Daily Crypto Roundup - 28 Aug
Today’s Market Update
Data indicates Bitcoin trades below the cost basis of 1 million and 3 million holders at $113,600 and $115,600, respectively.
With short-term investors underwater, analysts warn rallies could face heavy selling pressure as traders look to exit at breakeven.
Pentoshi noted he has no active bias on Bitcoin right now but called the current zone a "key pivot."
If BTC fails to push higher soon and slips under last week's low, he expects a sharp drop toward $105,000–$107,000, potentially weakening the broader uptrend structure.
For Ethereum, trader Ted Pillows is watching whether price can gather enough momentum to break higher between two liquidity clusters, or if a sweep into the $4,400 zone is needed before a stronger move.
Crypto Dynamics Roundup
U.S. CFTC plans to adopt Nasdaq surveillance system to expand crypto oversight
The U.S. Commodity Futures Trading Commission (CFTC) announced it will use Nasdaq’s surveillance system to enhance cryptocurrency regulation, protecting markets from fraud, abuse, and manipulation. If Congress passes pending legislation, the CFTC’s role in crypto oversight could significantly expand.
Acting Chair Caroline Pham said the system provides automated alerts and “cross-market analysis,” including full order book data for real-time analysis and decision-making to prevent abuse in traditional and crypto markets.
The CFTC is also preparing for crypto market growth through its “Crypto Sprint” initiative, focusing on crypto futures and recommendations from the President’s Digital Asset Market Working Group.
61% of Polymarket traders bet Bitcoin will fall below $100,000 by year-end
Polymarket data shows 61% of traders predict Bitcoin will drop below $100,000 by the end of 2025, down from 72% on Monday.
Analysts note that if buying demand from digital asset treasuries and institutions fails to offset large-scale selling, Bitcoin could breach the $100,000 “psychological barrier.”
While some analysts remain bullish on Bitcoin hitting $200,000 by 2026, most bet on a year-end decline below $100,000. Bitcoin’s latest price is $112,081, not falling below $100,000 since June.
Survey: 27% of UK adults open to including crypto in retirement plans
A survey by UK insurer Aviva shows 27% of British adults are open to including cryptocurrencies in personal retirement plans. Over 40% are driven by high-return prospects, and 23% would consider reallocating pension funds to crypto.
In the U.S., Bitcoin and other cryptocurrencies are allowed in 401(k) plans, managing over $9 trillion in assets.
Bank of Korea proposes central bank backing for stablecoins
At an industry-academia event on stablecoins, Bank of Korea’s Digital Currency Research Lab head Yun Sung-guan said stablecoins require central bank backing for stability.
He noted, “Stablecoins are not new currencies but tokenized existing currencies on distributed ledgers,” emphasizing the need for central bank support.
Trump Tower-based Dominari forms crypto advisory committee
According to Cryptonews, Trump Tower-based investment bank Dominari Holdings announced a new cryptocurrency advisory committee to guide its digital asset expansion.
The committee, including former BitPay executive Sonny Singh and blockchain entrepreneur Tristan Chaudhry, will advise on acquisitions and partnerships.
Over 100 crypto entities urge lawmakers to protect software developers in digital asset regulation
According to The Block, Coinbase, Paxos, Uniswap Labs, and others urged Senate committee leaders to include protections for software developers in market structure legislation. Without these, they cannot support the bill.
Stakeholders emphasized safeguarding self-custody and peer-to-peer transaction rights.
Over 100 crypto entities call for protecting software developers in U.S. crypto regulation
Per The Block, over 100 crypto entities, including Coinbase, Paxos, and Uniswap Labs, urged lawmakers to protect software developers in digital asset regulation. The DeFi Education Fund, Blockchain Association, and others sent a letter to Senate Banking and Agriculture Committees, stressing that legislation must protect self-custody and peer-to-peer transactions.
Without these, they cannot support the market structure bill.
Matrixport: Ethereum likely to fluctuate between $4,355-$4,958, technicals key to profits
Matrixport’s report says Ethereum remains in focus, stabilizing near key moving averages, reflecting early-to-mid-August dip-buying strength.
Momentum has slowed, with prices likely to oscillate between $4,355-$4,958, possibly testing the lower bound. Treasury companies’ ability to attract capital and market narratives will be key. Technical analysis remains critical to profitability.
Circle and Paxos test new crypto issuance verification technology
Stablecoin giants Circle and Paxos are testing new verification technology with fintech startup Bluprynt, founded by Georgetown Law professor Chris Brummer.
Using cryptography and blockchain, it enables entities to verify digital asset holdings, tracing tokens back to verified issuers.
Swiss crypto bank Sygnum and Ledn complete $50M Bitcoin-backed loan refinancing
Crypto lending platform Ledn and Swiss crypto bank Sygnum completed a $50M Bitcoin-backed loan refinancing, oversubscribed by 2x, with part of the loan tokenized via Sygnum’s Desygnate platform.