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Bitcoin Climbs Near $117K As New Altcoin ETFs Debut and Ethereum Exchange Reserves Dwindle

Staking-enabled altcoin ETFs—backed by a crypto-friendly retirement order—have spurred institutional demand, squeezing on-chain supplies.

Rare MVRV signal reappears for XRP - Can it spark another triple-digit rally?
XLM
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Overview

  • Bitcoin held firm above $115,000 this week, trading near $117,000 with analysts noting strong momentum that remains below overheating thresholds.
  • Ethereum surged to about $4,200 on Binance, its highest level since December 2021, as on-chain data showed exchange balances falling to a record low of 18.8 million ETH.
  • The REX-Osprey Solana + Staking ETF and other spot altcoin ETFs began trading this week, drawing significant institutional inflows into emerging tokens.
  • Cardano and Dogecoin are testing key resistance levels near $0.81 and $0.24 respectively, buoyed by bullish technical breakouts and rising whale accumulation.
  • BlockDAG’s presale has amassed over $364.5 million and enters its final 72 hours at $0.0016 before prices rise on August 11.