Posts from the 'News' Category

Bitcoin’s 73% correlation with gold forces investors to rethink crypto

Bitcoin’s 73% correlation with gold forces investors to rethink crypto

Global financial markets closed mixed heading into August 6, 2026, as a historic blue-chip rally collided with a cooldown in technology stocks. The Dow Jones Industrial Average surged 0.49 per cent to 54,349.92 and marked a third straight record close on solid corporate earnings. The tech-heavy Nasdaq Composite slipped 0.83 per cent to 26,359.67 as warnings from newly listed SpaceX and declines in semiconductor names snapped a four-day winning streak.

The benchmark S&P 500 edged down 0.17 per cent to 7,723.19 as traders pocketed profits. This divergence highlights a profound shift in investor appetite as capital rotates away from growth stocks toward stable value equities. Market participants clearly recognise the need to balance their portfolios during times of sector-specific volatility.

That profit-taking tone tells us a lot about the current mood on Wall Street. Investors clearly want to stay invested, but they also want to lock in gains. The result is a trading tape where cyclicals carry the baton while technology rests. The S&P 500 pullback looks gentle because it follows a strong run and reads as healthy digestion. The Dow drew strength from corporate profitability, and this environment explains why traders seek alternative stores of value.

When traditional growth sectors stall, market participants look for uncorrelated assets to protect their portfolios. This rotation dynamic pushes capital into the digital asset space, where specific tokens exhibit strong inflation-hedging characteristics. The capital rotation is a highly rational response to shifting macroeconomic conditions across the broader financial landscape.

Bitcoin consolidated gains, adding 0.89 per cent to US$64,547.12. The gain slightly outpaced the 0.79 per cent rise in total crypto market value, so the token showed independent strength. The most fascinating metric is the 73 per cent correlation between the leading cryptocurrency and gold. This high correlation indicates that institutional buyers now view the digital asset primarily as a macro-driven inflation hedge. The direct source of this buying pressure sits in the exchange-traded fund complex.

United States spot Bitcoin ETFs attracted US$211.49 million in net inflows on August 4, following US$170.1 million in inflows on August 3. BlackRock captured US$170.35 million of the August 4 total through its IBIT product. These figures mark a clear recovery from outflows in late July and show that large institutions have returned to absorb selling pressure. I consider this specific inflow data as the most critical fundamental indicator right now.

The leading cryptocurrency is trading above its 7-day simple moving average at US$63,699.82 and its 30-day simple moving average at US$64,118.46. The asset also remains above the 200-week simple moving average near US$63,777. This specific long-term average serves as a crucial structural floor, as it has historically marked deep accumulation phases. The 50 per cent Fibonacci retracement at US$64,201.36 now serves as the immediate line in the sand for short-term traders.

Buyers must defend this specific retracement level to maintain the current upward trajectory. The market structure remains incredibly constructive as long as the price respects these foundational moving averages. This technical setup is a coiled spring waiting for a fundamental spark to release stored energy and push valuations higher.

The immediate direction hinges on a concrete regulatory event in Washington. The United States Senate plans to vote on the CLARITY Act before its August recess. A positive legislative outcome would give institutions the regulatory framework they desire and likely accelerate the current inflow momentum. As long as the price holds above the US$64,200 support level, the path of least resistance points towards a retest of the US$66,910 swing high.

A break below US$63,562, which represents the 61.8 per cent Fibonacci level, would open the door to a deeper correction toward US$62,000. The trigger for the next major move relies heavily on this upcoming Senate vote. My bias here leans bullish because the inflow data and the technical floor both point higher, but true conviction awaits a clear legislative signal. Sustained daily ETF inflows above US$100 million would further confirm a durable recovery in institutional demand.

Ethereum tells an even stronger fundamental story, adding 2.23 per cent to US$1,908.26 and outpacing both the leading cryptocurrency and the broader market. The network staking ratio reached a record 34.4 per cent on August 4, locking approximately 40 million tokens away from public exchanges. Removing that much supply from the open market creates a massive structural tailwind for price appreciation.

Large investors are clearly buying the dip, as wallets holding between 10,000 and 100,000 tokens accumulated a net 130,000 tokens last week. This whale accumulation signals deep confidence in the underlying network economics. The combination of reduced liquid supply and aggressive activity by large buyers creates a highly supportive fundamental backdrop that sets this rally apart from previous speculative spikes. I find these on-chain metrics incredibly compelling because they reflect actual network usage rather than fleeting retail momentum.

The price action confirms this bullish on-chain intent, as the asset broke above its 30-day simple moving average at US$1,881.14 amid a 23.28 per cent surge in trading volume. Volume of that magnitude separates a genuine breakout from a mere drift higher. Narrative tailwinds also help drive this outperformance. The broader Layer 1 category posted a 0.86 per cent gain in market value as capital rotated heavily into the sector.

BlackRock also filed to implement a 1-for-3 reverse share split for its iShares Ethereum Trust ETF effective October 6. This structural change should tighten trading spreads and make the product more accessible to a wider range of traditional investors. The convergence of strong technical momentum, positive sector sentiment, and impending institutional product enhancements creates a highly favourable environment for continued upside.

Every asset class currently waits for its own specific catalyst, and this compression phase rewards patient observers who watch the legislative calendar and daily flow data. Watch the market like a hawk. Your opportunity may be around the corner.

 

Source: https://e27.co/bitcoins-73-correlation-with-gold-forces-investors-to-rethink-crypto-20260806/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

The market finally exhaled, Ethereum turned 11: The question is whether it can hold its breath again

The market finally exhaled, Ethereum turned 11: The question is whether it can hold its breath again

The crypto space climbed 1.1 per cent to US$2.21 trillion in the last 24 hours. What caught my eye first was where the demand concentrated. Layer 1 tokens led the charge, with the category gaining 1.45 per cent and outperforming the broader landscape. Ethereum and Solana dominated social media conversations, and the timing was no accident. Ethereum celebrated its 11th anniversary on the same day, and posts commemorating the mainnet launch generated a wave of bullish energy across trading communities.

This was not some manufactured hype cycle. People were genuinely reflecting on what Ethereum has built over more than a decade, and that reflective mood translated into real purchasing activity. Capital rotated into these core protocol assets in a way that signals a risk-on shift within crypto itself, not just a mindless beta play riding external momentum. I find that encouraging because it suggests participants are making deliberate allocation choices rather than simply chasing whatever ticks up first.

The supporting conditions around this advance also tell a compelling story. Bitcoin liquidations plunged 62 per cent over 24 hours to just US$22.55 million. Read that number again. When forced selling dries up to that degree, it removes a persistent ceiling that had previously capped attempts at prolonged upward movement.

Traders who might have been squeezed out of positions simply were not there to create that downward weight. The market had room to breathe, and it used that room effectively. A cleaner base with less leverage hanging over it gives any climb more legitimacy, and I believe we are watching exactly that unfold.

No honest assessment of this session can ignore the macro backdrop, because crypto did not advance in isolation. The correlation between digital assets and the S&P 500 hit 76 per cent over the past 24 hours, while the correlation with Gold reached 79 per cent. Those are high numbers, and they confirm this was a broad, macro-driven rotation rather than something unique to the blockchain world. Wall Street rebounded with force after a bruising stretch.

The Nasdaq jumped 2.8 per cent to snap a six-day losing streak. The S&P 500 climbed 1.7 per cent to 7,437.63. The Dow Jones Industrial Average surged 613.92 points, or 1.2 per cent, to close at 52,208.06. Microsoft alone skyrocketed 16 per cent after robust cloud and Azure results eased investor anxiety over artificial intelligence spending, adding a record US$450 billion in market value in one session.

Chip stocks followed suit, with Micron Technology soaring 18 per cent and Advanced Micro Devices climbing over 13 per cent. Across the Pacific, South Korea’s Kospi Index rocketed by up to 15 per cent in a historic intraday rebound powered by SK Hynix and Samsung Electronics, while Japan’s Nikkei 225 jumped over 5 per cent.

When traditional markets rally with that kind of determination, crypto benefits from the improved liquidity environment, and pretending otherwise would be intellectually dishonest. I view this correlation as a positive for now because it means digital assets are participating in a genuine global risk-on rotation rather than floating untethered from reality.

Looking ahead, the technical picture presents a clear test. The total market cap sits right at the US$2.21 trillion pivot point, and the immediate hurdle is the 23.6 per cent Fibonacci level at US$2.23 trillion, with a stronger barrier at the recent swing high of US$2.26 trillion.

If buyers can push through that zone, the advance gains real credibility. If they cannot, we likely return to the range-bound trading that has defined recent weeks. For Ethereum specifically, analysts point to US$1,975 as the key breakout level that could open a path toward US$2,300. I will be watching that threshold closely because a decisive reclaim there would confirm the anniversary-driven enthusiasm has legs beyond a single news cycle.

One event looms large over the next 24 hours and could inject significant volatility into the picture. Over US$10.5 billion in Bitcoin and Ethereum options expire on July 31. That is an enormous notional amount, and an expiry of this magnitude has historically created sharp price swings as market makers adjust their hedges and positions roll over.

The climb we witnessed could either accelerate through expiry as bullish positioning reinforces itself, or it could stall and reverse as profit-taking meets the mechanical selling that large expiries often generate. I lean toward the former given the reduced liquidation environment, but I would not bet the house on it.

My overall read is cautiously bullish, and I use the word cautiously deliberately. The ingredients for a lasting push higher are present. Narrative-driven demand in Layer 1 tokens gives the run a story and a reason to exist beyond pure speculation. The macro backdrop broadly supports risk assets.

Leverage has flushed out, leaving a healthier structure underneath. But translating one good day into a trend requires follow-through, and the US$2.23 trillion to US$2.26 trillion barrier will demand exactly that. Social mood can ignite a move, but only continued capital inflow can carry it through meaningful overhead supply.

All things considered, this session felt like the market exhaling after holding its breath for too long. The combination of Ethereum’s milestone, Solana’s continued relevance, a dramatic drop in forced selling, and a powerful global equity rebound created conditions where buyers finally had permission to step in. Whether they maintain that confidence through a massive options expiry and into next week remains the open question. But for now, the tape looks constructive, the narrative feels organic, and the macro winds are at our backs.

 

Source: https://e27.co/the-market-finally-exhaled-ethereum-turned-11-the-question-is-whether-it-can-hold-its-breath-again-20260731/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Bitcoin volume drops 6.14%, and everyone calls a bottom, I disagree

Bitcoin volume drops 6.14%, and everyone calls a bottom, I disagree

Bitcoin sits at US$66,188.15 this morning, down 0.65 per cent over the past 24 hours, and the number tells only a fraction of the story. The cryptocurrency pulled back from a one-month high near US$67,000 as WTI crude oil surged above US$85 and then climbed further toward US$94 per barrel amid an escalating US-Iran conflict now in its second week.

The broader crypto market cap slipped 0.47 per cent alongside Bitcoin, volume contracted 6.14 per cent, and Bitcoin dominance held near 59 per cent with no meaningful capital rotation into altcoins. On the surface, this looks like a gentle consolidation after a recovery rally from July lows.

But when I step back and look at the full macro picture unfolding on July 23, 2026, I struggle to share the optimism that we have found a floor. The global factors stacking up right now suggest Bitcoin has more downside to endure before any sustainable recovery takes shape.

The oil story dominates everything else at this moment. Crude prices above US$94 per barrel represent the highest levels since June, and they carry direct implications for inflation expectations and Federal Reserve policy. The US-Iran conflict shows no signs of de-escalation as it enters its second week, which means supply disruption risks remain firmly on the table. Higher energy costs feed into transport, manufacturing, and consumer prices across the board. Airlines already face margin compression.

Treasury yields hover near 2026 peaks as bond markets price in the possibility that the Fed keeps rates higher for longer. The July 28 FOMC meeting looms as the next critical catalyst, and if the statement hints at delayed rate cuts or, worse, another hike, risk assets, including Bitcoin, will absorb the blow directly. Bitcoin in this environment behaves exactly like a leveraged tech stock rather than a decoupled store of value, and that correlation works against holders when macro conditions deteriorate.

The equity backdrop reinforces my caution. Wall Street benchmarks finished lower overnight, with S&P 500 and Nasdaq futures slipping as megacap tech earnings delivered mixed signals. Tesla fell around four per cent after missing both revenue and margin estimates. Alphabet reported strong Q2 cloud growth but slid in extended trading as investors baulked at plans to increase capital expenditures. Yes, Super Micro Computer surged 20 per cent on strong AI server margin forecasts, but that single bright spot does not offset the broader disappointment.

The AI narrative that has propped up markets for over one year now faces scrutiny on whether spending translates into returns. When growth stocks wobble, Bitcoin wobbles harder. The 6.14 per cent drop in crypto trading volume suggests buyers have stepped back and lack the conviction to defend current levels. This is not the behaviour of a market that has found its bottom.

Technically, Bitcoin tests its daily pivot near US$66,103 right now. The immediate Fibonacci support sits at US$64,750, representing the 23.6 per cent retracement level. Below that, the US$63,000 to US$63,400 zone serves as the next meaningful floor. Overhead, the 100-day EMA near US$68,000 caps any rally attempt. The structure looks neutral on paper, but I read it as fragile.

A close below US$64,750 opens the trapdoor toward US$63,000, and given the macro headwinds I just described, I think that break becomes more probable with each passing day of elevated oil prices and unresolved geopolitical tension. The recovery channel from July lows remains intact for now, but channels break, and they tend to break in the direction of the prevailing macro wind.

Grayscale research head Zach Pandl offers a more constructive view, suggesting Bitcoin’s recent price low might hold if the Federal Reserve ends interest rate hikes and economic growth remains stable. He treats Bitcoin as a mature asset influenced by growth and Fed policy, rather than by the traditional four-year cycle model, which would predict a longer bear market and deeper declines.

Grayscale also points to the CLARITY Act and Strategy’s improved financial position, including a US$216 million Bitcoin sale that strengthened cash reserves and reduced forced selling risks, as structural positives. I respect that framework, but it relies on the Fed cooperating and growth holding steady. With oil above US$94 and inflation concerns resurfacing, the Fed has every reason to stay hawkish. The conditions Pandl requires for a bottom simply do not exist right now.

SkyBridge founder Anthony Scaramucci argues that Bitcoin will grind higher from here and cannot get much worse. I appreciate the sentiment, but the global picture tells a different story. Mixed Asian markets preparing for a cautious open, a steady US Dollar against the Yen and Euro that signals continued risk aversion, and geopolitical tensions with no resolution timeline all point toward sustained pressure. The AI boom cushions some of the blow in equities, but it does not immunise crypto from a liquidity squeeze if yields push higher.

Here is where I land. Bitcoin at US$66,188.15 reflects a market in pause, not a market in recovery. The 0.65 per cent daily decline understates the vulnerability beneath the surface. Oil above US$94, an active US-Iran conflict, disappointing tech earnings, yields at 2026 peaks, and an FOMC meeting five days away create a cocktail of risk that has not fully priced into crypto.

The 6.14 per cent volume decline confirms that participants are waiting on the sidelines rather than accumulating. Bitcoin dominance at 59 per cent shows no rotation, no excitement, no fresh capital entering the ecosystem. I do not think we have bottomed.

The US$64,750 level will face a serious test before July ends, and if the FOMC disappoints or oil pushes toward US$100, the US$63,000 zone becomes the realistic near-term target. Patience, not optimism, serves holders best in this environment. The macro picture has not given us permission to call a bottom, and until it does, every rally toward US$68,000 looks like a selling opportunity rather than a breakout.

 

Source: https://e27.co/bitcoin-volume-drops-6-14-and-everyone-calls-a-bottom-i-disagree-20260723/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j