Portofino Mint - 4 August 2025

🚀 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗣𝗼𝗿𝘁𝗼𝗳𝗶𝗻𝗼 𝗠𝗶𝗻𝘁!

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🧭 Week in Review

Bitcoin held firm around $118k this week after last week’s historic high, consolidating amid macro headwinds, ETF outflows, and growing altcoin action. While bullish structural patterns remain intact, traders are watching closely for new catalysts — especially as macro jitters return, geopolitical risk flares, and ETF inflows stall.
The White House is preparing to unveil its first Digital Asset Report, reportedly exploring the creation of a Strategic Bitcoin Reserve, while the SEC officially launched “Project Crypto”, a sweeping on-chain modernization plan for U.S. markets. Institutions and tradfi continue to dive in: PayPal rolled out “Pay with Crypto,” Coinbase integrated with Samsung Pay, JPMorgan enabled direct wallet access for Chase users, and eToro began tokenizing U.S. stocks as ERC20s on Ethereum.
From price action to policy, this week had it all.

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📊 𝗔𝘁 𝗮 𝗚𝗹𝗮𝗻𝗰𝗲 (𝟳-𝗗𝗮𝘆 𝗖𝗵𝗮𝗻𝗴𝗲: 29 Jul–4 Aug 𝟮𝟬𝟮𝟱)  

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📉 Technicals & Macro

July closed out with global equities logging their fourth consecutive monthly gain, but cracks are showing. The S&P 500 faded each day last week despite a solid earnings backdrop. Tariffs were mentioned in 90% of Q2 calls, while high-beta names — especially meme stocks — ripped higher. Seasonality suggests a softer August-September stretch ahead.
Bitcoin was no exception to the chop. After shrugging off a record 80K BTC government sale last week and tagging $120K, Trump’s escalation of geopolitical tensions with Russia (cutting the ceasefire deadline to 10 days and deploying nuclear subs) sparked a risk-off cascade. Crude jumped, equities reversed, and BTC retreated to $112K before stabilizing at $114K.
📉 BTC ETF flows turned negative for the first time in weeks — a signal that the bull rally is pausing for breath. Until ETF demand returns, BTC likely chops lower or consolidates, barring new macro or regulatory catalysts.

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🔭 What to Watch (Aug 4–8)

A high-volatility week lies ahead across macro:
OPEC+ (Sunday): Expected to finalize output restoration plans. Traders watching for clues on supply discipline amid oil price spikes.
ISM Services PMI (Tuesday): A strong print may stoke stagflation concerns.
China trade data (Thursday): Slowing import/export growth could hit global risk appetite.
BoE rate decision (Thursday): A likely 25bps cut, but watch for guidance on gilt sales and September outlook.
New Zealand & U.S. jobs data: Weaker labor prints may support dovish pivots.

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🚀 Top Headlines & Token Moves

🔵 Bitcoin

BTC broke to $120K, then pulled back to $112K as ETF inflows slowed and macro tension grew.
Still holding a bull flag structure, with long-term targets as high as $135K–$150K if momentum returns.

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🟣 Ethereum

ETH grinding near $4K, but BlackRock’s ETF saw a record $300M daily inflow, helping keep bullish sentiment alive.
Some analysts now eye a long-cycle target of $16.7K.

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🟢 Altcoin Standouts

- Avalanche (AVAX) surged 42% as DeFi TVL nears $3B. A break above $27 could lead to $36.
- TRON (TRX) gained on-chain strength, eyeing a breakout toward $0.45.
- XRP traded around $3.28 with a bullish cup-and-handle formation targeting $5.20. BlackRock reportedly eyeing a spot XRP ETF.
- Pepe Coin (PEPE) jumped 77% on bullish technicals and whale activity.
- Quant (QNT) broke key resistance and eyes a move to $245.
- Jasmy (JASMY) soared 15% in 24h, with a potential long-term rally toward $0.27.
- SUI and Spark caught attention amid token unlock volatility.
- Pi Coin and Shiba Inu diverged, with SHIB falling 50% while BPENGU, a Bitcoin Penguins meme token, raised $2M in 4 days.

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🏛️ Institutional & Regulatory

- SEC’s “Project Crypto” aims to bring U.S. markets fully on-chain. Proposes simplified token classifications, unified exchange licensing, and lighter rules for ICOs and airdrops.
- White House Digital Asset Report (due this month) may include provisions for a Strategic Bitcoin Reserve.
- eToro tokenizing 100+ U.S. stocks on Ethereum, enabling 24/5 global trading.
- JPMorgan–Coinbase partnership allows Chase customers to move funds directly to crypto wallets.
- Trump Media allocates $2B to BTC, becoming one of the largest corporate holders.
- Mill City Ventures buys $450M in SUI to launch a new crypto treasury.
- Coinbase Q2 earnings missed EPS expectations; revenue fell 26% QoQ despite strong stablecoin gains.
- UK FCA reverses retail ban on crypto ETNs starting Oct 8.
- Hong Kong launches stablecoin licensing regime, signaling growing regional regulatory clarity.

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💰 Tokenization & RWA

Goldman Sachs & BNY Mellon tokenize $7.1T worth of money market funds.
21Shares files to launch first ONDO-backed ETF focused on RWAs and Treasury yield products.

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🔮 Closing Thoughts

This week highlighted a clear transition phase for the crypto market. Macro uncertainty and ETF outflows are pressuring BTC near term, but the long-term institutional, regulatory, and infrastructure momentum continues to accelerate. Altcoins are beginning to uncoil, and attention is now shifting to RWA projects, tokenized equities, and L1/L2 standouts.
Buckle up — August could get volatile.

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