China Accuses U.S. of Seizing $13B in Bitcoin, Tension Between Nations Escalates

Dogecoin is attempting to stabilize after a sharp shakeout, and one technician argues the market just telegraphed its line in the sand. In a weekly chart shared on X, independent analyst Kevin (@Kev_Capital_TA) highlights a “solid bounce” from the weekly 200-EMA and a swift move back into the year’s dominant trading range. At press time on the chart, price sits near $0.1828, with the blue 200-week moving average rising just beneath the market around the $0.16 handle.

Is This The Local Dogecoin Bottom?

Kevin’s framework is straightforward and level-driven. He points to $0.202 as the immediate pivot on a three-day closing basis. Reclaiming $0.202, he says, would put DOGE back above the macro 0.5 Fibonacci retracement and simultaneously back over the 3D 200 EMA/SMA, creating the conditions for “upward momentum” if Bitcoin also holds its own above $106,800.

The weekly 200 EMA has preserved Dogecoin’s bullish structure six separate times since last summer. It’s still rising and, for now, remains the bulls’ final line of defense. Above that, the primary framework is a tight, upward-tilting channel bounded by two yellow rails, with multiple circled touches validating both support and resistance along the way.Price printed a long downside wick into the lower rail, then bounced, effectively defending the channel and the 200-week average in the $0.16 area.

That reaction returned DOGE into the previously mapped range whose key horizontal levels are stacked in close succession: $0.24, $0.26, $0.285, and $0.305 overhead. These coincide with prior weekly turning points marked on the chart, as well as repeated taps of the rising upper trendline during the summer and early autumn.

Below, the chart calls out a sequence of backstops that matter if the bounce fades. The green horizontal sits around $0.14, with deeper weekly shelves marked at $0.09 and $0.05. That ladder of support is reinforced by remnants of an older, broader down-sloping trendline whose underside now tracks just under the recent wick; those legacy trendlines are still drawn and intersect beneath current price, explaining the aggressive bid that appeared on the weekly flush.

The upside roadmap remains equally explicit. A sustained reclaim of $0.202 on three-day closes is the trigger Kevin is watching; above that, the market confronts layered supply across $0.21–$0.24, then the more consequential range highs into $0.285 and $0.305.

Higher-timeframe Fibonacci bands and historical weekly levels continue at $0.42, $0.54, and $0.74, all plotted on the right-hand scale for context, but Kevin’s emphasis is squarely on the near-term reclaim and the moving-average confluence around $0.202.

In short, the weekly bounce off the 200-EMA (~$0.16) kept DOGE inside its year-long channel and preserved a constructive pattern of higher lows. Whether that bounce evolves into trend continuation now hinges on the $0.202 reclaim on the three-day chart—Kevin’s chosen confirmation level—and, in his view, on Bitcoin maintaining strength above $106,800.

Until then, DOGE remains range-bound, with buyers defending the lower trend line and sellers repeatedly prevailing at the upper trend line.

Via X, Kevin wrote: “Solid bounce for Dogecoin off of the weekly 200 ema back into our weekly range that we have traded in for most of the year. Along with BTC reclaiming 106.8K you want to see DOGE reclaim the .202 level on 3D closes which would get you above the macro 0.5 Fib and the 3D 200 ema/sma. For BTC and Doge that could create some upward momentum if done.”

At press time, DOGE traded at $0.17678.

Stablecoin payment company Transak has secured new state Money Transmitter Licenses (MTLs) in Iowa, Kansas, Michigan, South Carolina, Vermont and Pennsylvania, expanding its US footprint as regulatory fragmentation continues to define how crypto payment companies operate across the country, according to a Tuesday announcement shared with Cointelegraph.

The approvals bring Transak’s total to 11 licensed states, including Arkansas, Delaware, Illinois and Missouri. Each license allows the company to legally process stablecoin transactions, transmit funds, and facilitate fiat-to-crypto conversions directly with users, without relying on intermediaries.

In the US, MTLs allow companies to handle customer funds, execute value transfers and operate as regulated financial intermediaries under state supervision. 

“Every new license we secure brings us closer to a future where users can move between fiat and digital assets seamlessly and lawfully,” said Bryan Keane, Transak’s compliance officer for the Americas. 

The fragmented path to stablecoin compliance

While the licenses expand Transak’s direct reach, they also highlight the complexity of the US regulatory landscape for crypto payment providers. 

In the European Union, the Markets in Crypto-Assets Regulation (MiCA) framework allows companies to “passport” a single crypto license across all its 27 member states. 

This means that a licensed company in one member state can automatically operate across member countries without needing to reapply for approval in each jurisdiction.

The model creates a unified market for crypto services, simplifying compliance and reducing costs compared to the US’s state-by-state approach.

In the US, companies are required to secure individual MTLs in each state they operate in.

This means crypto payment providers might need 50 separate applications, each with their own requirements, timelines and fees, resulting in a patchwork of approvals that makes nationwide coverage expensive and slow. 

For Transak, its push toward direct licensing started in 2024 when it received its first state-level MTL in Alabama. The license allowed the company to operate in the state without relying on third-party providers. 

While Transak can reach users in 46 states through its partners, Transak’s move toward full licensing marks a deliberate effort toward a native, regulated payments stack. 

Transak eyes nationwide coverage

Keane told Cointelegraph that the latest state approvals are less about expanding access and more about strengthening regulatory control. 

“The state licenses we’re now securing are about deepening regulatory control, not expanding access — they give us more flexibility to innovate around upcoming stablecoin use cases and new payment flow architectures,” he told Cointelegraph.

Keane added that Transak currently has 19 additional state license applications pending and aims to achieve direct coverage across all 50 states in the next 12 to 18 months. 

He told Cointelegraph that the company remains optimistic about federal stablecoin legislation, noting that clear standards would benefit users and infrastructure providers. 

“Any framework that defines how regulated stablecoins can be issued, held, and used is a net positive,” he said, while cautioning that aligning federal and state rules could take years.

Until then, Transak plans to keep building within the existing patchwork of state frameworks rather than waiting for full federal clarity.

Trasak bets on growing stablecoin adoption

On Aug. 6, Transak became the first US crypto on-ramp to enable wire transfers. This allowed crypto users to top up their crypto accounts via wire transfers.

According to its press release, it’s preparing to launch Automated Clearing House (ACH) payments — bank-to-bank transfers used for direct deposits — to make bank transfers faster for Americans.

Transak also said the new licenses are part of its mission to make stablecoin payments “usable at scale.” The company stated that additional MTL applications are in progress as it lays the foundation for nationwide stablecoin access. 

Transak added that its compliance momentum would ensure that developers, businesses and users could participate in the next wave of stablecoin-powered cross-border payments within a lawful framework. 

While most people still associate blockchain with Bitcoin and NFTs, a Reddit thread is reminding everyone that the technology was never meant to stop there. 

In the CryptoTechnology community, users listed some underrated but powerful real-world use cases that show how blockchain could transform systems we rely on every day. 

This might spark some ideas for you!

Justice on the Blockchain

One idea that caught attention was using blockchain for judicial lotteries – assigning judges to court cases using verifiable random functions (VRF). The system would make the selection process transparent and tamper-proof, helping reduce bias in courts. 

The thread also mentioned on-chain voting and treasury tracking for public organizations. These tools could make budgeting and decision-making more transparent, giving citizens a clear look at how funds are used. 

Some users said this could help curb corruption but only if governments are willing to adopt it.

Fixing Ownership and Identity Systems

Another major theme was ownership and identity. Blockchain-based land registries could make property ownership records tamper-proof, reducing fraud and paperwork. Similarly, tokenized car or property titles could simplify transfers and prevent disputes.

Users also discussed digital IDs and on-chain credentials, where people control their own records, from education certificates to medical history. 

This could make KYC, licensing, and healthcare systems more secure and efficient.

Empowering Creators in the Digital Age

Blockchain’s use in the creative economy is one to note!

Encrypted NFTs could allow musicians, filmmakers, and artists to share their work securely – solving the “right-click-save” issue and giving creators real digital ownership.

Other examples included royalty tracking and content authenticity verification, both of which could protect artists’ earnings and fight the rise of AI-generated deepfakes.

AI, Environment, and Everyday Payments

Redditors also pointed to privacy-focused AI systems like Ocean Protocol, which let algorithms train on private data without exposing it. It’s a way to make AI development more secure and ethical.

Other ideas included carbon credit tracking, supply chain verification, and instant stablecoin payments. These applications could improve transparency in industries while cutting delays and fees.

Some users pushed the conversation even further. They talked about national digital ledgers where governments record transactions in the open, making corruption harder to hide. A few even mentioned using blockchain to make charity funds fully traceable, so donors can see exactly where their money goes.

Blockchain is an infrastructure technology that could rebuild trust in public systems, ownership, and data. The use-cases just keep continuing to present themselves!

FAQs

Blockchain can improve courts, voting, property records, digital IDs, royalties, supply chains, and even charity transparency.

By making transactions, budgets, and judge assignments tamper-proof and transparent, blockchain increases accountability in government processes.

Yes, blockchain-based digital IDs, land registries, and tokenized property titles protect records from fraud and simplify transfers.

Absolutely. Blockchain enables privacy-preserving AI, carbon credit tracking, and instant stablecoin payments for faster, transparent systems.

Bitcoin held above $105,000 on Tuesday morning as crypto markets steadied under a calmer macro backdrop, improved liquidity, and a slow revival in institutional inflows.

The largest cryptocurrency traded near $105,200, consolidating after Monday's continued rebound from the $100,000 level, which multiple analysts argue had formed a structural base from recent drawdowns. Ethereum hovered around $3,550, while Solana and BNB posted modest declines, according to The Block's prices page.

Meanwhile, the total crypto market capitalization hovered around $3.6 trillion, as risk appetite returned following the potential U.S. government reopening and positive regulatory signals for the industry.

According to BRN Head of Research Timothy Misir, this week's price action could signal the first genuine consolidation since the deleveraging wave from October and early November.

"The market's tone has shifted from fear to caution — and that often precedes resilience," Misir said. "Spot volumes are rising, leverage is being flushed out, and the structure looks cleaner. We're seeing quiet rebuilding beneath the surface."

Institutional flows signal quiet accumulation

While ETF demand remains uneven, underlying institutional crypto accumulation has picked up. BRN's analysts noted that Strive added $162 million in bitcoin, Strategy acquired another $50 million, and Bitmine increased its ETH holdings by 34%. These additions, combined with falling open interest — down 2.6% — indicate rotation from speculative leverage into spot accumulation, they said.

Such positioning typically sets the stage for sustained recoveries, with the $100,000 to $108,000 zone now likely emerging as the mid-term base, Misir said. "Momentum is building, but upside remains capped near $108,500 to $111,000 unless inflows accelerate," he noted.

Options data support that narrative of patient accumulation rather than euphoria. According to QCP Capital, traders are split on bitcoin's ability to retest all-time highs this year, with call buyers positioned near $120,000 to $150,000, and others selling upside spreads around $135,000 to $140,000. In a Nov. 10 note, the firm said that BTC markets continue to absorb legacy supply shocks from older wallets and remain structurally range-bound unless fresh inflows resume.

Rebound builds on policy clarity and macro calm

Crypto's stabilization has also coincided with a shift in global sentiment. The U.S. Senate's bill to reopen the government may soon restore fiscal operations after nearly seven weeks of shutdown, while progress on new trade frameworks with India and China cushioned risk appetite. Odds on decentralized prediction platform Polymarket show a 96% chance that the U.S. government shutdown could end this week as policymakers reached a tentative deal that now heads to the House.

Polymarket users bet on U.S. government reopening this week. Image: Polymarket.

In a parallel boost to market confidence, the U.S. Treasury and IRS issued long-awaited guidance permitting crypto exchange-traded products to stake assets and distribute rewards.

Experts said the move could accelerate institutional adoption across proof-of-stake networks like Ethereum and Solana. "This policy clarity helps legitimize staking within regulated vehicles," Misir added. "It's a structural milestone for the next wave of ETF products. ETF flows, policy support, and cleaner positioning all point to stabilization, but not breakout conditions yet."

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