Bitcoin pushed back toward its all-time high near $123k early Monday after rebounding from early August lows around $112k. The move tracked a broader risk rally as markets priced a September Fed cut. Stephen Miran’s nomination to the Fed Board last week reinforced that view after weak July jobs data. A softer dollar added a tailwind, lifting USD‑quoted flows and amplifying BTC’s gains.

It’s a big week ahead for macro news, with multiple central bank meetings, including the Fed, and a plethora of economic data to sift through. Moreover, crypto markets just absorbed a enormous $9bn BTC sale without much fuss. We explore all these topics and more in this week’s debrief.

This week we’re examining the shift in the crypto market towards altcoins. Last week’s rally was one of the largest moves over the past three years, hinting at a potential set up for an altcoin season. In contrast, Bitcoin’s stranglehold on the market has slipped somewhat, as investors favour smaller assets at present.

Bitcoin topped $123k for the first time on Monday as last week’s rally extended into a second week. Today we’re going to explore the latest all-time highs in the context of portfolio risk, focusing on how BTC has consistently set highs during low volatility periods in recent months.

Bitcoin came close to a new all-time high last week before strong U.S. jobs data dented rate-cut hopes and pulled markets lower. Yet momentum remains intact, driven by institutional demand and a clear shift toward Bitcoin over altcoins. This week, we explored the structural shifts that may be laying the groundwork for a breakout.

This week we’re diving into Ethena’s USDe, a stablecoin that’s quickly captured market share and regulatory attention. As global rules tighten and stablecoins become more integrated into mainstream finance, can USDe keep its momentum? We break down the data and the latest headlines.

Circle’s IPO debut on the New York Stock Exchange on June 5th captured market attention, with shares surging well beyond expectations and outperforming other major crypto listings. This special edition of our Data Debrief examines the on- and off-chain data signals that set the stage for this blockbuster launch and help explain the drivers behind Circle’s remarkable valuation.

This week we’re talking all things Solana. As ETF issuers line up to launch funds tracking SOL the market reaction has been muted in parts. However, looking in the right place shows signs of institutional demand.