The grandees, it seems, are divesting themselves of their tokens at a pace not witnessed since the feverish days of February’s local zenith. One cannot help but wonder if the current stalemate above $2.70 shall hold, or if a deeper chasm awaits, should the buyers’ ardor not rekindle. 💸
The spot ETF netflows for Ethereum [ETH] were predominantly positive since the start of July. Since the start of July, there have been only three days on which the netflows were negative. Of that, two came in August, measuring $617.4 million in sales. The sustained ETF inflows reflect growing demand for Ethereum. Treasury firms, such as SharpLink, continue to add ETH to their holdings, indiscriminate of the asset price.
As if scripted by the omniscient hand of fate, a recent missive from the ever-so-astute Arab Chain on CryptoQuant unfolds before us, revealing foreboding data from the Whale-to-Exchange Flow indicator. It seems our beloved BTC may be facing the dreaded price correction just around the corner-of course, with that sassy hint of sarcasm we’ve come to relish.
According to Saylor, Bitcoin’s charm lies in its ethereal nature. “It’s not physical!” he exclaimed, as though revealing the punchline to a cosmic joke. “No tariffs in cyberspace!” Apparently, gold has been too busy being heavy, slow, and generally inconvenient to keep up with Bitcoin’s intergalactic swagger. “You try shipping gold across an ocean,” he quipped, clearly envisioning a world where pirates are replaced by Excel spreadsheets. “Now you’re getting tariffed!” 😈💸
Behold, a memecoin that doth not merely wish to ride the coattails of Dogecoin or Shiba Inu but seeks to out-fart them all! And oh, what jest is this? They aim to surpass even the mighty BONK and PENGU in hype. Sacré bleu!
Judge Michael “Let-Make-This-Interesting” Fitzgerald stamped “motion approved” on Wednesday faster than you can say “pump-and-dump matzo ball soup.” That means the cases in New York, California, Florida, and (what exit?) New Jersey march on, but a cross-country stampede of angry investors? Denied faster than last year’s NFT fad.
One might have expected the digital world to tremble at such a pronouncement, yet the market for bitcoin, that enigmatic currency of the future, remained as serene as a lake on a windless morning. Despite the tariff tempest unleashed by the Trump administration at the stroke of midnight, bitcoin’s value continued to float around the $116K mark, much as it had done for the past 24 hours, indifferent to the political storms that raged around it.
ETH’s up 8% this week, 50% in a month-yet it’s still 18% shy of its 2021 peak. *Yawn* Priorities, people. But hey, at least it’s not Bitcoin, which is stuck at $116k like it’s 2020 again. 🙄
Market watchers are going nuts, thinking the legendary altcoin season is just around the corner. It’s been a whopping 241 days since the last one-way longer than the usual 66-day gap. Traders are scratching their heads, wondering if this next run will be worth the wait. The Altcoin Season Index (ASI) on blockchaincenter.net acts as a market barometer, showing whether traders are betting on altcoins or sticking with good ol’ bitcoin. It tracks the top 50 cryptocurrencies, but leaves out those boring stablecoins.
Ether hits $4,000 for the first time since December 2024, making everyone in the crypto world do a double-take. 😂
