Anbruggen Capital Crypto Pulse

Latest News

Metaplanet buys additional 775 BTC for $93 million, lifting total holdings to 18,888 bitcoin

• The Japanese investment firm disclosed Monday, August 18, an additional purchase of 775 BTC for about $93 million.
• It now holds 18,888 BTC, valued at about $2.2 billion at current market prices.

Our Take: Metaplanet, touted as the Microstrategy of Japan, is able to effectively execute its Bitcoin accumulation strategy for its corporate treasury, and we expect them to continue doing so, especially as its stock price has been benefitting well from the Bitcoin bull run.

'Self-dealing, dressed up as capital deployment': Crypto treasury craze divides the industry

• Altcoin digital asset treasuries (DATs) are raising billions of dollars from investors with the hopes of promoting specific tokens while turning a profit using publicly traded companies.
• Supporters say DATs will boost visibility, token adoption, and returns; critics see troubling optics that suggest major holders are quietly engineering a cash-out.

Our Take: DATs are a welcome source of capital for the cryptocurrency industry, but this does not mean that every altcoin that has a DAT is an automatic buy. The success of the DAT company will still rely on the quality of its underlying asset. Cryptocurrency fundamentals remain the north star even in this “DAT meta” and we in Anbruggen specialize in this aspect.

Bitwise CIO outlines four catalysts the crypto market hasn’t priced in, from government bitcoin buys to ‘ICOs 2.0’

• Crypto is booming amid positive regulation, corporate acquisitions, compounding ETF inflows, and renewed Ethereum momentum.
• However, according to Bitwise CIO Matt Hougan, there are still major developments the market hasn’t fully priced in, and they could push prices substantially higher.

Our Take: Matt Hougan has highlighted three potential catalysts for further crypto upside, namely – Government Buying of Bitcoin, More Aggressive Rate Cuts, and Higher Institutional Investment. While we echo these views, we remain vigilant in monitoring prevailing market risks for our clients, while ensuring we are also positioned to capture upside.

 

Global Macro View

The Federal Reserve held rates steady at 4.25–4.50% during its July 29–30 meeting. This was followed by the release of July Nonfarm Payrolls at 73,000, which was below the 100,000 Dow Jones estimates, with June and May totals revised sharply lower, down by a combined 258,000 from previously announced levels. July CPI was also lower than expected, settling at 2.7% on an annual basis, and while the latest PPI report was hotter than expected, markets are still pricing in a September rate cut. We remain cautiously bullish as long as Fed rate cut expectations remain anchored to two times for the remainder of the year and global liquidity continues to rise.

 

Chart: BTC (in orange) with global m2 liquidity (in green) showing high price correlation

Crypto Spotlight

Ethereum (ETH): +17.17% against BTC this August

Ethereum has been a notable outperformer for the month, outperforming BTC by 17.17% as of writing. Renewed focus by the Ethereum Foundation to scale the L1 and high institutional demand from Spot ETFs and Digital Asset Treasury companies such as SBET and Tom Lee’s BMNR should continue to contribute to ETH’s bullishness until the year end.

Chart: Binance ETH/BTC, MTD

 

Chartbook (at the time of writing)

Bitcoin (BTC)

BTC is at $115,500, with resistance at $123,250 (recent new ATH attempt) and $112,000 serving as crucial support.

 

Ethereum (ETH)

ETH has been in a tear recently, reclaiming its important $4,000 level and almost reached its historical ATH. $4,000-$4,1000 should serve as decent support for the #2 crypto with $4,868 ATH price as its next resistance.

 

Solana (SOL)

SOL is currently trading at around $181 and faces a lot of resistance from $206-$220. This overhang must be broken before SOL can make its way back up to its last ATH.

Looking Ahead

The crypto market’s bullish momentum, fueled by ETF inflows and institutional adoption, presents unparalleled opportunities for the remainder of 2025. Yet, crypto’s unique risks: volatility, regulatory shifts, and macro headwinds, require prudent navigation. At Anbruggen Capital, our dedicated team leverages proprietary research and disciplined strategies to seize these opportunities while managing risks. Our expertise in on-chain analytics and macro trends ensures we capture alpha in this ever evolving market. Contact us at [email protected] to explore our approach and learn how you can partner with specialists that thrive in crypto’s dynamic landscape.

 

Disclaimer: Investing in cryptocurrencies involves significant risk. Past performance does not guarantee future results. Consult a financial advisor before making investment decisions.