Bitcoin Oversold Level Hits New High Since 2020 Pandemic Crash, Analysis Suggests Potential for a $70,000 Technical Rebound

U.S. reports on the 11th indicate that the U.S. government has revoked an order banning the short-video social platform TikTok on federal government devices, as TikTok's U.S. business restructuring no longer poses a national security threat. The White House Office of Management and Budget revoked the 2023-issued ban in a memo on the 10th. Prior to this, the U.S. Department of Justice issued a written opinion concluding that TikTok is no longer a regulated application as defined in relevant laws. Since the end of 2022, the U.S. federal government and multiple states have banned TikTok on government electronic devices under the pretext of so-called "data security". (via CCTV News)

CryptoQuant analyst Axel Adler Jr. wrote in a post that Bitcoin’s current volatility has compressed to an extremely low level, with no clear market direction emerging for now. The Bollinger Band width is currently around 3.8% to 3.9%, one of the lowest levels in the past two years, compared to double-digit levels in early July. He noted that a sharp contraction of the Bollinger Bands typically signals the market entering a consolidation phase before volatility expansion, though the indicator alone cannot determine the direction of the next price move. In terms of trend strength, Bitcoin’s Average Directional Index (ADX) has dropped to 11, near recent lows and well below the 25 threshold his model uses to confirm a trend. The TrendActive indicator remains inactive, with neither bullish nor bearish signals triggered; the last directional signal in early July was bearish, but the current market structure no longer supports that signal. Adler stated that for the market to enter a new trend phase, the Bollinger Band width needs to expand again from its current compressed state, alongside the ADX breaking above 25. The direction can then be judged based on the relationship between the Positive Directional Indicator (+DI) and Negative Directional Indicator (-DI): if either leads by more than 5 points, a corresponding bullish or bearish signal may be triggered. He believes Bitcoin is still in a consolidation phase, with low volatility and trend strength, and the risk of short-term false breakouts remains. The current structure increases the likelihood of significant volatility expansion ahead, but it is still impossible to determine whether the price will eventually break out upward or downward.

According to Yonhap News Agency, South Korea’s Financial Services Commission (FSC) approved relevant rule amendments on August 12, which will take effect on August 19 to further strengthen price deviation rate management for ETFs and ETNs, and expand simulation trading requirements to single-stock leveraged products (including inverse products) listed domestically and overseas. The new rules tighten the price deviation rate standards for securities firms on all ETFs and ETNs: from 3% for domestic products and 6% for overseas products to 2% and 5% respectively. For liquidity providers that intentionally, due to gross negligence, or repeatedly violate management obligations, the Korea Exchange plans to restrict their new liquidity provision business. Starting August 19, individual retail investors making their first investment in single-stock leveraged products listed in South Korea or overseas must complete free simulation trading first. Investors need to finish at least 5 trading days of simulation sessions, each lasting over 1 hour, totaling no less than 5 hours, to experience the negative compound interest effect of leveraged products and the actual trading environment. The FSC noted that it had already raised the basic margin for single-stock leveraged products to 30 million won in cash on July 31, and trading volume of these products dropped to less than one-fifteenth of the previous day’s level that same day. The regulatory authorities added that while recent stock market volatility has eased, unstable factors remain, and they will continue monitoring the market and rolling out follow-up measures.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a newly created wallet purchased approximately $7.31 million worth of ETH over the past hour. The address 0x856…3cD9F withdrew stablecoins from Binance an hour ago, then used CowSwap to acquire 3,877.67 ETH in batches at an average price of $1,886.55. The address has since transferred all of its ETH to 0xC32…D64f9.

Binance bStocks shared a post stating "Almost time." The accompanying image in the post displays the date August 13, 2026, teasing that an important announcement could be released tomorrow.

According to CNBC, Norway’s $2.34 trillion sovereign wealth fund generated over $182 billion in profits in the first half of the year, marking a new historical high for the same period, with an investment return rate of 9.4%. Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), which manages the fund, said the strong performance was mainly driven by robust stock market results, particularly gains in Asian tech stocks. In its latest half-year report, the fund disclosed its stake in SpaceX for the first time: it holds approximately 0.05% of SpaceX, worth just over $1.2 billion as of June 30. By contrast, the fund holds around 1.3% of Nvidia’s shares, valued at $61.8 billion, and roughly 1.2% of Apple’s stock, worth $52.7 billion. Established in the 1990s, Norway’s sovereign wealth fund is primarily funded by the country’s oil and gas revenues. It currently invests in over 7,000 companies across more than 50 countries globally, holding about 1.5% of all global listed companies’ shares. Equities make up more than two-thirds of its overall portfolio, with U.S. stocks accounting for roughly 40% of the total.