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CoinDesk analyst James Van Straten stated that the Bitcoin funding rate has fallen to its lowest level since 2023, and historical patterns show that such signals often coincide with market bottoms. According to Glassnode data, the seven-day moving average of the funding rate has dropped to about -0.005%.The funding rate is the fee that long and short positions pay each other periodically in perpetual contracts to keep the contract price aligned with the spot market. When the rate is positive, longs pay shorts, reflecting bullish market sentiment; when the rate is negative, shorts pay longs, indicating a bearish market. Despite the funding rate being persistently negative from March to April this year, Bitcoin still oscillated upward from the $60,000 to $65,000 range to about $75,000. Historically, a deeply negative funding rate often coincides with Bitcoin's phase bottoms: during the market crash triggered by the COVID-19 pandemic in March 2020, Bitcoin fell to about $3,000; it dropped to $30,000 during China's mining ban announcement in 2021; it hit a low of about $15,000 during the FTX collapse in November 2022; and it briefly fell below $20,000 during the Silicon Valley Bank crisis in 2023. During the yen arbitrage trade closure in August 2024 and the "Liberation Day" sell-off in April 2025, negative funding rates also appeared alongside phase lows. The continued negative funding rate indicates that even if the price trend is positive, short positions remain at a high level. This divergence may suggest that the market is climbing within a "wall of worry," and a large number of short positions could become fuel for further price increases.

According to CoinDesk, Bitcoin is currently hovering around $75,000, facing supply pressure, but institutional demand remains stable.Market sentiment is boosted by news of the extended ceasefire between the U.S. and Iran. The dollar has fallen to a near six-week low, and U.S. Treasury yields have also declined, conditions that typically support cryptocurrency prices; gold has risen in tandem, indicating that the market is seeking a balance between risk appetite and safe-haven demand.On-chain data shows that when prices reach a key cost benchmark for short-term holders, Bitcoin often experiences a supply surge. This level is around $76,800, which could constitute significant resistance, at which point investors may choose to take profits when breaking even.The newly established MSBT fund under Morgan Stanley has quickly attracted over $100 million in inflows due to the market's lowest fee rates, prompting competitors like Goldman Sachs to initiate a new round of competition.Meanwhile, the U.S. blockade of Iranian ports and Iran's threats to disrupt shipping in the Persian Gulf continue to cast a shadow over the global economic outlook. The impact on energy supply has begun to raise inflation expectations, which may influence central bank policy direction and, in turn, affect the cryptocurrency market.

According to analyst Alicharts, Bitcoin is at a critical turning point. Bitcoin is testing the 100-day Simple Moving Average (SMA) resistance level, marking its third test in six months. The previous two tests ended in failure: in October last year, Bitcoin faced rejection, leading to a 30% drop from $116,000 to $80,000. In January, Bitcoin similarly faced rejection, resulting in a 39% drop from $97,000 to $59,800.Alicharts warns that a third rejection here would represent a significant structural failure. It could trigger a triple top effect, potentially pushing Bitcoin's price back to the annual low of $59,800. If BTC can ultimately break through this barrier and close above the 100-day SMA, then the upper limit will be breached. A breakout here would open a direct path to $80,000 - $84,000, confirming that the macro adjustment may have ended.

According to Jin Shi reports, U.S. Treasury Secretary Besant stated that Trump's tariff levels may return to the levels before the Supreme Court abolished multiple imposition orders by early July. Besant mentioned that, although it is difficult to predict when the consequences of the war in Iraq will affect the U.S. economy, the current economic situation remains strong, with an expected growth rate exceeding 3% or even 3.5% this year. He also pointed out that the continued decline in core inflation is a good sign and stated that the Federal Reserve has consistently misjudged the inflation issue.

JPMorgan CFO Jeremy Barnum stated during the earnings call that if regulatory rules are not aligned with traditional bank deposits, stablecoins may evolve into a "regulatory arbitrage" tool. He pointed out that some stablecoin models already exhibit deposit-like characteristics, such as providing incentives similar to yields, but are not subject to banking regulatory requirements like capital, liquidity, and consumer protection, which could create an unfair competitive environment. "If the same products are not regulated equally, it will open up arbitrage opportunities," Barnum said.Currently, U.S. legislation is pushing for a cryptocurrency regulatory framework, including the Clarity Act, to clarify the regulatory division of labor between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, and to regulate the development of the stablecoin market. Additionally, whether to allow stablecoins to distribute reserve earnings to users has become a point of contention. Cryptocurrency companies, including Coinbase, support "interest-bearing stablecoins," while banks believe this would bring them closer to deposit products but lack corresponding regulatory constraints. JPMorgan expressed support for regulatory clarity but emphasized that "regulatory consistency" takes precedence over speed. At the same time, the bank is advancing product layouts, including JPM Coin and tokenized deposits, through its blockchain division Kinexys to modernize the payment system.

XRP Ledger announced the integration of zero-knowledge infrastructure provider Boundless to support banks and asset management institutions in executing transactions on the public chain that balance privacy protection and compliance.According to reports, this solution can hide sensitive information such as transaction size, frequency, and counterparties, while still allowing regulatory agencies to conduct audits through selective disclosure and role-based access control, thus achieving a balance between privacy and compliance. This integration will support institutional scenarios such as cross-border B2B payments, fund and capital management, over-the-counter (OTC) trading, tokenized asset issuance, and on-chain trading and lending.Industry insiders believe that the contradiction between the transparency of public chains and the demand for privacy has always been a significant barrier to institutional adoption, and this solution aims to reduce the so-called "transparency tax." Meanwhile, competition in the privacy track continues to heat up. Technologies such as zero-knowledge proofs (ZK) and fully homomorphic encryption (FHE) are accelerating implementation, pushing privacy capabilities from optional features to underlying infrastructure. Data shows that the market size of tokenized assets has reached approximately $29.25 billion, with a monthly increase of about 7.9%.

According to Jinshi reports, the Iran war has restored the traditional relationship between the dollar and stock market volatility, with risk-averse investors flocking back to U.S. assets. Since the outbreak of the war, the positive correlation between the dollar and the fear index VIX has continued to strengthen, currently nearing its highest level since 2024. Shaun Osborne, Chief Foreign Exchange Strategist at Scotiabank, stated that if the situation in the Gulf region does not trigger a significant and sustained rebound in VIX, the dollar may further widen its decline.

Bitcoin is approaching the key resistance level of $75,000, with several analysts stating that this level could mark the turning point for the market from consolidation to a new upward trend.Mati Greenspan, founder of Quantum Economics, pointed out that if BTC can effectively hold above $75,000, it would signify a structural breakthrough and could attract new funds into the market; however, if it fails to maintain this level, it may form a "bull trap," although there is still strong support around $65,000.Coinmetro CEO Kevin Murcko stated that round numbers like $75,000 are usually areas where traders concentrate their bets, making it easy to trigger profit-taking and buying-selling discrepancies.Analysts further noted that if a breakout is confirmed, BTC is expected to rise to the $85,000 range, but the upward potential still depends on factors such as the macro environment, ETF fund inflows, and market liquidity.Meanwhile, there are also views that $75,000 is more of a psychological barrier, and true structural confirmation may require holding at a higher level.

Crypto analyst Willy Woo tweeted that the inflow of funds into Bitcoin has just turned positive, marking the first time since January, and liquidity is being restored.At the same time, the spot market remains stable, while the derivatives market is currently attempting a second rebound after being hit hard on October 10.Willy Woo pointed out that $80,000 is the current key testing level.

According to Gate market data, on Monday morning in the foreign exchange market, the US dollar index DXY broke 99, rising 0.45% during the day; the euro against the US dollar EUR/USD fell 0.5%, reported at 1.665; the US dollar against the Swiss franc USD/CHF and the US dollar against the Japanese yen USD/JPY both rose about 0.2%; the New Zealand dollar against the US dollar NZD/USD fell 0.7%; the Australian dollar against the US dollar AUD/USD plummeted 1%, falling below the 0.7 mark.

Macro analyst Jordi Visser stated that although the market generally expects the cryptocurrency industry to enter a bear market, Bitcoin and Ethereum are less than 10% away from triggering key levels for a trend reversal.He pointed out that if Bitcoin breaks above $76,000 and Ethereum rises above $2,400, it could mark the beginning of a sustained upward trend for the year. Visser believes that the probability of a recession in the U.S. in the short term is low, a judgment that aligns with the pricing of the prediction market Kalshi, which currently estimates the probability of a recession in 2026 to be around 24%.He also noted that in the context of high inflation and a lack of clear growth momentum in traditional markets (such as the S&P 500), funds may continue to flow into asset classes with income potential. However, there are still divergences in the market; veteran trader Peter Brandt recently stated that the low point for Bitcoin this year may not have occurred yet, and prices could retest or even fall below the $60,000 range. Visser emphasized that the market should not be simply divided into bull and bear cycles, but should be judged from a longer-term structural and liquidity change perspective.

According to official news, Circle has released its vision for the development of the internet financial system in 2026, proposing to focus on building cross-chain interoperability infrastructure, liquidity orchestration capabilities, and an institutional-grade asset issuance system to promote the efficient flow of value in a multi-chain ecosystem.In terms of cross-chain infrastructure, Circle stated that it will launch features such as "Fast Transfer" in the future, achieving second-level settlement without waiting for final confirmation from the source chain, thus improving the efficiency of fund utilization. In the asset expansion layer, the CCTP plans to extend to more assets beyond USDC, including EURC, USYC, and cirBTC, and support the issuance and circulation of real-world assets (RWA) across multiple chains.In addition, Circle is advancing cross-chain process coordination, simplifying multi-chain operational processes through tools such as Bridge Kit, Deposit Kit, Fee Service, and Workflows, achieving "one-click" cross-chain interaction, reducing development complexity, and enhancing user experience.

According to The Block, Bitcoin has continued to fluctuate at high levels this week, with prices remaining above $72,000, influenced by the situation in the Middle East and U.S. CPI inflation data. The spot Bitcoin ETF recorded a net inflow of $358 million, while Ethereum funds saw an additional approximately $85 million in funding.Analysts point out that although the risk premium has decreased due to the ceasefire in the Middle East, the market has not yet returned to normal, with oil prices, interest rates, and crypto assets closely linked. The March CPI increased by 3.3% year-on-year, slightly below expectations, with rising energy costs being the main driver. Institutional investors remain cautious about risks, and the options market indicates that summer volatility may tend to calm down. The current Bitcoin trend is driven by macroeconomic and geopolitical factors, with traders waiting for more data to determine the subsequent direction.

The commodity market is significantly affected by geopolitical fluctuations, and the price of crude oil continues to oscillate at high levels. According to Gate's market data, WTI crude oil (XTIUSDT) is currently priced at $94.51, down 1.51% in the last 24 hours; Brent crude oil (XBR) is currently priced at $93.90, down 1.87% in the last 24 hours. Against the backdrop of increased price volatility, the trading volume of related contracts has also risen.According to CoinGlass data, the trading volume for Gate's XTI (WTI crude oil) contracts in the last 24 hours is approximately $30.43 million, with an open interest (OI) of about $7.26 million; the XBR (Brent crude oil) contracts have a trading volume of $14.03 million in the last 24 hours, with an open interest (OI) of about $4.65 million, ranking first in the industry.Currently, Gate's contract sector has fully covered traditional financial assets including stocks (63 types), metals (12 types), indices (15 types), foreign exchange (3 types), and commodities (3 types). The trading targets include mainstream varieties such as gold, silver, platinum, crude oil, natural gas, euro, pound, Dow Jones Industrial Average, Hang Seng Index, etc., supporting continuous trading 7×24 hours, with a maximum leverage of 100 times, continuously creating an efficient multi-asset one-stop trading platform for global users.

According to CoinDesk, Flare has announced a governance proposal to capture Maximum Extractable Value (MEV) at the protocol layer, with a newly established entity, FIRE, responsible for revenue reinvestment and the buyback and burn of FLR tokens.The plan includes a three-phase block construction overhaul: first, block builders will be designated by the Flare Entity, then Flare Confidential Compute will be introduced for public auditing, and finally, builders will be merged with proposers, with original validators transitioning to a verification role. The proposal also reduces the annual inflation rate of FLR from 5% to 3%, lowers the annual hard cap from 5 billion to 3 billion tokens, increases the base gas fee to 1,200 gwei, and is expected to raise the annual burn amount to 300 million tokens. These measures aim to optimize the network's economic model and enhance the transparency and security of the protocol.

Telegram founder Pavel Durov stated that The Open Network (TON) has completed a major upgrade, increasing block generation speed by 6 times, overall performance improved by about 10 times, and transaction confirmation time has been reduced to sub-second levels, achieving a "near-instant" transaction experience.TON officials stated that this upgrade is based on Catchain 2, and the previous confirmation time of about 10 seconds limited instant payments and application response experiences, while this upgrade will make it possible to "complete payments like sending messages." In addition, TON also stated that higher block generation frequency will enhance validator earnings and strengthen staking incentives. Pavel Durov called this upgrade the first step of the "Make TON Great Again" seven-step plan, with the next phase aiming to further reduce transaction fees by about 6 times.

According to CoinDesk, Bitcoin is currently priced at about $71,200, and Ethereum is at $2,185, with the overall market maintaining a range-bound fluctuation. Bloomberg analyst Mike McGlone warned that if Bitcoin cannot recover to $75,000, there is a risk of dropping to $10,000; Fundstrat founder Tom Lee believes that the market bottom has been established.In terms of derivatives, Bitcoin futures open interest has risen to 726,000 contracts, with the 24-hour CVD being positive for two consecutive days, and the funding rate slightly above zero, indicating an overall bullish tendency; the CVD and funding rates for ETH, XRP, and Solana are slightly negative. The volatility index continues to decline, with the market expecting price fluctuations of only about 2.5% around Friday's inflation data.Regarding altcoins, MANA and AERO each rose by about 6%, but MANA's increase was accompanied by a 25% surge in open interest, indicating it is mainly driven by leverage. The market is focused on whether Bitcoin can effectively break through $75,000 and establish support; if achieved, it may trigger a rotation of funds into oversold altcoin sectors.

Applied Compute, which builds dedicated intelligent companies for enterprises, has completed a $80 million financing round, reaching a post-money valuation of $1.3 billion. Kleiner Perkins led the investment, with participation from Elad Gil, Lux Capital, Greenoaks, NEO, Hana Bicapital, among others, bringing the total financing to $160 million.Applied Compute's mission is to bridge the gap between "smart" and "useful" through "Specific Intelligence." These proprietary intelligent agents are trained based on the real operational conditions of the company and are designed for continuous self-evolution. They help enterprises unlock their institutional context, train agents for specific workflows and performance standards, and deploy them to the production front line.

The ruling Democratic Party of Korea proposed the "Basic Law on Digital Assets" this Wednesday, aiming to establish a comprehensive legal framework for the issuance, trading, custody, and supervision of digital assets.The bill categorizes value-related digital assets, such as stablecoins linked to fiat currency or real assets, as a special category, requiring issuers to obtain authorization and meet strict standards such as capital thresholds, reserve plans, and redemption obligations. In addition, the bill will introduce a licensing, registration, and information disclosure system for digital asset businesses, prohibit improper behaviors such as market manipulation and insider trading, and propose the establishment of a Digital Asset Committee to coordinate policy.