5 hours ago
Good Morning, Asia. Here's what's making quality successful the markets:
Welcome to Asia Morning Briefing, a regular summary of apical stories during U.S. hours and an overview of marketplace moves and analysis. For a elaborate overview of U.S. markets, spot CoinDesk's Crypto Daybook Americas.
Fund manager Jeff Dyment of Saphira Group wants you to zoom retired and halt sweating the short-term charts.
His thesis: Data points that suggest organization bitcoin (BTC) buying is losing steam miss the bigger picture.
In a enactment shared with CoinDesk, Dyment argues that fears of fading organization request for bitcoin are overblown, rooted successful constrictive snapshots of the market.
Yes, ETF and firm purchases person cooled precocious – Michael Saylor's Strategy bought conscionable 16,000 BTC past month, down sharply from December’s 171,000 BTC haul. But this, Dyment insists, is not a motion of decline. It’s a earthy ebb successful what helium calls a “cyclical wave” of adoption.
“Institutional flows often travel successful waves alternatively than a dependable linear increase,” Dyment wrote. “Short-term request fluctuations successful the spot marketplace are insignificant ripples connected what is, successful fact, a rising tide of organization engagement.”
Dyment points to the summation of 51 caller corporate BTC treasuries successful the archetypal fractional of 2025 alone, adjacent to the full from 2018 to 2022 combined, and a 375% year-over-year summation successful firm BTC buying.
Public companies present clasp 848,902 BTC, oregon astir 4% of the full supply, with Q2 2025 unsocial seeing 131,000 BTC added to their equilibrium sheets.
He besides highlights the explosive maturation of Bitcoin ETFs arsenic further grounds of deepening organization participation. BlackRock’s IBIT fund, present the largest successful the world, holds 699,000 BTC, much than 3.3% of full supply, aft becoming the fastest-growing ETF successful history.
U.S. spot ETFs person collectively captured astir 1.25 cardinal BTC, oregon astir 6% of the full supply, successful conscionable 18 months since their launch, helium points retired successful the note.
Dyment's thesis is uncovering echoes successful the options market.
In QCP Capital's caller note, the Singapore-based money pointed to whales that are continuing to physique vulnerability to upside risk, snapping up September $130K BTC calls and holding $115K/$140K telephone spreads.
“Vols stay pinned adjacent humanities lows, but a decisive breach of the $110K absorption could spark a renewed volatility bid,” QCP wrote successful a Monday note.
So portion bears whitethorn constituent to stagnant spot flows and the astir bare mempool arsenic signs of fatigue, Dyment argues those are conscionable surface-level ripples.
Underneath, the tide is rising, and Wall Street, with its trillions upon trillions of regulated capital, is bare for crypto. It's conscionable not going to travel each astatine once.
BTQ Pushes Quantum-Safe Framework for Stablecoins
BTQ Technologies has introduced the Quantum Stablecoin Settlement Network (QSSN), a model designed to assistance banks, outgo firms, and integer plus platforms future-proof stablecoin issuance against threats from quantum computing.
In a press release, BTQ elaborate however the strategy could enactment quantum-secure versions of fashionable stablecoin models, including JPMorgan’s projected USD deposit token (JPMD), by upgrading privileged actions similar minting and burning with dual cryptographic signatures (ECDSA and Falcon-512), portion preserving compatibility with existing token standards, workflows, and wallets.
The motorboat comes arsenic the stablecoin marketplace surpasses $225 cardinal and lawmakers propulsion for regularisation with an oculus connected cybersecurity.
The GENIUS Act, presently advancing successful the U.S. Congress, would formalize national standards for fiat-backed stablecoins and promote quantum-safe architecture.
BTQ, which has worked with NIST for implicit a decade, aims to signifier those standards and presumption QSSN arsenic captious infrastructure.
Market Movements
BTC: Bitcoin fell 1.02% from July 6 astatine 22:00 to July 7 astatine 21:00, investigating cardinal enactment astatine $107,519.64 amid dense selling, earlier staging a V-shaped betterment disconnected $107,800 arsenic on-chain information showed beardown enactment clusters astatine $106,738 and $98,566 held by 1.68 cardinal addresses, according to CoinDesk Research's method investigation bot.
ETH: ETH roseate 1.67% amid volatile trading, swinging astir 3% betwixt $2,529 and $2,604 arsenic enactment astatine $2,530 held firm, organization inflows topped $1.1 billion, and above-average measurement marked some the surge and consequent sell-off.
Gold: Gold dipped connected a stronger dollar but rebounded connected tariff-driven safe-haven demand, with cardinal slope buying and de-dollarization fueling forecasts of a rally toward $4,000.
S&P 500: Stocks fell Monday arsenic Trump announced caller tariffs connected imports from 7 countries, sending the S&P 500 down 0.79% to 6,229.98.
Nikkei 225: Asia-Pacific markets mostly roseate contempt Trump announcing steep U.S. tariffs connected 14 trading partners, with Japan’s Nikkei 225 up 0.36% arsenic duties of up to 40% were outlined for countries including South Korea, Indonesia, and Thailand.
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