Traders are braced for the latest U.S. inflation data that could unleash enthusiasm for risk assets if price pressures are seen to be easing...
The crypto market is up today, with more than 90 of the top 100 coins in green over the past 24 hours. In this time, the cryptocurrency market capitalization has increased by 2.3% to $4.12 trillion. At the same time, the total crypto trading volume is at $201 billion, the highest it’s been in days. TLDR: Crypto market turns green, with most of the top 100 coins going up; BTC appreciated 0.4% and ETH is up 8%, trading at $119,052 and $4,634, respectively; We’re seeing normal price fluctuations; Excepted US CPI data reinforce expectations of a rate cut in September; Should BTC break the supply zone on strong daily volume, it could open a new leg upward; US ETH ETFs again see higher interest compared to US BTC spot ETFs, with inflows of $523.92 million compared to BTC ETF’s $66 million; Short-term BTC demand remains strong; Increase in corporate treasury holdings in BTC boosts sentiment; Crypto market cap surpassing Apple’s is “a clear reflection of strong sentiment”. Crypto Winners & Losers At the time of writing, all top 10 coins per market capitalization have increased over the past 24 hours. Bitcoin (BTC) is largely unchanged as it’s up by 0.4% in a day, now trading at $119,052. This is the smallest decrease in this category. At the same time, Ethereum (ETH) has increased by 8.3%, now trading at $4,634. It’s the category’s second-best performer. Solana (SOL) is the highest gainer, having risen 12.3% to the price of $196.7. As for the top 100 coins, four of them recorded double-digit increases. The highest among these is Binance Staked SOL (BNSOL) , which appreciated 12.5% to $210.87. It’s followed by Jito Staked SOL (JITOSOL)’s 12.3% to the price of $240.36. Solana and Pump.fun (PUMP) are next. At the same time, six coins are down. Monero (XMR) fell the most, followed by Provenance Blockchain (HASH) , having dropped 5.2% and 3.3% to $246.99 and $0.02858, respectively. The market is still heavily influenced by the macroeconomic elements, particularly those US-related. While the concerns surrounding tariffs and economic health largely subsided, investors focused on economic data, particularly Tuesday’s Consumer Price Index (CPI) report. Overall, it showed expected numbers, with annual inflation holding steady from the month prior. With this, expectations for rate cuts by the Federal Reserve in September persist. Inflation is 50% above the Fed's target, and rising. Furthermore, core CPI has been above 3% since 2021, yet you are arguing for rate cuts? Are you mad? https://t.co/ry0Lk6bR92 pic.twitter.com/apxiyEdpHS — Gordon Johnson (@GordonJohnson19) August 12, 2025 ‘Sentiment is a Significant Price Driver’ James Toledano, Chief Operating Officer at Unity Wallet , commented that currently, we’re seeing normal price fluctuations. Bitcoin’s latest sideways price action was possibly a result of investor caution in the lead-up to US CPI inflation data release. Additionally, Donald Trump’s meeting with Vladimir Putin this week may lead to heightened geopolitical tensions that could increase safe-haven demand for BTC. However, “there’s no clear evidence that it will meaningfully sway the BTC price in either direction,” Toledano argues. He continued: “An increase in corporate treasury holdings in traditional finance, whether in cash, bonds, or other assets, won’t directly raise share prices in the same mechanical way that buying or buying back stock would. Bitcoin however might be different because sentiment is such a significant price driver and an increase in corporate treasury holdings in Bitcoin surely boosts sentiment for the digital asset as it speaks to broader adoption and acceptance within traditional finance.” Additionally, Dom Harz, co-founder of BOB , commented on the crypto market cap surpassing Apple , saying that it’s “a clear reflection of strong sentiment.” Bitcoin is trading around $120,000 and could reach another ATH in the near future, “with institutions and Bitcoin DeFi playing a large part in that rally,” Harz says. Institutional inflows into the ETFs rise, resulting in Bitcoin “moving deeper into the financial mainstream.” Yes, besides the price, “the bigger transformation lies ahead,” with the rise of Bitcoin DeFi. “As institutions grow their reserves, they’ll seek to put those holdings to work, driving innovation and accelerating development. This shift will cement Bitcoin’s role not just as a store of value, but as a fully functional layer in the global financial system,” Harz says. Meanwhile, Glassnode noted bullish signals, finding that newer BTC buyers are paying a premium and that short-term demand remains strong. A useful gauge of short-term demand reversals: when the cost basis of 1w–1m holders exceeds that of 1m–3m holders, it signals newer buyers paying a premium – a bullish sign. The gap remains wide, suggesting short-term demand for #Bitcoin is still strong. pic.twitter.com/EdM3U9yOqY — glassnode (@glassnode) August 12, 2025 Levels & Events to Watch Next At the time of writing on Thursday morning, BTC trades at $119,052. Its lowest point of the day was $118,252, climbing above the $120,000 level to $120,203. Overall, BTC is up 4.4% in a week and down 2.6% in a month. While it failed to maintain this level, it has attempted to retake it several times. Moving above $120,500 is likely to lead further to $122,000 and towards a new all-time high. For now, the signs point to a continued upward momentum. A break above $123,250 could open doors to $127,000. In case of a bearish reversal, the price could dip to $113,650 and $110,675. Bitcoin Price Chart. Source: TradingView Bitunix analysts commented that BTC’s $120,000–$123,000 range is “a clear high-density supply zone with concentrated selling pressure.” Secondary supports lie at $116,000 and $112,000. “Without strong volume, an upside breakout is prone to rejection and pullback,” they said. With the CPI data supporting rate-cut expectations, the analysts recommend investors to “monitor the USD and US Treasury trends – should BTC break the supply zone on strong daily volume, it could open a new leg upward.” Ethereum is currently trading at $4,634. It started the day at the low of $4,265 and then steadily increased to the intraday high of $4,674. Overall, ETH is still pushing towards its previous ATH of $4,878, seen in November 2021. Over the past week, ETH appreciated 29.3%, as well as 52.3% in a month, still outperforming BTC. $ETH is outperforming $BTC by 4.4%. Are we entering altseason? pic.twitter.com/XZjaRWy7Qf — CoinGecko (@coingecko) August 12, 2025 Meanwhile, the crypto market sentiment has increased slightly today within the greed zone. The crypto fear and greed index is up to 63 today from 60 yesterday. Investors seem greedier upon the overall increase in the crypto market. Yet, the market doesn’t seem overheated at the moment, suggesting that a larger correction is likely not coming in the near term. Source: CoinMarketCap Furthermore, the US BTC spot exchange-traded funds (ETFs) continued the inflow streak. Tuesday saw positive flows of $65.95 million . BlackRock is the only one with positive flows in this group, with $111.44 million. Grayscale and Ark$21Shares recorded outflows of $21.63 million and $23.86 million. Source: SoSoValue At the same time, the US ETH ETFs took in $523.92 million, following a record-breaking $1.02 billion recorded on Monday. Six of the nine ETFs recorded flows, all of them positive. The highest among these is BlackRock’s $318.67 million, followed by Fidelity’s $144.93 million. Source: SoSoValue Meanwhile, Grayscale Investments registered two new statutory trusts in the US, listing the entities as the Grayscale Cardano Trust ETF and the Grayscale Hedera Trust ETF. [FILING] Grayscale Registers Hedera and Cardano Trust ETF in Delaware $HBAR $ADA — BecauseBitcoin.com (@BecauseBitcoin) August 12, 2025 Also, Kazakhstan-based investment manager Fonte Capital will launch its BTC ETF on Wednesday on the Astana International Exchange (AIX). The fund will hold BTC directly. US-regulated BitGo Trust will be the custodian, and the Astana International Financial Centre (AIFC) will regulate the fund. “The Fund is registered as non-exempt, making it accessible to a broad range of investors, including retail participants,” the announcement says. It’s the latest of the country’s crypto-friendly developments. Kazakhstan is exploring the launch of crypto banks as part of its broader push to build a sustainable and regulated digital asset ecosystem. #Kazakhstan #Bitcoin https://t.co/egghK92tqY — Cryptonews.com (@cryptonews) April 30, 2025 Quick FAQ Why did crypto move with stocks today? Both the crypto and stock markets recorded notable increases. At Tuesday’s closing time, the S&P 500 was up by 1.13%, the Nasdaq-100 increased by 1.33%, and the Dow Jones Industrial Average rose by 1.1%. The stock market surge followed the US CPI report, which showed expected inflation numbers, strengthening investor expectations that the Fed will cut interest rates in the near term. Is this rally sustainable? Following yesterday’s expected pullback, crypto has continued an upward trajectory, with still more room to grow. That said, investors are keeping an eye on macroeconomic developments, which may pull the market to either direction. You may also like: (LIVE) Crypto News Today: Latest Updates for August 13, 2025 The crypto market is up today, with more than 90 of the top 100 coins in green over the past 24 hours. In this time, the cryptocurrency market capitalization has increased by 2.3% to $4.12 trillion. At the same time, the total crypto trading volume is at $201 billion, the highest it’s been in days.Crypto Winners & LosersAt the time of writing, all top 10 coins per market capitalization have increased over the past 24 hours.Bitcoin (BTC) is largely unchanged as it’s up by 0.4%... The post Why Is Crypto Up Today? – August 13, 2025 appeared first on Cryptonews .
TL;DR SHIB is well in the green today (August 13), with some analysts recently suggesting it could be ready to soar to a new all-time high in the near future. However, some critical indicators, including the RSI, hint that the price might cool off in the short term. What Triggered the Rally? Shiba Inu’s price has jumped by over 8% in the past 24 hours and is currently trading at around $0.00001394 (per CoinGecko’s data). Its market capitalization exceeded $8.2 billion, making it the 28th-largest cryptocurrenc y. SHIB Price, Source: CoinGecko Perhaps the most likely reason behind the pump is the broader rally of the digital asset market, more specifically, the meme coin sector. Popular assets of that type, including Dogecoin (DOGE) , Pepe (PEPE), Bonk (BONK), Pump .fun (PUMP), Fartcoin (FARTCOIN), dogwifhat (WIF), and many more have posted double-digit gains on a daily scale. Another factor could be the resurgence of Shiba Inu’s burning mechanism. The burn rate has exploded by almost 50,000% over the last 24 hours, with nearly 90 million tokens sent to a dead wallet. Interestingly, a single transaction comprised around 98% of that amount. The program’s ultimate goal is to reduce the overall supply of SHIB coins, thus making them more valuable in time (assuming demand remains strong). Investors Should Remain Cautious Despite SHIB’s revival and the numerous predictions on X that the price could keep pumping in the short term, people should keep in mind certain indicators that point to a potential pullback. Shiba Inu’s exchange netflow has been positive in the last week, signaling that investors have switched from self-custody methods to centralized platforms. This , in turn, increases the immediate selling pressure. SHIB Exchange Netflow, Source: CryptoQuant The meme coin’s Relative Strength Index (RSI) is also worth monitoring. The technical analysis tool measures the speed and magnitude of the latest price changes, helping traders identify potential reversal points. Typically, readings around and beyond 70 suggest the valuation has increased too much in a short period of time and could be due for correction. Conversely, anything below 30 is considered a buying opportunity. As of this writing, the RSI stands above 62. SHIB RSI, Source: CryptoWaves The post Why Is the Shiba Inu (SHIB) Price Up Today? appeared first on CryptoPotato .
Terraform Labs Founder Do Kwon Pleads Guilty in $40B Crypto Fraud Case | Qubic’s Claim of Monero Majority Hashrate Sparks 51% Attack Concerns | Circle Shares Fall After 10M-Share Secondary Offering Announcement
Federal and international law enforcement officers moved in late July to disrupt the BlackSuit ransomware gang , seizing servers, domain names and roughly a million dollars in cryptocurrency tied to its operations. According to the Justice Department, the action included an unsealed warrant for the seizure of digital assets and was led by Homeland Security Investigations with help from the Secret Service, the IRS and the FBI. International Law Enforcement Action A statement from the Justice Department says investigators worked with partners in the UK, Germany , Ireland, France, Canada, Ukraine and Lithuania to carry out the takedown. Michael Prado, deputy assistant director at the Homeland Security Investigations Cyber Crimes Center, said law enforcement aimed to dismantle the systems that let these groups operate, not just pull a few servers offline. The move followed other recent steps by the US, including sanctions against a ransomware hosting provider in July. Justice Department Announces Coordinated Disruption Actions Against BlackSuit (Royal) Ransomware Operations Law Enforcement Seizes Servers, Domains, and Approximately $1 Million In Laundered Proceeds Owned By BlackSuit (Royal) Ransomware “The BlackSuit ransomware gang’s… pic.twitter.com/EIXS7X0Su3 — National Security Division, U.S. Dept of Justice (@DOJNatSec) August 11, 2025 Scope Of The BlackSuit Campaign Based on reports, BlackSuit first appeared as a spinoff of the Royal ransomware gang and has been active since at least 2023. Officials say the group targeted critical infrastructure across sectors — healthcare, government facilities, manufacturing and commercial sites. Since 2022 investigators have linked the gang to more than 450 known victims in the US and reported that it has received over $370 million in ransom payments. Ransom demands have typically ranged from about $1 million to $10 million in BTC, and Cybersecurity and Infrastructure Security Agency data lists the largest single demand at $60 million. How The Funds Were Traced Reports disclose that a 2023 ransom payment of 49 BTC — worth roughly $1.4 million at the time — was involved in the funds now seized, and that part of that payment was deposited and withdrawn repeatedly from a crypto exchange until the account was frozen in early 2024. The DOJ did not name the exchange. Officials say this kind of tracing and cooperation with private firms is what allowed agents to follow the money trail and secure assets connected to the scheme. This operation removed infrastructure and recovered roughly $1 million tied to a gang accused of hundreds of attacks and hundreds of millions in ransom takings. The clampdown is a strong tactical win and a clear sign that authorities and international partners are working together — but disruption alone won’t stop every attack. Featured image from Bing Create, chart from TradingView
XRP price retests bullish breakout, eyes a 12% price uptick.
Global financial services company Western Union’s acquisition of International Money Express, Inc. (Intermex) is drawing attention from the crypto space, as analysts highlight its potential boost for Ripple and XRP. With Intermex confirmed as an On-Demand Liquidity (ODL) user of Ripple, the deal could strengthen blockchain-powered payment flows across the US while expanding Western Union’s retail and digital reach. Western Union Expansion Could Bolster XRP And Ripple Market expert ‘Xaif Crypto’ pointed out in an X social media post on Monday that Western Union’s $500 million all-cash acquisition of Intermex could have significant implications for Ripple and XRP. According to the analyst, Intermex has been a user of Ripple XRP ODL services since 2020, making it an active player in cross-border payments, particularly across Latin America. Related Reading: Ripple’s XRP Cannot Replace SWIFT? Expert Says This Crypto Is A Better Fit Notably, Western Union announced that it will take over Intermex in a recent press release on August 10. By acquiring Intermex, the international bank is not only gaining a well-established remittance business but also inheriting its Ripple-powered payment infrastructure. Xaif Crypto has stated that this strategic move further positions the company to dominate money flows across all of America. As a result, it marks a significant step toward XRP’s broader objective of achieving global market dominance. Based on reports from the press release, the acquisition could directly strengthen its North American retail operations while expanding its reach beyond Intermex’s historically high-growth Latin American operations. It is also expected to accelerate digital customer acquisition, enabling faster onboarding of Western Union’s payment ecosystem. Moreover, the combination of the international bank’s vast global network and Intermex’s use of Ripple’s ODL could enhance the speed, reliability, and cost-efficiency of transactions, potentially increasing XRP’s utility and adoption in high-volume remittance markets. By leveraging Intermex’s six million customers and strong agent relationships, Western Union is also set to broaden the footprint of Ripple-backed transactions across multiple geographies. This strategic acquisition further aligns with the growing trend of financial giants tapping blockchain technology to remain competitive in the evolving global payments market. This could also give Ripple and XRP a stronger foothold in their mission toward securing a dominant role in worldwide payment systems. Intermex‘s Deal Structure And Growth Outlook Under the agreement, Western Union will reportedly acquire Intermex for $16 per IMXI share in cash, valuing the deal at approximately $500 million in equity and enterprise terms. This figure represents a 50% premium over Intermex’s 90-day volume-weighted average price. Related Reading: XRPL Infrastructure: Ripple CTO Shares ‘Most Useful Thing’ For The Network Officially, the deal has been unanimously approved by both companies’ boards and is expected to close in mid-2026, pending regulatory and shareholder approvals. Intermex’s established brand, operational efficiency, and market expertise will be integrated into Western Union’s extensive network, creating opportunities to work better together. Furthermore, the companies anticipate $30 million in annual run-rate cost savings within two years, with additional revenue potential through expanded product offerings. The acquisition is also expected to immediately boost Western Union’s adjusted earnings per share by over $0.10 in the first full year after closing. Featured image from iStock, chart from Tradingview.com
Summary Circle Internet Group reported strong Q2 revenue, reflecting robust demand for its stablecoin products. Shares have surged since going public a few months ago, but have recently come well off their nearly $300 peak. Despite strong growth, the company trades at a very high valuation compared to partner and crypto peer Coinbase. On Tuesday morning, we received second quarter results from Circle Internet Group ( CRCL ). The stablecoin issuer has seen its shares soar from an IPO price of $31 in early June to nearly $300 at their peak, before coming back to earth very quickly. While the company reported strong overall growth in its top line for Q2, the numbers weren't quite good enough in my opinion, mainly because the stock still trades at a very expensive valuation. Previous coverage of the name I took an early look at Circle back in June after the IPO, at which point I suggested that investors sell the massive rally . With the company not being extremely profitable, potential dilution after going public put the name at a valuation that I was not comfortable with. Since that time, shares have lost more than 10% of their value from their $199 close the day prior to my article being published, whereas the S&P 500 has gained more than 6% and US markets have been racing to new highs. A look at Q2 results As a quick refresher, the company is known most for the stablecoin USDC, which has over $61 billion in circulation. Circle generates a majority of its revenue from interest on the reserves that back the stablecoin. Generally, those reserves are held in low-risk securities like short-term US treasuries and treasury repurchase agreements. As of late Tuesday morning, there was about $65.6 billion in circulation according to Yahoo! Finance data, which is up more than $4 billion since my previous article. For the second quarter of 2025, Circle reported total revenue and reserve income of $658 million. This number was up 53% over the prior year period, and it beat street estimates by more than $13 million. As we often see with companies reporting their first quarter after going public, street analysts are a bit conservative with their estimates. For the quarter, average circulation of USDC was up 86% over the year ago period, but the company's reserve return rate of roughly 4.1% was down 103 basis points from Q2 2024. The main problem I have with Circle currently is its distribution costs, which would be the cost of goods sold for a normal company. Revenues minus these costs only showed 38% growth over the prior year period, 15 percentage points less than the total revenue increase. Essentially, the company's gross margin fell by over four percentage points year over year, and 1.75 points sequentially from Q1 2025. After being at nearly 39% for the first half of this year, management is guiding for this margin number to be at 36% to 38% for the full year, implying a further reduction in the back half of 2025. Bottom line numbers can be extremely messy in the first quarter after going public, as a lot of stock based compensation charges hit the income statement. Circle reported a net loss of $482 million in Q2, driven by almost $600 million worth of non-cash charges. A year earlier, the company delivered a net profit of almost $33 million. The company's balance sheet is quite healthy, finishing June with over $1.1 billion in cash and just about $200 million in debt. The current valuation picture As the company's 10-Q filing states, there were just under 230 million Class A and Class B shares outstanding as of August 8th. With shares at $174 on Tuesday morning, this put the company's market cap at just under $40 billion in total. With more dilution coming from stock based compensation, that number at this given price will rise further moving forward. The company also announced an offering of shares after Tuesday's close. If I were to annualize the Q2 adjusted net profit, Circle shares currently trade for more than 91 times the year's net income. That's a significant premium to partner and fellow crypto firm Coinbase ( COIN ), which goes for about 40 times this year's expected earnings. If I were to look at price to sales for Circle's currently expected revenue , adjusted a little for the Q2 beat, Circle goes for about 15.2 times while Coinbase is at 11.1 times. The average price target on the street is currently $193, implying about 11% upside from current levels, although that number has come down about $30 from late June. Final thoughts and recommendation Circle had a mostly decent first earnings report as a public company on Tuesday. Revenues beat what are usually conservative street estimates, and showed strong yearly growth as the amount of USDC in circulation has soared. Unfortunately, distribution costs are rising even faster, limiting the company's potential bottom line growth. I do think there is the potential for the stablecoin space to grow over time, but I think the company needs to settle into its valuation first. Thus, I'm going to keep my sell rating on the stock for now, given the premium to Coinbase and limited current profitability. I want to see how the company's overall expense structure looks for a more normal quarter, and we have to see if USDC in circulation continues to grow at such a fast rate. Should the valuation come in a little more by the next report, I can look at my rating again then.
The recent surge in the US deficit, now at a record $37 trillion, may lead to quantitative easing, potentially driving Bitcoin’s price to $132,000 by 2025. The US federal debt