Good morning, Asia. Here’s what makes news in the markets:
Welcome to Asia Morning Briefing, a daily overview of top stories during the US HOURS and an overview of market movements and analysis. For a detailed overview of US markets, see Coindesk’s Crypto Doybook Americas.
As East Asia begins its work day, Bitcoin is down 1.8%and trades over $ 117,800 as dealers make some profits after BTC pushed through several high times.
While there is a belief from some market participants that the rally has just begun, with calls to BTC to hit 160K, 200k, and further, OKX’s most important commercial officer, Lennex Lai warns that the risk is building as fast as market enthusiasm.
“Across platforms, we see an increase in aggressive long positions and expand financing rates as ‘Crypto Week’ headlines increase the mood,” Lai told Coindesk in an interview via telegram. “At these levels, risks can quickly build up – escalating merchant tensions with the EU, Mexico and other trading partners can trigger sharp corrections. Another risk is to let Euphoria drive decisions.”
LAI points to a slate with upcoming macro messages -such as the British CPI release and the American core PPI, retail sales and consumer enthusiast that may have an impact on the global risk sight and set the tone of wider markets.
These concerns reiterate finds from K33 Research’s H1 2025 Market Report, which highlighted similar risks and volatility triggers earlier this year.
According to K33, geopolitical turmoil and uncertainty about trade policy have already driven significant market fluctuations, such as a correction of 30% to $ 75,000 earlier this year.
The report specifically noted, “Bitcoin fought at this risk of risk, but showed subtle hints of relative strength vs shares by surpassing shares in the wake of Liberation Day.”
In addition, K33 highlighted historically low financing rates in the midst of rising prices, which signalized cautious mood among experienced dealers who remain on duty against sudden market swords.
“Annual financing rates were on average with 4.51% throughout the year, the lowest average half-year financing rate since December 31, 2022,” when the after-FTX crypto winter was on its coldest, the report said.
“In moments like this, smart dealers focus on strategy rather than mood by using discipline to control risk,” Lai continued. “The excitement at the top is real, but those who manage their items, outputs and financing exposure carefully are best placed for what comes next.”
After all, he concluded, “strong momentum does not mean that the market is invincible.”
Maple Finance is Crypto’s largest asset manager
Maple Finance is now the greatest CEO of the chain, overhauling Blackrock’s tokenized money market fund BUIDL, according to data from a Dune Analytics Dashboard that tracks real-time defi-active flows. An increase of over $ 100 million in new deposits this week pushed Maple’s total assets under management (AUM) To $ 2.9 billion that eclips the Buidl’s $ 2.3 billion.
While Buidl is drawing capital with its ultra-conservative exposure to short-term US treasuries and cash equivalents, Maple appeals to more risk-tolerant institutions by offering dividends through sub collateralalized loans to vetted trading companies and crypto-native borrowers. This model, which is dependent on delegated credit insurance rather than rug overcollateralization, now seems to be scaling faster.
The milestone suggests a growing appetite for the yield defi-credit products in the midst of continued macrous certainty. It also marks a rare case in which a decentral credit protocol has surpassed a larger tradfi established as a blackrock on-chain, at least of RAW AUM.
Ai tokens rally when Big Tech doubles on infrastructure
AI-focused the crypto-tok’s skipped 5% overnight and pushed the sector’s market capital to $ 29.6 billion, according to CoingeCKO. The move comes in the midst of a wave of AI and data infrastructure messages from major US tech companies, triggering renewed investor enthusiasm across both equity and token markets.
Google said Tuesday that it will invest $ 25 billion in data centers and AI infrastructure across PJM Electric Grid, America’s largest, while also accepting to buy 3,000 megawatts of hydroelector via $ 3 billion with Brookfield. Meta meanwhile planning “hundreds of billions” in AI-Datacenter buildings, including a multi-gigawatt system called Prometheus In Ohio.
The messages were timed around a Trump administration-led summit at Carnegie Mellon University, where over $ 90 billion in AI, energy and data infrastructure lights was revealed. The bullish tone at AI, from both government and industry, seems to be wasting in token markets, at least for now.
Market Movement:
BTC: Bitcoin trades with $ 117,810.33, down 1.69%, and failed breakout trials gave way to high volumes, narrowing consolidation and thinning of liquidity, signal market’s fatigue and expectation before the next macrocatalyst, according to Coindesk’s research technical analysis data.
ETH: Ethereum rose 2.6% to $ 3,066.57 in a fleeting 24-hour session, rebounding from a $ 2,933.50 low as institutional currents, record tackle and strong volume burned a breakout past $ 3,075, signaling renewed bullish momentum.
Gold: Gold dropped 0.56% to $ 3,331.55, even as a New London Bullion Market Association (Lbma) Opinion showed that analysts turning more bullish with upgraded 2025 forecasts on average $ 3,324.40 driven by geopolitical tensions, dollar weakness and tax concerns, although opinions remain split about whether prices will climb against $ 4,000 or fade to the end of the year.
Nikkei 225: Asia-Stophav markets are set to open mixed after President Trump announced a preliminary trade agreement with Indonesia, which includes a 19% US customs on its export.
S&P 500: The S&P 500 angled 0.4% lower after affecting an intraday record as the rising treasury gives and an inflation reading of 2.7% June raised concerns about customs price pressure despite a strong bank earnings and NVIDIA-led tech gains.
Elsewhere in crypto:
- Legitimate privacy tool or dirty money ‘laundry’? Attorneys debate the role of Tornado Cash on Day 1 in Roman Storm Attempt (Coindesk)
- Can Genius Act save banks from stableecoins? (Blockworks)
- ‘Existential threat’: The Bitcoin proposal would freeze Satoshi’s quantum-vulnerable coins (Decryptter)
