Ethereum (ETH) is flashing technical patterns unseen since its last bull market peak, fueling bold $5,000 price predictions among top analysts. Amidst a slight weekly pullback, signs of underlying strength have emerged, with increasing on-chain activity and significant institutional buying setting the stage for a potential major breakout if key resistance levels crumble. Technical Crosscurrents and Surging Fundamentals The bullishness has primarily come from emerging chart formations, with analyst Titan of Crypto highlighting a developing “bull pennant” pattern and noting that a successful breakout could propel ETH towards $5,000. Echoing this, market technician Jonathan Carter observed a “Broadening Wedge Breakout” on the 3-day timeframe, setting even more ambitious targets at $5,500 and $6,850. Their optimism is supported by Ethereum’s relative display of strength against Bitcoin (BTC), holding above its Tenkan line, a key indicator of short-term momentum. These technical signals have also come in tandem with significant growth on the network. On-chain data shows that Ethereum processed $238 billion in transaction volume in July, a 70% monthly increase, and the highest since December 2021. It also shattered records with 46.67 million transactions and 17.55 million active addresses. Critical Thresholds Ahead Despite the bullish signals, Ethereum still faces immediate technical hurdles and signs of exhaustion. As noted by Daan Crypto Trades, current price action shows ETH caught between crucial local support near $3,500 and resistance at $3,850.  Breaking the latter is seen as essential for the cryptocurrency to challenge its cycle highs. This aligns with warnings shared in CryptoPotato’s latest ETH analysis, which noted potential exhaustion signals on lower timeframes despite the strong overall uptrend. The asset’s price seems to reflect this tension. At the time of writing, it was trading at $3,721.28 according to CoinGecko, having increased by 45.8% over the past 30 days. However, it has faced some headwinds in the near term, going down 3.7% in the last seven days following rejection close to its one-week high of $3,862. The confluence of bullish technical patterns, record-breaking on-chain usage, and growing institutional accumulation paints an intriguing picture for Ethereum’s potential. However, the path to $5,000 hinges decisively on conquering the $3,850 to $4,100 resistance gauntlet while avoiding a breakdown below $3,400. As such, the next few days could determine whether the bulls secure their breakout or face a more prolonged consolidation phase The post Crypto Analysts Spot Bullish Signal: Ethereum Targets $5K Milestone appeared first on CryptoPotato. Powered by WPeMatico

Ethereum price found support near the $3,650 zone and started a fresh surge. ETH is rising and might soon aim for a move above the $3,920 zone. Ethereum started a fresh increase above the $3,750 and $3,800 levels. The price is trading above $3,800 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $3,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains supported above the $3,750 zone in the near term. Ethereum Price Gains Over 5% Ethereum price started a fresh increase from the $3,650 support zone, beating Bitcoin. ETH price was able to recover above the $3,720 and $3,750 resistance levels. The bulls even pushed the price above the $3,850 resistance zone. Finally, the price tested the $3,920 resistance zone. A high was formed at $3,927 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,544 swing low to the $3,927 high. Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a bullish trend line forming with support at $3,820 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $3,920 level. The next key resistance is near the $3,950 level. The first major resistance is near the $4,000 level. A clear move above the $4,000 resistance might send the price toward the $4,220 resistance. An upside break above the $4,220 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500 in the near term. Are Dips Limited In ETH? If Ethereum fails to clear the $3,920 resistance, it could start a fresh decline. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,800 zone. A clear move below the $3,800 support might push the price toward the $3,735 support. Any more losses might send the price toward the $3,680 support level in the near term. The next key support sits at $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,735 Major Resistance Level – $3,920 Powered by WPeMatico

The US markets have seen a surge of digital coins. Millions of Americans now hold tokens in their wallets. Blocking all of it suddenly would be nearly impossible. At the same time, leaving this sector with no rules puts everyday investors in harm’s way. Why Ban Is Off The Table According to Bloomberg columnist Matt Levine, outright banning crypto is off the table. He points out that tens of millions of people own digital assets today. Pulling the plug now would ripple through trading platforms, payment apps, and even major Wall Street firms. Levine argues that such a move would simply drive innovation and jobs offshore. Hostile Past Still Looms Under former SEC Chair Gary Gensler, most tokens were treated as stocks. That meant they needed to register under securities laws—a process that almost no project could clear. In practice, that stance rendered crypto “illegal” in the US. Many developers and investors felt shut out. Matt Levine: “We will ban crypto” is no longer feasible for the SEC, and “we will ignore crypto because it’s not a security so not our problem” is not very attractive for the SEC. The only choice left is “we will regulate crypto, but in a way that you like. pic.twitter.com/hBFXTmMnh5 — Sar Haribhakti (@sarthakgh) August 7, 2025 According to analysts, crypto serves two purposes: it powers networks and it offers investment chances. That split role creates regulatory headaches. Many tokens act much like shares in a company, yet they also run on open software and community rules. The SEC knows how to protect stock investors, but digital coins need different safeguards. Project Crypto Signals Change Current SEC Chair Paul Atkins launched “Project Crypto” this year. The goal is to carve out faster, clearer paths for token registration. Projects that truly function as securities could follow a new, streamlined process. At the same time, tokens used mainly for network services would face lighter requirements. Levine warns that drawing clear lines won’t be easy. How do you tell a governance token from a pure utility token? What level of disclosure makes sense when code can update itself overnight? Those questions will test regulators and industry alike. However, having defined categories would guide honest developers and protect small investors. The SEC now faces a clear choice: use its power, but adapt its toolkit. A full ban would leave retail holders stranded. Total hands-off would leave them exposed to fraud. Featured image from Meta, chart from TradingView Powered by WPeMatico

Today, the president of the United States, Donald Trump, signed an Executive Order that aims to allow 401(k) investors access to alternative assets (such as digital assets). According to the official announcement: “The order directs the Secretary of Labor to reexamine the Department of Labor’s guidance on a fiduciary’s duties regarding alternative asset investments in ERISA-governed 401(k) and other defined-contribution plans.” This comes as part of Trump’s plans to establish the country as the leading player in the cryptocurrency industry. To this point, the order also stipulates that “alternative assets, such as private equity, real estate, and digital assets, offer competitive returns and diversification benefits.” The entire cryptocurrency market soared on the news, with Bitcoin’s price trading above $117,000, charging a 2% intraday increase. Source_ TradingView Ethereum (ETH), which has been one of the most heavily-discussed altcoins in the past month, has gained 5%. At the time of this writing, the total market capitalization stands at $3.93 trillion, as Bitcoin’s dominance is looking to reclaim the 60% mark once again. The post Trump Signs Executive Order to Allow Bitcoin and Crypto in 401(k)s appeared first on CryptoPotato. Powered by WPeMatico

There has been a sharp decline in altseason social engagement, with volume and dominance both retracing to April levels, according to Santiment. The slump comes despite strong July catalysts such as regulatory progress, real-world asset tokenization momentum, Ethereum’s revival, and record ETF inflows. “Yet crowd attention hasn’t rotated into altcoins,” observed analyst Chyan on Wednesday. “Without a Bitcoin breakout and renewed risk appetite, altseason remains on pause,” they said. The chart shows spikes in social volume in late February, late May, and mid-July, but it has now fallen back significantly. Altseason Hopes Fade The analyst opined that market cycles when all altcoins went up are “a thing of the past” as the hype isn’t even close to the first quarter of 2024 when the Bitcoin ETFs launched. However, Santiment did identify a few crypto assets that were trending at the moment, including Litecoin, Stellar, and USDC. Altseason sentiment breaks down as $BTC holds range — narratives fail to ignite rotation@Santimentfeed shows a sharp decline in altseason social engagement, with volume and dominance both retracing to April levels. This comes despite strong July catalysts — regulatory progress,… pic.twitter.com/gISOmJKoKI — Chyan | chyan.base.eth (@Chyan) August 6, 2025 CoinMarketCap’s altseason index is a low 36 out of 100, which suggests that it remains a long way off at the moment. It topped 50 in mid-June during the market rally but has fallen back along with the prices of most altcoins. The Blockchain Center’s altseason index shows a similar low rating of 35, while Bitget’s altcoin season index is an even lower 34. All three indexes report that the best-performing altcoins over the past month are memecoins. Bitcoin dominance is also an indicator of the approach of altseason, and it remains high at 61.6%, according to TradingView. Its market share fell to a six-month low on July 21, but it has been uptrending again since, as the asset holds around $116,000 while most of the altcoins continue to bleed. Nevertheless, Ethereum usually leads altcoins into a rally, and it too has been holding up and remaining within its range-bound channel. Some analysts are still looking at previous bull market cycles and predicting the same again this year. Altcoin market cap is following a clear pattern: 2017: Explosion 2021: Explosion 2025: Next in line? History doesn’t repeat, but it sure does rhyme. Altseason brewing?#Altcoins #Crypto #Altseason #DeFi pic.twitter.com/w3ez085f0u — Crypto Captain (@CryptoCaptainCT) August 7, 2025 The post Altseason Sentiment Breaks Down as Bitcoin Holds Steady: Santiment appeared first on CryptoPotato. Powered by WPeMatico

Bitcoin price is again rising above the $115,500 zone. BTC is now consolidating and might aim for a move toward the $120,000 resistance zone. Bitcoin started a fresh increase above the $115,500 zone. The price is trading above $115,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $117,500 resistance zone. Bitcoin Price Aims Higher Bitcoin price found support near the $112,200 zone and started a fresh increase. BTC was able to climb above the $113,500 and $114,800 resistance levels. The price even cleared the $115,500 resistance to move into a positive zone. Finally, the price tested the $117,500 resistance zone. A high was formed at $117,643 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Bitcoin is now trading above $115,000 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $117,200 level. The first key resistance is near the $117,500 level. The next resistance could be $118,250. A close above the $118,250 resistance might send the price further higher. In the stated case, the price could rise and test the $119,200 resistance level. Any more gains might send the price toward the $120,000 level. The main target could be $121,500. Another Drop In BTC? If Bitcoin fails to rise above the $117,500 resistance zone, it could start another decline. Immediate support is near the $116,450 level. The first major support is near the $115,600 level and the trend line. The next support is now near the $114,550 zone or the 61.8% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Any more losses might send the price toward the $113,800 support in the near term. The main support sits at $112,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $115,600, followed by $114,550. Major Resistance Levels – $117,500 and $118,250. Powered by WPeMatico

In a bold move that could reshape the crypto landscape, the US President is reportedly preparing to sign an executive order aimed at protecting access to BTC and digital assets. If enacted, this landmark policy would redefine the relationship between digital assets and the US financial system. Bitcoin Steps Into The Political Spotlight Bitcoin has officially entered the hall of power, as the US President Donald Trump is preparing to sign an executive order that would prohibit banks from refusing services to Bitcoin and crypto-related companies. This move signals a major shift in the US policy and ends years of financial censorship against the crypto industry. According to a crypto enthusiast, Henry, with this impending order, the crypto industry appears to be getting serious respect from the White House, after years of regulatory uncertainty and political pushback. In the coming days, Henry suggests that positive developments are on the horizon, especially involving Federal Reserve Chair Jerome Powell. This kind of attention from the highest levels of government could shake up the entire market and trigger a wave of institutional interest and volatility. If this happens, it would be more than just good news, as it would be a game-changer. Not only could it act as a major catalyst for BTC, it would also open the doors for crypto businesses to access traditional financial services, which they need for growth. Bitcoin is gaining recognition among the highest forms of governments across the world. Reports show that the Indonesian Vice President Gibran Rakabuming Raka is exploring the possibility of adding Bitcoin to the country’s national reserves, according to a recent post from Bitcoin Indonesia. The move represents a bold step toward integrating digital assets into sovereign finance. If implemented, Indonesia would become one of the first major Asian economies to formally recognize BTC as a reserve asset, signaling a shift in how governments hedge against inflation, currency risk, and geopolitical uncertainty. The global spotlight is increasingly turning to crypto adoption at the state level. The Bhutan Government Moves $59.2 Million In BTC Several countries are engaging BTC globally at a rapid rate. In a significant and quietly executed move, the government of Bhutan has transferred 517 BTC, valued at approximately $59.2 million, to a new cryptocurrency wallet. This substantial transfer of BTC, reported by Crypto Rover on X, has sparked speculation among analysts and the crypto community about potential custody changes or strategic moves.  The Himalayan kingdom of Bhutan has consistently maintained a low profile in the world of sovereign crypto holdings, making it one of the most discreet yet active state players in the digital asset space. This recent movement may indicate a shift toward enhanced security and measures in BTC reserves. Powered by WPeMatico

Following a brief dip to $112,200, Bitcoin (BTC) has recovered slightly, trading around the $116,300 level at the time of writing. While concerns remain about BTC’s inability to decisively break the $120,000 resistance level, on-chain data suggests the asset may be in an accumulation phase – potentially gearing up for its next breakout toward a new all-time high (ATH). Bitcoin Currently In Accumulation Phase, Analyst Says According to a CryptoQuant Quicktake post by contributor BorisVest, a strategy called Smart Dollar-Cost Averaging (DCA) may help Bitcoin investors accumulate the asset more strategically and improve long-term performance. In his analysis, BorisVest noted that investors often struggle to time their entries into BTC. Many tend to buy during local tops due to fear of missing out (FOMO) and avoid entering the market during bottoms out of fear of further declines. Smart DCA offers a way to bypass these emotion-driven decisions. The strategy recommends accumulating BTC when its market price falls below the 1-week to 1-month realized price – a period during which short-term holders are often in loss, resulting in heightened sell-off. BorisVest explained: At these levels, short-term holders are usually underwater, leading to increased sell pressure. Smart DCA activates hourly purchases during such periods, helping to bring the BTC and USD cost basis closer together. Currently, the 1-week to 1-month realized price stands at approximately $117,700. As long as BTC trades below this level, Smart DCA continues to flash an accumulation signal. Once BTC climbs above this threshold, the strategy advises gradually selling previously accumulated coins. With Bitcoin now trading near $116,000, the analyst suggests that the asset is still in an accumulation phase – though it’s approaching the realized threshold. According to data from CoinGecko, BTC remains about 5.2% below its ATH of $122,838, recorded on July 14. Is BTC Unlikely To Hit A New ATH? Despite holding steady around $115,000, some analysts warn that Bitcoin’s realized price is slowly beginning to show signs of fragility. A drop below the $105,000 mark could lead to increased downside momentum, potentially triggering a larger sell-off. Notably, Binance’s net taker volume has slipped back into negative territory, raising concerns about a near-term correction. Additionally, rising Bitcoin ETF outflows have shown signs of weakness, adding another layer of uncertainty. Still, not all indicators are bearish. Some on-chain metrics suggest BTC may simply be entering a cooling-off period after a brief overheated phase. At press time, BTC trades at $116,316, up 2.1% in the past 24 hours. Powered by WPeMatico

Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. Manufacturers of bitcoin (BTC) mining equipment won’t be feeling the pinch of a new round of tariffs the White House has imposed on the semiconductor industry, as the largest chip manufacturers like TSMC and Samsung have an exemption from the new rules due to their investments in the U.S. Officials in Taiwan confirmed to local press that TSMC would have an exemption from the 100% tariffs because of its facilities in Phoenix, which opened in 2023. South Korean officials also confirmed that Samsung would have a similar exemption because of its fabs in Texas. TSMC and Samsung manufacture the Application Specific Integrated Circuits (ASICs) designed by BTC mining companies like Bitmain, Canaan, and Bitdeer. Bitmain and Canaan didn’t respond to a request for comment from CoinDesk. A spokesperson for Bitdeer confirmed that they partner with TSMC to manufacture the ASICs used for their miners, and thus wouldn’t feel the pinch of tariffs. The spokesperson also said that they expect to bring online a U.S.-based factory to assemble the miners within a year. Broadly speaking, the market seems to have shrugged off the new tariffs. In Taipei, the TAIEX, an index of Taiwan’s stock market, is set to open trading Friday up 2.3% with TSMC up 3% and approaching record highs. Even the targets of these tariff policies are in the green. SMIC, the Shanghai-based rival to TSMC, which lacks a U.S. facility, is up on the week in Hong Kong, outperforming the Hang Seng index. Market Movers: BTC: Bitcoin has entered a bullish cooldown after hitting a $123K all-time high, now trading at $117,386.04, with softer momentum and weaker on-chain signals pointing to short-term consolidation or mild downside risk, according to a report by CryptoQuant. ETH: Glassnode data shows short-term capital flow has shifted from Solana to Ether, with ETH/SOL at a year-to-date low and ETH/BTC breaking above its 200-day EMA for the first time in two years, as ETH trades at $3,905.42 (+6.43%) and approaches $4K, with open interest at $58B and network activity at record highs. Gold: Gold is trading at $3,387, up 0.5%, as the market weighs the impact of tariffs on India for importing Russian oil. Nikkei 225: Asia-Pacific markets opened mixed Friday, with Japan’s Nikkei 225 up 1.18% and the Topix hitting a record 3,031.78, led by sharp gains in Nippon Chemical Industrial, Miyakoshi Holdings, J-Lease, and Japan Electronic Materials. S&P 500: Stocks rose Wednesday, with the S&P 500 up 0.73% to 6,345.06, as Apple jumped 5% on news it will boost U.S. manufacturing investment by $100B to a total of $600B over four years. Elsewhere in Crypto: SEC’s Long-Running Case Against Ripple Officially Over (CoinDesk) Stablecoin Provider Paxos to Pay $26.5M Fine to Settle Charges Related to Binance (Decrypt) Ripple to Buy Stablecoin Payments Firm Rail for $200M to Boost RLUSD (CoinDesk) Powered by WPeMatico