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| BTC eyes $80K by August, analyst predicts. |
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Your weekly roundup of the 🔥hottest news in crypto: |
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A Week in Review: Will the US get CLARITY this week? Bitcoin’s new $80K target |
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#1CLARITY hinges on Trump’s ethicsPolymarket suggests the odds of the CLARITY Act passing this year are just 40%, after a raft of Democratic Senators, including Chris Murphy, Jeff Merkley and Chris Van Hollen, spoke out against the bill. A crucial Senate vote could happen as early as this week, with Senate Majority Leader John Thune stating it will definitely be held before Aug. 10. Democrat Senator Elizabeth Warren is trying to spoil the vote by highlighting how much money President Donald Trump has extracted from the industry. She demanded Trump voluntarily release his crypto earnings for this year, after his 2025 disclosure, showed he earned more than a billion dollars from crypto last year. The controversy means that Senate Democrats are unlikely to support the bill without a provision banning elected officials promoting or issuing cryptocurrency. Summer Mersinger, the CEO of the Blockchain Association and a former commissioner at the US Commodity Futures Trading Commission, said: “Ethics is the big elephant in the room.”
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#3
Prediction markets see record Q2 volume, France blocks PolymarketCrypto markets continued to flounder in the second quarter, with the notable exception of prediction markets. Spot trading volume across the top 10 centralized exchanges (CEXs) fell from $2.7 trillion in the first quarter to just $1.95 trillion in the second, according to CoinGecko’s latest Crypto Industry Report. CEX perps volume also declined 10% to $12.7 trillion, while the stablecoin market slipped 1.6% to $305.1 billion. In contrast, prediction markets recorded their strongest quarter on record with $113.8 billion in notional volume. Polymarket’s World Cup winner market alone has attracted more than $3.3 billion in trading volume, while contracts tied to the 2028 US presidential election rank among the platform’s largest markets, according to Polymarketscan data. Meanwhile, France’s National Gambling Authority has just ordered internet service providers to block access to Polymarket as it considers prediction markets to be illegal gambling. Polymarket is blocked in 33 countries... unless you have a VPN of course.
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Prediction of the week
Bitcoin gets new $80K August targetBitcoin (BTC) may hit up to $80,000 by August if it clears nearby resistance, a new prediction says. A macro tide could be the spark to ignite the next move higher. Crypto trader and analyst Michaël van de Poppe said earlier this week that BTC/USD has successfully defended “crucial” support. “It’s holding the crucial level at $61,000 and flipping important MAs for support, indicating that there’s more momentum on the horizon,” he wrote, referring to moving average trend lines. “I’m expecting to see a rally to $68,000 in the next 1-2 weeks, followed by a continuation towards $75,000-80,000 in August.” Not everyone agreed with the analysis, including nichoxbt who thinks the price is heading back under $60,000.
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FUD of the week
Consensys unknowingly outsourced developer work to North KoreanBlockchain company Consensys accidentally used a software developer linked to North Korea, who had access to some of its systems for a month. First reported on Friday by Drop Site, Consensys earlier this year took on a software developer via a “reputable third party service provider” who was later discovered to have ties to the Democratic People’s Republic of Korea. The move caused the Metamask developer to temporarily suspend product releases, but said an investigation has “confirmed there was no misappropriation of assets or data, no malicious code deployed, and no impact to user safety and security.”
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FUD of the week
Kaspersky identifies malware framework targeting crypto investorsCybersecurity company Kaspersky said a newly identified malware framework is targeting cryptocurrency investors. Dubbed “OkoBot,” the malware initiates an infection chain that starts with social engineering tactics such as ClickFix, which tricks users into running malicious commands, or trojanized GitHub apps that deliver a backdoor to infected devices, the cybersecurity company wrote in a Wednesday report. A separate malware campaign seeks to infiltrate the devices of Web3 developers via fake LinkedIn recruitment opportunities, according to SlowMist. Attackers contact blockchain devs via LinkedIn, posing as recruiters. They then send fake GitHub repositories to victims, claiming they contain code that needs to be assessed before the interview, the security company said in a Saturday report.
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