In a delightful tête-à-tête on CNBC Television, the former president of the NYSE, the venerable Tom Farley, waxes poetic about how the crypto industry has flourished over the past decade, thanks to our beloved retail traders. But lo and behold! A shift is afoot, as the institutional investors now wish to take center stage! 🎭
Bitcoin’s bulls, those darlings of excess, are chasing the elusive $123,218, as if it were the last waltz of the season. 🕺💸
Oh, and here’s the cherry on top: Darkfost, that ever-dramatic top analyst, points to some juicy data from DefiLlama (not the name of your new favorite llama-themed NFT project, sadly). Turns out Solana’s total value locked (TVL) in SOL has hit a multi-year high, all thanks to more tokens getting locked in lending, staking, and liquidity pools. Apparently, people are starting to trust the network again, which is quite the turn of events. It’s like finding out that your 12-year-old’s DIY lemonade stand actually made a profit this year.
Now, Aquanow is a digital asset provider from Canada, eh? And they’ve managed to buddy up with SGB, a digital bank sanctioned by, hold onto your monocles, the Central Bank of Bahrain! That’s right, folks! Together, they’re opening the door to fiat banking services for fancy institutions and big-time enterprises strutting their stuff in the digital asset world! Ta-da!
On a Wednesday of dubious sanctity-August the Thirteenth-this carnival of numbers added yet another zero, inflating by ten percent in a week.
Reason? Ah, the Fed might cut rates (94% odds on Polymarket, 87% on the CME, 100% in every moonboi’s dreams).
Inflation cooled to 2.7%, like a lukewarm confession heard after midnight mass.
U.S. tariffs on our celestial Middle Kingdom delayed ninety days; investors exhaled in unison, their sigh scented with hopium and Panda Express. 🐼
Meanwhile, Bitcoin flirted with $120K again-just a casual 3% shy of its July records. Looks like consolidation, or maybe Bitcoin just trying to look modest before skyrocketing again. And hey, that’s good news for Bitcoin Hyper ($HYPER), because why not ride the wave to the moon?
Whales-those massive fish that make the ocean look like a kiddie pool-snapped up a staggering $161K worth of Bitcoin Hyper ($HYPER) and a cool $105K of TOKEN6900 ($T6900) in a single day. Truly, a display of liquidity akin to a bank heist in broad daylight.
Morgan, with a wink and a nod, reminds us that Ripple’s CEO, Brad Garlinghouse, has painted escrow as a beacon of stability, a shield against the tempest of market chaos. “Predictability, not price drops!” he proclaims, as if holding a torch in the darkness of financial uncertainty. 🛡️
Apparently, institutional investors and Ethereum ETFs are the heroes of this story. You know, the kind of heroes who don’t wear capes but do wear suits and probably have spreadsheets as their superpower. This rally started earlier this month, and guess what? It’s making everyone else look around like, “Should I be doing something too?” 🦸♂️💼
Now, here’s where things get fun – imagine a gap in the rocket’s path from $119,000 to a more modest $117,000. It’s like a pothole that the market might just decide to fill with a quick little dip before soaring higher. Technically, this dip could coincide with a retest of the top trendline of the bull flag, which sounds fancy but is really just a fancy chart line that traders pretend is an important landmark. Filling gaps isn’t always guaranteed, but it’s statistically more likely than your chances of figuring out why your houseplants keep dying. So, stay tuned to see whether the market takes a little holiday to visit the gap or simply shouts, “We’re off to the races!” 🏁
