Bitcoin Loses Grip

DAILY MARKET OVERVIEW

Support Gets Tested

👋 Hey, Crypto Enthusiasts! The market is throwing curveballs again today, so let’s break it down.

The much-awaited PCE inflation numbers landed right on target at 2.6%.

At first, traders cheered, and both stocks and crypto caught a small bid. But the excitement didn’t last long - profit-taking hit hard, especially in equities.

The S&P 500 slipped from all-time highs as traders locked in gains, and that weakness bled into crypto. BTC slid down to $108K, still clinging to the broader support zone but looking fragile.

• Interestingly, some altcoins are showing surprising resilience. While BTC continues to press lower, Solana and HYPE are printing higher lows, signaling strength and possibly positioning themselves as the frontrunners in the next rally.

• However, despite the current strength, leverage and open interest on Solana are sitting at all-time highs. If the price starts to roll over, it could trigger a wave of long liquidations and set off a sharp cascade lower - definitely something to keep on the radar.

For now, uncertainty lingers. All eyes are on next Friday’s US Unemployment Rate data. 

Weak jobs numbers would fuel hopes of Fed rate cuts, giving both equities and crypto fresh legs. Until then, expect choppy waters with the possibility of a weekend relief bounce.

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SOCIAL SENTIMENT

Altcoin Spotlight & BTC Dominance

Rotation remains the story. After ETH’s big run, Solana is emerging as the leader for now, holding up impressively even as BTC dips.

• That strength is spilling into its ecosystem - Pump.Fun is rising as traders bet on a Solana revival. If DEX volumes really come back, pump revenue will skyrocket and thus increase buybacks.
  

• HYPE cooled off by about 13% since its ATH, but importantly, it’s still setting higher lows. Consolidation after a strong run is healthy, and with more features and catalysts lined up, sentiment remains bullish.

For now, SOL, HYPE, and PUMP stand out as the strongest picks in this choppy environment.

An honorable mention goes to Mantle (MNT) - with Bybit officially adopting MNT as its exchange token, expect new use cases like trading fee discounts and more integrations soon. That could fuel a steady wave of adoption.

Meanwhile, Bitcoin Dominance sits at a critical support level. Last time it bounced strongly from here, BTC outperformed alts. But if dominance breaks down, it could signal the beginning of a true altcoin season. Traders are watching this level closely.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

Ethereum Onchain Volume Hits $320B in August
Ethereum activity soared to $320B in August, its highest since 2021, driven by treasuries, ETF inflows, and lower transaction fees.

Pudgy Penguins Launch “Pudgy Party” Game
Pudgy Penguins rolled out Pudgy Party, a mobile web3 party game with customization, NFTs, and seasonal events, built with Mythical Games.

Luxxfolio Plans $73M Raise for Litecoin Treasury
Canadian firm Luxxfolio is pivoting from bitcoin mining to a Litecoin treasury strategy, targeting 1M LTC by 2026 despite financial struggles.

21Shares Files for Sei ETF With Staking Option
21Shares has filed for a Sei ETF with potential staking, as the SEC reviews multiple altcoin ETFs and weighs rules on staking in funds.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

CoinBureau – Blackrock & Vanguard Are SECRETLY Accumulating Crypto! (29.08.2025 Summary)

CoinBureau recently broke down something surprising - some of the biggest traditional finance giants, BlackRock and Vanguard, are becoming major shareholders in companies that are heavily buying crypto.

• He explained that so-called "digital asset treasury companies" (DATs) are raising billions to stockpile Bitcoin, Ethereum, Solana, and even smaller coins. These companies issue new shares or raise private funds to buy huge amounts of crypto, almost always in bulk.

Here’s where it gets interesting - when you check who owns big stakes in these treasury companies, it’s often the same names we’ve seen in traditional finance: Vanguard and BlackRock. For example, Vanguard owns about 15% of MicroStrategy, the biggest corporate Bitcoin holder, while BlackRock has large stakes in other major treasury firms.

The takeaway? Even though these asset managers often act like they’re cautious about crypto, they’re gaining exposure through stock ownership. CoinBureau’s outlook is that as more of these treasury companies form and crypto prices climb, this hidden accumulation could fuel the next leg of the bull run.

It’s not direct ETF buying, but it’s a quiet, powerful way for Wall Street to get in.

Discover Crypto – Altcoins About to CRASH vs Bitcoin (29.08.2025 Summary)

DiscoverCrypto warns that Bitcoin dominance is about to bounce, which usually means altcoins lose ground compared to Bitcoin. Analyst Benjamin Cowen predicts both BTC dominance and the ETH/BTC pair are at resistance and could soon turn in Bitcoin’s favor.

• At first, this sounds bad for altcoin holders. But the key point is that Bitcoin strength doesn’t always equal altcoin weakness. If Bitcoin surges to $120K–130K, billions could be liquidated in shorts, driving huge momentum. Altcoins might still rise in dollar terms, just not as strongly as Bitcoin.

Right now, most retail investors are heavily in altcoins like ETH, XRP, and Solana rather than Bitcoin. That’s why expectations of a “classic” alt season may be misleading. DiscoverCrypto believes we’re already in phase three of the alt cycle - large and mid-cap alts pumping after Bitcoin and Ethereum.

The outlook: Bitcoin could outperform in the near term, but that doesn’t mean altcoins crash outright. They may simply grow at a slower pace. With interest rate cuts, institutional adoption, and retail FOMO building, the broader market backdrop remains bullish for the next 6–12 months.

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