Market Highlights
Altcoin correction sparks “$ALT
Season 2025” speculation
Altcoins have pulled back around 13% so far this month—echoing earlier summer dips in 2023 and 2024. Traders are now wondering if a robust altcoin rally is building momentum .
Ethereum surges ~8–9% amid strong institutional interest
Ethereum (ETH) rallied over 8% in the past 24 hours, spiking to approximately $4,600 following record inflows exceeding $1 billion into ETH ETFs .
Historic crypto liquidations: $5.01B wiped out in a day
A staggering 117,380 traders were liquidated on August 13, resulting in over $5 billion in positions closed by force—marking the single-largest liquidations event ever recorded .
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Corporate & Institutional
Metaplanet adds 518 BTC (~$61.4M) to holdings
Institutional player Metaplanet Inc. expanded its footprint by acquiring 518 new Bitcoins, raising its total holdings to 18,113 BTC .
Norway’s Sovereign Wealth Fund boosts indirect BTC holdings
Norges Bank Investment Management significantly increased its indirect exposure to Bitcoin, continuing the trend of institutional accumulation .
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Regulation & Legal
Do Kwon pleads guilty in Terraform Labs fraud case
Known as the “cryptocurrency king,” Do Kwon admitted guilt to fraud charges related to the collapse of TerraUSD/Luna. He faces up to 12 years in prison, with sentencing scheduled for December, and will forfeit over $19 million in assets .
Bullish crypto exchange listing on NYSE today
The blockchain exchange Bullish is making its debut on the New York Stock Exchange, targeting a valuation of about $4.82 billion .
GENIUS Act stablecoin regulation rooted in U.S.
While not a daily news story, the GEM of legislation: the GENIUS Act, enacted last month, now mandates stablecoins be fully backed by reserves and subjected to federal oversight .
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Broader Financial Context
Global markets buoy crypto with favorable inflation data
A "Goldilocks" inflation report in the U.S. sparked hopes of a Fed rate cut, catalyzing global market rallies—including a notable ether surge to near 4-year highs .
Blue Origin accepts crypto for space tourism
In a space-first move, Jeff Bezos’ Blue Origin now allows customers to pay with Bitcoin, Ethereum, Solana, USDT, and USDC for suborbital flights—a mashup of blockchain and rocket tech .
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Crypto Forecast
Ethereum may hit ~$8,600 if Bitcoin reaches $150k
Analysts believe once BTC nears $150,000, ETH could climb beyond $8,656, based on historical ETH/BTC patterns and macro trends .
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What It All Means
Volatility ahead: Massive liquidations usually trigger wide swings—prepare for choppy markets.
Institutional momentum: Big players like Metaplanet and Norway’s fund continue hoarding, reinforcing bullish sentiment.
Regulation shaping the future: With significant legislation (GENIUS Act) and high-profile legal rulings (Do Kwon), regulatory buzz is more than background noise.
Mainstream adoption: Blue Origin’s move shows crypto gaining footing in unconventional industries—supercool sign of mainstream acceptance.
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