Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Justin Sun Sues Bloomberg as ETH Eyes $6K Breakout

Justin Sun Sues Bloomberg as ETH Eyes $6K Breakout

CoinomediaCoinomedia2025/08/18 12:50
By:Ava NakamuraAva Nakamura

Tron’s Justin Sun files lawsuit against Bloomberg, while ETH signals a bull rally amid dwindling exchange supply.ETH Bull Flag Forms as Exchange Supply ShrinksWhat This Means for the Crypto Market

  • Justin Sun takes legal action against Bloomberg over defamation.
  • Ethereum forms bull flag pattern, aiming for $6,000 target.
  • ETH supply on exchanges drops to 12%, fueling price optimism.

Justin Sun, the founder of the Tron blockchain , has filed a lawsuit against Bloomberg, accusing the media giant of defamation. According to reports, Sun has also sought a temporary restraining order, claiming the publication misrepresented facts in its coverage of his activities and his role in the crypto industry.

This lawsuit comes amid increasing scrutiny of crypto executives by traditional media. Sun’s legal team argues that the Bloomberg article not only damaged his reputation but also misled the public. The details of the article in question and the specific legal claims remain under review, but Sun’s move marks a significant clash between a crypto heavyweight and mainstream journalism.

ETH Bull Flag Forms as Exchange Supply Shrinks

While legal sparks fly, the crypto markets are witnessing a technical pattern that has traders buzzing. Ethereum ( ETH ) has formed a classic bull flag pattern, often interpreted as a signal for a continuation of a strong upward trend. Analysts suggest that if this pattern holds, ETH could break out toward the $6,000 mark in the near term.

Adding to this bullish momentum, on-chain data reveals that ETH supply on centralized exchanges has dropped to just 12%. Historically, a lower supply on exchanges indicates that investors are opting to hold rather than sell, tightening available liquidity and often pushing prices higher.

⚡ INSIGHT: Justin Sun, founder of the Tron blockchain, has sued Bloomberg and sought a temporary restraining order, Ether bull flag targets $6K as ETH supply on exchanges falls to 12%, and other news.

Hodler's Digest via Cointelegraph Magazine pic.twitter.com/kQhGxC6fAy

— Cointelegraph (@Cointelegraph) August 18, 2025

What This Means for the Crypto Market

The combination of Justin Sun’s lawsuit and Ethereum’s bullish setup paints a dynamic picture of the crypto landscape. On one hand, legal confrontations like Sun’s can cause reputational ripples, but they also highlight the growing tensions between crypto entrepreneurs and legacy institutions. On the other, Ethereum’s technical strength and dwindling exchange supply signal growing investor confidence and long-term commitment to major assets.

Whether Sun’s legal battle influences public perception or Ethereum’s bull flag leads to a price breakout, both stories underscore how the crypto world is maturing — legally, financially, and technically.

Read also:

  • Best Cryptos to Buy Today: BlockDAG, TRX, Sui & HYPE Are Heating Up
  • Biggest ETH & Altcoin Breakout in 6 Years Begins
  • Crypto Fear & Greed Index Drops to 60
  • Amdax Launches AMBTS to Secure 1% of Bitcoin Supply
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!