Stablecoin searches reached an all-time high on Google as market cap topped a record $270 billion following passage of the GENIUS Act.

Google search volume for stablecoins hit peak amid ‘parabolic’ growth

The crypto market is heating up once again as Bitcoin consolidates just below 
its all-time highs and Ethereum approaches critical resistance near the $4,000 
level. Momentum is building across major assets, and volatility is picking up 
as capital rotates into altcoins. Traders are closely watching for a breakout, 
with many expecting a decisive move in the coming days. Related Reading: TRON 
Sees $1B USDT Mint: Liquidity Wave Incoming? Adding to the intensity, 
blockchain analytics platform Arkham (ARKM) has revealed that Abraxas 
Capital—a London-based investment management firm known for its aggressive 
crypto strategies—is currently down over $100 million on its short positions. 
Arkham specializes in deanonymizing blockchain transactions and linking them 
to real-world entities, offering deep insight into the strategies and 
exposures of major players. With prices steadily climbing, the firm’s 
unrealized losses are mounting, highlighting the risks of betting against a 
rising market. This revelation has sparked conversation across the industry, 
as it not only underscores growing institutional involvement but also reveals 
the shifting dynamics between smart money and market momentum in this stage of 
the cycle. Crypto traders now watch closely to see how this unfolds. Abraxas 
Capital Faces Mounting Losses On $800M Crypto Shorts According to Arkham 
Intelligence, Abraxas Capital currently holds nearly $800 million in short 
positions across Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and HYPE on the 
Hyperliquid platform. Notably, the largest BTC and ETH shorts on Hyperliquid 
belong to Abraxas, with data revealing a current unrealized loss (uPnL) of 
approximately $106.3 million on their account. These positions reflect a high- 
stakes strategy that may serve as a hedge against spot holdings or other long- 
term crypto exposures. However, this hedge is becoming increasingly costly as 
market conditions remain bullish. Bitcoin continues to consolidate near all- 
time highs, and any breakout above the $122K–$123K range could push prices 
toward the $150K–$160K zone—close to Abraxas’ BTC liquidation level at 
$156,000. As volatility returns to the market and altcoins start gaining 
momentum, these leveraged short positions face growing risk. If BTC and ETH 
break to new highs, unrealized losses on Abraxas’ account could accelerate 
sharply. While some analysts still expect a market correction, especially 
given the failure to set new highs in recent weeks, others see the 
consolidation as a bullish continuation pattern. Related Reading: Bitcoin 
Demand Builds at $117K: Cost Basis Distribution Defines Key Support Level 
Bitcoin Consolidates Between Key Levels The 12-hour chart shows Bitcoin locked 
in a tight range between $115,724 and $122,077, with the price currently 
trading at $118,497. After a sharp rally earlier in July, BTC has entered a 
consolidation phase, forming a sideways structure with diminishing volume—a 
typical sign of market indecision. Despite the lack of breakout, the price 
remains above all major moving averages: the 50 SMA at $115,943, the 100 SMA 
at $111,170, and the 200 SMA at $106,348. This alignment supports a bullish 
trend, with buyers still in control of the broader structure. Related Reading: 
Ethereum CME Futures Open Interest Hits Record $7.85B – Is ETH Overheating? 
However, momentum has stalled. Each attempt to break above $122,000 has been 
met with resistance, while dips toward $116K have been absorbed quickly. The 
narrowing price action and falling volume suggest a breakout—or breakdown—is 
approaching. If bulls manage to clear the $122K level with strong volume, a 
new rally toward all-time highs could follow. On the flip side, a close below 
$115K would break the structure and potentially trigger a deeper correction. 
Featured image from Dall-E, chart from TradingView

Abraxas Capital Faces $100M Unrealized Loss On $800M Crypto Short Positions – Details

Palo Alto’s 180 Life Sciences is making a radical pivot, ditching biotech for 
crypto. With a $425 million private placement backed by Ethereum’s elite, the 
soon-to-be ETHZilla aims to build the largest corporate ETH treasury, blending 
DeFi yield strategies with…

180 Life Sciences bets $425m on Ethereum treasury in bid to become ETHZilla

Traders are betting big on Bitcoin as calm markets and record-low volatility 
mask the bull’s intentions.

Bitcoin price gained 50% the last time its volatility fell this low

A vote on prospective CFTC Chair Brian Quintenz was taken off the Senate 
Agriculture Committee’s agenda on Monday as the chamber heads into recess.

White House steps in to delay CFTC chair vote

Tron price continued its strong bull run this week, reaching its highest level 
since December last year. Tron (TRX) jumped to $0.3500, even as the crypto 
market pulled back. It was up by 75% from its lowest level this year.…