Crypto Market

BTC and ETH Market Insight

The market has been steady in its $100k-$110k range since May 8. This reflects ongoing uncertainty amid fluctuations driven by news headlines. The price is unlikely to reach new ATHs until fresh momentum and increased demand come in. BTC's market dominance surged, hitting a new high of 66.03% before retreating to 65.73%. Spot Bitcoin ETFs saw a net inflow of $228 million on Friday, making it the 13th consecutive day of net inflows.

Upcoming Macro Calendar - Source: Trading Economics

Options Market

BTC and ETH are navigating a turbulent landscape driven by geopolitical uncertainty and evolving regulations. A recent spike in geopolitical tensions briefly pushed BTC below $100,000 and ETH below $2,200 for the first time since early May. Both assets quickly rebounded, with prices now stabilizing at current levels. The initial dip triggered a surge in implied volatility and put skew. Realised volatility drifted lower, dragging implied volatility lower and the volatility carry has flattened, indicating fair option pricing. Put skew has also moderated, trending toward neutrality.

Altcoins and Blockchain News

• Fiserv announced plans to collaborate with Circle and PayPal to launch the stablecoin FIUSD.
• Fannie Mae and Freddie Mac have been instructed to explore ways to incorporate cryptocurrencies into mortgage risk assessment assets.
• The Texas state government in the United States will allocate $10 million for purchasing Bitcoin.
• Shareholders of the Spanish coffee chain Vanadi Coffee approved a €1 billion Bitcoin investment plan on June 29, making it Spain's first publicly traded Bitcoin reserve company.
• BlackRock purchased $1.15 billion worth of Bitcoin last week, setting a new record high of $77.7 billion in Bitcoin holdings.
• South Korean payment giant Kakao Pay has officially initiated its business strategy for a Korean won stablecoin.
• Cryptocurrency exchange Bitvavo recently obtained the Markets in Crypto-Assets (MiCA) license issued by the Netherlands Authority for the Financial Markets (AFM), allowing it to conduct business in 30 countries within the European Economic Area.
• Report: In the first half of the year, 75 cryptocurrency theft cases resulted in over $2.1 billion being stolen, surpassing the first-half record set in 2022.
• Coinbase was selected for TIME magazine's list of the "Top 100 Most Influential Companies" for 2025.

Macro

The major benchmarks closed the week with solid gains: the DJIA added +3.8%, the S&P 500 +3.4%, and the Nasdaq +4.2%. The Chinese also closed higher for the week: the Shanghai Composite Index added +1.91%, the CSI 300 +1.95% and the Hang Seng index +3.2%.