TokenPost
Hello. This is the TokenPost podcast. It's Wednesday evening, July 2nd, 2025. How are you wrapping up your day? We will provide you with the key market trends and notable news of the cryptocurrency market today. Let's first look at the market trends. It seems to be slightly mixed overall. BTC is almost the same compared to 24 hours ago, rising by 0.16% and trading at around $107,047, which is approximately 145 million won. On the other hand, ETH is somewhat sluggish, dropping by 0.32% to $2,452, about 3.32 million won.
Host
Yes, major altcoins are also showing a somewhat expensive trend. XRP has fallen by about 1.22%, and SOL has also dropped by 1.11%. Overall, it feels like a slight adjustment.
TokenPost
I see. Let's also look at the overall market size. The total cryptocurrency market capitalization is about $3.292 trillion, approximately 4,470 trillion won. The trading volume over the past 24 hours was about $101.2 billion, around 137 trillion won.
Host
Here's something noteworthy: Bitcoin's market share has slightly increased to 64.66%, while Ethereum's share has decreased to 8.99%. It seems to be slightly tilting towards Bitcoin.
TokenPost
Yes, the price itself seems to be holding well above $100,000, but an interesting analysis came out today. There's news that the Bitcoin futures premium has dropped sharply, raising questions about whether institutional investors' sentiment has somewhat contracted.
Host
When calculated, it dropped to 4.3%.
TokenPost
4.3%? What level is that?
Host
This is the lowest level since 2023. So, despite Bitcoin's price maintaining over $100,000, the basis, which is the difference between futures and spot prices, has narrowed. This can be interpreted as expectations for price increases weakening or market uncertainty increasing.
TokenPost
The price is high, but expectations are low - that's somewhat unexpected. How should we interpret this? Can we see it as a positive signal of initial overheating cooling down? Or should we view it as a risk signal?
Host
Actually, it can be interpreted both ways. Some might see it as overheating being resolved, but from another perspective, looking at the perpetual futures funding rates of major overseas exchanges turning negative suggests a decrease in short-term price decline betting.
TokenPost
A negative funding rate means that those taking short positions are receiving interest from long position holders, right?
Host
Yes, that means demand has shifted towards short positions, indicating a stronger short-term bearish sentiment. This suggests that institutional perspectives might have become somewhat more conservative.
TokenPost
I see. We should keep in mind the possibility of short-term institutional sentiment changes. Are there any other on-chain data or indicators telling a different story?
Host
Yes, there are a few more things to look at. First, the whale movements are interesting. One whale withdrew about $143 million worth of BTC to a personal wallet from Binance - an enormous amount. This is usually seen as a signal of long-term holding.
TokenPost
A long-term holding signal, but...
Host
However, another whale deposited $168 million worth of BTC to an exchange, which typically suggests a potential selling movement. This shows that even among big players, opinions are divided.
TokenPost
Even the whales are now going in different directions. This might confuse individual investors. What other news do you have?
Host
Regarding the Ethereum spot ETF, it has seen inflows for three consecutive trading days. About $40.7 million came in on the 1st, but looking closely, money flowed into BlackRock's product while funds were withdrawn from Fidelity's product.
TokenPost
Ah, the ETF details are different.
Host
Also, Bitcoin investors' unrealized profits have reached nearly $1.2 trillion. According to Glassnode data, there's almost no profit-taking movement around the average purchase price of $98,300, especially for short-term holders. The "hold" mentality remains strong.
TokenPost
The "hold" spirit is still strong. Understood. There's also some bad news about trading volume. In June, centralized exchange spot trading volume was at a 9-month low, which suggests individual investor participation is somewhat sluggish.
Host
Yes, that's right. It seems that while institutions are leading the market, individual investors' active participation is still somewhat lacking. Lastly, Binance's former CEO Zhao Changpeng still views institutional capital inflow and improvements in the US regulatory environment positively. He also suggested that this would lead to global expansion.
TokenPost
Yes, summarizing today's content, while Bitcoin's price itself is maintaining a high level, signals are emerging in the futures market that institutional short-term expectations are somewhat dampened, and other indicators such as whale movements and individual investor participation are showing mixed trends, suggesting a phase where the market is still exploring its direction.
Host
Yes, that's accurate. Here's a question for listeners to consider: What impact will the temperature difference between Bitcoin, led by institutions, and relatively underperforming altcoins have on the overall market in the future? And also, these contrasting whale movements - are they simply signaling short-term volatility or do they imply something else? These are aspects we need to continue monitoring.
TokenPost
Yes, this seems like a very important question. This is the content we prepared today. This concludes the TokenPost podcast. We hope all listeners have a pleasant evening.
