XRP has entered a potential correction phase as its Stochastic RSI remains in overbought territory.
The indicator, which measures momentum relative to recent range, has stayed above 80 on XRP’s daily chart since June 28.
Past instances in 2025 show similar setups have led to 12% to 45% price drops, averaging a 25% decline.
With the same pattern forming in July, analysts anticipate a near-term pullback.
Descending Triangle Adds to Downside Risk
XRP’s current chart structure suggests further pressure.
A descending triangle pattern has formed following XRP’s previous upward trend, with bearish projections placing support near $1.14.
This marks a potential 50% drop from current levels.
Crypto analyst Xanrox warns of a deeper correction tied to a multi-year ascending triangle dating back to 2017.
He points to a Fair Value Gap (FVG) created during XRP’s early 2025 rally, noting that such gaps are often revisited after sharp gains.
Extreme Bearish Projection Targets $0.60
Xanrox believes XRP could retrace toward the triangle’s lower trendline at $0.60, suggesting a 70% drawdown from present prices.
This prediction follows XRP’s 2025 peak near $3.40.
However, not all analysts are pessimistic.
Mikybull Crypto envisions a symmetrical triangle setup targeting $3.70 by September, while XForceGlobal projects a range between $8 and $27 based on Fibonacci analysis.
Other bullish arguments cite whale accumulation and a falling wedge breakout with upside targets near $3.20.
FTX’s bankruptcy estate has asked the U.S. Bankruptcy Court for permission to freeze crypto distributions to creditors in 49 countries with unclear or restrictive regulations.
The request, submitted Wednesday in Delaware, is aimed at avoiding potential legal penalties from violating cross-border digital asset laws.
“Distributions made by or on behalf of the FTX Recovery Trust into jurisdictions in violation of these legal restrictions may trigger fines and penalties, including personal liability for directors and officers, and/or criminal penalties up to and including imprisonment,” the estate warned.
China and Russia Among Targeted Jurisdictions
FTX’s creditor base spans the globe, but the estate has cited nations with prohibitive or undefined crypto laws as high risk.
These include China, Russia, Iran, Saudi Arabia, Egypt, and Ukraine, among others.
The estate said, for example, that institutions in Macau are barred by mainland authorities from engaging in virtual currency services.
The estate emphasized that all 49 identified jurisdictions are affected by similarly stringent regulations.
Distributions on Hold, Not Cancelled
While not rejecting payouts altogether, the estate clarified that it is placing distributions on hold pending legal clarity.
This delay includes the majority of claims originating from China, which represent 82% of the affected value.
Though China has banned crypto transactions, it hasn’t fully prohibited the possession of digital assets, creating ambiguity.
Meanwhile, nearby Hong Kong has taken a supportive stance toward crypto, recently endorsing investment products like ETFs and derivatives.
FTX’s legal team is pushing for a clear framework: “The FTX Recovery Trust has developed the restricted jurisdiction procedures to provide notice and a process for resolving the question of whether distributions will be made pursuant to the plan.”
The motion seeks court approval to proceed cautiously, allowing some distributions to resume once jurisdictional clarity is achieved.
Legal experts have voiced understanding of the strategy.
“It doesn’t surprise me that the FTX estate might not make distributions in countries where such distributions might be illegal,” said Aaron Brogan, managing attorney at Brogan Law.
Litecoin (LTC) has slipped beneath the $90 level, raising concerns among investors, but several technical and onchain signals suggest that a bullish reversal could be taking shape.
While the current price action may seem weak, analysts are pointing to a shift in market sentiment and upcoming macro events that could pave the way for a significant rally in the months ahead.
Market Activity Suggests Buyer Dominance Is Returning
One of the clearest signs of a potential bullish turnaround is seen in the 90-day Spot Cumulative Volume Delta (CVD).
This metric, which measures the balance between buy and sell pressure, turned positive for the first time since December 2024.
The flip to a “taker buy dominant” environment indicates that market participants are stepping in to accumulate LTC at current price levels.
The return of buy-side dominance often marks the early stages of a trend reversal and suggests that selling pressure is beginning to subside.
ETF Speculation Adds Fuel to the Fire
Further boosting bullish sentiment is the growing optimism around a potential Litecoin exchange-traded fund (ETF).
According to Bloomberg analysts, there is a 95% probability that the U.S. Securities and Exchange Commission will approve LTC, SOL, and XRP ETFs by October 2.
Such approval would mark a major milestone for Litecoin, opening the door for increased institutional participation and broader retail access.
The market often reacts positively in anticipation of such regulatory developments, which could provide a meaningful catalyst if confirmed.
Seasonal Weakness Could Delay Immediate Gains
Despite these positive indicators, historical trends suggest caution in the short term.
Data reveals that August and September have consistently been Litecoin’s weakest months, delivering average returns of -6.99% and -5.06% respectively since 2012.
However, these months are typically followed by a strong recovery, with November standing out as the most profitable period for LTC historically, boasting an average return of 94.79%.
If the anticipated ETF approval aligns with Litecoin’s seasonal pivot, the convergence of timing and sentiment could amplify the upside.
Price Structure Echoes 2024 Breakout Pattern
Technically, Litecoin’s daily chart is mimicking its 2024 setup, when a Q1 rally was followed by a correction throughout Q2.
This year, the price has once again retested a significant demand zone that served as a launchpad for a breakout in late 2024.
If LTC continues to accumulate within this zone, it may soon challenge the descending trendline that has contained its price for several months.
A successful breakout above the trendline, accompanied by a reclaim of the 50-day and 200-day moving averages, would provide a strong confirmation of bullish momentum heading into Q4.
Strategic Opportunity or Risk?
While price weakness persists for now, multiple layers of technical and fundamental signals suggest that current levels may present a strategic accumulation opportunity rather than a warning sign.
With institutional interest growing and technical setups pointing to historical parallels, the path forward for Litecoin could become significantly more optimistic if conditions align in the coming weeks.
Bitcoin’s price has dropped nearly 2% to around $105,560 over the past day, but market sentiment remains relatively strong.
The Crypto Fear & Greed Index registered a score of 63 on Wednesday, down just one point from the previous day, indicating continued market confidence.
Bitcoin had nearly reached $108,000 on Tuesday before sliding into a short-term correction. Analysts are closely watching to see if the cryptocurrency will retest its all-time high of $111,970 set on May 22.
Historical Trends Cast Shadow Over Q3
Analysts have flagged the third quarter as historically slow for Bitcoin.
“From the historical data, this quarter is generally the slowest out of all, for both $BTC and $ETH,” said trader Daan Crypto Trades.
Since 2013, Bitcoin has averaged just a 5.47% gain during Q3. If the trend continues, Bitcoin could rise to about $111,000 by September 30.
Daan attributes the slower performance to “slower summer months where there’s generally less action, volumes [and] liquidity.”
Q2 Outperforms Averages
Bitcoin delivered a solid second quarter with a 31% gain, ending at $108,383—about 4% above the historical Q2 average of 27% since 2014. June also saw the asset print its highest monthly candle.
Despite short-term volatility, Bitcoin continues to dominate the crypto market.
Its dominance stands at 65.5%, up nearly 13% year-to-date, according to TradingView.
Meanwhile, CoinMarketCap’s Altcoin Season Index stands at 20 out of 100, suggesting it is still Bitcoin’s market.
However, CryptoQuant’s head of research Julio Moreno noted a waning bullish signal.
“Bitcoin Bull Score is in NEUTRAL territory now–50. Needs to be 60 or above for prices to sustain a rally,” Moreno said.
Solana’s native token SOL jumped 7% on Monday following confirmation of the launch of the first Solana ETF featuring staking capabilities.
The new product, set to debut Wednesday, ignited a wave of optimism among traders, briefly pushing SOL to $161 before settling at $157.
Innovative ETF Structure Bypasses SEC Approval
The ETF is being introduced by REX Shares in partnership with Osprey Funds.
To sidestep the traditional SEC approval process, they created a taxable C-corporation.
This structure, common in energy infrastructure investments, allows for quicker rollout but is less tax-efficient, taxing dividends at both the corporate and shareholder levels.
Despite the ETF’s novelty, investors tempered expectations, recognizing that similar instruments could easily emerge for other altcoins.
Limited Institutional Demand Raises Questions
Grayscale’s Solana Trust (GSOL), operating for over two years, manages just $75 million in assets.
By comparison, Grayscale’s Ethereum Trust held $10 billion one month before the Ethereum ETF’s launch.
This discrepancy suggests that institutional appetite for SOL may be modest, even with the new ETF’s added staking feature.
Staking Unlocks and DApp Selling Apply Pressure
SOL’s rally faces additional hurdles.
Roughly $585 million in SOL will unlock from staking in the next two months, adding potential sell pressure.
Major Solana-based DApps have also offloaded significant holdings.
In 2025 alone, the token launch platform Pump sent $404 million worth of SOL to exchanges.
These sales may explain why SOL has moved in line with ETH and BNB over the past 30 days despite the ETF announcement.
Funding Rates and Network Metrics Offer No Strong Support
SOL’s annualized funding rate, a key leverage indicator, remains under 10%, indicating muted bullish sentiment.
Meanwhile, Solana’s network revenue has plummeted over 90% since January.
Even the rise in memecoin activity has failed to restore network health.
The launch of tokenized stock trading on Ethereum’s layer-2 solutions, including partnerships with Robinhood and Coinbase, further undermines Solana’s appeal in the high-performance DApp sector.
While the ETF has stirred interest, competition and weak fundamentals make a sustained rally above $200 unlikely for now.
Only a limited number of Bitcoin treasury companies are expected to weather the storm as market conditions tighten, according to a recent report from venture capital firm Breed.
The report highlights the risk of a “death spiral” for firms holding Bitcoin that trade near their net asset value (NAV), potentially leading to widespread market instability.
The Role of MNAV in Treasury Company Resilience
The success of Bitcoin treasury companies is closely tied to their ability to maintain a market value that exceeds their NAV, referred to as MNAV.
According to Breed, the higher this multiple, the greater the firm’s ability to attract critical debt and equity financing needed for converting fiat capital into Bitcoin.
When this premium erodes, the risk of financial instability increases sharply.
Breed outlined a seven-stage process that begins with a decline in Bitcoin’s price.
As Bitcoin value falls, so does the company’s MNAV, bringing share prices closer to their underlying NAV.
This dynamic reduces investor confidence and makes it increasingly difficult to raise additional capital.
This lack of access to fresh credit, combined with looming debt maturities, can trigger margin calls.
Firms may be forced to liquidate their Bitcoin holdings at inopportune times, further depressing the asset’s price.
This may result in a consolidation wave, with stronger companies absorbing weaker ones, potentially leading to a broader crypto market downturn.
“Ultimately, only a select few companies will sustain a lasting MNAV premium,” Breed’s report stated.
“They will earn it through strong leadership, disciplined execution, savvy marketing, and distinctive strategies that continue to grow Bitcoin-per-share regardless of broader market fluctuations.”
Equity Financing Provides Some Market Protection
The report notes that the potential fallout from the “death spiral” may be limited, at least in the near term.
Breed’s researchers said most Bitcoin treasury companies are currently funding their operations through equity rather than debt.
This reduces the risk of forced Bitcoin sales due to debt pressures, which could otherwise cause more significant market disruptions.
However, this balance could shift in the future.
If debt financing becomes more attractive or widespread, the sector might face deeper vulnerabilities, increasing the chance of systemic risk.
Treasury Bitcoin Holdings Surge in 2025
The corporate Bitcoin treasury trend has grown rapidly, especially since 2020 when Michael Saylor’s company, Strategy, began acquiring large quantities of Bitcoin as part of its financial strategy.
Since then, the idea has caught on across the financial world.
In 2025, over 250 entities now hold Bitcoin as a treasury asset.
These include corporations, pension funds, ETFs, government agencies, and crypto service providers.
Breed’s report warns that only a fraction of these entities are structurally sound enough to withstand extended volatility and maintain a MNAV advantage.
The concern is that others, particularly those heavily reliant on market price appreciation and external financing, may not survive prolonged market downturns.
As competition intensifies and the market consolidates, only the most disciplined and strategically agile companies will likely remain standing.
Coinbase Global Inc. closed at an all-time high of $369.21 on Thursday, marking a nearly 4% daily gain and a 40% jump over the past month.
This new peak surpasses the company’s previous closing record of $357.39 from November 2021.
The crypto exchange also led the S&P 500 earlier in the week, posting a 12.10% increase in a single day.
Coinbase’s inclusion in the S&P 500 on May 19 and increased regulatory clarity surrounding stablecoins have helped fuel investor enthusiasm.
The GENIUS Act, advanced in the U.S. House, has been particularly impactful given Coinbase’s co-creation of the USDC stablecoin with Circle.
Market Reactions and Predictions Vary
Despite the bullish momentum, opinions on whether Coinbase’s rally can continue remain divided.
Raoul Pal, CEO of Real Vision, commented, “Going vertical now…the liquidity spigot is wide, wide open.”
On the other hand, adviser Andy Heilman suggested that while the setup remains bullish, a pullback is likely in the near term.
He mentioned the potential for four-digit prices but cautioned against overconfidence.
Crypto analyst Cantonese Cat cited technical indicators showing expanding Bollinger Bands, implying further upside.
In contrast, another analyst, Chad, warned that the price may be “ripe for a cooldown” as it sits above the upper Bollinger Band.
Some long-time investors celebrated the milestone as a breakeven moment, noting that shares have returned to their 2021 launch price.
Coinbase debuted on April 14, 2021, at $381 before sliding to a close of $328.28.
Bitcoin traders may be in for another volatile spell as fresh analysis suggests a new round of liquidity-driven price moves could be on the horizon.
BTC has managed to hold the $105,000 level after rebounding from recent multi-week lows.
The recovery was partly spurred by a ceasefire in the Middle East, providing temporary stability.
Still, data from CoinGlass shows liquidity building up on both sides of the current spot price, setting up what traders refer to as a potential “liquidity grab”—a swift price movement that targets these pools.
“I wouldn’t be surprised to see $BTC push a little higher into the 107K’s before pulling back and taking the liquidity below 105-104K with a quick wick,” said analyst Mark Cullen on X.
He shared a heatmap from CoinGlass that highlighted levels where liquidation events could take place, pointing to growing pressure above and below the current price.
$108K and $111K in Focus for Upside Move
As liquidity accumulates near all-time highs, $108,000 has emerged as another likely price target, with market depth strengthening in that region.
Analyst Jelle suggested that the odds of a move higher are increasing.
“$111,000 looks eager to be tagged next,” he said, pointing to CoinGlass heatmaps showing a strong liquidity cluster at that level.
This view was echoed by others who believe that BTC could extend its rally before experiencing any significant correction.
Fellow trader Skew flagged $103,000 as a key support level to watch in case of a sharp drop.
“Currently market is pretty neutral in terms of positioning, longs opening targeting higher & shorts opening here as hedges,” he wrote on X.
“The more liquidity that gets attracted here = greater the reaction.”
Macro Events and Monthly Close Add to Pressure
Bitcoin’s price trajectory is now at a critical juncture ahead of the monthly candle close and upcoming U.S. economic data releases.
One such release is the Federal Reserve’s preferred inflation gauge, which could influence rate expectations and indirectly impact crypto markets.
If the data shows further disinflation, it may pave the way for a Fed rate cut in the near term.
BTC is currently up 1.7% for the month of June.
A strong monthly close would signal a bullish breakout from its current range, according to technical analyst Rekt Capital.
“A Monthly Close above ~$102400 (blue) would confirm the Monthly Range breakout,” he noted on X, sharing a chart to illustrate the pattern.
Whipsaw Risks Remain Despite Bullish Signs
Despite the upward momentum, traders remain cautious about sudden “whipsaw” price action—quick reversals triggered by aggressive moves toward liquidity levels.
With liquidity clustering both above and below current levels, Bitcoin remains vulnerable to sharp, unpredictable swings.
Until macroeconomic data provides clearer direction, BTC may continue to trade within a wide, volatile band as market participants look for the next breakout or breakdown trigger.
VMS Group, a Hong Kong-based multi-family office managing $4 billion in assets, is preparing to enter the cryptocurrency space for the first time.
According to a Bloomberg report, the firm plans to allocate up to $10 million to crypto investment strategies operated by Re7 Capital, although the exact amount is still under consideration.
The move signals VMS Group’s efforts to diversify its portfolio toward more liquid asset classes, as stated by managing partner Elton Cheung.
“The decision is part of recent moves by VMS to diversify into more liquid investments,” Cheung said.
Shifting from Illiquid Investments
Cheung noted that while VMS has enjoyed success in private equity and other long-term holdings, these investments have become increasingly difficult to exit due to a growing trend of companies delaying public listings.
This shift in market dynamics has influenced VMS Group’s strategy toward more agile asset classes such as crypto.
Indirect Exposure Through Re7 Capital
Rather than investing directly in digital tokens, VMS is opting for an indirect approach by allocating funds to Re7 Capital.
The firm specializes in digital asset strategies, focusing on decentralized finance (DeFi) and other yield-generating crypto opportunities.
This strategy allows VMS to gain exposure to the digital asset ecosystem while maintaining a degree of risk control.
Favorable Regulatory Environment
Cheung emphasized that the firm’s move is also supported by improving global regulations and rising institutional interest in the sector.
“We thought this was the right time because of growing demand and because we see clearer legislative and government support from various jurisdictions, as well as large institutional support and endorsement,” he said.
Hong Kong’s Regulatory Push for Crypto
Hong Kong has taken active steps in recent months to encourage innovation in the digital asset space.
In early June, regulators approved a framework allowing professional investors to trade crypto derivatives.
Around the same time, the government reportedly began using Chainlink’s Cross-Chain Interoperability Protocol in its central bank digital currency (CBDC) research.
Additionally, legislation passed in May allows the issuance of fiat-backed stablecoins by the end of the year.
Growing Corporate Interest in Crypto
Several Hong Kong-based firms are already adding digital assets to their treasuries.
Last week, MemeStrategy—an investment firm managed by 9GAG—became the first publicly listed company in the region to purchase Solana (SOL), acquiring over 2,400 tokens for approximately $368,000.
Earlier in May, DDC Enterprise, a ready-meal seller, purchased 21 Bitcoin as part of a larger plan to accumulate 5,000 BTC over the next three years.
These developments reflect a broader shift among businesses in Hong Kong towards embracing crypto assets.
Awaiting Comment
VMS Group has yet to respond to media inquiries regarding the investment and was unreachable for comment at the time of publication.
Texas Governor Greg Abbott has officially signed Senate Bill 21 (SB21), creating the Texas Strategic Bitcoin Reserve, a state-operated fund that will hold Bitcoin as a long-term financial asset.
The move makes Texas the first U.S. state to not only legalize a Bitcoin reserve but also to directly allocate public funds toward building digital asset holdings.
Unlike traditional state investments, the reserve will function outside Texas’ general treasury, serving as a hedge against inflation and a new tool to bolster the state’s financial resilience.
Strict Criteria Ensures Bitcoin-Only Holdings
According to the bill, only assets with a market capitalization exceeding $500 billion are eligible for inclusion in the fund.
Currently, Bitcoin is the only cryptocurrency meeting that requirement.
The Texas Comptroller of Public Accounts will manage the fund with guidance from a three-member advisory board composed of cryptocurrency investment experts.
Reserve Can Grow Through Airdrops and Donations
The legislation allows for the Bitcoin reserve to expand through various mechanisms beyond direct purchases.
These include blockchain forks, investment gains, and even airdrops or public donations.
A transparency provision mandates that a comprehensive report on the fund’s holdings and performance be published every two years.
Legal Protections Cement Reserve Independence
The passage of SB21 follows the earlier signing of House Bill 4488, which protects the reserve from being transferred into the general revenue fund.
This measure ensures the fund remains insulated from broader budgetary shifts and fiscal pressures.
Texas now joins Arizona and New Hampshire as the third U.S. state to approve a Bitcoin reserve policy.
However, Texas is unique in that it is the first to use state funds and establish an independent structure for its holdings.
Corporate Adoption of Bitcoin Continues to Grow
Public interest in Bitcoin reserves is being mirrored in the corporate world.
Nakamoto Holdings, a Bitcoin investment firm founded by David Bailey, a crypto adviser to former President Donald Trump, recently raised $51.5 million through a PIPE (private investment in public equity) transaction to increase its Bitcoin portfolio.
Meanwhile, France’s Blockchain Group has added 182 BTC worth approximately $19.6 million to its reserves, bringing its total to 1,653 BTC.
Growing Institutional Demand Signals Enduring Bitcoin Interest
Recent data from BitcoinTreasuries.NET shows that more organizations have begun holding Bitcoin as a treasury asset over the past month.
This aligns with a broader trend pioneered by Michael Saylor’s Strategy, which has been at the forefront of public company Bitcoin adoption.
The Texas Bitcoin reserve may mark a pivotal step in further institutionalizing Bitcoin’s role within public finance.