Market Movers & Price Drivers
Analyst momentum continues: Following yesterday’s U.S. inflation data, $BTC
Bitcoin is hovering around $119–120K, buoyed by hopes of a potential Federal Reserve rate cut in September .
ETF inflows remain strong: A recent executive order authorizing retirement accounts (e.g., 401(k)/IRA) to include cryptocurrencies fueled around $572 million in crypto inflows, with approximately $260 million going into Bitcoin .
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Institutional & Corporate Highlights
Bullish Exchange IPO: Bullish, the exchange behind CoinDesk, officially launched on the NYSE under the ticker BLSH, bringing in about $5.6 billion valuation backed by big names like Peter Thiel and Galaxy Digital .
Tephra Digital’s strong July: This crypto hedge fund delivered a 9% return in July and is now up about 23% YTD, riding the broader $700 billion surge in crypto assets fueled in part by institutional ETF investment .
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Technical & Strategic Outlook
Post-halving trends confirm August rally: Analysts point out that August—especially in years following a halving—historically brings double-digit $BTC gains. Predictions now range between $130K to $134K if support holds .
Volatility patterns observed: Technical models suggest a potential short-term dip to the $105K area, which could serve as a springboard for a new rally .
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Security & Risk Developments
$7 million exploit on Odin.fun: A Bitcoin meme-coin platform, Odin.fun, lost 58.2 BTC (~$7M) due to a liquidity manipulation exploit—operations have been halted and legal action is underway .
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Summary Snapshot
Theme Takeaway
Macro & Fed Eased inflation data → market optimism
Institutional inflows $260M into BTC from retirement funds
Corporate moves Bullish IPO ($5.6B); crypto hedge funds gaining
Technical outlook Bullish August; watch for dip/retest
Security risks Exploit highlights ongoing platform concerns
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