Bitcoin is showing signs of exhaustion, suggesting a deeper correction toward the $110,530 support. Will altcoins follow? Key points: Bitcoin is showing a negative divergence on the charts, signaling a weakening in bullish momentum. Buyers need to maintain Ether above $4,094 to retain the upper hand. Read more
Bitcoin buy signals may emerge from bond market stress, but whale investor activity and dormant coins raise short-term volatility risks. Key takeaways: Bond market stress has historically aligned with Bitcoin cycle bottoms and could signal new buy opportunities. US debt surpassing $37 trillion and elevated 10-year yields point to macroeconomic pressures that may favor Bitcoin in Q4. Read more
BitMine and SharpLink, the two largest corporate holders of ETH, have been racing to accumulate more Ether as ecosystem interest heats up. BitMine Immersion Technologies, a publicly traded Bitcoin (BTC) mining company, has added 373,000 Ether (ETH) tokens to its treasury in the past week, bringing its holdings of the world’s second-largest cryptocurrency to 1.52 million tokens worth $6.6 billion. The move comes as the Ethereum ecosystem has seen renewed interest. However, BitMine’s share price has suffered as the company has added more ETH to its treasury. According to Google Finance, BitMine shares have dropped 14.2% since Aug. 11, the same period during which it has bolstered its Ether holdings. BitMine Chairman Thomas Lee said in a statement that the company increased its Ether holdings as “institutional investors have expressed interest” in its ETH accumulation strategy. This strategy is known as the “alchemy of 5%” in which BitMine hopes to acquire 5% of the circulating Ethereum supply. Read more
Bitcoin and Ether draw late shorts as price action begins to target liquidation clusters after a cross-crypto price drawdown. Key points: Bitcoin attempts a rebound into a cluster of shorts as market expectations flip bearish on BTC and altcoins. Speculative ETH traders form the largest-ever leveraged short postion, per data from CME Group. Read more