Analyst Predicts Ethereum Rally to $3K After Major On-Chain Breakout

Bitcoin displayed remarkable resilience this week, firmly holding above $64,500 after briefly approaching the $65,000 mark. Despite intraday pullbacks that pushed the price down to $64,144, the leading cryptocurrency has posted gains of approximately 3% since August 1st, signaling stability amidst market volatility. The cryptocurrency market is closely watching the decline in short liquidations, a clear indication that bearish traders are retreating. This gradual upward trend, though slower at the start of the month, suggests Bitcoin may be building a solid foundation before potential more significant movements. Investors are monitoring support and resistance levels closely to assess the market's next directional move.

Solana (SOL) is trading near $73 as whale accumulation, firm support, and a tightening breakout setup keep the possibility of a move towards $100 in focus. Large holders are increasing their positions while the current price level maintains solid support, creating an optimistic scenario for investors eyeing potential upside in the cryptocurrency market.

This accumulation pattern, combined with decreasing volatility and the formation of an ascending triangle, suggests the market is in a consolidation phase before a potential significant move. Analysts note that breaks above key levels could trigger a rally that would drive SOL to test its historical resistance, with whale accumulation serving as an additional catalyst for the Solana ecosystem's recovery.

Figma, the collaborative design platform, discloses a strategic Bitcoin ETF exposure worth approximately $91 million, debunking the circulating 938 BTC figure. This position reveals the company's cautious approach to balancing crypto exposure with liquidity and regulatory clarity, showcasing a sophisticated understanding of the digital asset landscape.

Figma's strategy exemplifies a growing trend among corporations to adopt controlled Bitcoin exposure through ETFs rather than direct cryptocurrency allocations. This approach offers immediate liquidity, regulatory compliance, and transparency, positioning Figma as an innovative company carefully navigating the crypto ecosystem while seeking diversification and growth in the digital asset market.

Palladium (XPD) is currently testing a critical recovery zone, with the price trading near $1,381 per ounce after a prolonged fall from the 2026 peak. Despite attempting to resume the upward trajectory, momentum indicators remain weak, signaling caution among investors as the precious metal struggles to find solid footing. This palladium price action unfolds against a backdrop of precious metals market volatility, where supply and demand dynamics continue to influence price movements. The XPD recovery will be closely watched by traders and analysts, as a decisive break above resistance could signal a trend reversal, while sustained weak momentum might prolong the current consolidation phase in the palladium market.

Crypto startup RedotPay finds itself at the center of a legal battle with Binance, accused of quietly siphoning over 470,000 Binance Card users to its own competing stablecoin card. The crypto giant alleges $472.8 million in losses, based on an estimated $925 lifetime value per customer, and is seeking legal remedy in Hong Kong against RedotPay's founders.

This case highlights the complexities of the cryptocurrency ecosystem and potential pitfalls in partnership agreements. Binance, one of the world's largest crypto exchanges, now faces the challenge of protecting its user base while fighting to recover what it considers significant damages. The situation raises questions about crypto fintech regulation and customer data protection in an industry still in its development stages.