- Sebastjan Bele
- Updated: August 28, 2025
- Reading time: 6 min
Powell Hints Rate Cuts, Trump Media Partners Up With Crypto.com & Metaplanet Announces New Raise
SEC Chairman Jerome Powell hinted at potential rate cuts on Friday, sparking a rally in crypto. Bitcoin jumped to $117,000, while Ethereum reached a new all-time high. Since then, both have pulled back, with BTC now trading at $113,000 and ETH at $4,500.
On the institutional front, Metaplanet announced plans to raise $880 million via a share offering to fund additional Bitcoin purchases. In a high-profile move, Trump Media is partnering with Crypto.com to establish a CRO Strategy as part of a $6.42 billion deal. Meanwhile, Donald Trump Jr. has invested in Polymarket and joined the company’s advisory board. Finally, Ark Invest acquired $15.6 million in BitMine shares following a drop in the company’s stock price.
News
- Nvidia shares edge lower after earnings beat, cryptocurrencies little changed
- Trump Media, Cryptocom’s CRO token, and treasury funding
- Metaplanet to raise $880M via share offering for fresh Bitcoin purchases
- Bitcoin whale sends 750 BTC ($83M) to Binance, originally bought at $122 each
- Donald Trump Jr. invests in Polymarket and joins advisory board
- Ark Invest backs Bitmine
- Google Cloud expands blockchain services with GCUL
- Bitcoin downside risk as perp leverage hits two-year high, Ethereum rotation surges
- U.S. economic data sparks on-chain moves, Lutnick comments
- Aave Labs launches Horizon stablecoin borrowing platform with tokenized RWAs
Table of Contents
Markets
Best Performers
This week’s modest gains were led by Cronos (CRO), which surged 138.99% after news of Trump Media’s investment, lifting the token to $0.34 with daily trading volumes topping $2.31B.
Jito (JTO) climbed 20.64% as VanEck filed to push liquid staking into ETFs through its JitoSOL product, spotlighting Solana’s expanding staking ecosystem. Raydium (RAY) advanced 19.41% following a $196.3M token repurchase, reflecting strong confidence in Solana DeFi and pushing its market cap past $1.05B.
Hyperliquid (HYPE) added 16.64%, sustaining momentum as interest in on-chain derivatives and DEX trading deepens. Rounding out the list, Solana (SOL) gained 15.38%, trading above $215 as ecosystem activity remains elevated and capital inflows continue to support network growth.
Sector Performance
After Friday’s pump and Tuesday’s retrace, sectors have been steadily climbing. Layer 1s (L1s) are leading with over 4.o% gains week-to-week. Layer 2s (L2s) show a sharp uptrend, with DeFi and gaming also making modest gains, while meme and AI sectors are down on the week.
US Spot ETF Balances
US Bitcoin Spot ETFs
Total Assets Under Management (AUM) = $143.41 billion
US Ethereum Spot ETFs
Total Assets Under Management (AUM) = $23.97 billion
*The data for BTC / ETH ETFs can vary, so we use Coinglass as our source.
Market Commentary
BTC broke down from the $120K–$117K range, with $117K flipping into resistance. The level was tested on Powell rumors about possible rate cuts, but BTC failed to break through and got rejected. Price briefly dipped below $110K before rebounding, and is now trading around $113K.
Positioning here is tricky. The key levels to watch are:
- a reclaim of $117K, which would open the way to new ATHs
- a retest of the $105K range high, offering a potential long entry if support holds.
Ethereum reached new ATHs on Sunday but failed to reclaim the previous ATH, which was the key expectation. Price action still looks healthy on lower timeframes, and with institutional demand increasing, ETH appears better positioned than BTC for another leg higher.
From a positioning standpoint, the key scenarios are:
- break the ATH and play the breakout (higher risk)
- wait for a clean break and retest of the old ATH to position (safer)
- another rejection at ATH, sending ETH back toward the $3,900 range high (bearish scenario)
Bitcoin dominance continues to slide, now at 57.5%, with some voices calling for the start of alt season.
Traditional markets moved higher last week:
- S&P 500 up 1.50%
- NASDAQ up 1.81%
- Gold up 1.85%
The total crypto market cap stands at $3.92T, while the Fear & Greed Index sits at 48 (Neutral).
What’s Next?
Digital asset investment products recorded their largest outflows since March, totaling $1.43B. Ethereum staged a sharp mid-week recovery, limiting redemptions to $440M versus Bitcoin’s $1B. Month-to-date flows now show +$2.5B into ETH against –$1B out of BTC, highlighting a clear rotation toward Ethereum.
Institutional sentiment is leaning the same way. Standard Chartered has set a $7,500 year-end target for ETH, arguing treasuries favor ETH over BTC. Meanwhile, Nvidia’s earnings report this Wednesday will test Wall Street’s conviction in the AI boom.
For Bitcoin, new investors capitulated at a loss, while long-term holders absorbed supply — a healthy clearing of leverage rather than systemic weakness. BTC remains range-bound with $110K as support and $121K as resistance.
On-chain signals show BTC long-term holders have already realized more profit this cycle than in all but one prior run (2016–17), increasing sell-side pressure. ETH, meanwhile, hit a new ATH, pushing its MVRV ratio to 2.15, meaning the average investor holds more than double unrealized gains — consistent with a late-cycle phase.
Polymarket now assigns a 78% probability of a 25 bps Fed rate cut in September, but the real question is whether the Fed will continue easing into the end of the year.
Meme of the Week
We hope you enjoyed this week’s edition of Diary of a Market Maker! Stay tuned for more insights, updates, and market-moving highlights as we continue to keep you informed and entertained in the ever-evolving world of crypto.
In the meantime, follow us on LinkedIn and X (Twitter) for real-time updates and more!
Until next time, happy trading and stay ahead of the curve!
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial, investment, or other professional advice. All opinions expressed herein are solely those of the author and do not represent the views or opinions of any entity with which the author may be associated. Investing in financial markets involves risk, including the potential loss of principal. Readers should perform their own research and consult with a licensed financial advisor before making any investment decisions. Past performance is not indicative of future results.
Jakob Brezigar
Jakob, an experienced specialist in the field of cryptocurrency market making, boasts an extensive international presence. With Orcabay, he has skillfully managed major operations and deals for a wide array of global stakeholders.
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