Retail hype fades as Bitcoin and altcoins retrace, with analysts questioning whether last week’s spike was real.Global search interest for the term “alt season” has dropped more than 50% in just a week, according to Google Trends data, as enthusiasm for altcoins cools in tandem with a broader crypto market pullback.On Aug. 20, worldwide searches for “alt season” fell to a score of 45, down from a peak of 100 on Aug. 13 — just a day before Bitcoin reached a new all-time high of $124,128. That same week, Google searches for “altcoin” hit their highest level since 2021, while interest in Ethereum climbed to a two-year peak.Short-Lived Altcoin RallyThe surge in search activity coincided with notable gains in top altcoins. Dogecoin (DOGE) and XRP rallied nearly 19% in the two weeks leading up to Aug. 13. But both coins quickly reversed course, shedding around 11% each over the past week, per CoinMarketCap data.This reversal dampened the “alt season” narrative, raising questions about whether retail FOMO was truly building — or whether the spike in search traffic was artificially amplified.Was the Search Spike Real?Economist Alex Krüger openly questioned the sudden jump in “alt season” searches, writing on X (formerly Twitter):“I’m wondering if that data is correct, as the spike is dramatic and brief. Organic or manufactured via bots?”Crypto traders have long tracked Google Trends data as a proxy for retail market sentiment. A sharp spike in search interest is often seen as a contrarian indicator, suggesting that markets may be nearing a local top.Analysts Split on Relevance of Search DataNot everyone believes Google search trends are still reliable market signals. Cristian Chifoi, a crypto analyst, argued on X that the term “altseason” was recently amplified by major exchanges like Coinbase, which may have contributed to the spike.Coinbase Institutional’s global head of research, David Duong, echoed the altcoin momentum narrative in an August report, writing:“We think current market conditions now suggest a potential shift toward a full-scale altcoin season as we approach September.”Still, Chifoi and other traders remain skeptical, noting that institutional investment vehicles such as Bitcoin and Ethereum ETFs and corporate crypto treasuries provide new on-ramps for investors that may reduce the relevance of search interest as a sentiment gauge.With “alt season” searches collapsing by more than half in a matter of days, enthusiasm for a broad altcoin rally appears to have fizzled — at least for now.Whether this signals a cooling market or simply a pause before fresh capital rotates into altcoins remains to be seen, according to Cointelegraph.

According to Cointelegraph, the crypto-focused investment arm of venture capital firm Andreessen Horowitz has highlighted the potential of modern cryptographic techniques, such as zero-knowledge proofs (ZK-proofs), in safeguarding user privacy while enabling law enforcement to target illicit activities. In a recent report, a16z Crypto policy partner Aiden Slaven and regulatory counsel David Sverdlov emphasized that ZK-proofs can verify data authenticity without revealing private information, offering significant potential in tracing the origin of funds without compromising privacy. The report was released shortly after Roman Storm, co-founder of the crypto mixing service Tornado Cash, was convicted of conspiracy charges related to operating an unlicensed money business. Tornado Cash, known for masking the origin and destination of cryptocurrency, faced criticism from law enforcement for allegedly facilitating criminal activities by concealing illicit gains. Slaven and Sverdlov argue that ZK-proofs could provide assurances at cash-out points that cryptocurrency does not originate from criminal proceeds, while maintaining user privacy over on-chain transactions. Beyond financial applications, Slaven and Sverdlov suggest ZK-proofs can be utilized in everyday tasks, such as proving citizenship without disclosing sensitive documents like passports or birth certificates. This technology allows verification of facts without exposing additional information that could compromise privacy. U.S. Securities and Exchange Commission Commissioner Hester Peirce echoed similar sentiments at the Science of Blockchain Conference, advocating for the protection of privacy-enhancing technologies. Despite concerns about scalability, advancements in cryptographic privacy technology are making it more feasible for widespread adoption. Slaven and Sverdlov note that improvements in reducing computational overhead are enhancing the practicality of ZK-proofs for larger-scale implementation. They assert that cryptographers, engineers, and entrepreneurs are continuously refining the scalability and usability of these proofs, making them effective tools for law enforcement while preserving individual privacy. The U.S. government's July crypto report identified ZK-proofs as a method to protect user privacy while enabling compliance checks. JPMorgan's private blockchain, Nexus, employs this technology for tokenized cash settlements and interbank messaging. Slaven and Sverdlov also mention other cryptographic privacy technologies worth exploring, such as homomorphic encryption, multiparty computation, and differential privacy, which offer various methods to protect private data while enabling necessary computations. Slaven and Sverdlov conclude by acknowledging the historical anxieties surrounding privacy with new technologies, noting that blockchains are often misunderstood as either excessively transparent or as havens for crime. They emphasize the importance of understanding and leveraging privacy technologies to balance transparency and security in the digital age.

Bitcoin retraced to a low of $112,600 as retail panic selling resulted in the most bearish social sentiment since June, but analysts see a buying opportunity ahead. source: https://cointelegraph.com/news/retail-flips-ultra-bearish-bitcoin-dips-113k-santiment?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Brian Armstrong, CEO of Coinbase Global Inc.  (NASDAQ:COIN), cheered the addition of XRP (CRYPTO: XRP) and Solana (CRYPTO: source: https://www.benzinga.com/crypto/cryptocurrency/25/08/47226939/brian-armstrong-hails-great-progress-as-coinbase-rolls-out-advanced-trading-for-popular-coins-solana-xrp?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

Bank of America's potential stablecoin entry could reshape cross-border payments amid regulatory developments. source: https://coincu.com/356079-bank-america-stablecoin-market

Search interest in “altseason” has dropped sharply, with one economist even questioning whether the search spike last week was genuine. source: https://cointelegraph.com/news/google-search-interest-altcoin-season-plunges-crypto-market-downturn?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

According to PANews, Morgan Stanley's Chief Information Officer recently stated that the market sell-off in April marked the final capitulation of the previous bear market, signaling the end of the downward cycle. The market has now entered a new bull phase, which has been underway for approximately four months. The CIO emphasized that a hallmark of a new bull market is shallow pullbacks, offering limited opportunities for investors to enter. Historically, bull markets tend to last at least one to two years, if not longer, indicating that the current market is still in its early stages. This assessment applies not only to traditional stock markets but also offers insights for the cryptocurrency market. With ongoing inflows from institutional and sovereign funds, core assets like Bitcoin and Ethereum are becoming primary allocation targets. If historical trends continue, this may just be the beginning of a crypto bull market.

According to BlockBeats, data from Coinglass indicates that if Bitcoin surpasses $115,000, the cumulative liquidation intensity of short positions on major centralized exchanges (CEX) will reach $1.122 billion. Conversely, if Bitcoin falls below $112,000, the cumulative liquidation intensity of long positions on these exchanges will amount to $882 million. BlockBeats notes that the liquidation chart does not precisely display the number of contracts pending liquidation or the exact value of liquidated contracts. Instead, the chart's bars represent the relative importance of each liquidation cluster compared to nearby clusters, indicating intensity. Therefore, the chart illustrates the extent to which the asset price reaching a certain level will be affected. A higher "liquidation bar" suggests that once the price is reached, there will be a stronger reaction due to liquidity waves.

According to the firm’s latest data, the realized price for short-term holders has climbed above $107,000 — a level now […] The post Bitcoin Rally Under Fire as Analysts See Trouble Ahead appeared first on Coindoo. source: https://coindoo.com/bitcoin-rally-under-fire-as-analysts-see-trouble-ahead/

Capital rules need review as crypto risk management is now "more in line with traditional finance," Decrypt was told. source: https://decrypt.co/335946/wall-street-trade-groups-call-rethink-basel-crypto-standards

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