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The Next Big Bitcoin Move?
PLUS: Stablecoins Just Became the Main Character
Welcome back to The Warmup.
All over crypto, the way CNN is all over Trump and Putin.
Here’s what we’re watching:
Market Snapshot
Stablecoins Are Taking Back the Spotlight
Bitcoin Support Watch
From Harvard to Goldman: Bitcoin Fever Spreads
What We’re Watching
Market: Crypto majors slipped today with BTC, ETH, XRP, and SOL all pulling back, while XMR stood out as the lone gainer.
Stablecoins Are Taking Back the Spotlight
What’s going on:
Stablecoins are no longer just a sidekick, they’re moving center stage.
Together, these moves mark a clear shift: the biggest players in both TradFi and crypto are building dedicated chains for stablecoins and payments.
What it means:
The rise of stablecoin-focused chains could signal that existing L1s aren’t fully meeting the demands of traditional finance firms.
That may spell trouble for all-purpose chains like Ethereum, Solana, or Avalanche.But it also highlights just how central stablecoins are becoming.
They’re no longer just tools for trading, they’re evolving into the backbone of the crypto economy.
The bottom line? Stablecoins are the epicenter of the new generation of appchains.
Bitcoin Support Watch
What’s going on:
Bitcoin hit a new all-time high this week before pulling back. The question now is where support could form if the sell-off continues.
The most likely zone is between $108,000 and $112,000, which lines up with previous resistance.
On the positive side, the weekly EMA-20 (yellow) continues to trend higher, suggesting underlying strength.
Key levels we’re watching:
Support: $108,000–$112,000 → prior resistance zone and Fib confluence
Invalidation: Close below $108,000
Target: $125,000
Bias: Bullish while above EMA-20
What we’re waiting for:
Retest of $108,000–$112,000 support to gauge buyer demand
Reaction around the EMA-20 for confirmation of trend strength
Signs of accumulation or dip-buying if BTC approaches support
From Harvard to Goldman: Bitcoin Fever Spreads
What’s going on:
Wall Street is quietly buying up Bitcoin in size. Some of the biggest names in finance and investing have poured billions into spot ETFs like BlackRock’s IBIT and Fidelity’s FBTC.
Brevan Howard nearly doubled its IBIT stake to $2.6B
Goldman Sachs now holds over $3B across Bitcoin funds
Harvard disclosed a $1.9B position
Wells Fargo, Jane Street, and even Norway’s $2T sovereign wealth fund have all boosted their exposure.
Yet despite these big moves, the average US fund manager barely has 0.3% in crypto. In fact, 75% have no exposure at all.
What it means:
This is turning into a tale of two markets. On one side, institutions, banks, and even sovereign wealth funds are piling into Bitcoin.
On the other side, most professional fund managers are still sitting out.
The big players are showing that Bitcoin is now seen as a legitimate, institutional-grade asset. ETFs are making it easy, giving them safe and regulated access.
Retail investors are still asleep, and fund managers are slow to move. But history shows once the biggest names jump in, everyone else eventually follows.
 | MORPHO: |
 | SOL: |
 | AAVE: |
 | RON: |
Key Events this Week
Kaito Token Unlock (Aug 20): $23M KAITO (~10% of circulating supply) enters the market.
FOMC Minutes (Aug 20): July meeting minutes provide signals on interest rate path.
U.S. Jobless Claims & Flash PMIs (Aug 21): Labor market and business activity snapshot.
Jackson Hole Symposium (Aug 22): Fed Chair Powell expected to outline policy direction.
Major Earnings Releases:
Mon (Aug 18): Riskified, Fabrinet, Palo Alto Networks.
Tue (Aug 19): Home Depot, Cardinal Health, Sea Ltd., Tencent Music, Toll Brothers.
Wed (Aug 20): Lowe’s, Target, Analog Devices, Baidu, TJX.
Thu (Aug 21): Walmart, Workday, Intuit, Ross Stores, Zoom.
If Bitcoin dips to $108K–$112K, what’s your move? |
Bitcoin is still ranging around these levels, while ETH edges closer to its all-time highs.
Even with the ups and downs, the signals show this bull market still has room to run.
The smartest move now is not to stress or chase every dip and pump but to hold quality assets and stay patient.
Sometimes the best strategy is the simplest one: do less, stay the course, and let the bull market do the heavy work for you.
— The Warmup Team
Always do your own research. This newsletter is supplemental material to help educate readers as they make their own decisions. Projects mentioned here are provided to give a potential early-mover advantage.