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Ethereum rally sees little profit-taking as exchange holdings fall

Ethereum has rebounded about 27 percent, but the amount of ether held on exchanges has fallen, suggesting limited profit-taking. Exchange holdings dropped about 18 percent from 7.69 million ETH in early June to 6.28 million, with roughly 1.4 million ETH leaving exchanges for self-custody wallets and staking protocols. Outflows continued after Aug. 16 even as ETH rose to $2,528, while bitcoin exchange holdings edged up 0.25 percent. Technical resistance remains around $2,497 to $2,585, with $2,600 seen as a key level.

Crypto

Bitcoin faces test holding $80,000 as profit-taking rises and buying stays muted

Bitcoin is failing to settle above $80,000 and is showing a price pattern sensitive to selling pressure. Analysis cited by Cointelegraph says the market is not fully absorbing profit-taking by investors who have moved into gains. CryptoQuant data shows long-held coins moving on-chain and SOPR rising, pointing to more transfers in profit. U.S. buying remains muted as the Coinbase premium stays mostly negative, with ETF inflows seen as a potential source of demand.

Crypto

Bitcoin $300,000 bull case raises need to address quantum risk, Charles Edwards says

A forecast that bitcoin could rise to $300,000 by 2029 is drawing attention to the need for quantum-computing defenses. Bernstein projected bitcoin could reach $150,000 in mid-2027 and $300,000 in 2029, citing a sovereign debt crisis and institutional demand. Capriole Investments founder Charles Edwards said the scenario depends on Bitcoin Core developers adopting quantum-resistant cryptography in time. He said quantum risk is already reflected in prices and could be suppressing bitcoin by about 30 percent.