Here's the latest crypto market update:
# Market Trends
- Bitcoin ($BTC ) has dropped below 87,000 USDT, with a 3.64% decrease in 24 hours ¹.
- Ethereum ($ETH ) is retesting its key support level at around $2,125; a close below would extend the correction ².
- Solana ($SOL ) price stabilizes and trades around $137.8, after falling nearly 20% this week ².
# Regulatory Updates
- The White House Crypto Summit concluded without new announcements, but U.S. President Donald Trump aims to advance stablecoin legislation before the August recess ¹.
- U.S. Treasury Secretary Scott Bessent pledged to end the "regulatory weaponization" against digital assets, signaling a shift toward pro-crypto policies ¹.
# Other News
- A dormant Bitcoin wallet linked to the dark web market Nucleus transferred $77.5 million worth of Bitcoin to three new addresses ¹.
- A large BTC trader ("whale") opened a 20x leveraged short position, betting on a market downturn, and has netted a $3.15 million profit so far ¹.
