PENGU’s rally has reversed with a 17% weekly loss, as on-chain data points to one insider-linked wallet offloading over $17 million worth of tokens to exchanges since July. The Pudgy Penguins (PENGU) token has declined sharply in recent days, falling…

PENGU continues to plunge as insider wallet moves another $5.6M to exchanges

Strategy Incorporated, formerly operating as Microstrategy, has filed for a 
$4.2 billion offering of its Variable Rate Series A Perpetual Stretch 
Preferred Stock (STRC) while reporting record second-quarter net income of $10 
billion, driven by unrealized gains on its massive bitcoin holdings. Strategy 
Announces $4.2B STRC Offering and Record $10B Q2 Net Income Strategy filed […]

Record Quarter: Strategy Earns $10B, Files $4.2B Offering to Buy More Bitcoin

As Bitcoin (BTC) continues to consolidate slightly below the $120,000 level, 
the dominance of new investors is steadily rising. However, on-chain data 
shows that BTC is still far from overheating, suggesting the premier 
cryptocurrency may have more room to run before a significant correction sets 
in. Bitcoin May Still Have Some Room To Run According to a CryptoQuant 
Quicktake post by contributor AxelAdlerJr, new investor dominance in Bitcoin 
is gradually increasing &#8211; currently hovering around 30%, which is only halfway 
to the historical &#8220;overheated&#8221; threshold. Related Reading: Bitcoin Overheating 
Signals Easing – Is A Second-Half Rally Ahead? The analyst shared the 
following chart, which highlights two past instances &#8211; marked in orange &#8211; when 
new investor dominance reached overheated levels and coincided with BTC local 
price tops. The first instance occurred in March 2024 when the metric hit 64%, 
and the second in December 2024 when it peaked at 72%. In both cases, BTC 
experienced a significant pullback, leading to the formation of local bottoms. 
Notably, as the influx of new liquidity dried up during these phases, long- 
term holders began actively taking profits. This added further pressure on 
BTC’s price. Currently, while new investor dominance is trending higher, it 
remains well below the euphoria zone &#8211; typically between 60% and 70% &#8211; 
suggesting more upside potential in BTC’s bullish momentum before exhaustion. 
Meanwhile, older holders continue to sell moderately. The chart indicates a 
coefficient of 0.3, showing that the supply of three-year-old BTC is still 
absorbing fresh demand without sharp disruptions. From a long-term 
perspective, the market remains balanced, and the risk of large-scale 
capitulation from veteran wallets appears low. AxelAdlerJr concluded: If the 
indicator&#8217;s growth accelerates and approaches the historical corridor of 
0.6-0.7, one should expect intensified profit-taking and, consequently, a 
correction. For now, the supply/demand structure remains in a healthy late 
bull cycle phase, when new money is coming in but old players have not yet 
transitioned to mass selling. Is BTC Price About To Stall? While the data 
above suggests that Bitcoin still has room to grow, other indicators point to 
waning momentum. One such signal is the recent decline in the Bitcoin Coinbase 
Premium Gap, which has broken its long streak of positive values. Related 
Reading: Bitcoin’s Rally Might Be Running on Fumes, Analyst Warns of August 
Turning Point Fellow CryptoQuant analyst ArabChain confirmed this development 
in their analysis. They noted that US investor enthusiasm for BTC appears to 
be cooling at current price levels. That said, positive macroeconomic factors 
&#8211; such as BTC’s historical correlation with global M2 money supply expansion &#8211; 
could still lead the digital asset to new all-time highs in the near term. At 
press time, BTC trades at $118,371, up 0.6% in the past 24 hours. Featured 
image from Unsplash, charts from CryptoQuant and TradingView.com

Bitcoin Sees Rising New Investor Dominance, Old Holders Yet To Capitulate

A proposed exchange-traded fund (ETF) combining Pudgy Penguins’ PENGU token 
and its non-fungible tokens (NFTs) has progressed to formal review by the U.S. 
Securities and Exchange Commission (SEC), according to a new report by Animoca 
Brands Research. Animoca Highlights Pudgy Penguins’ Path: IP Boom to ETF 
Filing Animoca researchers note that the hybrid product, filed […]

Report: PENGU Token’s ‘Social Currency’ Role Underpins Novel ETF Bid

Fold’s latest play makes Bitcoin as easy to gift as a last-minute birthday 
card. With Blackhawk’s retail muscle, BTC is now a checkout-line option at 
over 400,000 stores, transforming crypto from an investment into something 
users pick up while shopping.…

Fold expands Bitcoin’s reach through America’s $300b gift card infrastructure

Visa, Mastercard, tech firms and banking institutions are all exploring ways 
of using blockchain technology for payments and settlement.