Galaxy Digital CEO Michael Novogratz says institutional interest may be the 
secret sauce that sees Ether outperform Bitcoin in the next three to six 
months.

Ether will ‘knock on $4,000’ and soon outperform Bitcoin: Novogratz

Chairman of BitMine’s board of directors, Tom Lee, said the company wants to 
acquire and stake at least 5% of the total Ether supply, which would be over 6 
million Ether.

Bitmine gobbles $2.1B in ETH in 16 days amid treasury arms race

The Ghanaian central bank is set to introduce a draft regulatory framework for 
licensing digital asset companies by September. Acknowledging Crypto&#8217;s 
Enduring Presence The Ghanaian central bank has reiterated its goal to license 
digital asset companies, stating that a draft regulatory framework to oversee 
them is set to be tabled in the nation’s parliament by […]

Ghana Moves to License Crypto Firms, Citing Revenue and Oversight Goals

Christie’s, a crypto-forward auction house, has created a team dedicated to 
facilitating real estate deals that will solely use crypto.

Auction house Christie’s debuts crypto-only real estate team

Bitcoin continues to trade below its record high set earlier this month, 
hovering above the $119,000 mark. While price action over the past week has 
shown only a modest 0.3% gain, analysts suggest the market may be nearing a 
turning point. The sideways movement in price has not deterred the broader 
bullish outlook, but on-chain indicators now suggest caution may be warranted. 
One such indicator comes from CryptoQuant’s QuickTake contributor Arab Chain, 
who flagged potential overheating in Bitcoin’s current market structure. 
Related Reading: Bitcoin STH Realized Price Chart Reveals Key Defense Zones 
Amid Volatility Bitcoin Bullish Trend Persists, but Signs Point to Caution In 
a recent post, the analyst highlighted the behavior of the Bull and Bear 
Market Cycle Indicator, which now sits in a zone typically associated with 
strong bullish trends. However, its proximity to the so-called &#8220;overheated 
bull&#8221; range has raised concerns about a possible correction on the horizon. 
The indicator’s historical pattern suggests this zone often precedes a price 
cooldown, leading investors to consider profit-taking strategies. Arab Chain 
noted that despite the bullish structure, the indicator’s advance toward 
overheated territory could prompt speculators to close positions. “The 
proximity of overheated zones suggests that this is not the right time for a 
major purchase,” the analyst explained. The insight reflects the broader 
sentiment that market participants may opt for a wait-and-see approach, 
anticipating a more favorable re-entry after a correction. Additionally, while 
the 30-day to 365-day moving averages still support a continued uptrend, they 
may also signal that a short-term top is forming unless disrupted by new 
market catalysts. Retail Interest Remains Muted as Institutional Demand Grows 
Supporting this view, another CryptoQuant analyst, Burak Kesmeci, emphasized 
the role of institutional activity in driving the current cycle. Kesmeci 
explained that retail investors have reduced their exposure to Bitcoin since 
early 2023, while large investors have increased their holdings, particularly 
from early 2024 onward. “This time, the source of the Bitcoin rally is not 
retail — the big players are in the driver’s seat,” he wrote. This 
accumulation by high-volume wallets, likely linked to institutions or ETFs, 
highlights a shift from previous cycles dominated by retail behavior. Related 
Reading: Bitcoin Final Push? Wave (5) Could Deliver A Spectacular Breakout 
Kesmeci further pointed to Google Trends data showing that search interest in 
“Bitcoin” remains subdued compared to previous bull runs. The absence of 
widespread retail excitement contrasts with the intense public engagement seen 
during Bitcoin’s surge in 2021. According to Kesmeci, the quiet phase may 
indicate that retail has not yet entered the market en masse — a stage that 
historically signals the final leg of a bull cycle. “The crowd has not 
awakened yet,” he noted, adding that “smart money is currently on stage — and 
most people are still watching from the sidelines.” Featured image created 
with DALL-E, Chart from TradingView

Cryptocurrency price in INR