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Crypto & Web3CoinDesk ·

Bitcoin Tops $71,000, Poised for Rare Bullish Golden Cross Signal

Bitcoin has surged past the $71,000 mark, strengthening its upward price momentum. This rally has set the stage for a technical chart formation known as a golden cross, which traders typically view as a bullish signal. A golden cross occurs when a short-term moving average crosses above a long-term moving average, suggesting potential further gains. However, analysts caution that the rally still faces a significant test before the bullish pattern can be confirmed.

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Crypto & Web3CoinDesk ·

Banks Move Toward Tokenized Deposits on Permissioned Blockchain Systems

Banks are increasingly exploring the tokenization of deposits by moving them onto blockchain networks. Unlike open, public blockchains, these institutions are opting for permissioned systems that offer greater control. The shift is largely driven by the need to maintain privacy standards and meet regulatory compliance requirements. Tokenized deposits represent a new frontier in how traditional financial institutions interact with blockchain technology. This trend signals a broader effort by banks to modernize financial infrastructure while staying within legal boundaries.

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Crypto & Web3CoinDesk ·

Optimism Foundation redirects $49M in OP tokens from user airdrops to ecosystem fund

A decisive vote by an Optimism-funded team has approved a major reallocation of token resources. The plan shifts 546.9 million OP tokens away from user airdrops toward a Foundation-controlled Strategic Ecosystem Fund. The move effectively reduces what users would have received through airdrop distributions. Critics may view the decision as centralizing control over funds that were originally earmarked for the broader community.

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Crypto & Web3CoinDesk ·

XRP Surges 15% as On-Chain Activity Clusters Around Banking Hours

XRP, the cryptocurrency linked to Ripple, has recorded a 15% price increase amid an notable shift in its on-chain transaction patterns. Data reveals that approximately 23% of XRP's on-chain activity now occurs during a three-hour window overlapping London afternoon and New York morning trading hours. This concentration of activity has risen sharply from around 14% recorded during the same period a year ago. The pattern has been dubbed 'banker hours' by analysts, suggesting growing institutional or financially aligned participation in the network.

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Crypto & Web3CoinDesk ·

Bitcoin Rally Fuels Debate Over Whether US Crypto Clarity Act Is Priced In

Bitcoin has experienced a notable rally, prompting discussion among market participants about its underlying drivers. OKX Europe CEO Erald Ghoos suggests that upcoming U.S. cryptocurrency regulations could inject fresh momentum into the crypto market. Ghoos also points to a broader capital rotation trend, with investors appearing to shift funds from AI-related assets back into Bitcoin. The debate centers on whether the anticipated regulatory clarity from the U.S. Clarity Act has already been factored into current Bitcoin prices.

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Crypto & Web3CoinDesk ·

Bitcoin surpasses $71,000 as $3 billion in short positions liquidated

Bitcoin broke out of a six-week consolidation phase, surging past the $71,000 mark. The rally triggered approximately $3 billion worth of short position liquidations, marking the largest such event since at least 2021. Traders who had placed bearish bets were forced to buy back their positions as prices climbed. The combination of compressed supply and forced buybacks amplified the upward price movement.

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Crypto & Web3CoinDesk ·

X Explores Stablecoin Payments for Influencers and Content Creators

Elon Musk's social media platform X is reportedly exploring the use of stablecoins to compensate influencers and content providers. The discussions are currently ongoing, according to a source familiar with the matter. The same source also works with other social media platforms that are testing similar stablecoin-based payment systems. No further details about timelines or specific stablecoin partners have been disclosed.

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Crypto & Web3CoinDesk ·

BitGo becomes first global crypto firm to obtain South Korea virtual asset license

BitGo has secured a virtual asset service provider license in South Korea, claiming to be the first global cryptocurrency company to achieve this. The firm established BitGo Korea as a locally registered entity, built from the ground up rather than through an acquisition. The venture is backed by major South Korean conglomerates Hana Financial Group and SK Telecom. BitGo Korea aims to serve institutional and enterprise clients in the South Korean market.

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Crypto & Web3CoinDesk ·

Bitcoin Nears $72,000 With 15% Surge Since Monday

Bitcoin has climbed approximately 15% since Monday, pushing its price close to the $72,000 mark. The rally has seen the cryptocurrency reclaim several important technical and on-chain levels. Bullish momentum continues to build around the asset, with companies like Strategy and Coinbase also posting gains. The broader crypto market appears to be benefiting from renewed investor confidence driving this upward move.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs attract $517M, Ether funds $189M in strongest daily inflows in months

Spot bitcoin ETFs recorded inflows of $517 million on August 19, while ether funds attracted $189 million on the same day. These figures represent the strongest single-day inflows for both asset classes in several months. The surge in institutional interest coincided with a broad market rally across cryptocurrencies. The rally resulted in approximately $2.7 billion in short positions being liquidated as bearish bets were wiped out.

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Crypto & Web3CoinDesk ·

Crypto trader loses $24M on Ether short position in 12 seconds on Hyperliquid

A trader operating under the Hyperliquid wallet address pension-usdt.eth suffered a $24 million loss on a short position in Ether within just 12 seconds. The trader had previously gained notoriety for earning $49 million by shorting cryptocurrencies. The loss occurred when Ether's price surged sharply, forcing the liquidation of a 50,000 ETH short position. Five separate liquidation orders were triggered during the unwind, which in turn pushed Ether's price even higher. The rapid sequence of events on the Hyperliquid platform highlights the extreme risks associated with leveraged crypto trading.

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Crypto & Web3CoinDesk ·

Crypto short sellers wiped out $2.74B in a day as Bitcoin nears $70,000

Traders who had bet against cryptocurrency markets suffered record losses of $2.74 billion in a single day. The liquidations were triggered by a sharp surge in Bitcoin's price as it pushed toward the $70,000 level. The wipeout surpassed the previous record set during the short side of the October 2025 market crash. This makes it the largest single-day short liquidation event in crypto market history. The scale of the losses underscores how quickly leveraged bearish positions can unravel during sudden upward price moves.

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Crypto & Web3CoinDesk ·

Crypto Market Surges: Ether Up 18%, Bitcoin Crosses $69,000

A broad cryptocurrency rally pushed Ether up 18% to $2,250 while Bitcoin surpassed $69,000. Nearly every major cryptocurrency recorded double-digit gains over the week, with only Tron failing to join the surge. The rally coincided with the U.S. Treasury doubling its bond buyback program, which appeared to boost market sentiment. The upward momentum wiped out approximately $1.4 billion worth of short positions across the crypto market.

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Crypto & Web3CoinDesk ·

HYPE Token Surges 11% After Trump Says CFTC Eyeing Hyperliquid Regulation

President Donald Trump stated during a White House meeting on Wednesday that CFTC Chair Mike Selig is actively working to bring Hyperliquid under U.S. federal regulation. Hyperliquid is a perpetual futures trading platform that currently operates outside U.S. regulatory oversight. Trump's remarks signaled a potential path for the platform to gain formal recognition within American financial rules. Following the announcement, Hyperliquid's native token HYPE jumped 11% in response to the news.

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Crypto & Web3CoinDesk ·

Trump urges Congress to pass Clarity Act at White House crypto summit

President Trump called on Congress to advance the Clarity Act during a crypto-focused event held at the White House. The meeting brought together CEOs from multiple technology-oriented sectors ahead of the first Innovation Advisory Committee session at the CFTC. The gathering signaled the administration's push to establish clearer regulatory frameworks for the cryptocurrency industry. The Clarity Act is aimed at defining oversight boundaries between federal regulators for digital assets.

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Crypto & Web3CoinDesk ·

Fairshake PAC loses $2M bet in Florida primary races

Crypto-backed political action committee Fairshake suffered a $2 million loss following unsuccessful campaigns in Florida primary elections. The PAC, which is among the most prominent crypto-affiliated political groups in the US, backed candidates who failed to secure wins. The effort drew significant criticism after Fairshake's advertisements were found to feature fabricated headlines. The setback marks a notable stumble for a well-funded committee that has positioned itself as a major force in shaping crypto-friendly political outcomes.

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Crypto & Web3CoinDesk ·

Bitcoin Tops $68,000 as Treasury Bond Buybacks Fuel Crypto Rally

Bitcoin surged approximately 6% to cross the $68,000 mark following a boost in investor risk appetite. The rally was triggered after the U.S. Treasury doubled the size of its bond buyback program. The move prompted a broader crypto market uptick, with Ethereum, Solana, and crypto-related stocks also climbing. The sharp price rise led to roughly $1.4 billion in short positions being liquidated across the market.

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Crypto & Web3CoinDesk ·

Bitcoin Approaches Technical Pattern That Analysts Say Could Push Price to $76,000

Bitcoin is nearing a key technical formation that market analysts believe could trigger a significant price rally. If the pattern completes, some analysts project prices could climb as high as $76,000. The development is being closely watched by traders and technical analysts in the cryptocurrency market. No specific timeline has been given for when the pattern might fully form or the price target could be reached.

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