The cryptocurrency market reversed its losses over the past 24 hours as Bitcoin (BTC) , Ethereum (ETH), and other cryptocurrencies recovered after hitting multi-week lows. BTC fell to a seven-week low on Tuesday, dropping below $110,000 to a low of $109,454. However, it rebounded from this level as market sentiment turned positive, reaching an intraday high of $112,368 before moving to its current level. BTC is up over 1% in the past 24 hours, trading around $111,440. Ethereum (ETH) made a stronger recovery, rising over 4% from a low of $4,396 on Tuesday to reclaim $4,600 and move to its current level of $4,633. The altcoin will look to build momentum and push towards $4,800 and higher. Ripple (XRP) is up over 4%, while Solana (SOL) rallied over 8% to reclaim $200 and move to its current level of $204. Dogecoin (DOGE) is up 5%, while Cardano (ADA) is up over 3%, trading around $0.872. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) also registered notable increases over the past 24 hours. Kraken Meets With Crypto Task Force Cryptocurrency exchange Kraken has met with the United States Securities and Exchange Commission’s (SEC) Crypto Task Force to discuss the tokenization of traditional assets and the creation of a tokenized trading system. According to a memorandum filed on Monday, SEC staff met with representatives from Payward, Inc., Kraken Securities LLC, and two from the law firm Wilmer Cutler Pickering Hales and Dorr LLP. The meeting discussed the tokenized trading system, regulatory frameworks, and legal requirements for operating the system and the potential benefits of tokenization. The meeting comes as traditional exchange associations and global regulators have urged the SEC to adopt a stricter approach towards tokenized stocks. The associations have argued that the markets lack the necessary safeguards for tokenized stocks. Traditional market restrictions do not apply to tokenized stocks, which can be traded 24/7. Kraken and Robinhood are two platforms that offer users tokenized stocks. Kraken announced its tokenized stocks offering on May 22, while Robinhood began its services on June 30. Spot Crypto ETPs Post $1.4 Billion In Losses Spot cryptocurrency investment products registered substantial outflows last week as Bitcoin (BTC) and Ethereum (ETH) prices crashed. Crypto exchange-traded products (ETPs) registered $1.4 billion in outflows last week, ending a two-week inflow streak that brought in $4.3 billion in capital. The outflows come as BTC plunged below $110,000 and ETH fell below $4,400, according to data from CoinGecko. The losses marked the second-biggest outflows for ETH ETFs, with almost $430 million withdrawn on Tuesday alone. CoinShares head of research, James Butterfill, said that the $1.4 billion in outflows was the largest since March 2025. He attributed the outflows to increasingly polarized investor sentiment over US monetary policy. “However, sentiment shifted later in the week following Jerome Powell’s address at the Jackson Hole Symposium, which was widely interpreted as more dovish than expected, sparking inflows of $594 million.” CFTC’s Kristin Johnson To Leave Position Next Week US Commodity Futures Trading Commission Commissioner Kristin Johnson has confirmed she will be leaving her position on September 3. Johnson had announced she would leave the agency before completing her term, which expires in 2026. The commissioner released a statement on Tuesday, saying she was honored and privileged to work as a financial market regulator. She also said her work inspired her to do more as she looks for new ways to be of service to customers, the markets, and the nation. Johnson is the CFTC’s sole Democratic commissioner and joined in March 2022 after being nominated by former President Joe Biden. Johnson’s exit will leave the CFTC severely short-staffed and with a nearly empty panel of commissioners. This, according to market watchers, could hamper its work in regulating the cryptocurrency markets. CFTC Chair Caroline Pham will continue leading the agency until Brian Quintenz is confirmed. Donald Trump Jr. Joins Polymarket Board Polymarket has added Donald Trump Jr. to its advisory board after receiving a strategic investment from 1789 Capital, which describes itself as a politically aligned investment vehicle backing companies that advance “American exceptionalism.” While the financial terms were not disclosed, Axios believes the investment could be in the “millions.” In a statement released on Tuesday, Trump Jr. stated, “Polymarket cuts through media spin and so-called 'expert' opinion by letting people bet on what they actually believe will happen in the world.” The investment comes as Polymarket is attempting a regulated return to the US markets after being forced to block users following scrutiny from the Commodity Futures Trading Commission (CFTC). The CFTC had fined Polymarket $1.4 million in 2022 for operating an unregistered swaps platform. The agency also ordered the platform to block American users. Blue Chip NFTs Drop As ETH Retreats Blue-chip NFT collections registered substantial weekly declines as Ethereum (ETH) retreated after setting a new all-time high. According to data from DefiLlama, major NFT projects saw floor prices drop by double digits, with collections like Pudgy Penguins, Bored Ape Yacht Club (BAYC), and Doodles hit the hardest. Pudgy Penguins registered a 17.3% drop in floor prices while Doodles registered an 18.9% correction. Moonbirds fell by over 10% while Lil Penguins fell by 14.6%. The floor price drop occurred after ETH registered a sharp fall from record highs. The world’s second-largest cryptocurrency reached a new all-time high of $4,956 before registering a significant decline. Bitcoin (BTC) Price Analysis Bitcoin (BTC) is back in the red during the ongoing session after a slight recovery on Tuesday, which saw it briefly reclaim the $112,000 mark. The flagship cryptocurrency has faced substantial selling pressure this week, dropping nearly 3% on Monday and settling at $110,127. The price fell to an intraday low of $108,670 on Tuesday. However, it rebounded from this level to reclaim $111,000 and settle at $111,788, ultimately rising around 1.51%. The current session sees the price down almost 1%, trading around $110,743. BTC’s sharp rebound following Federal Reserve Chair Jerome Powell’s speech on Friday fizzled out over the weekend, as it fell to a low of 110,535 on Sunday before settling at $110,127. Weekend price action underscored downside vulnerability, with on-chain indicators suggesting broad distribution among BTC holders. According to data from Glassnode, BTC cohorts have shifted into distribution, with the 10-100 BTC group taking the lead. Glassnode analysts believe this behavior indicates firm sell-side pressure that could impact price stability. Analyst Boris Vest noted that behavior was split across smaller holders. Holders with 0-1 BTC have accumulated since the peak, while those with 1-10 BTC resumed purchases below $107,000. Meanwhile, 10-100 BTC holders flipped to sellers after the $118,000 mark, while large hodlers with over 1,000 BTC remain consistent distributors. However, the 100-1000 BTC group is split between accumulation and distribution at around the $105,000 mark. The pullback aligns with BTC’s seasonal tendencies. August and September have historically been weak months for the flagship cryptocurrency, coinciding with low risk appetite and profit-taking by traders. BTC started the previous weekend in bearish territory, dropping nearly 1% on Friday (August 15) to $117,436. The price registered marginal increases on Saturday and Sunday, settling at $117,488. However, BTC was back in the red on Monday, dropping 1.02% to a low of $114,703 before settling at $116,286. Selling pressure intensified on Tuesday as BTC plunged nearly 3%, slipping below $113,000 and settling at $112,856. Despite the overwhelming selling pressure, the price was back in positive territory on Wednesday, rising over 1% to reclaim $114,000 and settling at $114,276. Source: TradingView Selling pressure returned on Thursday as BTC fell 1.57% and settled at $112,480. Bullish sentiment returned on Friday as BTC rallied, rising nearly 4% to reach an intraday high of $117,416 before settling at $116,908. However, the price lost momentum on Saturday, dropping 1.30% to $115,383. Selling pressure intensified on Sunday as BTC plunged to an intraday low of $110,635. However, it rebounded from this level to reclaim $113,000 and settle at $113,478, ultimately dropping nearly 2%. Selling pressure persisted as BTC started the week in the red, dropping almost 3% to a low of $109,275 before settling at $110,127. The price fell to an intraday low of $108,670 on Tuesday as selling pressure intensified. However, it rebounded from this level to reclaim $111,000 and settle at $111,788, ultimately rising 1.51%. The current session sees BTC back in the red, down almost 1%, trading around $110,848. BTC has stabilized above the $110,000 mark, which analysts interpret as resilience. If the flagship cryptocurrency can build momentum from this level and break above the $115,000, it could push towards the $120,000 mark. Institutional interest will play a key role in BTC’s price action. Large funds have absorbed steady inflows and maintained long-term strategies despite short-term upheaval. Ethereum (ETH) Price Analysis Ethereum (ETH) set a new all-time high on Sunday, rising to $4,957. However, it was rejected from this level and fell by over 8% on Monday to settle at $4,380. The price recovered on Tuesday, rising over 5% to reclaim $4,600 and settle at $4,603. ETH is marginally up during the ongoing session, trading around $4,617. ETH has registered substantial institutional interest over the past few weeks, with new Ethereum treasury companies buying the altcoin aggressively. According to data from Farside, $633 million worth of crypto positions were liquidated thanks to Monday’s decline. Despite this, spot Ethereum ETFs registered $444 million in inflows on Monday, and have seen over $1 billion in capital inflows over the past three days alone. According to The Block, assets under management by spot Ethereum ETFs hit $26.8 billion on Friday and will most likely cross the $27 billion mark this week. Rising inflows suggest that market sentiment towards ETH has not shifted despite Monday’s decline. BitMine has established itself as the world’s largest corporate Ethereum treasury thanks to an aggressive accumulation strategy that began in June. The Delaware-based firm disclosed crypto and cash holdings worth $8.82 billion following a $2.2 billion accumulation spree, ranking only behind Michael Saylor’s Strategy among global crypto treasuries. Institutional interest in ETH goes beyond BitMine, with BlackRock purchasing $314 million worth of ETH while reducing its BTC positions. Corporate Ethereum holdings have surged over 127% in July. Over 70 corporate entities control 4.3 million ETH, 3.6% of the asset’s total supply. ETH started the previous weekend in the red, dropping over 2% to $4,444. Sellers retained control on Saturday, registering a marginal decline before rising over 1% to end the weekend at $4,476. Selling pressure returned on Monday as ETH fell 3.58% and settled at $4,316. Bearish sentiment intensified on Tuesday as the price fell 5.54% to $4,076. Despite the overwhelming selling pressure, ETH recovered on Wednesday, rising over 6% to reclaim $4,300 and settle at $4,338. Source: TradingView ETH was back in the red on Thursday, dropping nearly 3% and settling at $4,225. The price rallied on Friday following Fed Chair Jerome Powell’s speech at Jackson Hole. ETH surged over 14% following the speech, reaching an intraday high of $4,449 before settling at $4,830. It registered a marginal decline on Saturday before recovering on Sunday to set a new all-time high of $4,957. ETH failed to push above $5,000 on Sunday as sellers overwhelmed buyers at upper levels. As a result, it fell over 8% on Monday, slipping below $4,500 and settling at $4,380. Despite the bearish start to the week, ETH recovered on Tuesday, rising over 5% to reclaim $4,600 and settle at $4,603. The current session sees ETH marginally up, trading around $4,609. Solana (SOL) Price Analysis Solana (SOL) has made a strong recovery after Monday’s decline and has recouped nearly all its losses after reclaiming the $200 mark. SOL fell over 9% on Monday after reaching an intraday high of $213. It rebounded on Tuesday, rising nearly 5% to $195. The current session sees SOL up over 4%, trading around $204. SOL could witness a supply squeeze as institutional investors and crypto entities bet on the altcoin. Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly preparing to raise $1 billion to fund SOL purchases. The figure represents one of the largest corporate bets on SOL. The firms have already begun discussions with potential investors and have tapped Cantor Fitzgerald as the lead bank for the deal. The plan involves creating a new digital asset company by taking over an existing publicly-traded entity. If successful, it would become one of the largest treasuries dedicated to Solana. Pantera Capital also plans to raise $1.25 billion to purchase and convert a Nasdaq-listed company into “Solana Co.,” a public vehicle to buy SOL as a treasury asset. According to one report, Pantera is planning an initial $500 million raise, followed by a subsequent $750 million raise through warrants. SOL registered a sharp drop on Friday (August 15), falling 3.48% and settling at $185. However, it rebounded over the weekend, rising 2% on Saturday and 0.73% on Sunday to settle at $191. Despite the positive weekend, SOL was back in the red on Monday, dropping over 4% to $183. Sellers retained control on Tuesday as the price fell 3.69%, slipping below $180 and settling at $176. Bullish sentiment returned on Wednesday as SOL rallied, rising nearly 7% to reclaim $180 and settle at $188. Source: TradingView However, SOL was back in the red on Thursday, dropping over 4% to $180. Bullish sentiment returned on Friday as SOL rallied after Fed Chair Jerome Powell’s Jackson Hole speech. As a result, the price surged over 11% to settle at $200. The price encountered volatility on Saturday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as SOL rose 1.73% to $204. The price continued pushing higher on Sunday, increasing 0.93% to $206. Despite positive momentum, SOL plunged over 9% on Monday, slipping below $200 and settling at $187. Despite the selling pressure, SOL recovered on Tuesday, rising 4.60% to cross $190 and settle at $195. The price is up almost 4% during the ongoing session, trading around $204. Arbitrum (ARB) Price Analysis Arbitrum (ARB) started the previous weekend in the red, dropping nearly 7% to $0.482. However, it recovered over the next two days, rising 2.24% on Saturday and almost 9% on Sunday to settle at $0.536. ARB was back in the red on Monday, dropping 4.62% and settling at $0.511. Selling pressure persisted on Tuesday as the price fell 7.54% to $0.473. Despite the overwhelming selling pressure, ARB recovered on Wednesday, rising over 8% to reclaim $0.50 and settle at $0.513. Source: TradingView ARB was back in the red on Thursday, dropping 3.45% to $0.495. Bullish sentiment returned on Friday as the price rallied, rising over 18% to $0.586. Buyers retained control on Saturday as ARB rose 4.54% and settled at $0.613. Despite the positive sentiment, ARB was back in the red on Sunday, dropping 5.58% to $0.578. Selling pressure intensified on Monday as the price fell 10.57% and settled at $0.517. ARB rebounded on Tuesday but is back in the red during the ongoing session, down nearly 3%, trading around $0.515. Filecoin (FIL) Price Analysis Filecoin (FIL) ended the previous weekend in positive territory, rising 1.38% to $2.56. It lost momentum on Monday, dropping almost 4% and settling at $2.46. Selling pressure intensified on Tuesday as the price fell 4.22% to $2.45. FIL recovered on Wednesday, rising over 3% to $2.45, but was back in the red on Thursday, dropping 2.15% and settling at $2.48. FIL rallied on Friday, surging almost 8% to cross $2.50 and settle at $2.57. Source: TradingView Selling pressure returned over the weekend as FIL fell 1.80% on Saturday and 4.19% on Sunday to settle at $2.41. Bearish sentiment intensified on Monday as the price dropped almost 10% to $2.18. However, it recovered on Tuesday, rising 6.64% and settling at $2.32. The current session sees FIL down 1.20%, trading around $2.29. 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