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Bitcoin, Ethereum and XRP whales are accumulating during the price downturn, signaling the bear market may be entering its final stage, according to CryptoQuant. CryptoQuant added prices could still fall further before a bottom is confirmed.

Bitcoin appears to be building a bottom amid a dull sideways trading range, The Block reported. According to the media outlet, U.S. spot Bitcoin ETFs saw $211 million in net inflows on Aug. 4, local time, yet BTC showed little price reaction. Analysts interpreted the divergence not as a sign the market is preparing for a decline, but as an extremely compressed phase awaiting direction. Wintermute analyst Jasper De Maere emphasized, "비트코인이 단기간 내 6.5만 달러를 확실하게 돌파해야만 현재의 회복 시나리오가 유효하다고 볼 수 있다".

U.S. Republican Sen. Rick Scott called for passage of the CLARITY Act. In an interview with Fox Business, Scott said he had worked very hard for the CLARITY Act and stressed that senators needed to keep meeting and find a way to get it done.

A Michigan incumbent backed by major crypto industry spending lost a Democratic primary, Cointelegraph reported. In Michigan’s 13th Congressional District Democratic primary, progressive candidate Donovan McKinney won with 51.9% of the vote, defeating two-term Rep. Shri Thanedar. Thanedar had received more than $2 million in media ad support from a super PAC backed by Coinbase and Ripple, tied to his pro-crypto legislative record. McKinney drew voter support after strongly criticizing the crypto industry’s financial clout as "corporate-interest lobbying," according to the report.

U.S. Republican Sen. Josh Hawley said he would vote against the Clarity bill in its current form, Politico reported. Hawley cited concerns from the financial sector that reward programs tied to stablecoins and exchange deposits could draw deposits away from local community banks, and called for a new provision imposing strict limits on reward offerings by virtual asset platforms.

The market capitalization of Solana-based tokenized gold has surged 689% since August 2025, far outpacing growth on rival L1 networks including Ethereum, BNB Chain and Avalanche, according to on-chain data provider Birdeye. Birdeye said Solana’s low transaction fees and fast finality have helped significantly expand on-chain liquidity and DeFi collateral use for major gold-linked tokens such as PAXG and XAUT across the Solana ecosystem.

Coinbase said it is staking 41.63 million SOL, equal to 9.72% of all SOL staked across the Solana network in the second quarter. According to Coinbase’s second-quarter Solana validator operations report, the exchange currently operates 23 validator nodes distributed across seven countries and regions, including the U.S., the UK, Germany, Japan and Singapore.

Analysts said the Coldcard hack could provide a positive signal for some crypto-related stocks and demand for spot Bitcoin ETFs. According to CoinDesk, Wall Street investment bank Cantor Fitzgerald said the incident could prompt Coldcard users to shift to asset management service providers, potentially driving customer inflows and revenue growth for firms including Robinhood (HOOD), Coinbase (COIN), BitGo (BTGO), Bullish (BLSH), eToro (ETOR), and Gemini (GEMI). FRNT Financial, an institutional crypto platform, said the episode highlighted both the strengths and weaknesses of self-custody, and added the Bitcoin community had reacted with grief. For investors unwilling to take on the risks of managing private keys, spot Bitcoin ETFs could emerge as a more attractive alternative, FRNT Financial said.

Coinbase said it will halt trading support for six trading pairs as part of efforts to improve market health and strengthen liquidity. Trading for the LSETH/ETH, MINA/EUR, GRT/GBP, MASK/GBP, CHZ/USDT and CRO/USDT pairs will be suspended starting today.

U.S. Senate majority leader John Thune described the push to pass major bills before Congress begins its August recess as "완전히 아수라장," according to NBC News reporter Frank Thorp.

Bitmine (BMNR) Chairman Tom Lee said quantum computers could break Bitcoin between 2028 and 2029, according to U.Today. Citing Google research, Lee reproduced the English-language warning that "현대 컴퓨팅 기술이 비트코인의 기존 보호 장치를 무용지물로 만들 수 있다. 그러나 암호화폐 커뮤니티는 아직 통일된 구제책을 마련하지 못하고 있다" and said Lee believes Ethereum and Solana are much better protected against that risk.

Sequans Communications, a Nasdaq-listed semiconductor company, sold 1,200 BTC in the second quarter, cutting its holdings 79.3% to 314 BTC as of June 30 from 1,514 BTC as of March 31, CryptoSlate reported. The move was part of a strategy to repay convertible debt and raise cash, and the company announced on May 28 that it had completed the debt repayment through Bitcoin sales.

U.S. Sen. Cynthia Lummis said the White House had agreed to an unprecedented level of ethics provisions for the CLARITY Act and strongly warned that if the bill ultimately fails to pass, Democrats refusing to negotiate would bear responsibility. Lummis also pointed to delays in advancing the bill despite the agreement with the administration.

The U.S. Department of Justice has charged Taj Tarsha, founder of NFT marketplace Few and Far, with securities fraud and wire fraud. Prosecutors said Tarsha raised investment funds through false statements and used part of the money for personal purposes including gambling and luxury spending. According to the indictment, after an internal audit in 2023 flagged irregular use of funds, Tarsha falsely told investors the money was needed for project development and made it appear the company was still operating. As a result, project development was effectively halted. Tarsha was arrested on June 6, and the case is set to be heard in the U.S. District Court for the Southern District of New York.

Coinbase announced via X that its services are available in a range of countries and regions, including Albania, Andorra, Angola, Argentina, Armenia, Australia, Azerbaijan, the Bahamas, Bahrain, Barbados, Belgium, Benin, Bolivia, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Cameroon, Canada, Chile, Colombia, Costa Rica, Croatia, Cyprus, the Czech Republic, Denmark, the Dominican Republic, Ecuador, El Salvador, Estonia, Finland, France, Georgia, Germany, Ghana, Gibraltar, Greece, Guatemala, Guernsey, Honduras, Hong Kong, Hungary, Iceland, India, Ireland, the Isle of Man, Italy, Jamaica, Jersey, Jordan, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, the Maldives, Malta, Mauritius, Mexico, Monaco, Mongolia, Montenegro, Namibia, Nepal, the Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Oman, Pakistan, Panama, Paraguay, Peru, the Philippines, Poland, Portugal, Romania, Rwanda, San Marino, Serbia, Singapore, Slovakia, Slovenia, South Africa, Sri Lanka, Sweden, Switzerland, Taiwan, Togo, Trinidad and Tobago, Tunisia, Türkiye, Uganda, Ukraine, the United Arab Emirates, the UK, the U.S., Uruguay, Uzbekistan, Venezuela and Zambia.

Strategy’s preferred stock STRC has risen more than 30% from its June low and was trading at around $94, CoinDesk reported. CoinDesk said Strategy’s ability to pay dividends has been strengthened through Bitcoin sales and a $4 billion U.S. dollar reserve, while STRC’s annual dividend rate has been maintained at 12%. CoinDesk added that Bitcoin holding steady above $60,000 has also been a positive factor.

A total of 4.54 trillion PEPE left exchanges over the past day, marking the token’s largest net exchange outflow since Nov. 14, 2024, according to Santiment data. A decline in exchange balances means fewer tokens are readily available for quick selling, which lowers the risk of sudden large-scale sell-offs. Santiment said PEPE has mostly traded sideways over the past two months and explained that outflows from exchanges in the absence of aggressive buying could indicate supply is moving into stronger hands before bullish investor interest returns.

The CLARITY Act was not included in the U.S. Senate’s agenda today, according to a media outlet.

Circle has renewed its agreement with Coinbase on existing terms, ensuring USDC will continue to hold a central role across all Coinbase products, Circle co-founder and CEO Jeremy Allaire said on an earnings conference call. Allaire added he expects distribution agreements with partners whose strategic direction aligns with Circle’s to help meaningfully expand the USDC network. Earlier, Coinbase decided it would retain all interest income generated from USDC on Hyperliquid, unlike its previous 50-50 split of USDC interest revenue, and then pay 90% of that income to Hyperliquid.

U.S. Sen. Cynthia Lummis, a crypto-friendly lawmaker, said in an interview with Fox News that she is confident the CLARITY Act, a bill aimed at clarifying digital assets, will be brought to a full Senate vote before Congress begins its August recess.

Ethereum accumulation firms have overtaken spot ETFs as the largest group of ETH holders and are continuing to widen the gap, Unfolded reported. Bitmine alone holds nearly 5% of Ethereum’s total supply, while spot ETFs and digital asset treasury firms together account for about 11%, according to Unfolded.

The U.S. has lifted Iran-related sanctions, according to the U.S. Treasury Department’s official website.

Bitwise CEO says crypto substance is outpacing price for the first time in 8 years Hunter Horsley, CEO of Bitwise, said "substance" has begun to move ahead of price in crypto for the first time since Horsley entered the industry more than eight years ago.

U.S.-listed Bitcoin treasury firm Hyperscale Data (GPUS) announced the sale of an additional 150.5 BTC last week, reducing its total holdings to 958.53 BTC. The company is pursuing a transition into a data center operator with BTC as a treasury asset.

Iranian and Omani negotiating delegations have agreed on a draft accord and are awaiting final approval from Iran’s supreme leader, according to AP, citing two regional officials on Aug. 5 local time. According to the officials, who are familiar with the talks, the potential agreement was devised as a temporary solution to the U.S.-Iran dispute over maritime transport through the Strait of Hormuz. The accord is tied to an agreement the U.S. and Iran reached in June to end the dispute and reopen the strait, but which was ultimately not implemented. The officials added the potential deal could serve as a basis for the U.S. and Iran to resume negotiations on a final agreement over Tehran’s nuclear program.