Category: Business

This week brings a heavy mix of inflation, consumer and energy data that could influence risk assets and crypto prices. Bitcoin is approaching a key resistance zone, while $XRP and Ethereum analysts are watching different technical setups. Here’s what could matter most for the market.

Crypto This Week

The week is packed with economic releases, with inflation data likely to be the biggest catalyst:

Key Events This Week:

1. July Existing Home Sales data – Tuesday

2. OPEC Monthly Report – Wednesday

3. July CPI Inflation data – Wednesday

4. July PPI Inflation data – Thursday

5. July Retail Sales data – Friday

6. August MI Consumer Sentiment data – Friday

It’s a big week…

— The Kobeissi Letter (@KobeissiLetter) August 9, 2026

• July Existing Home Sales — Tuesday: Strong figures could show economic resilience but weaken rate-cut bets. Softer results may lift expectations for easier policy and support risk assets.
• OPEC Monthly Report — Wednesday: Production and demand forecasts will shape oil-market expectations. Higher crude prices could fuel inflation, while weaker demand may ease price pressures.
• July CPI Inflation — Wednesday: The week’s biggest catalyst. Cooler inflation could boost Bitcoin and other risk assets, while a hotter reading may trigger selling.
• July PPI Inflation — Thursday: Shows price pressure at the producer level. An unexpected jump could revive inflation fears and keep borrowing costs elevated.
• July Retail Sales — Friday: Strong spending would signal a resilient consumer but could limit expectations for aggressive cuts. Weak figures may raise slowdown fears while strengthening easing bets.
• August Michigan Consumer Sentiment — Friday: Offers a snapshot of household confidence and inflation expectations. A sharp decline could point to weaker economic activity ahead.

The CPI and PPI figures will be especially important because they could influence expectations around interest rates and broader risk appetite.

Bitcoin Position Right Now: Will it hit $68K?

Bitcoin has pushed toward $64,000, with the $68,000-$70,000 area now seen as the next major zone to watch.

One analyst pointed out that the current move may not be the start of a fresh bull run. Instead, he expects Bitcoin could make one more push toward $69,000 before a deeper correction begins. His projected path is $64K, $69K, $61K, followed by potential moves toward $57K, $53K, $49K and eventually $44K.

🚨 THIS SETUP IS GETTING UGLY

$BTC has already pushed into $64K, with $68K-$70K FVG now in sight

But this move doesn’t look like start of a new bull run$BTC looks like it’s building one final squeeze before real flush begins

My roadmap for next 2-3 months:

$64K → $69K →… https://t.co/JbIoRYArIQ pic.twitter.com/DBHlLooKsb

— Klarck (@0xklarck) August 9, 2026

Key Levels to Watch

• Current level: $64,000
• Immediate upside target: $69,000
• First support: $61,000
• Major downside levels: $57,000 → $53,000 → $49,000 → $44,000
• Accumulation zone: $44,000–$53,000
• Recovery target: $55,000
• Bullish confirmation: Sustained move above $69,000
• Bearish signal: Rejection near $69,000 and break below $61,000

He further expects around 60 days of accumulation before a possible recovery toward $55,000. He also points to previous calls involving Bitcoin’s $126K cycle top in 2025, the $96K, $60K and $83K, $59K sell-offs, and the latest roughly 10% S&P 500 correction.

Will $XRP Revive?

Some $XRP analysts Julia Liberte and Dandelion said the token is following a structure similar to its 2017 cycle. Their roadmap starts with a move from $1.10 toward $0.97, followed by $1.80, then $2.70-$3.20. If the pattern continues, they see a possible move toward $6.50 and eventually $13.

$XRP is repeating the exact same trendline from 2017.

History is repeating itself.

Right before the 70,000% explosion.

The path to the next bull run:

Scenario 1: (AUG-SEP)
$1.10 → $0.97 → $1.80

Scenario 2: (NOV-DEC)
$1.80 → $2.70 → $3.20

Scenario 3: (JAN-FEB)… pic.twitter.com/e4JhRDAykp

— Julia (@Julia_Liberte) August 9, 2026

Hence another successful support retest could trigger a larger expansion, although these remain technical projections rather than guaranteed price targets.

Ethereum Gets Two Monthly Buy Signs

Ethereum is also attracting attention after On-chain analyst Ali Martinez revealed two TD Sequential buy Indicators on its monthly chart, a black 9 and an S13.

He pointed to previous Cues, including a 236% rise after the September 2022 buy trigger and a 258% gain following the April 2025. If the latest signs are validated, he sees Ethereum potentially moving toward $3,000.

Other Events

Markets are also waiting for the Iran deal that the US said was coming last week. The agreement has still not been announced, leaving geopolitics as another factor traders will monitor alongside this week’s economic data.

Senate Majority Leader John Thune introduced a cloture motion for the Clarity Act, which includes comprehensive regulations for the cryptocurrency market. This move paves the way for a critical procedural vote on the bill after Congress members return from their August recess.

According to an agreement reached in the Senate, the cloture vote on the motion to proceed with the consideration of the Clarity Act is scheduled for Tuesday, September 15.

Passing the Cloture amendment will not automatically enact the Clarity Act. The vote will only limit the debate on the amendment to proceed with the bill’s consideration, allowing the legislation to move forward on the Senate’s agenda.

The motion requires the support of 60 senators to pass. Given that Republicans hold 53 seats in the Senate, even with the support of all Republican senators, at least 7 Democrats or independent senators would still need to vote for it.

The Clarity Act aims to clarify the regulatory framework for the cryptocurrency market in the US and more clearly define which institutions will oversee digital assets. However, negotiations are ongoing in the Senate regarding the final version of the bill.

Politicians are reportedly trying to resolve their disagreements, particularly regarding ethical provisions, rules on combating illicit financing, and how to incorporate regulations drafted by the Senate Agriculture Committee into the bill.

The introduction of the Cloture motion is seen as a significant procedural step indicating that the Republican leadership plans to make the Clarity Act a top priority item on the Senate’s agenda in September.

*This is not investment advice.

CoinGecko, a cryptocurrency data and tracking platform, has announced the cryptocurrencies that have attracted the most investor interest in the last few hours. Based on search data from the last three hours on the platform, Tutorial ($TUT) topped the list of trending cryptocurrencies.

According to CoinGecko data, Tutorial ($TUT) attracted attention by rising 325.8% in the last 24 hours. Pudgy Penguins ($PENGU) and IoTeX ($IOTX) followed closely behind, with IoTeX gaining 49.3% and Pudgy Penguins 1.7% in the same period.

Here is a list of the most searched cryptocurrencies and their total market capitalization on CoinGecko in the last 3 hours:

1. Tutorial ($TUT): $156.94 million
2. Pudgy Penguins ($PENGU): $396.68 million
3. IoTeX ($IOTX): $31.10 million
4. Pump.fun (PUMP): $982.45 million
5. StonkBroker (STONKBROKER): $50.04 million
6. Pi Network (PI): $986.75 million
7. Cash Cat (CASHCAT): $109.89 million
8. Pons (PONS): $21.86 million
9. Ondo (ONDO): $1.69 billion
10. Ethereum (ETH): $231.29 billion
11. SkyAI (SKYAI): $128.53 million
12. Cosmos Hub (ATOM): $721.65 million
13. Zcash (ZEC): $8.59 billion
14. Canton (CC): $3.90 billion
15. Zama (ZAMA): $102.04 million

*This is not investment advice.

Grayscale Research Director Zach Pandl said that the CLARITY Act, which aims to create a comprehensive regulatory framework for the cryptocurrency market in the US, now seems unlikely to pass Congress this year. Pandl noted that the Senate’s busy schedule and election year politics make it difficult to reach a bipartisan agreement on the bill.

According to Pandl, the failure of the Clarity Act to become law will not directly impact the demand for Bitcoin as a store of value, the functioning of major blockchains, or the growth in stablecoin payments in the short term. The cryptocurrency sector has been developing in the US for nearly 17 years without comprehensive market structure legislation.

However, a Grayscale executive noted that the lack of comprehensive regulation could slow new investment activity and capital formation in the U.S. The CLARITY Act aimed to open new avenues for capital formation through blockchain technology, support the development of tokenized securities markets, and create a comprehensive oversight framework for digital asset intermediaries. The bill also included various protections for consumers, investors, and software developers.

Pandl believes that federal regulators will continue to fill regulatory gaps in the crypto sector even without new legislation. In particular, the SEC and other agencies are expected to develop new rules and regulations in various areas, especially tokenized securities, in the coming months.

According to Grayscale, significant progress has been made in favor of the sector in the regulatory approach to institutional custody services, banking access, staking, and crypto exchange investment products under the current administration. However, Pandl warned that in the absence of comprehensive market structure legislation, a larger portion of new investments and developer activity could shift to countries outside the US.

*This is not investment advice.

The delay of the US CLARITY Act announced at the end of the business week harmed several altcoins, but $XRP’s price dipped the most among the larger caps.

$BTC and ETH managed to hold support on Friday, remaining above or at key milestones at $64,000 and $1,900. $XRP, on the other hand, slipped to just over $1. That’s why we decided to ask ChatGPT for its analysis of the matter and whether Ripple’s token will continue to face adverse consequences.

Why Such a Reaction, $XRP?

The answer to whether the token will inevitably crash below $1, according to the popular AI solution, was “not necessarily, but the risk has increased.” It explained that the cross-border altcoin has become uniquely tied to US regulatory developments, dating back to the beginning of the lawsuit against the SEC nearly six years ago.

Unlike bitcoin, which has institutional and ETF demand, or Ethereum, which benefits from tokenization, stablecoins, and treasury accumulation from companies like Bitmine, much of $XRP’s bullish narrative over the past few years has centered on regulatory clarity.

Passage of the CLARITY Act would likely cement its commodity status in federal law and provide greater certainty for banks, institutions, and ETF issuers. In contrast, delaying the process postpones those potential inflows rather than eliminating them.

OpenAI’s solution pointed out that $XRP had historically rallied aggressively on regulatory optimism earlier in the cycle, making it more vulnerable to disappointment when the catalyst faded. Certain analysts agree with the thesis that $XRP could indeed slip below $1 soon, but they believe this would open the door for a more profound rally.

Is Sub-$1 Inevitable?

Again, ChatGPT doesn’t believe this is the most probable scenario; instead, it thinks $XRP has several catalysts that could prevent such a move. Perhaps the most significant support comes from the company behind the token and its substantial expansion experienced over the past few years, which included major partnerships, acquisitions, and regulatory wins, albeit in other jurisdictions.

The AI also noted that markets tend to overreact to legislative delays – after all, it doesn’t necessarily mean the bill will fail. If investors begin pricing in eventual approval rather than focusing solely on timing, Ripple’s token could stabilize before Washington returns in September.

Nevertheless, it didn’t completely rule out a dip below $1.00, especially if the broader crypto sentiment deteriorates and $BTC loses key support. In addition, macroeconomic news or war escalation can trigger another leg down, and both of those factors are outside the scope of the regulatory delay.

$OKB showed renewed bullish momentum as network activity and trading volume strengthened its breakout setup.

The token traded near $93.17 after gaining 5.9% in 24 hours. Daily trading volume surged 63% to $45.14 million.

The volume increase suggested stronger market participation as $OKB approached a major resistance level.

Network activity also supported the bullish outlook. Active Addresses climbed to 103, their highest level this month. That signaled increased on-chain participation alongside $OKB’s latest price move.

Can $OKB break above $100?

On the daily chart, $OKB traded within a bullish flag after recovering from its June lows. The token approached $100, a psychological level that aligned with the pattern’s upper resistance.

A decisive breakout above $100 could confirm the broader recovery’s continuation.

$OKB also traded above its 20-day, 50-day, 100-day, and 200-day EMAs. Holding above those Moving Averages kept the medium-term structure tilted toward the bulls.

However, Stochastic RSI rose toward elevated levels and stood near 66.67. The reading showed that buyers had control. It also raised the chance of short-term consolidation.

Is volume supporting $OKB’s rally?

$OKB’s latest move came with a sharp increase in volatility.

The Daily Volatility metric climbed to roughly 1.9%, its highest level since late June.

Historically, higher volatility coincided with larger $OKB price swings. That made the $100 test particularly important.

Meanwhile, daily trading volume reached $45.14 million after a 63% increase. A sustained volume increase during a breakout would strengthen the case that buyers absorbed available selling pressure.

A daily close above $100 could confirm the bullish flag breakout. Rejection could send $OKB toward its EMA support cluster near $85 to $87.

---

Final Summary

• $OKB Active Addresses reached 103, their highest reading this month, supporting the token’s bullish setup.
• A daily close above $100 could confirm an $OKB bullish flag breakout, while $85 to $87 remains key support.

Trikon, a renowned Web3 infrastructure entity, has partnered with IBVM, the earliest Bitcoin-based zero-knowledge layer 2 ecosystem. The partnership is set to combine AI-led consumer experience infrastructure and blockchain-powered security. As per Trikon’s official announcement, the development attempts to merge a modular blockchain framework with crypto capital within an inclusive Web3 tech framework. Additionally, Trikon will pay significant attention to its AI-driven operating network to deliver chainless, agent-led, and gasless interactions for dApps.

We’re excited to partner with @IBVMCHAIN, Bitcoin’s native ZK Layer 2, bringing the most battle-tested capital in crypto into the modular Web3 stack.

Trikon’s AI-native OS handles the UX layer chainless, gasless, agent-driven. IBVM handles the trust layer: ZK-verified,… pic.twitter.com/x29k2GKmTf

— Trikon (@0xTrikon) August 8, 2026

Trikon and IBVM Partnership Combines Bitcoin Security with AI-Driven UX

In partnership with IBVM, Trikon is poised to assist builders in developing streamlined dApps without any compromise on the security properties linked with Bitcoin. In this respect, the AI-native OS of Trikon focuses on streamlining the way consumers interact with diverse blockchain apps by decreasing technical complications that are normally linked to wallets, individual networks, and gas fees. Additionally, the platform’s agent-powered architecture is set to allow automated interactions, letting AI-native agents handle specific blockchain activities on behalf of consumers.

Apart from that, IBVM will advance this client-facing infrastructure by serving as a verification and security layer. In the form of a Bitcoin-native ZK L2, the platform leverages zero-knowledge technology for the verification of computations and transfers while using Bitcoin as the security foundation thereof. The approach attempts to support more scalability while also retaining a complete link to the established security architecture of Bitcoin.

Simultaneously, the joint effort underscores the wider shift toward modular chain architectures, where diverse protocols and ecosystems specialize in particular functions instead of attempting to deliver each component within one chain. In line with the proposed framework, Trikon can focus on AI-led interactions and application usability, whereas IBVM addresses verification, security, and settlement requirements.

Driving Web3 Trust and Usability for Scalable Web3 Infrastructure

According to Trikon, the collaboration also signifies the rising role played by AI agents within the Web3 infrastructure. Amid the growing complexity of dApps, AI-led interfaces could increase the accessibility of blockchain functionality by abstracting technical procedures from users. Overall, by merging a Bitcoin-secured ZK model with the AI-led interaction layer, both entities endeavour to deal with trust and usability amid scaling dApps.

Cardano [$ADA] is among the top blockchains across the globe and recently hit a new peak in the Nakamoto coefficient of 16. This put Cardano as one of the most decentralized chains as prices slowly rebound.

The altcoin has surged by more than 19% this week with daily gains averaging more than 6%. These gains resulted from Cardano transitioning to the Dijkstra development era. Can the price keep surging?

Dijkstra launch fuels Cardano’s weekly gains

According to CoinMarketCap, Cardano came a distant second among the largest weekly gainers. SKYAI recorded 261% with MemeCore [M], Humanity Protocol [H], and Pieverse [PIEVERSE] wrapping up the top 5 list for this week.

Cardano’s transition to the Dijkstra development era drove these weekly gains. This was a newly approved roadmap that made it the first chain to fund core development directly from its treasury.

Additionally, the ecosystem was expanding to other blockchains. For instance, the chain connected with Injective [$INJ] via The Inter-Blockchain Communication Protocol (IBC), which was on testnet. Both $INJ and $ADA will be usable across the two ecosystems.

As a result, the daily trading volume has also jumped by more than 78%, recording about $747 million. It jumped from $412.8 million to A 7-day sum of $3.50 billion.

Furthermore, the Total Value Locked (TVL) rose by around 3%, reaching $88 million. The chain’s weekly DEX volume also increased by 17%, reaching $13 million.

Moreover, such developments prompted the big players to position themselves. According to Santiment data, whales have accumulated over 240 million $ADA in the past few days.

Can $ADA stay above $0.20?

Meanwhile, Cardano’s price broke above the $0.20 resistance level, but there was some lag at this zone. The altcoin price has been ranging between $0.14 and $0.20 since July, aligning with whale positioning. The range followed a 41% sharp drop from $0.24 to $0.14.

In support of this trend was the Bull/Bear Power indicator, which turned green. The CVD showed that traders on Binance’s spot market bought more than 40 million $ADA tokens.

With the token clearing the $0.20 resistance that capped every recovery attempt this year, it exposed $0.24 and $0.30 as the next target areas. But failing to hold above $0.20, the altcoin may revert back to the range.

Therefore, Cardano’s native $ADA may rally higher if the chain developments continue.

Final Summary

• Cardano surged by more than 19% this week after transitioning to the Dijkstra era, funding its development directly from its community treasury.
• $ADA price broke above a resistance level at $0.20, which has capped every recovery attempt this year.

The scale of the Coldcard hardware wallet exploit is becoming sharply clear. Galaxy Research has now confirmed with high confidence that at least 1,719 $BTC have been stolen across multiple user accounts, valuing the compromise at roughly $111 million at recent prices. But that number may not be the ceiling. Total losses, according to the research team’s latest assessment cited in the original report, are likely to surpass $130 million once all outstanding cases are verified.

More than 25 distinct attack patterns have been identified, and investigators now believe that multiple threat actors are actively exploiting the vulnerability. The number of victims is piling up; Galaxy confirmed it has received reports from over 250 individuals. If every case is ultimately confirmed, the total haul could climb past 2,300 $BTC. For now, the only hardware known to be affected are Coldcard Mk3, Mk4, Mk5, and the Q model. There is no evidence that the bug has spread to other signing devices or wallets, and Galaxy has not indicated that any affiliated software or firmware outside of Coldcard’s ecosystem is compromised.

A self-custody nightmare

This incident hits at the very foundation of self-custody culture. Coldcard is widely considered one of the most secure Bitcoin hardware wallets, specifically designed for air-gapped, paranoid-grade storage. The fact that it has been cracked at this scale, with what appears to be a long-running exploitation window, will rattle confidence among users who have staked their entire net worth on it. It also complicates the already tense legislative conversation around self-custody protections in Washington. Just days before a crucial Senate vote on landmark crypto legislation—discussed in our coverage of how banks are attempting to reshape the bill—an exploit of this magnitude gives opponents of liberal self-custody rules a powerful new data point.

Hardware wallets have been sold as the ultimate defense against hacks, yet they remain vulnerable to supply chain attacks, firmware tampering, and physical side-channel exploits. In this case, the exact entry vector has not been publicly detailed by Coinkite or Galaxy, but the existence of so many distinct patterns suggests it was not a single bug. A misconfigured random number generator, a compromised supply chain component, or a flaw in the device’s communication protocols could all be at play. For users who lost funds, there is the added bitterness that Bitcoin’s immutability makes fund recovery virtually impossible.

What’s next for victims and the market

With over 250 victims already identified, legal and reputational consequences are mounting for Coinkite, the manufacturer of Coldcard. The firm has yet to release a detailed technical postmortem, and the market is waiting to see whether a patch is even feasible for existing hardware or if replacements are necessary. So far, only Coldcard’s own line appears infected, but the discovery of multiple independent attackers suggests the vulnerability may have been widely known in certain circles before it became public. That raises the uncomfortable possibility that the exploit was first discovered and traded privately, only becoming a headline after losses spiraled.

From an institutional perspective, this event will push funds and large holders toward scrutinizing their device choices more intensely. Multi-sig setups and custodian-based cold storage solutions may see renewed interest. The insurance question also re-emerges: most self-custody users carry zero coverage, while regulated custodians bundle insurance into their service. The $130 million-plus figure, though small compared to total Bitcoin market cap, is large enough to attract regulatory attention at a time when lawmakers are weighing how to classify and supervise wallet providers.

Uncertainty looms

Several unanswered questions make this a story that will develop further. Galaxy’s report does not clarify how the attackers managed to exfiltrate private keys or sign transactions without physical access to the devices. It is possible that the vulnerability allowed an attacker who gained temporary access—perhaps during shipping or through a compromised reseller—to later drain funds without ongoing access. The fact that over 25 patterns exist indicates that multiple techniques were employed, and it cannot be ruled out that some victims unknowingly used malicious firmware updates from unofficial sources.

The community is left to weigh whether the Coldcard brand can recover its reputation. Hardware wallet security is as much about trust as it is about cryptographic design. Once that trust is broken at a scale of thousands of coins, the road back is long. Meanwhile, other manufacturers will likely use this event to market their own devices as superior, and the broader lesson for the industry is clear: self-custody demands constant vigilance, and no single device should be treated as a magic shield.