Good morning, Asia. This is what makes news in the market:
Welcome to Asian morning briefings, daily summary of top stories throughout the US time, and an overview of market movements and analysis. For a detailed overview of the US market, see Coindesk's Crypto Daybook Americas.
As East Asia opens its business day, Bitcoin will fall by 1.8%, trading above $117,800 as traders make profit after BTC pushes multiple all-time highs.
While some market participants believe that Rally is just beginning, there is a demand for BTC to demand 160K, 200K, and even HIT, OKX's chief commercial officer Lennex Lai warns that risk is building as fast as market enthusiasm.
“We see an increase in aggressive long positions across the platform, and funding rates are increasing the headlines for “Crypto Week,” Lai told Coindesk in an interview on Telegram. “At these levels, risks can be built quickly. Escalating trade tensions with the EU, Mexico and other trading partners can cause sharp revisions. Another risk is that happiness drives decisions.”
LAI points to the slate of upcoming macro announcements, including UK CPI releases, US core PPIs, retail sales and consumer sentiment.
These concerns reflect the findings of K33 Research's H1 2025 market report, highlighting that similar risks and volatility were induced earlier this year.
According to K33, geopolitical turmoil and trade policy uncertainty have already driven significant market fluctuations, including a 30% revision to $75,000 at the beginning of the year.
“Bitcoin struggled during this relaxation period, but by outperforming stocks in the aftermath of release date, it provided relative strength and subtle hints for stocks,” the report said.
Furthermore, K33 highlights historically low funding rates during price rises, showing cautious sentiment among experienced traders who are cautious about a sudden market reversal.
“The annual funding rate was an average of 4.51% over the six months, the lowest average six-month funding rate since December 31, 2022,” the report states.
“In moments like these, smart traders are focusing on strategies around sentiment, using discipline to manage risk,” Lai continued. “The excitement at the top is authentic, but those who carefully manage their entry, exit and fundraising exposure are perfect for what comes next.”
After all, he concluded that “strong momentum doesn't mean that the market is invincible.”
Maple Finance is Crypto's largest on-chain asset manager
Maple Finance is currently the largest on-chain asset manager overtaking BlackRock's tokenized money market fund Buidl, according to data from the Dune Analytics dashboard, which tracks real-time Defi asset flows. Maple's total assets are being managed this week due to a surge in new deposits exceeding $100 million (aum) It has overturned Buidl's $2.3 billion to $2.9 billion.
Buidl withdraws capital with ultra-conservative exposures equivalent to short-term US finance and cash equivalents, while Maple appeals to more risk-resistant institutions by providing yields through unrated loans to reviewed trading companies and encrypted borrowers. This model relies on delegated credit underwriting rather than blanket overload calculations, but now it appears to be scaled faster.
Milestones suggest a growing desire for defi credit products that bear the yield amid continuing macro uncertainty. It also shows a rare example of decentralized credit protocols surpassing major Tradfi incumbents like BlackRock on-chain, at least by RAW AUM.
As big technology doubles its infrastructure, AI tokens gather
According to Coingecko, the AI-focused Crypto token jumped 5% overnight, pushing the sector's market capitalization to $29.6 billion. The move came amid a surge in AI and data infrastructure announcements from the AI-tech giants, sparking new investors' enthusiasm in both the stock and token markets.
Google said Tuesday it would invest $25 billion in data centers and AI infrastructure across America's largest PJM electric grid, while also agreeing to buy 3,000 megawatts of hydroelectric power through a $3 billion deal with Brookfield. Meanwhile, Meta is planning to “thousands of billions” in building AI data centers. Prometheus In Ohio.
The announcement was timingd around a Trump-led summit at Carnegie Mellon University, bringing AI, energy and data infrastructure pledges to over $90 billion. For now, at least, AI's bullish tone from both the government and industry appears to be spilling into the token market.
Market movements:
BTC: According to technical analysis data from Coindesk's research, Bitcoin dropped by 1.69% at $117,810.33, replacing breakout attempts with massive support, reduced integration and thinning market fatigue and forecasts ahead of the next Macro Catalyst.
ETH: Ethereum surged 2.6% in a volatile 24-hour session at $3,066.57, rebounding from a low of $2,933.50 in an institutional flow, recording record piles, with strong volumes driving breakouts past $3,075, showing new ferocious momentum.
gold: Even as the New London Bullion Market Association, gold fell 0.56% to $3,331.55 (LBMA) Polls have been more bullish on an upgraded 2025 forecast of $3,324.40 driven by geopolitical tensions, weakness in the dollar and fiscal concerns, and analysts say they are more bullish on whether prices will rise to $4,000 or fade at the end of the year.
Nikkei 225: The Asia-Pacific market is set to open a mixing after President Trump announces a reserve trade deal with Indonesia.
S&P 500: The S&P 500 fell 0.4% after touching on intraday records, despite bank revenues and profits from NVIDIA-led technology, as Treasury yields and June inflation rate of 2.7% raised concerns over tariff-driven price pressures.
Other locations in the code:
- A legitimate privacy tool or dirty money “coin laundry”? Lawyers discuss the role of tornado cash on the first day of the Rome storm trial (Coindesk)
- Can a genius act save a bank from stablecoins? (Blockworks)
- “Existential Threat”: Bitcoin Proposal Freeze Satoshi's Quantum Disturbance Coin (Decoding)
