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Dollar weakness and expectations for rate cuts could support gains in gold and Bitcoin, according to BIT, formerly Matrixport. BIT said from a technical perspective, gold may be entering a phase of forming a bottom. The firm added that while the market expects the Federal Reserve to raise rates around twice this year, there may be no rate hikes at all. If the U.S. dollar turns weaker, gold and BTC could rise alongside expectations for rate cuts, BIT said.

South Korea’s top two crypto exchanges, Upbit and Bithumb, newly listed 89 of the same digital assets on their KRW trading pairs over the past one year and seven months, accounting for 41% of the 217 total new listings across the two exchanges during that period, Digital Asset reported. The report said Upbit announced first and Bithumb followed in 42 cases, while Bithumb announced first and Upbit followed in 47 cases. The median lag for follow-on listings was about one hour for Bithumb and about 33 days for Upbit, indicating Bithumb, the No. 2 operator, was more aggressive in matching Upbit’s new listings.

Ethereum-based DEX spot volume fell to $29 billion in July, down 76% from the all-time high of $122 billion in August 2025 and back to October 2023 levels, according to CryptoRank data. Wu Blockchain said trading volume has been declining by an average of 12.5% a month recently, and projected that if the trend continues, the figure could drop to $21.2 billion in about three months, marking the lowest level in the past five years.

Upbit announced it will temporarily suspend SOMI deposits and withdrawals from 9:00 a.m. UTC on Aug. 6 to support the Somnia (SOMI) network upgrade.

Only 4.1% of cryptocurrencies that topped a $50 million market capitalization between 2020 and 2025 have outperformed Bitcoin to date, according to a recent Blockworks Research report. The report said 1,972 cryptocurrencies exceeded the $50 million market cap threshold during that period, but the median return later fell to -97%. It described the crypto market as a pyramid with a broad base and a narrow top. The number of cryptocurrencies with a market capitalization above $1 million hit a record 3,648 in December 2024, while the number above $250 million fell to 102 as of June from 279 in November 2021. Of the 187 cryptocurrencies that outperformed BTC during the 2021 bull market, 86.1% had dropped more than 90% from their November 2021 peak. The report added that OKB was the only cryptocurrency to surpass BTC’s total gain, as the market shifts from broad expansion toward a structure centered on a small number of high-quality assets.

Bernstein maintained an outperform rating on Bitcoin miner Cipher Digital and kept its price target at $32, even as the stock fell 15.7% on news of a wider second-quarter loss, The Block reported. Bernstein said the three contracted AI data center projects are moving ahead as planned.

GRVT rises above 500 won after Upbit KRW listing Gravity Token (GRVT), listed in Upbit’s South Korean won trading pair, rose above 500 won. GRVT was recently trading at 500 won, up 11.11%.

Former Los Angeles Police Department officer Eric Halem has been sentenced to life in prison plus 15 years for stealing $350,000 worth of Bitcoin in Los Angeles Koreatown in December 2024, The Block reported. Halem and three accomplices broke into an apartment and threatened a 17-year-old victim before taking a hard drive containing the BTC. Halem sought a retrial, but the court rejected the request, saying the motive behind the petition was improper.

Cardano founder Charles Hoskinson said the ADA ecosystem needs a narrative reset to grow further, according to The Crypto Basic, which cited a CoinDesk interview. Hoskinson said Cardano’s biggest challenge is not technological innovation but making the market aware the project is continuing to evolve. He noted Cardano rose to third in market capitalization after reaching $3.1 during the 2021 bull market, but later fell behind rival networks including Ethereum and Solana. Even so, Hoskinson said the Cardano community remains active, which in his view points to a marketing and branding problem. He added Cardano is preparing upgrades including Leios, aimed at expanding transaction throughput, and Peras, aimed at improving speed. Hoskinson also said EMURGO, which previously handled the commercial division, had effectively failed, and said leadership restructuring and stronger governance are expected going forward.

On-chain analyst Moreno said Tether’s USDT, the world’s largest stablecoin, has remained in a declining market-cap trend, signaling that liquidity in the crypto market is drying up. Moreno said USDT’s 60-day market-cap change has fallen to around negative $4 billion, marking the largest contraction on record. Over the past 11 days, about 870 million USDT has been removed from supply, accelerating the decline in market capitalization, Moreno added. Moreno said USDT is the most immediately deployable source of liquidity in the crypto market, meaning market liquidity is being depleted rapidly. Moreno added there is no direct causal relationship between shrinking USDT supply and a decline in Bitcoin’s price. Based on historical data, Moreno said prolonged declines in USDT market capitalization have at times appeared closer to points of selling exhaustion than to signs of additional downside pressure. Still, Moreno said lower USDT liquidity may have affected Bitcoin’s ability to sustain a rebound.

Capital B, a European-listed company pursuing a strategic Bitcoin accumulation strategy, has listed on CBOE Europe, according to Bitcoin Treasuries.

CoinDesk analysis suggests Bitcoin’s era of delivering outsized returns over stocks may be fading, after the ratio tracking BTC’s relative value against the S&P 500 and Nasdaq rose above its 200-week moving average for the first time on record. According to CoinDesk, the ratio had long remained below the 200-week moving average while BTC outperformed equities on a relative basis, but the trend has recently reversed. CoinDesk said this may indicate the period in which BTC delivered overwhelming excess returns versus stocks is coming to an end, as liquidity matures through rising market capitalization and institutional adoption via spot ETFs, options, and futures, potentially making the kind of sharp rallies seen in the past harder to sustain.

More than seven in 10 cryptocurrencies that once entered the top 100 by market capitalization have effectively disappeared, according to CryptoRank. Among 1,539 cryptocurrencies analyzed that had previously ranked in the top 100 by market cap, 71.9% were found to be effectively defunct, defined as posting daily trading volume of under $10,000 for 90 consecutive days and being delisted from major exchanges. CryptoRank also projected that 62% of top-100 cryptocurrencies could cease operating within five years and 84.7% within 10 years. The average lifespan across all cryptocurrencies was estimated at about two years and four months. CryptoRank added, "Entering the top 100 by market capitalization does not guarantee long-term potential."

Kiwoom Securities’ push to acquire a stake in South Korean crypto exchange Bithumb has effectively been put on hold, Byline Network exclusively reported. A Kiwoom Securities official said the mood inside the company had shifted against continuing the effort, citing Bithumb’s complex governance structure and the growing burden tied to the transaction. Kiwoom Securities said it could not confirm the matter.

Bithumb announced it will temporarily suspend deposits and withdrawals for SOMI at 7:00 a.m. UTC on Aug. 6.

Switzerland’s emergence as one of the world’s safest and most efficient digital asset hubs stems from its use of a Self-Regulatory Organizations, or SRO, model to lower entry barriers while maintaining strict anti-money laundering compliance standards, Bitcoin News reported. Instead of requiring all virtual asset companies to obtain full banking licenses, the Swiss Financial Market Supervisory Authority, or FINMA, operates a supervisory system through 11 private SROs based on a company’s business model and risk profile. If a business activity qualifies as financial intermediation under anti-money laundering law, including crypto trading, custody or payment token issuance, firms must choose either a full FINMA license or SRO membership, with approval typically completed in around two to four months.

Yemen’s Houthi rebels said they attacked a Saudi Arabian oil tanker in the Red Sea.

The spot CVD chart refers to an order book analysis chart for the BTC/USDT spot trading pair, with the upper section showing the Volume Heatmap and the lower section showing cumulative volume delta, or CVD. - The volume heatmap in the upper section tracks trading volume at each price level. The background becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance. - The cumulative volume delta indicator in the lower section reflects buy and sell orders by fund size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Crypto analyst Axel Adler Jr. outlined three possible paths for Bitcoin in August, with a base-case 55% probability that BTC will trade sideways in the $58,000-$67,000 range. - Base case: 55% probability, rangebound between $58,000 and $67,000 - Bearish case: 30% probability, with a break below $57,730 opening the way for a test of $52,750 - Bullish case: 15% probability, with a break above $67,000 opening the way for a test of $71,000-$74,000 - Since 2013, Bitcoin has closed higher in August only four times out of 13, with an average return of +1.12% and a median return of -7.49% - Applying the median decline of -7.49% leaves room for a retest near $58,300 - Historically, Bitcoin fell in every August during U.S. midterm election years in 2014, 2018 and 2022, with an average decline of -13.6% - The 10-year U.S. Treasury yield remains elevated at around 4.70%, weighing on Bitcoin - Open interest has stabilized, while funding rates are not overheated, suggesting the risk of a large-scale long squeeze remains low

Crypto-backed candidates win U.S. House primaries in Michigan and Washington Candidates backed by hundreds of thousands of dollars from the crypto industry won U.S. House primaries in Michigan and Washington, The Block reported, citing AP. In Michigan’s Republican primary on Aug. 4, Bill Huizenga secured the party’s nomination after previously receiving campaign support from Andreessen Horowitz, a16z, Winklevoss Capital and Coinbase. Huizenga is seeking reelection and is expected to face Democratic state Sen. Shawn McCann in November. In Washington’s Democratic primaries, incumbent House members Suzan DelBene, Kim Schrier and Marilyn Strickland won, while Republican Amanda McKinney also advanced. All of them previously received campaign support from Fairshake, a crypto-focused PAC backed by Coinbase and a16z, according to the report.

Aave founder Stani Kulechov opposed a recently proposed EIP that would reduce Ethereum issuance in proportion to the ETH staking ratio, arguing the measure could instead deepen an institution-driven staking structure. In the Ethereum Magicians forum, Kulechov reproduced the English phrase "Ethereum Magicians" and said that as yields fall, individual validators facing higher cost burdens would likely exit first, while ETF issuers and exchanges would be more likely to keep staking for business reasons. He argued that if institutions continue staking even with little profit, cutting issuance would not solve centralization concerns, while if validators continue demanding returns high enough to justify the risks, the number of stakers would naturally level off, leaving no reason to intervene. In either case, he said, the proposal would fail to meet its goal. Kulechov also urged a review of the impact on individual validators and tax issues first, alongside safeguards to ensure a minimum yield.

CryptoQuant CEO Ki Young Ju said self-custody may not be the safest option for storing cryptocurrency. He said that even during the era of the American frontier, when bank robberies occurred weekly, people still kept gold in banks, as putting a safe at home does not guarantee security for someone without specialized knowledge. Ki added that when problems arise, people need someone to hold accountable, but self-custody does not provide that, which is why not everyone uses decentralized exchanges (DEX). In the end, Ki said the safest way to store cryptocurrency is the method an individual can actually manage.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 50.9% long, 49.1% short - Binance: 51.23% long, 48.77% short - OKX: 52.43% long, 47.57% short - Bybit: 51.64% long, 48.36% short

Japan’s Financial Services Agency said today it has created a dedicated Crypto Assets and Stablecoins Division to oversee virtual assets and stablecoins. The organizational restructuring will take effect on Aug. 7. Crypto-related work had previously been handled by two units under the Risk Analysis Office of the Comprehensive Policy Bureau, but the new dedicated division will be placed under the Asset Management and Insurance Supervision Bureau, effectively raising its organizational status by one level.

An anonymous whale beginning with 0x3ad3 bought 16.02 million CASHCAT tokens with $1 million, according to Lookonchain. CASHCAT had emerged as the leading memecoin on Robinhood Chain, but insider trading allegations surfaced during its recent sharp decline.