Market Update : 6th July 2025
$BTC is currently holding steady around $108,000, recovering from recent dips below $100,000 .It is facing resistance around $110,000 . Break out above this could push it towards $125,000 or even more.
$ETH also consolidate around $2,520 after retreat from the $2,640 zone earlier in the week. It is within a symmetrical pattern, with key support near $2,480 and resistance at $2,560 . The US Ethereum spot ETF recently saw a substantial net inflow of $219.1 million. There are signs suggesting a bullish breakout.
The global Crypto market capitalization is around $3.3 trillion, and trading volumes have been increased, suggesting active market participation.
Key Developments and Interesting Trends
💸 US "Crypto Week" in #Congress : The US House of Representatives is dedicating a week starting from July 14th as "Crypto Week" to consider several landmark pieces of legislation aimed at defining and regulating digital assets. These will include the CLARITY ACT, the Anti-CBDC Surveillance State Act, and Senate's GENUIS Act. They will improve a lot of regulations in US, and help make the US a leader in the crypto space.
💸 UK Pension fund consultancy advised investing 3% of assets in Bitcoin, predicting a potential 60% return within a year.
💸 Aptos $APT CEO, Avery Ching, has joined the CFTC's Digital Asset Markets Subcommittee. This is a significant move as it brings technologists into a key regulatory body.
💸 African Nations are also actively instituting rules to regulate the crypto industry, with major international players looking to expand across the region.
💸 Continued Institutional Demand and whale accumulation are supporting Bitcoin's price. BTC price is still relatively reasonable to accumulate.
💸 $TON (The Open Network) is offering a 10-year UAE Golden Visa for a $100,000 staked Toncoin, a significantly lower cost than the usual entry, making it an interesting incentive for holders.
Buzzwords: Regulation, Institution, Whale
CMC Altcoin Season Index : 27
Fear and Greed Index : 50 👍
