DASH Price Eyes $65 as Major Trendline Breakout Meets Privacy Upgrade

Bitcoin rose about 3% to trade above $66K, with market cap up to $2.25T (+2.7% in 24 hours). CryptoQuant said large BTC whales have been accumulating while medium wallets sold. Analysts reported stablecoin withdrawals from Binance and Bybit of $2.3B over a month. FTX said $900M payouts are due July 31. Cardano activated the Van Rossem hard fork.

Bitcoin ETFs, led by iShares Bitcoin ETF Trust (IBIT), saw $1.92B in inflows last week, the highest since October 2025. Bitcoin traded around $78,500, needing a 60.5% gain to reach its all-time high. Institutional investors are showing renewed interest in Bitcoin ETFs, with BlackRock processing $5B in Bitcoin swaps. The required transaction amount for Bitcoin-to-ETF exchanges has decreased significantly.

Bitcoin's surge above $80,000 boosted crypto-related stocks, including miners and digital asset firms. Circle's USDC stablecoin saw a supply increase, leading Bernstein to maintain an Outperform rating and $140 price target. Strategy's financial health depends more on capital market access than Bitcoin's price, while Solana's transaction volume hit a record, driving a 40% rally in SOL.

Hyperliquid's HYPE token reached a record high after President Trump mentioned it at a White House event, suggesting U.S. regulators may approve it. The token has surged 230% in a year, driven by partnerships, institutional investment, and blockchain upgrades. Hyperliquid's blockchain processes 200,000 orders per second, offering speed and Ethereum compatibility.

Ahead of Fed Chair Kevin Warsh's Jackson Hole speech, an unidentified trader moved $912 million in Bitcoin. Markets expect no rate change in September, with Bitcoin's price near $80,000. Treasury's bond buybacks may influence long-term yields and risk assets. Sygnum CIO notes the rally was driven by broader market factors. Large Bitcoin transfers often occur before Fed events due to anticipated volatility.

Ethena Foundation proposed automated ENA buybacks, funded by 95% of net revenue, if USDe supply reaches $7.5 billion. Current supply is $4-4.6 billion. The plan, part of a restructuring effort, includes OTC buyouts of locked ENA from seed investors and consolidation of upcoming token unlocks. ENA surged 16-23% intraday. The buyback mechanism depends on USDe growth and revenue from its underlying positions.