A sophisticated supply chain attack on Seychelles-based crypto exchange BigONE led to a $27 million theft from hot wallets, without exposing private keys.

$27 million gone, no private keys exposed: How the BigONE hack happened

Bitcoin is trading just above the $112,000 level after breaking down from a 
consolidation range that held for over two weeks. The sharp decline sparked 
concerns among investors, particularly among Short-Term Holders (STH), who now 
face the difficult choice of realizing losses or holding underwater positions. 
However, top analyst Darkfost shared key insights suggesting that Bitcoin&#8217;s 
underlying demand remains robust, despite the price volatility. Related 
Reading: Bitcoin Inflows To Binance Accelerate: Investor Behavior Shifts After 
Months Of Decline According to Darkfost, the Apparent Demand metric—comparing 
new BTC issuance to over one-year inactive supply—indicates that the market is 
still absorbing supply effectively. The ratio has stayed in positive 
territory, signaling that demand continues to outpace new issuance. Over the 
past 30 days, approximately 160,000 BTC have been accumulated, highlighting 
strong buying behavior even as prices corrected. While sentiment among STH has 
weakened due to the recent drawdown, long-term accumulation trends suggest the 
broader market structure remains healthy. Investors with longer time horizons 
are continuing to add to their positions, reflecting confidence in Bitcoin’s 
long-term prospects. As BTC stabilizes around $112K, market participants are 
closely watching for a potential reversal or a deeper correction, with demand- 
side indicators offering a more optimistic outlook for the weeks ahead. Demand 
from Accumulator Addresses and OTC Desks Signals Strong Conviction Darkfost 
also highlighted critical insights regarding Demand from Accumulator 
Addresses, a metric that tracks wallets that have only acquired Bitcoin 
without any history of selling. This indicator provides a clear view into both 
the demand dynamics and the holding conviction of long-term investors. Over 
the past month, the average BTC accumulated by these addresses has grown by 
approximately 50,000 BTC, showcasing a consistent and determined buying trend, 
despite recent price corrections. Such behavior underscores the confidence of 
long-term holders who are taking advantage of market dips to strengthen their 
positions. On a broader horizon, BTC held on OTC Desks reflects a more 
strategic and long-term demand pattern. Unlike exchange-based activity, OTC 
transactions are less visible in immediate price action but offer a window 
into the intentions of institutional players. Since September 2021, the supply 
of BTC on OTC desks has dropped sharply, from around 550,000 BTC to just 
145,000 BTC today. This significant decline indicates that large-scale buyers 
are consistently removing Bitcoin from OTC circulation, reducing the available 
supply for future institutional entrants. Whether examining short-term 
accumulation or long-term OTC trends, the overall demand-side picture remains 
notably positive. Despite recent volatility and a wave of short-term profit- 
taking, there are no major signs of structural weakness from demand-side 
indicators. Related Reading: Exchanges Receive 21,400 Bitcoin At A Loss From 
Short-Term Holders – Retail Capitulation? Bitcoin Faces Key Resistance After 
Rebounding from Local Lows Bitcoin is currently trading at $114,476, showing 
signs of stabilization after a sharp drop to $111,971 earlier this week. The 
chart shows BTC still hovering below the crucial $115,724 resistance, which 
aligns with the lower boundary of the previous consolidation range. The 50-day 
SMA sits at $100,228, providing a solid technical base, while the 100-day SMA 
at $95,433 remains a key medium-term support zone. The 200-day SMA is rising 
steadily at $77,282, confirming the long-term bullish trend. Despite the 
recent volatility, Bitcoin’s price structure still suggests a bullish outlook 
as long as BTC maintains higher lows above the $110K level. However, the 
$122,077 resistance remains a critical barrier. Breaking above this level 
would signal a strong bullish continuation towards new highs. Related Reading: 
Over 1-M Ethereum Withdrawn From Exchanges In 2 Weeks: Supply Shock Incoming? 
Volume activity has been decreasing during this retracement, which is a 
positive sign, indicating that selling pressure is not overwhelming. If BTC 
can reclaim the $115,724 zone in the coming sessions, it would increase the 
probability of another breakout attempt towards $122K. Featured image from 
Dall-E, chart from TradingView

Bitcoin Demand Holds Strong Despite Price Drop: Accumulation Trend Remains Intact

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EU Awards €1.5M to a US-led Decentralized AI Project, AIxBlock, With €61.5M in Additional Grants Pre-Approved to Scale Decentralized AI Infrastructure Across Europe

Amid the pressure President Trump has been piling on Federal Reserve Chair 
Jerome Powell, traders are now leaning heavily toward the idea of a small rate 
trim. CME’s Fedwatch data shows an 85.7% probability that a quarter-point cut 
is on the horizon, making it the clear favorite in the market’s playbook. 
Kalshi, Polymarket, and Wall […]

Prediction Markets and CME Fedwatch Data Place Sky-High Odds on Fed Rate Cut for September

France&#8217;s National Rally&#8217;s shift to Bitcoin could signal a broader acceptance 
of crypto in politics, impacting energy policy and economic strategies.
The post France&#8217;s far-right National Rally unexpectedly warms to Bitcoin after 
years of opposition appeared first on Crypto Briefing.

France’s far-right National Rally unexpectedly warms to Bitcoin after years of opposition

Bitcoin is trying to start a recovery from $112,000, but bears may pose a 
substantial challenge at $117,000 and then at $120,000.