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The ‘MicroStrategy’ of Ethereum has emerged, with Fundstrat’s Tom Lee and Joe Lubin making moves to advance their respective ETH treasuries. Tom Lee has emerged as the Chairman of BitMine, which will hold ETH, while Lubin is already the Chairman of SharpLink Gaming. Lee and Lubin Raise $675 Million for Ethereum Treasury Strategy Tom Lee and Joe Lubin have already advanced their plans to create the ‘MicroStrategy’ of Ethereum. On Tom Lee’s end, BitMine announced a $250 million private placement to raise capital for its Ethereum strategy. The Bitcoin mining company stated that the net proceeds of the offering will be used to acquire ETH, which will become the firm’s primary reserve asset. BitMine plans to close this private placement on or about July 3, as it aims to become one of the largest publicly traded ETH holders with Tom Lee as the Chairman of the Board. On the other hand, SharpLink Gaming, with Joe Lubin’s help, is already the largest publicly traded Ethereum holder. The company earlier launched its Ethereum treasury with a $425 million ETH purchase. SharpLink Gaming recently announced that it has increased its total ETH holdings to 198,167 ($475 million), further establishing its position as the ‘MicroStrategy’ of Ethereum. Between June 23 and 30, it acquired 9,468 ETH for $22.8 million at an average price of $2,411 per ETH. During that same period, SharpLink Gaming also raised an additional $24.4 million through its At-The-Market (ATM) facility, selling $2.5 million shares. The company revealed that most of the proceeds will go toward further Ethereum acquisitions. As of June 30th, 100% of its ETH is staked, and the firm has earned 222 ETH in rewards since it began an ETH treasury company. Plans To Mirror Saylor’s Strategy In an X post, crypto commentator Eric Conner commented on how Ethereum is getting its own MicroStrategy era thanks to Lee and Lubin’s experiments. He highlighted BitMine’s proposed KPI of ‘ETH per share,’ which mirrors Saylor’s playbook, except that ETH earns yield in this instance through staking. Conner further remarked that BitMine’s mining DNA lets it spin up validators and tap DeFi rails, turning a once-capital-intensive operation into a cash-flow engine secured by Ethereum. On the other hand, he noted that Joe Lubin and SharpLink Gaming’s move is bigger. SharpLink is already staking its ETH holdings and plans to explore other DeFi strategies. With this move, the crypto commentator declared that ETH becomes the reserve while yielding bankroll growth. Lubin also recently raised the possibility of adding leverage to SharpLink Gaming’s Ethereum strategy, which will mirror Saylor’s strategy. He stated that they may do convertible equity and issue bonds at low rates, without putting the strategy at risk. At the time of writing, the Ethereum price is trading at around $2,444, down in the last 24 hours, according to data from CoinMarketCap.

Highland Copper Company (TSXV: HI) says it has received local backing in Michigan for securing a state grant of $50 million to fund the construction of its Copperwood project, located in the Western Upper Peninsula. In a press release Wednesday, the Canadian copper developer said the community of Wakefield Township, where the Copperwood project resides, has taken “the proactive step” of directly requesting a $50 million grant from the Michigan legislature. The company is currently awaiting final approval from the state’s Senate Appropriations Committee with respect to a $50 million grant offered by the Michigan Economic Development Corporation in January 2024. Wakefield Township’s request, Highland Copper says, helps to create “a separate path for the potential approval of the regional infrastructure funding” — increasing its chances of securing the $50 million infrastructure funding. Copperwood project Copperwood is a wholly owned greenfield project located 22.5 km north of Wakefield, Michigan, and one of two assets held by Highland Copper in the state. The company envisions Copperwood as a low capital intensity project that can reach commercial production quickly, and has so far obtained all permits required to begin construction. Site preparations began as early as 2023. According to a feasibility study completed the same year, Copperwood is expected to produce 64.6 million lb. of copper and 106,966 oz. of silver annually over a projected 11.7-year mine life. Its after-tax net present value is estimated at $168 million, with an internal rate of return of 17.6%. Initial capital expenditures are set at $391 million. The underground operation will use a room-and-pillar mining method with an estimated average processing rate of 6,800 tonnes per day. Facilities on site will include grinding, flotation, concentrate thickening, concentrate filtration, storage, and loadout. This year, the company completed resourcing all engineering workstreams for the Copperwood project, and expects to complete the engineering design criteria by the third quarter. For the project’s construction, Highland Copper has been focused on mitigation activities required under its wetlands and streams permit, including the successful planting of nearly 20,000 trees in the newly constructed areas. The mitigation program represents the final site activities required before a construction decision, the company said. Barry O’Shea, CEO of Highland Copper, commented: “Highland is focused on key work programs that should enable a construction decision for Copperwood in 2026. This includes early site work to prepare for construction, progress on detailed engineering and metallurgical optimization, and continued advancement on state and federal funding opportunities.”

Writing some hours after the New York open, U.S. equities are mixed in performance today. The Dow Jones is currently trading -0.02% lower for the day, at around ~$44,557 The S&P 500 is currently trading 0.22% higher for the day, at around ~$6,220 The Nasdaq-100 is currency trading 0.54% higher for the day, at around ~$22,635 close Dow Jones Industrial Average (US30USD), OANDA, TradingView, 02/07/2025 Dow Jones Industrial Average (US30USD), OANDA, TradingView, 02/07/2025 Rallying over 6% in the last eight days alone, the daily RSI rates the Dow Jones as ‘overbought’ for the first time since October 2024 If bulls are able to stage another leg higher, expect resistance at previous highs of ~$45,060, then ~$45,506 Support can be found at $43,785, then $43,411 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

BHP (ASX, LSE: BHP) announced Wednesday it has signed contracts with COSCO Shipping Group for the charter of two ammonia dual-fuelled bulk carriers for transporting iron ore from Western Australia to Northeast Asia. The new vessels to be built under this arrangement will be two of only a handful of vessels in the world capable of using ammonia as a marine fuel, the Australian miner said. According to COSCO, ammonia is one of the most promising marine fuels with zero-carbon potential. Its ammonia-powered Newcastlemax vessels will stand at the forefront of technological and environmental advancement for the broader dry bulk sector. The charter contracts for the two vessels are expected to run for five years, with first delivery anticipated from 2028. BHP estimates that the vessels could greenhouse gas (GHG) emissions by at least 50% and up to 95% on a per voyage basis compared to a conventionally fuelled voyage, and it expects them to contribute towards a reduction in the GHG emissions intensity of the company’s chartered shipping. This announcement represents an important step toward lowering GHG emissions in the iron ore seaborne market and moving the maritime sector towards a decarbonized future, BHP stated, adding that it should also strengthen the demand for lower or low to zero GHG emissions marine fuels. These contracts will also contribute to BHP’s commitment as part of the First Movers Coalition, that by 2030, 10% of the group’s total products shipped to its customers using the company’s time charter vessels be shipped using zero GHG emissions fuels. Longstanding relationship BHP said it selected the Chinese state-owned COSCO following a rigorous expression of interest process, which evaluated safety, technical and commercial considerations. The two companies have a longstanding relationship and will work closely together alongside key regulatory bodies to ensure the vessels are delivered and operated safely. Meanwhile, BHP continues to work with the maritime industry to develop an ammonia bunkering plan – the process of fuelling ships with ammonia – for the two vessels when they are delivered from 2028. Sourcing lower and low to zero GHG emissions ammonia is subject to an ongoing tender process. “This is an exciting moment for BHP, COSCO Shipping and the maritime sector,” Emma Roberts, BHP’s vice-president of maritime and supply chain excellence, stated in a press release. “Together we are contributing to the industry’s ambition towards abatement of maritime greenhouse gas emissions through these first-generation ammonia dual-fuelled vessels.” “The contracts we are signing today—for two 210K DWT ammonia dual-fuel bulk carriers—are part of more than just a project to enable alternative marine fuels,” COSCO Shipping vice president Ji Lin said. “It also reflects the real progress being made to the Australia–China Green Shipping Corridor.” “Looking ahead, COSCO Shipping will continue to work closely with BHP to help accelerate the transition to net-zero shipping, scale up innovation, and help shape a more sustainable and resilient global supply chain,” Lin added.

Dogecoin is revisiting a technical juncture it has not seen since the months preceding its 2020–21 parabolic rally, according to a comparative chart published by the pseudonymous analyst Kaleo to his 705,000 followers on X. In the annotated TradingView graphic, weekly candles for DOGE-USD trace two multi-year falling wedge structures—one stretching from the January 2018 high to early 2021, and an almost mirror-image pattern extending from the May 2021 peak until today. History Repeating For Dogecoin? The first wedge resolved in late 2020 with a decisive breakout above a descending trend-line that had capped every rally for more than thirty-six months. Kaleo marks that moment with a yellow label reading “We are here” at roughly $0.003, immediately before the price detonated to the cycle top near $0.75 in May 2021. The current structure shows the same downward-sloping resistance—now anchored by successive lower highs from $0.16 in late 2022 to $0.11 in late 2023—finally giving way. Since the, DOGE has recorded higher highs in April at $0.22 and in December 2024 at $0.48. Friday’s close printed at $0.1604, still below the psychological $0.20 threshold but fractionally above the dotted secondary resistance that has defined the wedge’s upper boundary since mid-2022. Kaleo’s overlay projects the 2020 breakout trajectory forward in time, mapping a near-vertical thrust from the present $0.16 area to roughly $0.55, a brief consolidation, and a continuation leg that tops close to $3.50. While this upper target hasn’t ever been printed in DOGE’s history, the analyst’s replica path underscores how little overhead structure exists once price escapes the wedge. A key role in the chart are playing the two vertical dashed lines labeled “BTC Halving”: 12 May 2020 and 21 April 2024. In Kaleo’s read, Dogecoin’s macro reversals are synchronized with Bitcoin’s quadrennial supply shock, implying that the breakout could be a post-halving echo of the 2020 move. Price construction within the wedge also mirrors the earlier cycle: successive lower highs and higher lows compress volatility until an impulsive weekly bar pierces resistance. The horizontal line intersecting the new breakout—will be the first major test of post-wedge momentum. Below, the lower dashed boundary intersects in the region between $0.10 and $0.09; a weekly close beneath that floor would invalidate the fractal. Kaleo distills the setup into a single line: “Dogecoin under 20 cents is free.” On the chart’s scale, the red quote-box at $0.1604 sits a hair’s breadth under the $0.20 psychological band, reinforcing the idea that the risk-to-reward profile remains asymmetric so long as price stays below that number. Whether history rhymes as precisely as the analyst’s fractal suggests will hinge on broader market liquidity and Bitcoin’s dominance, but from a purely structural perspective the meme-coin has already checked the same boxes it did four years ago. And the US Federal Reserve money printer hasn’t even started roaring again. At press time, DOGE traded at $0.161.

From September this year, large mining and metals companies with business activities in the UK will be subject to a new “failure to prevent fraud” (FTP) offence. Introduced under the Economic Crime and Corporate Transparency Act 2023 (ECCTA), FTP applies to fraud committed by persons “associated” with a firm, where that offence is intended to benefit the organisation or its customers. “Associated persons” can be employees, agents or subsidiaries of a firm, and include those who perform services on behalf of the business. The use of local agents and third-party service providers, to perform functions such as investigating opportunities, liaising with government authorities, securing permits and permissions, are particularly common working arrangements for mining companies, especially those with branches or operations in multiple jurisdictions. As the FTP offence applies to all incorporated entities and partnerships that meet at least two of the three qualifying criteria of having more than 250 employees; turnover exceeding £36 million; and/or assets exceeding £18 million, this will take in a large swathe of UK-based mining and metals companies, as well as international companies with UK offices. The mining industry has historically been regarded as a high-risk area for fraud, as mining and metal refining operations are often located in jurisdictions or regions where opportunities and incentives to commit fraud are prevalent. Managing cost is also crucial in the mining sector due to fluctuating demand and prices for metals and minerals, which increases pressure to control costs and meet targets by whatever means necessary. Additionally, the mining industry’s long, complicated supply chains are typically opaque and can provide opportunities for fraud to occur. Focus of FTP The FTP new offence shifts the focus from preventing frauds of which the business is the victim, to fraud committed by employees or associated third parties that benefit the organisation itself. Examples of fraud committed by companies in the mining and metals sector for their own benefit might include materials not being delivered in the quantity or quality that has been procured; claiming there are employees on the payroll who don’t exist – for example to comply with local employment regulations; or falsification of documents, such as permits, delivery notes or invoices to speed up what can be frustratingly slow projects. It is important to note that, for the purposes of the new FTP offence, fraud is distinct from corruption, which can include paying bribes, an illegal practice that is dealt with by the UK Bribery Act, which came into force in July 2011. Like the Bribery Act, the new FTP offence is expected to significantly impact mining and metals companies’ compliance obligations in the UK and internationally. Preventing fraud FTP is a strict liability criminal offence, which means that where an underlying fraud can be proven, the organisation will be deemed liable for failing to prevent it. Provided the fraud can be (legally and practically) prosecuted in the UK, if convicted, the firm may receive an unlimited fine in addition to significant reputational damage. The only defence to the offence is for a firm to show it had reasonable and proportionate controls in place to manage the risk. In most mining and metals companies, as in other firms, the biggest risk will be offences committed by employees or people who work for the business in some capacity. According to the 2024 Association of Certified Fraud Examiners (ACFE) global Report to the Nations, which covers all types of fraud including those where businesses are the victim of frauds committed by either insiders or third parties, 78% of frauds reported last year were committed by employees (37%) or managers (41%), while the remaining 19% of frauds were committed by owners or executives. This means mining company HR teams will need to play an important role in helping to build effective control frameworks, providing advice on the people risks inherent in choices made by the business, and using data collected and held on individual workers and the workforce as a whole to help spot where there is a risk of fraud being committed. But even where the risks are clear, identifying fraud before it takes place can be tricky – especially for globally spread-out mining companies. Most mining companies will have designated officers with responsibility for bribery and fraud as part of a wider compliance remit. However, many will now need to assess and understand their high-risk areas in relation to the new FTP offence and consider what additional controls need to be put in place. Fraud red flags While motivations to commit fraud vary considerably, human pressures – such as personal financial difficulties, demanding sales targets, over-work, discontent with working conditions and performance concerns – are common drivers. If a mining companies’ reward or bonus structure is weighted in a way that incentivises profit at all costs, this may serve as a business culture motivation for employees to breach fraud rules for their own personal benefit, which may have a knock-on effect that creates corporate criminal liability. The cyclical nature of mining means that lay-offs and job losses are common, which can also cause employees stress. HR teams are not always privy to employees’ feelings, but in many cases problems such as work-related stress and performance issues, which are red flag indicators for fraud, will be notified to HR and documented. ACFE’s 2024 report data showed that almost half of fraud perpetrators (45%) experienced at least one HR-related red flag, with poor performance evaluations (14%), fear of job loss (12%), and being denied a raise or promotion (11%) cited as the most common issues. However, for most mining companies, these red flag indicators will not make it out of the HR department and no additional safeguarding will be put in place to manage the potential higher risk. There are good reasons for this, such as restrictions on sharing personal data under the General Data Protection Regulation (GDPR) as well as general expectations of confidentiality by employees who confide personal problems in their HR colleagues. Some barriers to sharing information, such as siloed working practices and lack of awareness of how to spot fraud risk and deal with it can be overcome with appropriate training, policies and processes. Provided the HR team has identified and carefully considered a lawful basis (of which six exist under the GDPR) for sharing an employee’s personal information, this will be allowed under the GDPR. In the case of FTP, the lawful basis is likely to be “legal obligation” – i.e. the data processing is necessary for the organisation to comply with the law. Even where HR may feel less able to report on individuals, they can take responsibility for mapping patterns and escalating those. For example, if a number of people complain they cannot hit their targets, HR teams should be able to spot these patterns and query with managers whether those targets are in the right place. Other patterns or trends might include parts of the business where has been a lot of “churn” – i.e. people leaving the business and being replaced by new recruits, or there are outstanding vacancies in senior roles; these might mean there is less oversight of particular functions due to instability or lack of people to manage teams, which might give an opportunity for fraud to occur more readily. For individuals who report feeling stressed or unhappy with their jobs, or who are on performance improvement plans (PIPs), it is sensible to ascertain whether those people have non-essential access to material or assets that give them opportunities to commit fraud, particularly if they have moved roles during their employment and may have historic access to sensitive material. Mining HR teams should also consider working with senior management and team managers to instill a culture and appropriate channels where employees feel able to speak up, either about their own feelings or concerns about colleagues’ behaviour in relation to fraud. Government guidance on FTP states that top level commitment from business leaders is required to ensure fraud risk is minimised, detected and prevented. ___________________ Sarah Partridge-Smith is a counsel in the Regulatory and Investigations practice and Alex McGregor is a partner in the Litigation practice at Dentons.

📉 Emprego nos EUA Surpreende Negativamente e Abala Dólar: ADP Report Mostra Queda de 33 mil Vagas em Junho Dados alarmantes indicam deterioração no mercado de trabalho privado dos EUA. Pressão aumenta sobre o Fed em meio à guerra comercial e incertezas fiscais. Por Igor Pereira Analista de Mercado – Membro Junior Wall Street NYSE ExpertFX School – Análises Fundamentais e Técnicas com Visão Institucional 📌 Dados do Relatório ADP (Junho) Resultado atual: -33.000 empregos Expectativa do mercado: +105.000 empregos Dado anterior (maio): +37.000 empregos ➡️ Surpresa extremamente negativa para os mercados. ➡️ Pior resultado desde a pandemia e o primeiro dado negativo desde 2021. 🔎 Interpretação Técnica e Fundamental O relatório de empregos privados da ADP veio muito abaixo do esperado, gerando um choque de realidade sobre a fragilidade do mercado de trabalho norte-americano. A expectativa era de uma recuperação robusta após os resultados fracos de maio, mas o número negativo acendeu o sinal vermelho para o Federal Reserve. Combinado com as novas tarifas comerciais impostas pelo governo Trump e a elevação da incerteza fiscal, os dados reforçam a tese de que a economia dos EUA pode estar à beira de uma desaceleração mais severa do que o inicialmente previsto. 💬 Reação das Agências de Rating Pouco após a divulgação dos dados, a Fitch Ratings afirmou: Este posicionamento reforça o alerta de que a escalada protecionista e os desequilíbrios fiscais dos EUA estão afetando a confiança internacional, com reflexo direto nos Treasuries, no dólar e no apetite por risco. 📊 Impactos Imediatos no Mercado USD: Forte pressão vendedora nos principais pares, com destaque para EUR/USD e XAU/USD. XAU/USD (ouro): Ganhou força com a fraqueza do dólar e aumento da aversão ao risco. BTC/USD: Movimentos voláteis, com suporte na faixa dos US$ 105.000 sendo testado após rejeição do breakout. 📈 O Que Esperar a Seguir 🔹 O resultado ADP coloca forte pressão sobre o Fed para acelerar os cortes de juros, com chances reais de corte já na reunião deste mês (julho). 🔹 O mercado agora aguardará com grande atenção os dados do Payroll oficial na sexta-feira (05/07), que poderão confirmar ou invalidar a tendência de enfraquecimento estrutural no emprego. 🔹 O ouro permanece com viés altista estrutural em meio à perda de confiança no dólar, desvalorização da moeda americana (-10% no ano) e compras recordes de ouro por bancos centrais. ✅ Conclusão ExpertFX O dado ADP negativo é um divisor de águas na narrativa de “resiliência econômica” promovida pelo Fed nas últimas semanas. A deterioração rápida do mercado de trabalho, somada à instabilidade causada pelas tarifas, pode forçar mudança abrupta na política monetária dos EUA ainda no terceiro trimestre. O ouro deve continuar a ser beneficiado como reserva de valor e proteção contra instabilidade fiscal, inflação importada e perda de confiança no dólar. 📍 Acompanhe nossas análises completas com leitura institucional da ExpertFX School.

The Japanese yen is negative ground on Thursday. In the North American session, USD/JPY is trading at 144.06, up 0.47%. US-Japan trade talks stumble over .... rice The US and Japan are racing to reach a trade deal before a deadline of July 9. There are some serious roadblocks to a deal, including the current US tariff of 25% on Japanese cars and opening Japan's agricultural sector, particularly rice. President Trump has insisted that Japan import American-grown rice, but the Japanese government says that is unacceptable. Japan's Economy Minister Ryosei Akawaza said earlier this week that Japan would not "sacrifice the agricultural sector", while Farm Minister Shinjiro Koizumi said that foreign rice imports would threaten Japan's food security. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

📉 Bitcoin Testa Nível Crítico Após Falha no Breakout: O Que Esperar Agora? BTC/USD volta para região de suporte após rejeição técnica; mercado testa paciência dos compradores com nova fase de consolidação. Por Igor Pereira Analista de Mercado – Membro Junior Wall Street NYSE ExpertFX School – Análises Técnicas e Fundamentais com Visão Institucional 📌 Contexto Técnico Atual O Bitcoin falhou em manter-se acima da zona de resistência dos US$ 108.850, marcada em verde no gráfico, e recuou com força até a base da região de liquidez mais baixa, sinalizada em azul. Este movimento indica uma rejeição do breakout da estrutura de triângulo descendente (ponto 3), levando o preço de volta para níveis vistos há apenas dois dias, em torno de US$ 106.100–105.700 — região chave para definição da próxima tendência. 📊 Estrutura de Mercado 📉 Topo inferior 1–2–3 formado: Rejeição clara do padrão de continuação de alta. 🔵 Zona de suporte retestada: Região entre US$ 105.700 e US$ 106.100 foi defendida, por enquanto. 📈 Retorno à faixa de congestão anterior: BTC segue operando dentro do range entre US$ 102.100 e US$ 108.800. 🧠 Leitura Institucional ✅ O Que Observar nos Próximos Dias 🔹 Fechamento diário acima da zona azul: Será necessário um Daily Close acima de US$ 106.800 para retomar a força e tentar nova alta. 🔹 Reteste bem-sucedido: Após o fechamento, será fundamental observar um reteste sem perder o suporte recém-estabelecido. 🔹 Quebra da LTB (linha vermelha): O rompimento da linha de tendência descendente marcada no gráfico será um gatilho técnico claro de retomada da alta, mirando novamente os US$ 111.965. ⚠️ Riscos e Possível Cenário Negativo Caso o suporte atual falhe: Próxima região de suporte está entre US$ 102.100 a US$ 100.000 (confluência de liquidez e suporte diagonal). A perda desse patamar pode abrir espaço para queda até US$ 96.300 (última zona marcada por acúmulo e desbalanceamento). 📈 Conclusão e Projeção ExpertFX Apesar da falha na quebra da resistência superior, o BTC ainda mantém estrutura de suporte saudável, respeitando zonas de interesse institucional. O mercado permanece em estado de espera por catalisadores macroeconômicos, como: Decisões do Fed sobre juros (próxima reunião em julho); Volatilidade no índice DXY e curva de juros americana; Apetite de risco dos fundos institucionais pós-reuniões do FOMC. 🎯 Oportunidade: Para traders técnicos e institucionais, a configuração atual representa um ponto-chave de decisão: 📍 Acima de US$ 106.800 com reteste: entrada compradora rumo aos US$ 111.900 📍 Perda de US$ 105.700: aumento do risco de retorno aos US$ 102.100 e até US$ 96.300 Fique atento às atualizações na ExpertFX School. Receba alertas técnicos, leitura institucional e gatilhos de entrada antes dos grandes movimentos!

The Australian dollar is lower on Thursday. In the Europen session, AUD/USD is trading at 0.6556, down 0.41% on the day. Australia's retail sales lower than expected at 0.2% Australia's retail sales posted a small gain of 0.2% in May, up from a flat reading in April but shy of the consensus of 0.4%. The gain was driven by a strong rebound in sales in clothing and footwear, while food sales declined. On an annual basis, retail sales rose 3.3%, down sharply from 3.8% in April and the weakest pace of growth in six months. RBA expected to trim next week Today's weak data has bolstered expectations that the Reserve Bank of Australia will lower rates at next week's meeting. The money markets have priced in a cut at 97%, which would lower the cash rate to 3.6%. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

🌍 Bancos Centrais Disparam Compras de Ouro em Maio e Reacendem Tese de Alta Estrutural do XAU/USD 🔔 Compras líquidas aumentam após dois meses de queda, sinalizando retorno da pressão institucional sobre o ouro. Por Igor Pereira Analista de Mercado Financeiro – Membro Junior Wall Street NYSE ExpertFX School – Análises Profundas em Tempo Real 📈 Compras líquidas de ouro por bancos centrais voltam a crescer em maio Dados divulgados pelo World Gold Council em parceria com o FMI revelam uma reviravolta significativa no mercado de ouro global: os bancos centrais aumentaram novamente suas compras líquidas de ouro em maio de 2025, encerrando um breve ciclo de desaceleração nos meses anteriores. O gráfico divulgado mostra um aumento expressivo nas compras brutas de ouro (em azul claro), enquanto as vendas se mantiveram relativamente contidas (em roxo), resultando em um salto positivo nas compras líquidas (em amarelo). A movimentação confirma que o apetite dos bancos centrais por ouro continua intacto, e mais ainda: está se acelerando novamente. 📊 O Que Isso Significa para o Mercado? Essa retomada das compras por bancos centrais marca um novo capítulo no reposicionamento estratégico global: 🔹 A acumulação líquida, que já superava 1.000 toneladas por ano desde 2022, permanece sólida; 🔹 Em média, os bancos centrais vêm comprando quase 300 toneladas por ano, por instituição; 🔹 Maio de 2025 registrou o maior volume líquido em três meses, sinalizando retomada institucional em meio à incerteza geopolítica e monetária. 🧠 Análise Institucional por Igor Pereira 📌 Por que os Bancos Centrais estão comprando mais ouro? Perda de confiança no dólar após aumento de tarifas, déficits e uso político do sistema financeiro global; Desdolarização avançando nos BRICS+, com China, Rússia e Índia liderando o movimento; Busca por reservas neutras e resilientes, diante da crescente instabilidade geopolítica (Oriente Médio, Taiwan, Irã); Alta recente do ouro não representa topo, mas sim o início de uma nova fase de valorização estrutural. 🌐 Impacto no XAU/USD A continuidade das compras por bancos centrais gera uma base sólida de demanda institucional para o ouro, o que implica: Indicador Econômico Impacto no XAU/USD Liquidez emergencial via Fed Suporte de alta Queda do dólar em 2025 (-10%) Pressão compradora Tensões com China e Irã Demanda por refúgio Inflação "travada" acima de 2% Proteção estrutural 📉 O Sistema Monetário Está em Transição Enquanto o dólar americano enfrenta a pior performance semestral desde 1985, com perdas de mais de 10% e pressão crescente sobre os Treasuries, o ouro avança silenciosamente como a âncora de confiança global. Nas palavras do próprio Nassim Taleb: 🥇 Conclusão: Ainda é cedo para falar em "topo do ouro" Apesar dos mais de 75 recordes históricos do XAU/USD somente em 2025, os dados mostram que não estamos próximos de uma exaustão, mas sim no início de uma reprecificação global do ouro como ativo-base. Com os bancos centrais liderando o fluxo institucional, e investidores individuais ainda marginalmente expostos ao metal, o ciclo de alta pode estar apenas começando. 📢 Acompanhe nossas análises diárias do mercado de ouro (XAU/USD), com relatórios institucionais, leitura de fluxo da Comex, ETFs, bancos centrais e estratégias de posicionamento. Igor Pereira Analista de Mercado | Membro Junior Wall Street NYSE ExpertFX School – Desde 2017 no radar do investidor profissional

According to CNBC, corporate treasuries around the globe have surpassed exchange-traded funds (ETFs) in Bitcoin (BTC) acquisitions for three consecutive quarters. This indicates a growing interest among public companies to adopt strategies similar to those pioneered by Strategy, especially in a more favorable regulatory environment under President Donald Trump’s administration. Bitcoin Holdings Surge Data from Bitcoin Treasuries shows that public companies acquired approximately 131,000 Bitcoin in the second quarter of the year, marking an 18% increase in their BTC holdings. In contrast, exchange-traded funds managed to secure about 111,000 Bitcoin, representing an 8% growth during the same period. Nick Marie, head of research at Ecoinometrics, emphasized that the motivations behind these purchases differ significantly. While institutional buyers utilizing ETFs seek exposure to BTC for a variety of reasons, Marie asserted that public companies are primarily focused on accumulating Bitcoin to enhance shareholder value. The market dynamics have also shown that public company BTC holdings increased by 4% in April, a month marked by significant volatility following President Trump’s announcement of initial tariffs. During the same time frame, ETF holdings rose by only 2%. Marie noted that public companies are less concerned with Bitcoin’s current market price, prioritizing the growth of their Bitcoin reserves to appear more attractive to potential investors. ETFs Still Dominate In This Key Metric Despite the increasing activity from public companies, Bitcoin ETFs remain the largest holders of the cryptocurrency, collectively holding over 1.4 million BTC, or about 6.8% of the total capped supply of 21 million coins. Public companies, on the other hand, hold around 855,000 Bitcoin, approximately 4% of the total supply. The recent surge in corporate BTC accumulation is also a reflection of significant regulatory changes favoring the crypto industry. The last time ETFs outperformed public companies in Bitcoin purchases was during the third quarter of 2024, prior to Trump’s re-election. Several notable companies have entered the Bitcoin market recently. GameStop began acquiring Bitcoin after its board approved it as a treasury reserve asset earlier this year. Similarly, health-care firm KindlyMD merged with Nakamoto, a Bitcoin investment company, while investor Anthony Pompliano’s ProCap launched its own BTC purchasing initiative and plans to go public via a special purpose acquisition company (SPAC). Direct Exposure May Ease Strategy, formerly MicroStrategy, continues to lead the charge in the Bitcoin treasury space with approximately 597,000 Bitcoin in its possession. Following closely is Bitcoin miner Mara Holdings, which holds nearly 50,000 coins. Ben Werkman, chief investment officer at Swan BTC, remarked on the challenges smaller firms face in trying to match Strategy’s scale. He predicted that institutional capital will continue to gravitate toward Strategy due to its deep liquidity and established presence. Looking ahead, Marie suggested that the number of companies adhering to a BTC treasury strategy may dwindle over the next decade as the market matures. He noted that as more firms enter the space, the individual impact of each company will likely diminish. Additionally, as Bitcoin becomes more normalized, investor constraints regarding direct exposure may fade. Featured image from DALL-E, chart from TradingView.com

This morning's ADP release was not enough to trigger large volatility in Markets. The data came in at -33K vs a consensus of 95K, a consequential miss that led to a subdued market reaction. US Equity futures had gone up in the overnight session with the S&P 500 just grazing new all-time highs (6,229 on its CFD) and markets are now correcting, with however a slow but steady grind. ADP Employment measures private employment by US Firms and concerns around 30 millions of Americans , which represents a bit less than 10% of the US Population – Its correlation to the Non-Farm Payrolls data is not significant, a reason why reactions to ADP releases are less accentuated than the more global US NFP. The miss is nonetheless quite large and it will be interesting to see in the upcoming months how Trump's policies influence the difference in Private and Public US Employment, if there are disparities and how much of a difference in the economy this potential disparity generates. The current picture in US Indices point to similar rebalancing flows from Tech to Consumer Defensive/Manufacturing with the Nasdaq again leading on the downside (-0.40%) and the Dow Jones on top of Indices (-0.10%) – Futures point towards a small gap down at the 9:30 opening Bell. The US Dollar is starting to build a low as a potential technical bottom is attained. close Nasdaq 4H Chart, July 2, 2025 – Source: TradingView Nasdaq 4H Chart, July 2, 2025 – Source: TradingView The Nasdaq chart looks more balanced, subject to bear strenght compared to the US 30 chart seen right before. Prices broke through the upwards trendline that lead to the new All-time high price discovery (22,751 on the CFD) and have started to form what resembles a Head and Shoulders pattern – To supplement that, both the MA 20 and 50 are acting as immediate resistance and are starting to slope downwards. RSI Momentum is also in the same direction but close to oversold, therefore it will be key to see how markets react to the upcoming Opening Bell. Levels to watch for the Nasdaq: Local ATH Top – 22,700 Region ResistancePivot Zone 22,450Previous ATH Support Zone 22,250 (confluence with 4H MA 200) Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

HSBC has raised its average gold price forecasts for the next two years, citing heightened geopolitical risks and strong investor demand for bullion, as Reuters first reported. The bank now expects gold to average $3,215/oz in 2025 and $3,125/oz in 2026, up from previous estimates of $3,015 and $2,915, respectively. The updated outlook reflects a bullish view on gold’s role as a safe-haven asset amid global uncertainty. Spot gold reached a record high of $3,500.05 an ounce in late April. The metal was trading at $3,348.50 Wednesday morning. “We anticipate a wide and volatile trading range of $3,600-3,100/oz for the rest of the year and year-end prices of $3,175/oz for 2025 and $3,025/oz for 2026,” the bank said in a note on Tuesday. HSBC analysts noted that central bank gold purchases will moderate on further rallies above $3,300 and could increase should gold correct nearer to $3,000. On the physical front, the bank said further gold price gains above $3,500 could lead to reduced demand in the jewellery, coin and small bar markets, particularly in economies such as India and China. Goldman Sachs recently echoed a similarly bullish stance, forecasting gold to reach $3,700 by year-end and $4,000 by mid‑2026, with potential upside to $4,500 in extreme risk scenarios. Goldman also expects gold to continue outperforming silver, which is under pressure from weakening industrial demand, particularly in China’s solar sector.

According to CryptoQuant analyst Darkfost, long‑term Bitcoin holders are sitting on unrealized gains last seen during the October 2024 market dip. Right now, those holders show an average profit of 220% on coins they bought and held for the long run. That figure is surprisingly low given Bitcoin’s recent surge back above $107,000. Lower Profit Levels Than Previous Peaks Darkfost used the MVRV ratio — market value relative to the average cost paid by long‑term holders — to track these shifts. In March 2024, when Bitcoin pushed up to $74,500, MVRV hit 300%. Then in December 2024, at the $108,000 peak, it climbed to 350%. By contrast, today’s 220% gain reflects the fact that many long‑term holders bought in at much higher levels than earlier in the cycle. Price Needs To Rise To Match Past Gains Based on an average cost basis of $33,800, Bitcoin would need to climb back to $135,200 just to restore that 300% profit level. If the market aimed to hit the 357% mark again, prices would have to reach roughly $154,400. Both figures track with what history tells us about investor behavior — people tend to sell when profits hit big round numbers. Historical Cycle Comparisons Looking farther back shows how much room remains. In December 2017, at the $19,500 top, long‑term holders saw unrealized profits of 4,000%. Then during the 2020/2021 cycle, Bitcoin spiked to $63,000 in April 2021 and MVRV topped out at 1,230%. By November 2021, prices hit about $68,400 but unrealized gains for long‑term holders had already fallen to 340%. An analyst’s recent outlook lines up with this math, first pegging a cycle top at $135,000 in October 2024. After reviewing new data in May 2025, they revised the target range to $120,000–$150,000 and suggested a likely peak between August and September 2025. That range overlaps with the price levels needed to bring MVRV back to earlier highs. Room For More Upside, But Watch The Risks Based on latest figures, Bitcoin is trading at $106,750, roughly flat over the last 24 hours. Lower profit margins mean fewer long‑term holders are itching to sell right now, which could leave more fuel for higher prices. Still, on‑chain numbers don’t capture the whole picture. Spot-market flows, ETF moves and wider economic shifts can all trigger sharp reversals. For now, the evidence points to a market that isn’t overheated. If Bitcoin follows past cycles, it may have farther to climb before long‑term holders lock in gains at levels seen in March or December 2024. But investors should balance these on‑chain metrics with real‑world signals — and be ready for whatever comes next. Featured image from Imagen, chart from TradingView

USDT issuer Tether has been dealt a blow in its multibillion-dollar lawsuit with Celsius after a US bankruptcy judge ruled that the lawsuit can proceed. The judge denied Tether’s attempt to dismiss claims that it “improperly” liquidated Celsius’s Bitcoin collateral during the crypto lender’s collapse in 2022. Per court documents filed in New York on June 30, Celsius claims that Tether executed a “fire sale” of over 39,500 Bitcoin in June 2022, which it then used against Celsius’s $812 million debt without following pre-agreed procedures. Celsius Bitcoin Lawsuit Against Tether – Claims That Tether’s Liquidation Cost The Firm Over $4B In Bitcoin At Current Prices Celsius believes that Tether’s actions in the Summer of 2022 breached its lending agreement, violated the principle of “good faith and fair dealing” under British Virgin Islands law, and constituted fraudulent and preferential transfers that are avoidable under the US Bankruptcy Code. The complaint stems from a margin call Tether issued as the Bitcoin price plummeted. Celsius argues that Tether sold its collateral before a pre-agreed 10-hour waiting period, liquidating the BTC position at an average price of $20,656 below market levels, and later transferring the proceeds to its own Bitfinex accounts. In the filing, Celsius alleges that Tether’s liquidation of its Bitcoin position cost it over $4 billion worth of BTC at current prices. It further claims that Tether’s actions involved US-based communications, personnel, and financial accounts. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now This is key, as if proven true, it would establish sufficient ties for US jurisdiction, despite Tether’s incorporation in the British Virgin Islands and Hong Kong. In an early win for Celsius, the US judge agreed Celsius made a plausible case that the transfers and alleged misconduct were “domestic” in nature, rejecting Tether’s argument that the claims fall outside of US bankruptcy law jurisdiction. Last year, in August, Tether attempted to dismiss the lawsuit in its entirety, claiming that the US court lacked jurisdiction and that Celsius’s allegations fail to state valid claims. While the court dismissed some counts at the time, it allowed Celsius’s key breach of contract, fraudulent transfer and preference claims to proceed. TetherPriceMarket CapUSDT$157.85B24h7d30d1yAll time Tether CEO In The News After Refuting Claims The Company Is Going Public Last month, in June, Tether CEO Paolo Ardoino stated that the company has no plans to go public, following much speculation. Ardoino responded to rumours of a potential Tether IPO, dismissing the idea outright. This public denial did not stop the chatter, with analysts claiming a public offering could value the stablecoin giant at over $500 billion, which would put it higher than global corporations such as Walmart or Coca-Cola. Ardoino did, however, call the $515 billion valuation a “beautiful number,” although he suggested it might even undervalue Tether, considering its sizable holdings of Bitcoin and gold. Tether’s flagship product, the USD-backed stablecoin $USDT, is the third-largest digital asset, trailing only Ethereum and Bitcoin, with a market cap of over $157 billion. It is by far the most used stablecoin on the market, evidenced by its $38 billion daily trading volume. (SOURCE) Circle’s USDC stablecoin, widely recognised as the second-largest USD-backed stablecoin, has a market capitalisation of $61 billion and a daily trading volume of only $7 billion. Circle has been in the news recently after going public following a successful IPO. It is up 11% daily, trading for $192 and a market cap of around $42 billion. Considering that Tether’s USDT stablecoin processes nearly the same daily trading volume as Circle’s entire market cap, it is no wonder that Paolo Ardoino believes $515 billion for Tether may be undervalued. Meanwhile, Tether continues to expand its African footprint. Yesterday, it announced that it has signed a Memorandum of Understanding (MoU) with the Zanzibar e-Government Authority (eGaz) to advance digital asset education and financial innovation. The stablecoin issuer plans to integrate its USD-backed $USDT and gold-backed $XAUT stablecoins into the Zanmalipo payment gateway, improving available options for users locally. It is part of Tether’s long-term expansion strategy for Africa, aimed at boosting digital asset adoption on the continent. EXPLORE: 10 Best AI Crypto Coins to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates The post Judge Dismisses Tether’s Dismissal Bid In $4B Bitcoin Lawsuit With Celsius appeared first on 99Bitcoins.

Strategy, formerly known as MicroStrategy, is on track to report an impressive $14 billion in unrealized gains from its extensive Bitcoin accumulation strategy. Co-founded by Michael Saylor, the company has successfully transformed itself from a struggling enterprise software provider into a leading leveraged Bitcoin proxy, drawing comparisons to major corporate powerhouses such as Amazon and JPMorgan Chase. Strategy Set To Post Record Profits According to a recent Bloomberg report, Strategy’s anticipated profits stem largely from the rebound in Bitcoin prices and recent changes in accounting practices that allow the firm to value its substantial cryptocurrency holdings at market rates. Analysts project that while Strategy’s software business may only generate approximately $112.8 million in revenue for the second quarter, the surge in Bitcoin prices has significantly bolstered its financial outlook. This potential record profit comes after a turbulent period for the company, which faced criticism from notable investors like Jim Chanos. Chanos has publicly derided Saylor’s valuation model, describing it as “financial gibberish,” while Saylor has countered that Chanos fails to grasp the intricacies of his approach. Despite the skepticism, Mark Palmer, an analyst at Benchmark Capital, noted Saylor’s resilience, stating that he has consistently outperformed not only his critics but also the broader market. Since Saylor initiated his Bitcoin buying spree, Strategy’s stock has skyrocketed over 3,300%. In the same time frame, Bitcoin has appreciated approximately 1,000%, while the S&P 500 has advanced around 115%. The company’s shares saw a 40% increase in the second quarter, significantly outpacing the S&P’s 11% rise. $64 Billion Bitcoin Value The recent accounting change at Strategy, which took effect in the first quarter, allows the firm to recognize the market value of its Bitcoin holdings—currently valued at about $64 billion—resulting in substantial swings in reported earnings. Previously, the company treated its Bitcoin similar to intangible assets, which limited their ability to recognize gains unless the assets were sold. This change has positioned Strategy to capture the full benefit of Bitcoin’s price fluctuations. At the start of the second quarter, Strategy held 528,185 BTC, valued at over $43.5 billion based on market prices. An increase in the value of Bitcoin of 30% during the quarter alone contributed more than $13 billion to the company’s unrealized gains. Cumulatively, weekly purchases have brought the company closer to holding 600,000 BTC. Despite the positive outlook, the company has faced legal challenges, including several class-action lawsuits claiming that executives misled shareholders regarding the first-quarter losses. In response, Strategy has pledged to vigorously defend against these accusations. As of press time, BTC trades at $106,100, down 5% from its current record high of $111,800 during May’s rally. Featured image from DALL-E, chart from TradingView.com

Chile’s Congress has approved sweeping legislation to slash permitting times for mining and energy projects, aiming to boost investment in the world’s top copper producer and second-largest lithium supplier. The amendments, which passed with 93 votes in favour, 27 against, and 17 abstentions, amends over 40 sectoral regulations and now awaits the president’s signature to become law. The government says it will cut permit processing times by 30% to 70% without lowering environmental or regulatory standards. “This will allow us to substantially reduce permitting times while maintaining our regulatory rigour,” Economy Minister Nicolás Grau said in a statement. The long-awaited overhaul responds to pressure from the mining industry and renewable energy companies, which argued that protracted approval processes were stifling billions in potential investment. In the mining sector alone, project approvals can take up to 12 years. Despite recent declines in copper production, Chile is projected to retain its position as the world’s leading copper producer. Its share of global copper output is expected to rise from 23.6% last year to 27.3% by 2034, according to country’s state copper commission, Cochilco. Jorge Riesco, president of the National Mining Society (SONAMI), called the reform a step in the right direction but said more work is needed. “We value the efforts by the Executive Branch, particularly the Ministry of Economy, but we believe this is just the beginning,” he said. The changes are expected to have the most impact in northern Chile’s Antofagasta region, a hub for mining investment. “Improved permitting timelines not only streamline project execution but also offer greater certainty for regional and national economic planning,” Matías Muñoz, Regional Secretary of Economy, noted. A cornerstone of the reform is the institutionalization of the SUPER platform, which is a mandatory digital one-stop shop for permit applications. The system promises end-to-end traceability, service interoperability, and real-time case tracking. The online application portal will work alongside a newly established Sectoral Authorizations and Investment Office, which will coordinate, advise, and modernize the permitting framework. ___________________________ Related: BHP gives Chile a $14 billion reason to cut red tape for mines

A growing number of Bitcoin and crypto market participants have fallen victim to a dangerous assumption: that summer in the crypto markets is synonymous with stagnation. However, crypto analyst Cristian Chifoi warns that this summer may follow a drastically different script. In a video analysis released on July 1, Chifoi lays out a compelling case that 2025 fits a historical pattern that has previously delivered some of Bitcoin’s strongest summer performances. Summer 2025 Could Flip Bitcoin’s Script Chifoi’s thesis is based on a concept he has long explored: Bitcoin seasonality—a recurring, cyclical behavior in Bitcoin’s price action across the calendar year, especially in relation to the four-year halving cycles. According to Chifoi, there is an identifiable seasonal window from mid-January to mid-March where Bitcoin historically shows explosive movement in one direction, only to reverse course in the subsequent months. This pattern has held across multiple years and cycles. In 2021, for example, Bitcoin rallied from $28,000 to $60,000 between January and March before collapsing back to $28,000 by summer. The opposite occurred in 2023, when Bitcoin dumped in Q1 and reversed upwards during summer. “From January 22nd to March 11th [2024], we had a 2x on Bitcoin,” Chifoi noted. “And if the price moves in one direction in this window, it tends to do the exact opposite after that. That’s the seasonality reversal.” Chifoi highlighted this tendency across previous cycles as well, identifying the same trend flip in 2022, 2023, and most notably in 2021. Critically, Chifoi warns that while most traders are anchored to the recent past—recalling three consecutive “boring” summers—this year is historically aligned with a different kind of setup. “Nobody is prepared for this summer,” he said. “Because people only look at the past three years. But those were not the years to look at.” Instead, Chifoi compares 2025 to three historical analogues: 2013, 2017, and 2021—all years that followed a halving and saw significant summer rallies. In each of those years, after early-year volatility or corrections, Bitcoin posted dramatic gains from mid-July into early September. In 2017, Bitcoin rallied 160% in that timeframe. In 2021, the move was 77%. “The common factor in those years? They were one year after a halving, with a post-March reversal in trend,” Chifoi explained. “Now we are in the same window again. And people are not looking at it.” First Crash, Then Surge? The analyst also emphasized that current price action fits his broader fractal thesis. After Bitcoin’s local top at $109K earlier this year and the rejection that followed, the market appears to be chopping sideways—something he predicted back in late 2024. He expects this phase to continue into July 20, potentially ending with a sudden flush to the downside. But this, he argues, would be the setup for the next leg higher. “Don’t be surprised if the drop comes with a lot of bad news,” he said. “Every time there’s a dump before a rally, the media has a narrative ready. That doesn’t mean it’s real. It just means the market is doing what it always does—shake out the majority.” Chifoi also addressed broader market confluences, notably pointing out similar behavior in the S&P 500, where a corrective move in early July appears to align with his crypto timing model. He expects a pullback in both markets to precede the next upward thrust, targeting a Fibonacci resistance zone that historically acts as a pause point during price discovery. Despite his bullishness, Chifoi made it clear he’s not buying Bitcoin right now. “I already bought below $20K,” he said. “At this point, I’m watching altcoin charts, looking for pullbacks to accumulate.” He expressed frustration at the prevailing narratives circulating among large X accounts, particularly those pushing for rotating altcoins into Bitcoin under the assumption that dominance will rise indefinitely. “This is very stupid,” he said bluntly. “The market is behaving exactly as it should—for the fewest number of people to make money.” In closing, Chifoi cautioned that those who insist on saying this time is different will likely find themselves on the wrong side of the trade. “Only if this time is different will this not play out. But if you base your strategy on those words, I can guarantee you 99% of the time, you won’t make money.” As the July 20 pivot approaches, Chifoi’s analysis suggests that Bitcoin’s next move may catch a complacent market off guard. Whether or not history rhymes once more, the veteran analyst has made his stance clear: this is not a summer to sleep through. At press time, BTC traded at $106,880.

American Bitcoin, backed by Eric Trump, raises $220 million to expand its Bitcoin mining operations and bolster its BTC treasury. A subsidiary of Hut 8 Mining, the company aims to go public via a merger with Gryphon Digital Mining, trading as ABTC on Nasdaq. Since 2024, top-tier investors and hedge fund managers have been unable to ignore Bitcoin and the potential of some of the best cryptos to buy. Undoubtedly, BTC ▲0.75% has been the top performer over the last decade, outpacing even some of the hottest stocks, including Palantir and Nvidia. BitcoinPriceMarket CapBTC$2.13T24h7d30d1yAll time Amid the crypto boom, Wall Street investors have quickly adjusted their positions, funneling billions into crypto-linked public companies like Coinbase (COIN), Circle (CIRCL), and Robinhood (HOOD). Millions of dollars are also flowing into publicly listed crypto mining platforms, including Hut 8 and Marathon Digital. EXPLORE: Top Solana Meme Coins to Buy in July 2025 American Bitcoin Raises $220 Million to Expand Operations and Bolster Reserves On June 30, American Bitcoin, a crypto mining and holding company backed by the Trump family, announced it had raised $220 million in a private stock sale. According to Eric Trump, the Chief Strategy Officer, $10 million worth of shares were purchased using Bitcoin at an average price of $104,000. The goal is to expand its Bitcoin mining operations and strengthen its Bitcoin Treasury. American Bitcoin is a subsidiary of Hut 8 Mining, a Bitcoin mining firm with operations in the United States. According to the latest data, Hut 8 Mining has an installed power capacity of 1,322 MW, generating over 7.5 EH/s of Bitcoin hash rate. In late 2023, it merged with US Bitcoin. By January 2025, Hut 8 held 10,096 BTC, of which 9,106 BTC were mined and 990 BTC were purchased. The company also held $110 million in cash. By March 2025, its holdings increased to 10,264 BTC. American Bitcoin plans to go public through an all-stock merger with Gryphon Digital Mining. The entity will trade on Nasdaq under the ticker ABTC. Existing shareholders, including the Trump brothers and Hut 8, will retain 98% ownership of the new company. These rapid developments come just four months after Hut 8 partnered with the Trump brothers to launch American Bitcoin. In the deal, Hut 8 contributed nearly all its Bitcoin ASICs to American Bitcoin in exchange for 80% of the company’s stock. It remains unclear whether the Trump brothers hold the remaining 20%. In a press release, Eric Trump said Bitcoin mining, based on “favorable economics, opens an even bigger opportunity.” “From the start, we’ve backed our conviction in Bitcoin; personally and through our businesses. However, simply buying Bitcoin is only half the story. Mining it with favorable economics opens an even bigger opportunity. We’re excited to bring investors into this equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.” Explore: 9+ Best High-Risk, High–Reward Crypto to Buy in July 2025 Inspired by Strategy Evidently, American Bitcoin is following Strategy’s playbook. Formerly MicroStrategy, Strategy has been rapidly accumulating Bitcoin regardless of market conditions and plans to raise $2.5 billion to acquire more Bitcoin. The latest data shows that Strategy controls 597,325 BTC, making it the world’s largest public Bitcoin treasury company, holding over 10 times the stash of Mara Holdings and over 50 times that of Tesla. (Source) Beyond Bitcoin mining, the Trump family is deeply involved in crypto. According to Arkham data, their World Liberty Financial DeFi platform currently manages over $180 million worth of assets, primarily Ethereum (ETH). (Source) Donald and Melania Trump also launched some of the top Solana meme coins in January, though their prices have slumped, dropping by over 60% from all-time highs. Senator Elizabeth Warren argues that their involvement in crypto creates conflicts of interest, especially given the Trump administration’s pro-crypto stance. DISCOVER: 16 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions & Analysis American Bitcoin Raises $220M for BTC Mining Expansion American Bitcoin secures $220 million to scale operations and boost BTC holdings American Bitcoin targets Nasdaq listing as ABTC Hut 8 Mining owns a big share of American Bitcoin The Trump family is deeply involved in crypto and DeFi The post American Bitcoin, Led by Eric Trump, Raises $220 Million to Boost BTC Holdings appeared first on 99Bitcoins.

Overview: The dollar's latest leg down began with the President Trump's heightened attacks on the Federal Reserve's conduct of US monetary policy on June 23. That move may be over. Perhaps helped by stronger than expected data yesterday and the rise in US rates. US rates have edged up further today, and the greenback is firmer against the G10 currencies. In a firmer US dollar environment, the Canadian dollar typically outperforms on the crosses and today is no exception. The Canadian dollar is off marginally. On the other hand, the yen is the weakest, off around 0.50%. Trump's protest that Japan does not buy rice from the US seems factually confused, but the end of the hiatus from the reciprocal tariffs is a week away and investors are on edge. Most emerging market currencies are also softer today, but foreign equity purchases and dollar sales by Taiwan exports saw the Taiwanese dollar surge. The central bank may have moved to cap its gains. The opposite took place in Hong Kong, where the HKMA intervened to cap the US dollar. Benchmark 10-year yields are mostly 2-5 bp firmer in Europe. German Bunds are a notable exception and the yield is flat. The 10-year Gilt yield has risen by five bp despite speculation that the BOE may reduce its sale of bonds from its balance sheet. The 10-year Treasury yield, which dipped below 4.20% yesterday for the first time in two months, is trading near 4.28% now. It has not traded above 4.30% in a week. Equities were mixed in Asia Pacific but are posting their first gain of the week in Europe. The Stoxx 600 is up almost 0.50% in late European morning turnover. US index futures are firm. Gold is consolidating in quiet activity after recovering by about $110 from Monday's low to Tuesday's high. For the sixth consecutive session, August WTI is chopping between roughly $64.50 and $66.50. USD: The combination of stronger than expected US data, Fed Chair Powell's warning of coming price pressures, and the backing up of US rates, saw the Dollar Index recover from early losses that carried it to the lowest level since February 2022 (~96.35). It is firm but holding below 97.00. We suspect it needs to resurface the 97.55 area to be notable, and even then, the 98.25 area may offer more formidable resistance. The data focuses squarely on the US labor market. While the employment component of the June manufacturing ISM weakened (45.0 vs. 46. 8), the May JOLTS report showed a larger than expected increase in job opening, a small increase in the quit rate, and a little decline in the layoff rate. Accommodation and food services accounted for the bulk of the increase in job openings in May and may reflect the discouragement of legal and illegal immigration. Today, attention turns to the Challenger Jobs Cuts, and the often more market-sensitive ADP private jobs estimate. In the first five months of the year, the ADP has estimated that private sector job growth averaged almost 103k. The BLS estimated that the private sector payroll growth average 117k in the January through May period. The average median forecast in Bloomberg surveys for private sector employment was near 137k in the first five months of 2024. ADP has been closer than economists to the government's estimate, on average. The June report is tomorrow due to Friday's holiday. It is expected to see a softening sequentially in job growth and hourly earnings, while the unemployment rate may tick up to 4.3% from 4.2%. EURO: After reaching its best level since September 2021 (~$1.0830) in late European morning turnover years, the euro was sold back to almost $1.1760. Buying emerged on the pullback and it settled above $1.18. It extended its advance. The euro has not fallen since June 17. That winning streak is at risk today. It has barely traded above yesterday's settlement and looks poised to test initial support in the $1.1755-60 area. A break could spur a test on $1.165-$1.1700. An under-appreciated fact is that despite the eurozone's sluggish growth since Russia's invasion of Ukraine, the unemployment rate remains near the record low under monetary union. The May report out earlier today put it at 6.3%. It has been 6.2%-6.3% since last August. CNY: The dollar recovered from CNH7.15, a new marginal low for the year to reach new session highs near midday in NY near CNH7.1650. It has edged a little higher today and is near CNH7.1680. Technically, it needs to re-establish a foothold above CNH7.1750 to be notable. After setting the dollar's fix 0.13% lower over the past two sessions, the PBOC increased it today by 0.02% to CNY7.1546 (CNY7.1534 yesterday). Separately, for the second time in two weeks, Hong Kong Monetary Authority was forced to intervene as the greenback approached the upper end of the band. It bought about HKD20 bln, around twice as much as last week's operation. However, one-month HIBOR was little changed at 0.73% despite the withdrawal of liquidity, which warns the pressure may continue. Caixin finishes its June PMI release tomorrow with the services and composite reports. Even if the services reading ticks down, the composite could rise back after the 50 boom/bust level after slipping below it (to 49 6) in May, which was the first sub-50 reading since the end of 2022. JPY: The seven-basis point increase in the US 10-year yield yesterday from high to low was not sufficient to lift the greenback against the yen yesterday. But it appeared to help fuel a full nearly full yen recovery off the ~142.70 low. It has pushed slightly above yesterday's high in the European morning to around JPY144.25, supported by firmer US rates. A move above JPY144.75 would lend credence to ideas that the dollar's leg down from the June 23 high (~JPY148) is over. Part of the new US tariff threat (30-35%) against Japan is predicated on a misunderstanding of the facts. Japan, in fact, imported $300 mln of rice from the US in 2024 and is on track to import more from the US. Under the WTO agreement, Japan is allowed to import 770,000 tons of rice without tariffs annually. In May, reports suggest that the US accounted for about 3/4 of the imported tariffed rice. Japan sees the weekly MOF portfolio report and the final services and composite PMI tomorrow. The market is not often sensitive to these data points. Bloomberg economists continue to underscore the risk of a July BOJ rate hike. The swaps market is incredulous. It does not even have a single basis point discounted. The swaps market has a little less than 14 bp of tightening discounted for the remainder of the year, which is lower end of where it has traded since mid-May. It has not discounted more than 20 bp since early April. GBP: Sterling reached almost $1 3790 yesterday, a level not seen since October 2021 near midday in London before being sold to a new session low slightly in front of $1.3700. It had already recovered to around $1.3740 before the government carried the closely watched vote in the House of Commons on disability reform. Sterling peaked in late dealing near $1.3750. It has come back offered today and has been pushed below yesterday's low (~$1.3700). Support is seen in the $1.3655-75 area. Prime Minister Starmer turned back the rebellion within his own party for the moment, but the political cost has yet to be paid. It was another reversal, and the government is caught between having to raise taxes or change the fiscal rule. Reeves looks to be increasingly in a no-win position. Adding to Reeves' challenge, the Office for Budget Responsibility admitted that the medium-term growth prospected were over-estimated (by an average of 0.3 percentage points at the two-year horizon and 0.7 percentage points after five years. On a cumulative basis over five years, the overestimation was 2.2 points on average. The slower the growth, the more potent the fiscal pressure. CAD: The US dollar briefly traded below CAD1.36 before the North American open yesterday. Rather than sell the downside break, buying emerged and the greenback peaked near the middle of the session around CAD1.3665. It is firm today but holding slightly below yesterday's high. Monday's high was near CAD1.3700, and it may be the first test. The June manufacturing PMI will be released today. It is not a market-mover. It rose in the last five months of 2024 and fell in the first four months of this year. It rose in May, but at 46.1 remained well below the 50-threshold. In Bloomberg's survey (conducted June 20-25), the median forecast was for a 0.5% annualized contraction in Q2, which is an improvement from the 1% contraction seen previously. AUD: The Australian dollar reached a new high since last November, a little below $0.6600 yesterday before the greenback's bounce pushed it back to almost $0 6560. It returned nearly to the highs in late North American dealings but has returned to $0.6560. A move below $0.6540-$0.6550 may signal the start of a consolidative/corrective phase. Australia reported a recovery in building approvals in May (3.2% vs. -4.1% in April, revised from -5.7%) and firmer retail sales (0.2% vs. flat in April, revised from -0.1%). The broader measure of consumption, household spending, which will be reported next week also picks up the slowing of the Australian consumer. The futures market has a little more than 85% chance of a cut at the July 8 central bank meeting, and slightly more than three cuts are fully discounted between now and the end of the year. The Reserve Bank of New Zealand meets next week, as well, but the swaps market has less than a 15% chance of a cut priced. MXN: The dollar's streak of recording lower highs and lower lows against the peso was extended to the sixth consecutive session yesterday. The greenback fell to almost MXN18.66, a new low since last August. Despite a recovery, the dollar's losing streak was extended for the seventh consecutive session. It is trading uneventfully in a narrow range, mostly between MXN18.73 and MXN18.7650. In the bigger picture, a break of the MXN18.60 area could signal a move toward MXN18.20 next. Mexico's auto sector is likely to come under more scrutiny as reports indicate that is has replaced Russia as the biggest destination for Chinese-made vehicles. There are also some concerns that China-based EV makers claim some vehicles are used though extremely low mileage and will export them to Mexico who will re-export them to the US. In Mexico, imported used cars face higher costs (tariff plus VAT, customs duties, and fees than new cars (not from the US or Canada). There are many barriers to then re-exporting those cars to the US. The US imposes safety and emissions standards, and imported used cars often require costly modifications to meet US rules. The Chinese vehicles Mexico imports are typically EVs priced 20-40% lower than comparable US, Japanese, or South Korean models, and load with popular features, such as panoramic sunroofs, large touchscreen computers, and driver assistance capabilities. Disclaimer

June was a strong month for the crypto and Web3 sectors, with related startups successfully raising a collective $1.15B across 140 deals. This represents a 3% increase in raised capital and a 9% increase in the number of deals compared to May, according to crypto market intelligence firm, Messari. The upward trend highlights growing confidence among angel investors in the potential of decentralized technologies. Big winners this round include Kalshi, a predictions market, which secured an $185M round, and Digital Asset, which raised $135M to develop its Canton blockchain. Private token sales also saw a resurgence, with World Liberty Finance bringing in $100M and Eigen Labs securing $70M. These figures paint a vibrant and expanding picture of growth and innovation within the crypto industry. Key Innovations Driving Investor Confidence Diving beyond the figures, the nature of the startups points to a focus on innovative and foundational technologies. Crypto startup, Zama FHE, for example, successfully closed a $57M Series B round, achieving a $1B valuation for its fully homomorphic encryption (FHE) technology. Investments in privacy solutions show a growing recognition of the importance of secure and scalable infrastructure for the future of Web3. Increasing deal counts and interest in core technological advancements are strong signals of the health and growth of blockchain and Web3 applications. Investors seek opportunities that align with market trends and demonstrate innovation and institutional confidence. Enter BTCBULL Token ($BTCBULL), a crypto ICO that offers direct pathways to capitalize on the market’s upward trajectory, making it one of the best crypto presales of 2025. Harnessing Bitcoin’s Momentum with BTCBULL Token ($BTCBULL) As the crypto landscape evolves, new low-cap projects emerge that leverage the strength of established assets. Among these, BTCBULL Token ($BTCBULL) provides a new and low-cost way for retail investors to capitalize on Bitcoin’s ascent. Just days from the end of its presale, $BTCBULL tracks and benefits from Bitcoin’s price movements, letting holders participate in the market’s bullish cycles. It’s built on the Ethereum blockchain, giving investors broad compatibility and accessibility, and leans into a bullish character, taking charge, helping $BTC reach $1M. Diverse Pathways to $BTC-Backed Returns Investing in $BTCBULL offers benefits beyond token appreciation. The biggest is the Bitcoin airdrops. As Bitcoin reaches significant price milestones ($150K and £200K), $BTCBULL holders who use Best Wallet (one of the leading non-custodial crypto wallets) can receive actual $BTC directly into their wallets. If that wasn’t enough, $BTCBULL has a deflationary model implemented through milestone token burns. At specific $BTC price thresholds, a portion of the $BTCBULL supply is permanently removed from circulation, aiming to increase scarcity and potentially the value of the remaining tokens. If you’re looking for a passive-income vehicle, the $BTCBULL presale offers attractive staking rewards with competitive APYs available (currently 52%). However, you need to get in fast, as the presale ends on July 7. Looking ahead, the multi-faceted rewards system should incentivize long-term holding and engagement. If you buy $BTCBULL today for $0.002585, you could see a return of 2401% if it reaches our end-of-2025 price prediction of $0.06467. Seize the Market by the Horns June’s crypto start-up funding figures and the continued push towards innovation paint a positive picture for the crypto market. For the savvy investor, picking projects like BTC Bull Token ($BTCBULL) to leverage the market’s movements could be a smart move. Just be sure to act fast, as the presale is moments from closing, and with it your chances of securing that free $BTC. Remember, this is not financial advice, and you should do your own research before making any investment decisions.

As Bitcoin (BTC) experiences another dip, falling 5% below its record high of $111,800 reached during May’s crypto rally, analysts are probing the reasons behind its stagnation in the $100,000 to $110,000 range. In a recent post on X (formerly Twitter), crypto analyst DanteX outlined the factors contributing to this price resistance and what it could mean for the remainder of 2025. What’s Holding Bitcoin Back? Despite the substantial influx of nearly $5 billion in Bitcoin acquired through exchange-traded funds (ETFs) in just a few weeks, the price of Bitcoin has failed to surpass the $120,000 target identified by analysts. Public companies, Strategy and GameStop, have joined the ranks of institutional buyers, marking a significant shift in corporate interest toward Bitcoin. This growing demand indicates that there are substantial buyers ready to purchase at prices above $100,000. However, DanteX asserts that the market has been characterized by an unusual phenomenon: the analyst alleges that someone appears to be “strategically offloading” Bitcoin in the $100,000 to $110,000 range, effectively absorbing the demand and preventing upward movement. This selling pressure seems to come from a major player—reportedly hedge funds or early investors—actively liquidating positions to offset the inflow of institutional capital. Market Exhaustion Or Distribution? As the market enters the latter half of summer, a historically weak period for cryptocurrencies, concerns arise about liquidity and retail interest. DanteX noted that if the Bitcoin price cannot rally now, amid significant buying and market enthusiasm, the outlook may dim as trading volumes decline. The analyst further shared that the current price stagnation at near-record highs often indicates either market exhaustion or a distribution phase, suggesting that while demand exists, it is being countered by strategic selling. Despite the overall positive macroeconomic environment—where stock markets are soaring, real yields are declining, and liquidity is increasing—DanteX highlights that the Bitcoin price remains unresponsive. The analyst stated that it could imply that current holders may not be ready for a breakout or are intentionally limiting potential gains. Interestingly, when Bitcoin price movements stall, capital tends to flow into altcoins, which are often viewed as higher-risk, higher-reward investments. DanteX believes that the current skepticism surrounding the likelihood of an altcoin season amid the current market condition, could actually set the stage for one, as many investors remain “under-positioned.” Record ETF Inflows Fail To Translate Into Price Gains The role of ETFs cannot be overlooked, DanteX further said. He said that while record inflows into ETFs signal strong institutional interest, they do not always correlate with immediate price increases, especially when met with significant selling pressure. DanteX notes that much of the exchange-traded fund exposure may be hedged or arbitraged, resulting in a complex market dynamic where asset growth does not immediately reflect in Bitcoin’s spot price. Looking ahead, the analyst suggests monitoring the activity of large wallets, especially those exhibiting selling patterns that align with recent price suppression. Watching macroeconomic indicators, such as potential Federal Reserve rate cuts or shifts in the value of the dollar, is also said to be crucial as these factors could influence market sentiment. Featured image from DALL-E, chart from TradingView.com

SOL shot up 5% on Solana ETF news and then gave it all back. Hype in crypto is a fickle mistress like a Florida man on bath salts: unpredictable, charming, somewhat lovable. Meanwhile, SOL is drifting near critical supply and demand zones; its next move hangs in the balance as traders weigh flash momentum against deeper support. SolanaPriceMarket CapSOL$79.75B24h7d30d1yAll time Solana ETF Driven Surge Meets Immediate Resistance The ETF announcement initially brought renewed interest in Solana, driving a brief 5% price jump. Yet, its rally faced immediate rejection at the $160 mark, a level coinciding with a known H4 (4-hour) supply zone. At this point you have tofeel bad for SOL holders. It makes you wonder if last cycle’s altcoins are perennial slow movers: This zone that SOL is stuck in is effectively absorbing buying pressure, leading to SOL’s reversal back into the $144.5–$147.7 range. According to recent 99Bitcoin’s analysis, Solana’s behavior was predictable, as it reacted to the supply zone by pulling in longs before reversing course. Key Support and Resistance Levels After Solana ETF News SOL is clinging to a crucial patch between $144.5 and $147.7. If SOL falls through this support its next safety net is much lower, around $124 or even down near the psychological graveyard of $100. A $100 SOLbefore GTA 6 releases is not something we had on our 2025 bingo card. Bulls are eyeing $160. Break and close above that, and things could flip bullish quickly. (SOLUSD) While Bitcoin chops near all-time highs, SOL and other altcoins are lagging, dragged by risk-off sentiment and a broader market that is desperate for Fed rate cuts and quantitative easing. Price action is still locked in a descending channel from May’s failed $180 breakout. Every bounce looks temporary for SOL and momentum is thin. What’s Next for SOL? Data from Glassnode reveals that the real danger for SOL is below the support line. If $144 fails to hold, there’s not much to cushion the drop. The thin order book between $100 and $124 could turn a dip into a nosedive. Bulls need to hold the line As it stands, Bitcoin, the forever market mover, will likely decide if SOL bounces or bleeds. Holding this range could spark a recovery but losing it could drag price back into the abyss. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways SOL shot up 5% on Solana ETF news and then gave it all back. While Bitcoin chops near all-time highs, SOL and other altcoins are lagging, dragged by risk-off sentiment and a broader market that is desperate for Fed rate cuts and quantitative easing. The post Solana ETF Rally Fades as Charts Signal Potential 20% Drop appeared first on 99Bitcoins.

The SEC Grayscale deal just greenlit Grayscale’s plan to convert its Digital Large Cap Fund (GDLC) into a spot ETF. It’s another step toward folding crypto into Wall Street’s standard menu. The move gives everyday investors direct exposure to top digital assets, and no wallets or seed phrases are required. What the SEC Grayscale ETF Brings to the Table Bitcoin makes up the lion’s share of Grayscale’s GDLC ETF, but it’s not alone. Built on the CoinDesk 5 Index, the fund also pulls in Ethereum, XRP, Solana, and Cardano. It’s crypto-Jesus for the TradFi crowd, and as we’ve written about all this cycle, retail is being left in the dust while it is institutions who are driving the bull market. The SEC’s approval signals a long-overdue pivot. After years of stonewalling spot Bitcoin ETFs, the regulator was forced to blink, thanks, in part, to Grayscale’s legal win in 2023. Now the agency’s reluctant approval of GDLC reflects mounting pressure from institutions and pension funds looking for clean, regulated access to crypto. The ETF will hit NYSE Arca soon. What This Means for the Crypto Market Grayscale’s green light could be the first crack in the dam. 99Bitcoins analysts now expect a flood of crypto ETFs into Polkadot, Sui, Sei, Dogecoin (unironically, LOL), Avalanche, and even Tron. For investors, it’s about finding the crypto assets they want to legitimize. The SEC’s nod signals that crypto isn’t lawless but maturing slowly but surely. Hey… So Where Do We Go From Here? Grayscale’s ETF marks another step in crypto’s march into mainstream finance. “We’re thrilled,” said CoinDesk Indices’ Andy Baehr, calling it a win for investors chasing top-tier digital assets in one package. As ETFs stack up, the SEC is playing catch-up to a market that’s already moving on. EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The SEC Grayscale deal just greenlit Grayscale’s plan to convert its Digital Large Cap Fund (GDLC) into a spot ETF. Grayscale’s greenlight could be the first crack in the dam. 99Bitcoins analysts now expect a flood of crypto ETFs into Polkadot, Sui, Sei and more. The post SEC Grayscale deal Greenlights Multi-Asset Crypto: Debuts As US First appeared first on 99Bitcoins.