Bitcoin faced a bearish sentiment shift for the first time since mid-2023, following a brief spike to $144,700. Notably, tokens like DOGE, XRP, and SOL also saw declines, while Ethereum displayed more resilience. Analysts remain bullish on Bitcoin's long-term prospects, citing structural support due to Donald Trump's backing of crypto in 401(k) plans. Meanwhile, YZY Money, a new Solana-based token associated with Kanye West, surged by 6,800% before falling below $1. This speculative launch raised concerns over insider trading, as notable profits were recorded by early investors shortly after the token's release. Wallet data indicated significant profits for insiders, highlighting risks for retail investors who lost substantial amounts due to volatility. In derivatives, Bitcoin and Ethereum futures experienced stalled open interest, suggesting a shift in institutional interest, particularly towards Ethereum. Overall, the market is grappling with mixed sentiments as it approaches major economic events like the Jackson Hole confab, with traders cautious amid fluctuating prices.

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