Crypto Market

BTC and ETH Market Insight

With tariff tensions easing, the DXY is declining while yields and gold surge, as gold maintains its role as a preferred risk-off asset. Although a weak dollar typically supports a Bitcoin bull market, this time the decline is driven by recession risks, complicating the situation and potentially limiting the negative correlation between the dollar and Bitcoin in the short term. Bitcoin spot ETFs experienced a net outflow of $1.0271 million on Friday, marking the seventh consecutive day of outflows. Over the past week, ETH Mainnet, Base, and Sonic led in net inflows, while Berachain experienced the highest net outflows.

Options Market

The 90-day pause on tariff offered by Trump temporarily soothed the market anxiety. The market finished this volatile week with some bounce from the dip. The realised volatility continued to rise during the week whereas the implied volatility started to cool off. On the equity side, VIX also fell from the high of 54%. Call selling stayed active with less Put skew shifted lower for both BTC and ETH but ETH’s skew remained relatively high. ETHBTC continued its downward trend - trading around 0.0187 as of this writing.

Altcoins and Blockchain News

• Binance explores business deals with the Trump family's cryptocurrency company and seeks regulatory relaxation in the U.S. 

   

• The USD1 stablecoin launched by Trump's cryptocurrency project WLFI has exceeded a transaction volume of $44.91 million.

   

• Grayscale and Osprey have ended a two-year marketing dispute over a Bitcoin ETF and reached a settlement.

   

• The UK’s first school to accept Bitcoin for tuition fees, Lomond School, will begin implementation in the fall of 2025.

   

• Morpho responds: The update has been rolled back, and user funds remain secure..

   

• The SEC and Ripple have reached a settlement agreement, with both parties jointly requesting to suspend appeals.

   

• Binance Launchpool listed WalletConnect (WCT).

   

• Blockchain startup Wunder.Social has completed a $50 million funding round, led by Rollman Management

Macro

The major benchmarks surged after the Trump administration announced a 90-day pause on the previous tariffs policies for most of the countries: the DJIA added 5.0%, the S&P 500 +5.7%, and the Nasdaq +7.3%. The Chinese administration responded to Trump’s tariffs with 125% reciprocal tariffs on U.S. goods. The Shanghai Composite Index lost 3.11%, the CSI 300 -2.87% and the Hang Seng index -8.42%.