FBI has finally dropped investigation into Kraken&#8217;s Jesse Powell, over disputes with his non-profit.

FBI drops probe into Kraken’s founder Jesse Powell, returns seized devices

Solana (SOL) has crossed the $200 mark for the first time in months, sparking 
a frenzy of discussion across major social media platforms. Solana Social 
Dominance Has Spiked To Highest Since Early June In a new post on X, analytics 
firm Santiment has talked about how the crowd has reacted to the latest rally 
in Solana&#8217;s price. The metric of relevance here is the &#8220;Social Dominance,&#8221; 
which tells us about the degree of attention that a given coin is receiving on 
social media relative to the top 100 cryptocurrencies by market cap. The 
indicator is based on another, known as the Social Volume. The Social Volume 
measures the unique number of posts/messages/threads on these platforms that 
are making mentions of the asset. Related Reading: Ethereum To $10,000? 
Analyst Says ETH Has To Break This Level The Social Dominance takes the Social 
Volume of a coin and calculates what percentage of the combined Social Volume 
of the hundred largest assets in the sector that it makes up for. Below is the 
chart shared by Santiment that shows the trend in the indicator for Solana 
over the last few months: As displayed in the above graph, the Solana Social 
Dominance has just witnessed a sharp increase, indicating that interest in the 
asset has surged among social media users. The spike in attention toward SOL 
has come following a notable rally in its price, which has taken it past the 
$200 level for the first time since early 2025. The asset now makes up for 
8.9% of all cryptocurrency-related discussions, the highest since June 6th. 
Though while some market interest can be positive, an excess of it has 
generally proven to be a bearish sign in the past. As such, the spike in the 
Social Dominance of the coin may be something to keep an eye on, as FOMO 
developing among the crowd could potentially impede the price run. In the same 
chart, the analytics firm has also attached the data for another Solana 
indicator: Development Activity. This metric measures, as its name suggests, 
the total amount of work that the developers of the project are putting in on 
its public GitHub repositories. Related Reading: Bitcoin Correlation To 
Altcoins Is Collapsing: A Warning Sign? The indicator gauges development work 
in terms of &#8216;events,&#8217; where an event is any action made by the developer on 
the repository, like the push of a commit or the creation of a fork. From the 
graph, it&#8217;s visible that the Development Activity of Solana has witnessed a 
rise recently and has climbed back above 63 events per day. This is the 
highest value for the metric since May 22nd. Thus, it would appear that the 
developers of the project are ramping up their effort alongside the price 
surge. SOL Price At the time of writing, Solana is floating around $203, up 
more than 27% in the last seven days. Featured image from Dall-E, 
Santiment.net, chart form TradingView.com

Solana Becomes The Talk Of Social Media As Price Hits $200

Bitcoin price is eyeing a fresh increase above the $118,000 resistance. BTC 
must clear the $120,000 resistance zone to continue higher in the near term. 
Bitcoin started a fresh increase after it cleared the $118,000 zone. The price 
is trading above $118,500 and the 100 hourly Simple moving average. There was 
a break above a bearish trend line with resistance at $118,000 on the hourly 
chart of the BTC/USD pair (data feed from Kraken). The pair might start 
another increase if it clears the $120,000 resistance zone. Bitcoin Price Aims 
Higher Bitcoin price started a correction phase below the $118,500 support 
zone. BTC dipped below the $118,000 level and tested the $116,200 zone. A low 
was formed at $116,260 and the price started another increase. There was a 
decent move above the $118,000 and $118,500 levels. Besides, there was a break 
above a bearish trend line with resistance at $118,000 on the hourly chart of 
the BTC/USD pair. However, the pair struggled to surpass the $120,000 
resistance zone. A high was formed near $120,237 and the price is now 
consolidating gains near the 23.6% Fib retracement level of the upward move 
from the $116,260 swing low to the $120,237 high. Bitcoin is now trading above 
$118,500 and the 100 hourly Simple moving average. Immediate resistance on the 
upside is near the $119,800 level. The first key resistance is near the 
$120,200 level. The next resistance could be $121,000. A close above the 
$121,000 resistance might send the price further higher. In the stated case, 
the price could rise and test the $122,500 resistance level. Any more gains 
might send the price toward the $122,500 level. The main target could be 
$123,200. Another Drop In BTC? If Bitcoin fails to rise above the $120,200 
resistance zone, it could start another decline. Immediate support is near the 
$119,200 level. The first major support is near the $118,500 level. The next 
support is now near the $118,200 zone. Any more losses might send the price 
toward the $116,500 support in the near term. The main support sits at 
$115,000, below which BTC might continue to move down. Technical indicators: 
Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI 
(Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. 
Major Support Levels – $119,200, followed by $118,500. Major Resistance Levels 
– $120,200 and $121,000.

Bitcoin Price Sets Up for Another Move—Can the Bulls Seal the Deal?

The UK will prohibit its public sector, such as its health service and local 
councils, from paying ransomware in a bid to “smash the cyber criminal 
business model.”

UK to ban public sector from making ransomware payments

The Internal Revenue Service’s new Form 1099-DA, while designed to streamline 
tax reporting for cryptocurrency users, may inadvertently trigger audits due 
to incomplete cost basis data provided by exchanges, an expert warns. The 
&#8216;Phantom Gain&#8217; Trap The Internal Revenue Service (IRS)&#8217;s new Form 1099-DA, 
though well-intentioned, could unfairly target many cryptocurrency users for 
audits due […]

New IRS Crypto Form Could Trigger ‘Phantom Gains’ and Unwanted Audits, Expert Warns

In a fresh post to X on 21 July, long-time cryptoc sceptic and gold advocate 
Peter Schiff urged holders of Ethereum (ETH) to exit while prices hover “near 
the upper end of its trading range.” “If you own any, this is a great time to 
sell,” he wrote, adding that—painful though it was for him to admit—flipping 
the proceeds into Bitcoin “is a better trade than holding Ether.” Sell 
Ethereum, Buy Bitcoin Schiff doubled down when quizzed by followers. “It’s not 
[better] as far as I’m concerned. I’m just looking at the charts,” he replied, 
arguing that Ethereum’s narrative faces “more acknowledged competition” than 
Bitcoin’s digital-gold storyline. At pixel time Ether changes hands at roughly 
$3,650 while Bitcoin trades just above $118,000, putting the ETH/BTC ratio 
near 0.031—toward the lower half of its five-year range. Related Reading: 
Institutional Demand Surges As Ethereum Sets New Inflow Records Schiff 
contends the ratio’s weakness reflects a structural bear market for Ether 
against Bitcoin. “I think Ether is in a bear market in terms of Bitcoin, and I 
think it just had a bear-market rally,” he told one user who pressed him for 
fundamentals, concluding: “So if you want to own crypto, selling Ether to buy 
Bitcoin makes sense.” Not everyone was persuaded. Veteran cycle watcher 
TechDev responded drily, “Thank you for your service sir,” reposting Schiff’s 
February “party is over” call that preceded Bitcoin’s spring rally. A Familiar 
Refrain—And A familiar Outcome Schiff’s latest chart-based admonition follows 
a string of bearish milestones that have mis-timed every major leg of 
Bitcoin’s secular advance. On 25 February he declared, “Turn out the lights, 
the #Bitcoin 100K party is over… the bear market is just getting started.” 
Less than five months later, Bitcoin still hovers comfortably above $118,000. 
Related Reading: Ethereum Open Interest Explodes To $28 Billion—Altcoin 
Rotation Begins: QCP Only a month after that February warning he predicted a 
full-blown crash to $10,000 once gold reaches $5,000, reasoning that Bitcoin 
would capitulate “95 % from its 2021 peak.” In late 2023 he ran a Twitter poll 
and concluded—contrary to the vote—that Bitcoin would “crash before the ETF 
launch.” Spot ETFs were approved in January 2024; Bitcoin never looked back. 
Back in November 2018, with Bitcoin trading at $3,800, he insisted it could 
“easily drop another 80 % from here, and at $750 it would still be expensive.” 
The rest is history. Now, Schiff argues that Ethereum’s smart-contract 
dominance is eroding as Layer-1 competitors gain mind-share and as regulators 
inch toward approving other altcoin spot ETFs. Whether the latest call joins 
the growing archive of ill-timed bearishness will turn on the ETH/BTC cross. 
If altcoin rotation doesn’t continue, Schiff may finally chalk up a win; if 
the ratio rolls over, his chart-reading case for a relative trade into Bitcoin 
will be vindicated even as his absolute bear thesis remains unproven. For now, 
the market is reserving judgment. At press time, Ether traded at $3,677. 
Featured image created with DALL.E, chart from TradingView.com