Good morning, Asia. This is what news is doing in the markets:
Welcome to Asia Morning Briefing, a daily summary of the main stories during the US hours and an overview of the movements and market analysis. To obtain a detailed description of the US markets, see Cryptokook from Coindesk America.
When Asia begins her negotiation day on Wednesday, Bitcoin
Continue exchanging the dominant headlines that move in the market.
The world’s largest digital asset is quoted above $ 108,900, according to Coendesk market data, and the Coindesk 20 index, a measure of the performance of the largest digital assets, is exceeding 3,100, 1.7%more.
At this time, which separates Bitcoin’s drift at $ 110K from a rally is the conviction of the market, the observers say.
In a recent report, Glassnode stressed that BTC volumes continue to remain below their usual statistical bands, ETF flows contract sharply from recent maximums and institutional investors seem to vacilate despite the unrealized profits shown in the ETF market value raised to the value made. (MVRV) proportions.
In an update of the market at the beginning of this week, Wintermute describes this cautious environment as a “bar market”, pointing out a division gap between the renewed enthusiasm in the high beta assets, such as Memecoins, and the stability of the established tokens of great capitalization established.
Last year’s dear narratives, especially AI and Depin Tokens, have lost the attention of investors, indicating that merchants are rotating Memecoins, many of the specialties such as Doge, Shib and Pepe are more than 8% in last week, or remain in BTC and ETH, which are considered proven in battle and safe.
With the global actions that are largely shrink from geopolitical uncertainties, BTC hesitation underlines persistent caution among merchants, which suggests that the market expects clearer signals before breaking decisively higher. Things are likely to agree until that changes.
News Summary: Fund builders of $ 100 million, not trainers, in Bitcoin
The VC firm only for Bitcoin Ego Death Capital has closed a second fund of $ 100 million aimed at supporting projects that treat Bitcoin as an infrastructure, not as a speculative trade, he said earlier.
The fund will be directed to the series Rounding between $ 3 million and $ 8 million for new companies that solve real world problems using the Bitcoin base layer or its scale solutions.
“We are investing in companies that treat Bitcoin not as a trade, but as an infrastructure, something especially to build, not bet,” said General Socia Lyn Alden. The existing ego portfolio includes Relai, an application of Autocustody and Roxom, an exchange of values built directly in Bitcoin Rails.
At a time when multiple VCs pursue performance in each new L2 and L3, the ego thesis is a commitment to simplicity and durability: the Bitcoin domain remains above 60%, and the fund aims to take advantage of its power of permanence. The message to the allocators: ignore the exaggeration, go back the lasting rails.
News Summary: The judge prohibits the sanctions of the sanctions in the tornado cash trial, limits the defense of freedom of expression
A federal judge ruled that the sanctions of the United States Government against Tornado’s cash, which were imposed in 2022 and then overturned, cannot be discussed in the next criminal trial of the Roman Storm developer, said previously.
Judge Katherine Polk Failla said that allowing the jury to listen to the now invalid sanctions would require “mental gymnastics” and the risk of confusing central legal problems in the trial. The sanctions were originally imposed by the Office of Foreign Treasury Assets Control of the United States. (OFAC) On the alleged use of the mixer by the Lázaro Group of North Korea, but they were attacked earlier this year in a separate case, Van Loon v. Treasure.
Storm faces multiple criminal positions related to his role in the construction of Cash Tornado, a privacy tool that allows users to obscure the origin of cryptographic transactions. Prosecutors claim that it benefited substantially from the project, citing evidence of token sales of multimillionaire token and real estate purchases.
Judge Failla also ruled that the evidence obtained from the Tornado cash developer telephone Alexey Pertsev can be admitted to the trial, despite the objections of the legal team of Storm, who argued that the material was selected by cherries and not independently verifiable.
Although Storm is free to talk about his belief in privacy and civil liberties, the judge said he will not be allowed to frame his actions as protected by the first amendment.
The court drew a distinction between personal beliefs and legal defenses. A final hearing prior to the trial is scheduled for Friday, with the trial scheduled to start on June 14 and is expected to last four weeks. It is likely that the result of the case will establish an important precedent on how US courts treat open source privacy tools developers.
Market movements:
BTC: Bitcoin maintained the institutional degree resilience during the negotiation cycle from July 7 to 8, maintaining above the key level of $ 108,000 while navigating a great resistance to $ 109,200 and finding strategic support about $ 107,470, pointing out the continuous confidence of corporate treasures despite the taking of profit of the late session, according to the market of the market ideas.
ETH: Ethereum increased 3% to $ 2,610 during the session from July 7 to 8, since institutional investors deployed $ 515 million in coordinated weekend purchases, which leads to volumes to almost triple the average and push the asset through key resistance levels
Gold: Gold fell 1.2% less than $ 3,300 on Tuesday, since optimism on delayed reciprocal rates and hopes for new commercial agreements weakened the demand for safe refuge, while markets waited for minutes of FOMC to obtain an additional rate orientation.
Nikkei 225: Asian markets were negotiated Wednesday Wednesday when Japan Nikkei 225 reduced 8.39 points (0.021%) After the president of the United States, Trump, ruled out delaying rates of August 1, imposed a 50% duty in copper imports and warned about possible pharmaceutical tariffs of 200% with a 18 -month grace period.
S&P 500: The S&P 500 closed almost unchanged on Tuesday after President Donald Trump confirmed that there would be no exemptions for the launch of the August 1 rate.
In another part of crypto
- Eigen Labs dismisses 25% of employees, focuses on eigencloud (BlockWorks)
- Sharplink Gaming jumps 26% as Ether Treasury Tops 200K ETH (Cindenesk)
- The increase in the 30 -year performance of Japan is an intermittent warning sign for risk assets: Macro Markets (Cindenesk)
