🗞 SUMEX Pulse: BTC, ETH Near Record Highs on Fed Pivot Bets (6–13 Aug)

Crypto bulls are charging as a September Fed rate cut appears certain. BTC and ETH are trading near all-time highs, bolstered by treasury demand, ETF flows, and macro tailwinds. Optimism from last week’s crypto 401(k) plan approval and anti-debanking protections has grown manifold.

🚨 Top Blocks of the Week

1️⃣ Bessent Calls for 50-bps Fed Cut 📣

The odds of a September Fed rate cut zoomed to 99.9% after new inflation data and dovish remarks from Treasury Secretary Scott Bessent. On Fox News, he advocated for a 50-basis-point cut, criticizing the Fed’s flawed data. Markets previously priced in just 25 bps. Bessent's words matter as he will pick the next Fed Chair.

2️⃣ CPI Report Eases Fears 🇺🇸

July’s headline CPI came in below expectations (+2.7% YoY vs. +2.8% projected). Though core CPI was hotter (3.1% YoY vs. 3.0%), crypto bulls viewed the report positively, and BTC edged higher. Evidence of a modest tariff impact, combined with weak July jobs and May-June revisions, reinforced expectations for September easing.

3️⃣ Ether Nears All-Time High 📈

ETH is <5% below its ATH, with options traders betting on $5K+ by September. The coin is up 52.9% monthly, driven by institutional demand. On Aug. 8, spot ETH ETFs outshined BTC counterparts (+$460M vs. +$400M). Together with corporate treasuries, they hold $33B (vs. $24B in July), while exchange supply hit a 2016 low.

4️⃣ Monero’s 51% Attack Crisis 😱

XMR plunged after Qubic controversially seized >51% of Monero’s hashrate to validate its "Outsourced Computations" and "Useful Proof of Work" (UPoW) models. The move shattered trust — Qubic’s control enables chain reorganizations, transfer censorship, and double-spending. Its end goal is to have Monero's security provided by Qubic’s miners.

⏰ Market Snapshot

Bitcoin (BTC)
Current price: $120,629
Change: +5.8%
Weekly range: $113,924 – $122,227

Ether (ETH)
Current price: $4,687.70
Change: +29.2%
Weekly range: $3,583 – $4,694

🔥 Top Movers

↗️ LDO (+69.1%) — SEC’s "not a security" stance on liquid staking boosted Ethereum products.
↗️ LINK (+50.3%) — ICE partnership (NYSE parent) + Chainlink Reserve buybacks.
↗️ ENA (+40.0%) — Pendle collaboration (looping strategy) + record USDe supply.

💣 Biggest Losers

🔻 XMR (-13.1%) — Qubic’s hashrate takeover (above) raised decentralization concerns.
🔻 IP (-6.7%) — Corrected post-Upbit listing and Heritage Distilling’s IP treasury plans.
🔻 XDC (-4.0%) — Overlooked $300M+ staking milestone and the SEC's staking boost.

🤫 Weekly Tip

🇺🇸🇷🇺 This Friday's Trump-Putin Alaska summit (Aug. 15) could trigger major crypto moves:

• Bullish: A Ukraine peace deal (sanctions relief = capital inflows)
• Bearish: Failed talks may spark an altcoin exodus, with BTC benefiting as a safe haven.

#cryptonews@sumex_official