Bitcoin News Today: Bitcoin and Ethereum Post Modest Gains Amid Mixed On-Chain Signals

The cryptocurrency market posted a slight gain over the past 24 hours, with Bitcoin (BTC) and several major altcoins trading in positive territory. Despite the overall upward movement, Bitcoin struggled to maintain momentum and is currently trading around $114,560 after briefly reaching $115,694 intraday [1]. Analysts have noted that the $109,000 level could become a new price target if bulls fail to sustain current price levels, while others suggest previous all-time highs might serve as a stable support [2].

Ethereum (ETH) led the recovery, gaining nearly 2% to trade at $3,690. The asset has shown resilience in reclaiming the $3,600 level, with on-chain metrics indicating a rise in transaction activity [1]. ETH has also seen nearly 30% growth over the past month, although selling pressure has pushed the coin lower by 5% in the last week [1]. Meanwhile, Solana (SOL) is on the verge of reclaiming the $170 mark, having surged over 3% recently. Institutional interest in SOL is growing, with firms like Bit Mining, Upexi, and DeFi Development Corp increasing their holdings [1].

Cosmos (ATOM) and Filecoin (FIL) have also shown signs of recovery. ATOM rose nearly 1.44%, trading at $4.39, after falling to a low of $4.03 earlier in the week [1]. FIL is currently up nearly 3%, trading around $2.43, following a sharp decline to $2.23 on Friday [1]. Both assets remain underpinned by on-chain buying activity, which has helped stabilize their price movements.

Beyond price movements, the crypto space witnessed notable developments. Japan’s SBI Holdings filed applications for Ripple (XRP) and Bitcoin (BTC) ETFs, potentially positioning the country ahead of the US in regulatory approvals [1]. Separately, Parataxis Holdings confirmed a SPAC merger with SilverBox Corp IV, raising $640 million to create a publicly traded Bitcoin treasury company [1]. This merger is expected to bolster institutional exposure to Bitcoin and expand the firm’s presence in key markets.

However, the market was not without risks. A cryptocurrency investor reportedly lost $3 million in a phishing scam after signing a malicious transaction, highlighting the ongoing threat of social engineering attacks [1]. In another case, a $71 million wallet poisoning scam in May 2024 saw the hacker return the funds after community pressure revealed potential IP addresses [1]. These incidents underscore the growing importance of user education and wallet security in the crypto ecosystem.

Legal challenges also persisted. Tornado Cash co-founder Roman Storm was found guilty of conspiracy to run an unlicensed money business, with the jury unable to reach a consensus on additional charges [1]. The verdict reflects heightened regulatory scrutiny over decentralized finance tools and their potential misuse.

Overall, the market appears to be in a state of consolidation, with Bitcoin and Ethereum showing mixed signals. On-chain analytics suggest a relatively balanced market, with 70% of Bitcoin Short-Term Holders (STH) in profit and limited distribution from the $118,000–$120,000 range [1]. While the immediate outlook remains uncertain, key price levels and institutional buying activity may offer clues about future direction.

[1] Source: [1]Crypto Price Analysis 8-7: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, COSMOS: ATOM, FILECOIN: FIL (https://cryptodaily.co.uk/2025/08/crypto-price-analysis-8-7-bitcoin-btc-ethereum-eth-solana-sol-cosmos-atom-filecoin-fil)