Fate of crypto, CBDC bills unclear as US Congress heads into recess

A prominent crypto CEO has publicly backtracked on their earlier bearish prediction about Bitcoin, declaring that the so-called "cycle theory" (a popular framework for predicting price trends) no longer holds water. This comes as Bitcoin drops about 6% from its recent peak of $123,000, shaking up trader sentiment and reigniting debates about whether this is just a normal correction or something more concerning.

Editor’s Note: Bitcoin's recent dip isn’t catastrophic by historical standards, but it’s enough to rattle confidence—especially when high-profile figures admit they misread the market. For investors, it’s a reminder that crypto remains volatile, and even the experts often get it wrong. The bigger question now is whether this pullback is a blip or a sign of deeper uncertainty ahead.

Bitcoin just took a wild ride, plunging below $115,000 after a sharp drop wiped out $140 million in leveraged long positions. Traders betting on a continued rally got caught off guard as the market reversed hard—classic crypto volatility in action.

Editor’s Note: If you’ve been watching crypto lately, you know these sudden swings aren’t unusual, but they still sting. This kind of move shakes confidence and reminds everyone how risky leveraged trading can be—especially when the market turns on a dime. For everyday investors, it’s another heads-up to buckle up (or maybe just hold tight).

The IMF just shut down rumors that El Salvador is doubling down on Bitcoin. Turns out, the country isn’t buying more—it’s just moving coins between its own wallets. Recent spikes in the government’s Bitcoin reserve? Just internal accounting shifts, not fresh purchases.

Editor’s Note: This matters because El Salvador’s Bitcoin experiment is under a microscope. Every move sparks speculation about its financial stability and whether other countries might follow suit. The IMF’s clarification keeps the focus on facts, not hype—but it also highlights how opaque crypto dealings can look from the outside. For crypto watchers, it’s a reminder: not every wallet shuffle is a market signal.

Bitwise, a major crypto asset manager, is suggesting that Ethereum might be headed for a "demand shock"—a sudden surge in buying pressure. Their analysis points to factors like growing institutional interest and potential supply constraints. If they're right, this could push Ethereum's price up significantly. But as always in crypto, nothing's guaranteed—market sentiment can shift fast.

Editor’s Note: Ethereum isn't just another altcoin—it's the backbone of DeFi, NFTs, and smart contracts. If big players are betting on a supply crunch, it could ripple across the entire crypto ecosystem. For investors, this is either an exciting opportunity or a reason to buckle up for volatility. Either way, it's a story worth watching.

Grok, the AI chatbot on X (formerly Twitter), might be known for memes, but it's also gaining a reputation for spotting crypto trends early. This month, it highlighted three presale tokens with high growth potential—suggesting they could be the next big thing in the volatile crypto market.

Editor’s Note: Crypto investors are always hunting for the next breakout opportunity, and Grok’s integration into X—a hub for crypto chatter—gives its picks unusual visibility. If the AI’s track record holds, these tokens could see serious momentum, making this worth a look for traders chasing high-risk, high-reward plays. Just don’t bet the farm—crypto presales are notoriously unpredictable.