Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Bitcoin sits at $113,906 today with 24-hour volume nearing $58.5 billion. Despite a minor dip of 0.43%, big money continues flowing in. Galaxy Digital just reported a Q2 profit of $30.7 million, bouncing back from a $295 million Q1 loss. The turnaround was driven by a strategic boost in BTC holdings, now totaling 17,102 BTC (worth roughly $1.95B), up from 13,704.
CEO Mike Novogratz called July their best month ever, with gains across all divisions. Trading activity might’ve slowed, but Galaxy’s Global Markets arm still clocked a 28% profit rise. Meanwhile, its Helios data center ramped up capacity, showing bullish infrastructure investment.
Most importantly, Galaxy actively accumulated 4,272 BTC in Q2 alone. That kind of accumulation squeezes supply, and that could be a strong long-term tailwind for Bitcoin prices.
Cango Mines 650 BTC in July, Up 44% MoM
Cango, a Chinese firm formerly in auto loans, is now a full-blown Bitcoin miner—and growing fast. In July, it mined 650.5 BTC, a jump from 450 in June, powered by a $256 million Bitmain rig investment. With a hashrate of 32 EH/s, it’s now one of the top 20 publicly traded Bitcoin holders globally, sitting on 4,529.7 BTC ($512M).
The pivot from cars to crypto isn’t just a flashy rebrand—it’s part of a global trend. Since April, Cango has mined over 1,600 BTC, showing both momentum and commitment.
Their move reinforces institutional trust and strengthens BTC’s long-term supply absorption, especially noteworthy for a company based in a country known for strict crypto crackdowns.
Trump’s Crypto Order Adds Political Tailwind
Donald Trump is expected to sign an executive order protecting crypto companies and conservative groups from “debanking.” The move targets Operation Chokepoint 2.0—allegedly used to cut off banking access to crypto firms.
The order pushes federal agencies to investigate potential violations and calls for reviews of regulations that might’ve enabled discrimination. While legal experts debate its enforceability, the broader message is clear: more political support for crypto access.
If successful, this could improve funding and liquidity for the crypto space, opening doors for increased investor confidence, and potentially pushing Bitcoin higher in the long run.
Technical Analysis: Bitcoin Struggles Below $115K
On the 4-hour chart, Bitcoin remains trapped below the descending trendline and the 50-EMA at $115,440—both acting as dynamic resistance. The recent rejection near $115,400, with small-bodied candles and spinning tops, signals indecision. RSI hovers at 46—bearish bias remains intact.
Unless bulls reclaim the $115,440 zone, BTC risks slipping toward key support levels:
- Immediate support: $112,178
- Next support: $110,663
- Deeper support: $109,060
On the upside, breaking above $115,440 could open targets at $116,912 and $118,878.
Trade Setup:
- Entry: $113,800
- Stop-loss: $115,600
- Target 1: $112,180
- Target 2: $110,660
This short setup favors bears unless BTC breaks above the 50-EMA and trendline. Wait for a strong bearish candle close before entry.
Bitcoin Hyper Presale Over $7M as Price Rise Nears
Bitcoin Hyper ($HYPER), the first BTC-native Layer 2 powered by the Solana Virtual Machine (SVM), has raised over $7.1 million in its public presale, with $7,117,770 out of a $7,866,608 target. The token is priced at $0.012525, with the next price tier expected to be announced soon.
Designed to merge Bitcoin’s security with Solana’s speed, Bitcoin Hyper enables fast, low-cost smart contracts, dApps, and meme coin creation, all with seamless BTC bridging. The project is audited by Consult and engineered for scalability, trust, and simplicity.
The golden cross of meme appeal and real utility has made Bitcoin Hyper a Layer 2 contender to watch in 2025. With staking, a streamlined presale, and a full rollout expected by Q1, $HYPER is gaining serious traction.
