Kategorie: Bitcoin News

• Bitcoin has experienced a significant drop in spot and futures volumes, which signals a potential summer lull.
• Low volatility and thinning liquidity could see a consolidation phase with a potential pullback to $100,000.
• A resurgence in trading volume could push BTC above $110k and its ATH.

Bitcoin (BTC) continues to hover near the psychological $110,000 level as well as its all-time high, but market analysts are pointing to a potential summer slowdown.

According to blockchain data provider Glassnode, trading volumes are experiencing a significant decline, raising questions about the cryptocurrency’s short-term trajectory.

With spot volume dropping to $5.02 billion and futures volume falling to $31.2 billion, both the lowest in over a year, the stage appears set for a period of reduced market activity.

BTC options markets suggest a slowdown

Glassnode’s recent market outlook highlights a trend in the Bitcoin options market where implied volatility across all expiries (ranging from one week to six months) is approaching all-time lows.

The analytics platform says the levels seen today are back to those seen in mid-2023.

Reduced volatility suggests that traders are anticipating less price movement in the near term, a common occurrence during the summer months when market participants often take holidays and trading activity wanes.

Notably, data shows a contrast between Bitcoin’s price, which has steadily climbed toward $110,000, and the diminishing spot and futures volumes.

The volumes appear to have peaked and point to a downturn, with the divergence indicating thinning liquidity.

$BTC options market is echoing the summer slowdown – implied volatility across all expiries (1W to 6M) is nearing all-time lows.
We’re now pricing some of the lowest vol levels since mid-2023, despite price hovering near ATHs. https://t.co/qBc0rpVCWm pic.twitter.com/3ANnNmyI9I

— glassnode (@glassnode) July 7, 2025

The options market’s low volatility pricing reflects a cautious outlook, potentially signaling a consolidation phase as the market digests recent gains.

Bitcoin price prediction

A lull is further contextualized by historical patterns, and traders could be looking for profits after significant rallies.

However, the low-volume environment also heightens the risk of sharp price swings, as even modest orders could trigger outsized reactions in a thinly traded market.

On the bullish side, Bitcoin’s ability to hold above key support levels and near $110k despite declining volumes suggests underlying strength.

Potentially, this strengthens long-term optimism amid institutional adoption, including likely moves by Elon Musk.

Notably, CoinShares has shared details showing digital asset investment products saw over $1 billion in inflows last week.

This marked the 12th consecutive week of inflows, with Bitcoin recording $790 million in inflows over the week.

Other assets such as Ethereum saw $226 million.

Amid this, analysts at CryptoQuant say the BTC bull run remains intact.

Bitcoin MVRV Bounces off 365-Day Average: Trend Still Alive?

“Historically, as long as MVRV stays above its SMA365, the uptrend tends to continue.

MVRV > SMA365 → Bull trend intact.” – By @burak_kesmeci pic.twitter.com/iwxEQ9t3OH

— CryptoQuant.com (@cryptoquant_com) July 7, 2025

However, the low implied volatility and reduced trading activity point to a consolidation range.

BTC could thus break to a new ATH above $112k or see a short-term pullback to support.

In this case, the psychological level of $100k will be key.

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Elon Musk, the founder of Tesla and SpaceX, has declared that his nascent political movement, the “America Party,” will embrace Bitcoin, stating that traditional fiat currency “is hopeless.”

This announcement, made on the social media platform X, comes amid a deepening public rift between Musk and President Donald Trump, primarily over the administration’s fiscal policies.

Musk’s plan to form the “America Party” appears to have been catalyzed by his strong opposition to President Trump’s massive tax and spending package, colloquially known as the “Big Beautiful Bill.”

Musk has harshly criticized the legislation as being fiscally irresponsible, at one point labeling it the “debt slavery bill.”

This disagreement has seemingly created an irreparable break between the two influential figures.

While the America Party has not yet been officially registered and lacks an official website, Musk has used his posts and retweets from supporters to outline its core ideology.

He envisions a party that champions a pro-tech, pro-free speech, and anti-regulation agenda, while adopting generally centrist policies on other issues.

Musk, a long-time supporter of cryptocurrencies whose companies SpaceX and Tesla both hold Bitcoin (BTC) in their corporate treasuries, sees the digital asset as a key part of this new political vision.

Musk has indicated on X that the party, once formally established, will not immediately field a Presidential candidate.

Instead, its initial focus will be on contesting House and Senate races, aiming to build a political foothold from the ground up.

President Trump, for his part, has not taken kindly to Musk’s political maneuvering.

In a Truth Social post on Sunday evening US time, Trump fired back, stating that Musk had gone “off the rails” and had become a “TRAIN WRECK.”

Crypto markets react to easing trade tensions

While this political drama unfolds, the broader cryptocurrency market experienced a lift on Sunday morning.

Major cryptocurrencies rose after US Treasury Secretary Scott Bessent hinted at the likelihood of upcoming trade deals being finalized before the crucial July 9 “Liberation Day” tariff deadline.

Bitcoin, the leading cryptocurrency by market value, gained over 1%, briefly surpassing the $109,000 mark.

Other major tokens also saw gains: payments-focused XRP and Solana’s SOL token both rose by over 2%, while the popular meme token Dogecoin (DOGE) climbed 3%, according to data from CoinDesk.

Ethereum’s Ether (ETH), the second-largest token, rose 1.5% to $2,550.

The tariff clock is ticking

In an interview with CNN, Treasury Secretary Bessent stated that the US is close to finalizing several trade deals ahead of the July 9 deadline.

This is the date when a temporary pause on higher tariffs, initially announced on April 2, is set to expire.

“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level. So I think we’re going to see a lot of deals very quickly,” Bessent said, according to Reuters.

He clarified that July 9 remains the firm deadline for negotiations; if deals are not reached, the higher tariffs announced in early April will take effect from August 1.

“We are saying this is when it’s happening. If you want to speed things up, have at it. If you want to go back to the old rate, that’s your choice,” Bessent told CNN, adding that some countries were “foot-dragging” on finalizing deals.

This coercive tactic of imposing tariffs to rebalance trade relations and reduce the US trade deficit has been a central pillar of President Donald Trump’s economic policy since he took office earlier this year.

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• Celsius claims Tether’s 2022 Bitcoin sale broke contract terms.
• Over 39,500 BTC were liquidated at $20,656 average price.
• Claims include breach of contract and fraudulent transfer.

Celsius Network’s efforts to hold Tether accountable for a $4 billion Bitcoin liquidation just cleared a major hurdle in US court.

A bankruptcy judge has now allowed Celsius to proceed with legal action against Tether, despite the stablecoin giant’s attempts to halt the case on jurisdictional grounds.

The lawsuit centres on claims that Tether prematurely and unfairly sold nearly 40,000 BTC during Celsius’s collapse in mid-2022, in breach of a contractual agreement and US bankruptcy laws.

The ruling could mark a turning point for how global crypto firms are treated in American courts, especially when assets are involved that were managed, sold, or transferred through US-linked systems.

While the court dismissed some peripheral allegations, it upheld key claims, including breach of contract and fraudulent transfer, allowing Celsius’s case to continue.

Celsius accuses Tether of early Bitcoin liquidation breach

The dispute dates back to June 2022, when Celsius was already reeling from the broader crypto market crash. Court filings reveal that Tether had lent money to Celsius and, in return, received collateral in Bitcoin.

Celsius now alleges that Tether liquidated 39,500 BTC at an average price of $20,656 without providing the contractually required 10-hour notice period.

The assets, according to Celsius, were liquidated during a time of extreme market volatility, and sold significantly below market value. Celsius claims the early sale resulted in a loss of over $4 billion based on current Bitcoin prices.

Moreover, the company alleges that Tether later transferred the liquidated BTC to Bitfinex, a platform operated by Tether’s sister company, raising concerns around related-party dealings and asset custody.

US court rejects Tether’s jurisdictional challenge

In its defence, Tether had argued that the case should be thrown out because it operates from the British Virgin Islands and Hong Kong. The company said US courts had no jurisdiction over its business.

However, the judge disagreed, pointing to the fact that Tether used US-based staff, bank accounts, and communication systems in its dealings with Celsius.

The court ruled that Tether’s actions were sufficiently “domestic” to fall under US legal scrutiny.

This decision now paves the way for Celsius to pursue several key legal charges including breach of contract, fraudulent transfer, and preferential treatment of certain creditors—allegations that strike at the core of how digital asset lenders and stablecoin issuers operate.

Broader implications for crypto lending and stablecoin governance

Legal experts say the outcome of this case could influence the regulatory treatment of stablecoin issuers, particularly in the US.

If Celsius is able to demonstrate that Tether mismanaged client assets or failed to honour notice periods during market stress, it may prompt calls for stricter oversight on asset liquidation procedures, especially for offshore firms operating through US financial infrastructure.

The case may also set a precedent for future cross-border lending disputes and clarify whether offshore crypto companies can be held accountable in US bankruptcy proceedings.

The outcome could therefore impact how other large digital asset firms manage collateral and liquidity risk during market downturns.

Tether grows market presence amid legal scrutiny

Despite the ongoing legal challenges, Tether has continued to expand its footprint in the crypto sector. The company recently acquired a majority stake in Twenty One Capital, a firm associated with Strike CEO Jack Mallers.

This move connects Tether to the third-largest corporate Bitcoin holder globally.

In another significant development, Tether transferred around 37,230 BTC—currently worth $3.9 billion—to addresses associated with its trading operations.

The company appears to be consolidating its Bitcoin reserves even as it navigates the legal fallout from the Celsius collapse.

Meanwhile, speculation continues over Tether’s valuation and a possible initial public offering.

However, CEO Paolo Ardoino has denied any plans for a public listing, stating that the firm is not preparing for an IPO despite rumoured valuations nearing $500 billion.

As the Celsius case moves into the next phase, attention will remain on how Tether responds to mounting legal pressure in one of the largest financial disputes in crypto history.

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Bitcoin (BTC) is trading steadily above the $105,500 mark as the Asian trading day gets underway on Wednesday.

This comes after a slight correction from the $107,000 level it held during US business hours.

Despite the significant geopolitical upheaval of the past few weeks, including a US strike on Iran that surprised both geopolitical experts and prediction market bettors, Bitcoin has once again demonstrated its resilience as a store of value.

CoinDesk market data shows that the asset class has remained remarkably stable over the last month, up a modest 1%.

A disciplined climb: HODLers stand firm

However, this return to a price point that is within striking distance of Bitcoin’s all-time high of nearly $111,000 (hit in May) feels different this time, according to market observers.

It’s characterized by a sense of discipline rather than the euphoria that often accompanies bull runs.

Unlike the breakout above $100,000 in December 2024, which triggered a significant wave of profit-taking, long-term investors now appear content to sit on their unrealized gains.

This observation is supported by analysis from Glassnode in their weekly note.

“HODLing appears to be the dominant market mechanic,” the Glassnode analysts wrote.

They pointed to a surge in the supply held by long-term holders, which has now reached 14.7 million BTC, coupled with historically low levels of realized profits.

This on-chain activity strongly indicates a limited desire to sell, even as Bitcoin trades just below its record highs.

Further reinforcing this narrative of restraint, metrics such as the adjusted Spent Output Profit Ratio (aSOPR) are hovering just above the breakeven point, according to Glassnode.

This suggests that the coins currently being spent are, for the most part, recent acquisitions involved in tactical trades rather than representing a broad distribution or sell-off by long-term holders.

Meanwhile, Glassnode data also shows that the “Liveliness” metric continues to decline, a clear sign that older, long-held coins remain dormant in their wallets.

The institutional undercurrent: steady demand meets rising leverage

This patience from seasoned investors is being met with persistent institutional demand.

In its daily markets update, trading firm QCP highlighted this trend, noting that market data indicates a substantial $2.2 billion in net inflows into spot Bitcoin ETFs just last week.

QCP described the overall tone of these flows as “constructive” and pointed out that dedicated crypto treasury companies such as Strategy and Metaplanet continue to accumulate Bitcoin.

These steady institutional inflows are quietly but fundamentally reshaping the market’s structure.

Bitcoin’s realized cap—a metric that measures the price at which coins last moved on-chain—has grown to an impressive $955 billion.

This growth is widely seen as a sign that real, committed capital, not just fleeting speculation, is flowing into the asset.

A fragile equilibrium: the standoff in the market

However, not everything is calm beneath the surface. QCP’s report also noted that leveraged long positions have been on the rise, with funding rates turning positive across major perpetual futures markets.

This indicates that short-term traders are increasingly using leverage to bet on further price increases.

Glassnode, in its analysis, warns that this situation may not be sustainable indefinitely. “The market may need to move higher, or lower, to unlock additional supply,” the firm wrote, suggesting that the current equilibrium between the unwavering conviction of long-term holders and the increasing leverage of short-term traders won’t hold forever.

Even major political news, such as the US Senate’s approval of the White House’s “Big Beautiful Bill,” has failed to produce a significant price reaction from Bitcoin.

This has led to a market that feels less like a stampeding bull run and more like a tense standoff. On one side are the long-term holders who are refusing to sell, and on the other are the short-term traders piling into leveraged positions.

This fragile equilibrium has market observers on the edge of their seats, wondering where the next major catalyst will come from and whether it will make Bitcoin’s next move an explosive one.

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• The average purchase price for the new acquisition was $106,801 per coin.
• The company has now spent approximately $42.4 billion on Bitcoin since it began accumulating the crypto.
• According to data from Bitcoin Treasuries, 134 public companies now hold bitcoin on their balance sheets.

Michael Saylor’s Strategy, the largest public holder of Bitcoin, added 4,980 BTC to its balance sheet last week, according to a US Securities and Exchange Commission filing on Monday.

The purchase, valued at $531.1 million, came as Bitcoin rallied from around $101,000 to above $108,000 during the final week of June, per CoinGecko data.

The average purchase price for the new acquisition was $106,801 per coin, bringing the firm’s total Bitcoin holdings to 597,325 BTC.

The company has now spent approximately $42.4 billion on Bitcoin since it began accumulating the cryptocurrency, with an average purchase price of $70,982 per BTC.

The Bitcoin ‘Strategy’

Strategy funded its latest purchase using proceeds from its active at-the-market (ATM) offerings.

Last week, the firm sold 1,354,500 shares of its Class A common stock (MSTR) for $519.5 million.

It also sold 276,071 shares of its Strike preferred stock (STRK) for $28.9 million and 284,225 shares of its Strife preferred stock (STRF) for $29.7 million.

Following the latest acquisition, Strategy’s year-to-date gain in Bitcoin now totals 85,871 BTC, compared with a full-year gain of 140,538 BTC in 2024.

That equates to a $9.5 billion BTC gain this year, according to the company’s internal figures.

The company also reported modest increases in its yield metrics.

Year-to-date Bitcoin yield rose by 0.5 percentage points to 19.7%, inching closer to Strategy’s goal of 25% yield by the end of 2025.

Quarter-to-date yield also edged up by 0.4 percentage points to 7.8%.

More BTC buys may be on the way for Strategy?

On Sunday, Strategy Executive Chairman Michael Saylor had again hinted at a potential upcoming bitcoin purchase, updating the company’s bitcoin portfolio tracker on Sunday with the remark, “In 21 years, you’ll wish you’d bought more.”

Strategy has acquired 4,980 BTC for ~$531.9 million at ~$106,801 per bitcoin and has achieved BTC Yield of 19.7% YTD 2025. As of 6/29/2025, we hodl 597,325 $BTC acquired for ~$42.40 billion at ~$70,982 per bitcoin. $MSTR $STRK $STRF $STRD https://t.co/xvWnSkfukS

— Michael Saylor (@saylor) June 30, 2025

The comment echoes his BTC Prague keynote, where he projected Bitcoin’s value could reach $21 million per coin within two decades.

Between June 16 and June 22, Strategy acquired an additional 245 BTC for approximately $26 million at an average price of $105,586 per bitcoin.

The company had slowed its purchasing pace in recent weeks as it shifted focus from its at-the-market (ATM) common stock program to issuing perpetual preferred shares to finance further acquisitions.

The latest purchase marks a return to using the MSTR ATM after more than a month.

According to data from Bitcoin Treasuries, 134 public companies now hold bitcoin on their balance sheets, continuing the trend initiated by Saylor and MicroStrategy.

Recent adopters include Tether-backed Twenty One, Nakamoto, Trump Media, and GameStop, alongside earlier entrants such as Semler Scientific and KULR Technology Group.

Japanese firm Metaplanet also announced on Monday that it had added 1,005 BTC to its reserves, raising its total holdings to 13,350 BTC—surpassing those of Galaxy Digital and CleanSpark.

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