Tuesday, August 12, 2025

Market Trends & Price Action

- Bitcoin (BTC): The price of Bitcoin saw mixed reactions today following the release of the U.S. Consumer Price Index (CPI) data, which came in largely as expected. After a recent rally that brought it close to its all-time high of approximately $123,000, Bitcoin saw some profit-taking. Despite a recent drop, analysts maintain that BTC remains in bullish territory. Some reports indicate a technical breakdown below a key support level, while corporate buyers, such as Metaplanet, are still accumulating BTC.

- Ethereum (ETH): Ethereum rallied, breaking the $4,400 mark before experiencing some profit-taking, but remains above this key milestone.

- Broader Market: The overall crypto market saw a slight decline, with some altcoins and meme coins also experiencing pullbacks after recent gains.

Major Announcements and Developments

- The Crypto Company and Anchorage Digital Bank Partnership: The publicly traded "The Crypto Company" announced a strategic partnership with Anchorage Digital Bank, a federally chartered U.S. digital asset bank. This collaboration is aimed at implementing a secure and strategic crypto treasury initiative, highlighting a renewed focus on bridging traditional finance and decentralized finance (DeFi).

- Bybit's World Series of Trading (WSOT) 2025: The cryptocurrency exchange Bybit has announced the launch of its annual trading competition, WSOT 2025. This year's competition features a $10 million USDT prize pool and is structured to have "zero barriers to entry," with a vision of making crypto trading more inclusive.

- Bitcoin Swift (BTC3) Presale: The Stage 4 presale for Bitcoin Swift (BTC3) is gaining momentum, attracting over 2,100 investors and surpassing $580,000 in total sales. The project is offering a 106% APY for this presale stage.

- New Exchange Launch: A new crypto derivatives platform called BexBack has officially launched, offering up to 100x leverage and no-KYC onboarding. The platform is also offering a 100% deposit bonus and other incentives for new users.