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.

XRP tops $3 as Ripple case nears potential SEC dismissal

Bitcoin is holding firm above the $115,000 level after several days of trading 
below it, signaling renewed strength in the market. The bullish tone is 
building as Ethereum posts massive gains and altcoins begin to show strong 
moves over the past few days. For some analysts, this could be the start of 
the long-awaited altseason; for others, it’s simply the rest of the market 
catching up to Bitcoin’s earlier rally. Related Reading: Bitcoin–S&amp;P 500 
Correlation Hits 80%, Tying Crypto To Stocks Top analyst Axel Adler noted that 
Bitcoin’s price is now trading close to its all-time high, with the BTC 
Z-Score (Price, 30/365) sitting around +1.5σ above its one-year norm. This 
reading is well below the +2.5σ level typically associated with overheating, 
suggesting that while momentum is strong, it is not yet at extreme levels. The 
current environment offers a favorable backdrop for potential upside, with 
room for the market to expand further before reaching overheated conditions. 
With altcoins gaining traction and Ethereum’s rally adding fuel to the 
market’s optimism, the coming days could determine whether this is a 
sustainable breakout or just another phase of consolidation before the next 
major move. On-Chain Activity Still Lags Behind Price According to Adler, 
Bitcoin’s current market setup is showing a positive backdrop but with some 
important caveats. Adler points out that the Adjusted Price Divergence (APD) 
remains negative near −1.5 after rebounding from local lows around −2. This 
metric suggests that Bitcoin’s price is still outpacing on-chain activity, 
although the gap between the two is narrowing. In other words, while price 
momentum is firm, the network’s transactional activity and usage haven’t yet 
fully caught up. This discrepancy creates an interesting dynamic for the 
market. Adler explains that the bias still favors price, meaning momentum is 
being driven more by investor positioning and sentiment than by on-chain 
fundamentals. For the rally to gain more structural support, a healthier setup 
would see APD move toward zero. This could happen in one of two ways: either 
network activity increases significantly while price moves sideways or posts 
modest gains, or Bitcoin’s price cools off to better align with current usage 
levels. Importantly, Adler warns against interpreting APD moving toward zero 
as a direct buy or sell signal. Instead, it represents a sign of normalization 
— a point where market price and underlying network fundamentals are better 
aligned. For now, Bitcoin’s technical and macro backdrop remains bullish, but 
sustained long-term growth will likely require the network to catch up with 
price action. Related Reading: Ethereum Exchange Balances Decline To 18.8M 
ETH: Smart Money Drains Supply Bitcoin Price Holds Key Support Near $115K 
Bitcoin is consolidating above the $115,724 support level after a brief dip 
below it earlier this month. The daily chart shows price stabilizing just 
above the 50-day simple moving average (SMA), currently near $113,324, which 
has acted as a strong dynamic support throughout the recent uptrend. The 
short-term structure remains bullish, with BTC trading inside a range between 
$115,724 support and the $122,077 resistance level. Volume has tapered off 
slightly since the early August rebound, suggesting the market is in a wait- 
and-see mode before a potential breakout. A decisive close above $118,000 
could invite another test of the $122,077 resistance, a key level that has 
capped upside attempts multiple times. If broken, this could open the door 
toward new all-time highs. Related Reading: Bitcoin Miners Avoid Forced 
Selling: BTC Sits 7.4% Above Last Difficulty Bottom On the downside, losing 
$115,724 would shift focus to the 100-day SMA at $108,983 as the next major 
support. Until then, the higher-lows pattern suggests buyers are defending the 
mid-$115K zone aggressively. Featured image from Dall-E, chart from 
TradingView

Bitcoin Holds Strong Near All-Time High – Market Not Overheated Yet, Data Shows

In Q2 of 2025, U.S. bitcoin miner Cleanspark reported a revenue of $198.6 
million, marking a 90% increase from $104.1 million in the same period last 
year. Q2 Financial Performance In the second quarter of this year, U.S. 
bitcoin miner Cleanspark’s revenue soared to $198.6 million, an increase of 
more than 90% from the $104.1 […]

Bitcoin Miner Cleanspark Posts Record $257M Profit, Faces $185M Tariff Dispute

Michael Saylor isn’t worried about growing treasury interest in crypto assets 
beyond Bitcoin, claiming that Bitcoin will outpace the S&amp;P 500 for the 
“indefinite future.”

Michael Saylor is not sweating the rise of Ethereum treasury companies

The U.S. Securities and Exchange Commission’s Division of Corporation Finance 
issued a staff statement on August 5, 2025, addressing certain liquid staking 
activities, marking a key follow-up to its May 29, 2025 Protocol Staking 
Statement. Read the full statement here. The following opinion editorial was 
written by Alex Forehand and Michael Handelsman for Kelman.Law. What […]

Understanding the SEC’s August 2025 Update Regarding Crypto Staking

Crypto exchange Binance has reportedly teamed up with Spain’s BBVA to enable 
clients to store collateral outside the trading platform. In this arrangement, 
BBVA — the nation’s third-largest lender — will act as an independent 
custodian, holding client funds in US Treasuries that Binance accepts as 
margin for trades. The collaboration aims to reduce counterparty […]