07/11 Morning Briefing
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[New York Coin Market/Opening] Bitcoin Breaks Record High, Market Uptrend Continues... Institutional Investment Also Bullish
2025-07-10T23:38:46.000Z
Bitcoin has reached a new all-time high, with its price climbing 1.4% to $116,873, amid a significant wave of institutional interest. The market has shown bullish tendencies, with total cryptocurrency market capitalization reaching $3.5 trillion. This surge is supported by substantial inflows into Bitcoin-centered ETFs, reflecting strong institutional demand. Ethereum also increased by 4.71% to $2779.91, emphasizing the robust interest in major cryptocurrencies. The collaboration of institutional participation and ETF inflows suggests a durable bullish trend, enhancing Bitcoin's standing as a recognized financial asset. This ascent underpins Bitcoin's evolution from a speculative vehicle to a potential hedge against inflation, competing with entrenched assets like gold.
Bitcoin reaching a new all-time high is a pivotal moment for the cryptocurrency market, reflecting robust investor confidence and heightened demand from institutional actors. The surge to $116,873, as reported, points to a broader trend of increasing acceptance and integration of Bitcoin into mainstream financial products like ETFs and mutual funds, providing more avenues for institutional participation. With Bitcoin and Ethereum leading this charge, the rising total market capitalization to $3.5 trillion underscores the bullish sentiment pervading the cryptocurrency markets. This bullish trend is fueled by institutional investors who see cryptocurrencies as vital parts of their diversified portfolios, driven by robust demand for assets that offer protection against inflation and potential appreciation. Bitcoin's rally, backed by strong ETF inflows, indicates a secure gateway for traditional investors, increasing liquidity and market stability while reducing perceived volatility. This escalating mainstream interest and acceptance might propel Bitcoin beyond speculative asset status to one considered a resilient competitor to traditional asset classes like gold. However, such phenomenal growth also raises questions about sustainability, regulatory scrutiny, and speculative bubbles, factors that need careful monitoring as the market evolves. This dynamic scenario opens multiple strategic investment opportunities as traders and analysts seek to capitalize on the current bullish trends while preparing for any potential market corrections or regulatory changes.
[Block Media Editor Jack Han] The Bitcoin (BTC) and digital asset (virtual asset) markets continued their bullish trend this week. As of 10 AM on the 10th (Eastern Time) on Binance, Bitcoin rose by 1.4% to $116,873, surpassing $110,000. Ethereum surged 4.71% to $2,779.91, marking the largest increase among major assets. Among altcoins, △SUI rose by 9.41%, trading at $3.2286, recording the highest growth rate. △Dogecoin (DOGE) increased by 3.83% to $0.1795, and △XRP rose by 2.48% to $2.4251. △Cardano (ADA) rose by 2.21%, and △Solana (SOL) by 2.04%. The market capitalization of digital assets exceeded $3.5 trillion (approximately 4,800 trillion won). This upward trend occurred as risk appetite intensified across the financial market. Investors seemed less concerned about trade-related risks. Reflecting this, the 'Fear and Greed Index' rose to an extreme greed level of 75. Meanwhile, NVIDIA's stock price, an important indicator of the correlation between tech stocks and digital assets, reached an all-time high. NVIDIA's market cap surpassed $4 trillion for the first time. Both tech stocks and digital assets are considered high-risk assets and tend to rise in tandem. Impact of increased demand from Wall Street investors The rise in Bitcoin and altcoins was also influenced by increased demand from Wall Street investors. For example, the spot Bitcoin ETF added $218 million (approximately 300 billion won) in a single day on Wednesday, with a total inflow of $50 billion. BlackRock's IBIT ETF currently holds over $77 billion (approximately 105 trillion won) in assets, narrowing the gap with the Gold ETF (GLD). The spot Ethereum (ETH) ETF also showed gradual capital inflows, with an additional $211 million (approximately 290 billion won) added on the 9th, surpassing a total inflow of $4.72 billion (approximately 6.5 trillion won) compared to the beginning of the year. In an interview with Bloomberg, an analyst stated, "The robust demand for ETFs and digital asset-related treasuries is providing sustained buying pressure for Bitcoin." The Federal Reserve's (Fed) latest meeting minutes also impacted the rise in digital asset prices. Some Fed officials did not expect the tariffs imposed during Trump's term to significantly affect inflation. As a result, many analysts expect the Fed to lower the benchmark interest rate by 0.25% at the next meeting. President Donald Trump advocates for a 3% rate cut. Bitcoin's technical analysis also contributed to the bullish trend Bitcoin's technical analysis further propelled the rise. On the daily chart, Bitcoin showed a cup and handle formation and a bullish flag pattern. This suggests the possibility of further increases, spreading a bullish outlook among investors. Based on an analysis of pattern size and depth, it's suggested that Bitcoin's price could exceed $140,000 within the coming months. This movement is also expected to positively impact major altcoins like Ethereum and Cardano.
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Korean media giant K-Wave Media raises $1 billion to secure Bitcoin.
2025-07-10T23:37:12.000Z
K-Wave Media, a major media firm listed on Nasdaq, has decided to raise $1 billion to invest in Bitcoin, marking a significant strategic pivot towards leveraging digital assets. The company aims to obtain at least 10,000 BTC, reflecting its intention to integrate cryptocurrency into its business model to enhance global fan engagement. This move signifies a broader acceptance of Bitcoin among large corporate entities, showing that cryptocurrencies are increasingly being seen as valuable strategic assets. By aiming to become a 'Korean Metaplanet,' K-Wave Media is setting a precedent for how media companies might use digital currencies to create more interactive and engaging platforms. This endeavor may encourage similar investments by other institutions, potentially increasing Bitcoin's utility and stability as both a financial and strategic asset. Nonetheless, success will largely depend on how the volatile cryptocurrency market develops and navigates regulatory landscapes.
The announcement by K-Wave Media to raise $1 billion for Bitcoin acquisition signals a strategic shift among traditional media companies acknowledging the potential and importance of cryptocurrency. This move reflects an understanding that Bitcoin could be leveraged to enhance corporate business models, providing not just a reserve asset but also a means to engage with a global audience in interactive and innovative ways. By acquiring a substantial amount of Bitcoin, K-Wave Media positions itself not just as a media giant but as a forward-thinking enterprise that bridges entertainment and digital asset economies. The initiative is a nod towards integrating cryptocurrency into mainstream operations, showcasing that Bitcoin is no longer the speculative asset it was once perceived to be but a tool for strategic corporate enhancement and transformation. This development can influence other similar companies, potentially setting a trend where media organizations might explore how cryptocurrencies could be utilized within their business frameworks. Such a trend could foster broader institutional adoption and improve Bitcoin's utility and acceptance as a mainstream financial asset. Moreover, as K-Wave Media pursues this Bitcoin integration to become a 'Korean Metaplanet,' we can anticipate more opportunities in blockchain space, especially within entertainment and media. Investors might see enhanced brand engagement and possibly new avenues for digital content monetization. However, this move depends heavily on market volatility and regulatory environments, especially given Bitcoin's past price fluctuations and the potential legal barriers in cryptocurrency regulation. Thus, while this decision is largely positive for the cryptocurrency market, companies venturing into similar strategies should tread carefully.
[Block Media Reporter Lee Eun-seo] Korean K-Wave Media, listed on the US Nasdaq, announced that it has secured a total of $1 billion (approximately 1.3749 trillion won) for its Bitcoin (BTC) strategy. Aiming to become "Korea's Metaplanet"… Fully launching BTC acquisition strategy According to Coingape on the 10th (local time), K-Wave Media recently signed a convertible bond agreement with Anson Fund, securing up to $500 million (approximately 687.4 billion won). At least 80% of these funds are to be used for purchasing Bitcoin. Previously, it had signed a Bitcoin Strategy Reserve and a SEPA (Standby Equity Purchase Agreement) worth $500 million. Combining these, they are positioned to secure a total of $1 billion in BTC. Through this strategy, K-Wave announced its goal of becoming "Korea's Metaplanet." Japan's Metaplanet recorded the highest stock price increase rate in the world in 2024 and continued to perform well into 2025. "The goal is to secure 10,000 BTC… Expanding global fan engagement" K-Wave Media CEO Kim Tae-jin stated, "The short-term goal is to expand holdings to 10,000 BTC," and added, "We will continue transparent communication with investors to achieve this." He also mentioned, "The existing K-Content business will benefit from the Bitcoin strategy," and "We will seek new ways for global fans to engage with, consume, and invest in our content." Currently, K-Wave Media has initially secured 88 BTC, and plans to aggressively increase its BTC holdings in the future. Meanwhile, the company's stock price has surged following the announcement of this strategy. According to TradingView, KWM stocks are trading at about $5, up more than 6% from the previous day, and have risen over 41% in the past month. ▶
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Ethereum futures trading volume surpasses Bitcoin.
2025-07-10T23:35:36.000Z
Recently, Ethereum's futures trading volume has surpassed that of Bitcoin, highlighting a possible shift in market focus and sentiment. Ethereum's recent price climb past $2800, nearing the $3000 resistance, demonstrates its growing appeal among traders and investors, fueled by factors like DeFi development and institutional accumulation. Surpassing Bitcoin in futures trading volume suggests an evolving landscape where Ethereum commands a more substantial influence over cryptocurrency market trends. This development emphasizes Ethereum's growing presence as both a technological and financial asset, potentially altering its role within investment portfolios and aligning more closely with Bitcoin regarding desirability among institutional investors. As Ethereum continues to innovate and gain market traction, its capacity to challenge Bitcoin's dominance becomes increasingly evident. This new dynamic offers strategic opportunities for investors looking to diversify their cryptocurrency holdings and capitalize on Ethereum's growing adoption and robust technological upgrades.
The article discussing Ethereum's futures trading volume surpassing Bitcoin's is a significant indicator of shifting market dynamics. Traditionally, Bitcoin has dominated both spot and futures markets due to its first-mover advantage and deep liquidity. However, Ethereum's latest performance suggests a growing interest among institutional investors and traders, possibly driven by Ethereum 2.0 upgrades, increasing DeFi applications, and trends like NFTs which have garnered substantial attention. This shift in focus from Bitcoin to Ethereum can lead to a more diversified crypto investments landscape. As Ethereum approaches key psychological price levels, like the $3000 resistance, breaking these levels could trigger further bullish sentiment, inflating prices and creating new trading patterns that could benefit traders who anticipate such moves. Additionally, as Ethereum continues to mature, its potential to dethrone Bitcoin as the leading digital asset in terms of use-case and growth trajectory becomes more apparent. This report also hints at Ethereum potentially establishing a more stable position as a financial asset beyond just its technological capabilities. Given the potential for a rally fueled by DeFi expansion and institutional accumulation, traders may find lucrative opportunities in Ethereum and related assets, benefitting from hedging strategies and market volatility. The volatility and competition with Bitcoin also suggest new layers of complexity for market analysts and investors trying to predict future trends.
[Block Media, reporter Lee Eun-seo] Interest in Ethereum (ETH) is increasing in the market. As of July 10, ETH futures trading volume surpassed Bitcoin (BTC), indicating a shift in trader sentiment. This rare occurrence suggests that Ethereum is moving beyond the perception of being an undervalued asset and entering a new phase. ETH futures trading volume surpasses BTC on a 24-hour basis According to CryptoPolitan on the 10th (local time), on-chain analysis company Glassnode reported that ETH futures trading volume reached $62.1 billion over 24 hours, surpassing BTC's $61.7 billion. Although BTC regained the lead later, this record is taken as a strong signal that market sentiment for ETH is rebounding. #Ethereum just flipped #Bitcoin in 24h futures volume: $62.1B vs $61.7B! That’s rare – and it signals a potential rotation in trader focus and positioning ahead of possible $ETH-specific catalysts. pic.twitter.com/34XlbZgimQ— glassnode (@glassnode) July 10, 2025 Spot trading volumes are also approximately $28 billion for ETH and $40 billion for BTC. Although Bitcoin still dominates the overall market, the open interest in ETH has nearly doubled from recent lows, indicating that traders are not stepping back from the market. ETH recovers to $2,800... Next target is breaking $3,000 ETH has recently recovered to the $2,800 level but has not overcome the strong resistance above $3,000. Although it has widened its gains against BTC to reach approximately 0.025 BTC per 1 ETH, it still remains down 29% since the beginning of the year. However, the growth of DeFi, increased stablecoin trading volume, and companies accumulating ETH are specialized factors that might act as bullish drivers for ETH. The market is also considering the possibility that ETH may again surpass BTC in the short term or rise to the $3,000-$4,000 range. In the recent derivatives market, focused on long positions, many positions formed around the $2,600 level, and some liquidation led to price corrections. During one day, $157.9 million was liquidated in short positions alone, and afterward, traders appeared to attack with long positions. Whales and institutions also re-accumulating ETH... A sign of sentiment reversal ETH had been under downward pressure due to whale selling and Grayscale holdings releasing, but the situation is now reversing. Major institutional investors, including Grayscale, are re-accumulating ETH, and the number of whale wallets holding more than 10,000 ETH has increased. These mega whale wallets currently hold over 41 million ETH. About 30% of the total ETH supply is currently staked in the Ethereum 2.0 Beacon Chain. As ETH is starting to be adopted as a corporate financial strategy asset, it is following a path similar to BTC. There is also an analysis that the expectation for Ethereum's rebound could lead to a new rally in the altcoin market in the second half of 2025. Contrary to past concerns about it being a "useless chain," ETH remains a core part of the DeFi ecosystem. As meme coins and game tokens, which were popular in the 2021 bull market, are now declining, ETH is gaining attention again through its practical use cases.
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Christopher Waller, a member of the U.S. Federal Reserve Board, raises the possibility of a Fed rate cut in July.
2025-07-10T23:33:41.000Z
Federal Reserve Board member Christopher Waller has raised the possibility of an interest rate cut in July, a move that could have significant implications for the cryptocurrency market. Citing restrictive current monetary policies, Waller indicated that lower rates might be necessary to support economic expansion. Such a rate cut is poised to enhance liquidity, making riskier assets, including cryptocurrencies, more attractive as investors seek higher yields. This development aligns with broader market trends where cryptocurrencies are increasingly seen as viable alternatives for investment amidst traditional market uncertainties. The discussion also includes contrasting views, with market skepticism about the Fed's potential action reflective of inherent political and economic tensions. While reduced interest rates could invigorate cryptocurrency demand, fostering further bullishness, investors must heed potential volatility and market reactions that accompany such fiscal shifts.
The possibility of the Federal Reserve Board considering an interest rate cut, as discussed by Christopher Waller, could have profound impacts on financial markets, including the cryptocurrency space. Typically, lower interest rates reduce the attractiveness of fixed-income investments, potentially driving investors towards higher-yielding assets such as stocks and cryptocurrencies. If the Federal Reserve opts for a rate cut, it's anticipated to inject additional liquidity into markets, potentially uplifting asset prices, including cryptocurrencies like Bitcoin. The burgeoning confidence in digital assets, fueled by macroeconomic trends like interest rate adjustments and inflation fears, paints cryptocurrencies as viable alternatives for value storage and growth amidst traditional market instability. Historically, low-interest environments have catalyzed bullish runs in riskier asset classes, and cryptocurrencies could benefit from similar dynamics. Waller’s mention of monetary policy being overly restrictive presents an opportunity for digital assets to further cement their role in diversified portfolios as a hedge against economic uncertainty. However, the coupling of monetary policy adjustments and speculative assets requires astute market surveillance due to potential volatility. Thus, while potential rate cuts could buoy cryptocurrency markets by stimulating demand, investors should be cautious of resulting market reactions and the broader economic instability these fiscal maneuvers may incite. Ultimately, this scenario underscores the delicate interplay between regulatory decisions and emerging alternative assets in shaping future investment landscapes.
[BlockMedia Lee Jeong-hwa reporter] Christopher Waller, a member of the Federal Reserve Board, reiterated the possibility of a rate cut in July, CoinGape reported on the 11th. This statement comes as market traders are betting on the possibility of a rate cut not occurring. Waller stated at a Dallas Federal Reserve Bank event that the Fed's monetary policy is excessively tight and indicated that a rate cut could be considered this month. He pointed out that the current policy rate still restricts economic expansion. These comments were made immediately after the release of the June Federal Open Market Committee (FOMC) minutes. According to the minutes, there was concern that the Trump administration's tariff policy could increase inflationary pressures, but Waller emphasized the need to conduct a rate cut while ignoring the price impact from tariffs. Additionally, President Donald Trump is strongly pressing the Fed for a rapid rate cut of 300 basis points (3%). He has repeatedly urged a rate cut, stating that the Fed should reflect the market's strength. With Bitcoin and the stock market hitting all-time highs recently, Trump highlighted the soundness of the U.S. economy. However, there is skepticism about the possibility of a rate cut in July, as market data predicts a 95% chance that the Fed will maintain the current rate. CME FedWatch also revealed that market participants expect the Fed to keep rates unchanged in July. The recently announced June U.S. employment figures also support the Fed's cautious approach. According to the employment data, the U.S. labor market remains stable, and there is no compelling reason to rush a rate cut. Waller has previously argued for the need for a rate cut, and his recent comments demonstrate a policy disagreement with Fed Chair Powell. Meanwhile, although Waller is mentioned as a candidate for the next Fed chair, the market considers the actual possibility of replacement to be low. ▶
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Final Viewpoint
The recent analyses suggest a highly bullish outlook for the Bitcoin and broader cryptocurrency markets, influenced by a confluence of economic, institutional, and technological factors. A key driver is the potential for the Federal Reserve to cut interest rates, potentially stimulating liquidity and making cryptocurrencies more attractive as alternative investments. Institutional interest remains high, evidenced by substantial inflows into Bitcoin-focused ETFs and major companies like K-Wave Media making significant Bitcoin investments. Additionally, Ethereum is gaining prominence with its futures trading volume surpassing Bitcoin's, indicating a shift in market focus towards diverse cryptocurrency investments. Over the past week, Bitcoin has risen progressively, with a marked surge, further driven by institutional interest and ETF inflows, achieving a new all-time high of $116,873. The last 24 hours saw Bitcoin rally towards similar heights, with increased trading volumes reinforcing the bullish trend. Given these factors, we can expect Bitcoin's price to remain buoyant in the short-term, potentially pushing towards new all-time highs. However, sustained growth will depend on broader economic policies, regulatory clarity, and the resilience of investor sentiment to any speculative or volatile market reactions. Ethereum’s growing role also suggests that it may continue to rise, possibly challenging Bitcoin’s dominance in the future. Investors should remain vigilant to changing market conditions and potential macroeconomic impacts that could affect cryptocurrency pricing.
Viewpoint