Read in-depth analysis of crypto news
Odaily News: BitcoinTreasuries.NET posted on X that AllianceBernstein, which manages $800 billion in assets, has lowered its price target for bitcoin treasury company Strategy from $450 to $350 per share, while maintaining an outperform rating. The new target still implies 180% upside.
Odaily News: Meme coin trader Bonk Guy stated that JUGGERNAUT is one of the Robinhood Chain ecosystem meme coins he is currently focusing on, and he believes the token is significantly undervalued at present.
Bonk Guy noted that JUGGERNAUT's narrative stems from the "The Juggernaut" meme frequently used by Robinhood co-founder Vlad Tenev, which has strong viral potential. JUGGERNAUT previously surged to around $22 million in market cap when CASHCAT first broke the $100 million mark, then pulled back and consolidated in the $2 million to $4 million range for about a month, but community activity and trading volume remain strong.
Bonk Guy believes this pattern fits his criteria for finding assets "before a major repricing," and JUGGERNAUT could see a larger rally in the future.
Odaily News: Facing multiple shocks from the Iran situation, the AI infrastructure boom, and extreme weather, global central bank governors reconvened at Jackson Hole. The communication style of Fed Chair Warsh, intertwined with bond market volatility, has the market eagerly seeking clear signals on inflation management.
Looking back at last year, then-Fed Chair Powell signaled rate cuts at this venue, and European officials were also discussing further easing. However, a year later, the global economic landscape has been significantly altered by the Iran conflict, the wave of AI investment, and supply disruptions caused by extreme weather. Facing upward price pressures, some central banks have already taken the lead in raising rates, and more policymakers are preparing to follow suit.
The focus of this year's symposium is undoubtedly Kevin Warsh, the new Chair of the Federal Reserve. Since taking office, Warsh has changed the Fed's long-standing communication tradition, abandoning clear "forward guidance" and advocating that investors should rely more on market signals to gauge policy direction. (studylib)
Odaily News: Bitcoin has rebounded strongly recently, and analysts believe that record short squeezes and policy signals from U.S. Treasury Secretary Scott Bessent may be pushing the market into a new phase of bull market cycle adjustment.
Data shows that Bitcoin has risen about 23% over the past week, marking its largest weekly gain since the post-U.S. election rebound in November 2024. Trading activity in the crypto market has also picked up, with spot and perpetual contract trading volume up 188%, CME Bitcoin futures volume up 152%, and the annualized futures basis rising to 11.1%, the highest level since January 2025. Additionally, Bitcoin ETF products saw net inflows of approximately 31,740 BTC over the week, the strongest capital inflow since the market peak in October 2025.
Vetle Lunde, head of research at crypto research firm K33 Research, said the initial phase of this rally was primarily driven by short covering. On August 19, Bitcoin short positions saw a single-day liquidation of $1.37 billion, a record high, followed by another $739 million in short liquidations on August 21. The massive short squeeze pushed open interest in perpetual contracts down to 284,000 BTC, the lowest level since May, and funding rates have returned to neutral.
On the macro front, policy signals from U.S. Treasury Secretary Scott Bessent to increase long-term Treasury buybacks are also seen by analysts as a market catalyst. K33 believes that the Treasury buyback program could lower long-term interest rates and boost demand for scarce assets. Meanwhile, Bitcoin's correlation with gold has risen, with the 90-day correlation coefficient reaching 0.52, the highest since October 2020, while its correlation with the Nasdaq index has fallen to 0.38, a one-year low.
Matt Hougan, chief investment officer at crypto investment firm Bitwise Asset Management, believes that Bessent's recent remarks on sanctions against Iran's financial network have further strengthened Bitcoin's investment thesis: as the global financial system becomes increasingly influenced by geopolitics, the value of assets that are decentralized and do not rely on a single country's financial system may further increase. (The Block)
Odaily News: Hyperscale Data, Inc. (NYSE American: GPUS), an AI data center and bitcoin-related company, announced that its wholly-owned subsidiary, Gresham Worldwide, Inc., has received approximately $5.4 million in new orders for its radio frequency (RF) business during July and August 2026, primarily from U.S. defense programs and prime defense contractors.
These orders cover RF and microwave components supporting radar, electronic warfare, communications, and other mission-critical systems, and are expected to be produced and delivered by Gresham Worldwide's relevant business units. The company stated that the new orders reflect the growing demand for high-reliability RF technology and critical components in the U.S. defense sector. (PRNewswire)
Odaily News: Trader Bonk Guy stated that the market is gradually recognizing PONS's potential. He noted that PONS currently generates approximately $56 million in annualized revenue, with 80% used to buy back and burn PONS; in comparison, Pump.fun generates about $460 million in annualized revenue, with 50% used to buy back and burn PUMP, and PUMP is currently valued at approximately $2 billion.
Bonk Guy believes that even if PONS is given only 10% of PUMP's valuation, its market cap should reach about $200 million. Additionally, Pons has contributed to approximately half of the on-chain activity on Robinhood Chain, with at least 5 tokens issued via Pons having market caps exceeding $10 million and at least 20 exceeding $1 million.
Regarding recent market expectations around Robinhood listings, Bonk Guy stated that as one of the main Meme coin issuance platforms on Robinhood Chain, PONS's listing on Robinhood is "inevitable" in his view, and the current rally is not solely driven by listing expectations.
Odaily News: Bernstein predicts that as currency debasement trades gain traction, Bitcoin will hit a new all-time high of approximately $150,000 by mid-2027, and may reach a peak of around $300,000 in this cycle by 2029. The firm also maintains an Outperform rating on Strategy (MSTR), but has lowered its price target from $450 to $350, primarily due to an updated outlook on the Bitcoin market cycle and consideration of equity dilution from Strategy's accelerated share issuance.
Odaily News: Trading records show that Ansem invested $57,600 to purchase NET tokens. NetNet Capital is a DeFi protocol on the Robinhood chain, and its token NET represents reserve shares backed by at least 1 USDG in the protocol's on-chain asset portfolio. NetNet Capital accumulates productive assets such as stablecoins and stocks through various mechanisms; when the net asset value is 1.75 times the underlying treasury value, NET token stakers can earn a yield of 1.2% per day. Currently, NET is trading at approximately 11 times the treasury value, and the treasury is growing faster than the 1.2% NET issuance rate. Ansem stated that the protocol's founder has given several interviews and mentioned discussions with the Robinhood team about future collaboration; the founder was also previously involved in the NBA Topshot project.
Odaily News: The Iranian rial fell to a record low this week, with the open market exchange rate dropping to about 2.02 million rials per US dollar on Aug. 24, compared with about 1.53 million rials in the first quarter. During the same period, the US government launched "Operation Economic Outcast," adding more than 60 entities to the Treasury Department's blacklist and, for the first time, designating digital assets as a sanctionable area.
State-owned farms linked to Iran's Islamic Revolutionary Guard Corps (IRGC) control about 65% of Iran's Bitcoin mining capacity. Iranian miners have accounted for roughly 3% to 7% of global Bitcoin hashrate since 2019, with the mined Bitcoin valued at an estimated $1.35 billion to $3.15 billion at various stages.
Iran legalized Bitcoin mining in 2019, allowing licensed operators to use industrial electricity at about $0.004 per kilowatt-hour and sell mined tokens to the Central Bank of Iran. Chainalysis estimates that IRGC-linked wallets received over $3 billion in the fourth quarter of 2025; Elliptic says the Central Bank of Iran holds at least $507 million in USDT.
The US Treasury sanctioned Nobitex, Wallex, Bitpin, and Ramzinex in June. Nobitex had handled more than half of Iran's digital asset inflows; in April, the Treasury seized nearly $500 million in Iran-related crypto assets. (Bitcoin.com News)
Odaily News: CryptoQuant posted on X platform that Bitcoin's rally has paused after rising to around $80,000, indicating that long-term holders are taking profits at a relatively higher rate than short-term holders.