Coindesk

By Francisco Rodrigues (All times ET unless indicated otherwise)The wind seems to be coming out of the crypto market's sails. Bitcoin (BTC) fell 3% in the past 24 hours, dropping below $115,000, and it's actually one of the better performing of the largest cryptocurrencies.The CoinDesk 20 (CD20) index, a measure of the broader market, fell 6% with ether (ETH) down 5.7% after posting its strongest monthly gain in three years and XRP (XRP) losing more than 7%.The drop comes as some of President Donald Trump’s tariffs started taking effect with more due to kick in on Aug. 7. The levies range from 10% to 41% on imports from key trading partners including Canada, the European Union and Japan.That sent Asian...

It's become more expensive to use derivatives to insure against a decline in ether (ETH) than in bitcoin (BTC), indicating that market sentiment has shifted against the second-largest cryptocurrency by market cap, data from Deribit shows.The sentiment shift comes after weeks of big money favoring ether over its larger peer.According to data from Amberdata, ether's 25-delta risk reversals for options expiring in August and September were trading at -2% to -7%. That means put options, which provide protection against drops in price, carry a 2% to 7% premium over call options, reflecting an apparent concern about a potential downside risk.In comparison, bitcoin's short-term put options traded at 1%-2.5% premium to calls, suggesting relatively restrained downside fears.A put option gives the...

Major cryptocurrencies experienced two-way price action early Friday, as the dollar remained bid against major fiat currencies following President Donald Trump's announcement of new tariffs.Bitcoin (BTC) fell to $114,290, nearly testing the bullish trendline drawn off April and June lows, but has since recovered to trade near $115,900, according to CoinDesk data. Ether (ETH), the second-largest token by market value, mimicked BTC's price action, erased the early drop to $3,616 to trade near $3,690.The early jitters likely stemmed from Trump's wide-ranging tariffs and the continued rise in the dollar index (DXY) to above 100, the highest since late May. The DXY, which tracks the value of the greenback against major fiat currencies, has gained over 3% in four weeks, hinting...

What to KnowDOGE dropped 8% from $0.22 to $0.21 between 03:00 on July 31 and 02:00 on August 1, marking one of the steepest daily declines this month. The price action unfolded within a wide $0.03 range—between a peak of $0.23 and a low of $0.20—amid heavy resistance at the upper bound and capitulation near the session close.Volumes spiked sharply during the final hours of the session, particularly at midnight, where trading surged to 1.25 billion DOGE—well above the 24-hour average of 365 million. The move suggests heightened liquidation activity, likely triggering cascading sell orders across leveraged positions.News Background• DOGE fell 8% over 24 hours as volume surged to 1.25 billion during overnight trading.• Resistance at $0.23 held firm despite...

What to KnowXRP declined 8% over the past 24 hours, falling from a session high of $3.17 to a low of $2.94, as intense sell pressure overwhelmed initial strength. The sharpest drop occurred during the midnight trading window on August 1, when XRP fell 2.7% in a single hour, accompanied by 259.21 million units in volume—nearly 4x its 24-hour average.Despite the downtrend, accumulation signals surfaced during the recovery phase, as XRP rebounded to $2.98. Volume diminished after the initial volatility, suggesting that institutional buyers stepped in to absorb excess supply near key support zones.News BackgroundWhale activity surrounding XRP continues to deliver mixed signals. On one hand, large holders have liquidated roughly $28 million worth of XRP daily over a trailing...