Bitcoin Is Firing A Warning Shot

Written by Jason Krutzky, Chartered Meme Technician at Spot Trading.

This week began with strong momentum that had me feeling quite optimistic. Early-week price action suggested the majors were poised to break higher. However, that optimism was short-lived. On Thursday, Bitcoin and Solana both briefly swept their near-term highs before selling off sharply.

Though they're beginning to find their footing today, this sudden reversal has me feeling a bit uncertain about the broader market direction, and I'm monitoring things pretty closely now. In other news:

• ETH Alts and Memes Have Landed On Spot

• The Spirit Of Gambling Is Within Us All

• $1m Buy & Burn For $LIGHT 2 Days Post Launch

• The Launchpad Wars Are Heating Up

• Grayscale Files For DOGE ETF

• Tokabu Becomes Face Of Sentinel VPN

Ready to dive in? Below, you'll find my technical breakdown of the majors, this week's standout chart, and the key news stories that shaped the market narrative. LFG!

Bitcoin Is Firing A Warning Shot: Majors On The Move

$BTC (-0.85%)

I want to start off by saying that I'm really not trying to spread fud here. I'm really, really not. But Bitcoin is firing a warning shot. 

I have two things highlighted: First, each major high we've had over the past 4 years has started with the exact price action we're seeing this week.

Price puts in a high, then a few weeks of consolidation, then you get the high sweep (the red circles), and that marks the top for a while. 

You've also got RSI weakening on the new highs in both instances; Between the April '21 and Oct '21 highs, and now again between the Jan '25 and Sept '25 highs. 

Typically, you want to see RSI increasing as the price increases. When it doesn't, that means the chart is actually weakening despite the new highs. Not great.

Now is this the end? Probably not. I could easily be proven wrong here. 

But, it's also probably not the worst place in the world to lock in some gains if you've been holding awhile and trying to time the top. 

Buy BTC

$ETH (+6.87%)

Ethereum has maintained its strong performance over the past two months, with that upward momentum continuing this week.

Last week, it broke through a significant resistance level (the green box), and this week it continued climbing, reaching just below its all-time highs.

When ETH was trading below that resistance level, I noted that the consolidation period would likely help the price break through more easily when the time came. This is exactly the scenario we're seeing play out.

The rally appears to have more room to run. The RSI indicator is confirming these new highs, which is an encouraging technical signal.

Would it be problematic if the price pulled back into that previous resistance zone to test it as a new support level? Not at all. That would be healthy for the trend.

A brief pullback and consolidation would be preferable, as it would give ETH a solid foundation to launch through those all-time highs when it makes its next move higher.

Buy ETH

$SOL (+5.50%)

Solana has exhibited some particularly challenging price action lately, and again, I swear I'm not trying to fud here, but it kind of looks like BTC.

At the very least, the past three tops have all started the same way: With a high sweep and then a failure back below the previous high. It happened in January, it happened in May, and it appears to be happening again now, too. You've also got RSI weakening on those new highs, just like we noted on BTC. This is a bearish divergence between price and relative strength. 

So yeah, SOL looks uncertain here, but I'm not willing to count it out yet. A proper close above the late July high (around $206) would negate the idea.

Buy SOL

Chart Of The Week

$AERO

Aerodrome Finance is the leading DEX and central liquidity hub on Coinbase's Base network, functioning as an AMM (automated market maker) that processes over $1b in daily volume. 

Since sweeping the July '24 lows back in April of this year, the chart has been constructive, entering into a new upward trend.

Now it seems that positive price action is accelerating, with the past two weeks gaining the Anchored VWAP from launch and now breaking out of the bullish ascending channel. 

The timing here is interesting because BaseApp is supposedly launching in the next few weeks. That's going to bring a lot of new users to the Base network, which means Aerodrome will likely see a big uptick in activity. 

More users typically means more trading volume, and that's exactly what you want to see when you're already sitting on strong technical momentum.

Looks to me like traders are front-running that narrative, and I'd be expecting this price action to continue, and perhaps even accelerate, as we get closer and closer to launch.

Buy AERO

The ETH Ecosystem Has Arrived On Spot

We are very pleased to announce the integration of the Ethereum ecosystem, adding support for every alt and meme coin on the chain.

This expansion, combined with our existing coverage of SOL and BASE tokens, BTC, and HYPE, provides users with unprecedented access to the token world.

The integration includes major DeFi protocols like $UNI and $AAVE, popular meme coins such as $PEPE and $SPX6900, and infrastructure tokens like $ARB and $MNT.

In short, y'all, we're eliminating the need for platform-hopping by giving you access to every token you could want.Read more about the integration here. 

Heaven Enters The Launchpad Wars

HEAVEN is a new AMM and launchpad on Solana designed to be the home for revenue-generating projects, positioning itself as the solution to crypto's pendulum swing between chaotic meme trading and hollow "orderly" narratives.

The platform addresses what its creators see as a critical gap in the market: the lack of infrastructure supporting legitimate projects that tie token value to actual business revenue through buyback mechanisms.

HEAVEN's core innovation is its "flywheel machine" system, where every launch gets its own flywheel address that automatically converts any revenue sent to it into token buybacks and burns.

Key features include:

• Standardized launches - All tokens launch with identical parameters (only logo, name, ticker customizable)

• Permissionless deployment - Free launches taking under 5 seconds with no restrictions 

• Anti-sniper protection - 6-second decay tax on market open to prevent exploitation 

• Revenue flywheel integration - Built-in infrastructure for automatic buybacks from protocol revenue

The platform's native token $LIGHT serves as the flagship example of their revenue-sharing model, with 100% of HEAVEN's protocol revenue (0.5% trading fees) automatically buying back and burning $LIGHT every 5 seconds.

HEAVEN implements a unique "permissionless launches, permissioned fees" structure where projects passing $100k volume are manually categorized into three groups:

• Legitimate creators (who receive 1.5% creator fees)

• Community memes (fees distributed to holders)

• Scam projects (fees redirected to $LIGHT buybacks). 

The team positions HEAVEN as the antidote to current launchpad limitations, arguing that existing platforms either focus purely on memes (Pump.fun) or deliver "vapor-ICM" without real revenue integration (Believe/Launchcoin).

Their vision centers on creating "real internet capital markets" where speculation has sustainable roots in actual business performance rather than pure attention-driven trading.

If you'd like a more in-depth view of what HEAVEN is, have a read through this article, which was written by the platform's founder, @peacefuldecay. 

Safety Shot Sees The LetsBonk Vision

Safety Shot, Inc. (Nasdaq: SHOT), a company known for its patented beverage designed to reduce blood alcohol content (need, tbh), has announced a significant strategic pivot into the digital asset space.

The company acquired a 10% revenue-sharing interest in LetsBonk, the Bonk ecosystem's token launchpad, and one of the key players in The Launchpad Wars.

This acquisition, valued at $25 million in BONK tokens, represents Safety Shot's commitment to "bridging traditional public markets with the rapidly growing decentralized finance sector." 

LOL. Just say "We want in on the meme action," bros.

LetsBonk has been on a heater lately, generating over $35 million in user fees in July 2025 alone and ranking among the top 10 most profitable decentralized applications globally.

Bing Bonk! 

The partnership goes beyond a simple investment, as Safety Shot has appointed members of BONK's founding core team, including Mitchell Rudy, to its board of directors, giving them 50% of board seats.

The company also plans to reinvest approximately 90% of its LetsBonk revenue into BONK token purchases. 

Perhaps the most interesting piece of this whole thing is that they've reserved the "BNKK" ticker symbol with Nasdaq.

What do we think they have planned for that? 

The Fed Chills On Crypto

 The Federal Reserve announced Friday that it will sunset its "novel activities supervision program."

For the uninitiated, this program was designed to "monitor banks' cryptocurrency and distributed ledger technology activities."

In short, they wanted to know wtf crypto was, and it seems they've got it figured out now. 

The Fed stated that it has gained sufficient understanding of these activities and their associated risks to integrate oversight back into its standard supervisory processes.

So, basically, the floodgates are about to open with the full embrace of crypto by all major banks.

What a time to be alive!

HMU if you have any questions, have a killer trade idea, or just want to talk shop. I'm always available at jasonk@spot.dog