The crypto market isn’t short on drama this week: Bitcoin price plunged to $112K after brushing $118K mid-week, but analysts remain bullish with $135K–$150K targets still on the table. Ethereum price is grinding below $4K, yet chart patterns and institutional momentum point toward a potential $16.7K moonshot this cycle.
Meanwhile, the SEC unveiled “Project Crypto” to bring U.S. markets fully on-chain, eToro is tokenizing American stocks, and the Shiba Inu price tanked 50% as altcoins like TRON, XRP, and Pi Coin flash breakout potential.
From regulation to price predictions, this week’s headlines are packed with game-changing signals. Scroll down for the full crypto market news recap.
Crypto Bull Run Not Over: BTC Flag Points to Rebound as ETF Hopes and Rate Cut Bets Build
Despite a sharp pullback in altcoins, Bitcoin’s bullish flag pattern signals that the bull run isn’t over. Traders are eyeing a rebound to $123K, with catalysts like rising ETF inflows, potential SEC approvals, and growing odds of a Fed rate cut. Past market comebacks and new U.S. legislation are adding fuel to the long-term rally.
SEC Launches “Project Crypto” to Modernize U.S. Markets with On-Chain Infrastructure
The SEC unveiled “Project Crypto,” a landmark initiative to bring all U.S. financial markets on-chain. Spearheaded by Chair Paul Atkins, the plan includes clear crypto classifications, lighter rules for airdrops and ICOs, and a unified license for exchanges. With a focus on innovation and clarity, it marks a major shift away from past regulatory hostility.
Shiba Inu Sinks 50% as Hype Shifts to Bitcoin Penguins’ $2M Breakout
Shiba Inu has plunged 50% from its 2024 peak, with bearish technicals pointing to more downside. Meanwhile, investor attention is shifting to Bitcoin Penguins (BPENGU), a new meme coin that raised $2 million in just four days. As SHIB struggles below key support levels, BPENGU’s fresh appeal and BTC branding are capturing the market’s imagination.
Grayscale Taps $80T IP Market With Story Trust Launch
Grayscale has unveiled Story Trust, giving accredited investors exposure to the $80 trillion intellectual property market via the $IP token. Backing the Story network’s onchain IP infrastructure, the move bridges Wall Street with blockchain, AI, and the creator economy. With over 1.7M transactions already, Story aims to redefine digital rights in the AI-driven era.
XRP and XLM Cool Off, But August Rally Still in Play
XRP dipped to $3.05 and XLM tumbled over 23% this week, but technical setups hint at a bullish comeback. The XRP price is forming a classic cup-and-handle pattern targeting $5.17, while XLM shows a bullish flag that could send it toward $0.6765. With both tokens flashing strong continuation signals, August could mark their next big breakout.
eToro to Tokenize Top U.S. Stocks on Ethereum, Launches 24/5 Trading for Global Investors
eToro is bringing 24/5 trading to 100 popular U.S. stocks and ETFs, with plans to tokenize them as ERC20 assets on Ethereum. Investors outside the U.S. will gain instant, around-the-clock access to major equities like Apple and Nvidia, with full DeFi compatibility. The move signals a bold step toward blockchain-based, borderless financial markets.
TRON Eyes $0.45 as USDT Surge and On-Chain Strength Drive TRX Momentum
TRON (TRX) is on a breakout run, up 22% in 30 days and riding bullish momentum from a $1B USDT mint and $1B securities filing. With TRC-20 stablecoins leading crypto in volume, and TRON topping L1 fees, analysts now target $0.36–$0.45. Technicals support further upside as TRX tests key resistance near $0.342.
Pi Coin Primed for Breakout as 90-Year Wyckoff Pattern Flashes Bullish
Pi Coin has traded sideways for weeks, but technicals hint at a major move. Analysts point to the Wyckoff Theory and bullish formations like a double bottom and falling wedge. With narrowing Bollinger Bands and signs of accumulation, a breakout to $1, or even $1.60, is possible as the token shifts from consolidation to markup phase.
