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Crypto This Week: All Eyes on 30 Key Developments, U.S. Inflation and ECB Decision
Bitcoin started the September 7–13 week at around $79,800. Last Friday’s stronger-than-expected U.S. employment report strengthened expectations for an interest rate hike, while a security incident involving 4,000 BTC on Liquid Network became the first major crypto risk of the week. According to the official report from the U.S. Bureau of Labor Statistics, nonfarm payrolls increased by 162,000 in August, while the unemployment rate remained at 4.1%. A Reuters poll had expected an increase of only 56,000 jobs, while markets pushed the probability of a September rate hike to around 60% after the data.Liquid Network halted after 4,000 BTC was withdrawnAround 4,000 BTC was withdrawn from the federation wallet of Bitcoin-based Liquid Network on September 6 by individuals describing themselves as “white hats.” At Bitcoin’s current price, the assets are worth roughly $320 million.Liquid said the transactions were carried out through SideSwap’s Peg-out Authorization Key and stated that the relevant key had not been compromised. The network halted new transactions and asked exchanges to suspend L-BTC deposits and withdrawals.There is still no confirmed timeline for the funds to be returned or for the network to restart. L-BTC reserves, exchange responses and the on-chain movement of the funds will therefore remain under close watch throughout the week.The incident did not affect the Bitcoin mainnet. The risk is concentrated in Liquid’s federation-managed BTC deposit and withdrawal mechanism.U.S. inflation could influence the Fed’s September decisionU.S. producer prices will be released on Thursday, September 10 at 3:30 p.m. Turkey time. The BLS calendar confirms that the report will cover August.Producer prices were unchanged on a monthly basis in July, while annual PPI declined to 4.7%. The recent increase in oil and refined fuel costs makes energy components particularly important in the August report.Consumer prices will be released on Friday, September 11 at 3:30 p.m. Turkey time. A Reuters survey expects headline CPI to rise 0.4% month over month, while the core index excluding food and energy is expected to increase 0.2%.Annual headline inflation is expected at 3.4%. A separate model estimate from the Cleveland Fed puts August inflation at 3.38% and core inflation at 2.38%.Fed officials have entered the blackout period ahead of the September 15–16 meeting. As a result, markets will focus on PPI, CPI and weekly jobless claims rather than new guidance from policymakers.ECB expected to raise rates by 25 basis pointsThe European Central Bank will announce its interest rate decision on Thursday, September 10 at 3:15 p.m. Turkey time. ECB President Christine Lagarde’s press conference will begin at 3:45 p.m., while new economic projections will be published at 4:45 p.m.The ECB’s official schedule shows that the meeting will take place in Berlin. All 65 economists surveyed by Reuters expect the deposit rate to be increased by 25 basis points to 2.50%.Eurozone inflation rose to 3.3% in August. The ECB’s messaging will be important in determining whether the hike is viewed as a one-off move and how higher energy prices are reflected in its 2027 projections.Oil prices approach $97Brent crude started the week at around $96.85, while U.S. crude traded near $92.10. Iran’s plan to establish a restricted maritime zone around the Strait of Hormuz and renewed attacks in the region have increased the risk premium surrounding energy supplies.Market assessments indicate that elevated diesel and oil prices are once again putting pressure on the global inflation outlook. Persistently high energy costs could strengthen the case for tighter monetary policy from both the Fed and the ECB.China’s August foreign trade data will be released on September 8. A Reuters poll expects exports to increase 25% year over year, imports to rise 30% and the trade surplus to reach $119.05 billion.Harmony considers migrating to EthereumThe Harmony team has proposed shutting down its independent layer-1 network and continuing the ONE token as an ERC-20 asset on Ethereum. The proposal has not yet passed a binding on-chain vote, and a final block date has not been confirmed.According to the published plan, users are being asked to exit liquidity pools and other smart contracts by September 10. Contracts that cannot be migrated directly, multisig wallets and decentralized applications could face risks.Validators will be able to begin shutting down their nodes from 5:00 p.m. Turkey time on September 10. The proposal calls for ONE balances to be recorded at the final block, with new Ethereum-based tokens distributed to the same addresses.There is no separate binding, high-impact DAO vote with a confirmed deadline this week. Harmony’s proposal therefore stands out as the main governance-related development.MultiversX to activate Supernova upgradeMultiversX will activate its Supernova mainnet upgrade on September 10 at around 9:05 p.m. Turkey time. The exact timing could shift by several minutes depending on block and round production.According to the project’s technical schedule, the upgrade will activate at round 32,157,661. Block time will fall from six seconds to 600 milliseconds, while the network will separate consensus from transaction execution.Fractal Bitcoin’s first halving is expected around September 9. The block reward will fall from 25 FB to 12.5 FB, while the project also plans to permanently burn 4.1 million unused FB.Upbit and Bitget to implement delisting decisionsUpbit will end BONK/KRW and BONK/USDT trading on September 7 at 9:00 a.m. Turkey time. According to the exchange’s official announcement, open orders will be canceled, while withdrawals will remain available until October 7.Bitget will close spot margin trading for FIDA, ALT, SATS, BLAST, BLUR, WAVES, BAN, AIXBT, RUNE, EGLD, LPT and GRT on September 10 at 6:00 a.m. Turkey time. Open positions and outstanding liabilities may be automatically liquidated by the exchange.The main spot delisting will take place on September 11 at 1:00 p.m. Turkey time. Bitget’s announcement includes 19 pairs involving VIC, CESS, MAK, VERT, JELLYJELLY, FIDA, BROCCOLI, ALT, SATS, FTT, BLAST, BLUR, WAVES, BAN, AIXBT, RUNE, EGLD, LPT and GRT.Withdrawals for these assets will remain open until December 11 at 1:00 p.m. Turkey time. There is no confirmed high-profile new spot token launch on a major exchange this week.NAME, PUMP and UP supply increases stand outThe largest proportional token unlock of the week will take place for NAME. Tokens worth around $55.67 million will be released on September 9 at 3:00 a.m. Turkey time, equivalent to 74.54% of the token’s current market capitalization.The STABLE unlock, scheduled for around 3:00 a.m. on September 8, will add approximately $24.9 million worth of tokens to supply. PUMP will see around $34.68 million worth of tokens become available on September 12 at 9:00 a.m.Unitas Labs will unlock approximately $11.78 million worth of UP on September 13 at 3:00 a.m. Turkey time. The amount represents 18.62% of the token’s current market capitalization.Aptos is scheduled to release 14.36 million APT on September 12 at 3:00 a.m. According to allocation data, 43.6% of the tokens are assigned to the community, 27.6% to insiders, 19.6% to investors and 9.3% to the foundation.Approximate dollar values for the token unlocks were calculated using current spot prices and will change as prices fluctuate. The weekly calendar also includes around $3.49 million worth of DOS, $3.49 million worth of HOLO and $1.39 million worth of NRS unlocks.Four crypto conferences scheduledBoston Blockchain Week will take place from September 8–10 at the Marriott Boston Quincy. The program focuses on blockchain infrastructure, artificial intelligence and security.Stablecon USA will be held on September 9–10 at National Harbor in the Washington area, bringing together stablecoin issuers, banks and regulators. Stablecoin payments, institutional integration and regulation are among the main topics on the agenda.Crypto Expo Dubai will take place on September 9–10 at the Dubai World Trade Centre. The organizer’s website indicates that the event is proceeding as planned, although regional security developments and flight conditions will remain under close watch.Web3 Warsaw will be held in Warsaw on September 10. The official program includes sessions covering blockchain, gaming, NFTs and artificial intelligence.Robinhood executives will participate in the Goldman Sachs Communacopia + Technology Conference on September 9 at 8:50 p.m. Turkey time. The company’s investor calendar will provide a live webcast of the presentation.There are no confirmed earnings releases this week from Coinbase, Circle or major publicly traded crypto miners. Robinhood’s presentation will therefore be the main corporate event involving a listed crypto-linked company.Crypto calendar: 30 developments to watch this weekSeptember 7: U.S. markets closed for Labor Day.September 7, 9:00 a.m. Turkey time: Upbit ends BONK trading.September 8, around 3:00 a.m.: Approximately $24.9 million worth of STABLE tokens unlock.September 8: China releases August foreign trade data.September 8–10: Boston Blockchain Week.September 9, 3:00 a.m.: Approximately $55.67 million worth of NAME tokens unlock.September 9, 3:00 a.m.: Approximately $1.46 million worth of MOVE tokens unlock.Around September 9: Fractal Bitcoin’s first halving.September 9–10: Stablecon USA.September 9–10: Crypto Expo Dubai.September 10: Web3 Warsaw.September 9, 8:50 p.m.: Robinhood presents at the Goldman Sachs conference.September 10, 3:00 a.m.: Approximately $3.49 million worth of DOS tokens unlock.September 10, 6:00 a.m.: Bitget closes 12 spot margin pairs.September 10, 3:15 p.m.: ECB interest rate decision; press conference at 3:45 p.m.September 10, 3:30 p.m.: U.S. August producer prices.September 10, 3:30 p.m.: U.S. weekly jobless claims.September 10, 5:00 p.m.: SEC meeting on preparations for 24-hour trading.September 10, 3:00 p.m.: Approximately $2.18 million worth of LINEA tokens unlock.September 10, 5:00 p.m.: Planned start of Harmony validator shutdowns.September 10, around 9:05 p.m.: MultiversX Supernova upgrade.September 11, 3:00 a.m.: Approximately $3.49 million worth of HOLO tokens unlock.September 11, 3:00 a.m.: Approximately $1.39 million worth of NRS tokens unlock.September 11, 1:00 p.m.: Bitget removes 19 spot trading pairs.September 11, 9:00 a.m.: U.K. July GDP, industrial production and trade data.September 11, 3:30 p.m.: U.S. August consumer inflation.September 11, 5:00 p.m.: Preliminary University of Michigan consumer sentiment data.September 12, 3:00 a.m.: Approximately 14.36 million APT tokens unlock.September 12, 9:00 a.m.: Approximately $34.68 million worth of PUMP tokens unlock.September 13, 3:00 a.m.: Approximately $11.78 million worth of UP tokens unlock.
Fed Beige Book Warns on Inflation: Rate Risk Remains for Bitcoin
The US Federal Reserve’s latest Beige Book showed that the US economy continues to grow at a modest pace. At the same time, inflation pressures driven by energy and production costs have not fully disappeared.For the crypto market, the main takeaway from the report is once again the Fed’s rate path. A resilient economy and persistent price pressures may support the view that interest rates could stay higher for longer.The Fed’s next policy meeting is scheduled for September 15-16. Markets were pricing in roughly a 65% chance of a rate hike when the Beige Book was released.Fed sees modest economic growthAccording to the Beige Book, economic activity has increased modestly since early July. Ten of the Fed’s 12 districts reported growth.The other two districts said economic activity was unchanged. Consumer spending also moved slightly higher overall.However, consumers became more price sensitive. In particular, higher fuel prices and financing costs limited some areas of spending.The manufacturing sector strengthened across several districts. Orders tied to data center and defense investment supported growth.The labor market presented a more restrained picture. Overall employment increased only very slightly.Three Fed districts reported moderate employment growth. Four districts saw slight increases, while five reported no change.Why do inflation pressures matter?For the crypto market, the most important part of the report was the inflation outlook. The Fed said cost pressures remained strong, especially in manufacturing and construction.Energy, transportation and raw material prices continued to rise. Metals and petrochemical products also pushed business costs higher.The effects of tariffs were still being felt across many districts. Healthcare and insurance costs also added to company expenses.At the same time, rising consumer price sensitivity is limiting businesses. Some firms said they were unable to fully pass higher costs on to customers.The pace of price increases was unchanged in eight Fed districts. It slowed in three districts and accelerated in one.This creates a mixed picture for the Fed. Inflation pressures are still present, while economic activity has not weakened enough to clearly justify a softer policy stance.What does it mean for Bitcoin?Bitcoin and other crypto assets remain sensitive to changes in Fed policy. Higher rate expectations usually support the US dollar and Treasury yields, while reducing the appeal of risk assets.For that reason, the Beige Book’s inflation message may be read as a short-term caution signal for the crypto market. Still, the report alone does not guarantee a rate hike. Fed Chair Kevin Warsh has also recently emphasized inflation as a top priority. He said he wants to see greater confidence that price growth is moving toward the 2% target at a sufficient pace.From here, upcoming US data will be more decisive for market direction. In particular, employment and inflation figures could reshape rate expectations ahead of the Fed’s September 15-16 meeting.The Beige Book, for now, shows that the US economy is still expanding. At the same time, it suggests inflation pressures remain firm enough to keep the Fed from feeling fully comfortable.
ADP Employment in the US Slows to 38,000: What Does It Mean for Bitcoin?
Fresh employment data from the United States pointed to a slowdown in the labor market. According to ADP, private-sector employment increased by only 38,000 jobs in August.The market had expected an increase of 47,000. The July figure stood at 44,000. As a result, job growth missed expectations and also slowed compared with the previous month.Under normal conditions, weak employment data could be seen as supportive for risk assets such as Bitcoin. However, the current market backdrop is more complicated.The US labor market is slowingThe ADP National Employment Report showed that the US private sector created 38,000 new jobs in August.The figure had stood at 98,000 in June. Employment growth then slowed to 44,000 in July, before losing further momentum in August.Recent JOLTS data also showed that companies have become more cautious in hiring. In July, US hiring fell by 278,000, while job openings came in at 7.27 million.Layoffs, on the other hand, have remained low. That means the latest data point to a market where new hiring is slowing, rather than one facing a sharp employment crisis.How could weak ADP data affect Bitcoin?A weaker labor market could be positive for Bitcoin if it reduces the likelihood of the Federal Reserve tightening monetary policy further.Looser rate expectations usually put pressure on US Treasury yields and the dollar. Easier financial conditions can, in turn, create a more favorable liquidity backdrop for Bitcoin and other crypto assets.Still, the August ADP report alone may not be enough to change Fed expectations.Rising energy prices have revived inflation concerns in the United States. Brent crude climbed toward the $95 range, while the US 10-year Treasury yield moved above 4.8%. Expectations of another Fed rate hike have also increased in recent days.Bitcoin, meanwhile, was trading around $77,000 ahead of the ADP release. Despite the rise in global bond yields, the cryptocurrency has recently moved in a range between $76,800 and $81,600. For that reason, the impact of ADP data on Bitcoin should not be assessed in isolation. It makes more sense to read it together with Treasury yields, the dollar, and Fed expectations.The key data point for Bitcoin will come on FridayThe real test for the crypto market on the US employment front will come on Friday, September 4.The US Bureau of Labor Statistics will publish the August employment report at 8:30 a.m. ET. The report will include nonfarm payrolls, the unemployment rate, and wage growth.ADP private-sector data is usually followed as a leading indicator ahead of the official jobs report. However, the two datasets can diverge significantly from month to month.If Friday’s employment data also comes in notably weak, expectations for another Fed rate hike could ease. In that case, the reaction in Treasury yields and the dollar would become even more important for Bitcoin.A strong official jobs report, on the other hand, could reinforce expectations of tighter Fed policy, especially alongside high oil prices. That would likely keep macro pressure on the crypto market.
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 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
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.
U.S. Inflation Data Released: How Did Bitcoin React?
U.S. inflation came in line with expectations in July, prompting only a limited reaction across the crypto market. Bitcoin held near $64,000 following the release but failed to begin a strong rally. Bitcoin was trading at around $63,900 as of 4:30 p.m. Turkish time. BTC was down approximately 0.4% over the previous 24 hours after moving between an intraday low of $63,204 and a high of $64,298.Ethereum hovered near the $1,900 mark. With the U.S. inflation figures matching forecasts, Bitcoin and altcoins avoided a sharp repricing in either direction.U.S. inflation matched expectationsAccording to the U.S. Bureau of Labor Statistics, the Consumer Price Index rose 0.1% month over month in July. Annual inflation eased from 3.5% in June to 3.4%.Market expectations also pointed to a monthly increase of 0.1% and an annual rate of 3.4%. The report therefore did little to change investors’ existing positions on the interest-rate outlook.Core CPI, which excludes volatile food and energy prices, increased 0.2% month over month in July. Annual core inflation slowed from 2.6% to 2.5%.The energy index fell 1.5% during the month, while gasoline prices declined 2.9%. Shelter costs rose 0.1% and accounted for roughly two-thirds of the monthly increase in headline inflation.Despite the slowdown, annual inflation remains above the Fed’s 2% target at 3.4%. This prevented uncertainty surrounding monetary policy from disappearing entirely.Bitcoin remains below $64,000Bitcoin was trading between $63,700 and $64,000 before the inflation report. The price briefly fluctuated following the release but remained within its established trading range.The figures matching expectations contributed to BTC’s muted reaction. A lower-than-expected inflation reading could have reduced the probability of another rate increase more decisively and supported risk appetite across crypto assets.A higher-than-expected result could have pushed U.S. Treasury yields and the dollar higher, placing pressure on Bitcoin. Since the report triggered neither scenario, BTC remained close to $64,000.Bitcoin has traded within a broad range of $62,000 to $66,000 in recent weeks. The inflation report did not provide a strong enough catalyst to push BTC beyond those boundaries.The first resistance levels to watch in the short term are $64,300 and $65,000. If selling pressure increases, attention could return to $63,200, followed by the $62,000 region.Ethereum hovers around $1,900Ethereum traded near $1,900 following the inflation report. ETH moved between $1,855 and $1,919 over the previous 24 hours.Holding above $1,900 will be important for Ethereum’s short-term recovery. If the level is lost, traders could begin watching $1,850 and $1,800 as potential support areas.The broader altcoin market also showed a limited response. Some lower-cap tokens recorded independent gains, but the inflation report did not spark a market-wide wave of buying.Why does the Fed’s decision matter for Bitcoin?Fed funds futures are pricing in an approximately 55% probability that the central bank will leave its policy rate unchanged within the 3.50%–3.75% range at its September 15–16 meeting. That expectation changed only slightly following the inflation report.Keeping rates unchanged could reduce the risk of further monetary tightening for Bitcoin. Higher interest rates and bond yields can draw investors toward yield-bearing traditional assets and weaken liquidity across the crypto market.Expectations of lower interest rates can place pressure on the dollar and Treasury yields, supporting risk assets such as Bitcoin. However, the Fed has yet to signal a rate cut, while inflation remains above its target.The U.S. economy’s loss of 23,000 jobs in July is another factor that could make it harder for the central bank to raise rates. The Fed is now trying to balance elevated inflation against signs of weakness in the labor market.Which data will the crypto market watch next?The next major event for crypto investors will be the U.S. Producer Price Index, due on August 13. Producer inflation can provide information about the cost pressures facing businesses and the possible direction of consumer prices in the coming months.The Fed will also receive August employment and consumer inflation figures before its September meeting. Those reports could shift the balance between a rate increase and another hold.The renewed rise in oil prices is also being closely monitored by the crypto market. If higher energy costs feed into August inflation, concerns about tighter Fed policy could return.Bitcoin’s short-term outlook remains tied to the $62,000–$66,000 range. Although the inflation report helped limit downside risks, a lasting break above $66,000 may be needed before a new upward trend can emerge.
A Critical Night for Bitcoin: $9.6 Billion Awaits the Fed
Bitcoin is searching for direction around $64,000 ahead of the US Federal Reserve’s interest rate decision. Market indicators point to a quiet evening, but the probability of a rate increase and billions of dollars in derivatives positions create conditions for sharp price movements after the announcement.The Fed will announce its interest rate decision at 2:00 p.m. ET. Fed Chair Kevin Warsh will hold a press conference at 2:30 p.m. ET. According to CME FedWatch data, markets assign a 66.3% probability to no change and a 33.7% probability to a 25-basis-point increase.Bitcoin rebounded from support near $62,850 and climbed as high as $64,600 during the day. However, the $65,000–$65,200 range remains the first major obstacle to further gains. Options market points to $64,000Bitcoin’s current price remains close to the level where large options positions are concentrated. Approximately $9.61 billion worth of Bitcoin options will expire on July 31. The calculated max pain level for these contracts stands at $64,000.Max pain refers to the price at which the largest number of options contracts expire worthless. It does not provide a definite price target, but it partly explains why Bitcoin remains confined around $64,000 as the expiration date approaches.Bullish positions are also attracting attention. Investors have built approximately $2.5 billion in call option strategies targeting a move toward $72,000 by the end of the month. Calls also dominate the July 31 expiry, accounting for 116,260 BTC.Investors seek last-minute protectionThe put/call open interest ratio in Bitcoin options fell from 0.76 at the end of June to 0.52. This shift shows that investors hold less downside protection than they did last month.However, puts with strike prices of $62,000, $60,000 and $54,000 led trading volume over the past 24 hours. Overall positioning still favors the upside, but some investors have protected their portfolios against a sudden post-Fed decline.Total open interest across crypto futures remained near $113 billion. Trading volume increased 10% to $205 billion, while the ratio between long and short positions moved close to balance.Low volatility increases the risk of a surpriseBitcoin and Ethereum’s 30-day implied volatility indicators remain near recent lows. In other words, the derivatives market does not expect an unusually large short-term move.This calm stands out ahead of a meeting where the probability of a rate increase exceeds 33%. If the Fed moves against the market’s main expectation, low volume and limited hedging could magnify the price reaction.K33 Research data also shows a slowdown in trading activity. Bitcoin’s average daily spot trading volume fell to approximately $2.2 billion in July. The month is on track to record the lowest volume since November 2023.Critical levels for BitcoinA rate hold accompanied by a softer message from Warsh would direct Bitcoin toward resistance between $65,000 and $65,200. A break above this zone would bring the $65,800–$66,200 range and last week’s $66,700 high into focus.If Warsh signals a September increase despite keeping rates unchanged, the initial rally may lose momentum. Under this scenario, Bitcoin would fall below $64,000 and test support between $62,000 and $62,500.A surprise increase would push the dollar and US Treasury yields higher. Such an outcome would accelerate selling in Bitcoin and Ethereum while triggering liquidations among leveraged long positions. Lower liquidity would expose altcoins to even sharper moves than the leading cryptocurrencies.Bitcoin remained stronger than technology stocks throughout July. Tonight’s decision will provide an important test of whether the crypto market can continue separating from the Nasdaq.
Bitcoin Slips Slightly Ahead of Fed Minutes
The U.S. Federal Reserve will release the minutes of its June 16-17 meeting today, Wednesday, at 2:00 p.m. ET. For those expecting a rate hike in September, the text may offer less than they hope.Chair Kevin Warsh did not share his own rate projection during this period. The post-meeting statement was only 130 words long, and forward guidance was removed entirely. That leaves the minutes as the only detailed record available on the debate inside the committee.A committee split between hawks and dovesThe FOMC held rates steady at a range of 3.50% to 3.75% on June 17. It was the fourth consecutive hold. Nine of the 18 members projected at least one rate hike for 2026, while Warsh did not put forward his own forecast.The committee held this meeting before the Bureau of Labor Statistics released the June jobs report. The report showed only 57,000 new jobs, marking the weakest reading in four months. Any hawkish tone in the minutes may still reflect a labor market that looked strong at the time. The weaker picture emerged only days later.The CME FedWatch tool currently prices the probability of a September rate hike in the 50% to 55% range. Before the weak employment data, that probability stood at 66%. Warsh addressed the issue directly at his press conference. He said inflation had remained above the Fed’s 2% target for more than five years and that this was a burden for the American people, while also adding that the recent past does not have to determine the future.Silence itself becomes the storySince taking office, Warsh has pushed for a simpler communication style. In his view, forward guidance makes the Fed more dependent on markets than on the data it is supposed to respond to.This preference makes Wednesday’s release unusually important, because there is no previous statement text to compare it with. Speaking at the Sintra forum in July, Warsh clarified his stance on inflation: investors should not expect the Fed under his leadership to become comfortable with inflation above 2%.Bitcoin feels the weight of rate uncertaintyCrypto markets are already reacting to this uncertainty. Bitcoin recently slipped to $61,766, losing close to 1%. Ethereum, XRP and Solana also fell between 1% and 2.3%. The sell-off is not driven by rate uncertainty alone. WTI crude futures rose more than 2% to $72.27, while the dollar index held above the 101 level. A stronger dollar and rising inflation expectations are pushing investors toward safer assets such as bonds, while drawing them away from riskier instruments like Bitcoin.If the minutes show how close the hawkish wing came to supporting a rate hike in June, this cautious mood in the crypto market may continue. Signals on the September rate decision will matter not only for bond and currency markets, but also for Bitcoin investors.A Fed led by a chair who prefers silence may leave both stock and crypto investors waiting for real clarity even after Wednesday.
Trump Defends Crypto Earnings: “There Is Nothing Wrong With It”
U.S. President Donald Trump responded to criticism over the high revenues his family earned from the cryptocurrency industry. In an interview with CNBC at the White House, Trump said there was “nothing wrong” with the money made from crypto investments.The debate grew after the U.S. Office of Government Ethics published its annual financial disclosure report. The report, made available on June 30, 2026, includes Trump’s financial disclosures for 2025.According to the disclosures, revenues from crypto ventures linked to Trump’s family exceeded $1.4 billion. This made Trump the largest crypto earner in U.S. politics.Trump’s crypto defenseDuring the CNBC interview, Trump was asked whether he knew about the crypto ventures in question. He responded, “I could know about it. I didn’t.”Trump also argued that there was nothing illegal about the business. According to him, the main goal is to make the U.S. a leader in the cryptocurrency sector.The statement reignited a long-running conflict-of-interest debate in Washington. Before taking office, Trump handed day-to-day control of his businesses to his two eldest sons. However, he did not divest his assets.For this reason, criticism is not focused only on the size of the revenues. The main debate revolves around how clearly the line has been drawn between the presidency and family businesses.Most of the revenue came from crypto projectsAccording to the financial disclosure, Trump’s crypto-linked revenues were concentrated in three main categories. The first was roughly $636 million from a memecoin venture associated with his name. The token was launched just before Trump’s return to office.The second major category came from World Liberty Financial. Around $594 million in revenue was reported from the crypto company, which Trump co-founded with his sons.The third category came from a stablecoin-linked venture. The disclosures showed that revenue from this business was around $197 million.According to Reuters, Trump had previously said he was not directly involved in his financial affairs. He stated that there were funds managing his money and that many people had profited because markets had risen.Revenue debate grows as the market weakensThe scale of Trump’s crypto earnings drew more attention at a time when the market was under pressure. Bitcoin has fallen roughly 50% from the record level above $126,000 it reached in October. The sector also spent the first half of the year under pressure.This picture made the gap between investor losses and revenues from politically linked crypto projects more visible. Some market commentators argue that memecoin revenues in particular are tied to political brand power.That is exactly where the criticism is centered. Trump supporters believe the president is trying to give the U.S. a competitive advantage by supporting the crypto sector. Opponents, however, say the process blurs the line between public office and private profit.Regulation agenda may be affectedThe Trump administration has followed a policy line that is more favorable toward the cryptocurrency industry. This approach has long been welcomed by industry representatives.However, the debate took on a different dimension after the financial disclosure. As the U.S. moves toward crypto regulation, the president’s high earnings from projects linked to his family could increase political pressure.Democrats may bring the ethical dimension of these revenues more forcefully onto the agenda. For Republicans, the issue creates a more delicate balance. On one hand, they want to preserve close ties with the crypto industry. On the other, growing criticism over retail investor losses is putting pressure on the administration.Trump, however, does not appear to be backing down. In his remarks, he defended the revenues as legal and emphasized the goal of U.S. leadership in crypto.For this reason, the debate does not seem likely to fade in the short term. The financial disclosure did more than show the crypto revenues of the Trump family. It also revealed that crypto, politics and ethics debates in the U.S. are now part of the same file.
Weak U.S. Jobs Data Triggers Bitcoin Dip-Buying
The U.S. nonfarm payrolls report came in well below market expectations in July, paving the way for a short-term relief bounce in Bitcoin. According to the data, released one day earlier due to the July 4 holiday, the U.S. economy added only 57,000 jobs in June. Markets had expected an increase of 114,000, while the previous month’s figure stood at 172,000. The unemployment rate was also recorded at 4.2%, instead of the expected 4.3%.Bitcoin was trading around $61,700 when the data was released. According to TradingView data, the cryptocurrency briefly moved higher after the announcement and approached the $62,000 mark, before fluctuating within that range for the rest of the day. The limited price reaction suggests that the market interpreted the weak employment data as a development that could increase the likelihood of a Fed rate cut, but did not price it in with aggressive buying. Kyle Rodda of Capital.com described the nonfarm payrolls report as the most critical data release of the week. According to Rodda, markets had lowered the probability of a rate hike this month from 33% at the beginning of the week to 28%; weak employment figures could reinforce this expectation. It is also worth noting that the Fed kept interest rates unchanged in June for the fourth consecutive time, while rate cut expectations were pushed back to 2027 due to the hawkish stance of new Chair Kevin Warsh.Bitcoin spent most of the week under pressureBefore the employment data, Bitcoin had already been through a difficult week. The cryptocurrency fell to a 21-month low during the week, dropping to $57,800. According to Bitfinex analysts, this marked the fourth time in the cycle that a decline in bond yields and a drop in Bitcoin’s price occurred at the same time; Bitcoin continued to pull back even as the S&P 500 closed the quarter at a record high.Two main groups are behind the selling pressure. Spot Bitcoin exchange-traded funds recorded $4.5 billion in net outflows in June, marking their worst month since their launch in January 2024. BlackRock’s IBIT alone accounted for $3.55 billion in outflows. In addition, Strategy’s board approved the sale of up to $1.25 billion worth of Bitcoin on June 29 to build dollar reserves and meet liabilities. The company’s stock is now trading roughly 30% below the value of the Bitcoin it holds.Despite this, Glassnode analyst Chris Beamish noted that long-term investors have started accumulating again. According to Beamish, buying appetite is spreading across a wide range of participants, from small wallets to entities holding between 100 and 1,000 BTC. However, for the first time during this downturn, the amount of Bitcoin held at a loss has exceeded the amount held in profit; approximately 10.83 million BTC is currently being held below its cost basis.A similar picture is emerging on the Ethereum sideEthereum, meanwhile, recovered from its low near $1,500 and climbed into the $1,600-$1,620 range. Simon-Peter Massabni of XS.com described this move not as a confirmed reversal, but as buying from a technical bottom. Spot ETH funds have seen net outflows for seven consecutive weeks, with total outflows reaching $1.18 billion during this period.In the coming days, the market’s main focus will be how much the weak employment data influences the Fed’s rate decision. For now, whether Bitcoin can break above the $62,000 resistance level on a sustained basis appears to depend on both macro data and the direction of ETF flows.
Trump’s Crypto Wallet Revealed: Eight Different Coins From Bitcoin to LINK
According to the annual financial disclosure report published on Tuesday, U.S. President Donald Trump’s income included hundreds of millions of dollars earned through his family’s crypto company World Liberty Financial, as well as thousands of dollars in investments in companies such as Coinbase and Strategy. The 927-page report, prepared by the Office of Government Ethics, covers a wide investment portfolio ranging from Domino’s Pizza and Costco to Victoria’s Secret, Lockheed Martin and major banks such as JPMorgan.The most striking item in the report was the income generated from World Liberty Financial, which came to light at a time when Congress is debating a comprehensive bill aimed at regulating the crypto sector. Democrats are demanding that an ethics clause be added to the bill, barring the president, vice president, members of Congress and other federal officials from certain cryptocurrency transactions in exchange for supporting the legislation.According to the disclosure, Trump earned more than $65.6 million from the sale of his stake in WLF Holdco and $236.25 million from distributed proceeds from World Liberty Financial’s token sales. The report also listed Bitcoin, Ethereum, USDC, LINK, AAVE, ENA, MOVE and ONDO holdings kept in cold wallets linked to World Liberty Financial, along with roughly $1.8 million in Ethereum staking rewards.Trump’s portfolio also includes an investment of up to $100,000 in crypto exchange Coinbase, as well as multiple investments in Strategy, the company formerly known as MicroStrategy.Vance’s Disclosure Was Much SimplerThe financial disclosure of Vice President JD Vance, released on the same day, was far shorter at just 17 pages. Vance reported holding up to $500,000 in Bitcoin.The Trump administration’s close ties to the crypto sector are once again becoming a point of debate at a time when the regulatory process is shaping a law that directly covers the products of these companies. The fact that World Liberty Financial was founded by the president’s own family and that Trump directly earned income from the company stands out as one of the factors strengthening conflict-of-interest claims.Crypto Lobby’s Rise in WashingtonThis disclosure also highlights how much the crypto sector’s influence in U.S. politics has grown over the past few years. During the 2024 election cycle, crypto companies and investors channeled hundreds of millions of dollars into election campaigns through super PACs, turning the industry into one of the most powerful lobbying groups in Congress.They have also begun to see returns on that investment. The market structure bill being debated in the Senate aims to clarify which regulatory agency will oversee digital assets and to provide exchanges with a more predictable framework.However, the fact that Trump’s own family directly earns income from a crypto company is raising more questions about the neutrality of the bill. World Liberty Financial was founded in late 2024 by a group that included Trump’s sons, Eric Trump and Donald Trump Jr., and quickly raised hundreds of millions of dollars through token sales. The company’s stablecoin, USD1, also drew attention after it began being used in transactions involving some Middle Eastern investment funds.Ethics experts have long argued that it is unprecedented for a sitting president to earn income from the private sector on this scale. Traditionally, presidents have transferred their assets into blind trusts to avoid conflicts of interest. The Trump administration has been criticized for not adopting this practice, and his stake in World Liberty Financial has become one of the clearest examples of that debate.
5 Key Crypto Developments of the Week: MiCA, U.S. Data and the Altcoin Calendar
As July begins, the crypto market is focused on five separate themes: Europe’s MiCA regulation, Robinhood’s new product launch, macro data from the U.S. and Europe, DeFi governance votes and the token unlock calendar. The most critical development is taking place in Europe. The transition period for the European Union’s Markets in Crypto-Assets regulation, known as MiCA, ends on July 1.MiCA becomes a concern for investors in EuropeBinance has withdrawn its MiCA license application in Greece and is now seeking approval from another EU country. This move has temporarily left the world’s largest exchange without a license in the EU. In a statement on the matter, Binance informed its users that it would no longer be able to accept new registrations and that some services would be restricted.Coinbase and OKX, meanwhile, moved quickly. Coinbase CEO Brian Armstrong announced a 5 percent transfer bonus valid until July 13 for users in Germany, France, Italy, Belgium, Poland, Sweden and the United Kingdom. OKX also launched one of the largest welcome campaigns in the company’s history, offering eligible users in the European Economic Area investment matching of up to 8 percent.In an email sent to users, Binance said their assets were safe and would remain accessible at all times. The company says its goals in Europe have not changed and that it is confident it will obtain a MiCA license in the coming months. However, the number of users lost during this period also raises the question of how many of them will return once the license is secured.Robinhood announcementMiCA is not the only item on the agenda. Robinhood will announce new products at its “The World is Flat” event on July 1, where CEO Vlad Tenev is expected to appear alongside Johann Kerbrat, the company’s general manager of crypto. On July 2, tokenization firm Securitize will also begin trading on the NYSE following its SPAC merger.Macroeconomic developmentsThe macro calendar will also be busy this week. On June 30, the U.S. House Price Index and JOLTs job openings data will be released. Market expectations for JOLTs stand at 7.28 million, compared with the previous reading of 7.618 million.On July 1, the eurozone’s preliminary inflation data for June will be published, with expectations at 3 percent, down from the previous 3.2 percent. On the same day, markets will follow U.S. ADP employment data, the ISM manufacturing PMI and Fed Chair Warsh’s speech at the European Central Bank forum.The most important data of the week will arrive on July 2, when nonfarm payrolls, the unemployment rate and weekly jobless claims will all be released on the same day. Markets expect nonfarm payrolls to come in at 114,000 and the unemployment rate at 4.3 percent. The previous nonfarm payrolls figure was 172,000, so the expected decline is quite sharp.What is happening in the altcoin market?The DeFi agenda is also far from quiet. Aave DAO has opened voting on a proposal to upgrade the Pendle PT risk oracle infrastructure to an automated system; the vote closes on June 30. The Arbitrum community is discussing a proposal to halt new investment activities by Arbitrum Gaming Ventures and limit the initiative to its existing portfolio, with excess capital planned to be returned to the treasury.Aavegotchi has also put forward a proposal to transfer the protocol’s intellectual property from Pixelcraft Studios to the AavegotchiDAO Foundation. The Redbelly Network community is evaluating a proposal to suspend the activities of its DAO until the ecosystem becomes more mature.On the token unlock calendar, EigenCloud will release 2.91 percent of its circulating supply into the market, worth approximately $8.44 million. MemeCore will unlock 0.56 percent of its supply, valued at $36.25 million. There are no scheduled token launches for this week.On the conference calendar, the Global Blockchain Show 2026 will take place in Riyadh on June 29-30, while Stablecoins Unblocked will be held in London on July 1.
Critical U.S. Data Released: How Were Bitcoin and Altcoins Affected?
The core Personal Consumption Expenditures (PCE) price index, the inflation gauge most closely watched by the Federal Reserve, rose 3.4% year-over-year in May. The data released by the U.S. Bureau of Economic Analysis (BEA) came in line with market expectations, but the figure marked the highest level since October 2023. Headline PCE reached 4.1% on an annual basis.The core index, which excludes food and energy prices, is one of the key indicators the Fed monitors when making interest rate decisions. The fact that the May reading increased compared with April could strengthen the central bank’s message that its “job is not done yet” on inflation.What changed in income and spending?Personal income increased by 0.7% month-over-month in May, rising by $181.6 billion. Disposable personal income, which refers to income after taxes, also rose by 0.7%, increasing by $164.9 billion. The increase was mainly driven by higher farm proprietors’ income and wage payments.On the consumption side, personal spending increased by 0.7% month-over-month to $156.1 billion, while the market had expected a 0.6% rise. The April figure was also revised down from 0.5% to 0.4%. Of the increase, $94.3 billion came from services spending, while $61.8 billion came from goods spending. Real PCE, adjusted for inflation, rose 0.3% on a monthly basis.Personal savings stood at $704.2 billion in May, while the personal saving rate was 3% of disposable income. Total personal outlays increased by $159.9 billion. On a monthly basis, headline PCE rose 0.4%, while core PCE increased by 0.3%.Why does this matter for Bitcoin?Bitcoin (BTC) continues to decline under pressure from the Fed’s hawkish tone, consecutive outflows from spot ETFs, thinner market liquidity during the summer period and quarterly options expiries set to end on June 30. Although expectations have strengthened that a U.S.-Iran agreement could lead to lasting peace in the Middle East, the inflation risk stemming from energy prices remains on the table.At its June meeting yesterday, the Fed kept interest rates unchanged in line with expectations. While the central bank said it was prepared to act in either direction depending on inflation risks, hawkish signals from officials drew Wall Street’s attention. Some investors even began positioning for the possibility that the Fed could raise interest rates again this year after those signals.The May PCE data, which matched expectations, did not create a surprise strong enough to change the short-term outlook. However, the fact that the core index climbed to its highest level since the fall of 2023 shows that the pace of disinflation has slowed. Markets will now focus on employment data ahead of the July meeting and next month’s PCE reading. On the crypto side, persistently high inflation remains one of the factors limiting risk appetite and fueling selling pressure on Bitcoin.
