After the highly expected weekend in which supporters of the bill expected some sort of an advancement, Eleanor Terrett reported that the White House has failed to respond to a key counterproposal.

The popular journalist noted a few days ago that Senator Thom Tillis and Senator Ruben Gallego had pushed for stronger ethics provisions, indicating that state attorneys general should enforce laws against federal officials.

However, she updated on Monday that the White House has failed to respond to the counterproposal after citing a source familiar with the matter.

“A deal on the CLARITY Act’s biggest outstanding issue has yet to materialize heading into the week of a potential vote,” she added.

The odds for approval of the legislation continue to decline as there’s no real progress made. Current data from Washington experts and prediction markets show that the percentage is down to 28%. It used to be at roughly 70% earlier this year.

The post Another Setback for CLARITY Act as White House Stays Silent (Flash News) appeared first on CryptoPotato.

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XRP price is down about 2% on the day, yet it just bounced roughly 4% off its August low as South Korea keeps stacking bids under the market.

The bounce is not a confirmed reversal. XRP price still trades inside a falling channel that has capped every rally since May 14, 2026. South Korea, however, is flashing an unusually tidy set of early signals.

South Korea is Buying XRP

XRP ranks third among 275 Korean won markets on Upbit by 24-hour trading volume, behind only Tether and Bitcoin. Few altcoins matter more to South Korea’s retail traders.

Rank measures attention, not direction, so the order book fills the gap. Within 1% of the market price, combined Upbit and Bithumb bids outweigh asks by roughly two to one, a gap of about 34%.

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That ratio simply compares resting buy orders against sell orders near the current price. A two-to-one skew means buyers have posted far more nearby liquidity than sellers, a sign of real demand.

Korea is also paying a small premium to the global price on Bybit, near the top of its seven-day range. The lean is bullish, though still too thin to call a full premium event.

Heavier Korean bids indicate who is buying, but momentum indicates whether selling is finally fading.

Momentum is Turning as XRP Price Stops Falling Hard

XRP price keeps making lower lows, but the selling is losing power. Since early June, price carved a marginally lower low into August while momentum made a higher low.

The Relative Strength Index (RSI), a momentum gauge that tracks how fast recent moves are running, climbed from below 20 in early June to the low 40s at the August low. That split between falling price and rising momentum is a classic bullish divergence.

Price already reacted, rebounding about 4% from its August 1 low, echoing a recent surge in dip buying.

Leverage is not driving it either. Bybit perpetual funding sits near +0.006%, only mildly positive. Funding is the fee long traders pay shorts to hold a position, and this reading is far from overheated.

If momentum is turning, the next test is whether large holders and funds agree.

Whales and ETFs Back the South Korea Signal

The turn is not standing alone. Santiment data shows the share of XRP held by the 100 million to 1 billion cohort jumped from 10.66% to 11.98% around August 1.

Those are wallets holding between 100 million and 1 billion XRP, and the move suggests large holders may have added to weak momentum, though such shifts can also reflect wallet relabeling.

Fund demand is improving too. XRP spot ETF inflows reached $14.86 million in the week ending July 31, the strongest in four weeks.

The run improved from a $7.18 million outflow to $6.78 million, then $8.15 million, then $14.86 million, matching the broader August XRP outlook.

Institutions are not flooding in, but the direction of demand has clearly changed.

Bids, momentum, and flows all point one way, leaving a single barrier on the chart.

XRP Price Levels That Decide the Reversal

Here, the setup is won or lost. XRP price needs a daily close above $1.09 to break the falling channel and confirm the shift.

A clean break opens room toward $1.16, then the July swing near $1.18, with $1.29 as the extended target. Traders can weigh those against the full XRP price forecast.

The floor matters just as much. XRP must reclaim $1.08, the 0.618 Fibonacci retracement, to keep the bounce alive.

Staying under $1.08 on a daily close would expose $1.03, then $0.95, which sits near the channel midline. South Korea’s visible bid can also vanish if those orders are pulled.

A daily close above $1.09 separates a South Korea-led XRP price reversal from another rejection back toward the channel midline.

The post The 80-Day XRP Price Downtrend Meets a Wall of Korean Bids appeared first on BeInCrypto.

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Palantir Technologies (PLTR) beat Wall Street on every headline figure in the second quarter and lifted its full-year outlook. Shares climbed more than 7% in after-hours trading on Monday.

The data analytics firm reported $1.94 billion in revenue, up 93% from a year earlier. Adjusted earnings reached 41 cents per share, above the roughly 35 cents analysts had modeled.

Palantir Earnings Beat Every Major Estimate

Revenue landed well above the $1.81 billion consensus and the company’s own guidance of about $1.80 billion. Growth also accelerated from the 85% pace set in the first quarter.

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U.S. commercial customers did most of the work. That segment rose 149% year over year to $764 million. Government revenue gained 90% to $809 million, despite Democratic scrutiny of contracts earlier this summer.

Profitability moved in step. GAAP net income reached $1.06 billion, a 55% margin, while adjusted operating margin hit 62%. The company’s Rule of 40 score, which adds revenue growth to operating margin, climbed to 155%.

Deal flow expanded alongside it. Palantir closed 220 contracts worth at least $1 million and booked a record $2.13 billion in U.S. commercial total contract value, up 153%.

Remaining deal value in the same segment reached $6.24 billion, more than double the year-ago figure. That backlog gives management visibility into 2027 revenue.

Guidance Raise Points to Sovereign AI Demand

Management now expects full-year revenue between $8.150 billion and $8.158 billion, roughly 82% growth. The previous range topped out near $7.66 billion.

Adjusted operating profit guidance moved to about $4.89 billion, comfortably ahead of the $4.51 billion analysts had penciled in. Adjusted free cash flow is now guided to $4.5 billion to $4.7 billion.

Chief Executive Alex Karp framed the quarter around what he called demand for AI sovereignty, meaning customer control over their own data and decisions rather than reliance on outside models.

“Demand for AI sovereignty has now been unleashed. And Palantir is the only company that has demonstrated it can transform tokens into actual economic value. Our customers trust us to provide them with maximal control over their operations, data, and decisions,” Alex Karp, Co-Founder and Chief Executive Officer of Palantir Technologies, in the company’s earnings release.

Palantir Stock Still Trails Its 12-Month High

Shares closed regular trading at $125.65, up 2.10%, then jumped to $135.12 after the release. Options traders had priced an 11% swing in either direction.

Even after that move, the stock sits far below its 12-month high of $207.52. Palantir entered Monday down about 31% for the year, as investors questioned AI stock valuations across the sector.

Bulls argue the spending cycle is still early, a view echoed in the debate over AI capex that has split Wall Street since June.

Palantir guided third-quarter revenue to roughly $2.16 billion. Whether the guidance raise holds the stock above $135 depends on how quickly commercial bookings convert into recognized revenue.

The post Palantir Just Crushed Wall Street by $125 Million: How Will Stock React? appeared first on BeInCrypto.

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The SHIB team and community have scorched billions of tokens in the past month.

The resurgence of the burning program has coincided with the positive performance of the self-proclaimed Dogecoin killer, whose price has jumped by 10% within that period.

Big Burn, But There’s a Catch

The X account Shibburn revealed that over 3.2 billion SHIB have been transferred to a null address in July, permanently removing them from circulation. This represents a major 1,395% increase from the June figure.

The July number may seem substantial, but its USD equivalent is less than $17,000. It’s also important to note that the major burns occurred only during a handful of days toward the end of the month, while during the remaining days there wasn’t much action on that front. On July 27, for instance, the team and community scorched almost 1.3 billion tokens, nearly 40% of the total amount.

The core purpose of SHIB’s burning mechanism is to reduce the token’s supply and make SHIB more valuable via scarcity. But with more than 585 trillion coins in circulation, the remaining amount is enormous, meaning the team and community should up their game to trigger a rally.

Meanwhile, the meme coin has posted a 10% increase over the last 30 days, potentially propelled by the rising burn rate and certain whale activity, which CryptoPotato reported on.

Happy Birthday, Shiba Inu

On August 1, the meme coin project celebrated its sixth anniversary. The SHIB Army expected an ecosystem update or a major announcement on that day, but instead the team simply outlined the rise from “zero to a global movement” and said that “the experiment continues.”

Many X users congratulated Shiba Inu for its birthday, yet others voiced clear disappointment over the lack of meaningful progress lately, as well as the massive price collapse the native token has suffered over the past years.

The post Shiba Inu Turns 6: Here’s How Many SHIB Tokens Were Burned in July appeared first on CryptoPotato.

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Crypto has not been this cheap relative to its long-term trend since 2010, according to Benjamin Cowen. Still, the Into The Cryptoverse founder warns that the bottom is not in yet.

Cowen, a member of BeInCrypto’s Markets Intelligence Council, expects one more leg down in the third quarter. He points to midterm-year seasonality and rising bond yields as the likely triggers.

Crypto is 62% Below Fair Value, the Cheapest Since 2010

In two new videos, Cowen measured the total crypto market cap against his logarithmic regression trendline. The gap has never been wider in the asset class’s tradable history.

The total market cap stood at $2.152 trillion on July 31. Meanwhile, the model’s fair value sat at $5.737 trillion, leaving crypto 62.49% undervalued.

The market now trades at 37.52% of fair value. The only lower reading came on September 20, 2010, at 32.72%.

“We have been lower before all the way back when crypto first launched. Actually, it was the only time that it’s been lower than it is right now,” Cowen said.

Because fair value keeps rising over time, Cowen argued the discount could deepen even if prices move sideways. Recent Coldcard hacks and fading retail interest add to the pressure, he noted.

Bitcoin’s Window of Weakness Opens Within Weeks

The undervaluation signal clashes with seasonality. Bitcoin (BTC) gained 10.42% in July, and Cowen sees the relief rally ending soon.

“If history is any indication, the next window of weakness… is going to start sometime in the next two to three weeks,” he warned.

The pattern is consistent across midterm years. August and September turned red in 2014, 2018, and 2022, and they remain the only months with negative average returns. Historically, weakness arrived in early August 2018 and mid-August 2022.

BTC trades near $62,648, down 45% over the past year and 27% year-to-date. It’s 2026 path tracks between the 2018 and 2022 trajectories, which both rolled over in August. On-chain models point to a similar final bear leg.

Cowen also flagged a macro trigger. A similar yield move preceded Bitcoin’s decline from July 2023, and the Fed faces its most divided decision in years.

“The bond market is starting to revolt. The Fed’s not raising rates,” he said.

Benjamin Cowen Sees Crypto Bottom Near November

Despite the near-term caution, Cowen’s cycle framework suggests the end is close. Measured low to low, this bear market would match prior ones in just a few months.

“I’m hoping that by around November or so, we’ll be either at a market cycle bottom already or it’ll be relatively close to being in,” he said.

Long-term holder data from Fidelity also approaches past-cycle bottom levels. Rather than timing the exact low, Cowen favors a systematic approach.

“I would encourage people, not financial advice, but normally a DCA strategy is going to work best rather than trying to time the exact bottom,” he added.

Dollar-cost averaging, or DCA, spreads purchases over time to smooth out volatility. Beyond the cycle, Cowen maintained his call that the asset class could eventually reach $10 trillion, plus or minus a few trillion.

However, his thesis carries a clear caveat. If the four-year cycle stretches as it did in 2022, the recovery could slip toward 2027, and the bear market resistance band may stay out of reach until then.

The post Benjamin Cowen: Crypto Hasn’t Been This Cheap Since 2010, But It Might Drop Lower appeared first on BeInCrypto.

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The primary cryptocurrency has experienced another pullback over the past few days.

Potential reasons for the negative performance include the Coldcard exploit, waning institutional interest, and Strategy’s latest sell-off. Here’s everything you need to know.

The Coldcard Drama

Last week, Coinkite, the company behind the Colcard hardware wallet, warned users that their Bitcoin funds could be at risk if their seed phrase was generated on certain affected firmware versions. This alert came shortly after reports that almost $40 million worth of BTC had been drained from such devices.

The attacks continued with two more waves, and at one point the total amount of embezzled coins reached 1,367.05 (equaling around $88.6 million). Alex Thorn (head of firmwide research at Galaxy Digital) spotted a fourth organized wave, saying:

“These are likely Coldcard victims – they match the shape of Coldcard vulnerable UTXOs, and the elevated transaction pattern gives me high confidence they are another wave of attacks.”

He also advised all users to move their funds off their wallets as soon as possible. Somewhat expected, the exploit affected market mood, with Santiment saying it pushed Bitcoin’s positive-to-negative commentary ratio on X, Reddit, Telegram, and other platforms to its lowest level since its modern social tracking began.

The ETF Front

Unlike June, which emerged as the worst month for spot BTC ETFs, July started on the right foot and attracted nearly $200 million in net inflows during the full first week.

Interest faded toward the middle of the month, but it picked up again. In fact, there were seven consecutive green days between July 14 and July 22, something unseen since April. Since then, though, outflows have dominated, while SoSoValue has not yet presented data on how August has kicked off.

Investing in spot BTC ETFs is generally favored by more conservative players, such as pension funds and hedge funds, who seek regulated exposure and would rather skip steps like managing private keys themselves. Some of the financial giants that have introduced such products over the years include BlackRock, Fidelity, Bitwise, Franklin Templeton, and many others.

Strategy Sold Again

Just a few hours ago, Michael Saylor (co-founder and Executive Chairman of Strategy) revealed that the entity has increased its USD Reserve by $250 million and repurchased $81 million of STRC shares.

At first glance, that was it, yet a closer look at the announcement showed that the company has also sold 1,637 BTC for approximately $105 million between July 27 and August 2. After all, its total stash stood at 843,775 coins, while the current number is 842,138 units.

BTC Price Outlook

The aforementioned news has been among the main factors suppressing BTC’s valuation over the past few days. As of this writing, it trades at around $63,600 (per CoinGecko), translating into a 1% weekly decline.

Meanwhile, August can cause even more pain to the bulls. The month has historically been a poor period for the cryptocurrency, with the price ending in red territory 9 out of 13 times.

The post Bitcoin (BTC) News Today: August 3 appeared first on CryptoPotato.

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