00:00The cryptocurrency market saw a sharp pullback between August 18th and 20th after hitting record
00:04ties just last week. Total market capitalization slipped back under $4 trillion, with over $500
00:09million in long liquidations triggered by volatility. Bitcoin led the decline, dropping
00:14from $124,000 to as low as $113,000, a 7.5% fall. Analysts linked the move to macro pressures and
00:21liquidation scales. Still, bargain hunters stepped in. MetaPlanet, for example, added $775 Bitcoin,
00:29bringing its total holdings close to $19,000. Ethereum also pulled back, sliding under $4,200.
00:35Yet, decentralized finance showed resilience. Chainlink surged over 14% on new partnerships.
00:41And despite daily outflows, Ethereum exchange-traded funds recorded a record $2.9 billion in weekly
00:47inflows. XRP slipped under $3 after Wales sold nearly half a billion tokens. Solana traded near
00:53192, while BNB stayed above $830. Overall, the market lost $120 billion on August 20th alone.
01:00On the regulatory front, SEC Chair Paul Lackin stated that very few tokens of securities hinting
01:05at greater clarity for the industry. The US Federal Reserve ended a program scrutinizing bank crypto
01:10ties, while New York proposed the crypto tax projected to raise $158 million per year.
01:15Internationally, Thailand launched a digital asset payments pilot for tourism, Japan and South Korea
01:20advanced stablecoin plans, and Wyoming unveiled the Visa-supported token across seven blockchains.
01:25Institutional momentum remained strong. Gemini filed for an IPO following bullish's successful debut.
01:31Circle Insiders sold shares after a 349% surge. Corporate Treasuries also stayed active,
01:37with Cardone Capital targeting $4,000 Bitcoin by year-end, and VCI Global announcing a $2 billion
01:42tokenization deal. Looking ahead, analysts see Bitcoin potentially climbing back to $130,000 by
01:48the end of August, and even $200,000 within six months, if institutional demand continues. Ethereum
01:54remains volatile below $4,200, but scalability upgrades strengthen its long-term outlook. In short,
01:59the recent downturn reflects short-term macro-pressure and profit-taking, not a collapse in fundamentals.
02:04With institutional inflows at record levels, many analysts still believe this bull market has plenty of
02:09fewer left.
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