The crypto market’s weekend rally extended into Monday as Bitcoin (BTC) and other cryptocurrencies traded in bullish territory. The flagship cryptocurrency’s price action turned bullish on Sunday, surging past a crucial resistance level and breaking past $120,000 early on Monday.
The rally can be attributed to the convergence of several bullish catalysts, including surging ETF inflows, expectations of a rate cut by the Federal Reserve, and a bullish flag pattern. BTC is up nearly 3% over the past 24 hours, trading around $121,655 after reaching an intraday high of $121,981.
Meanwhile, Ethereum (ETH) broke the $4,000 barrier over the weekend, with analysts expecting a new all-time high. The world’s second-largest cryptocurrency has rallied, rising nearly 23% last week, and is up almost 2% in the past 24 hours, trading around $4,300. Ripple (XRP) is marginally up while Solana (SOL) reclaimed $180 over the weekend and is trading around $185, with buyers in control. Cardano (ADA) is marginally up, while Chainlink (LINK) is up almost 4%, trading around $22. Hedera (HBAR), Litecoin (LTC), and Polkadot (DOT) also registered notable increases. However, Toncoin (TON) and Stellar (XLM) defined market trends and traded in the red.
White House Crypto Advisor Bo Hines Resigns
Bo Hines, head of President Donald Trump’s Council of Advisors on Digital Assets, has resigned from his role to return to the private sector. Hines played a crucial role in American crypto regulation, with the sudden and unexpected departure fueling speculations about the reasons behind his resignation. Hines confirmed his resignation through a post on X, and called his experience of working with President Trump and Crypto Czar David Sacks “the honor of a lifetime.” Hines praised their efforts in making the US the “crypto capital of the world” and pledged to support the industry from the private sector.
“Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar David Sacks as Executive Director of the White House Crypto Council has been the honor of a lifetime. Together, we have positioned America as the crypto capital of the world. I’m deeply grateful to the industry for its unwavering support.”
Hines did not give any specific reasons for stepping down, while reactions from the community ranged from admiration to surprise. Some sources speculated that a lucrative private sector opportunity could have prompted Hines to resign.
Crypto Debanking Is Still Happening
Several crypto firms are still facing account closures and denial of banking services under the pretext of de-risking. The crypto community believes the ongoing debanking policy, called “Operation Choke Point 2.0,” is a policy-driven effort to undermine and suppress the growth of digital assets. The crypto industry believed debanking would become a thing of the past following President Trump’s election victory. Trump campaigned on the promise of a crypto-friendly administration, and several early policy moves indicated a friendly attitude towards crypto compared to the previous administration. This led many to believe restrictions on crypto would gradually ease.
However, recent incidents suggest crypto debanking is still occurring. Andreessen Horowitz partner Alex Rampell warned that banks were squeezing crypto and fintech apps, calling it “Operation Chokepoint 3.0.” According to Rampell, banks are hiking fees to access account data or transfer funds to crypto platforms like Robinhood and Coinbase. Alex Konanykhin, CEO of Unicoin, echoed these concerns, adding that US banks were closing accounts for crypto firms without explanation. Konanykhin stated,
“We know about it first-hand, as Unicoin and its subsidiaries have been de-banked, without explanations, by several banks.”
Vitalik Buterin Reclaims On-Chain Billionaire Status
Ethereum co-founder Vitalik Buterin has reclaimed his on-chain billionaire status after ETH surged past the $4,000 mark over the weekend. The world’s second-largest cryptocurrency last reached this level over eight months ago. Blockchain intelligence firm Arkham stated,
“BREAKING: VITALIK BUTERIN IS NOW AN ON-CHAIN BILLIONAIRE AGAIN.”
Buterin’s portfolio is valued at $1.04 billion and holds 240,042 ETH, along with stakes in several other digital assets, including Aave Ethereum (AETHWETH), WhiteRock (WHITE), Moo Deng (MOODENG), and Wrapped Ethereum (WETH).
World Liberty Financial Exploring Public Company To Hold WLFI
World Liberty Financial is exploring the creation of a publicly-traded company to hold its WLFI tokens. The company is looking to raise roughly $1.5 billion for the venture. According to reports, the deal's structure is yet to be finalized. However, World Liberty Financial has already reached out to major investors in technology and crypto. The move puts World Liberty Financial among a growing list of publicly-listed crypto treasury companies. Treasury companies have raised around $79 billion in 2025 for Bitcoin (BTC) purchases alone.
According to reports, the new treasury vehicle will be a shell company listed on the Nasdaq. World Liberty Financial’s approach mirrors Michael Saylor’s Strategy, which reinvented itself as a Bitcoin (BTC) holding company. Strategy has amassed over $72 billion in BTC and has reached a market cap of $113 billion.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has started the week on a bullish note as the flagship cryptocurrency surged past the $120,000 mark. Price action stalled on Friday when BTC fell 0.83% and slipped below $116,000 on Saturday, settling at $115,957. However, with positive macroeconomic developments, surging ETF inflows, and growing optimism about a rate cut, the price recovered on Sunday, rising nearly 3% to cross $119,000. Bullish sentiment has persisted during the ongoing session, with the price up over 2%, trading around $122,000. Analysts believe BTC could set a new all-time high if buyers maintain positive momentum.
Analysts believe a move past $120,000 was only a matter of time, and prices could reach a new all-time high if positive momentum persists. BTC’s latest rally is attributed to a bullish executive order in Washington and rising inflows into spot Bitcoin ETFs. Henrik Andersson, Chief Investment Officer at Apollo Crypto, believes a rally was long overdue following a period of consolidation.
“In our view, it was just a matter of time before it would break up. In this time, we have seen positive ETF flows, more treasury companies buying Bitcoin, and a number of positive developments coming out of the White House. Bitcoin has been stuck in a low-volatility band between $115,000 and $120,000 despite all the good news.”
Andersson credited President Trump’s executive order allowing crypto in 401(k) retirement accounts as the key driver of the rally. The executive order could see around $9 trillion in capital flow into BTC and the broader crypto industry. Michael Saylor’s announcement about an impending BTC buy has also boosted investor sentiment. Saylor hinted that Strategy is preparing to add to its BTC stash this week, stating,
“If you don’t stop buying Bitcoin, you won’t stop making Money.”
Bitcoin ETFs continued to see inflows, purchasing $773 million worth of BTC to close the previous week. Despite the flagship cryptocurrency’s impressive rally, on-chain data shows that sentiment isn’t overheated, indicating there is room for further price increases. The Fear & Greed Index is still in the “Greed” zone, at 70 out of 100.
Analysts believe BTC could reach a new all-time high this week as a bullish flag pattern activates. A bullish flag pattern often precedes a major breakout. The pattern began on July 22, bottoming out below $100,000 and peaking at an all-time high of $123,091. Investors are also bullish about a possible rate cut by the Federal Reserve in September. Odds of a rate cut soared after the US released weak nonfarm payroll data earlier this month.
BTC registered a sharp decline on Friday (August 1), dropping over 2% and settling at $113,365. Sellers retained control on Saturday as the price fell 0.67% and settled at $112,601. Despite the overwhelming selling pressure, BTC recovered on Sunday, rising 1.52% to cross $114,000 and settle at $114,307. The price continued pushing higher on Monday, registering a 0.69% increase and settling at $115,097. BTC plunged to an intraday low of $112,707 on Tuesday as selling pressure returned. It rebounded from this level to reclaim $114,000 and settled at $114,139, ultimately dropping 0.83%. The price recovered on Wednesday, rising 0.80% to reclaim $115,000 and settle at $115,047.
Source: TradingView
Bullish sentiment intensified on Thursday as BTC rallied, rising over 2% to cross $117,000 and settle at $117,483. Despite the positive sentiment, the price lost momentum on Friday, dropping nearly 1% to $116,513. Sellers retained control on Saturday as BTC fell 0.48% and settled at $115,957. Bullish sentiment returned on Sunday as BTC rallied, rising nearly 3% to reclaim $119,000 and settle at $119,046. The current session sees BTC up almost 2%, trading around $121,100 after reaching an intraday high of $122,190.
Ethereum (ETH) Price Analysis
Ethereum (ETH) raced past the $4,000 level, retaking it after eight months as bullish sentiment around the world’s second-largest cryptocurrency intensified. ETH has been on an upward trajectory since last weekend, rebounding from an intraday low of $3,372. ETH’s stellar recovery prompted BitMEX co-founder Arthur Hayes to buy back into the asset only a week after selling 2,373 ETH for $8.32 million. Hayes moved $10.5 million in USDC across several transactions, redirecting it towards purchasing ETH.
Hayes had warned of a possible drop in BTC and ETH prices last week, thanks to mounting macroeconomic pressures. The BitMEX founder cited renewed tariff fears following weak nonfarm payrolls numbers, adding that sluggish growth could push BTC and ETH towards $100,000 and $3,000, respectively.
ETH has surged nearly 24% this week, reaching an intraday high of $4,347 earlier today. According to one analyst, the price could surge to $4,000 as it breaks out of its current pattern. The analyst stated that ETH had been accumulating for months and steadily absorbing selling pressure. According to the Wyckoff theory, such a phase generally ends with a decisive breakout. Meanwhile, analysts Crypto Rover and Titan of Crypto believe ETH is breaking above the upper trendline of a multi-year symmetrical triangle and suggested it could climb to $8,000 in the coming months.
Institutional interest in ETH has also surged since July, with institutions and whales scooping up over 1,032 million ETH worth $4.7 billion through exchanges and institutional trading platforms.
“In the month since July 10, more than 1.035 million ETH ($4.167 billion) have been hoarded by multiple unknown whales/institutions through channels such as exchanges or institutional business platforms. The price of ETH also rose from $2,600 to $4,000 in this month, a 45% increase.”
ETH started the previous weekend in the red, dropping nearly 6% and settling at $3,488. Selling pressure persisted on Saturday as the price fell almost 3%, slipping below $3,400 to $3,393. ETH recovered on Sunday, rising over 3% to reclaim $3,500. Bullish sentiment intensified on Monday as the price rallied, rising over 6% to cross $3,700 and settle at $3,721. ETH was back in the red on Tuesday, dropping nearly 3% to $3,612. It rebounded on Wednesday, rising over 2% and settling at $3,685.
Source: TradingView
Bullish sentiment intensified on Thursday as ETH rose over 6% to reclaim $3,900 and settle at $3,911. The world’s second-largest cryptocurrency crossed the $4,000 mark on Friday, rising 2.52% and settling at $4,010. ETH rallied on Saturday, rising over 6% to cross $4,200 and settle at $4,262. Despite the overwhelming positive sentiment, ETH lost momentum on Sunday, registering a marginal drop and settling at $4,251. The current session sees ETH up nearly 1%, trading around $4,280.
Solana (SOL) Price Analysis
Solana (SOL) continued pushing higher over the weekend, crossing $180 as buyers maintained control. The altcoin has been steadily rising since last week as institutional interest around the asset grows. SOL is up over 12% in the past week, breaking out of key technical structures. Analysts predict a push towards $200 this week if buyers maintain control. Crypto analyst Ali Martinez identified a textbook “cup and handle” pattern and predicted a 600% increase from current levels. However, more conservative estimates predict SOL will test its all-time high of $260. Whether buyers have the strength to take the price beyond this level remains to be seen. Institutional interest in SOL has also ramped up, with Upexi, DeFi Developments Corp, SOL Strategies, and Torrent Capital acquiring over 3.5 million SOL, marking one of the strongest accumulation waves in SOL’s history.
SOL started the previous weekend with a sharp drop, falling nearly 6% on Friday and settling at $162. Selling pressure persisted on Saturday as the price fell 2.57%, slipping below $160 and settling at $158. It recovered on Sunday, rising over 2% to reclaim $160 and settle at $162. Bullish sentiment intensified on Monday as SOL rallied, rising nearly 5% to settle at $169. The price was back in bearish territory on Tuesday, falling 3% to $164. Buyers returned to the market on Wednesday as SOL rose 2.50% and settled at $168.
Source: TradingView
Bullish sentiment intensified on Thursday as SOL rallied, rising over 4% to cross $170 and settle at $175. Buyers retained control on Friday as the price rose 0.79% and settled at $176. Price action remained bullish over the weekend as SOL rose nearly 2% on Saturday and 2.72% on Sunday to reclaim $180 and settle at $182. The current session sees SOL marginally up, trading around $183 after reaching an intraday high of $186.
Toncoin (TON) Price Analysis
Toncoin (TON) faced substantial volatility last weekend as buyers and sellers struggled to exert influence. As a result, it fell to an intraday low of $3.35 on Friday (August 1), reached an intraday high of $3.71, before settling at $3.57, ultimately rising 0.79%. The price reached an intraday high of $3.72 on Saturday before losing momentum, falling 0.94% to $3.53. Buyers and sellers struggled to establish control on Sunday as volatility persisted. Buyers ultimately gained the upper hand as the price rose 0.75% to $3.56. TON was back in the red on Monday, dropping over 4% to $3.41. Bearish sentiment intensified on Tuesday as the price fell nearly 7% to $3.19.
Source: TradingView
Despite the overwhelming selling pressure, TON recovered on Wednesday, rising almost 4% and settling at $3.31. The price fell to an intraday low of $3.22 on Thursday. However, it rebounded from this level to settle at $3.36, ultimately rising 0.86%. TON registered a marginal drop on Friday but was back in positive territory on Saturday, reaching an intraday high of $3.47 before settling at $3.39, a 1.66% increase. Selling pressure returned on Sunday as the price fell 1.24% to $3.34. The current session sees TON up nearly 1%, trading around $3.37.
Injective (INJ) Price Analysis
Injective (INJ) registered a sharp drop on Friday (August 1), falling over 5% to $12.57. Sellers retained control on Saturday as the price fell 2.99% to $12.19. Despite the selling pressure, INJ recovered on Sunday, rising 6.55% to end the weekend at $12.99. Bullish sentiment persisted on Monday as INJ rose over 5% to cross $13 and settle at $13.65. The price was back in bearish territory on Tuesday, falling 5.42% to $12.91. INJ faced volatility on Wednesday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase.
Source: TradingView
Bullish sentiment intensified on Thursday as INJ rallied, rising 8.50% to cross $14 and settle at $14.04. The price registered a marginal increase on Friday and rose over 3% on Saturday to settle at $14.54. INJ was back in the red on Sunday, dropping to an intraday low of $13.87 before settling at $14.39, ultimately dropping 0.97%. The current session sees INJ down almost 1%, trading around $14.25, but not before reaching an intraday high of $14.99.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
