Hello, Asia. Here is what is news on the markets:
Welcome to the morning briefing in Asia, a daily summary of the best stories during the hours and an overview of market movements and analyzes. For a detailed overview of the American markets, see the Americas of the Coindesk Crypto Daybook.
Bitcoin (BTC) exchanged $ 119,430 in Asia early on Monday, up 1.24%, while the bullish momentum continued following a series of institutional milestones and a trade agreement between the United States and the European Union. The Coindesk 20 index (CD20) increased by 2.37% to 4,099.18, extending its recent recovery.
During the weekend, President Donald Trump and the president of the European Commission Ursula von der Leyen announced a trade agreement for the trial in Turnberry, Scotland, which establishes an American import rate of 15% on EU goods, avoiding the rate of 30% previously threatened. The agreement includes $ 600 billion in EU EU in the US energy and defense over the next three years and aims to reduce Europe’s dependence on Russian fuel. Steel and aluminum prices remain 50% for the moment.
At the same time, the market capitalization made of Bitcoin, a measure of the total value of the BTC based on the last time that each piece moved, crossed the threshold of $ 1 billion for the first time, according to Glassnode.
All this occurs while BTC continues to consolidate above $ 118,000 after reaching a record summit of $ 122,700 last week. The rally sparked a significant long -term holder, while drawing new buyers and fresh capital. The domination of the BTC, which measures the market share of Bitcoin compared to the total cryptography market, has dropped to 60.98%, suggesting a modest rotation in altcoins.
Friday, Galaxy Digital announced that he had executed a BTC transaction of $ 9 billion in the name of an investor of Satoshi-of the era, one of the biggest Bitcoin transfers in history. The sale involved 80,000 BTC and would have been part of a inheritance planning strategy.
The absence of price movement despite the size of the agreement probably testifies to the amount of illiquid BTC, thanks to long -term lots. A market on the verge of a supply of supply can take an additional $ 9 billion on sale.
Meanwhile, Polymarket bettors now give BTC a chance to reach $ 125,000 before the end of July, against 18% earlier in the week. The increased chances arise as traders weigh the impact of macro-vesters and the growing conviction on the chain.
Market movements
BTC: Bitcoin is negotiated over $ 119,000 while the United States and the European Union sign a trade agreement, while Coinglass data show that traders have plunged in short majority positions.
ETH: Ether is negotiated at $ 3,867.76, up 3%, in the midst of strong Onchain fundamentals: 28% of the ethm is marked out, exchange sales are at eight years and new buyers’ entries increase.
Gold: Gold is decreasing for a fourth consecutive day, merchant about $ 3,335 in early Asia despite a gain of 28% for the start of the year, because progress in US trade transactions – EU and American -China reduce the demand for packages before this week’s FOMC meeting.
Nikkei 225: The Asian-Pacific markets negotiated on Monday as investors were expecting details on US trade discussions.
Elsewhere in crypto
- Michael Saylor brings a silver style vehicle to support Bitcoin to Wall Street: Nydig (Coindesk)
- The Pharmaceutical Company will buy up to $ 700 million in BNB after Coin will reach a record level (decrypt)
- This false ATM Bitcoin scheme lost 4,000 hours of the crooks (Decrypt)
