U.S. Treasury Secretary Scott Bessent says the United States has entered a golden era of cryptocurrency as it looks to unlock new possibilities with blockchain technology. Bessent’s comments come as the U.S. cryptocurrency space experiences notable growth and backing under…

Treasury Secretary Bessent says U.S. at Golden Age of crypto

Bitcoin (BTC) is navigating a period of heightened uncertainty as its price 
struggles to regain upward momentum following recent declines. Over the past 
24 hours, the world’s largest cryptocurrency recorded a dip to $114,326 before 
slightly recovering above the $115,000 mark. Despite this rebound, the asset 
remains under pressure, with recent market movements highlighting potential 
shifts in trader sentiment and long-term holder behavior. Data shared by 
market analysts indicates that derivatives activity is playing a significant 
role in current price fluctuations. Insights from the analytics platform 
CryptoQuant suggest that sudden changes in leveraged positions and aggressive 
selling pressure on major exchanges are contributing to the ongoing 
volatility. At the same time, on-chain data shows an increase in activity from 
long-term Bitcoin holders, suggesting a structural change in the market that 
may influence future price dynamics. Related Reading: Bitcoin New Investor 
Dominance Rises – No Signs of Mass Profit-Taking Yet Leveraged Positions Under 
Pressure on Major Exchanges According to a recent analysis by CryptoQuant 
contributor Amr Taha, Bitcoin’s decline below $115,000 coincided with a 
notable reduction in open interest on Binance, dropping from $14 billion to 
under $13.5 billion in a short span. This 4% decline in open interest within a 
single day is often linked to liquidation events, where leveraged positions 
are closed automatically due to margin calls. Taha explained that many traders 
appear to have exited long positions as the price fell, potentially triggering 
a cascade of sell orders and amplifying market pressure. Net Taker Volume on 
Binance also turned sharply negative, nearing -$160 million, suggesting an 
increase in aggressive selling activity. This trend reflects fear-driven 
reactions among market participants, particularly retail traders, who may have 
chosen to close or reverse positions amid expectations of further price 
declines. Despite this wave of selling, Taha noted the possibility of a short- 
term rebound. A reduction in leveraged long positions combined with an 
increase in short exposure could create conditions for a market rebalancing or 
a short squeeze if selling pressure eases in the coming days. Dormant Bitcoin 
Wallets Show Signs of Major Reallocation In addition to short-term derivatives 
market dynamics, other analysts are pointing to broader structural changes in 
Bitcoin’s investor base. CryptoQuant analyst OnChainSchool highlighted that in 
2024, more than 255,000 BTC previously inactive for over seven years were 
reactivated. In 2025, this trend has continued, with over 215,000 BTC already 
moving within the first several months of the year. The average monthly 
movement of long-dormant coins has risen from 4,900 BTC in 2023 to over 30,000 
BTC in 2025. Transaction sizes have also grown significantly, from around 162 
BTC to over 1,000 BTC per transfer. According to OnChainSchool, these patterns 
indicate that large-scale holders, rather than retail investors, are 
reallocating capital on a scale not seen in previous cycles. The analyst 
suggested that beyond price fluctuations, these shifts may have long-term 
implications for market liquidity and Bitcoin’s future ownership distribution. 
Featured image created with DALL-E, Chart from TradingView

Bitcoin Drops Below $115K as Traders Rush to Exit, But a Rebound Could Be Next

Marti Technologies has formally introduced a crypto asset treasury strategy, 
committing 20% of its cash reserves to bitcoin with regulatory safeguards and 
a roadmap to potentially raise that share to 50% including other major 
cryptocurrencies. On July 29, 2025, Marti Technologies (NYSE American: MRT), 
Türkiye’s top mobility app, announced it will begin holding bitcoin as […]

Marti Technologies Kicks off Bitcoin Treasury Strategy, With Roadmap to 50% Crypto Allocation

Solana (SOL) is attracting renewed institutional attention as major asset 
managers including Franklin Templeton, Grayscale, VanEck, and Fidelity have 
updated their spot Solana ETF filings with the U.S. Securities and Exchange 
Commission (SEC). Related Reading: XRP Set To Explode? Analyst Sees $5 Surge 
Any Moment – Details While the token’s price briefly dipped following the 
news, long-term indicators suggest this move could be a major bullish trigger. 
Asset Managers Revise Solana ETF Filings Amid SEC Dialogue As of August 1, at 
least seven asset managers submitted amended S-1 registration statements for 
Solana-based ETFs. These updates, which now include staking provisions and 
clearer custodianship structures, reflect ongoing discussions with the SEC. 
Notably, Grayscale’s updated proposal introduces a 2.5% annual fee in SOL, 
while VanEck’s version includes active staking rewards and dual custodianship. 
These moves are viewed as part of a coordinated strategy to align with SEC 
expectations, especially after the Commission recently approved in-kind 
redemption structures for Bitcoin and Ethereum ETFs. Market watchers believe a 
decision on Solana ETFs could arrive as early as late August or September 
2025. SOL Price Reacts Cautiously, But Long-Term Momentum Builds Surprisingly, 
Solana&#8217;s price dropped by over 3% following the ETF filings, closing at 
$170.24. This suggests the news may already be priced in, or that traders 
remain cautious amid broader market uncertainty. Technical indicators show 
bearish momentum, with SOL struggling to stay above key support zones at $170 
and $158. A close above $180 could reignite bullish sentiment, while a drop 
below $158 may signal a deeper correction toward $145 or $130. SOL&#8217;s price 
moving sideways following a major price spike on the daily chart. Source: 
SOLUSD on Tradingview What Solana ETF Approval Could Mean for SOL While short- 
term volatility persists, the broader implications of Solana ETF approval are 
substantial. A greenlight from the SEC could legitimize Solana as a mainstream 
investment asset, increase market liquidity, and open the door for more 
institutional adoption. With over $60 billion in staked SOL and a maturing 
ecosystem, Solana is well-positioned to benefit once regulatory clarity 
arrives. Related Reading: If Dogecoin Loses This Level, Expect A Major Crash: 
Analyst Warns In the coming weeks, all eyes remain on Washington. But for 
long-term investors, this could be the calm before a potential breakout. Cover 
image from ChatGPT, SOLUSD chart from Tradingview

Why Solana Could Skyrocket: Multiple Asset Managers File Revised ETF Applications to SEC

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Mill City Ventures III announced a $500 million equity agreement to boost its 
SUI treasury, which currently sits at 76.2 million units after making its 
first $276 million purchase this week.