Bitcoin pulled back slightly overnight from yesterday’s $80K test, consolidating as whale profit-taking picked up and exchange inflows climbed to their highest level since June. The pullback brings today’s stories into sharper focus. A federal jury just handed down a fraud conviction on a scheme that used AI and crypto as cover. A major asset manager launched self-custody stock portfolios. And Zcash’s first ETF went live after one of the most dramatic security and price events of the year. Let’s dive in.
Bitcoin’s Bull Score Just Hit Its Highest Since October
CryptoQuant’s Bull Score Index jumped from 30 to 80 in a week, its highest reading since October 2025, with eight of its ten indicators now bullish. Analysts say a weekly close above $83,000 is needed to confirm a full bull market. Short-term holder whales took $1.2 billion in profits between August 20 and 22 while exchange inflows hit their highest level since June. What metric hit 20.5% and preceded a 30% BTC drop in May 2026? Read more.
Bitwise Just Let Investors Hold Stock Portfolios in Their Own Wallet
Bitwise launched Automated Token Portfolios on August 25, letting eligible non-US investors hold self-rebalancing stock portfolios covering Mag7, AI leaders, and robotics themes directly in their own wallets. The portfolios use Coinbase-tokenized stocks on Base and are automatically managed by Glider without the investor surrendering custody. Holdings can also be used in DeFi applications including lending and borrowing. Which stocks does Bitwise’s Magnificent Seven portfolio include beyond the original seven? Read more.
Grayscale’s Zcash ETF Just Went Live on the NYSE
Grayscale listed the first spot Zcash ETF on NYSE Arca on August 25 under the ticker ZCSH, converting a trust that has existed since 2017. The fund carries a 2.5% fee with revenue directed back to Zcash ecosystem development. ZEC gained approximately 45% in the days ahead of the listing, following the July Ironwood upgrade that patched a four-year-old counterfeiting vulnerability. How does Grayscale’s parent company plan to acquire ZEC through the new ETF? Read more.
LayerZero Just Unveiled a New Exchange Infrastructure Product
LayerZero announced ATLAS on August 25, a headless trading and settlement system built on its Zero blockchain that handles matching, clearing, settlement, and risk management in a single layer. It supports spot crypto, perpetuals, stocks, bonds, and prediction markets. ZRO gained more than 16% following the announcement, with 75% of net trading fees used to buy and burn the token. Which major institutions collaborated to build the Zero blockchain underlying ATLAS? Read more.
A Man Just Got Convicted for a $24M Crypto Ponzi
A federal jury convicted Brent Kovar on August 25 of running a $24 million Ponzi scheme through Profit Connect, which falsely claimed to mine crypto using AI software on a supercomputer. He promised annual returns of 15% to 30% and falsely told investors funds were FDIC insured. Kovar faces a statutory maximum of 280 years at his November sentencing. What happened to Kovar’s earlier $12M pump-and-dump scheme in 2009? Read more.
What on-chain signals historically precede a Bitcoin bull market confirmation above key moving averages?
TLDR: Historically, Bitcoin bull-market confirmation is strongest when price reclaims major moving averages alongside improving holder profitability and reduced sell-side pressure, rather than from the moving-average crossover alone.
- Bitcoin’s realized price moving above its 200-week moving average has preceded sustained multi-month rallies in prior cycles, while MVRV recovering from accumulation levels without reaching historically overheated zones supports a healthier trend.
- A rising Bull Score, growing demand, Bitcoin holding above Short-Term Holder realized price, and subdued exchange inflows have historically aligned with continuation, whereas rising exchange inflows or MVRV approaching extreme levels has warned of distribution.
Disclaimer: This alpha is provided by CryptoMx. CryptoMx can make mistakes—please DYOR. Not financial advice.
