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Yahoo
2 days ago
- Business
- Yahoo
Bitcoin Demand Outstrips Supply Ahead of August Lull: Crypto Daybook Americas
By James Van Straten (All times ET unless indicated otherwise)Bitcoin (BTC) has dropped 3% in the past 24 hours and is currently some 7% below its June 14 all-time high. This raises the question of how much further it might drop. In the context of a continuing bull market, double-digit corrections are not unusual, with the largest drawdown reaching 30% since this cycle began in January 2023. One technical factor to keep an eye on is the CME Bitcoin Futures gap between $114,355 and $115,670. These gaps typically occur when price movement happens outside of the CME's trading hours, generally over weekends, and they often get filled later as the price revisits those levels. In other news, Strategy (MSTR) reportedly quadrupled the size of its Stretch (STRC) perpetual preferred stock sale. Analyst Brian Brookshire notes the offering includes 28 million STRC shares. At $90 a pop, that totals over $2.5 billion and potential demand for some 21,500 BTC given a price of $115,000. Meantime, demand already seems to be outstripping supply, according to on-chain data from Glassnode. Since early this month, more than 210,000 BTC has been sold by long-term holders (those who've owned their BTC for longer than 155 days) and about 250,000 BTC bought by short-term holders, the data shows. With the month-end just a week away, bitcoin is about 8% higher than at the start. That's in line with its historical trend. On average, the largest cryptocurrency has returned about 7% in July since 2013. Ether (ETH), for its part, has surged over 46% and is currently trading near $3,725. This is the third time it's topped 40% since November. Interestingly, in all the other months, it fell. August is typically quieter, which often results in lower market liquidity. Stay alert! What to Watch Crypto July 28: Starknet (STRK), an Ethereum layer-2 validity rollup (zk-rollup), launches v0.14.0 on mainnet. July 31, 12 p.m.: A live webinar featuring Bitwise CIO Matt Hougan and Bitzenship founder Aleesandro Palombo discussing bitcoin's potential as the next global reserve currency amid de-dollarization 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. 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 July 25, 8:30 a.m.: The U.S. Census Bureau releases June manufactured durable goods orders data. Durable Goods Orders MoM Est. -10.8% vs. Prev. 16.4% Durable Goods Orders Ex Defense MoM Prev. 15.5% Durable Goods Orders Ex Transportation MoM Est. 0.1% vs. Prev. 0.5% July 28, 8 a.m.: Mexico's National Institute of Statistics and Geography releases June unemployment rate data. Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trading partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods. 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 Group (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 Aavegotchi DAO is voting on a proposal to sell its treasury of around 16 million GHST for around 3.2 million USDC to VC firm Rongming Investment , dissolve the DAO and distribute funds to active members. The VC firm aims to scale Aavegotchi globally while Pixelcraft retains IP ownership. Voting ends July 25. Lido DAO is voting on a new system that lets validator exits be triggered automatically through the execution layer, not just by node operators. It includes tools for different authorization pathways, emergency controls, and built‑in limits to prevent misuse. The update is expected to make staking more decentralized, more secure and more responsive. Voting ends July 28. GnosisDAO is voting on a proposal to provide $30 million a year, paid quarterly, to Gnosis Ltd., now a non-profit, to sustain its 150‑person team building critical Gnosis Chain infrastructure, products (like Gnosis Pay and Circles), business development and operations. Voting ends July 28. Aavegotchi DAO is voting on funding three new features for the official decentralized application: a Wearable Lendings UI, Gotchis Batch Lending and a BRS Optimizer. Voting ends July 29. NEAR Protocol is voting on potentially reducing NEAR's inflation from 5% to 2.5%. Two-thirds of validators must approval the proposal for it to pass, and if so it could be implemented by late Q3. Voting ends Aug. 1. July 25: MEXC, Ethena and TON to host an X Spaces session on 'Stablecoin for You & Me.' July 29, 10 a.m.: to host a bi-quarterly analyst call. Unlocks July 28: Jupiter (JUP) to unlock 1.78% of its circulating supply worth $28.77 million. July 31: Optimism (OP) to unlock 1.79% of its circulating supply worth $22.08 million. Aug. 1: Sui (SUI) to unlock 1.27% of its circulating supply worth $162.78 million. Aug. 2: Ethena (ENA) to unlock 0.64% of its circulating supply worth $22.29 million. Aug. 9: Immutable (IMX) to unlock 1.3% of its circulating supply worth $13.38 million. Aug. 12: Aptos (APT) to unlock 1.73% of its circulating supply worth $53.27 million. Token Launches July 25: 5ireChain (5IRE), Aperture Finance (APTR), Ertha (ERTHA), Gummy (GUMMY), Pip (PIP), and Teleport System Token (TST) to be delisted from Bybit. 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. July 25: Blockchain Summit Global (Montevideo, Uruguay) July 28-29: TWS Conference 2025 (Singapore) Aug. 6-7: 2025 (Rio de Janeiro, Brazil) Aug. 6-10: Rare EVO (Las Vegas) Aug. 7-8: bitcoin++ (Riga, Latvia) Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia) Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam) Token Talk By Shaurya Malwa WWE legend Hulk Hogan died Thursday following a cardiac arrest, triggering a wave of tribute posts for the wrestler and a near-instant surge of branded memecoins on Ethereum and Solana. The newly launched Wrapped ETH token 'Hulkamania (HULK)' pumped over 122,000% within hours of deployment, peaking at $0.001335 and briefly hitting a seven-figure market cap, according to DEXTools. On Solana, a memecoin named HULKAMANIA (HULK) — launched in June 2024 — surged over 2,000% in 24 hours, trading near $0.0006146 with a revived market cap of $500,000. Despite the rally, the Solana-based HULK is still far below its $18.8 million all-time high from last year, which followed a now-deleted promotional tweet from Hogan's official X account. Hogan, at the time, claimed the post wasn't made by him. None of the current HULK tokens are officially affiliated with Hogan's estate or brand and multiple copycat versions have already vanished from the DEX landscape, suggesting they are likely rug pulls and honeypots. Hogan joins a growing list of celebrities whose posthumous memecoins see rapid speculative inflows, often fueled by nostalgia, shock and social media virality before liquidity drains as fast as it arrives. It's worth remembering that tribute memecoins offer no legitimacy, no roadmap and no protections despite often being the fastest-moving tokens on DEX platforms during news-driven spikes. Derivatives Positioning Open interest (OI) for bitcoin across top derivatives venues remains at all time highs. According to Velo, OI currently sits at $34.1 billion. Binance still leads with $14.2 billion open interest followed by Bybit at $9.5 billion. Three-month annualized basis for BTC is at 6.3%, dropping off from 9% earlier in the week. In terms of perpetual volumes, ETH volumes currently exceed BTC volumes at 140.6 billion versus 121.4 billion respectively, as per Coinglass. Bitcoin put-call volume currently stands at 44,600 contracts, with calls accounting for 52% of the total, according to Velo. Options OI for bitcoin is just under all time highs at $83.5 billion, according to Coinglass. Ether, on the other hand, currently has 196,400 put-call contract volume with 54% being calls. Open interest is currently at $9.6 billion, below the March 2024 all-time high of $14.8 billion. Funding rate APRs for BTC are muted across most venues except Hyperliquid, where the rate currently is at 90% annualized funding. This is well above altcoins such as SOL and HYPE, which currently show an annualized funding of 10% and 32%, respectively, as per Coinglass. Market Movements BTC is down 2.39% from 4 p.m. ET Thursday at $115,912.54 (24hrs: -1.99%) ETH is down 0.41% at $3,721.30 (24hrs: +2.54%) CoinDesk 20 is down 1.94% at 3,940.10 (24hrs: +0.64%) Ether CESR Composite Staking Rate is up 1 bp at 2.96% BTC funding rate is at 0.0367% (40.1865% annualized) on KuCoin DXY is up 0.32% at 97.68 Gold futures are down 0.72% at $3,349.30 Silver futures are down 0.34% at $39.09 Nikkei 225 closed down 0.88% at 41,456.23 Hang Seng closed down 1.09% at 25,388.35 FTSE is down 0.29% at 9,112.22 Euro Stoxx 50 is down 0.15% at 5,347.34 DJIA closed on Thursday down 0.70% at 44,693.91 S&P 500 closed unchanged at 6,363.35 Nasdaq Composite closed up 0.18% at 21,057.96 S&P/TSX Composite closed down 0.16% at 27,372.26 S&P 40 Latin America closed down 0.44% at 2,627.58 U.S. 10-Year Treasury rate is up 1.2 bps at 4.42% E-mini S&P 500 futures are unchanged at 6,407.00 E-mini Nasdaq-100 futures are unchanged at 23,374.00 E-mini Dow Jones Industrial Average Index are up 0.13% at 44,956.00 Bitcoin Stats BTC Dominance: 61.46% (-0.58%) Ether-bitcoin ratio: 0.03184 (1.65%) Hashrate (seven-day moving average): 914 EH/s Hashprice (spot): $59.04 Total fees: 9.82 BTC / $1,166,840 CME Futures Open Interest: 147,320 BTC BTC priced in gold: 34.4 oz. BTC vs gold market cap: 9.66% Technical Analysis Ethena's ENA has been one of the strongest performers in the market, following the announcement of StablecoinX, a SPAC that has raised $360 million to acquire ENA as treasury holdings. On the daily timeframe, ENA has broken its downtrend and retested the previous resistance at $0.45. This bullish narrative is further supported by the confluence of reclaiming Monday's low and the 50-day exponential moving average on the weekly chart. Crypto Equities Strategy (MSTR): closed on Thursday at $414.92 (+0.55%), -2.44% at $404.79 in pre-market Coinbase Global (COIN): closed at $396.7 (-0.28%), -1.75% at $389.74 Circle (CRCL): closed at $193.08 (-4.61%), -0.64% at $191.84 Galaxy Digital (GLXY): closed at $31.89 (+2.77%), -4.2% at $30.55 MARA Holdings (MARA): closed at $17.26 (-1.76%), -2.95% at $16.75 Riot Platforms (RIOT): closed at $14.69 (+2.44%), -2.59% at $14.31 Core Scientific (CORZ): closed at $13.69 (+1.48%), unchanged in pre-market CleanSpark (CLSK): closed at $12.34 (-0.88%), -2.35% at $12.05 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $27.11 (-0.84%) Semler Scientific (SMLR): closed at $38.89 (-1.09%), -3.57% at $37.5 Exodus Movement (EXOD): closed at $33.61 (-1.75%), +3.01% at $34.62 SharpLink Gaming (SBET): closed at $23.32 (-9.65%), +2.44% at $23.89 ETF Flows Spot BTC ETFs Daily net flows: $226.7 million Cumulative net flows: $54.67 billion Total BTC holdings ~1.29 million Spot ETH ETFs Daily net flows: $231.2 million Cumulative net flows: $8.9 billion Total ETH holdings ~5.34 million Source: Farside Investors Overnight Flows Chart of the Day Spot ether ETFs in the U.S. have recorded $4.67 billion in net inflows in July alone, surpassing the total cumulative net inflows of $4.23 billion accumulated from inception through June. While You Were Sleeping Trump's Tariffs Are Being Picked Up by Corporate America (The Wall Street Journal): American companies are largely delaying price hikes and absorbing tariff costs for now as foreign sellers offer limited relief and President Trump's trade deals add uncertainty over who ultimately pays. Iran Starts New Talks Today Over Its Nuclear Program. Here's What to Know. (The New York Times): European officials resumed talks with Iran in Istanbul, warning they'll restore suspended U.N. sanctions by the end of next month if Tehran doesn't reengage with the U.S. and curb uranium enrichment. Bitcoin to Hit $135K by Year-End in Base-Case Forecast, $199K in Bullish Scenario: Citi (CoinDesk): In the bank's most bearish setup, the forecast drops to $64,000. Companies Load Up on Niche Crypto Tokens to Boost Share Prices (Financial Times): Some public companies are turning to altcoin treasuries to differentiate and boost valuation. Analysts say this speculative trend offers no long-term solution for firms already facing financial distress. Volmex's Bitcoin and Ether Volatility Futures Top $10M Volume Since Debut as Traders Look Beyond Price (CoinDesk): Traders are using these recently launched products on the decentralized platform to express views on market turbulence without taking a directional stance on BTC/ETH prices or managing complex option strategies. Digital Assets Firm OSL Raises $300 Million to Expand Crypto Business Worldwide (Bloomberg): As Hong Kong awaits its stablecoin law taking effect Aug. 1, the CFO of one of its earliest licensed exchanges says the new funding will support a broader push into overseas digital asset markets. In the Ether Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
APT Surges 5% From Lows Despite Market Volatility and $960M in Altcoin Liquidations
Aptos' APT exhibited exceptional price volatility throughout the 24-hour trading period, establishing a comprehensive trading range of 5.4%, spanning from an absolute low of $4.53 to a session high of $4.79, according to CoinDesk Research's technical analysis model. The model showed that the period was highlighted by an explosive intraday rally at 14:00 on July 24, with price action accelerating from $4.59 to $4.75 accompanied by substantial volume of 3.64 million, creating robust volume-confirmed support at the $4.59 threshold. Post-breakout, APT sustained consistent trading above the $4.60 level, encountering significant resistance in the $4.75-$4.79 range, according to the model. The recent altcoin correction eliminated $960 million in leveraged positions throughout the cryptocurrency ecosystem. The bounce in Aptos came as the wider crypto market fell, with the broader market gauge, the Coindesk 20, recently down 0.6%. In recent trading, APT was 1.2% higher over 24 hours, trading around $4.695. Technical Analysis: The trading session included a significant retracement to $4.62 approximately at 07:53, forming a crucial support foundation before launching a sustained upward movement. Price action reached $4.67 near 08:06, illustrating substantial buying pressure and momentum alignment. The recovery sequence confirms the previously established support territory around $4.58-$4.60. APT effectively maintained ascending lows, indicating potential advancement toward the identified resistance zone near $4.75-$4.79. 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. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Hype News: Why is HYPE's price down today?
Hyperliquid (HYPE) dropped 2.39% in 24h due to Coinbase's new perpetuals competition, technical bearish signals, and broader market weakness. Coinbase Perpetuals launch threatens Hyperliquid's market share Technical indicators show bearish momentum (MACD < Signal Line) Market-wide dip: Total crypto market cap fell 1.36% 1. Primary catalyst: Coinbase Perpetuals competition Coinbase launched US-regulated perpetual futures on July 24, directly challenging Hyperliquid's position as the leading decentralized perpetuals platform. While Hyperliquid processed $249B in May 2025 volume, traders are reassessing whether CEX convenience could divert liquidity. The timing aligns with HYPE's price dip starting at 10:11 AM UTC+0 on July 24 – 11 minutes after The Defiant's critical analysis went live. 2. Technical context: Bearish momentum builds MACD crossover: Histogram turned negative (-0.372) as MACD (1.67) dipped below Signal Line (2.04) Key support breach: Price ($42.97) below 7-day SMA ($44.93) and EMA ($44.99) Fibonacci retracement: Testing 50% level at $42.67 – a breakdown could target $40.98 (61.8%) 24h volume rose 32.78% to $472M, suggesting active selling pressure. 3. Market dynamics: Altcoin rotation cools BTC dominance rose from 60.05% to 61.07% in 24h, pressuring alts Altcoin Season Index dropped 6.98% as risk appetite waned Fear & Greed Index dipped from 70 (Greed) to 67, reflecting caution HYPE's dip reflects sector-specific competition fears amplified by technical weakness and a cooling altcoin market. Will Hyperliquid's deep liquidity ($14B open interest) and upcoming Zircuit integration help it retain market share against CEX rivals? What is the latest news on HYPE? Hyperliquid faces rising CEX competition but maintains strong derivatives traction, with whale activity and airdrop speculation fueling volatility amid bullish forecasts. Coinbase Perpetuals launch challenges Hyperliquid's US market share. $3M whale leverage bet on ETH drives platform activity. Second airdrop rumors resurface after hedge fund losses tied to HYPE. . Market Metrics & Whale Activity Hyperliquid's open interest hit $14.7B (July 23), but HYPE dipped 2.6% to $42.83, reflecting mixed sentiment. A whale deposited $3M USDC for a 20x ETH long (July 24), amplifying liquidity inflows and protocol fee revenue. Despite this, the token's 7-day decline (-7%) suggests profit-taking after a 123% 90-day rally. 2. Regulatory & Competitive Shifts Coinbase's new US perpetuals (July 24) threaten Hyperliquid's dominance in non-KYC trading. However, analysts argue Hyperliquid's onchain transparency and lower fees (vs. CEXs) could retain advanced users. The CFTC's tacit approval of US perpetuals (via Chair Mersinger) validates the sector but intensifies competition. 3. Ecosystem Developments Zircuit's 'Hyperliquid' AI engine (July 24) risks brand confusion but highlights demand for cross-chain DeFi tools. Investment forecasts (July 24) project HYPE at $72 by 2025, citing its 70% DEX perpetuals market share and $185M spot volume debut. Airdrop farming resurfaces after Asymmetric Fund tied losses to unreleased rewards, hinting at future user incentives. Hyperliquid's duel with Coinbase and whale-driven volatility underscore its pivotal role in onchain derivatives, but sustainability hinges on differentiating its trustless model. Will HYPE's meme-like momentum overshadow its DeFi utility as altseason intensifies? Check out our HYPE page for more info.
Forbes
4 days ago
- Business
- Forbes
Crude Oil ‘s Seasonal And Technical Outlook
NEW YORK - APRIL 7: Traders work in the oil futures pit at the New York Mercantile Exchange April ... More 7, 2005 in New York City. (Photo by) The NYMEX launched the West Texas Light Crude oil contract in 1983. Soon, their price action, as well as that of the T-Bond and gold futures became a regular part of my analytical routine. This led to instructional presentations for oil traders in Singapore and London. WTI is now traded on the Chicago Mercantile Exchange (CME) which provided a 40-year history. Many crude oil traders use fundamental data to measure supply and demand in order to forecast prices. In my technical approach, I look at the actual futures price data as well as the volume and open interest to determine where prices are heading. Crude Oil Monthly This monthly chart goes back to early 2021 as the monthly DTS (created by my colleague Jerry A) generated a buy signal (see arrow) in January 2021. Crude oil prices traded higher until peaking in June 2023 after a high of $123.68. Crude oil had spent several months above the starc+ band, so it was in a high-risk buy area. The monthly sell signal came in August (see arrow) and prices subsequently declined $25 before a low in May of 2023. The new monthly buy was generated in July 2023 as crude oil closed back above its 20- month EMA. The rally terminated three months later as it acted like a bear market rally as crude oil failed to overcome the 50% resistance at $93.82. In 2024, crude oil prices drifted lower, and then in April of 2025, WTI closed below the support line A, at $65.41. The three-month rally from the low at $55.12 peaked at $78.40 and briefly moved above the yearly pivot at $74.94 (in purple), but was not able to close above it, which kept the yearly trend negative On the bottom of the chart is the Aspray Insight indicator, a derivation of the relative performance, developed by Jerry A. This indicator has been in a downtrend since late 2023, indicating that WTI was going to be weaker than the S&P 500. So far in 2025, WTI is down 8.9% year-to-date while the S&P 500 is up 7.9%. Crude Oil Weekly This weekly chart shows that the recent WTI move above the yearly pivot at $74.94 (in purple) reached or exceeded the weekly starc+ band before it turned lower. Below the chart is plotted the Seasonal Trend, which is calculated using the WTI data since 1984. Based on this data, WTI prices typically bottom on December 13th and then typically will top out on July 4th. It has always been my approach that the Seasonal Trend analysis should only be followed when it agrees with the technical outlook. The negative monthly analysis of crude oil and the current signs of failing rallies in the Energy Select (XLE) and SPDR S&P Oil & Gas Exploration (XOP) mean that August may be a tough month for oil prices and the oil stocks. A drop in crude oil or the energy ETFs below the July lows should confirm a new decline.
Yahoo
4 days ago
- Business
- Yahoo
BONK Tests Support Levels After High-Volume Drop
BONK has endured heavy selling pressure during the last 24 hours, with the Solana-based meme token falling 4% from $0.000035 to $0.000033. A volatile trading range of $0.000014 defined the session as investors digested elevated valuations and market-wide positioning shifts. The asset reached an early peak of $0.0000377 at 02:00 UTC, but efforts to extend higher were met with pronounced resistance around the $0.000038 level. This price ceiling coincided with a significant surge in trading activity, with volume climbing above 2.66 trillion tokens, more than double the 24-hour average, according to CoinDesk's technical analysis data model. That inflection point catalyzed a swift directional shift, leading to persistent selling throughout the day. By 13:00 UTC, BONK had slipped to $0.000033, marking the day's low. During this decline, token turnover reached 2.82 trillion, confirming elevated participation and heightened volatility. The most notable activity emerged during the 13:41–13:51 UTC window, when trading volume surged past 145 billion tokens over several minutes, signaling intense short-term repositioning by high-volume traders and institutions. The move coincided with a broader pullback across the crypto asset class. Leading altcoins such as SOL, ADA, and DOGE also faced declining momentum as investors locked in gains from earlier rallies. Technical resistance across major benchmarks, including ETH and BTC, contributed to sector-wide rebalancing—particularly among high-beta assets like BONK, which had previously outperformed. This retracement phase appears to reflect a temporary market cooldown rather than a fundamental shift in sentiment. Technical Analysis Price dropped 4% from $0.000035 to $0.000033 between July 22 and July 23. Intraday trading range spanned $0.000014. Resistance formed at $0.000038 with 2.66 trillion tokens traded at peak. Volume peaked at 2.82 trillion tokens during the move to a low of $0.00003278. Notable spike: 145B+ tokens traded in the 10-minute stretch from 13:41–13:51 UTC. 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. Sign in to access your portfolio
