Bitcoin’s $BTC Trajectory and Market Dynamics
Bitcoin (BTC) is currently trading around $104,691, experiencing a slight dip of 0.72% over the past 24 hours. Despite this, analysts from Bitfinex suggest that BTC could reach new all-time highs above $115,000 in early July, contingent on continued institutional investment and weaker-than-expected U.S. job data .
However, traders are closely monitoring the $105,000–$109,000 support range, with many maintaining a bearish outlook amid short-term uncertainty .
---
🏛️ Regulatory Developments and Institutional Moves
Circle's IPO Success: Stablecoin issuer Circle Internet Group Inc. raised $1.05 billion through its U.S. initial public offering, achieving a company valuation of approximately $8 billion. This move signifies growing investor interest in cryptocurrency-related firms transitioning into traditional finance markets .
Trump Media's Bitcoin $BTC
ETF Proposal: Trump Media & Technology Group has filed an application to launch the "Truth Social Bitcoin ETF" with the U.S. Securities and Exchange Commission. The proposed ETF aims to directly hold bitcoin and would be managed by Yorkville America Digital .
---
📉 Altcoin Movements and Market Sentiment
Altcoins like Dogecoin (DOGE) and Cardano (ADA) are leading a downward trend among major cryptocurrencies, with profit-taking and regulatory caution contributing to their decline .
Ripple released 1 billion XRP tokens from escrow for June 2025, valued at approximately $2.21 billion. This regular monthly release has raised questions about its potential impact on XRP's market price .
---
🌐 Broader Market Trends
The global cryptocurrency market capitalization has decreased by 3% to $3.41 trillion, with total trading volume at $89 billion, indicating a slight downturn in market activity .
Meanwhile, the cryptocurrency mining market is projected to reach $3.3 billion by 2030, despite rising crackdowns and mining bans in high-consumption jurisdictions, suggesting a realignment of mining operations globally .
---
---
