Author: dfmines

Solana is currently breaking above an Ascending Triangle that could set a target of around $300, according to a cryptocurrency analyst. Solana Is Breaking Out Of An Ascending Triangle In a new post on X, analyst Ali Martinez has discussed about a triangle technical analysis (TA) pattern forming in the 12-hour price of Solana. The pattern in question is an “Ascending Triangle,” which appears whenever an asset’s price consolidates between two converging trendlines. Related Reading: Solana Social Media Hype Hits 11-Week High As Price Jumps 16% The special feature of the formation is that the upper trendline is parallel to the time-axis, while the lower one is sloped upward. This means that as the price travels between the lines, it observes its range shrink to an upside. As with any consolidation pattern, the upper line of the Ascending Triangle is likely to present resistance to the price, while the lower one support. A break out of either of these levels can signal a continuation in that direction: a surge above the triangle is a bullish sign and a fall under it a bearish one. Like the Ascending Triangle, there is also the Descending Triangle, which is quite similar except for the fact that its lower line is parallel to the time-axis instead. Generally, the probability of a breakout is considered more likely to occur beyond the resistance line in an Ascending Triangle, while in a Descending Triangle, a breakdown of support is more probable. Now, here is the chart shared by the analyst that shows the Ascending Triangle that has appeared in Solana’s 12-hour price: As is visible in the above graph, Solana has been trading inside the pattern for many months now and recently, it has been trying to break out of it. This attempt at a surge above the resistance line comes as SOL has been approaching the apex of the triangle. Usually, a breakout becomes more likely to occur as the price nears the end of the pattern. This is because the consolidation range gets quite narrow around the apex. The same effect may be in play for the cryptocurrency right now. In the event that the latest attempt does lead to a sustained bullish push, Solana may be looking at the $300 level, according to Martinez. This level is around where the 1.618 Fibonacci Extension level lies. Related Reading: Bitcoin Rally Over? CryptoQuant’s Bull Score Index Turns Bearish Fibonacci Extension lines are drawn on a price chart based on ratios from the Fibonacci series. The 1.618 ratio in particular corresponds to the famous Golden Ratio. If Solana does end up witnessing a rally to this target of $300, then its price would have gone up by around 46% from the current value. SOL Price At the time of writing, Solana is floating around $205, up more than 5% over the last seven days. Featured image from Dall-E, charts from TradingView.com

U.S. lawmakers ramped up global momentum on digital asset regulation and monetary policy during a high-stakes European tour aimed at fortifying transatlantic financial and security alliances. Congressional Delegation Advances US-Europe Alliance on Crypto, Policy, and Security U.S. House Committee on Financial Services Chairman French Hill announced on Aug. 29, 2025, that he and Rep. Vicente […]

Bitcoin remains under pressure after sliding from its all-time high above $124,000 earlier this month. At the time of writing, the asset trades at $110,219, reflecting a weekly decline of about 2% and a broader drop of more than 10% from its peak. Despite the correction, analysts continue to examine on-chain data for signs of the market’s next direction. Among the latest insights, CryptoQuant contributor CryptoOnchain highlighted the significance of the MVRV (Market Value to Realized Value) Price Bands, a long-observed metric used to assess market cycles. According to the analyst, Bitcoin’s current positioning above key support bands suggests the uptrend remains intact, but with room for both continued growth and potential volatility. Related Reading: JPMorgan Says Bitcoin Is ‘Undervalued’—But By How Much? MVRV Price Bands Point to Potential Cycle Top The MVRV Price Bands model has historically been used to identify both bottoms and tops in Bitcoin’s long-term cycles. CryptoOnchain noted that the model’s lower band, often referred to as the “floor price,” reliably marked market lows in 2018 and 2022, while the upper band highlighted cycle peaks such as 2017 and 2021. Currently, Bitcoin’s trading price is positioned well above the model’s floor price of around $52,300 and its median support level of approximately $91,600. This indicates what the analyst referred to as a “healthy uptrend” with persistent activity from long-term holders. Importantly, the model’s projected ceiling price suggests that Bitcoin could reach as high as $183,000 by August 2025, assuming historical trends remain consistent. The analyst emphasized that while the ceiling level offers a potential target, traders should monitor the mid-price band for signs of weakening momentum. A decisive move below this level could indicate a shift in trend, raising the possibility of deeper corrections even within a bullish cycle. Bitcoin Cost Basis Trends Reflect Market Behavior A separate analysis by CryptoQuant contributor BorisD provided additional context by examining the cost basis of Bitcoin investors on Binance. Data shows that the average deposit address cost basis on Binance has risen from $44,000 earlier this year to $62,000. This suggests that investors are actively accumulating at higher price zones, particularly around Bitcoin’s recent peaks. New whale investors, defined as large-scale buyers with significant holdings, currently hold an average cost basis of $108,000, which is emerging as a key support level. According to BorisD, this level could serve as the foundation for the next leg of upward momentum if demand persists. At the same time, miner-linked wallets showed a slight reduction in their average cost basis from $58,000 to $54,000, hinting at modest selling pressure from mining operations. Related Reading: Bitcoin And The September Curse: Can This Time Be Different? Long-term holders, meanwhile, remain well positioned, with a cost basis near $40,000. This region has historically been considered a strong accumulation zone, providing resilience during broader market corrections. BorisD pointed out that cost basis levels often track closely with price behavior and can act as both support and resistance during volatile swings. Featured image created with DALL-E, Chart from TradingView

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The Bitcoin price has experienced a notable downturn, with the market’s largest cryptocurrency retracting 8% in the monthly time frame. This decline has sparked significant criticism on social media, particularly against the crypto exchange Binance, which some investors accuse of contributing to the current market slump. Binance Behind The Bitcoin Price Slump? Market analyst DeFitracer shared insights on social media site X (formerly Twitter), questioning why the market is experiencing a sell-off despite what he describes as an oversaturation of positive catalysts.  These include record inflows into crypto exchange-traded funds (ETFs) and anticipated interest rate cuts by the Federal Reserve (Fed) anticipated for next month. Yet, he points out, “we’re still dumping—why?” Related Reading: LINK Price Climbs Following Chainlink’s Deal With US Commerce Department, Eyes $30 According to DeFitracer, the ongoing sell-offs appear to be orchestrated by Binance, which he claims is using a third party, market maker Wintermute, to execute its trades.  This strategy, he argues, is designed to set a bearish trend that retail investors follow, ultimately benefiting Binance through profits from futures liquidations. In fact, 2024 saw $344 million liquidated in a single day on the exchange, and current market manipulations may yield similar results, he asserts. As of press time, the market’s leading cryptocurrency trades at $108,295, meaning a 12% retrace from all-time high (ATH) levels of $124,000 reached earlier in the month.  Three-Phase Reaction To Crypto Sell-Off DeFitracer also highlighted significant activity surrounding Solana (SOL). The analyst indicates that beyond Bitcoin, Binance has also been offloading SOL, potentially driven by an alleged desire to curb competition with its own token, Binance Coin (BNB), which currently has a market cap of $117 billion compared to SOL’s $102 billion.  The analyst also said in his analysis that this activity raises questions about where Binance is sourcing its Solana, as their proof-of-reserves only shows client funds, suggesting that customer assets might be at risk in these trading maneuvers. DeFitracer added that these movements echo the practices of collapsed exchanges like FTX, which similarly utilized client funds through its trading arm Alameda Research:  This is a terrible look for the exchange. User funds should stay safe – not be used for market games. FTX pulled the same move with client funds through Alameda Research. We all know how that ended Related Reading: Ethereum Could Suffer $5 Billion Sell Pressure As Exit Queue Crosses 1 Million ETH While the current market conditions may seem daunting, DeFitracer outlines a potential three-phase market reaction: an initial phase of panic leading to retail exits, followed by accumulation during the downturn, and finally, a sharp rebound.  He emphasizes that the upcoming rate cuts by the US Federal Reserve next month could significantly shift the market sentiment, recalling how similar cuts in 2021 triggered a massive bull run, propelling the Bitcoin price to new heights. Featured image from DALL-E, chart from TradingView.com 

Fresh data from Binance suggests that Bitcoin’s (BTC) illiquid supply has reached historically high levels, a development that could set the stage for BTC to eye the $150,000 milestone by the end of 2025. Bitcoin Illiquid Supply On Binance Hit Record Highs According to a CryptoQuant Quicktake post by contributor Arab Chain, Bitcoin’s illiquid supply recently touched new highs on the Binance exchange. In contrast, BTC’s liquid supply has seen a significant decline. Related Reading: Bitcoin Sentiment On Binance Turns Bullish – But Is The Market Setting A Trap? The CryptoQuant contributor shared the following chart which shows the difference between BTC’s liquid vs illiquid supply on Binance. Bitcoin recently hit a fresh all-time high (ATH) above $120,000 before a price correction, showing that the market is currently in a state of “liquidity scarcity” supporting an upward trend. A high level of illiquid supply essentially means that more BTC is locked away in wallets with minimal movement, effectively removing it from circulation on exchanges. This reduces the amount of Bitcoin available for trading. A lack of BTC readily available on exchanges increases buying pressure on the limited supply that remains. This dynamic helps explain how BTC has continued to reach new highs even without massive inflows of external liquidity. That said, there remain some risks. BTC’s low liquid supply means that whales or large holders can exert significant pressure on the cryptocurrency through any sudden sell-off. Such pressure could result in sharp price correction for the digital asset due to the lack of liquidity to absorb the new supply. At the same time, current on-chain data indicates that whales and institutions appear to be adopting a “hold for the long haul” strategy, underscoring their confidence in Bitcoin’s role as a long-term strategic asset. However, analysts caution that any sudden shift in this behavior would be felt almost immediately across the market. BTC In A “Fragile Bull Run” Arab Chain described the present market situation as a contradictory one. On one hand, rising illiquid supply provides a foundation for further price appreciation. On the other, the lack of liquid supply creates a fragile market structure where even moderate selling could cause significant volatility. Related Reading: More Pain For Bitcoin? Open Interest Surpasses $40 Billion As Longs Crowd In As a result, Bitcoin is currently in a “fragile bull run” in that it is supported by long-term holders but susceptible to sudden selling from whales. However, if BTC illiquid supply continues to rise, then it could move toward levels exceeding $150,000 by the end of 2025. On the flipside, if the liquid supply increases due to persistent sell-offs, then the market could face challenges, leading to a price decline to as low as the $90,000 to $100,000 range. Despite BTC’s fragile price momentum, some experts continue to remain optimistic. Crypto analyst Timothy Peterson recently predicted that BTC can surge as high as $160,000 by Christmas. At press time, BTC trades at $109,286, down 3% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com

Tether has scrapped plans to end USDT on Omni, Bitcoin Cash SLP, Kusama, EOS and Algorand, allowing it to continue in a limited capacity.