Bitcoin ATHs on THIS DAY, ETH to $4K, ENA Pump, Bittensor, Altcoin Surge & More

"Do you think we're going to break through alltime highs in Bitcoin again this week?"

"And then yeah, of course, ETH closed to 4K as well. That's another magical level where it could be an air pocket that takes us higher if we do break through 4K."

"although dominance, you know, right shoot up above 61% again. Okay. That's not we we like up and to the right except if it's for Bitcoin. Exactly. Exactly. That's the one chart we want to see go down."

"and it last week is at it's it's now at an all-time high. So, >> so that is a suggestion that the stock market is is very overheated,"

"Trump basically wants to put his own his own man in there, his own person. >> Um and yeah, I mean this could have very severe consequences."

"Now that CME gap was opened up two weeks ago >> and ideally we wanted to close that because if you've been keeping up with the stream you'll know that over the past 3 four months we've consistently closed these gaps. Indeed we closed the gap last another two weeks ago. So we we didn't close it which means it remains still open. So hopefully we can come back and close it at some point uh to continue our upward trend."

">> Okay. And in order to do that uh we'd have to drop to about 114K. >> Below slightly below 114 below 114K."

">> If it goes below bit low bit lower there's 111k which many people have said was a previous zone of resistance and it turned into a support. So let's see."

">> but kind of what's even crazier and as I think you tweeted about was that um that Bitcoin actually held up that cell pressure billion 9 billion and just chilling at 117K."

">> overnight we broke through 119K again uh just short of the 119.5K. This is because of uh optimism around the European uh the EU and US trade deal."

">> So, where we going this week? It's going to be a busy week for for sure. FOMC, GDP, tariffs, and NFP. Um, in terms of where we at in terms of price, 119.5K has been on the 4hour chart. It's been a level of um uh, you know, resistance. So, we'll see if we're able to break through that to be able to run higher."

">> Um, also take a look and note the liquidity pools. there is a lot of liquid liquidity above 120K and below 114K and that's important because above 120K is the near all-time highs and below 114K is of course where the CME gaps are."

">> I mean I think the main main level to watch here is 117K because this is based on some onchain data we hear from glass node. the cost basis distribution. There's been a lot of 73K BTC. I don't know if you guys go to the chart there."

">> at least 73K of Bitcoin has been distributed throughout that range, which means that the each dip is now being absorbed as investors steadily accumulate within this range. So, if we manage to maintain above 117K, we may more likely to move higher."

">> So, if we manage to maintain above 117K, we may more likely to move higher. If we break below it, then the next target would be 114K."

"And then yeah, uh, the crypto media reported on it. It was highly anticipated, probably the most anticipated launch of the year so far in a year where we have seen a lot of big launches. >> Exactly. And it was also unique in the way the launch happened which is a typical ICO which is open to everyone. >> $500 million sold out in 12 minutes."

">> And it triggered an immediate 14% price crash and released a torrent of community rage on crypto Twitter/cryptox."

">> the private sale investors who bought prior to that actually started dumping the token which uh they dumped $160 million worth of pump tokens often at a significant loss"

">> and this caused the the price to crash below the ICO price."

">> Um, so that I think was a big problem. Meanwhile, I think probably the biggest problem for this Pump Fund launch and for Pump Fun itself. Now, the the memecoin meta itself isn't over. I don't think I don't think meme coins are dead by any means, but it's certainly uh run out of steam compared to where it was, you know, at the start of the year, say, um, you know, and and towards the end of last year."

">> Um, so Pump Fun, its revenues are down big time. Um, it's not making as much money as it was."

">> and it's also having its lunch eaten by um Bonk. Fun or Let's Bonk, which is um uh you know, the Bonk ecosystems uh rival memecoin launchpad, which just seems to be um outperforming it massively."

">> Does Pumpfund really need a token? It it was making a lot of money. Sure, those revenues were down, but I think kind of they would probably have been better off investing some of those massive revenues that they made into making the platform better than than focusing so much on launching a token."

">> But like I don't think you know I think first and foremost you have to build a cool platform that people use and pump. Fun did manage to do that. It it just becomes like whether you actually need a token at all."

">> The winkling is the boss. [Music] >> Sorry, >> I'm watching this through. >> Oh my word. Okay, >> that's a good tribute. That's a great tribute. >> That is a great tribute. >> That's a good tribute to the legends, right? >> So, Nick as Hulk Hogan. >> There we go. >> That That fits. Could you Would you consider growing that sort of mustache? >> I need to I need to die. >> Hit the like button, folks. >> Hit that like button if you would like. >> Forget >> if we get if we get 2,500 likes, maybe. >> We'll see. >> Oh god, I don't know. >> Would you grow your hair long like Aussie Aussie guy over there? >> 100%. I used to have I used to have long hair. I don't think I Nice number. >> Yeah. >> Um, so yes. Well, a nice tribute from our production team there. If you if you can call it a tribute, it might be they might be revolving in their graves for all we know. But uh yeah, lost a couple of legends over the last over the last >> crazy man. Obviously, people made meme coins in tribute of them when they rallied. Uh, you know, >> yes, naturally. >> Naturally, as you do, there's no better tribute in crypto than to create a meme with degenerates trying to make money off of your untimely passing. Yeah, it's crypto tradition, of course. >> Hulkrin. >> Oh, please go that mustache. That would be so good. We get you a bandanna and everything. >> Um, okay. A nice a nice tribute to two uh two legends who have gone to a better place. Okay. So on the wall of fame this week, who else but of course this Bitcoin OG who casually casually just dumped $9 billion."

">> Can you imagine? I think that people in hindsight's 2020 have held that Bitcoin from 2011 >> Seen it. I mean think about most people what most people would have done when it just crossed because even in 2014 2015 you know that stash is already worth millions hundreds of millions. So, you know, it crosses the first 100 million, then 500 million, then a billion, and you still don't touch it. Don't touch it."

">> Yeah, ETH is up 65% in the month. It's outperformed Bitcoined."

">> Um, and it's earning $6 billion in fees from Tether alone which is dominating."

">> Um, because firstly, we've got now we talked about this on last week's stream, the Ether machine. Um this is a corporate vehicle that's aiming to offer largescale access to Ethereum yield. Um it launched and it now holds over 400,000"

">> and since May of 2025, Sharl Link has acquired over $1.3 billion worth of Ethereum with another 145 million incoming. And they also bought today."

">> Um, and they also um they uh then we've got Bit Mine. Now, this is Tom Lee's outfit, obviously famous for being a Bitcoin mining company, but they're pivoting towards uh ETH as well. And they're aiming to acquire a got 5% of ETH supply."

">> So basically on the market data front, uh f futures ETH open interest on the futures side reached an all-time high uh recently in July and also crucially price is also going up with that. So that's a good sign. So it's bullish momentum on that. And then speaking of the ETFs, last week was one of the first weeks ever where spot Ethereum ETFs outpaced Bitcoin."

">> that suggests if we u because as you pointed out earlier, Bitcoin ETFs actually saw some outflows. that suggests that capital is indeed rotating out of BTC and into ETH, albeit via ETFs."

">> Um, so yeah, and that's that's ETH. Now, moving on down in Ethereum's ecosystem, another really strong performer over the past week has been Athena and it's gained over 75% in a month, which is crazy."

">> Um, so yeah, partnered with Anchorage Digital. That's bringing that that's to bring 1.5 billion of USB. That's so this is this is the treasurybacked >> this is the treasurybacked uh the bidding to be the first stablecoin developer whose product has a clear path to full compliance with the US genius act which is recently passed."

">> and the price surged 21% as a result because this treasury vehicle will be engaged in a buy buyback program for ENO tokens."

">> um, but I think this is the big one in terms of a potential catalyst for ENA. you know, ENA is is is already performing well, but if um the speculation that the fee switch mechanism for staked ENA, that's S ENA, uh will soon be activated."

">> One of the metrics last week we saw that the Betensel subnet now the subnets are all the projects within the Betensor ecos ecosystem. It's crossed $1 billion um for the first time in terms of market cap last week."

">> Now stop me if you've heard this before Nick. It's planning to raise uh over $20 million from investors including Animoka and DCG to support decentralized AI development. And it's going to buy Tao tokens for its treasury."

">> So, yeah, Barry Silbert is a big uh big tow bull. Very very bullish on Betensor. So, uh you know, that is potentially that is potentially a big uh tailwind for it."

">> I kind of feel that Betensor has taken the sort of L1 for AI narrative that that near protocol was sort of going."

">> Near Protocol is actually speaking of AI cryptos, Near Protocol is going through an actual inflation vote right now. Uh and it's ending in 3 days. And this is basically a proposal to cut NIA's inflation rate from 5% to 2.5%."

">> I I I yeah, it's three days time. I I don't think I don't think it's going to pass guy. I mean we don't have it on the on the screen there but um it's at three days to go. 38% of state voted for a yay and uh they they need 66% to pass. So >> okay, that's probably not going to happen."

">> Maverick, um he uh recently posted a really interesting research thread on helium. Um, very worth read. I'm I'm much more bullish on it than I was. I It's one of those ones I kind of took my eye off it a little bit. I might I might consider adding some"

">> pricing the futures interest rates interest rate futures are pricing in nearly like a 97% chance of no rate cuts."

">> So 2.3% is expected. the previous quarter was 0.5%. So that was minus 0.5%."

">> 2.5% expected versus 2.3% previous on the headline number. And then the core is 2.7% expected and 2.7 um in terms of pre previous."

">> And then NFP day, non-farm payroll day we have. And the unemployment numbers, well, they're tied. Uh, so 102K is expected versus 147K previous."

">> The mechanics of Athena is different. The way it generates the yield um as and obviously Luna also had this mint and burn mechanism with US or stake through the anchor protocol. What ENA does is is it basically just tokenizes a cash and carry trade. So it goes and it goes uh shorts the futures long ETH staked ETH and then it's able to generate the yield there and it's all completely delta hedged."

">> and you can just see in terms of the most crazy market conditions it's been through over the past year when ETH has completely collapsed when you've had when cryp when crypto has fallen through the floor it still managed to hold those yields even when by that biotech right yeah and and Ethena does a lot of their hedging and their market their market done dynamics on bit as well as many other exchanges but the fact that even during that period when you an exchange has lost I don't know billion or so reserves"

">> It's unfortunate because it does seem that deep in would would have been one of the ways in which you'd get mass adoption of crypto networks be because people can use these physical networks in their daily lives. The case of Helium or there was Hivemapp WMT world mobile token all of these."

">> but I think the market has coalesced around the fact that the killer use case for cryptocurrency and decentralized networks is uh digital dollars."

">> I still think deepens day will come. I think there are genuinely like useful applications there and things like um uh things like helium and world mobile token that you mentioned earlier I I think are really good projects like doing kind of what crypto part of what crypto was was um you know, supposed to do in the first place."