Official Trump token holds on at $8.5: What’s next as bears stay in control?

ambcryptoPublished on 2025-08-04Last updated on 2025-08-04

Key Takeaways

The Official Trump memecoin was in a severe downtrend, but has bounced higher from the $8.5 support level and could climb back above $9, initiating a recovery and a push toward the $11.5 resistance.

Trump Media formally outlined its intention to launch a Truth-branded utility token. This proposed token would be part of the larger rewards program.

This is integrated into a Truth digital wallet, initially allowing users to make Truth+ subscriptions.

The company avoided using the term cryptocurrency, but it was strongly implied that blockchain infrastructure would be used.

The US President has already received criticism regarding the Official Trump [TRUMP] token. How is the original memecoin doing?

Trump token is likely to begin to trend higher now

Source: TRUMP/USDT on TradingView

Official Trump has tested the $8.5 support zone once again. Over the weekend, following the drop to $8.5, the price has bounced to $8.89 at press time.

However, the market structure was firmly bearish, and a move above the $10.5 local high is necessary to flip the structure bullishly.

Zooming out, AMBCrypto found that the memecoin has been unable to break the $11 level since early June. Conversely, the $8.5 demand zone has been defended steadily.

This meant that the Trump token offered a good buying opportunity, targeting the $10.5 resistance.

The OBV has fallen slightly lower, while the RSI’s reading of 39 reflected bearish momentum. While this indicated we should expect the downtrend to continue, traders can be confident of buying Official Trump.

They should expect the range formation to continue, until it is decisively broken. Such a break has not yet materialized.

Source: TRUMP/USDT on TradingView

The dotted yellow line at $8.95 was the local lower high for TRUMP bulls to breach. The market structure on the 4-hour chart remained bearish, but a move past $8.95 could change this.

The CMF readings have been above +0.05 since the 1st of August.

This signaled buying pressure, reinforcing the idea the swing traders can look to buy. Overall, the bullish idea has a clear invalidation- a drop below $8.5.

The reward outweighed the risk, especially if Official Trump can climb past $8.95.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Subscribe to our must read daily newsletter

Whale bets $70M on Bitcoin, Solana recovery – Will Fed’s hike fears ruin it?

A whale increased its long positions in Bitcoin and Solana with a $70M bet, and opened a $78M total position including a short on Hyperliquid (HYPE). The move followed a weak U.S. jobs report, which fueled a relief rally in crypto markets by easing fears of Federal Reserve rate hikes. The whale initially saw an unrealized profit of $9.2M. However, Fed rate expectations did not shift significantly toward cuts; markets still price an 83% chance rates remain unchanged. Upcoming FOMC meeting minutes could trigger volatility. The whale's position is already under pressure, with the HYPE short down 70%. Meanwhile, smart money increased bidding on Solana by 129%, but Bitcoin faces heavy short positions near $62K, setting up potential for a short squeeze. For a sustained recovery, Bitcoin must clear resistance at $62.3K and $65K. Overall, the market's direction hinges on the Fed's signals and whether hawkish hints could renew selling pressure.

ambcrypto29m ago

Whale bets $70M on Bitcoin, Solana recovery – Will Fed’s hike fears ruin it?

ambcrypto29m ago

77 Bloody Codes: When the '$5 Wrench' Shatters the Privacy Myth of France's Crypto Elite

**Summary** In the first half of 2026, France recorded 77 violent crimes—including kidnappings, illegal confinement, and extortion—targeting cryptocurrency holders, a 71% increase over the 45 cases in all of 2025. This equates to an attack every 2.3 days, making France a global hotspot for so-called "wrench attacks," where criminals use physical violence to coerce victims into surrendering crypto assets. High-profile cases include the 2025 kidnapping of Ledger co-founder David Balland, who was shown with a severed finger in a ransom video, and an attempted kidnapping of the family of Paymium's CEO in Paris. Prosecutors note these are not isolated incidents but part of structured criminal networks, sometimes involving minors. Several factors contribute to France's vulnerability: a large holder base (approx. 7.3 million people), the presence of major crypto firms and executives, a culture of public disclosure among enthusiasts, and potential data leaks. The trend is spreading across Europe, which now accounts for over 40% of such global attacks. Research indicates a correlation between Bitcoin price surges and increased wrench attacks. In response, French Interior Minister Laurent Nuñez announced a three-pillar action plan focusing on enhanced intelligence sharing, deeper cooperation with the industry association Adan, and improved operational and cross-border coordination. Authorities have made over 200 arrests in the past year. Security experts warn that digital asset safety now extends to the physical world. They advise holders to use hardware wallets, avoid disclosing holdings on social media, enable multi-factor authentication, and report suspicious activity. The situation underscores the urgent need for the crypto community to shift from a "show-off" culture to one of discretion as physical security becomes paramount.

marsbit47m ago

77 Bloody Codes: When the '$5 Wrench' Shatters the Privacy Myth of France's Crypto Elite

marsbit47m ago

Both OpenAI and Anthropic are 'Developing Their Own Chips' — Beyond Cost, the Control Over Computing Power is Paramount

OpenAI and Anthropic are both advancing plans to develop custom AI chips, driven by the need to control computing power and reduce costs. According to reports, Anthropic is in early-stage development of its own chips and in talks with Samsung for manufacturing, while OpenAI is collaborating with Broadcom and TSMC, aiming to deploy its first inference chip by late 2026. The primary motivation extends beyond just lowering expenses. For these large model companies, chips are core production assets. By designing specialized hardware (ASICs) tailored to their specific model architectures—OpenAI's being more sparse and Anthropic's more dense—they aim to achieve deeper software-hardware co-design. This synergy can significantly improve inference speed, energy efficiency, and overall unit economics, offering advantages that off-the-shelf GPUs cannot. This move does not signify an immediate replacement for suppliers like Nvidia. The process from design to deployment takes 18-24 months, and Nvidia's GPU ecosystem remains deeply entrenched. Instead, custom chips provide a strategic alternative and negotiating leverage, allowing companies to use them for specific, high-volume workloads like inference while still relying on external GPUs and TPUs for other tasks. The trend reflects a broader industry shift where AI competition is evolving from pure algorithmic prowess to integrated control over the entire software-hardware stack. Companies like Google, Amazon, Meta, and Microsoft are already on this path. For foundries like Samsung, securing orders from AI leaders like Anthropic represents a significant opportunity to expand its footprint in the advanced semiconductor market for AI. Ultimately, the race for "computing sovereignty" is now a central battleground for major AI players.

marsbit54m ago

Both OpenAI and Anthropic are 'Developing Their Own Chips' — Beyond Cost, the Control Over Computing Power is Paramount

marsbit54m ago

Crypto rules are ‘not a favor,’ says SEC, but CLARITY Act still waits

SEC Chairman Paul Atkins defended the agency's push for clear crypto market regulations, stating that providing regulatory clarity is "not a favor" but a necessary requirement for markets to function. He emphasized the SEC's "historic steps" to modernize rules in response to calls to make the U.S. a crypto capital. Despite issuing staff guidance on topics like asset classification and ETFs, the SEC acknowledges past missteps that broke trust and aims to rebuild it through an orderly process for handling numerous filings. However, such guidance, lacking a foundation in codified law, remains vulnerable to legal challenges. Lasting clarity for the industry is seen as dependent on the passage of the CLARITY Act, a comprehensive crypto market structure bill. Although the bill has cleared a key committee, it still awaits a Senate floor vote. With the EU's MiCA framework now active, industry groups are urging the U.S. to pass the CLARITY Act to prevent innovation from moving overseas.

ambcrypto1h ago

Crypto rules are ‘not a favor,’ says SEC, but CLARITY Act still waits

ambcrypto1h ago

Bearish Clouds Gather as $2.13B in Bitcoin and Ethereum Options Expire

The cryptocurrency market faced a key event on July 3 as $2.13 billion in Bitcoin and Ethereum options expired. Data revealed a defensive sentiment, especially for Ethereum, where a high put-call ratio of 1.29 indicated traders were hedging against further price drops. Bitcoin's put-call ratio was 0.70. Market positioning was concentrated near key levels of $60,000 for Bitcoin and $1,700 for Ethereum. While Bitcoin briefly reclaimed the $60,000 level, analysts remain uncertain if this signals a sustained recovery. Broader market trends, including traditional finance and tokenized stocks, are also influencing sentiment. The options data suggests traders are cautious and preparing for continued volatility rather than a major bullish move. At the time of reporting, Bitcoin traded near $61,932 and Ethereum around $1,738, both with significant liquidations over the preceding 24 hours.

TheNewsCrypto1h ago

Bearish Clouds Gather as $2.13B in Bitcoin and Ethereum Options Expire

TheNewsCrypto1h ago

Trading

Spot