Traders are betting big on Bitcoin as calm markets and record-low volatility mask the bull’s intentions. Key takeaways: The Bitcoin Implied Volatility Index has fallen to its lowest level since September 2023, hinting at a potential breakout. The short-term holder realized cap drawdown is at -8%, which is historically a bullish accumulation zone. Read more
A vote on prospective CFTC Chair Brian Quintenz was taken off the Senate Agriculture Committee’s agenda on Monday as the chamber heads into recess. The Senate Agriculture Committee has pulled a planned hearing on Brian Quintenz’s nomination to chair the Commodity Futures Trading Commission (CFTC), following a request from the White House just days before lawmakers leave for August recess. In an update to the committee’s schedule on Monday, chair John Boozman and ranking member Amy Klobuchar said lawmakers would not consider Brian Quintenz’s nomination to chair the CFTC. A spokesperson for the committee told Cointelegraph that consideration of Quintenz’s nomination was removed following a request from the White House. Cointelegraph reached out to the White House for comment but had not received a response at the time of publication. Read more
The Nasdaq-listed biotechnology firm is raising $425 million for its ETH strategy, joining a parade of penny stocks investing in cryptocurrencies as their business flounders. Nasdaq-listed 180 Life Sciences Corp plans to invest heavily in Ether and rebrand as ETHZilla Corporation, a strategic pivot away from its biotechnology origins amid mounting losses. On Tuesday, the company announced a $425 million private placement aimed at building an Ether (ETH) treasury reserve. The funds are being raised through a private investment in public equity (PIPE) deal involving the sale of common stock, a structure often used by crypto-focused investors. Additionally, the company disclosed it has approval to issue up to $150 million in debt securities. Read more
Bitcoin prepares for an impulse move, and if the upside is taken, ETH, BNB, AVAX and PENGU could explode higher. Key points: Bitcoin is preparing for a range expansion in the next few days, and the trend favors the bulls. ETH, BNB, AVAX, and PENGU are looking set for a possible upside move. Read more