Germany widened its lead in the number of providers licensed under the European Union’s Markets in Crypto-Assets Regulation (MiCA), with six of its cooperative banks added in the latest register update.

The European Securities and Markets Authority (ESMA) updated its MiCA register on Friday, bringing the number of authorized crypto asset service providers (CASPs) to 331.

Compared with an update from Aug. 12, the six additions were all German cooperative banks: Raiffeisenbank Aidlingen, Ihre Volksbank, VR-Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried-Überwald and Volksbank Backnang.

Germany now accounts for 79 CASPs, ahead of France with 35 and the Netherlands with 29. Germany’s total has grown from 57 in late June, when the country already led MiCA authorizations, according to ESMA data previously reviewed by Cointelegraph.

Germany’s Federal Financial Supervisory Authority (BaFin) told Cointelegraph in June that the country’s high number of MiCA authorizations partly reflects its large financial sector and the number of credit institutions eligible to offer crypto services. BaFin also pointed to Germany’s pre-existing national licensing regime, which gave some CASPs access to simplified authorization procedures during the transition to MiCA.

ESMA’s asset-referenced token (ART), electronic money token (EMT) and non-compliant entity datasets were unchanged. The ART register remained empty, the EMT register held 43 entries, and the non-compliant entity list remained at 167.

Related: Bitpanda fined in Austria’s first published MiCA penalty

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Key takeaways

• The Pi Core Team introduced Protocol 27 on the Pi Testnet, enabling preparations for advanced smart contract authentication.
• A mainnet upgrade to Protocol 27 is scheduled for September 15.
• PI faces resistance at $0.1022, with a breakout potentially opening a move toward $0.1204.

Pi Network is trading lower on Monday following a gain of more than 6% last week, with its price hovering around $0.0880.

The cryptocurrency remains above the $0.0800 level but continues to face resistance below $0.1000.

Despite the recent advance, momentum indicators suggest that PI has not yet developed sufficient buying pressure to sustain a breakout.

The mixed technical outlook comes as developers prepare a network upgrade that could introduce additional authentication capabilities for applications and transactions.

Pi Core team introduces protocol 27 on testnet

The Pi Core Team announced Saturday that it had released Protocol 27 on the Pi Testnet. Pi Network is built on the Stellar Consensus Protocol, and the update incorporates the latest Stellar network protocol into its testing environment.

According to the Pi Core Team’s announcement, Protocol 27 will support new smart contract authentication capabilities.

The upgrade is intended to provide more advanced methods for applications and users to authenticate transactions.

Introducing the protocol on the testnet allows developers to evaluate its functionality before deployment on Pi Network’s mainnet.

The Pi Core Team is targeting September 15 for the mainnet rollout of Protocol 27. Once activated, the upgrade could expand the authentication options available to applications operating on the network.

The update represents a potential technical catalyst for PI, although its immediate effect on the token’s price remains uncertain.

Market participants are likely to monitor progress toward the September deadline alongside broader cryptocurrency market conditions.

PI remains trapped below the $0.1022 resistance

Pi Network is consolidating between technical levels associated with its previous decline from $0.1341 to $0.0703.

Immediate support sits near $0.0853, while the main upside barrier is located at $0.1022.

The $0.1000 psychological level also remains an important threshold for buyers. A confirmed breakout above $0.1022 would signal improving momentum and could open the path toward the next major resistance level at $0.1204.

However, PI remains below these levels, suggesting that buyers have yet to establish control.

The daily Moving Average Convergence Divergence indicator remains slightly positive and above its signal line.

This suggests that some underlying buying demand is still present, although the signal is not strong enough to confirm a sustained rally.

Meanwhile, the Relative Strength Index stands near 48, indicating broadly neutral market conditions.

An RSI reading near 50 typically suggests that neither buyers nor sellers have a clear advantage.

Together, these indicators support the possibility that PI will continue consolidating until a stronger catalyst pushes the price beyond its current range.

The first significant support level for PI is $0.0853. A break below this area could expose the rising trendline near $0.0785.

If selling pressure intensifies, the token could revisit its previous swing low at $0.0703.

For now, PI’s near-term direction depends on whether buyers can defend the $0.0853 support area and build sufficient momentum to challenge resistance near $0.1000 and $0.1022.

Bitcoin (BTC) broke out of its recent slump last week, reclaiming key levels after getting a substantial boost from the bond market and developments in Washington. Gold benefited from similar conditions, rising above $4,600 on Friday as investor interest returned.

BTC is trading around $77,184, up nearly 22% over the past seven days, while gold rose about 5% in the same period, marking a third consecutive weekly gain, and reaching a three-month high.

Bitcoin And Gold Get Major Lift

Bitcoin (BTC) broke out of its trading range last week, surging nearly 22% as a massive short squeeze, institutional interest in Bitcoin ETFs, and the US Treasury’s announcement that it would double its bond-buy operations from $2 billion to $4 billion. The short squeeze hit traders who bet against BTC, triggering a wave of liquidations that propelled the price higher. Spot Bitcoin ETFs saw renewed momentum and registered their strongest week in 10 months, recording $1.92 billion in net inflows, according to CoinGlass data. The US Treasury’s announcement lowered 30-year bond yields, which hit 5.34% prior to the decision, the highest since 2007. A renewed political push to pass the CLARITY Act has also buoyed investor sentiment.

On the other hand, gold crossed $5,300 in January but fell toward $4,000 by June as investors pivoted to interest-bearing investments thanks to rising interest rates. The bullion is back above $4,600, recording a third consecutive weekly gain, and is currently trading around $4,650, according to Investing.com.

Crypto Gets A Policy Boost

President Trump’s meeting with top crypto industry executives and subsequent calls on Congress to pass the CLARITY Act increased optimism about greater regulatory clarity, helping boost investor sentiment. Commodity Futures Trading Commission (CFTC) Chair Mike Selig added that he would “use every tool available” to advance President Trump’s crypto agenda. The CFTC is meeting on Thursday to explore whether it can use its existing authority to ease crypto rules. The United States Securities and Exchange Commission (SEC) has already announced the implementation of the “Regulation Crypto Assets” framework. The framework introduces tailored exemptions and a provisional safe harbor, preventing specific crypto assets from being classified as securities.

Bitcoin Short Squeeze Another Catalyst

Bitcoin (BTC) registered one of its strongest rallies in recent memory last week, reclaiming key levels after trading in the $62,000 and $67,000 range for nearly two months. Short traders seized the moment, placing bets against a rally. However, the US Treasury’s announcement fueled BTC’s surge past the $70,000 mark, triggering a wave of liquidations as traders closed their short positions. This added more fuel to the rally, with over $4 billion in short positions liquidated by Friday, according to CoinGlass data.

BTC started the previous week in positive territory, rising 2.62% on Monday and closing at $64,484. The price registered a marginal increase on Tuesday before rallying more than 7% on Wednesday and closing at $69,300. Upward momentum persisted on Thursday as BTC crossed $70,000 and settled at $73,011, up 5.36%. Bullish sentiment intensified on Friday as the price rallied more than 7%, reaching an intraday high of $79,500 before settling at $78,325. Despite the overwhelming positive sentiment, BTC could not cross $80,000 and lost momentum over the weekend.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

EUR/USD has regained ground in recent sessions, with the pair trading near 1.17 as broad-based weakness in the US dollar continues to dominate the foreign-exchange market. The main driver remains the changing monetary-policy outlook, with investors focused on whether the Federal Reserve can maintain a restrictive stance while the US economy shows signs of slowing.

The dollar faces a key test this week as Fed Chair Kevin Warsh prepares to deliver his first speech at Jackson Hole on Friday. Persistent inflation and rising long-term Treasury yields could encourage a hawkish tone, particularly if Warsh signals that rate cuts in September are far from guaranteed. Conversely, weaker US growth or softer inflation data would reinforce expectations of easier monetary policy and could extend the dollar’s decline.

In Europe, euro-area inflation rose to 2.9% in July, keeping price pressures above the ECB’s 2% target. The ECB has kept interest rates unchanged since June, but higher energy prices and renewed inflation risks could limit the scope for further easing.

With EUR/USD trading near multi-month highs, the Jackson Hole symposium and upcoming US PCE inflation data could determine whether the euro can extend its advance or whether a hawkish Fed response triggers a renewed recovery in the dollar.

Technical Analysis of EUR/USD

As the daily EUR/USD chart shows, the pair has broken decisively above the descending trendline that had capped price action since the February highs, marking a significant shift in the medium-term structure.

The pair is now trading around 1.1665, comfortably above both the 100-period EMA at 1.1546 and the 0.382 Fibonacci retracement at 1.1579. The breakout has also lifted EUR/USD away from the 1.1537–1.1495 support area, leaving the 1.1714 Fibonacci resistance level as the next major test.

Bullish Scenario

If buyers can maintain control above the 1.1579 Fibonacci level and the 100-period EMA, the bullish structure remains intact.

A break above 1.1714 would open the way towards the 1.1775–1.1800 resistance zone, where previous price action has repeatedly stalled. A sustained move above this area would strengthen the case for a broader recovery and suggest that the longer-term downtrend may have been decisively reversed.

Bearish Scenario

Conversely, a rejection at 1.1714 followed by a break below 1.1579 would weaken the current setup and expose the 100-period EMA around 1.1546, which is closely aligned with the 0.5 Fibonacci level at 1.1537.

A deeper decline through this confluence would bring the 0.618 retracement at 1.1495 into focus, followed by 1.1435 and the 0.786 Fibonacci level as the next downside references.

With EUR/USD testing major Fibonacci resistance after breaking above its descending trendline, the key question is whether buyers can turn the breakout into a sustained advance towards 1.1800, or whether resistance will once again send the pair back towards its key support zone.

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