Dogecoin (DOGE) fell to $0.082 on August 31, extending its weekly decline to more than 12%. Since August 21, whale holders with 1 million to 100 million DOGE have sold a combined 260 million tokens. Sell-side pressure has led the market for three straight days from August 28, with net selling totaling $21 million over that period. Futures open interest has dropped from $1.58 billion to $1.27 billion as long positions are unwound, while DOGE ETFs have logged $800,000 in net inflows since August 17.

A memecoin called BONER drove heavy weekend speculation that inadvertently absorbed about 81% of the tokenized stock supply of Hims & Hers Health (HIMS) traded on Robinhood, pushing the tokenized HIMS price above $120 even as the stock closed around $30. Major cryptocurrencies were relatively calm, with BTC and ETH ETFs posting $1.75 billion in net inflows for the week. Markets were also digesting remarks by the Fed chair at Jackson Hole that were perceived as hawkish.

Bitcoin briefly rose above $81,000 last week before pulling back, but it continued to defend the key $77,100 support level. Bitfinex said the move came even as Fed Governor Kevin Warsh’s hawkish Jackson Hole remarks lifted expectations for future rate hikes and weighed on risk assets. U.S. spot Bitcoin ETFs still saw approximately $1 billion in net inflows over the week, pointing to steady institutional demand. Markets see the ability to hold support as a sign of stronger holding appetite, though further rate-hike expectations could cap gains.

Bitfinex said Bitcoin held above $77,100 even after Federal Reserve Chair Warsh delivered hawkish remarks at Jackson Hole that lifted the probability of a September rate hike to 57%. U.S. spot Bitcoin ETFs recorded net inflows of nearly $1 billion last week, while Ethereum investment products posted 10 straight days of net inflows totaling $815.7 million. On the macro front, U.S. PCE inflation rose to 3.7% and annualized private demand growth in the second quarter was 4.2%, alongside a widening deficit of $1.8 trillion. Bitfinex said ETF activity and stablecoin liquidity continue to support prices, but rate-hike expectations are capping upside.

Ethereum is targeting the $3,500 level following a bullish technical breakout. At the same time, inflows into spot Ether ETFs have surged. Markets are watching how the combination of technical momentum and stronger fund flows could influence ETH’s near-term direction.

Sberbank, Russia’s largest bank, said it will officially accept Bitcoin as collateral for loans once Russia’s new digital asset rules take effect on September 1. The bank said Ethereum and USDT will be added to the collateral list after the central bank approves them for public circulation. Sberbank has more than 100 million customers, marking a step in Russia’s use of crypto assets in financial services.

Remarks by Fed Chair Kevin Warsh set off a large wave of liquidations in the crypto market, with total liquidations reaching $488 million. The move followed a sharp jump in expectations that the Federal Reserve could raise interest rates, putting broad pressure on risk assets. In crypto, that pressure triggered a stampede of long-position liquidations that cascaded into a chain reaction across the market.

Bitcoin fell below the $80,000 level. The move followed public remarks by Fed official Kevin Warsh pledging to tackle inflation and signaling a potentially continued restrictive policy stance, Bloomberg reported. Concerns about tighter liquidity conditions weighed on risk assets such as cryptocurrencies.