 p.m. Turkey time. The index is expected to rise from 54.1 to 54.4.The strongest market reaction of the week could form around Friday’s nonfarm payrolls report, scheduled for 3:30 p.m. Turkey time. According to the BLS calendar, the report will cover employment and wage changes in August.The market expects the U.S. economy to have added 50,000 jobs. Employment declined by 23,000 in July.The unemployment rate is expected to remain at 4.1%. Average hourly earnings are forecast to increase by 0.2% monthly and 3% annually.Strong employment and wage figures could increase the likelihood of a rate hike at the Sept. 15-16 FOMC meeting. A weaker result could strengthen expectations that the Fed will remain on hold despite Warsh’s inflation warnings.Russia’s sweeping crypto law takes effectRussia’s new regulations for the digital currency market will take effect on Sept. 1. According to the Central Bank of Russia, both qualified and non-qualified investors will be able to trade cryptocurrencies through licensed intermediaries.Annual purchases by non-qualified investors will be limited to 300,000 rubles at each intermediary. These users will also have to pass a suitability test before trading.Qualified investors will also be subject to testing, although they will not face limits on assets or transaction amounts. The regulation brings foreign stablecoins under Russia’s cryptocurrency rules as well.Licensed crypto exchanges and digital asset custodians will operate under the new system. The law does not allow cryptocurrencies to be used for payments for goods and services within Russia.Exporters and importers will be able to use cryptocurrencies for cross-border payments. Existing companies have until July 1, 2027, to obtain licenses and bring their operations into compliance with the new rules.Eurozone inflation and oil prices in focusEurostat will release the eurozone’s preliminary August inflation data on Tuesday, Sept. 1, at noon Turkey time. Eurostat’s previous report put July inflation at 2.9%.Market forecasts for August are concentrated between 3.2% and 3.3%. Rising energy costs are expected to be the main factor pushing headline inflation higher.Brent crude rose by more than 2% on Monday, approaching $90.60. U.S. attacks on Iran and Tehran’s response renewed concerns over global supplies.Persistently high oil prices could increase interest rate pressure on the Fed and the European Central Bank. This environment may affect risk assets, including Bitcoin, through the U.S. dollar and government bond yields.The meeting of G20 finance ministers and central bank governors is also taking place in Asheville from Aug. 31 to Sept. 1. According to the U.S. Treasury’s program, the agenda includes global growth, trade imbalances, inflation, public debt and the war with Iran.Mina network to activate Mesa upgradeMina Protocol will conduct its Mesa mainnet upgrade on Thursday, Sept. 3. According to the project’s detailed migration schedule, the network will stop accepting transactions at 1:00 p.m. Turkey time.Block production is expected to pause temporarily at 6:00 p.m. The Mesa package will be released at 7:30 p.m., with the first Mesa block expected at 9:00 p.m.Mesa will increase zkApp capacity and shorten block intervals. The upgrade will also introduce an automatic upgrade mechanism designed to simplify future protocol transitions.Existing zkApps will need to update their verification keys using o1js 3.0. Exchanges may suspend MINA deposits and withdrawals while the network is offline.The Mina team will make its final “proceed or postpone” decision on Aug. 31. If an insufficient number of validators upgrade to the required version, the project may set a new date.Zilliqa is also expected to conduct a block-height-based hard fork on Sept. 2. The estimated activation time is 3:58 p.m. Turkey time, although this could change depending on the speed of block production.The update aims to transfer some older wallet balances frozen due to a security issue in the Ledger application to new addresses. Zilliqa’s incident page shows that transactions on the legacy network have been temporarily suspended.Binance and BitMEX to implement delistingsBitMEX will delist 11 perpetual futures contracts on Wednesday, Sept. 2, at 3:00 p.m. Turkey time. The exchange will close open contracts through early settlement at the same time.BitMEX’s announcement shows that the decision applies only to derivatives contracts. Users should review the automatic settlement conditions and reference price calculations.Binance will end spot trading for ICON, Secret and Storj on Thursday, Sept. 3, at 6:00 a.m. Turkey time. According to the official announcement, all spot pairs involving ICX, SCRT and STORJ will be removed.Open spot orders involving these assets will be canceled at the same time. Binance will stop crediting deposits made after 6:00 a.m. Turkey time on Sept. 4.Withdrawals will remain available until 6:00 a.m. Turkey time on Nov. 3. The exchange said it may convert any remaining tokens into stablecoins after the deadline, although the conversion is not guaranteed.ENA, SUI, EIGEN and HYPE supply set to expandSept. 1 stands out as the busiest day on this week’s token calendar. All dollar figures are approximate because their values will change with spot prices.Sui will unlock approximately 13.53 million SUI on Sept. 1. The increase represents 0.33% of the circulating supply and is worth around $9.6 million at current prices.EigenCloud will release 36.82 million EIGEN on the same day. The tokens are worth approximately $6.9 million and represent 5.48% of the circulating supply.Ethena’s broader tracked supply schedule includes 275 million ENA. According to Tokenomics.com, the allocation is worth around $40.4 million and covers distributions to investors, the team, the community and the foundation.IOTA will make 12.37 million tokens available for circulation on Sept. 2. The current unlock schedule shows that the tokens, worth approximately $500,000, will be distributed among the IOTA DLT Foundation, the IOTA Foundation and the Tangle Ecosystem Association.The week’s largest potential supply event by dollar value will take place on Hyperliquid. Approximately 9.92 million HYPE will be unlocked on Sept. 6 under the monthly allocation schedule for core contributors.Based on a HYPE price of around $80.60, the scheduled amount is worth nearly $800 million. However, the full amount is not expected to be transferred on the same day.In previous months, there was a large gap between the amount of vested HYPE and the number of tokens actually claimed. The amount reaching the market could therefore remain well below the theoretical value of approximately $800 million.NFT.NYC and Solana events to beginNFT.NYC will take place at the Edison Ballroom in New York from Sept. 1 to Sept. 3. According to the event’s official website, the program is divided into 12 categories, including digital art, gaming, infrastructure, brands and on-chain finance.Solana Startup Village will be held in Amsterdam from Aug. 31 to Sept. 5. The first three days of the program will feature workshops focused on DeFi, security and privacy.The Common S3nse conference and hackathon will take place on Sept. 4 and Sept. 5 as part of Cypherpunk Week in Amsterdam. The event will focus on privacy technologies and decentralized infrastructure.There are no confirmed large-scale earnings reports from crypto companies or high-profile token launches scheduled for the week. U.S. economic data, oil prices, Russia’s regulations and the supply schedules of existing tokens will therefore carry greater weight.This week’s 25-event crypto calendarAug. 31-Sept. 1: G20 finance ministers and central bank governors meetingAug. 31-Sept. 5: Solana Startup Village AmsterdamSept. 1: Russia’s sweeping crypto law takes effectSept. 1, 3:00 a.m. Turkey time: SUI token unlockSept. 1: EIGEN token unlockSept. 1: ENA supply eventSept. 1, noon Turkey time: Eurozone preliminary August inflationSept. 1-3: NFT.NYC 2026Sept. 1, 5:00 p.m. Turkey time: U.S. JOLTS job openingsSept. 1, 5:00 p.m. Turkey time: U.S. ISM manufacturing PMISept. 2, 3:15 p.m. Turkey time: U.S. ADP private-sector employmentSept. 2: IOTA token unlockSept. 2, 3:00 p.m. Turkey time: BitMEX delists 11 perpetual futures contractsSept. 2, around 3:58 p.m. Turkey time: Zilliqa hard forkSept. 2, 5:00 p.m. Turkey time: U.S. factory ordersSept. 2, 9:00 p.m. Turkey time: Fed Beige BookSept. 3, 6:00 a.m. Turkey time: Binance ends trading for ICX, SCRT and STORJSept. 3, 1:00-9:00 p.m. Turkey time: Mina Mesa mainnet upgradeSept. 3, 3:30 p.m. Turkey time: U.S. weekly initial jobless claimsSept. 3, 3:30 p.m. Turkey time: U.S. July trade balanceSept. 3, 3:30 p.m. Turkey time: Fed Governor Christopher Waller speaksSept. 3, 5:00 p.m. Turkey time: U.S. ISM services PMISept. 4, 3:30 p.m. Turkey time: U.S. nonfarm payrolls, unemployment and wage dataSept. 4-5: Common S3nse conference and hackathonSept. 6: Planned unlock of approximately 9.92 million HYPE
Bitcoin Holds Near $80K Ahead of Warsh’s Jackson Hole Speech
Bitcoin is holding near the $80,000 mark ahead of Federal Reserve Chair Kevin Warsh’s first Jackson Hole speech. The altcoin market is also trading higher, led by a strong rally in Solana.Warsh will speak on Friday, August 28, at 10 a.m. ET. Markets will watch his comments on interest rates and the Fed’s approach to the Treasury market.The speech comes after the U.S. Treasury expanded its long-term bond-buyback program. The Fed’s response could affect crypto prices through movements in the dollar and Treasury yields.Why Warsh’s speech matters for BitcoinAccording to the Federal Reserve’s official calendar, Warsh will deliver keynote remarks at the Jackson Hole Economic Policy Symposium. This will be his first Jackson Hole speech since becoming Fed Chair in May.Markets expect Warsh to provide signals about the future path of interest rates. His comments on balance sheet policy and long-term Treasury yields could prove more significant.The U.S. Treasury announced an expansion of its long-term bond buybacks on August 19. The decision came as the 30-year Treasury yield approached its highest level since 2007.According to the Treasury Department, the maximum size of each operation will rise from $2 billion to at least $4 billion. The higher amounts will apply from September 9 through November 4.The program covers nominal coupon securities in the 10-to-20-year and 20-to-30-year maturity sectors. The Treasury aims to improve market liquidity for older and less actively traded securities.Treasury buybacks are separate from QETreasury buybacks do not directly represent quantitative easing. The program does not expand the Fed’s balance sheet or create new central bank reserves.Investors still interpreted the decision as an attempt to limit long-term borrowing costs. Expectations strengthened around the possibility that the Fed could eventually support the bond market.Fidelity Director of Global Macro Jurrien Timmer said markets were beginning to price in the risk of fiscal dominance. He argued that the Treasury may need to expand the program further to keep yields under control.Such a scenario could increase pressure on the Fed to support the operations. Timmer said this development would likely weaken the dollar while supporting gold and Bitcoin.Bitcoin trades close to $80,000Bitcoin was trading at around $79,979 at the time of writing. BTC gained 1.42% over the previous 24 hours and 6.09% over seven days.Bitcoin’s market capitalization exceeded $1.6 trillion. Its daily trading volume stood at approximately $37.9 billion.Demand for spot Bitcoin ETFs also supported the price. Market data showed that U.S. funds recorded $2.8 billion in net inflows across eight consecutive trading sessions.Bitcoin climbed as high as $81,280 during overnight trading. Profit-taking ahead of Warsh’s speech later pulled the price back toward $80,000.Solana leads the altcoin marketSolana recorded the strongest move among major altcoins. SOL gained 6.40% in 24 hours to trade at $107.64.Solana’s seven-day gain reached 19.61%. HYPE traded at $83.31 after rising 14.56% over the same period.XRP advanced 1.52% to $1.43. The token gained 9.59% during the past seven days. BNB traded at $712.65, while Ethereum changed hands near $2,501. BNB gained 6.71% for the week, compared with Ethereum’s 5.67% increase.Dogecoin rose 1.44% to approximately $0.088. Zcash stood out among major altcoins with a weekly gain of 32.51%.Warsh’s remarks could create two market scenariosWarsh could weaken market expectations by describing the Treasury buybacks as routine liquidity operations. A clear statement ruling out Fed participation may push the dollar and long-term yields higher.Under this scenario, profit-taking around Bitcoin’s $80,000 level could accelerate. Altcoins may experience larger price swings because of their higher volatility.Leaving room for possible coordination with the Treasury would create a different outlook. Expectations for lower yields and a weaker dollar could extend Bitcoin’s rally.BNY analysts do not expect Warsh to offer direct forward guidance. They believe his speech may focus on the Fed’s reform agenda and balance sheet policy.
Bitcoin and Ethereum Outline Two Separate Quantum Protection Plans
Bitcoin and Ethereum researchers have introduced separate proposals addressing the risks posed by quantum computers. Bitcoin’s SHRINCS system offers quantum-resistant signatures while limiting the loss of network capacity.The Ethereum draft would allow validators to deposit funds using quantum-resistant keys. The network could eventually stop accepting new validators using the existing BLS format.Both projects remain at an early stage. They require technical reviews and community support before either network can adopt them.SHRINCS proposed for Bitcoin transactionsBlockstream researchers Jonas Nick and Mikhail Kudinov published the SHRINCS proposal on August 27. The system aims to protect Bitcoin transactions against quantum attacks.Bitcoin uses digital signatures based on elliptic-curve cryptography to prove ownership. Users can spend their bitcoin without revealing their private keys.A sufficiently powerful quantum computer could break this protection using Shor’s algorithm. An attacker could calculate a private key from a public key visible onchain.The attacker could then forge a signature and transfer the bitcoin to another address. The risk primarily concerns addresses whose public keys have already appeared on the blockchain.Older address formats and wallets that have previously made transactions fall into this category. The estimated 1.1 million BTC associated with Satoshi Nakamoto may also face this risk.SHRINCS limits the loss of network capacityLarge data requirements create one of the main problems for quantum-resistant signatures. Some systems standardized by the U.S. National Institute of Standards and Technology are dozens of times larger than current Bitcoin signatures.Larger signatures leave less room for transactions inside Bitcoin blocks. This reduces the number of transfers the network can process each second.Blockstream estimates Bitcoin could process about 6.5 transactions per second using only Schnorr signatures. That figure could fall to 0.36 transactions with the NIST-standardized SLH-DSA system.SHRINCS aims to keep capacity at approximately three transactions per second. Its signatures start at 324 bytes and grow by around 16 bytes with each key use.The proposal’s 580-byte configuration can support roughly three transactions per second. Bitcoin’s existing Schnorr signatures are 64 bytes.Although SHRINCS signatures start at about five times the size, they do not consume five times more block capacity. SegWit applies a weight discount to the transaction section containing signature data.The system also relies on SHA-256, which Bitcoin already uses in mining. Its security therefore does not depend on an entirely new mathematical assumption.SHRINCS is not ready for productionSHRINCS creates a fresh, one-time key for every transaction signature. Wallets must accurately track which keys they have already used.Records must remain synchronized across phones, hardware wallets and backups. Restoring an older wallet backup could complicate key management.The researchers have not completed a formal security proof for the system. The reference software has also not undergone a comprehensive security audit.Blockstream tested SHRINCS-signed transactions on the Liquid network in March. Adding the system to Bitcoin would require a backward-compatible soft fork.Ethereum prepares to change validator keysEthereum researchers published a separate draft one day before the Bitcoin proposal. It would rebuild the deposit contract through which validators join the network.Validators lock ETH to help secure Ethereum and confirm transactions. The current contract accepts only a cryptographic key format known as BLS.BLS can combine hundreds of thousands of signatures into a single signature. This feature helps keep Ethereum’s consensus costs manageable.BLS also relies on elliptic-curve mathematics. A sufficiently powerful quantum computer could potentially forge a validator’s signature.Ethereum’s existing contract hard-codes the size of BLS keys. The network therefore cannot currently accept quantum-resistant keys of different sizes.The draft would allow the deposit contract to register different key types. Each deposit would carry a tag identifying its cryptographic system.BLS keys would use tag zero. Ethereum developers could later introduce additional tags for quantum-resistant systems.New BLS deposits could be permanently disabledIf Ethereum adopts the proposal, BLS keys would remain operational initially. Alternative signature systems could register through the same contract.A later upgrade could permanently disable new deposits using BLS keys. Existing BLS validators would remain active, while new participants would need different keys.Approximately 42.4 million ETH is currently staked on Ethereum. These assets are worth about $104 billion at current prices.The draft would make the deposit contract more flexible, but it would not complete the migration. Ethereum would also need a separate upgrade explaining how to verify the new signatures.EIP-8141, currently under consideration for the Hegotá upgrade, proposes a similar transition for user accounts. It would allow accounts to change their transaction authorization system without moving to a new address.The Ethereum Foundation aims to complete the core protocol changes around 2029. Bitcoin currently has no confirmed implementation timeline for SHRINCS.
Bitcoin Faces $80,000 Test as Markets Await PCE Data
Bitcoin is struggling to break above $80,000 as investors turn their attention to the upcoming US core PCE data. BTC traded around $78,700 at the time of writing following its rapid rally.Bitcoin traded between $77,972 and $79,916 during the day. The cryptocurrency has gained approximately 22% since falling to $64,300 on August 19.Profit-taking emerged around $80,000 following the rally. Investors are now watching how inflation data and the Jackson Hole comments will affect the market.Bitcoin rally slows ahead of PCE dataThe US Treasury’s decision to expand its bond buyback program helped trigger Bitcoin’s rally. The department raised the maximum buyback size for 10- to 30-year securities from $2 billion to at least $4 billion per operation.According to the US Treasury’s announcement, the larger buybacks will begin on September 9. The decision pushed long-term Treasury yields lower and increased pressure on the dollar.Lower yields and a weaker dollar supported demand for Bitcoin. BTC consequently climbed from around $64,000 to the $80,000 threshold within a short period.However, the rally has lost momentum over the past two days. Bitcoin tested $80,000 but failed to establish a sustained move above that level.Easing tensions in the Middle East and falling oil prices have also changed the market outlook. These developments reduced inflation risks while limiting urgent demand for alternative hedges.How could core PCE affect Bitcoin?The US Bureau of Economic Analysis will release July’s PCE data on August 26 at 8:30 a.m. ET. Core PCE, which the Fed closely monitors, excludes volatile food and energy prices.Core PCE increased by 0.1% month over month in June. Annual core inflation reached 3.3%. Markets expect the monthly increase to accelerate to 0.2% in July.A lower-than-expected reading could increase downward pressure on Treasury yields and the dollar. Such an outcome could support another Bitcoin test of $80,000.Hotter core inflation could strengthen concerns that the Fed will maintain tight monetary policy for longer. This scenario could accelerate profit-taking in Bitcoin following its recent rally.Markets will also follow Fed Chair Kevin Warsh’s Jackson Hole speech on Friday. Warsh’s comments on inflation and interest rates will provide another major catalyst this week.Bitcoin ETFs attract $314 millionInstitutional demand for US spot ETFs continues to support Bitcoin’s strong performance. According to Farside Investors, the funds recorded $314.3 million in net inflows on August 25.Spot Bitcoin ETFs consequently completed their seventh consecutive session of positive flows. Inflows exceeded $300 million during each of the past five trading sessions.The funds attracted a combined $2.08 billion during those five sessions. Net inflows over the seven-day streak reached approximately $2.57 billion.BlackRock’s IBIT collected $284.4 million during the latest trading session. Fidelity’s FBTC attracted $15.4 million, while Grayscale’s BTC received $7 million.Which Bitcoin price levels matter?The first major resistance zone for Bitcoin sits between $79,750 and $80,000. A sustained move above this area could bring the $81,000–$83,000 range into focus. A lasting breakout above $83,000 could strengthen medium-term expectations for $95,000–$100,000. However, this scenario requires strong spot trading volumes and continued ETF inflows.The first support zone sits between $77,500 and $76,000. Losing this area could trigger a deeper correction toward $74,000.Slower ETF inflows or hotter PCE data could increase short-term selling pressure. Another failed breakout above $80,000 would also raise the correction risk.Meta Title: Bitcoin Awaits PCE Data as $80,000 Test LoomsMeta Description: Bitcoin struggles with $80,000 resistance as markets await PCE data and the Jackson Hole speech. Spot ETFs attracted $314 million.Keywords: Bitcoin, Bitcoin price, PCE data, core PCE, Bitcoin ETF, BTC, Jackson Hole
Bitcoin Nears $80,000 as Short Liquidations Accelerate
Bitcoin turned higher again after trading quietly over the weekend following Friday’s rally. BTC approached $79,700 on August 24, while short liquidations added momentum to the advance.According to JrKripto market data, Bitcoin climbed to $79,700 as of 7:30 p.m. Türkiye time. The cryptocurrency gained 3% over 24 hours and 24.6% over the past seven days. Bitcoin traded between $76,718 and $79,749 during the 24-hour period. The recovery erased its weekend losses and brought the $80,000 threshold back into focus.Weekend decline hit long positionsBitcoin climbed from around $64,000 to nearly $79,500 during last week’s rapid rally. Profit-taking after the move of more than 20% pushed the price down to $75,600 on August 23.The weekend pullback particularly affected traders betting on further gains. Market data showed that traders lost $53.2 million through Bitcoin liquidations on August 23.Long positions accounted for $44.8 million of that total. Around 84% of Bitcoin liquidations therefore came from long trades.Bitcoin did not remain below $76,000 for long, which limited the selling pressure. Buyers returned and pushed the price first above $77,000 and then beyond $79,000.Shorts accounted for 89% of hourly liquidationsThe recovery caught traders positioned for further declines. Across the broader crypto market, liquidations reached approximately $361 million over the past 24 hours.Short positions accounted for $203.9 million, or 56.5% of the total. Long liquidations stood at $157.2 million.Four-hour data showed growing pressure on bearish positions. Shorts accounted for $121.7 million of the $189.4 million liquidated during that period.The gap widened further over the past hour. Short positions represented $35.6 million of the approximately $39.9 million in liquidations.Their share of hourly liquidations consequently reached 89.1%. Forced position closures created additional buying pressure as Bitcoin moved above $79,000.Bitcoin ETFs attracted $1.92 billionLiquidations in derivatives markets accelerated the price movement. Demand in the spot market also showed that the rally had broader support.According to Farside Investors, U.S. spot Bitcoin ETFs recorded approximately $1.92 billion in net inflows during the week of August 17–21. The funds attracted $606.3 million on August 20 alone.The ETFs added another $307.5 million on August 21. Five consecutive days of positive flows indicated that institutional demand remained firm as Bitcoin’s price climbed.The U.S. Treasury’s decision to increase purchases of longer-dated government bonds also supported Bitcoin. The move lowered Treasury yields and increased pressure on the dollar.The Trump administration’s push for a clearer regulatory framework for crypto also improved market sentiment. President Donald Trump urged Congress last week to move forward with the CLARITY Act.Bitcoin price turns toward $80,000Bitcoin faces its first short-term resistance between $79,750 and $80,000. Holding above this area could create room for last week’s rally to continue.Bitget Research Chief Analyst Ryan Lee told CoinDesk that Bitcoin could consolidate between $74,000 and $81,000 in the near term. According to Lee, continued institutional demand after forced liquidations subside will determine the rally’s durability.Markets will also follow Federal Reserve Chair Kevin Warsh’s Jackson Hole speech this week. His comments on interest rates and the bond market could shape Bitcoin’s direction around $80,000.
Crypto This Week: 24 Events in Focus as PCE and Jackson Hole Take Center Stage
Bitcoin started the week of August 24–30 above $77,000. BTC gained more than 21% last week, while investors shifted their attention to US inflation, the Jackson Hole symposium and comments from Federal Reserve Chair Kevin Warsh. On the crypto calendar, network upgrades for BNB Chain and Zano stand out. New tokens from DGAI, PROPR and TMX will enter the market, while the circulating supplies of SIGN and ZORA will expand.PCE data will shape interest rate expectationsThe week’s most important data will be released simultaneously on Wednesday, August 26, at 3:30 p.m. Türkiye time. The US Bureau of Economic Analysis’ official calendar includes the July personal income and spending report and the second estimate of second-quarter economic growth.The market expects headline PCE inflation, which the Fed closely monitors, to rise 0.1% month over month. The annual rate is forecast to decline from 3.7% to 3.6%.Core PCE is expected to increase 0.2% monthly and 3.3% annually. A higher-than-expected reading could raise the possibility of an interest rate hike in September and push long-term Treasury yields higher.No revision is expected to the initial estimate showing that the US economy grew at an annualized rate of 1.5% in the second quarter. Durable goods orders are forecast to rise 0.5% in July.Jackson Hole’s theme directly concerns the crypto marketThe Kansas City Fed’s annual Jackson Hole Economic Policy Symposium will take place in Wyoming from August 27 to 29. This year’s theme is “Financial Innovation: Implications for Payments and Policy.”The theme matters for stablecoins, tokenized assets, digital payments and central banks’ approach to financial innovation. Central bank officials, economists and policymakers will attend the event.Fed Chair Kevin Warsh will deliver the symposium’s keynote address on Friday, August 28, at 5:00 p.m. Türkiye time. The time of the speech has been confirmed on the Fed’s events calendar.Markets currently assign an approximately 40% probability to an interest rate hike in September. Futures pricing has largely factored in at least one increase by December.Oil prices keep inflation risks alive for cryptoTensions involving Iran and the Strait of Hormuz are increasing the impact of energy costs on central bank decisions. Brent crude fell 1.5% on Monday but remained near $93 per barrel.According to Reuters, investors are awaiting details of new US sanctions against Iran. Iran’s threat to disrupt energy exports from the Gulf is keeping the risk of another increase in oil prices alive.Higher energy prices could fuel PCE inflation and make it more difficult for the Fed to move toward rate cuts. This outlook represents one of the week’s main risks for Bitcoin and altcoins, which remain sensitive to liquidity conditions.Two Asian central banks will announce rate decisionsThe Bank of Thailand will announce its interest rate decision on Wednesday, August 26, at 10:00 a.m. Türkiye time. The bank’s meeting schedule confirms the date, while the current policy rate stands at 1%.The Bank of Korea will announce its decision on Thursday, August 27, at 4:00 a.m. Türkiye time. The bank raised its rate by 25 basis points to 2.75% in July.South Korean policymakers have indicated that further tightening could remain on the agenda due to high inflation and strong economic growth. The decision could affect Asian currencies and regional risk appetite.BNB Chain and Zano networks will receive upgradesBNB Smart Chain’s Pasteur upgrade will activate on the mainnet on Tuesday, August 25, at 5:30 a.m. Türkiye time. According to BNB Chain’s announcement, node operators must upgrade their client software to version v1.7.7 before the activation.Pasteur will strengthen bridge transaction verification and validator key security. Tests on the testnet reportedly increased transaction capacity from 1,237 to 2,324 transactions per second.Privacy-focused network Zano will also activate Hard Fork 6 at block 3,833,000. According to the project, the network is expected to reach this block between August 25 and 27.The upgrade will introduce Gateway Addresses, making it easier for exchanges and cross-chain applications to connect with Zano. Wallet users, mining pools and node operators must update their software before the network reaches the target block height.Three tokens are entering the marketDGrid AI’s DGAI token will begin trading on Bitget on Monday, August 24, at 11:00 a.m. Türkiye time. The exchange confirmed the launch time for the DGAI/USDT pair in its official listing announcement.Propr, a proprietary trading platform built on Hyperliquid, will also launch the PROPR token on August 24. The project’s roadmap places the token generation event and the start of spot trading on the same date, although it does not provide an exact time.Fixed-rate lending protocol TermMax will hold its TMX token generation event on August 25. TMX is designed as the protocol’s governance and utility token.SIGN and ZORA token unlocks will be closely watchedA total of 207.78 million SIGN tokens will enter circulation. The project’s calendar lists the event for August 28 at midnight Beijing time, meaning the unlock will occur on Thursday, August 27, at 7:00 p.m. Türkiye time.At the current price, the SIGN unlock is worth approximately $3.63 million. The value will change alongside movements in the spot price.ZORA will unlock 166.67 million tokens on Sunday, August 30, at 8:30 a.m. Türkiye time. The unlock represents approximately 1.67% of the total supply and is worth around $1.1 million at the current price.Of the unlocked tokens, 72.5 million will go to investors, 52.5 million to the team and 41.67 million to the treasury. The latest distribution figures and approximate dollar value are available on ZORA’s unlock calendar.IREN will report its financial resultsIREN, which is shifting from Bitcoin mining toward artificial intelligence cloud infrastructure, will release its fiscal 2026 results on August 27. Due to the time difference, the company’s conference call will begin on Friday, August 28, at midnight Türkiye time.IREN’s investor announcement shows that the report will cover the fiscal year ending June 30. Mining revenue, energy expenses and investments in artificial intelligence infrastructure will be among the main items to watch.Bitcoin Asia will take place in Hong KongBitcoin Asia 2026 will take place in Hong Kong on August 27 and 28. The organizer’s event page says more than 150 speakers and over 10,000 attendees are expected.The program will focus on Bitcoin infrastructure, institutional capital, adoption across Asia and regulation. CZ, Balaji Srinivasan and Hong Kong Legislative Council member Johnny Ng are among the announced speakers.The full calendar of 24 developments for the week is as follows:August 24: PROPR token generation event.August 24, 11:00 a.m. Türkiye time: DGAI/USDT trading begins on Bitget.August 25, 5:30 a.m. Türkiye time: BNB Smart Chain Pasteur upgrade.August 25: TMX token generation event.August 25–27: Zano Hard Fork 6 activation.August 25, 5:00 p.m. Türkiye time: US July new home sales; forecast 619,000, previous 628,000.August 25, 5:00 p.m. Türkiye time: US consumer confidence; forecast 90.1, previous 90.8.August 26, 4:30 a.m. Türkiye time: Australia’s July inflation data.August 26, 10:00 a.m. Türkiye time: Bank of Thailand interest rate decision.August 26, 3:30 p.m. Türkiye time: US durable goods orders; forecast 0.5%, previous 0.3%.August 26, 3:30 p.m. Türkiye time: Second estimate of US second-quarter growth; forecast 1.5%.August 26, 3:30 p.m. Türkiye time: US July PCE inflation.August 27, 4:00 a.m. Türkiye time: Bank of Korea interest rate decision.August 27, 3:30 p.m. Türkiye time: US weekly jobless claims; forecast and previous reading 206,000.August 27, 7:00 p.m. Türkiye time: SIGN token unlock worth approximately $3.63 million.August 27–29: Jackson Hole Economic Policy Symposium.August 27–28: Bitcoin Asia 2026.August 28, midnight Türkiye time: IREN financial results conference call.August 28, 2:30 a.m. Türkiye time: Japan’s July unemployment rate.August 28, 3:30 p.m. Türkiye time: Canada’s June and second-quarter GDP data.August 28, 4:45 p.m. Türkiye time: Chicago PMI; forecast 57.9, previous 57.6.August 28, 5:00 p.m. Türkiye time: University of Michigan final consumer sentiment reading; forecast 51.August 28, 5:00 p.m. Türkiye time: Fed Chair Kevin Warsh’s Jackson Hole speech.August 30, 8:30 a.m. Türkiye time: ZORA token unlock worth approximately $1.1 million.
Bitcoin Breaks Above $75,000 as $517 Million Flows Into ETFs
Bitcoin extended the sharp rally that began on August 19 and broke above the $75,000 threshold overnight. The price reached $75,664, bringing its two-day gain close to 15%.Bitcoin was trading near $75,500 on the morning of August 21. Its daily gain exceeded 8%, while its market capitalization climbed back above $1.5 trillion. The rally has now continued into a third day following the initial wave of short liquidations. Fresh inflows into U.S. spot Bitcoin ETFs also suggest that the rise is no longer being driven solely by forced buying in the derivatives market.Bitcoin rally reaches $75,000Bitcoin began its move near $64,300 on August 19 before climbing to $68,700. During the initial rally covered by JrKripto, short liquidations accelerated the price increase.BTC held on to its gains afterward. The price remained near $71,800 on the afternoon of August 20 before fresh buying emerged overnight.By breaking above $75,000, Bitcoin recorded one of its strongest recoveries since June. The intraday high reached $75,664.The gains also spread across the broader crypto market. Ether and other large-cap altcoins advanced, while U.S.-listed shares of crypto companies also benefited from the rally.Spot Bitcoin ETFs receive $517 millionForced buying in the derivatives market played a prominent role during the first stage of the rally. However, the price continuing to rise for three consecutive days indicates that demand in the spot market has also strengthened.Data showed that U.S.-listed spot Bitcoin ETFs recorded $517 million in net inflows. This marked their largest daily inflow in roughly three and a half months.ETF flows are among the main indicators used to track Bitcoin demand from investors in traditional markets. New Bitcoin purchases by these funds can directly tighten the available supply in the spot market.Activity in the derivatives market has yet to subside. Short positions accounted for most of the Bitcoin positions liquidated during the latest rally. Although spot demand has strengthened, forced buying from leveraged trades is still contributing to the price increase.U.S. Treasury decision supports risk appetiteOne of the main macroeconomic catalysts behind Bitcoin’s rise was the U.S. Treasury’s decision to expand its buybacks of long-term government bonds. The department announced that it would increase the maximum size of each buyback operation for 10- to 30-year bonds from $2 billion to at least $4 billion.According to the U.S. Treasury’s announcement, the larger buybacks will begin on September 9. Long-term bond yields declined following the decision, while pressure on the U.S. dollar increased.Lower yields and a weaker dollar supported demand for risk assets such as Bitcoin. However, the buyback program does not amount to direct monetary expansion. The Treasury aims to strengthen liquidity in the long-term government bond market through the measure.Developments on the regulatory front also contributed to the positive market sentiment. Following the White House crypto summit, U.S. President Donald Trump called on Congress to pass the CLARITY Act.Which Bitcoin levels should investors watch?The intraday peak near $75,600 has become Bitcoin’s first short-term threshold. Holding above this level could support a continuation of the rally toward the $78,000 to $80,000 range.On the downside, the $72,000 to $73,000 range is the first key area to watch. Bitcoin remaining above $70,000 will be important for preserving the latest breakout.Whether ETF inflows continue will also provide clues about the rally’s underlying structure. If spot demand remains strong while leverage grows at a limited pace, the move could develop on a more balanced foundation. Weaker fund inflows combined with rapidly expanding derivatives positions could increase the risk of a sharp pullback.
Bitcoin Jumps 7% in One Hour as Short Liquidations Surge
Bitcoin climbed from around $64,300 to $68,700 within approximately one hour. The sudden move caught traders betting on lower prices off guard. More than $70 million in short positions were liquidated during the period.Bitcoin traded near $68,450 as of 6:45 p.m. Türkiye time on August 19. The cryptocurrency reached an intraday high of $68,776. BTC’s 24-hour gain reached 5.6%. However, most of the increase occurred within the previous hour. Bitcoin had traded sideways near $64,000 earlier in the day.Short liquidations exceed $70 million in one hourMarket data showed that leveraged cryptocurrency positions worth $71.99 million were liquidated in the past hour. Short positions accounted for $70.18 million of that amount.Long liquidations remained at just $1.81 million. Therefore, traders betting on lower prices represented approximately 97.5% of all liquidations during the period.Four-hour liquidations climbed to $116.06 million. Short positions accounted for $94.39 million of the total. Over the past 24 hours, exchanges closed $139.52 million in leveraged positions.The liquidations affected 22,260 trader accounts. The largest individual liquidation occurred on OKX and involved a Bitcoin position worth $4.07 million.The automatic closure of short positions can create additional buying pressure. As prices rise, they can reach new liquidation levels and trigger further forced purchases. This process can accelerate a rally within a short period.Ethereum outperforms Bitcoin during the rallyThe Bitcoin rally quickly spread across the altcoin market. Ethereum gained 8.6% and reached $2,082.Solana rose 6.6% to $82.09, while XRP gained 6.5% to trade at $1.068. Dogecoin advanced 4.2%, BNB gained 2.6% and SUI climbed 6.2%.The total cryptocurrency market capitalization reached $2.31 trillion. Market data showed that the figure increased by 4.38% over the past 24 hours.Daily cryptocurrency trading volume also rose 18.3% to $61.5 billion. Bitcoin’s market dominance reached 59.28%.Why did Bitcoin rise?No single confirmed announcement has emerged as the immediate trigger for the sudden rally. The move came as expectations surrounding cryptocurrency regulation in the United States improved.Reuters reported that the White House was hosting executives from the cryptocurrency and prediction market industries on August 19. SEC Chair Paul Atkins, CFTC Chair Michael Selig and White House crypto adviser Patrick Witt were expected to attend.The SEC also published a new regulatory proposal covering token sales. The proposal could exempt certain token offerings from securities registration requirements.Markets will also follow the Federal Reserve minutes scheduled for release at 9:00 p.m. Türkiye time. A more hawkish message on the interest rate outlook could increase volatility following the rally.Whether Bitcoin can remain above $68,000 will be important for its short-term direction. The liquidation-driven rally will require continued spot-market buying volume to sustain its momentum.
Metaplanet to Build U.S. Bitcoin Treasury: Price Surges
Japan-based Metaplanet will invest $134.6 million in Nasdaq-listed Super League Enterprise. Once the transaction closes, Metaplanet will control a 95.7% stake in the company.Metaplanet will contribute 2,100 Bitcoin and $2.5 million in cash. Super League will then become Superplanet, a U.S.-based Bitcoin treasury platform.SLE shares surged 57%Super League shares climbed sharply following the announcement. SLE reached an intraday high of $6.85 on August 18, briefly pushing its daily gain above 100%.The stock was trading 57% higher at $4.74 as of 6:53 p.m. Türkiye time. Super League’s market capitalization stood at approximately $5 million at Monday’s close.The company’s low market value and limited share count amplified the price movement. However, the agreement includes the issuance of a large number of new shares, creating significant dilution for existing investors.According to the companies’ announcement, Metaplanet will receive 44,859,400 newly issued SLE shares. The transaction values each share at $3.Metaplanet will contribute 2,100 BitcoinThe 2,100 Bitcoin provided by Metaplanet was worth approximately $132.1 million based on Coinbase’s August 14 closing price. The amount represents about 4.9% of Metaplanet’s total reserves of 43,000 BTC.The remaining $2.5 million will come in cash. This brings the initial investment’s total value to approximately $134.6 million.The parties fixed the number of shares using Bitcoin’s August 14 price. The share count will not change in response to BTC price movements before the transaction closes.Metaplanet will not sell its Bitcoin on the market. The assets will move to Superplanet, but the BTC will remain within the same corporate group because the new company will be a consolidated Metaplanet subsidiary.Super League will become SuperplanetSuper League will change its name to Superplanet after the transaction closes. Its Nasdaq ticker will also change from SLE to SUPA.Superplanet will operate as Metaplanet’s U.S. Bitcoin treasury company. The group will gain access to separate investor bases and capital markets through listings in Tokyo and on Nasdaq.Super League’s gaming, advertising and digital media operations will continue. The existing business will remain a separate operating segment within Superplanet.Super League CEO Matthew Edelman will lead the new company. Metaplanet will appoint five members of Superplanet’s nine-person board.Existing SLE investors’ stake will fall to 4.3%Metaplanet will control approximately 95.7% of Superplanet’s outstanding common stock following the issuance of the new shares. Existing Super League investors will collectively hold the remaining 4.3%.Metaplanet’s stake would stand at 93.6% if outstanding pre-funded warrants are exercised. This percentage would still give the company clear majority control.Metaplanet will also receive 100 shares of convertible perpetual preferred stock. These securities will give it the right to appoint a majority of Superplanet’s board.The agreement also grants Metaplanet ten-year warrants. The company could use them to purchase up to 381 million additional shares at exercise prices ranging from $3 to $33.50.These warrants could cause further changes to Superplanet’s ownership structure if exercised. However, Metaplanet’s initial shares and any stock obtained through warrants will remain subject to a five-year lock-up.Superplanet could receive another $210 millionMetaplanet will have the right to invest up to an additional $210 million in Superplanet during the 24 months following the transaction’s closing. The investment would use non-convertible perpetual preferred stock.Superplanet plans to use its Bitcoin holdings as a collateral base for potential preferred stock offerings. Income from its existing media operations and other cash flows could help fund dividend payments on these securities.The structure aims to help Superplanet accumulate more Bitcoin while limiting new common share issuance. After closing, the company plans to publish regular metrics showing the amount of Bitcoin attributable to each share.The transaction is expected to close in the fourth quarter of 2026. It remains subject to approval from Super League shareholders, required Nasdaq filings and regulatory procedures in the United States and Japan.Meta title: Metaplanet to Build U.S. Bitcoin TreasuryMeta description: Metaplanet will transfer 2,100 Bitcoin to Super League to create Superplanet, a U.S. treasury platform. SLE shares rose 57%.Primary keyword: Metaplanet SuperplanetKeywords: Metaplanet, Superplanet, Super League, SLE stock, Bitcoin treasury company, 2,100 Bitcoin, SUPA stock
Crypto This Week: 29 Events in Focus, Led by the Fed Minutes
The crypto market will focus on the Federal Reserve’s interest-rate debate and the European Union’s transaction ban targeting 14 crypto platforms during the week of August 17–23. Several token unlocks are also scheduled, including ZRO, TRUMP, KAITO and AVAX.Bitcoin started the week trading at around $63,500. Weak US employment and retail sales data have reduced expectations for an interest-rate increase, while rising oil prices continue to keep inflation risks alive. FOMC minutes could revive the rate debateThe week’s most important macroeconomic event will arrive on Wednesday, August 19, when the Federal Reserve publishes the minutes from its July 28–29 FOMC meeting at 9:00 p.m. Türkiye time.The Fed kept its target rate unchanged at 3.50%–3.75% in July. The decision passed by a 9–3 vote, with Beth Hammack, Neel Kashkari and Lorie Logan supporting a 25-basis-point increase.The three dissenting votes have made the minutes more significant. Investors will examine whether support for tighter policy extended beyond those three officials and what conditions might persuade other members to back an increase.US data released since the July meeting have pointed to slower economic activity. In a Reuters poll, 94 of 104 economists expected the Fed to leave rates unchanged at its September meeting.Futures markets have also lowered the probability of a September rate increase to around 30%, down from approximately 50% a week earlier. The minutes will reflect the Fed’s position at the time of the meeting, so investors will weigh them against the weaker data published since then.Oil prices are keeping the rate outlook uncertain. Brent crude gained 6% last week and moved above $89 on Monday. Supply risks in the Middle East could raise energy costs and complicate central banks’ efforts to control inflation.The effect was visible in the week’s first major data release. Canada’s annual inflation rate climbed to 3% in July, driven partly by a 25.7% year-over-year increase in gasoline prices.EU ban targeting 14 crypto platforms takes effectThe European Union’s transaction ban covering 14 crypto service platforms will take effect on Sunday, August 23. The measure forms part of the crypto provisions in the EU’s 21st sanctions package against Russia.According to the Council of the EU, the listed platforms are based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus. The bloc says the entities helped Russia circumvent existing financial sanctions.The ban prevents EU operators from conducting direct or indirect transactions with the listed platforms. Its scope is limited to the entities named in the annex to Regulation 2026/1848.The regulation also creates a pathway for broader restrictions on crypto services in countries that systematically help Russia evade sanctions. This mechanism could allow the EU to target crypto services across an entire jurisdiction instead of adding individual companies to its sanctions list.Counterparty screening will become more important for EU-based exchanges and custody providers. Transfers linked to the listed platforms could face additional checks, potentially affecting some users’ deposit and withdrawal transactions.Coinbase and Circle agreement enters renewal periodThe USDC collaboration agreement between Coinbase and Circle will enter its first three-year renewal term on August 18. The agreement governs the distribution of USDC-related revenue and the economic relationship between the two companies.The contract submitted to the SEC took effect on August 18, 2023. Its initial term lasted three years and can renew automatically for additional three-year periods if both parties meet the specified performance requirements.The date marks the continuation of the existing commercial framework. Circle and Coinbase have not announced a separate USDC token launch or network upgrade tied to the renewal.ZRO and TRUMP unlocks enter focusThe week’s token calendar includes several unlocks that are significant in dollar value or as a share of circulating supply. Their dollar values are approximate and will continue to fluctuate with spot prices.August 17: Aster will unlock approximately $28.3 million in ASTER, equivalent to 1.8% of its circulating supply.August 18: Official Trump will release around $40 million in TRUMP, equal to 4.1% of its circulating supply.August 20: LayerZero will unlock approximately $20 million in ZRO, representing 4.4% of its circulating supply.August 20: Kaito will unlock around $12.2 million in KAITO.August 21: Avalanche will unlock approximately $23.1 million in AVAX, equivalent to 0.7% of its circulating supply.August 21: Morpho will release around $22.7 million in MORPHO, representing 3.9% of its circulating supply.August 21: Akedo Games will unlock approximately $14.1 million in AKE.Market data show that the ZRO unlock includes allocations for private investors, founders, team members and the community. Transfers to investors and team members with relatively low cost bases could increase the risk of short-term selling pressure.The same data source reported that DATA Network postponed the unlock for its early backers and core contributors from August 13, 2026, to February 13, 2028. Under the revised schedule, 25% of the allocations will unlock in 2028, while the remainder will be released gradually through February 2031.Token unlocks make previously restricted assets transferable. Their effect on prices will depend on the recipients’ decisions, market liquidity and demand during the same period.Gnosis and THORSwap votes will concludeThe week’s most extensive DAO proposal comes from Gnosis Chain. GnosisDAO is considering transforming the network from a standalone layer-1 blockchain into a rollup settled on Ethereum.The proposal aims to establish synchronous composability between Gnosis Chain and Ethereum. Voting ends on August 19, although approval would not mean the transition takes place immediately.ShapeShift DAO is voting until August 18 on a proposal to move its rFOX staking program from Arbitrum to Ethereum mainnet on October 1. The plan would increase revenue-sharing rewards to 50% for three months to encourage migration.Rocket Pool is considering replacing Snapshot with RocketDash as its official offchain signaling platform. Decentraland is voting on a governance and appeals framework for platform-wide bans. Both votes will end on August 19.Voting on THORSwap’s TIP-19 proposal will continue until August 22. The proposal would migrate THOR tokens to METRO on Ethereum mainnet at a one-to-one ratio.Compound’s Proposals 595 and 596, which covered zeroing rates in deprecated markets and applying layer-2 security upgrades, concluded on August 16. They are therefore excluded from the week’s upcoming events.This week’s macroeconomic calendarAll times are Türkiye time, UTC+3.August 18, 3:30 p.m.: US import and export prices for July.August 18, 4:15 p.m.: US industrial production for July. Monthly growth is expected at 0.3%, following a 0.1% increase.August 19, 9:00 a.m.: UK inflation for July. Headline inflation is expected to rise to 3% from 2.6%.August 19, 12:00 p.m.: Final euro-area inflation data for July. The preliminary estimate showed headline inflation at 2.9% and core inflation at 2.5%.August 19, 9:00 p.m.: FOMC minutes from the Fed’s July 28–29 meeting.August 20, 3:30 p.m.: US initial jobless claims. Economists expect 201,000 applications, compared with 209,000 previously.August 21, 2:30 a.m.: Japan’s July inflation data. Core inflation is expected at 1.8%.August 21, 9:00 a.m.: UK retail sales for July.August 21, 11:00 a.m.: Flash euro-area composite PMI for August. The forecast stands at 51.6.August 21, 4:45 p.m.: Flash US composite PMI for August. The forecast stands at 53.2.Crypto companies will report earningsInvestors will also follow the financial results of three companies connected to Bitcoin mining and blockchain infrastructure. BitFuFu is scheduled to report its second-quarter results on August 17, while Canaan’s results are expected before the US market opens on August 18.Ethereum-focused BTCS is scheduled to report after the market closes on August 18. Mining output, energy costs, crypto asset valuations and cash positions could influence the companies’ share prices.Crypto events begin in Wyoming and BaliThe Wyoming Blockchain Symposium, organized by SALT and Kraken, will take place in Jackson Hole from August 17 to 20. Speakers include Cynthia Lummis, Tim Scott, Michael Novogratz, Denelle Dixon and Kraken co-CEO Arjun Sethi.Coinfest Asia will take place in Bali on August 20–21. Its program will focus on stablecoins, tokenized assets, Asian regulatory frameworks and institutional blockchain adoption.No high-profile token launch has been confirmed for the week. The FOMC minutes, oil prices, EU sanctions and the existing token supply calendar are therefore likely to carry greater influence over the direction of the crypto market.
Bitcoin ETF Outflows Hit $390 Million, Highest in Six Weeks
U.S.-listed spot Bitcoin ETFs recorded approximately $390 million in net outflows last week. The withdrawals reached their highest level in six weeks, while Bitcoin managed to remain above $63,000 on Monday.Bitcoin was trading at around $63,500 at the time of writing. BTC has gained 0.8% since the start of the day, recovering only a small portion of last week’s losses. Bitcoin ETFs posted outflows on four daysAccording to SoSoValue data, U.S. spot Bitcoin ETFs recorded $389.71 million in total net outflows during the week of August 10-14. This marked the products’ largest weekly withdrawal in six weeks.The funds ended four of the five trading sessions with negative flows. Investors withdrew $144.67 million on August 10, $61.16 million on August 12 and $131.13 million on August 13.Another $57.63 million left the funds during the final trading session of the week. Bitcoin ETFs consequently recorded their first three-day outflow streak since the end of July.Fidelity’s FBTC posted the largest outflow among individual funds. Investors withdrew $153.23 million from the product over the week.Grayscale’s GBTC lost $88.3 million, while BlackRock’s IBIT recorded $78.96 million in outflows. ARKB, managed by ARK Invest and 21Shares, shed $70.36 million.Only two funds stood out on the positive side. Grayscale’s BTC fund attracted $75.98 million, while Morgan Stanley’s MSBT received $7.08 million in net inflows.Bitcoin followed the Nasdaq higherBitcoin began the new week with a modest gain despite the ETF outflows. Positive sentiment in U.S. equity markets helped BTC remain above $63,000.Nasdaq 100 futures rose 0.5% on Monday, reaching their highest level since July 2. No clear crypto-specific catalyst appeared to be supporting Bitcoin’s move.The price action suggests that BTC is currently moving alongside technology stocks and broader risk appetite. However, weakness in ETF demand raises doubts about the durability of the recovery.Spot ETFs allow investors to gain exposure to Bitcoin’s price without holding the cryptocurrency directly. Markets closely monitor their flows because sustained withdrawals indicate weaker demand through the ETF channel.Ethereum ETFs were flat as Solana stood outSpot Ethereum ETF activity remained limited compared with the $390 million withdrawn from Bitcoin funds. U.S. Ethereum ETFs ended the week with total net outflows of $2.26 million.BlackRock’s ETHA lost $16.39 million, while investors withdrew $5.6 million from Fidelity’s FETH. A $15.07 million inflow into Grayscale’s ETH fund offset most of those withdrawals.Solana ETFs attracted $10.26 million in net investment over the same period. This represented their strongest weekly inflow since mid-May.The figures show a clear divergence among crypto ETF products. As capital left Bitcoin funds, some investors shifted toward Solana and other altcoin products.Why do Bitcoin ETF outflows matter?Money leaving Bitcoin ETFs does not guarantee an immediate decline in BTC’s price. Bitcoin’s ability to hold above $63,000 indicates that demand elsewhere in the market has absorbed the ETF-related selling pressure so far.Still, the $390 million weekly withdrawal points to weaker short-term institutional demand. Continued outflows during the new week could leave Bitcoin’s support around $63,000 increasingly vulnerable.Alongside ETF data, investors will monitor the Federal Reserve meeting minutes scheduled for release on Wednesday. Signals about the interest-rate outlook could influence risk appetite across both technology stocks and Bitcoin.
US PPI Data Released: How Did Bitcoin React?
US producer inflation came in below expectations in July. Although the data eased concerns about further interest rate hikes, Bitcoin failed to stage a strong rally and remained around $63,500 following the release.According to data released by the US Bureau of Labor Statistics, the Producer Price Index was unchanged on a monthly basis in July. The market had expected producer prices to rise by 0.2%.Annual PPI inflation declined from 5.5% to 4.7%. Economists had expected the annual rate to come in at 4.9%.Core PPI declined to 4.2%Core PPI, which excludes food and energy prices, increased by 0.2% month-over-month in July. The market forecast was 0.3%.Annual core PPI fell from 4.7% to 4.2%, matching expectations. The figures showed that both headline and core producer inflation slowed compared with June.A broader measure of underlying inflation, which excludes food, energy and trade services, rose by 0.4% on a monthly basis. The annual increase in this category stood at 4.7%.Energy prices were the main driver of changes across the PPI components. Prices for final demand goods fell by 0.7%, while energy and food prices declined by 3.1% and 0.9%, respectively. A 5.7% drop in gasoline prices accounted for more than half of the decrease in the goods category.Bitcoin failed to rally after the PPI dataDespite the weaker-than-expected headline figures, Bitcoin’s price did not post a significant increase. BTC was trading near $63,800 before the release and slipped toward $63,500 afterward. Bitcoin was down approximately 0.7% on the day as of 3:50 p.m. Türkiye time. Its intraday trading range remained between $63,267 and $64,093.The initial reaction suggested that investors had largely priced in the softer PPI reading. Consumer inflation data released a day earlier showed an annual rate of 3.4%, in line with expectations, strengthening forecasts that the Fed would keep interest rates unchanged at its September meeting.Ongoing selling pressure in the crypto market also contributed to Bitcoin’s weak response. BTC has traded within a broad range of $60,000 to $67,000 for several weeks, while attempts to remain above $64,000 have failed to develop into a sustained rally.Pressure on the Fed to raise rates could easeThe slowdown in producer inflation added to the data limiting the likelihood of another near-term Fed rate hike. A decline of 23,000 in US nonfarm payrolls in July and easing consumer inflation also support expectations that interest rates could remain unchanged.However, annual core PPI remaining at 4.2% indicates that price pressures have yet to disappear completely. Upcoming employment and inflation data will be decisive for the Fed’s September decision.The crypto market’s short-term agenda now includes US retail sales data scheduled for August 14. A weaker-than-expected reading could further reduce the possibility of a rate hike, while strong consumer spending figures could keep macroeconomic pressure on Bitcoin elevated.
Goldman Sachs to Add Bitcoin and Ethereum ETFs to Its Platform
Goldman Sachs is acquiring NEOS Investments, which manages investment products linked to Bitcoin and Ethereum, in a deal worth up to $2.25 billion. Once completed, the transaction will bring three crypto income ETFs onto the Wall Street giant’s asset management platform.According to Goldman Sachs’ August 12 announcement, NEOS manages $30 billion across 19 ETFs. The acquisition will be financed with cash and equity, with the final consideration subject to certain performance and service commitments. The transaction is expected to close in the first quarter of 2027. It remains subject to regulatory approval and other customary closing conditions.NEOS manages three crypto income ETFsThe acquisition includes three ETFs that provide indirect exposure to Bitcoin and Ethereum prices. According to NEOS’ latest fund data, these products manage approximately $1.29 billion in combined assets.The NEOS Bitcoin High Income ETF (BTCI) is the group’s largest crypto product, with approximately $1.10 billion in net assets. Instead of investing directly in Bitcoin, the fund gains exposure through spot Bitcoin ETFs and other Bitcoin-linked exchange-traded products.The NEOS Boosted Bitcoin High Income ETF (XBCI) manages approximately $111.3 million. The fund uses Bitcoin ETPs and options to target notional exposure equal to roughly 150% of the BTCI strategy.On the Ethereum side, the package includes the NEOS Ethereum High Income ETF. Trading under the ticker NEHI, the fund has approximately $79.2 million in net assets.NEHI does not hold Ether directly. It gains indirect price exposure through Ethereum ETPs and related options, meaning the acquisition will not make Goldman Sachs a direct holder of Bitcoin or Ethereum.Funds target income from Bitcoin volatilityNEOS’ crypto ETFs use options strategies to pursue high monthly distributions. The funds seek to generate premium income by selling call options on Bitcoin- and Ethereum-linked products.As of the end of July, BTCI had an annualized distribution rate of 26.73%. The corresponding rate stood at 40.84% for XBCI and 32.93% for NEHI.However, distribution rates do not represent the funds’ total returns. NEOS states that payments may include option premiums, dividends, capital gains, interest income and return of capital.High distributions have also failed to fully offset declines in crypto prices. Based on market price, BTCI posted a one-year total return of negative 40.95% as of June 30.XBCI, which began trading in February 2026, had lost 29.38% since its launch by the same date. NEHI’s market-price total return since inception stood at negative 42.40%.These figures show that options income does not fully protect investors against sharp declines in Bitcoin and Ethereum prices. Selling call options can also limit the funds’ participation in crypto price gains during rising markets.Goldman Sachs’ ETF platform will reach $130 billionThe NEOS acquisition will strengthen Goldman Sachs’ position in the rapidly expanding active ETF market. The addition of NEOS and the previously acquired Innovator Capital Management will bring the bank’s active ETF assets to $80 billion.Goldman Sachs’ global ETF platform will grow to a combined $130 billion. Once the transaction closes, the company will rank among the eight largest active ETF managers in the United States.According to Goldman Sachs, ETFs that use derivatives to generate income now manage approximately $180 billion. The category has recorded a compound annual growth rate of more than 70% since 2021.NEOS co-founders Troy Cates and Garrett Paolella will join Goldman Sachs Asset Management as partners after the acquisition closes. NEOS’ existing employees are also expected to move to Goldman Sachs.Goldman Sachs expands its crypto ETF plansGoldman Sachs filed with the SEC in April for its first crypto ETF, designed to provide exposure to Bitcoin prices while generating income from options. The NEOS acquisition will give the bank three existing products that use similar strategies and are already trading.The crypto funds account for approximately 4.3% of NEOS’ total $30 billion in assets. The broader active ETF and options-income markets remain the primary focus of the acquisition, although the Bitcoin and Ethereum products are among its most notable components.Once the transaction closes, Goldman Sachs will bring income ETFs linked to Bitcoin, Ethereum, U.S. equities, bonds, gold and real estate onto the same platform. The bank will therefore expand its presence in crypto-linked investment products through an established fund lineup managing approximately $1.29 billion in crypto ETF assets.
SEC Gives Green Light to Franklin Templeton’s Blockchain Fund
The U.S. Securities and Exchange Commission’s Division of Investment Management has made it easier for Franklin Templeton’s traditional funds to invest in its blockchain-based money market fund, FOBXX. The decision could expand the institutional use cases of BENJI tokens, which represent shares in the fund holding approximately $726 million in assets.According to the SEC’s letter dated August 12, the agency’s staff will not recommend enforcement action under the custody arrangement proposed by Franklin Templeton. This means mutual funds and ETFs within the Franklin Templeton fund family can add FOBXX shares to their portfolios if they meet the specified conditions.The decision provides an important example of how custody rules designed for physical securities can apply to fund shares represented on a blockchain. However, the letter does not amount to broad SEC approval for BENJI or introduce a new rule covering all investment companies.Franklin Templeton funds can use BENJIThe Franklin OnChain U.S. Government Money Fund operates under the ticker FOBXX as a government money market fund. It invests primarily in U.S. government securities, cash and repurchase agreements fully collateralized by government assets.Each BENJI token represents one share in FOBXX. According to Franklin Templeton’s product page, the fund aims to generate income while preserving capital and liquidity; it also seeks to maintain a stable share price of $1.Under the arrangement submitted to the SEC, Franklin Templeton funds will be able to use FOBXX for cash management. Potential uses also include investing collateral received through securities lending transactions.Features such as hourly net asset value calculations, intraday trading and faster transaction processing could offer operational advantages over conventional money market instruments.Franklin Templeton will retain control of private keysFranklin Templeton Investor Services maintains FOBXX’s official shareholder records. Its system combines the company’s traditional recordkeeping infrastructure with transaction data recorded on public blockchains.Franklin Templeton will create a separate Stellar blockchain wallet for every fund investing in FOBXX. The company will also retain control of the private keys associated with these wallets.The custody system will use multi-signature technology, multi-party computation and offline recovery capabilities. The transfer agent will be able to correct erroneous or unauthorized transactions, freeze or migrate wallet records and restore official ownership records when necessary.SEC staff found the structure sufficiently similar to existing custody arrangements that use electronic book-entry records instead of physical certificates. The agency also required independent accountants to verify the funds’ holdings at least three times per fiscal year, with at least two of those checks conducted without prior notice.What does the SEC decision mean for tokenization?The decision strengthens the connection between Franklin Templeton’s traditional investment products and its tokenized money market fund. The company’s ETFs and mutual funds will be able to allocate part of their cash balances directly to a blockchain-based fund.BENJI was previously added to an off-exchange collateral program for institutional investors on Binance. The tokenized fund shares have also been integrated with the institutional infrastructure of Kraken parent company Payward and MoonPay.The latest SEC letter opens a different use case from BENJI’s role on crypto platforms. Franklin Templeton’s U.S.-registered traditional funds can now invest directly in FOBXX under the specified custody and oversight conditions.Still, the SEC has not issued a general exemption covering all blockchain-based funds. The no-action letter applies only to the structure and commitments presented by Franklin Templeton; it does not constitute legal approval or a binding regulation.
