Founder Reacts — Morning Crypto Report

TL;DR:

• BTC’s 90-day correlation with gold reverses from -0.9 to +0.7 as fiscal and geopolitical risk drives capital into both assets
• SHIB whale wallets shrink to 0.04% of holders while retaining 94.57% of supply, price stalls near $0.00000449 support
• Binance’s bStocks captures 27% of the tokenized stock market, holder base up 399% to 222,351 addresses on $619.57 million in assets
• BTC holds below the 50-day SMA at $64,316, with a break above $67,000 opening a path toward $71,000 amid Fed liquidity support and Ethereum staking inflows

Is “digital gold” back?

Amid U.S. fiscal pressure and geopolitical tensions, Bitcoin has become tightly linked to gold. According to CryptoQuant, their 90-day correlation has undergone a radical reversal, soaring from -0.9 in the winter to +0.7 by August 2026.

CryptoQuant CEO Ki Young Ju says the era of “digital gold” is returning, while spot ETFs are only accelerating the process by allowing funds to buy both assets within the same portfolios.

Bloomberg Intelligence senior analyst Mike McGlone, however, suggests valuing assets not in dollars but in ounces of gold. From this perspective, the Bitcoin-to-gold ratio of 1.86 and the S&P 500-to-gold ratio of 1.77 on Aug. 11–12 have only briefly rebounded from multiyear lows and risk moving lower again in the second half of the year.

Crypto still lacks the internal strength to outperform physical gold over the long term.

The chart’s rise is largely technical, as older negative data from the beginning of the year are simply rolling out of the calculation window. In addition, a positive correlation works both ways: during a severe liquidity crisis, Bitcoin and gold could fall in tandem.

Bitcoin’s dependence on the Nasdaq should not be forgotten either. Crypto moves more aggressively than the metal, and during periods of panic, Bitcoin still tends to fall alongside technology stocks.

The current convergence between the leading cryptocurrency and the precious metal is a temporary tactical alliance against inflation, not the final recognition of Bitcoin as an absolute safe haven. At least for now.

SHIB loses whales as large players’ wallets falls to 0.04%

A fresh on-chain audit of the Shiba Inu (SHIB) coin has identified an important trend: large players continue to gradually exit the asset, causing the wallets of whales to shrink to a symbolic 0.04% of all wallets.

Although these remaining 736 addresses still control an enormous 94.57% of the supply, the overall trend points to a steady reduction in whale positions and the redistribution of tokens.

Capital is flowing into millions of smaller wallets, while the token continues to trade as a high-beta Ethereum asset that is completely dependent on its liquidity.

The price of SHIB continues to slide within a downtrend and is trading near $0.00000449. The market remains passive, with the RSI stalled at 44.75 and retail traders lacking the volume required to produce a reversal.

A tight battle is currently unfolding around the local $0.00000440–$0.00000420 support zone, where buyers are attempting to establish a line of defense and protect the asset from further losses amid the outflow of large capital.

• Bearish scenario: If the current $0.00000440 support level is decisively broken amid the reduction in whale positions, a volume vacuum will open and the price could immediately plunge toward the yearly lows near $0.00000382.
• Bullish scenario: Any local rebound is currently possible only if Ethereum itself stages a strong reversal. Even if a rally begins, the price will quickly encounter a major resistance wall at $0.00000590–$0.00000630, where whales most actively unloaded their positions in mid-summer.

Retention, not extraction: CZ explains how Binance captured a quarter of the tokenized stock market

Binance’s bStocks platform captured 27% of the global tokenized stock market just two months after its June launch. The value of assets in the system surpassed $619.57 million, prompting Binance founder Changpeng Zhao, known as CZ, to respond directly to competitors.

bStocks consists of U.S. stocks and ETFs brought onto BNB Chain in a 1:1 format under ADGM regulatory oversight. Investors receive self-custody, automatic dividend reinvestment, and 24/7 trading without conversion fees.

According to the latest data, this blockchain-based format for traditional finance has attracted a rapid influx of users:

• The holder base surged 399% over the past month, rising from 44,000 to 222,351 addresses.
• Monthly on-chain transfer volume reached $21.5 billion.
• The most in-demand assets were among 2026’s market trailblazers: tokenized SanDisk led by market capitalization at $86.97 million, followed by SpaceX at $82.54 million and Circle at $75.48 million, leaving NVIDIA and Tesla behind.

Commenting on the platform’s dominance, which increased from 10% of the market in its first month to 27% in its second, CZ said Binance’s secret lies in retaining users over the long term rather than trying to extract a quick profit from them.

He criticized competitors’ market practices, noting that many platforms attract users with claims of zero fees and bonuses while imposing hidden charges behind the scenes or trading against their own clients.

According to CZ, competitors’ inability to build genuine loyalty allowed Binance to capture more than a quarter of the emerging global RWA sector.

Crypto market outlook: Bitcoin reversal toward $71,000 amid Fed liquidity injections

Bitcoin remains pinned below the 50-day SMA at $64,316. A break above this level would trigger a local reversal, while remaining below it would send the price toward support at $63,348.

Two factors are easing pressure on the market. First, the Federal Reserve Bank of New York allocated $5.179 billion to purchase Treasury bills, protecting banks from a liquidity shortage. Second, Fidelity is introducing 100% Ethereum staking with dividend payments. This encourages institutional investors to hold their coins for longer and reduces the available market supply.

Key checkpoints:

• Fidelity plans to stake all the Ethereum held by its fund and use the generated yield to make regular cash dividend payments to investors.
• Bitcoin’s chart is tightening within an inverse head-and-shoulders pattern, where a move above $67,000 would open a direct path toward the next target near $71,000.
• The Federal Reserve allocated $5.179 billion to purchase short-term Treasury bills, aiming to support the stability of the interbank system and stabilize money markets.
• The Bank of England, together with Polygon, has moved to practical tests of a digital pound, examining the capabilities of blockchain networks in settlements and real-economy financing.
• The mass opening of Bitcoin short positions has created a $5.11 billion liquidation zone that would trigger a cascade of forced buying if the price reaches $71,000.
• A similar setup has emerged in the Ethereum futures market, where a local price move toward $2,090 would force the immediate closure of more than $2.62 billion in short positions.

https://u.today/hyperliquid-hype-ethereum-eth-bitcoin-btc-and-shiba-inu-shib-price-analysis-for-august-11-market?from=article-links