Daily Market Wrap | Aug. 11

Hot Topics

• El Salvador’s Investment Banking Law allows investment banks to hold Bitcoin and offer crypto services to sophisticated investors.
• The U.S. national debt surpassed $37 trillion in August 2025.
• Fundamental Global filed a $5B shelf registration to acquire up to 10% of Ethereum.
• Montenegro proposed €500M in bonds to create a national Bitcoin reserve.
• Trump's tariffs raised the U.S. average tariff rate to 20.11% by August 2025.

Market Updates

• Bitcoin bulls tested the $122,056 Fibonacci resistance level, aiming for $140,000 or risking a deeper correction.
• Ethereum jumps over 20% following Pectra upgrade.
• DeFi liquidity reached a record $270 billion in July 2025, while NFT decentralized applications slightly surpassed DeFi in user activity.
• Zora surged 50% to over 13 cents as large purchases and new perpetual contracts boosted trading volume.