U.K. listed oil and gas company Union Jack Oil intends to with partner with a joint venture to deploy Bitcoin mining facilities at a West Newton gas field. Will it lead to a Bitcoin treasury? According to a press release,…

Union Jack Oil plans to deploy Bitcoin mining rigs in West Newton ahead of BTC treasury proposal

Aave has pulled back from the value area high and is now trading near the 
point of control. A bullish channel formation is developing, with a potential 
reversal setup forming at support. Aave (AAVE) has entered a healthy 
correction after…

Aave approaches channel support as bullish structure remains intact

The Spot Ethereum ETFs have recorded significant outflows recently, sparking a 
bearish sentiment for the ETH price. These outflows also come at a time when 
the altcoin has dropped from a six-month high of $3,900 and looks to retest 
the psychological $3,000 level. Ethereum ETFs See Record Outflows Putting The 
ETH Price At Risk SoSo Value data shows that the Ethereum ETFs recorded a net 
outflow of $465.06 million on August 4, their largest outflow since they 
launched last year. These funds also recorded a net outflow of $152.26 million 
on August 1, which was the first net outflow after 20 consecutive days of net 
inflows. Related Reading: Ethereum Exchange Reserves Just Hit A New 9-Year Low 
Amid Treasury Accumulations These outflows from the Spot Ethereum ETFs 
indicate a wave of profit-taking, especially considering that the ETH price 
had rallied to a six-month high of $3,900 last month. Outflows from these 
funds are bearish for ETH as they can add selling pressure, with fund issuers 
selling coins to redeem shares. However, a positive is that these net outflows 
from the Spot Ethereum ETFs have been short-lived. Further data from SoSo 
Value shows that these funds recorded net inflows of $73.22 million and $35.12 
million on August 5 and 6, respectively. This coincides with the rebound in 
the ETH price, which hit the $3,700 level in the last 24 hours. Another streak 
of consecutive net inflows for the Spot Ethereum ETFs could spark another 
uptrend for the ETH price. Moreover, the Ethereum treasury companies like 
BitMine, SharpLink, and the Ether Machine continue to create massive demand 
for ETH as they expand their treasuries. BitMine’s Ethereum holdings topped 
833,000 ETH this week, making it the largest ETH treasury in the world. Will 
the ETH Price Crash Below $3,000? BitMEX co-founder Arthur Hayes has predicted 
that the ETH price could at least retest the $3,000 level. He highlighted the 
Trump tariffs, which take effect today, as one of the reasons that he holds 
this bearish sentiment towards Ethereum. The crypto founder also indicated 
that there isn’t enough liquidity in the market currently to boost crypto 
prices. Related Reading: Pundit Says Ethereum Price Is Headed For $9,000 After 
This Broadening Wedge Retest However, from a technical analysis perspective, 
crypto analyst Titan of Crypto has predicted that the ETH price is likely to 
continue its uptrend soon enough and avoid a drop to $3,000. In an X post, he 
highlighted a Bull Pennant pattern, which puts $5,000 in sight for ETH. The 
analyst remarked that this pattern is shaping up on Ethereum and that if it 
confirms, then the technical target stands at $5,000. At the time of writing, 
the Ethereum price is trading at around $3,680, up almost 2% in the last 24 
hours, according to data from CoinMarketCap. Featured image from Getty Images, 
chart from Tradingview.com

Spot Ethereum ETFs Are Bleeding With Record Outflows, ETH Price To Crash Below $3,000?

This content is provided by a sponsor. PRESS RELEASE. More than 150 million 
people speak Swahili across Kenya, Tanzania, Mozambique, Burundi, and the 
Democratic Republic of Congo — regions where interest in bitcoin is growing, 
but educational materials in local languages remain scarce. This has long 
limited access to essential knowledge about how bitcoin works […]

Trezor Academy: 150 Million Swahili Speakers Can Now Learn Bitcoin in Their Language

Bitcoin DeFi is seeing more venture capital interest as institutional 
investors flock to Bitcoin and its increasing yield-bearing capabilities.

BTCFi VC funding hits $175M as investors focus on consumer apps

A joint report due on Aug. 15 may lead to the conclusion of the nearly five- 
year legal dispute between the SEC and Ripple Labs.