Bitcoin and Ether ETFs saw outflows on Friday after the Fed reported rising core inflation, driven in part by Trump’s tariff policies.

El Salvador has transferred its 6,274 Bitcoin into 14 new wallet addresses as part of a security measure to protect against the threat of quantum attacks.

XRP’s slow push into institutional finance just picked up another backer.

Data-focused blockchain firm Flare announced on Friday that Everything Blockchain Inc. (OTC: EBZT), a U.S.-listed company, has signed a memorandum of understanding to adopt its XRP finance (XRPFi) framework for corporate treasury yield.

The move comes months after Nasdaq-listed VivoPower International PLC (NASDAQ: VVPR) committed $100 million in XRP to Flare’s ecosystem, making EBZT only the second public company to do so.

The agreements mark early steps in Flare’s effort to turn XRP — historically a non-yielding asset — into a productive instrument for institutions.

At the center of the framework is Flare’s “FAssets” system, a trustless bridge that gives smart contract functionality to tokens like XRP and bitcoin. Combined with Firelight, Flare’s restaking layer, the setup lets companies convert XRP into FXRP and allocate it across decentralized lending, staking and liquidity protocols.

“XRP, now a roughly $150 billion asset, has been a cornerstone of digital finance for more than a decade, yet institutions have had few ways to make it productive,” said Hugo Philion, Flare’s co-founder and CEO.

“Flare changes that by enabling a compliant, on-chain, non-custodial yield framework designed for corporate treasuries. With VivoPower and now Everything Blockchain, public companies are validating that XRPFi is not just a concept but an emerging institutional standard,” he added.

EBZT framed its decision as part of a broader shift in how public companies treat blockchain assets.

“This is about unlocking the true financial utility of digital assets like XRP, not just as speculative holdings, but as yield-bearing instruments that can compound over time,” said Arthur Rozenberg, the company’s CEO. “Flare gives us the rails to do this in a way that meets the governance, security, and auditability standards required of public companies.”

For now, the XRPFi push remains small in dollar terms relative to bitcoin or ether-based treasury pilots.

But two listed companies publicly adopting the model in under a year gives XRP a new narrative: less about speculation, more about yield, and potentially a step toward more mainstream corporate balance sheets.

Stellar’s native token XLM came under heavy institutional selling pressure in the latest trading session, falling from $0.39 to $0.36 between August 28 at 3:00 p.m. and August 29 at 2:00 p.m. ET. Market data shows more than 41.89 million XLM changed hands, with volumes surging as large holders reduced exposure.

Despite the pressure, Stellar’s enterprise push remains intact. The Stellar Development Foundation reported the network is approaching 10 million registered accounts, boosted by daily growth of 5,000–6,000 new corporate wallets. Strategic partnerships with MoneyGram International and Circle Internet Financial continue to drive adoption of Stellar’s payment rails in cross-border finance.

Analysts highlighted sharp intraday swings on August 29, when XLM dropped 1.38% between 1:26 p.m. and 2:06 p.m., before institutional buyers reentered the market. The token recovered 1.27% during the 15-minute window that followed, closing the session at $0.361 after briefly touching $0.357.

A spokesperson close to Stellar’s corporate strategy stressed that the market turbulence was sentiment-driven rather than a reflection of business fundamentals. The late-session bounce suggested some large buyers viewed the decline as a buying opportunity, underscoring confidence in Stellar’s long-term role in blockchain-based financial infrastructure.

Technical Market Indicators Signal Mixed Corporate Sentiment

• XLM posted a 7.74% decline from $0.39 to $0.36 during the August 28-29 trading period.
• Daily trading range reached $0.031 between session high of $0.387 and low of $0.356.
• Peak selling activity occurred during morning European trading hours on August 29 with volume exceeding the 24-hour average of 41.89 million units.
• Technical resistance established near $0.373 level as institutional buyers remained cautious.
• Support levels identified at $0.375 and $0.362, with the lower threshold showing stability during final trading hours.
• Elevated trading volume during the decline indicates potential institutional accumulation strategies.
• Intraday price range of $0.005 during the final 60-minute trading period demonstrates continued market interest.
• Support at $0.357 attracted institutional buying interest before session close.
• Final hour recovery of 1.27% on volume exceeding 2 million units suggests corporate treasury departments may be accumulating positions.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

El Salvador's move highlights growing concerns over quantum computing's potential to disrupt cryptographic security in financial systems.

The post El Salvador relocates Bitcoin reserve into multiple wallets to reduce exposure to quantum attacks appeared first on Crypto Briefing.

Grayscale filed S-1s for Polkadot and Cardano ETFs, expanding its altcoin lineup after earlier 19b-4 filings with Nasdaq and NYSE Arca.

The post Grayscale files for Polkadot and Cardano ETFs following earlier 19b-4 moves appeared first on Crypto Briefing.

Ethereum (ETH) exchange-traded funds (ETFs) are set to close August 2025 with total net inflows exceeding $4 billion, significantly outpacing their Bitcoin (BTC) counterparts, which recorded more than $600 million in outflows during the same period.

Ethereum ETFs Outshine Bitcoin ETFs

According to data from SoSoValue, spot Ethereum ETFs have attracted $4.04 billion in net inflows so far this month. In contrast, spot Bitcoin ETFs saw $628 million in net outflows in August.

Among Ethereum-focused funds, BlackRock’s ETHA ETF leads the market with $16.88 billion in net assets as of August 28. Grayscale’s ETHE follows with $4.80 billion, while Fidelity’s FETH holds $3.56 billion. 

The total net assets tied in spot ETH ETFs currently stands slightly above $29.5 billion. This figure represents almost 5.5% of Ethereum’s total market cap.

On the Bitcoin side, BlackRock’s IBIT remains the leader with $83.8 billion in net assets, followed by Fidelity’s FBTC at $22.45 billion and Grayscale’s GBTC at $20.01 billion.

Although BTC ETFs still dominate in overall value, the latest data suggests the gap between Bitcoin and Ethereum investment products is narrowing. If the current momentum continues, August 2025 could mark the month when ETH ETFs outperformed BTC ETFs by their widest margin yet.

One of the major factors driving Ethereum ETF inflows is ETH’s growing appeal as a balance sheet asset. Corporate adoption of ETH has accelerated this year, bolstering confidence in its long-term role in institutional portfolios.

This year, several notable companies announced plans to add ETH to their balance sheets. For instance, SharpLink Gaming recently doubled down on its ETH bet, adding another 56,533 ETH to enhance its ETH reserves.

Similarly, ETHZilla – an Ethereum treasury company – recently increased its total ETH holdings to more than 102,000 ETH. Data from CoinGecko shows that, currently, BitMine is the leading publicly-listed company with the largest ETH reserves – holding over 1.7 million ETH.

Will ETH Surge Past $5,000?

Institutional sentiment toward ETH continues to strengthen. VanEck CEO Jan van Eck recently described ETH as “the Wall Street token,” highlighting its growing role in enabling stablecoin transfers across financial institutions.

Despite its recent rejection from close to $5,000, the overall demand for ETH remains vehemently strong. As a result, ETH reserves on exchange continue to dwindle at a rapid pace, which may lead to quick price appreciation for the digital asset in the near-term. At press time, ETH trades at $4,340, down 4% in the past 24 hours.

Following the recent regulatory developments in Hong Kong, Asia’s largest oil and gas producer, PetroChina, is reportedly evaluating the adoption of stablecoins for cross-border payments.

PetroChina Considers Stablecoin Adoption

On Friday, local news media outlets reported that PetroChina, the listed arm of state-owned China National Petroleum Corporation (CNPC), will explore cross-border settlement and payments using stablecoins.

According to the reports, Wang Hua, Chief Financial Officer (CFO) and Board Secretary of PetroChina, disclosed during the half-year meeting that the company is closely monitoring the latest developments regarding the Hong Kong Monetary Authority’s (HKMA) Stablecoin Ordinance.

In May, Hong Kong’s Legislative Council officially passed the new Stablecoins Ordinance, directing any individual or entity seeking to issue a fiat-referenced stablecoin (FRS) in the jurisdiction, or any Hong Kong Dollar (HKD)-pegged token, to obtain a license from the HKMA.

The ordinance, enacted on August 1, aims to reinforce regulatory oversight on the digital assets industry, while fostering innovation and “responsible, sustainable” development. Under the new framework, licensed entities are allowed to offer FRS in Hong Kong. Meanwhile, retail investors can access the tokens issued only by these qualified institutions.

Hong Kong’s Financial Secretary, Paul Chan Mo-po, previously noted that stablecoins, “particularly when it is referenced to fiat currencies, (have) many use case scenarios,” including cross-border payments to enhance efficiency and reduce costs.

PetroChina will reportedly initiate a viability study on the use of stablecoins for cross-border settlement and payments, marking the Chinese energy giant’s entry into the digital assets landscape under Hong Kong’s new regulatory framework.

HK, China Crypto Landscape

As the report noted, Wang Hua didn’t disclose a specific timeline, only stating that the company would “closely monitor policy developments and build technical capabilities.” This could suggest that PetroChina’s stablecoin exploration remains in the research phase.

It’s worth noting that the HKMA established a six-month transition period and encouraged interested institutions to submit applications before September 30. Hong Kong’s Financial Secretary has stated that regulators received several applications from entities seeking to become qualified issuers.

Previous reports revealed that multiple companies have applied for the HKMA license ahead of the ordinance enactment, including logistics technology firm Reitar Logtech and the overseas arm of Chinese mainland financial technology giant Ant Group.

Meanwhile, e-commerce giant JD.com, through its fintech arm JD Coinlink, was testing HKD-pegged tokens under the regulator’s sandbox program earlier this year. Despite Hong Kong’s crypto push, authorities have warned about the excessive hype in the market and public opinion, raising concerns over a developing trend toward speculation as the market has become “overly enthusiastic.”

Similarly, Chinese regulators have allegedly instructed firms to halt promotions and research publications related to stablecoins amid concerns that the growing interest in the sector could enable the digital asset to be exploited as a new tool for fraudulent activities.

Nonetheless, Eric Trump, son of US President Donald Trump, recently highlighted China’s role in the crypto industry. At Bitcoin Asia 2025, the American businessman affirmed that the country is a “hell of a power” in the sector, adding that the US and China likely understood digital assets “better than anyone else in the world.”

“There’s no question that China is a hell of a power when it comes to this world,” Trump said, stating that he would love for President Trump and his Chinese counterpart, Xi Jinping, to talk about Bitcoin.

Bitfinex-backed Plasma announced a strategic partnership with EtherFi on Aug. 29, positioning the stablecoin-focused neobank as a day-one launch partner for the blockchain’s mainnet beta.

EtherFi will transfer over $500 million from its Ethereum (ETH) staking vault to Plasma’s platform, providing liquidity for stablecoin-backed yield strategies.

The collaboration integrates EtherFi across Plasma’s DeFi ecosystem, providing users with additional collateral options for lending and borrowing while offering access to ETH-backed yield products.

Plasma’s announcement emphasized how the partnership complements both platforms’ objectives in the stablecoin infrastructure space. The protocol stated:

“Stablecoins give everyone, everywhere permissionless access to the financial service of saving money safely and reliably.”

EtherFi is the sixth-largest DeFi protocol, with a total value locked of over $11 billion as of Aug. 29. The protocol reached an all-time high of nearly $12.6 billion on Aug. 14.

Stablecoin-focused infrastructure

Plasma operates as a Bitcoin sidechain with full Ethereum Virtual Machine (EVM) compatibility, engineered specifically for stablecoin payments and cross-border transactions.

The platform offers zero-fee USDT transfers through a dual-validator architecture that processes gasless transactions.

Recent market activity demonstrates significant institutional interest in Plasma’s approach. The platform raised $1 billion in deposits within 30 minutes during its June expansion, with 70% of funds concentrated among the top 100 wallets according to analytics firm Sealaunch.

Initial deposits in June totaled $500 million, with over 1,100 participating wallets.

Further, Plasma is backed by high-profile names. The protocol $24 million funding round attracted backing from Framework Ventures, Bitfinex, Peter Thiel’s Founders Fund, and Tether CEO Paolo Ardoino.

DeFi ecosystem integration

The EtherFi partnership extends beyond simple vault migration. Plasma users will be able to leverage EtherFi’s liquid staking tokens as collateral while accessing stablecoin features, including custom gas tokens and confidential transactions.

Additionally, the partnership positions both platforms to capture the growing demand for stablecoin infrastructure as the sector surpasses a total supply of $280 billion.

Former BitMEX CEO Arthur Hayes recently noted that EtherFi is one of three DeFi protocols that could capture significant value from the expansion of US dollar-pegged stablecoins.

EtherFi’s commitment to move $500 million in ETH staking assets represents confidence in Plasma’s technical architecture and market positioning within the expanding stablecoin ecosystem.

The post Bitfinex-backed Plasma secures EtherFi partnership with $500 million ETH vault integration appeared first on CryptoSlate.

Tether abandoned plans to freeze its dollar-pegged USDT tokens on several older blockchains and is choosing instead to classify them as “unsupported,” according to an Aug. 29 statement.

The change applies to networks such as Bitcoin Cash, Kusama, EOS, and Algorand, among others. Users will still be able to move tokens across wallets, but Tether will no longer issue or redeem USDT on those platforms.

The shift came after weeks of community pushback over the company’s original plan, which would have locked tokens in place and left them non-transferable.

‘Unsupported’ classification

In June, Tether had outlined a transition that would begin Sept. 1, 2025, with all USDT on the affected blockchains frozen and excluded from redemptions.

The move was framed as a way to streamline operations by cutting off support for networks that accounted for a negligible share of the stablecoin’s activity. Under that plan, tokens would have remained visible on-chain but effectively stranded without any movement or redemption path.

Following sustained criticism from developers and users on smaller ecosystems like EOS and Algorand, Tether retreated from a hard freeze. The firm said the revised approach “aligns with its broader strategy” while avoiding reputational damage.

The compromise allows Tether to wind down low-volume chains without provoking backlash from users who would have been locked out of their assets.

Pivot toward Bitcoin

The announcement came just one day after Tether disclosed plans to issue a native USDT on Bitcoin using the RGB protocol.

Unlike wrapped tokens that rely on custodial bridges, RGB integrates directly with Bitcoin’s scripting and client-side validation, making USDT part of the Bitcoin ecosystem’s security model.

USDT remains most heavily concentrated on Ethereum and Tron, each with more than $80 billion in circulation, alongside smaller footprints on Solana and a few other networks.

The decision to drop support for legacy chains signals tightening resources on platforms with higher adoption while staking new ground on Bitcoin.

The post Tether abandons plan to freeze USDT on legacy crypto networks, classifies them ‘unsupported’ appeared first on CryptoSlate.

World Liberty Financial, a DeFi venture connected to President Donald Trump, is preparing to extend its USD1 stablecoin to the Solana blockchain.

On August 29, Charles, who heads the venture’s Solana ecosystem strategy, announced that the move would happen “sooner than you think.”

USD1 Prepares to Enter Solana’s $12 Billion Stablecoin Market

The Trump-related DeFi venture co-founder Zach Witkoff later echoed the message in an X post, saying:

“Solana here we come.”

At the same time, the company’s official X account also published an image of its logo rebranded in Solana’s signature green and purple colors.

Indeed, independent blockchain analysts had already spotted early signs of the move.

On August 28, Dumpster Dao, a research collective, reported that a wallet tied to World Liberty Financial deployed a Chainlink CCIP program on Solana to bridge its WLFI token.

A day later, the group traced activity suggesting that integrations with major Solana protocols like Kamino were underway.

According to Dumpster Dao, Kamino Finance — Solana’s largest lending platform — has set up a dedicated USD1 vault.

The vault’s deployer address matched details found in Kamino’s documentation. On-chain flows also showed the stablecoin moving from Kamino’s multisig wallet back to the WLFI deployer on Solana.

These details suggest that the rollout is progressing beyond announcements into technical implementation.

Meanwhile, this expansion comes as Solana’s stablecoin market capitalization has surged past $12 billion. This is its highest level in nearly four months.

According to DeFillama data, Circle’s USDC dominates the chain with $8.7 billion in supply, followed by Tether’s USDT at $2.17 billion.

Market analysts argue that additional liquidity from USD1 could strengthen Solana’s DeFi markets by supporting lending, settlement, and trading activity.

World Liberty Financial’s USD1, pegged to the US dollar and backed by Treasuries and cash equivalents, has already been deployed on Ethereum, BNB Chain, and TRON.

Over the past months, the stablecoin has quickly gained traction with crypto exchanges Binance and Bullish using it in their separate investment deals.

This level of adoption has helped push the digital asset to rank among the top six stablecoins in the industry. Its circulating supply is near $2.5 billion, most of it concentrated on BNB Chain.

The post World Liberty Financial Signals Imminent Solana Rollout for USD1 Stablecoin appeared first on BeInCrypto.

Elon Musk’s longtime attorney Alex Spiro has been named chairman of a new Dogecoin (DOGE) digital asset treasury (DAT) seeking to raise at least $200 million, according to a Fortune report on Friday that cited people familiar with the matter.

The initiative, currently being pitched to investors, would create a publicly traded company designed to accumulate Dogecoin on its balance sheet. Investors are closely watching whether the initiative could act as a catalyst for Dogecoin’s price appreciation.

Celebrity Lawyer’s Meme Coin Treasury Effort

Spiro, a partner at Quinn Emanuel Urquhart & Sullivan, has been identified in investor materials as the planned chairman of the new entity. He has represented Musk in numerous high-profile cases and previously worked with celebrity clients such as Jay-Z and Alec Baldwin.

The Doge project, backed by House of Doge and launched in early 2025, is being marketed as the next major push for mainstream Dogecoin adoption. While aiming to raise $200 million, the Doge treasury has yet to disclose details about its launch date or strategy.

Meanwhile, Dogecoin traded at $0.214 on Friday, down 4.8% over the prior 24 hours. That price represents a decline of roughly 52% from the one-year high of $0.446.

Dogecoin has remained range-bound since mid-March, fluctuating between $0.15 and $0.25.

Doge Treasury Firms Emerge, But Struggle With Performance

The rise of token-focused corporate treasuries has become one of the biggest crypto phenomenon in 2025. Several Nasdaq-listed firms have rebranded or shifted their business models to accumulate cryptocurrencies such as Solana, SUI, Toncoin, and World Liberty Financial’s WLFI governance token.

Michael Saylor’s MicroStrategy remains the most prominent DAT, with nearly $70 billion in Bitcoin holdings. The model has inspired other companies to follow suit.

Dogecoin-specific efforts are beginning to emerge. In July 2025, Nasdaq-listed Bit Origin announced it had secured up to $500 million in equity and debt financing to launch a corporate Dogecoin treasury.

Earlier in the year, Vancouver-based Neptune Digital Assets acquired 1 million Dogecoin through a strategic derivative purchase at an average of $0.37 per token, along with 20 Bitcoin to diversify its portfolio.

However, the share performance of these companies has so far remained weak. Bit Origin’s stock (BTOG) climbed to a peak of $1 on July 18 but had fallen to $0.39 by the close on August 29. 

Neptune Digital Assets (ticker NDA) lists on Canada’s TSX Venture Exchange, and also trades internationally via OTC (ticker NPPTF) and Frankfurt’s Xetra exchange (ticker 1NW). 

The company’s Canadian-listed shares (NDA • CVE) reached a peak of C$2.78 earlier this year. But since February, the price fell around 62%.

Quiet ‘Dogefather’ Musk Keeps Distance From Doge

Elon Musk, often referred to by supporters as the “Dogefather,” has long been associated with Dogecoin. His public remarks have historically moved the token’s price.

Recently, however, he has made no significant statements about Dogecoin itself. Instead, he continues to outline his vision of transforming X into a super app with integrated payments.

Investors are watching closely, with many expecting Dogecoin could play a role in those future plans.

The post Elon Musk’s Lawyer To Chair $200 Million DOGE Treasury Company appeared first on BeInCrypto.

Bitcoin fell to its lowest levels since July 8 after Wall Street opened on Friday, with prices sliding and traders scrambling to reassess short-term plans.

According to CoinGlass, 24-hour crypto liquidations neared $540 million as selling pressure intensified on major exchanges.

Whales And Exchange Distribution Pressure

Based on reports from market watchers, heavy selling by large holders helped push the drop. Distribution on Binance was highlighted by traders as a key factor that worsened losses.

Bitcoin lost nearly 5% on the day, and some large accounts were linked to the wave of sales that triggered stop orders and quick exits.

Popular trader Daan Crypto Trades pointed to a “key reversal zone” around recent ranges and consolidation levels.

Some experts had similar price levels on his radar, noting that Bitcoin failed to turn $112,000 into support. Other voices in the market flagged $114,000 as an important weekly close threshold for bulls.

Bullish RSI Divergence Keeps A Sliver Of Hope

Technical watchers found one bright spot. According to crypto commentator Javon Marks, the four-hour chart still shows a bullish RSI divergence — a pattern where the RSI makes higher lows while price makes lower lows. That setup can hint at an early reversal.

$BTC Good area to keep watching. Right on top of the previous range & consolidation area. https://t.co/WEaG2IF6nV pic.twitter.com/Y7RftSqDio

— Daan Crypto Trades (@DaanCrypto) August 29, 2025

Marks argued Bitcoin could stage a rebound. He suggested a move back toward $123,000 is possible, which would be roughly a +14% jump from current levels. That projection is optimistic, and it rests on momentum flipping quickly in favor of buyers.

Seasonality and macroeconomic data added pressure. September has historically been one of Bitcoin’s weaker months, and investors were watching US inflation readings closely.

The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures index, matched expectations and showed signs of an inflation rebound.

Still, the CME Group’s FedWatch Tool showed markets pricing in rate cuts in September, a factor that could help risk assets like crypto if it holds.

Reports have disclosed that traders are focused on a narrow set of price markers. If Bitcoin can reclaim $112,000 and hold a weekly close above $114,000, bulls would gain breathing room.

If those levels fail, more downside is possible and short-term traders could face further liquidations.

For now, the market looks tight. Some technical signals point to a rebound, but macro data and big sellers are keeping the mood cautious.

Traders and investors alike are watching both price action and economic prints closely as the US heads toward key data and the Fed decision window on Sept. 17.

Featured image from Unsplash, chart from TradingView

After a short-lived recovery, Bitcoin (BTC) is attempting to bounce from a crucial level to reclaim the $110,000 support. However, some analysts suggest that a retest of the $90,000 level could be the next stop for the cryptocurrency.

Bitcoin Drops To Weekly Lows

Bitcoin lost the $110,000 support for the first time in nearly two months, dipping below the lower boundary of its local range, between $108,700-$119,500. The flagship crypto hit an eight-week low of $107,900 on Friday afternoon, raising concerns for its short-term rally among investors.

Crypto analyst Ali Martinez suggested that the market is starting to show signs of fatigue, with Bitcoin Dominance displaying cracks after carrying “the bulk of the bull market momentum.”

To the analyst, BTC’s current price action signals a macro trend shift, mirroring the 2021 price action and the conditions that preceded the 2021 cycle peak. At the time, the cryptocurrency hit a peak of $60,000 in April, retraced, rallied to $70,000, and set a strong bearish divergence against the Relative Strength Index (RSI) before the bear market began.

This time, Bitcoin is showing the same setup that foreshadowed the end of the last cycle, with price making higher highs while the RSI makes lower lows, Martinez explained.

Among other technical signals, the analyst highlighted that the MACD indicator had turned bearish this week. He detailed that this bearish crossover aligns with the price drop and reinforces the downside risks.

Meanwhile, he added that the recent death cross in the Bitcoin MVRV Momentum indicator “signals a macro momentum reversal from positive to negative. This is a historically reliable warning sign of cyclical tops.”

The analyst affirmed that the on-chain evidence suggests Bitcoin’s top may be in, at least temporarily, with bias shifting bearish and a risk of retesting lower support levels.

Will BTC Mirror Its 2021 Drop?

Martinez also noted that the $108,700 support is crucial for BTC’s short-term performance, as a weekly close below this area would confirm a deeper trend shift, which occurred in 2021.

After peaking in late 2021, the flagship crypto lost its local range above the $58,000 mark, which led to a retest of the macro range’s mid-zone and an eventual drop below the macro range’s lows in the coming months.

If BTC loses its immediate technical floor, the price could retest the $104,500 and $97,000 support levels, risking a drop to the mid-zone of the macro range, around the $94,000 area.

Altcoin Sherpa weighed in on the cryptocurrency’s performance, stating that Bitcoin should have strong support between the $103,000-$108,000 levels, as the 200-day Exponential Moving Average (EMA) sits around the $104,000 mark.

However, analyst Ted Pillows considers that $124,000 appears to be the local top. He explained that, historically, Bitcoin’s bottoms occur after a retest of the weekly 60 EMA, which currently sits around the $92,000 support zone and has a CME gap.

“In this scenario, Bitcoin will start a reversal after 3-4 weeks and a new ATH by November/December,” Ted concluded.

As of this writing, Bitcoin trades at $107,947, a 7.5% decline in the weekly timeframe.