Bitcoin options recently expired, and the cryptocurrency has only dropped by 0.6% to nearly $107,000. This stability is reflected in the low volatility of bitcoin, with Deribit’s BTC Volatility Index hitting...
Bitcoin options recently expired, and the cryptocurrency has only dropped by 0.6% to nearly $107,000. This stability is reflected in the low volatility of bitcoin, with Deribit’s BTC Volatility Index hitting its lowest level since late 2023. However, the broader crypto market, as indicated by the CoinDesk 20 index, is down 1.2%.
Deribit’s Chief Commercial Officer, Jean-David Péquignot, mentioned that the reduced volatility in bitcoin could be a signal that the market is gaining confidence in its role as a macro-hedge. Geopolitical tensions may have eased temporarily, but investors are still cautious and monitoring economic indicators like the U.S. personal consumption expenditures report for directional clues.
The market seems to be in a wait-and-see mode, with potential external catalysts like the NATO-Russia tensions having the potential to test the market’s resilience. Additionally, the anticipation of the U.S. Federal Reserve possibly announcing a successor to Fed Chair Jerome Powell led to a decline in the U.S. dollar index.
Equity markets, on the other hand, have been performing well, especially in Asia, which hit a three-year high amidst optimism over U.S.-China rare-earth trade agreements. However, the focus remains on the upcoming U.S. PCE report, which could impact the trend and potential rate cut decisions for July.
Looking ahead, the crypto market is gearing up for the introduction of spot-quoted futures by CME Group and Coinbase Derivatives launching perpetual-style crypto futures in the U.S. All eyes are also on several macroeconomic events and governance votes happening in the crypto space.
Stay tuned for more updates on market movements and token launches to make informed decisions in the evolving crypto landscape.
By James Van Straten (All times ET unless indicated otherwise) Bitcoin treasury-holding companies are an essential factor driving momentum as the largest cryptocurrency by market cap hovers just below the $110,000...
By James Van Straten (All times ET unless indicated otherwise)
Bitcoin treasury-holding companies are an essential factor driving momentum as the largest cryptocurrency by market cap hovers just below the $110,000 mark, showing a 2% increase in the past 24 hours and standing just 2% away from its previous record high set last month.
Despite this, Bitcoin is lagging behind the broader market, as indicated by the CoinDesk 20 Index, which has grown by 3.4%, and Ethereum (ETH), which has surged by over 6%, according to CoinDesk data.
As per BitcoinTreasuries.net, the number of publicly listed companies holding Bitcoin as a treasury asset has climbed to 126, marking a growth of 22 within a month. Together, these companies possess approximately 819,000 BTC, representing a 3.25% increase during the same timeframe.
Insights from Matthew Sigel, who serves as the head of digital assets research at VanEck, emphasize the escalating institutional interest in Bitcoin. He highlights that companies such as Strategy (MSTR), Cantor Equity Partners (CEP), Asset Entities (ASST), Semler Scientific (SMLR), Kindly (NAKA), and Trump Media & Technology Group (DJT) have a combined capital-raising potential of $76 billion. This sum accounts for 56% of the assets under management of all Bitcoin ETFs and 169% of the total net inflows into these ETFs over the past 16 months.
Further displaying institutional support, BlackRock’s iShares Bitcoin Trust (IBIT) has achieved a significant milestone by becoming the fastest fund to exceed $70 billion in assets under management, achieving this feat in just 341 days. This surpasses the previous record held by SPDR Gold Shares (GLD) which took 1,691 days. IBIT experienced $2.7 billion in trading volume on Monday alone, positioning it as the sixth highest in daily volume among all ETFs.
However, institutional influence is not the only factor impacting Bitcoin. A recent Telegram note from QCP Capital pointed out one-year lows in implied volatility and a trend of subdued price action, highlighting that Bitcoin has been “stuck in a tight range” as the middle of the year approaches. The note mentions that a decisive break below $100,000 or above $110,000 is necessary to reignite broader market interest.
Looking ahead, U.S. Consumer Price Index (CPI) data set to release on Wednesday and any updates from the U.S.-China trade discussions in London may provide clearer market direction. It’s advised to stay vigilant!
In the realm of cryptocurrency, some key events to watch include:
– June 10: U.S. House Financial Services Committee hearing for Markup of Various Measures, including the crypto market structure bill, the Digital Asset Market Clarity (CLARITY) Act.
– June 11: Stratis (STRAX) activates a mainnet hard fork at block 2,587,200 to enable the Masternode Staking protocol.
– June 12: Coinbase’s State of Crypto Summit 2025 (New York). Livestream link available.
– June 16: 21Shares executes a 3-for-1 share split for ARK 21Shares Bitcoin ETF (ARKB), with ticker and NAV remaining unchanged.
– June 16: Brazil’s B3 exchange launches USD-settled ether (0.25 ETH) and solana (5 SOL) futures contracts, approved by Brazil’s securities regulator.
Stay informed and watch out for these upcoming events in the crypto space.
Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and...
Good Morning, Asia. Here’s what’s making news in the markets:
Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.
Bitcoin is trading below $110,000, changing hands at $109.7K, as Asia continues its trading week.
The move challenges a prevailing market narrative of summer stagnation, coming on the heels of a note from QCP Capital that emphasized suppressed volatility and a lack of immediate catalysts.
A recent Telegram note from QCP pointed to one-year lows in implied volatility and a pattern of subdued price action, noting that BTC had been “stuck in a tight range” as summer approaches.
A clean break below $100K or above $110K, they wrote, would be needed to “reawaken broader market interest.”
Even so, QCP warned that recent macro developments had failed to spark directional conviction.
“Even as US equities rallied and gold sold off in the wake of Friday’s stronger-than-expected jobs report, BTC remained conspicuously unmoved, caught in the cross-currents without a clear macro anchor,” the note said. “Without a compelling narrative to spark the next leg higher, signs of fatigue are emerging. Perpetual open interest is softening, and spot BTC ETF inflows have started to taper.”
That context makes the current move all the more surprising.
Over the weekend, Bitcoin surged 3.26% from $105,393 to $108,801, with hourly volume spiking to 2.5x the 24-hour average, according to CoinDesk Research’s technical analysis model. BTC broke decisively above $106,500, establishing new support at $107,600, and continued upward into Monday’s session, reaching $110,169.
The breakout coincides with a tense macro backdrop: US-China trade talks in London and a $22 billion U.S. Treasury bond auction later this week have injected uncertainty into global markets. While these events could drive fresh volatility, QCP cautioned that recent headlines have mostly led to “knee-jerk reactions” that quickly fade.
The question now is whether BTC’s move above $110K has true staying power, or whether the rally is running ahead of the fundamentals.
A ‘Massive Shift’ in Institutional Staking May Drive ETH’s Next Rally
Ethereum’s critics have long highlighted centralization risks, but that narrative is fading as institutional adoption accelerates, infrastructure matures, and recent protocol upgrades directly address past limitations.
“Market participants will pay for decentralization because it’s in their economic interest from a security and principal protection standpoint,” Mara Schmiedt, CEO of institutional Ethereum staking platform Alluvial, told CoinDesk. “If you look at [decentralization metrics] all of these things have massively improved over the last couple of years.”
There’s currently $492 million worth of ETH staked by Liquid Collective – a protocol co-founded by Alluvial to facilitate institutional staking
While this figure may appear modest compared to Ethereum’s total staked volume of around $93 billion, what’s interesting is that it originates predominantly from institutional investors.
“We’re really on the cusp of a truly massive shift for Ethereum, driven by regulatory momentum and the ability to unlock the advantages of secure staking,” she noted.
Central to Ethereum’s institutional readiness is the recent Pectra upgrade, a significant development Schmiedt describes as both “massive” and “underappreciated.”
“I think Pectra has been a massive upgrade. I actually think it’s been underappreciated, just in terms of the tremendous amount of change it introduces into the staking mechanics,” Schmiedt said.
Additionally, Execution Layer triggerable withdrawals—a key component of Pectra—provide institutional participants, including ETF issuers, a crucial compatibility upgrade.
This feature enables partial validator exits directly from Ethereum’s execution layer, aligning with institutional operational requirements such as T+1 redemption timelines.
“EL triggerable withdrawals create a much more effective path to exit for large-scale market participants,” Schmiedt added.
Ultimately, Schmiedt said, “I think we’ll see that a lot more [ETH] in institutional portfolios going forward.”
News Roundup
Trump Media May Be the Cheapest Bitcoin Play Among Public Stocks, NYDIG Says
Trump Media (DJT) may be one of the cheapest ways to get bitcoin exposure in public markets, according to a new report from NYDIG, CoinDesk recently reported.
As a growing number of companies adopt MicroStrategy’s strategy of stacking BTC on their balance sheets, analysts are rethinking how to value these so-called bitcoin treasury firms.
While the commonly used modified net asset value (mNAV) metric suggests that investors are paying a premium for BTC exposure, NYDIG’s Greg Cipolaro argues mNAV alone is “woefully deficient.” Instead, he points to the equity premium to NAV, which factors in debt, cash, and enterprise value, as a more accurate gauge.
By that measure, Trump Media and Semler Scientific (SMLR) rank as the most undervalued of eight companies analyzed, trading at equity premiums of -16% and -10% respectively, despite both showing mNAVs above 1.1. In other words, their shares are worth less than the value of the bitcoin they hold.
That’s in stark contrast to MicroStrategy (MSTR), which rose nearly 5% Monday as bitcoin crossed $110,000, while DJT and SMLR remained mostly flat—making them potentially overlooked vehicles for BTC exposure.
Circle Stock Nearly Quadruples Post-IPO as Bitwise and ProShares File Competing ETFs
Two major ETF issuers, Bitwise and ProShares, filed proposals on June 6 to launch exchange-traded funds tied to Circle (CRCL), whose stock has nearly quadrupled since its IPO late last week, CoinDesk previously reported.
ProShares is aiming for a leveraged product that delivers 2x the daily performance of CRCL. At the same time, Bitwise plans a covered call fund that generates income by selling options against held shares, two very different ways to capitalize on the stock’s explosive rise.
CRCL surged another 9% Monday in volatile trading, continuing to draw interest from both traditional finance and crypto investors. The proposed ETFs have an effective date of August 20, pending SEC approval. If approved, they would further blur the lines between crypto and conventional finance, giving investors new tools to play one of the hottest post-IPO names of the year.
Market Movements:
BTC: Bitcoin is trading at $109,795 after a 3.26% breakout fueled by institutional buying, elevated volume, and macro uncertainty from US-China trade talks and an upcoming $22B Treasury auction.
ETH: Ethereum rebounded 4.46% from a low of $2,480 to close at $2,581, with strong buying volume confirming support at $2,580 and setting up a potential breakout above $2,590.
Gold: Gold is trading at $3,314.45, edging up 0.08% as investors watch US-China trade talks in London and a subdued dollar keeps prices attractive.
Nikkei 225: Asia-Pacific markets rose Tuesday, with Japan’s Nikkei 225 up 0.51%, as investors awaited updates from ongoing U.S.-China trade talks.
S&P 500: The S&P 500 closed slightly higher Monday, boosted by Amazon and Alphabet, as investors monitored U.S.-China trade talks.
NEAR Protocol is currently facing challenges amidst the uncertain global economic climate, with its price being influenced by the overall market volatility. In the past 24 hours, the cryptocurrency has shown...
NEAR Protocol is currently facing challenges amidst the uncertain global economic climate, with its price being influenced by the overall market volatility. In the past 24 hours, the cryptocurrency has shown a trading range between $2.38 and $2.49, reflecting the turmoil in the traditional markets. The escalating trade tensions between the US and China are particularly affecting technology-focused assets like NEAR, while potential rate cuts by the European Central Bank and conflicts in the Middle East are further contributing to the market complexity and fluctuations in NEAR’s price.
In terms of technical analysis:
– A high-volume support zone has been formed between $2.38 and $2.40, with consistent buyer intervention during specific timeframes.
– A descending resistance trendline has been established after reaching $2.481, indicating ongoing bearish momentum.
– There was a bullish surge from $2.399 to $2.439 in the final hour, with resistance breakthroughs at key levels.
– Despite a sharp pullback, there was a recovery suggesting strong support at the $2.400 level.
– Price stabilization in a narrower range indicates potential upward movement if volume support continues.
Please note that parts of this article were generated using AI technology.
The markets turned red on Friday as renewed tariff concerns weighed on investor sentiment. Bitcoin BTC dropped by 2.1% in the last 24 hours, trading slightly above $104,000 after hitting a...
The markets turned red on Friday as renewed tariff concerns weighed on investor sentiment. Bitcoin BTC dropped by 2.1% in the last 24 hours, trading slightly above $104,000 after hitting a low of $103,900. The CoinDesk 20 index, which tracks the top 20 cryptocurrencies by market capitalization excluding stablecoins, memecoins, and exchange coins, also fell by 4.2%.
Smart contract platforms like solana SOL, sui SUI, and avalanche AVAX experienced significant losses, dropping by 6.3%, 7.8%, and 7.3% respectively. Crypto stocks were not immune to the downturn, with Bitdeer (BTDR) falling by 8.3% and companies like MicroStrategy (MSTR) and Coinbase (COIN) also registering losses.
The negative sentiment extended beyond the crypto market, with the S&P 500 and Nasdaq down by 1% and 1.5% respectively, while gold prices also dipped by 0.7%.
The market downturn was attributed to escalating U.S.-China trade tensions following recent accusations made by President Donald Trump regarding China’s alleged violation of a tariff truce. Treasury Secretary Scott Bessent mentioned that talks with Chinese representatives had stalled, leading to further uncertainty.
In response, China called on the U.S. to correct its actions and cease discriminatory restrictions. The brewing trade tensions between the two countries have contributed to the recent market volatility, undoing some of the gains made earlier in the month.
The cooling off period between the U.S. and China in May had supported risk assets, including Bitcoin, which had reached new record highs. However, the re-escalation of trade tensions threatens to erode some of those gains.
For more insights, you can read about how Bitcoin whales appear to be signaling a market top as BTC prices consolidate.
The cryptocurrency market is currently displaying a mix of signals as geopolitical developments bring both opportunities and challenges for digital assets. TRON’s TRX token has shown impressive strength with a 4.8%...
The cryptocurrency market is currently displaying a mix of signals as geopolitical developments bring both opportunities and challenges for digital assets. TRON’s TRX token has shown impressive strength with a 4.8% rally over the past 24 hours, moving from $0.264 to $0.276 before a minor correction. This upward trend coincided with TRON surpassing Ethereum in USDT circulation, with $73.8 billion on TRON compared to Ethereum’s $71.9 billion.
Following the announcement of a recent trade agreement between the U.S. and China by the White House, there has been a potential easing in trade tensions, boosting market sentiment. In addition, institutional adoption of digital assets is on the rise, as seen with Coinbase being added to the S&P 500, indicating a growing mainstream acceptance of cryptocurrencies.
Some key technical analysis highlights for TRX include the token climbing from $0.264 to a peak of $0.276 with strong volume at breakout points. There was notable buying pressure at $0.265 during specific trading sessions, as well as resistance around $0.275. Despite a slight pullback, consistent higher lows suggest continued bullish momentum.
Disclaimer: The information in this article was created using AI tools and reviewed by our editorial team for accuracy. For more details, please refer to our standards and AI Policy. External references for this article can be found in the sources below.
The gold market is experiencing a shift in activity, as central bank buying slows and demand from exchange-traded funds and gold-backed cryptocurrencies increases. In fact, the net minting volume for tokens...
The gold market is experiencing a shift in activity, as central bank buying slows and demand from exchange-traded funds and gold-backed cryptocurrencies increases. In fact, the net minting volume for tokens backed by gold recently reached a three-year high, with over $80 million worth of tokens minted in the past month.
According to data from rwa.xyz, this surge in token minting has boosted the market cap of the sector by 6% to $1.43 billion. Additionally, monthly transfer volume has seen a 77% increase to $1.27 billion, indicating a renewed interest in digital representations of gold.
This increase in token activity aligns with a broader trend in the gold market. The World Gold Council’s latest report reveals that total gold demand in the first quarter of the year reached 1,206 tonnes, a 1% year-over-year increase and the strongest first quarter since 2016. Despite a decrease in central bank purchases, down to 244 tonnes from 365 tonnes in the previous quarter, gold ETFs have seen investment demand more than double to 552 tonnes.
This shift towards gold ETFs has contributed to the rise in the average quarterly price of gold, which reached a record $2,860 per ounce, up 38% from the previous year. However, the price experienced a slight dip of 2.35% last week, following a year-to-date increase of 23.5%, while risk assets like cryptocurrencies have risen. Currently, spot gold is trading at $3,240.
Although traditional gold demand, particularly in jewelry, has decreased to pandemic-era lows, demand for bars and coins remains strong, especially in China.
Overall, the increase in tokenized gold reflects a growing interest in the precious metal as a safe haven asset, particularly in light of tariff fears and market uncertainty.
Bitcoin (BTC) is currently trading above $97,000 in the Asian markets as there is a sense of relief following reports that the U.S. and China are working towards a trade deal....
Bitcoin (BTC) is currently trading above $97,000 in the Asian markets as there is a sense of relief following reports that the U.S. and China are working towards a trade deal. However, there is skepticism in the market regarding the likelihood of a deal being reached this month.
According to China state media, the U.S. has initiated discussions with China on the issue of tariffs. Meanwhile, Dogecoin (DOGE) saw the highest gains among major cryptocurrencies with a 4% increase in the past 24 hours. Other cryptocurrencies such as Cardano’s ADA, XRP, Ether (ETH), and BNB also experienced gains between 1-3%.
There was a notable decline in Movement’s MOVE token price, dropping by 21% as founder Rushi Manche was suspended following a token manipulation scandal revealed by a recent exposé.
On Polymarket, bettors are not optimistic about a trade deal being reached this month between the U.S. and China, giving it only a 20% chance of happening by June. The market is cautious due to the hawkish rhetoric coming from the White House.
Market observers believe that with the current positive trend in other crypto metrics, the possibility of Bitcoin reaching $100,000 is within reach. This optimism is reinforced by Strategy’s continued Bitcoin purchases and efforts towards further institutionalization.
Kava Labs reaching a milestone of 100K users for its decentralized AI platform has also had a positive impact on Artificial Intelligence (AI) tokens in the market, with a 3% increase. Users are recognizing the value of decentralized and transparent AI systems, moving away from centralized models controlled by a few corporations.
Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its...
Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its low of $140 on April 30 to around $152, alongside a 35% increase in daily trading volume. This resilience comes at a time when US-China trade relations are deteriorating, impacting both traditional and digital asset markets.
In the broader context, the CoinDesk 20 Index also saw a 4% increase on Thursday.
Key highlights from the technical analysis of SOL include a recovery from a 7.4% correction on April 30, establishing strong support at 140.65 and reaching new period highs at 152.69. The trading range of 12.04 points reflects volatility, with volume analysis showing increased trading during the correction followed by sustained buying interest during the recovery.
Recent price action suggests an ascending channel with resistance at 152.50 and key support at the 148.50-149.50 zone. Bullish momentum seems sustainable with higher lows indicating potential movement towards the 155.00 psychological level. Notably, SOL experienced significant volatility within a short timeframe, but key support was established at 151.10 with strong institutional interest observed during mid-session rally.
Please note that this article was written with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, refer to CoinDesk’s full AI Policy. We have also included information from external sources for reference:
– NewsBTC, Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?, published on April 30, 2025.
– NewsBTC, Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level, published on April 29, 2025.
– Cointelegraph, Why is Solana (SOL) price up today?, published on April 17, 2025.
– CryptoPotato, Tension Builds: Solana (SOL) on the Verge of a Huge Move?, published on April 30, 2025.
Over the past 24 hours, futures bets against higher crypto prices saw losses totaling over $500 million as a strong surge, potentially fueled by a U.S. decision to possibly ease China...
Over the past 24 hours, futures bets against higher crypto prices saw losses totaling over $500 million as a strong surge, potentially fueled by a U.S. decision to possibly ease China tariffs, resulted in the largest short liquidations since October.
Bitcoin (BTC) rallied from a low of $88,000 on Tuesday to above $93,500 during the Asian morning hours, leading a broader market jump with ether (ETH), Cardano’s ADA, and dogecoin (DOGE) all seeing a 14% increase. Solana’s SOL and XRP also rose by 7%, with all top hundred tokens by market cap showing gains.
Additionally, tokens like Sui Network’s SUI, UniSwap’s UNI, and Near Protocol saw strong gains of up to 18%. Memecoin mog (MOG) surged by 30%, continuing its trend of moving in sync with ETH.
Shorts worth nearly $530 million suffered losses as leveraged bets were unwound, with most short liquidations occurring on Bybit at $234 million, followed by Binance at $100 million and Gate at around $70 million. The largest single liquidation order involved an ETH futures position on Binance, valued at over $4.5 million.
Liquidations happen when an exchange closes a trader’s leveraged position due to a loss of the initial margin. This occurs when a trader doesn’t have enough funds to maintain the trade open.
The spike in crypto markets coincided with Trump’s comments about being open to positive trade talks with China and the possibility of reducing tariffs if a deal is reached. This news helped ease some of the cautious sentiment among traders.
Jeff Mei, COO at BTSE, shared his thoughts on the situation, mentioning the potential for rate cuts and a weakening U.S. dollar, which could explain the surge in bitcoin. If the U.S. dollar continues to depreciate, bitcoin may become a significant store of value as other currencies could also face depreciation.
Overall, the recent market movements reflect a mix of geopolitical factors and investor sentiment, pointing towards a potentially interesting period for the cryptocurrency market.
