Happy Thursday!

Bitcoin is consolidating around $107,000, and analysts remain cautiously optimistic about the next quarter: here’s what will drive the market in Q3.

Coinbase is the ‘Amazon of crypto’, according to Bernstein analysts, who have substantially raised their COIN price target: why are they so bullish on COIN?

Plus, if you’re interested in an actively-managed ETF that offers you direct access to an asset class long favored by institutions for its balance of income and stability, check out today’s sponsor.

TOP STORY

Bitcoin Consolidating At $107,000: Here's What Will Drive The Market In Q3

Cryptocurrency analysts remain cautiously optimistic about Bitcoin despite recent Middle East volatility, with technical levels holding and halving cycle patterns suggesting potential upside ahead.

In a new market analysis published on Wednesday, crypto analyst DonAlt expressed cautious optimism on Bitcoin’s performance.

Another prominent analyst highlighted that 2025 is tracking more like the 2017 bull run than 2021, particularly when looking at halving cycle behavior.

What are the analysts expecting for the next quarter?

Read the full scoop here.

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QUICK N DIRTY

Bitcoin, Ethereum, XRP and Dogecoin are consolidating their gains, with geopolitical fears firmly in the rearview mirror — what’s driving the market today?

Metaplanet aka ‘Asia’s MicroStrategy’ bought another batch of Bitcoin, and ETFs have now extended their inflow streak to 12 days: how long can the corporate craze go on?

XRP remains stuck below $2.20 and still trades in the established range. Why is it not moving?

FINTECH FOCUS

Coinbase Is The 'Amazon Of Crypto Services', Price Target Boosted To $510: Bernstein

Bernstein analysts have raised their price target for Coinbase Global Inc. to $510, citing accelerating growth in the company’s derivatives business and non-trading revenue streams.

The updated price target marks a significant jump from the previous $310 target, reflecting Bernstein’s increased confidence in Coinbase’s evolving position as a leading crypto financial services platform.

Why has Bernstein dubbed Coinbase the ‘Amazon of crypto’?

Read the full scoop here.

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Disclaimer: Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. Contact us at 1-888-383-0553 or visit www.virtus.com for a copy of the Fund's prospectus. Read the prospectus carefully before you invest or send money.

Exchange-Traded Funds (ETF): The value of an ETF may be more volatile than the underlying portfolio of securities it is designed to track. The costs to the portfolio of owning shares of an ETF may exceed the cost of investing directly in the underlying securities. Preferred Stocks: Preferred stocks may decline in price, fail to pay dividends, or be illiquid. Leverage: When the Fund leverages its portfolio, the Fund may be less liquid and/or may liquidate positions at an unfavorable time, and the value of the Fund’s shares will be more volatile and sensitive to market movements. Non-Diversified: The portfolio is not diversified and may be more susceptible to factors negatively impacting its holdings to the extent the portfolio invests more of its assets in the securities of fewer issuers than would a diversified portfolio. Market Price/NAV: At the time of purchase and/or sale, an investor’s shares may have a market price that is above or below the fund’s NAV, which may increase the investor’s risk of loss. Market Volatility: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Local, regional, or global events such as war or military conflict, terrorism, pandemic, or recession could impact the portfolio, including hampering the ability of the portfolio’s manager(s) to invest its assets as intended. Prospectus: For additional information on risks, please see the fund’s prospectus. PFFA, PFFR, and AMZA are distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.