Analysis: "BTC, CME Futures Premium Decline...Signal of Weakening Institutional Investor Sentiment"
As the Bitcoin futures premium on the Chicago Mercantile Exchange (CME) has sharply declined, analysis suggests that institutional investor sentiment is weakening. According to CoinDesk, 10x Research, a cryptocurrency market analysis firm, stated that "the annualized premium of CME's BTC 3-month futures contract is currently at 4.3%, the lowest level since 2023. Despite Bitcoin's price maintaining over $100,000, the decline in basis (difference between futures and spot prices) suggests that expectations for future price increases have weakened or uncertainty has increased. This downward trend coincides with the negative funding rates of perpetual futures on major overseas exchanges."
BTC Whale Withdraws $143 Million BTC from Binance
OnChainLens reported that an anonymous whale withdrew 1,345 BTC ($143 million) from Binance in the past two hours. Exchange withdrawals are typically interpreted as holding purposes.
BTC Investors' Unrealized Profits Approach $1.2 Trillion...No Profit-Taking Movement
CoinTelegraph, citing Glassnode data, reported that Bitcoin investors' unrealized profits have reached $1.2 trillion, approaching the all-time high of $1.3 trillion at the end of last year. Glassnode explained that "BTC is currently forming a strong support line near the average purchase price of $98,300 for short-term holders (less than 155 days). Most investors are holding BTC despite being in profit, with almost no profit-taking sentiment in the current range. Additionally, selling pressure from short-term holders has significantly decreased since BTC set a new all-time high in May."
ETH Spot ETF Sees $55.3 Million Net Inflow
According to Parsifal Investor data, the US Ethereum (ETH) spot ETF received a net inflow of $40.7 million ($55.3 billion) on July 1st. This marks the third consecutive day of net inflows. BlackRock's ETHA saw $54.8 million in inflows, while Fidelity's FETH experienced a net outflow of $24.1 million.
Anonymous Whale Deposits $168 Million BTC to Binance
OnChainLens reported that an anonymous whale deposited 1,595 BTC ($168 million) to Binance in the past 40 minutes. Exchange deposits are generally interpreted as potential selling purposes, though this does not necessarily mean immediate selling.
June Centralized Exchange Spot Trading Volume Lowest in 9 Months
TheBlock reported that June's centralized cryptocurrency spot trading volume was $1.07 trillion, the lowest in nine months. Presto Research analyst Min Jung analyzed, "While BTC remains stable near its all-time high, most altcoins, including ETH, are still 40% down from their peaks. The market structure, driven by institutional BTC focus, continues while individual investor participation remains low."
Tether Unveils New Layer-1 Blockchain Stable
TheBlock reported that Tether (USDT), the dollar-based stablecoin issuer, plans to launch a new Layer-1 blockchain called Stable. The stablechain is a network capable of processing thousands of transactions per second, with block confirmation times under 1 second and full EVM compatibility. It adopts USDT as its native token and integrates with USDT0, a Layer Zero (ZRO)-based decentralized token linked to USDT.
Zhao Changpeng: "US Cryptocurrency Regulation Improvement Speed Accelerating...Will Promote Global Expansion"
In an interview with Morgan Creek Digital Assets co-founder Anthony Pompliano, former Binance CEO Zhao Changpeng assessed the cryptocurrency industry's future as "very optimistic". He stated, "Institutional and corporate funds are actively entering the market through cryptocurrency ETFs. Blockchain technology has potential beyond simple transactions or financial functions, contributing to public infrastructure like government administration, taxes, and medical insurance. Moreover, the US cryptocurrency policy improvement speed is faster than expected, and these policy changes will encourage similar legislation and regulatory improvements in other countries."
Analysis: "Only 3 out of 56 Listed Cryptocurrencies This Year Exceeded $1 Billion FDV"
Cryptocurrency analyst Ash (@ahboyash) analyzed that among the 56 cryptocurrencies listed with VC support this year, only three projects - KAITO, Story Protocol (IP), and Wallace (WAL) - have exceeded a fully diluted valuation (FDV) of $1 billion. Ash explained, "VCs typically invest $20-100 million in seed rounds, with received tokens often locked up for about 3 years after the Token Generation Event (TGE). However, some project token prices are currently lower than at the seed round, causing VCs to incur losses."
Bit Digital Raises $162 Million through Equity Offering...Plans Partial ETH Purchase
US Bitcoin mining company Bit Digital (NASDAQ ticker: BTBT) announced raising a total of $162 million through a recent equity offering. Bit Digital plans to use part of the funds to purchase Ethereum (ETH).
Fireblocks Transfers $2.34 Million W to Jump Crypto
OnChain analyst ai_9684xtpa reported that cryptocurrency custody firm Fireblocks transferred 33.1 million W ($2.34 million) to an address estimated to belong to Jump Crypto. Jump Crypto is an investor and parent company of Wormhole, which declared independent operation at the end of 2023.
VOOI Launches V2 Mainnet
According to The Block, VOOI, a decentralized exchange (DEX) supported by YZi labs, has launched its V2 mainnet. VOOI V2 aims to provide a simplified interface that eliminates obstacles such as wallets, bridges, and dashboards that previously hindered individual investors from starting trading. VOOI V2 has implemented chain abstraction functionality, allowing users to easily use various EVM-compatible networks including Ethereum, BNB, Arbitrum, Optimism, and Base. They plan to expand support to non-EVM chains in the future.
Metadium to Launch AI-Based Interactive Explorer 'MChat'
Metadium (META) announced through its official medium that it will launch an AI-based interactive blockchain explorer called MChat. MChat provides a natural language-based interface with existing blockchain explorer functions and real-time responses related to Metadium. Metadium also mentioned that it is developing a new AI-based interactive service called Daepa in collaboration with various partners.
Scalp Rises 41% in 24 Hours
Scalp (SCA), a DeFi project based on Sui, has recorded a 41% increase to $0.1248 according to CoinMarketCap. It is the highest rising cryptocurrency in the Sui ecosystem. Currently, 41% of SCA's circulating supply is locked up, with approximately 46 million SCA locked for 3.76 years.
BTC Perpetual Futures Long/Short Ratio at Top 3 Futures Exchanges
The recent 24-hour BTC perpetual futures long/short position ratio based on open interest at the world's top 3 cryptocurrency futures exchanges is as follows:
Overall Exchanges: Long 49.7% / Short 50.3%
1. Binance: Long 49.7% / Short 50.3%
2. Bybit: Long 49.79% / Short 50.21%
3. Gate.io: Long 49.74% / Short 50.26%
Binance Delists 4 Spot Trading Pairs
Binance announced through its official website that it will delist the ACT/EUR, FIO/BTC, TNSR/FDUSD, and TST/FDUSD spot trading pairs on the 4th at 12:00 (Korean time).
BTC Surpasses $107,000
According to Coinness market monitoring, BTC has surpassed $107,000. On the Binance USDT market, BTC is trading at $107,000.
