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.
While Asia is starting a new week of negotiation, Bitcoin
Changing hands at $ 109,000, up 0.8% in the last week or 4.5% in the last month according to Coindesk market data.
In a large -scale BTC time continues to purchases Michael Saylor’s strategy (MSTR),, BTC Stock Exchange Fund Supported (ETF) entrancesAnd more companies adopting a BTC cash strategy, you have to ask yourself why the Bitcoin price has not exceeded the heights of all time.
A new cryptobrant report states it: all this institutional action does not compensate for a general drop in punctual demand for the BTC.
“The annual growth of Bitcoin demand shows a similar image: purchases ETF and MSTR are part of the Bitcoin demand, the overall contraction of demand is more than offset by these purchases, and the acceleration of the overall growth of demand is what motivates the rallies of prices,” wrote cryptocurrency in a recent report.
Cryptotic underlines that during the last 30 days, there has been a contraction in the BTC demand up to -895k.
To worsen things compared to December, purchases ETF and MSTR slow down. During the last month of the year, the ETFs bought 86,000 BTC and MSTR 171,000, while in the last month, these figures are considerably decreasing. The ETFs only bought 40K BTC while MSTR bought 16k.
The BTC is stuck in a consolidation phase and the request is not there to fuel an escape, writes Cryptochant.
An additional data point for proof of the request for slowing down is the almost empty mempool of BTC, which demonstrates the little retail request for the market.
The question is that, if institutional purchases continue to slow down, what resistance will it make the price of the BTC?
Anthony Scaramucci of Skybridge Capital is by saying that the treasure treasure of the BTC – a reliable source of Bitcoin request – will fade.
“Right now, we have this idea of the replicative cash company,” said Scaramucci during an interview with Bloomberg last week. “So you know, it will fade.”
“The case of Saylor is different because it has some different products now,” continued Scaramucci during the interview. “I am not negative on the others, because I am too optimistic about Bitcoin, but I would simply say that as investor, you must examine the underlying costs associated with each of these cash companies.”
Meanwhile, Standard Chartered remains a BTC bull, the bank retains its price target of $ 200,000 for the world’s largest digital active.
Market movements:
- BTC: Bitcoin consolidated above $ 108,500 over the weekend, then went from $ 108,327 to $ 108,620 in the last hour, with $ 108,200 to $ 108,300 now supporting the upward trend.
- ETH: Ethereum rallied from $ 2,520.45 to $ 2,558.63 on July 6, the negotiation volume transforming at 2,72,352 ETH, finding support for $ 2,510 in the midst of global economic tensions, while $ 1.1 billion in June ETF ETF and and a potential for the accumulation of banish whales recorded for resistance almost $ 2,600.
- Gold: Gold jumped from 1.91% to $ 3,336.61 last week, driven by a weakened dollar, 91.5% ratings of a drop in the federal reserve rate in September, imminent tariff threats and an increase of 73% of gold imports in China in China
- Nikkei 225: The Japanese reference Nikkei 225 slipped 0.26% after the White House continued with its mixed messages on prices.
Elsewhere in crypto:
- The American recession on the polymarket increase to 22% while the trade tensions are fresh (Coindesk)
- Ethereum feeds the future of Wall Street. The crypto scene in Cannes shows how it happened (CNBC)
- Sweden orders the police to increase the convulsions of criminal cryptography (Decrypt)
