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Whale Revives Profit-Taking Concerns as Bitcoin Holds Flat: Crypto Daybook Americas

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2 месяца ago

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By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin’s Asian session bounce from $117,500 ran out of steam near $119,200 during European hours, extending two weeks of directionless trading. The CoinDesk 20 (CD20) Index traded 1.4% lower over 24 hours, with the broader CD80 gauge reporting a 4.6% decline, indicating pronounced weakness in altcoins.

Against the background of a flat BTC market, the awakening of long-dormant bitcoin whale wallets is raising concerns about potential profit-taking by seasoned investors. According to Whale Alert, an address that was dormant for over 12 years moved 343 BTC in early Asian hours.

Meanwhile, Ethereum Treasury protocol ETH Strategy, designed to provide leveraged exposure to ether, raised 12,342 ETH ($46.5 million) in its prelaunch funding. The fundraising operation targeted a diverse range of investor profiles through private and public sales, as well as puttable warrants.

Speaking of ether, its recent rally has sparked renewed enthusiasm in risky corners of the crypto market, including CryptoPunks, the Ethereum-based 10,000-piece pixel-art NFT collection. The floor price for CryptoPunks topped $200,000 for the first time in over a year, marking a 160% growth since August last year. (More on this in the Token Talk section).

Futures tied to Solana-based joke token FARTCOIN witnessed large liquidations Monday as the token’s price dropped over 10%. The long liquidations tallied $11.39 million, the largest for the year, Coinglass data show. Futures on the token had zoomed into top 10 rankings last week, pointing to a build of speculative excesses in the crypto market.

In traditional markets, the dollar index briefly topped 99.00, the highest since June 23. A continued recovery in the U.S. currency could cap upside in BTC. Former Bank of Japan Governor Hiroshi Nakaso said the central bank might resume interest-rate increases, and the U.S. and China are meeting in Stockholm to continue trade talks. Stay alert!

What to Watch

  • Crypto
    • July 31, 12 p.m.: A live webinar featuring Bitwise CIO Matt Hougan and Bitzenship founder Aleesandro Palombo discussing bitcoin’s potential to become a global reserve currency amid dedollarization trends. Registration link.
    • Aug. 1: The Helium Network (HNT), now running on Solana, undergoes its halving event, cutting annual new token issuance to 7.5 million HNT.
    • Aug. 1: Hong Kong’s Stablecoins Ordinance takes effect, introducing a licensing regime to regulate stablecoin activities in the city.
    • Aug. 1: New Bretton Woods Labs will launch BTCD, which it says is the first fully bitcoin-backed stablecoin, on the Elastos (ELA) mainnet, a decentralized blockchain secured by merged mining with bitcoin and overseen by the Elastos Foundation.
    • Aug. 15: Record date for the next FTX distribution to holders of allowed Class 5 Customer Entitlement, Class 6 General Unsecured and Convenience Claims who meet pre-distribution requirements.
  • Macro
    • Day 2 of 2: U.S. and Chinese officials meet in Stockholm for a third round of trade talks. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng lead discussions focused on preventing further tariff escalations. While extending the tariff truce set to expire Aug. 12 is a key goal, the meeting also aims to lay the groundwork for future negotiations and a possible leaders’ summit later this year.
    • July 29, 10 a.m.: The U.S. Bureau of Labor Statistics releases June U.S. labor market data (the JOLTS report).
      • Job Openings Est. 7.55M vs. Prev. 7.7691M
      • Job Quits Prev. 3.293M
    • July 29, 10 a.m.: The Conference Board (CB) releases July U.S. consumer confidence data.
      • CB Consumer Confidence Est. 95.8 vs. Prev. 93
    • July 30, 8 a.m.: Mexico’s National Institute of Statistics and Geography releases (preliminary) Q2 GDP growth data.
      • GDP Growth Rate QoQ Est. 0.4% vs. Prev. 0.2%
      • GDP Growth Rate YoY Est. -0.1% vs. Prev. 0.8%
    • July 30, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases (advance estimate) Q2 GDP data.
      • GDP Growth Rate QoQ Est. 2.4% vs. Prev. -0.5%
      • GDP Price Index QoQ Est. 2.4% vs. Prev. 3.8%
      • GDP Sales QoQ Prev. -3.1%
      • PCE Prices QoQ Prev. 3.7%
      • Real Consumer Spending QoQ Prev. 0.5%
    • July 30, 9:45 a.m.: The Bank of Canada (BoC) announces its monetary policy decision and publishes the quarterly Monetary Policy Report. The press conference follows at 10:30 a.m. Livestream link.
      • Policy Interest Rate Est. 2.75% Prev. 2.75%
    • July 30, 2 p.m.: The Federal Reserve announces its monetary policy decision. Federal funds rates are expected to remain unchanged at 4.25%-4.50%. Chair Jerome Powell’s press conference follows at 2:30 p.m.
    • July 30, 5:30 p.m.: Brazil’s central bank, Banco Central do Brasil, announces its monetary policy decision.
      • Selic Rate Est. 15% vs. Prev. 15%
  • Earnings (Estimates based on FactSet data)
    • July 29: PayPal Holdings (PYPL), pre-market, $1.30
    • July 30: Robinhood Markets (HOOD), post-market, $0.31
    • July 31: Coinbase Global (COIN), post-market, $1.39
    • July 31: Reddit (RDDT), post-market, $0.19
    • July 31: Sequans Communications (SQNS), pre-market
    • Aug. 5: Galaxy Digital (GLXY), pre-market, $0.19
    • Aug. 7: Block (XYZ), post-market, $0.67
    • Aug. 7: Coincheck (CNCK), post-market
    • Aug. 7: Hut 8 (HUT), pre-market, -$0.08
    • Aug. 27: NVIDIA (NVDA), post-market, $1.00

Token Events

  • Governance votes & calls
  • Unlocks
    • July 31: Optimism (OP) to unlock 1.79% of its circulating supply worth $24 million.
    • Aug. 1: Sui (SUI) to unlock 1.27% of its circulating supply worth $173.78 million.
    • Aug. 2: Ethena (ENA) to unlock 0.64% of its circulating supply worth $25.17 million.
    • Aug. 9: Immutable (IMX) to unlock 1.3% of its circulating supply worth $14.34 million.
    • Aug. 12: Aptos (APT) to unlock 1.73% of its circulating supply worth $53.61 million.
  • Token Launches
    • July 29: Spheron Network (SPON) to be listed on MEXC, Bitget, Gate.io and others.

Conferences

The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through Aug. 31.

Token Talk

By Shaurya Malwa

  • CryptoPunks posted $24.6 million in weekly trading volume, the highest since March 2024 and 416% more than the prior week.
  • The floor price jumped to 47.5 ETH from 40 ETH and the average sale price climbed to $182,000 from $140,000, signaling strong demand for higher-end Punks.
  • The rally was likely triggered by GameSquare’s $5.15 million acquisition of Punk #5577, one of just 24 Ape Punks, which the firm purchased using newly issued preferred shares.
  • GameSquare (GAME), the Nasdaq-listed parent of FaZe Clan, became the first public company to finance an NFT acquisition with equity, valuing the Punk at ~3x the floor at the time of purchase.
  • The transaction reframed the Punk as a yield-bearing treasury asset, sparking renewed institutional and high-net-worth interest across the collection.
  • The deal effectively positioned CryptoPunks as balance-sheet worthy collectibles, triggering fresh bids and elevating the profile of NFTs as corporate-grade digital assets.
  • The sharp revaluation of blue-chip NFTs may create a narrative tailwind for other top-tier collections as corporate treasuries explore non-traditional digital stores of value.

Derivatives Positioning

  • XRP’s perpetual futures open interest continues to drop along with the price, indicating that the decline is led by an unwinding of bullish long bets rather than fresh shorts.
  • Global futures open interest in BTC and ETH remains elevated near a record $80 billion and $58 billion, respectively, suggesting scope for price volatility.
  • The so-called altcoin season seems to have fizzled out as BTC’s annualized perpetual funding rate of 10% exceeds that of XRP and other top altcoins.
  • Some nervousness has creeped into Deribit-listed BTC options, where front-end risk reversals showed a put bias. ETH risk reversals showed a bias for calls (that is, for upside) across all tenors.
  • Block flows over the OTC network Paradigm featured a short position in the $110K BTC put expiring on Aug. 8 and butterfly trades.

Market Movements

  • BTC is up 0.61% from 4 p.m. ET Monday at $118,757.92 (24hrs: -0.12%)
  • ETH is up 2.24% at $3,872.65 (24hrs: -0.6%)
  • CoinDesk 20 is up 1.07% at 4,038.53 (24hrs: -1.92%%)
  • Ether CESR Composite Staking Rate is up 4 bps at 2.9%
  • BTC funding rate is at 0.0153% (16.7535% annualized) on Binance

CoinDesk 20 members’ performance

  • DXY is up 0.11% at 98.74
  • Gold futures are up 0.42% at $3,323.90
  • Silver futures are up 0.36% at $38.36
  • Nikkei 225 closed down 0.79% at 40,674.55
  • Hang Seng closed down 0.15% at 25,524.45
  • FTSE is up 0.38% at 9,115.95
  • Euro Stoxx 50 is up 0.96% at 5,388.73
  • DJIA closed on Monday down 0.14% at 44,837.56
  • S&P 500 closed unchanged at 6,389.77
  • Nasdaq Composite closed up 0.33% at 21,178.58
  • S&P/TSX Composite closed down 0.32% at 27,405.42
  • S&P 40 Latin America closed down 1.65% at 2,573.40
  • U.S. 10-Year Treasury rate is down 1 bps at 4.41%
  • E-mini S&P 500 futures are up 0.22% at 6,437.00
  • E-mini Nasdaq-100 futures are up 0.39% at 23,581.75
  • E-mini Dow Jones Industrial Average Index are up 0.14% at 45,073.00

Bitcoin Stats

  • BTC Dominance: 61.25% (-0.24%)
  • Ether to bitcoin ratio: 0.03259 (1.34%)
  • Hashrate (seven-day moving average): 933 EH/s
  • Hashprice (spot): $59.21
  • Total Fees: 4.20 BTC / $498,556
  • CME Futures Open Interest: 141,550 BTC
  • BTC priced in gold: 35.7 oz
  • BTC vs gold market cap: 10.11%

Technical Analysis

Dollar Index. (TradingView)

  • The dollar index is probing the Ichimoku cloud resistance, having bottomed out near 97 this month.
  • A move above the cloud is needed to confirm the bullish shift in momentum, failing which, the broader downtrend will likely resume.

Crypto Equities

  • Strategy (MSTR): closed on Monday at $403.8 (-0.51%), +1.14% at $408.39 in pre-market
  • Coinbase Global (COIN): closed at $379.49 (-3.11%), +0.53% at $381.50
  • Circle (CRCL): closed at $185.36 (-3.89%), +1.63% at $188.39
  • Galaxy Digital (GLXY): closed at $29.6 (-3.24%), +1.52% at $30.05
  • MARA Holdings (MARA): closed at $17.16 (-0.52%), +0.99% at $17.33
  • Riot Platforms (RIOT): closed at $14.51 (-0.21%), +0.34% at $14.56
  • Core Scientific (CORZ): closed at $13.74 (-0.11%), unchanged in pre-market
  • CleanSpark (CLSK): closed at $12.03 (+1.78%), +0.42% at $12.08
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $26.13 (-1.62%), -0.8% at $25.92
  • Semler Scientific (SMLR): closed at $39.25 (+3.07%), +1.27% at $39.75
  • Exodus Movement (EXOD): closed at $33.21 (+0.58%), -1.36% at $32.76
  • SharpLink Gaming (SBET): closed at $20.92 (-4.84%), -0.65% at $20.79

ETF Flows

Spot BTC ETFs

  • Daily net flows: $157.1 million
  • Cumulative net flows: $54.95 billion
  • Total BTC holdings ~1.07 million

Spot ETH ETFs

  • Daily net flows: $65.2 million
  • Cumulative net flows: $9.42 billion
  • Total ETH holdings ~3.86 million

Source: Farside Investors

Overnight Flows

Top 20 digital assets’ prices and volumes

Chart of the Day

Fartcoin liquidations. (Coinglass)

  • Fartcoin longs, or bullish bets, worth over $11 million were liquidated Monday, the largest tally for the year.
  • Shorts, or bets on declines, accounted for a small portion of total liquidations, a sign leverage was heavily skewed bullish in anticipation of a continued price rise.

While You Were Sleeping

In the Ether

Kalshi now sees a 95% chance of no change in interest rates this week.Ethereum ETFs are seeing a surge in inflows comparable to what we’ve seen with Bitcoin.The Bitcoin Vector Playbook anticipated the downside risk XRP is still +46% in the past month as it remains in its support level at $3.15.Options on iShares Bitcoin ETF now among most heavily traded out of *all* ETFs

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XLM Sees Heavy Volatility as Institutional Selling Weighs on Price

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5 часов ago

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15 сентября, 2025

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Stellar’s XLM token endured sharp swings over the past 24 hours, tumbling 3% as institutional selling pressure dominated order books. The asset declined from $0.39 to $0.38 between September 14 at 15:00 and September 15 at 14:00, with trading volumes peaking at 101.32 million—nearly triple its 24-hour average. The heaviest liquidation struck during the morning hours of September 15, when XLM collapsed from $0.395 to $0.376 within two hours, establishing $0.395 as firm resistance while tentative support formed near $0.375.

Despite the broader downtrend, intraday action highlighted moments of resilience. From 13:15 to 14:14 on September 15, XLM staged a brief recovery, jumping from $0.378 to a session high of $0.383 before closing the hour at $0.380. Trading volume surged above 10 million units during this window, with 3.45 million changing hands in a single minute as bulls attempted to push past resistance. While sellers capped momentum, the consolidation zone around $0.380–$0.381 now represents a potential support base.

Market dynamics suggest distribution patterns consistent with institutional profit-taking. The persistent supply overhead has reinforced resistance at $0.395, where repeated rally attempts have failed, while the emergence of support near $0.375 reflects opportunistic buying during liquidation waves. For traders, the $0.375–$0.395 band has become the key battleground that will define near-term direction.

XLM/USD (TradingView)

Technical Indicators
  • XLM retreated 3% from $0.39 to $0.38 during the previous 24-hours from 14 September 15:00 to 15 September 14:00.
  • Trading volume peaked at 101.32 million during the 08:00 hour, nearly triple the 24-hour average of 24.47 million.
  • Strong resistance established around $0.395 level during morning selloff.
  • Key support emerged near $0.375 where buying interest materialized.
  • Price range of $0.019 representing 5% volatility between peak and trough.
  • Recovery attempts reached $0.383 by 13:00 before encountering selling pressure.
  • Consolidation pattern formed around $0.380-$0.381 zone suggesting new support level.

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.

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HBAR Tumbles 5% as Institutional Investors Trigger Mass Selloff

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5 часов ago

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15 сентября, 2025

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Hedera Hashgraph’s HBAR token endured steep losses over a volatile 24-hour window between September 14 and 15, falling 5% from $0.24 to $0.23. The token’s trading range expanded by $0.01 — a move often linked to outsized institutional activity — as heavy corporate selling overwhelmed support levels. The sharpest move came between 07:00 and 08:00 UTC on September 15, when concentrated liquidation drove prices lower after days of resistance around $0.24.

Institutional trading volumes surged during the session, with more than 126 million tokens changing hands on the morning of September 15 — nearly three times the norm for corporate flows. Market participants attributed the spike to portfolio rebalancing by large stakeholders, with enterprise adoption jitters and mounting regulatory scrutiny providing the backdrop for the selloff.

Recovery efforts briefly emerged during the final hour of trading, when corporate buyers tested the $0.24 level before retreating. Between 13:32 and 13:35 UTC, one accumulation push saw 2.47 million tokens deployed in an effort to establish a price floor. Still, buying momentum ultimately faltered, with HBAR settling back into support at $0.23.

The turbulence underscores the token’s vulnerability to institutional distribution events. Analysts point to the failed breakout above $0.24 as confirmation of fresh resistance, with $0.23 now serving as the critical support zone. The surge in volume suggests major corporate participants are repositioning ahead of regulatory shifts, leaving HBAR’s near-term outlook dependent on whether enterprise buyers can mount sustained defenses above key support.

HBAR/USD (TradingView)

Technical Indicators Summary
  • Corporate resistance levels crystallized at $0.24 where institutional selling pressure consistently overwhelmed enterprise buying interest across multiple trading sessions.
  • Institutional support structures emerged around $0.23 levels where corporate buying programs have systematically absorbed selling pressure from retail and smaller institutional participants.
  • The unprecedented trading volume surge to 126.38 million tokens during the 08:00 morning session reflects enterprise-scale distribution strategies that overwhelmed corporate demand across major trading platforms.
  • Subsequent institutional momentum proved unsustainable as systematic selling pressure resumed between 13:37-13:44, driving corporate participants back toward $0.23 support zones with sustained volumes exceeding 1 million tokens, indicating ongoing institutional distribution.
  • Final trading periods exhibited diminishing corporate activity with zero recorded volume between 13:13-14:14, suggesting institutional participants adopted defensive positioning strategies as HBAR consolidated at $0.23 amid enterprise uncertainty.

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.

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Dogecoin Inches Closer to Wall Street With First Meme Coin ETF

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5 часов ago

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15 сентября, 2025

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The first exchange-traded fund (ETF) built around a meme coin could hit the market this week, after multiple delays and much speculation.

The DOGE ETF — formally called the Rex Shares-Osprey Dogecoin ETF (DOJE) — was originally slated to debut last week, alongside a handful of politically themed and crypto-related ETFs. Those included funds tied to Bonk (BONK), XRP, Bitcoin (BTC) and even a Trump-themed fund. But DOJE’s debut never materialized.

Now, Bloomberg ETF analysts Eric Balchunas and James Seyffart believe Wednesday is the most likely launch date, though they caution nothing is certain.

“It’s more likely than not,” Seyffart said. “That seems like the base case.”

Ahead of the introduction of the ETF, DOGE has been among the top performers over the past month, ahead 15% even including a decline of 3.5% over the past 24 horus.

If launched, DOJE would mark a milestone as the first U.S. ETF to focus on a meme coin — cryptocurrencies that generally lack utility or a clear economic purpose. These include tokens like Dogecoin, Shiba Inu (SHIB) and Bonk, which often surge in popularity thanks to internet culture, celebrity endorsements and speculative trading.

Balchunas described DOJE’s significance in a post on X: “First-ever US ETF to hold something that has no utility on purpose.”

DOJE is not a spot ETF. That means it won’t hold DOGE directly. Instead, the fund will use a Cayman Islands-based subsidiary to gain exposure through futures and other derivatives. This approach sidesteps the need for physical custody of the coin while still offering traders a way to bet on its performance within a traditional brokerage account.

The ETF was approved earlier this month under the Investment Company Act of 1940, which is typically used for mutual funds and diversified ETFs. That sets it apart from the wave of bitcoin ETFs that received green lights under the Securities Act of 1933, a framework used for commodity-based and asset-backed products. In short, DOJE is structured more like a mutual fund than a commodity trust.

More direct exposure may be coming soon. Several firms have filed applications to launch spot DOGE ETFs, which would hold the meme coin itself rather than derivatives. These applications are still under review by the U.S. Securities and Exchange Commission (SEC), which has grown more comfortable with crypto ETFs since approving a slate of bitcoin products in early 2024.

The broader crypto market has shown that investor demand can outweigh fundamental critiques. Meme coins have long drawn skepticism for having no underlying value or use case, but that hasn’t kept them from drawing billions in speculative capital.

Seyffart said the ETF market is likely to follow the same path. “There’s going to be a bunch of products like this, whether you love it or need it, they’re going to be coming to market,” he said.

He added that many existing financial products serve no deeper purpose than providing a vehicle for short-term bets. “There’s plenty of products out there that are just being used as gambling or short-term trading,” he said. “So if there’s an audience for this in the crypto world, I wouldn’t be surprised at all if this finds an audience in the ETF and TradFi world.”

Whether the DOJE ETF opens the door to more meme coin funds — or just proves the concept is viable — may depend on how the market responds this week. Either way, it signals a new phase in the merging of internet culture and traditional finance.

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