Risk-off holds, DOGE bleeds - Has the high-beta trade snapped?
The post Senate Passes Donald Trump’s Big Beautiful Bill appeared first on Coinpedia Fintech News The U.S. Senate has passed President Donald Trump’s massive $3.3 trillion spending bill, nicknamed the “Big Beautiful Bill.” While it still requires approval from the House, the crypto world is already buzzing about what this could mean for Bitcoin, Ethereum, and beyond. Santiment reported that crypto markets are showing a clear bullish bias following the Senate’s narrow approval of the bill. According to their update, Bitcoin miners could benefit from the bill’s inflationary implications, while Elon Musk has expressed frustration over the legislation. Despite its controversy, the bill is fueling optimism across the crypto sector. Bitcoin Could Shine Amid Soaring Debt The bill would significantly raise the U.S. national debt, triggering inflation concerns. Historically, investors have looked to Bitcoin as a hedge against both inflation and a weakening dollar. If inflation picks up or trust in the dollar slips, Bitcoin could see strong demand as a digital safe haven. Ethereum and Altcoins in the Mix Market analyst Marius suggests that Ethereum and infrastructure-based altcoins may also benefit, as investors seek higher-risk, high-reward assets. However, speculative tokens and meme coins could underperform, especially in a cautious market environment. Additionally, the bill’s broader macroeconomic impact plays a significant role. With over $4.5 trillion in tax cuts and $1.2 trillion in entitlement cuts, without any revenue offsets, the bill is expected to increase inflationary pressure in the U.S. economy. This strengthens the appeal of Bitcoin and other cryptocurrencies as a hedge against the debasement of fiat currencies. [post_titles_links postid=”477412″] Crypto Reaction Crypto analyst Crypto Dad highlights that the newly passed “Big Beautiful Bill” offers a significant boost to the crypto sector. Notable crypto-friendly provisions include: A de minimis exemption for transactions under $300 simplifies everyday crypto usage. Tax deferrals and simplified rules for staking and mining rewards make participation more attractive. Combined with the inflationary pressure from massive tax cuts and spending hikes, Bitcoin’s narrative as an inflation hedge is gaining traction. As regulatory clarity improves and macroeconomic risks rise, crypto markets, especially Bitcoin, appear well-positioned for an upward move. Institutions May Stay Cautious While retail interest is likely to grow, institutions may remain cautious. Rising debt and the potential for Federal Reserve tightening could lead big investors to wait for more clarity on interest rates and inflation trends.If the bill passes the House with its crypto-friendly provisions intact, it could spark a broader rally in Bitcoin, Ethereum, and select altcoins. However, the final impact will hinge on the Federal Reserve’s next move and whether inflation pressures lead to another rate hike. [article_inside_subscriber_shortcode title=”Never Miss a Beat in the Crypto World!” description=”Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.” category_name=”News” category_id=”6″]
Real estate tycoon Grant Cardone’s private equity firm Cardone Capital announced a 1,000 BTC acquisition on Friday, June 27. The bitcoin ( BTC) is worth more than $100 million at current prices and is part of Cardone’s foray into implementing a bitcoin treasury strategy after a curious meeting he had with Michael Saylor, Chairman of
Asian shares slipped Wednesday, while the dollar hovered near its weakest levels in over three years as traders weighed the odds of rate cuts in the United States and raced to secure trade agreements before Trump’s July 9 tariff deadline. Trump had mentioned that he would not extend that deadline for nations to strike new trade deals. He again cast doubt on reaching a pact with Japan but expressed confidence that a trade agreement with India could be finalized in time. MSCI’s Asia-Pacific index of stocks outside Japan dipped 0.23% in early trade, pulling back from the record high reached last week. In Tokyo, the Nikkei 225 reduced 0.78%, weighed down by losses in technology stocks. In Taiwan, the tech-heavy Taiex index has retreated by 0.31%, and South Korea’s Kospi has also lost ground by 0.87% at press time, mirroring a pullback in U.S. technology firms that had enjoyed strong gains in June. On Tuesday, data showed U.S. job openings climbed in May, underscoring the resilience of the labor market. Investors are now focused on the closely watched payrolls report, which is due to be released on Thursday. This report could offer fresh clues about the timing of Federal Reserve rate cuts. The central bank wants to wait and see how tariffs will affect inflation Jerome Powell , facing pressure from President Trump to lower rates right away, mentioned that the central bank may “wait and learn more” about how tariffs might affect inflation before easing policy. Markets currently price in about 64 basis points of rate cuts in 2025, with just a 21% chance of a reduction in July. That outlook has kept downward pressure on the greenback. The euro was last trading at $1.1799, right under Tuesday’s three-and-a-half-year peak. The yen held steady at $143.52 a dollar. “Any disappointing economic data can prompt further dovish repricing of FOMC rate cuts and another round of USD selling,” Carol Kong from Commonwealth Bank of Australia stated. She added that the newly passed “One Big Beautiful Bill” Act, as well as ongoing trade developments, could further undermine confidence in the US economy and weaken the dollar. Attention has also turned to Trump’s hefty tax and spending package, which analysts estimate will incur $3.3 trillion in federal debt. The measure passed the Senate by the slimmest of margins and now moves to the House of Representatives to get an approval. Despite raising fiscal concerns, bond markets barely flinched. The yield on the US 10-year Treasury note stood at 4.245%, after touching a 2 months low during the last session. Rising fiscal pressures, coupled with trade uncertainties along with questions about the US interest rate path, have driven investors to seek alternatives to American assets. Many fear that erratic trade policies may dent U.S. growth prospects. Dollar is down over 10% while gold eased to $3,332.19 an ounce As a result, the dollar has slid more than 10% so far this year, marking its worst performance in the first half of a year since 70s. The dollar index that tracks the greenback against six other currencies stood around 96.649. It is the lowest level since March of 2022. In commodity markets, gold eased at $3,332.19 an ounce as it jumped 1 percent in the prior session. The metal has rallied 27% in 2025 amid safe-haven buying. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Authorities in both the United States and Switzerland are taking decisive steps to address mounting concerns in the digital asset space. In Connecticut, Governor Ned Lamont has signed a bill into law prohibiting state agencies from accepting or holding cryptocurrency, marking a clear policy shift away from public sector crypto engagement. Meanwhile, Swiss regulators have directed Swissquote, the parent company of the crypto-enabled Yuh app, to address a surge in phishing and impersonation scams, which have targeted users through hundreds of fraudulent websites. Connecticut Draws a Line on State Crypto Holdings with New Law Signed by Governor Lamont Connecticut Governor Ned Lamont has signed into law a bill that formally restricts the state government’s use and custody of digital assets. House Bill 7082, which was passed by both chambers of the state legislature earlier this year, was signed on Monday and is set to take effect on Oct. 1. Draft of House Bill 7082 (Source: LegiScan ) The new law specifically prohibits Connecticut’s government from “accepting or requiring payment in the form of virtual currency” and from “purchasing, holding, investing in or establishing” any form of cryptocurrency reserve . In doing so, Connecticut becomes one of the first US states to formally enshrine such restrictions, even as the federal government and other states push forward with bold pro-crypto initiatives. A Rebuff to the National Momentum The legislation, introduced by state Representative Jason Doucette in February, effectively places a hard stop on the integration of digital assets into state operations. It arrives in sharp contrast to federal initiatives introduced by President Donald Trump, including an executive order earlier this year establishing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” These national-level directives seek to expand the federal government’s digital asset holdings through both purchases and seizures, positioning the US as a potential global leader in state-backed crypto reserves. Connecticut’s decision to move against digital asset integration comes at a time when a political rift is emerging around cryptocurrency policy, both at the federal and state levels. President Trump’s close ties to crypto industry figures and his broader push to make the US a hub for blockchain innovation has amplified these divisions. While Connecticut now stands firmly against state-level digital asset reserves, other states are moving in the opposite direction. Texas Governor Greg Abbott approved a bill in June to create a state-managed cryptocurrency reserve. Similarly, New Hampshire Governor Kelly Ayotte signed legislation in May to establish a state-held Bitcoin treasury, and similar proposals are being explored in states like Wyoming and Florida. Meanwhile, several other states have attempted but failed to enact similar legislation in 2025. Legislative efforts in South Dakota, Montana, and Pennsylvania to create Bitcoin reserves were unsuccessful, reflecting ongoing concerns over volatility, regulatory uncertainty, and ideological opposition. This divergence of strategy among the states suggests that digital asset policy is becoming a new axis of partisan and regional disagreement, akin to previous battles over cannabis legalization, environmental regulation, and healthcare. Beyond banning crypto use in state transactions and reserves, HB 7082 also updates licensing rules for crypto-related businesses operating in Connecticut. The legislation includes additional compliance requirements for money transmission licensees dealing in digital assets, further tightening the regulatory framework in a state known for its cautious approach to fintech innovation. These changes could have implications for crypto exchanges and fintech startups seeking to operate in Connecticut, potentially leading to an outflow of crypto-related business to more permissive jurisdictions. A Fork in the Road for State-Level Crypto Policy With the passage of HB 7082, Connecticut joins a minority of US states opting to explicitly restrict government engagement with digital assets. Whether this conservative posture becomes a model for other skeptical legislatures or a footnote in a larger wave of crypto adoption remains to be seen. The disconnect between state and federal strategies, and between states themselves, highlights the current disjointed regulatory landscape of the US crypto ecosystem. As the industry continues to mature—and as political influence shapes its future—Connecticut’s stance may be viewed either as prudent risk management or as a missed opportunity to participate in the evolving digital economy. With the bill set to take effect in October, Connecticut officials now face the task of enforcing this policy in an era where digital assets are increasingly embedded in commerce, finance, and even politics. Swiss Regulators Crack Down on Phishing Surge Targeting Crypto Platform Yuh Meanwhile, Swiss regulators have ordered Swissquote, the parent company of the crypto-friendly Yuh app, to take urgent action to reduce the rising tide of phishing and impersonation scams plaguing its trading platforms. The directive follows revelations that more than 600 fraudulent websites mimicking Swissquote's services were uncovered in the first half of 2025 alone. The Swiss Financial Market Supervisory Authority (FINMA), which oversees the country's banking and financial services sector, issued the order after identifying a significant uptick in fake login portals and phishing attempts, particularly targeting users of the Yuh app—a platform known for its accessibility to digital asset trading alongside traditional financial services. Phishing and impersonation schemes have long been a thorn in the side of fintech and crypto firms. However, the sophistication and frequency of these attacks have sharply increased in 2025, driven in part by artificial intelligence tools that enable scammers to generate more convincing fraudulent content at scale. Swissquote CEO Marc Buerki confirmed that while none of the company’s internal systems had been breached, the rise in external impersonation and spoof websites poses a serious threat to user trust and platform integrity. Yuh App in the Crosshairs The Yuh platform has become one of the most targeted crypto-enabled applications in Switzerland, according to FINMA. Launched as a joint venture between Swissquote and PostFinance, Yuh allows users to invest in both cryptocurrencies and stocks, making it a popular gateway for newcomers to the crypto space. Its growing user base and digital footprint have also made it an attractive target for cybercriminals, who replicate the app’s branding and user interface to lure unsuspecting users into handing over their login credentials. Bloomberg reports that many of the fake sites detected so far used social media promotions and spam emails to redirect users to phishing pages designed to look like official Swissquote and Yuh login portals. Swissquote is far from alone in facing this digital onslaught. According to cybersecurity firm CertiK, phishing, social engineering, and other scam vectors have accounted for approximately $2.1 billion in crypto losses so far in 2025. The majority of these losses stem not from technical flaws in blockchain code but from users being tricked into giving up sensitive information. Crypto losses in Q3 2025 by scam vector (Source: CertiK ) CertiK's Q3 2025 report reveals that address poisoning, fake support messages, and deepfake videos are also becoming increasingly popular with scammers. A particularly alarming case occurred in April, when a $330 million theft—one of the largest in crypto history—was carried out against an elderly investor through a targeted social engineering campaign. Even experienced professionals are not immune. In June, Mehdi Farooq, a venture partner at crypto investment firm Hypersphere, admitted that he had lost most of his life savings to a highly convincing phishing scam. Farooq’s public disclosure sparked widespread discussion in the crypto community about improving security awareness and incident response. FINMA’s Expectations In its notice to Swissquote, FINMA emphasized that financial institutions operating in the digital asset space must go beyond securing internal systems—they must actively monitor and respond to external impersonation threats that could harm users and damage trust in the financial system. The regulator expects Swissquote to enhance its threat detection capabilities, improve user awareness programs, and cooperate with cybersecurity firms and international watchdogs to take down malicious websites more quickly. Failure to comply could result in penalties or further regulatory scrutiny.
The fund tracks the top five cryptocurrencies, with Bitcoin dominating the portfolio. This milestone happened amid broader shifts in the regulatory landscape, especially as the SEC is reportedly exploring a more simplified listing process for crypto ETFs. This could potentially allow issuers to skip the lengthy 19b-4 application in favor of a faster S-1 filing. Analysts also raised the odds of approval for Solana, XRP, and Litecoin spot ETFs to 95%, with decisions expected by October. Bloomberg experts also expat a near-term green light for a basket-based crypto ETF and elevated approval chances for other altcoins like Dogecoin and Cardano.Overall, the SEC’s evolving stance could be the start of a new era of crypto investment access through traditional markets. Grayscale Gets ETF Nod Grayscale secured approval from the US Securities and Exchange Commission (SEC) to convert its Digital Large-Cap Fund into an exchange-traded fund (ETF). The fund is composed of the five largest cryptocurrencies by market capitalization according to the CoinDesk Five Index. Bitcoin (BTC) holds the dominant share at 80.2%, followed by Ethereum (ETH) at 11.3%. Solana (SOL) makes up 2.7%, XRP accounts for over 4.8%, and Cardano’s ADA holds a 0.81% weighting. A crypto ETF is a type of investment fund that tracks the price of one or more cryptocurrencies and trades on traditional stock exchanges, just like stocks. Instead of buying and holding the actual crypto, investors can gain exposure to its price movements through the ETF. Some ETFs hold the cryptocurrencies directly (spot ETFs), while others track futures contracts or indexes. Crypto ETFs make it easier and safer for traditional investors to access the crypto market without needing a crypto wallet or exchange account. Approval from the SEC Historically, Grayscale’s crypto trusts offered investors arbitrage opportunities by exploiting the premium or discount to the fund's net asset value (NAV), largely due to their lock-up periods and the absence of in-kind redemptions. However, as the firm continues to convert these trusts into ETFs, such profit windows have gradually closed. According to Grayscale, the goal of the newly approved ETF is for its share value to track the weighted prices of the underlying digital assets, minus any expenses and liabilities. Grayscale is known for pioneering crypto investment vehicles, and provided a gateway for traditional investors to gain digital asset exposure without directly holding cryptocurrencies. This conversion is a turning point for both the firm and the broader industry as it reflects a trend toward more regulatory maturity and mainstream acceptance. The company’s efforts to convert its Bitcoin trust into an ETF were initially blocked by the SEC, which started a legal battle that began in June of 2022. After more than a year, a federal judge sided with Grayscale in August of 2023 by declaring the SEC’s denial “arbitrary and capricious.” This victory allowed Grayscale to proceed with its ETF plans. Today, its Bitcoin ETF has the highest expense ratio on the market at 1.5%, but also ranks as the leading revenue-generating Bitcoin investment product. SEC Eyes Faster Crypto ETF Process The United States SEC is also reportedly considering a streamlined listing process for crypto ETFs. This could significantly reduce the time and complexity involved in bringing these products to market. According to crypto journalist Eleanor Terrett , the SEC may allow ETF issuers to bypass the traditional 19b-4 application—which is a form that currently must be submitted before listing a financial product on a public exchange. Instead, issuers would file a form S-1, which initiates the registration process. After a 75-day review period, if the SEC does not raise objections, the issuer could proceed to list the ETF without the usual back-and-forth negotiations with regulators. This potential change could be a huge step in modernizing the SEC's approach to crypto products and improving efficiency in the listing process. While the proposed structure could drastically reduce approval timelines and regulatory friction, details about eligibility criteria for the cryptocurrencies that might qualify are still unclear. The lack of specificity on which digital assets could be fast-tracked under the new system leaves room for speculation and continued lobbying from fund managers and industry participants eager to see a broader range of crypto ETFs approved. As it stands, the SEC has not confirmed these changes, and ETF issuers are still awaiting formal clarification. The conversation around ETF innovation took place at a time when the SEC already approved the first-ever staked crypto ETF in the US. The REX Shares Solana ETF (STAK) recently received the green light, and incorporates staking rewards into its investment model. This approval could pave the way for other altcoin and staking-enabled ETFs, especially as the SEC now faces a wave of pending applications involving Litecoin, Dogecoin, Solana, XRP, and Ethereum. According to Bloomberg ETF analyst James Seyffart , these proposals face final deadlines later in 2025, with some potentially reaching a decision as early as October. If the SEC moves forward with the simplified listing process, it could unlock a whole new era of crypto investment vehicles. Analysts Up Altcoin ETF Approval Odds Meanwhile, analysts raised the likelihood of SEC approval for Solana, XRP, and Litecoin spot ETFs to 95%. Bloomberg ETF experts Eric Balchunas and James Seyffart shared the updated forecast in a post on X , and pointed to the increasing momentum and regulatory developments that could lead to a wave of approvals in the second half of 2025. The same 95% probability was also assigned to the potential approval of a spot ETF tracking a basket or index of crypto assets, which could be granted as early as this week. While the final decision on the Solana, XRP, and Litecoin ETFs is expected by October, optimism continues to build across the altcoin ETF landscape. Other cryptocurrencies are also in the mix, with analysts assigning a 90% approval probability to spot ETFs for Dogecoin, Cardano, Polkadot, Hedera, and Avalanche. These decisions are slated for the fourth quarter.. More niche projects like Sui and Tron have lower chances of approval in the near term, with odds at 60% and 50%, respectively, for the ETFs filed by Canary Capital. These figures suggest that while the mainstream altcoins may soon achieve ETF status, lesser-known tokens face a more uncertain regulatory path. On the other hand the SEC’s hesitancy around staking is still very evident, especially after it delayed its decision on whether the Bitwise spot Ether ETF could include staking features. The regulator also postponed its decision on approving the Osprey Bitcoin Trust for trading. Despite this cautious approach, the wave of upcoming ETF approvals could be the start of a transformative period for altcoin exposure in traditional financial markets.
Famous economist and author of the book “Rich Dad Poor Dad” Robert Kiyosaki once again reiterated his confidence in Bitcoin (BTC). Announcing that he had purchased another BTC in a post on his social media account, Kiyosaki admitted that this investment may have been wrong, but stated that he stood by his long-term belief. “I bought another Bitcoin today. I could be wrong. But it wouldn’t be the first time. I still believe that Bitcoin will reach $1 million soon. If I’m wrong, I’m wrong; but if I’m right, I’m a winner, not a loser,” he said. While Kiyosaki predicted that the BTC price could reach $1 million in the future, he added that people should not act impulsively with the herd mentality. Related News: Ripple-backed Company's $100 Million XRP Announcement Causes a Stir Kiyosaki also touched on the difference between the investment approaches of the rich and the poor in his post. According to him, while the poor focus on prices, the rich look at the amount of assets they have: “I don't really care about the current price of gold or silver. What matters is how many ounces of gold or silver I have. Same goes for Bitcoin. I look at the price, but what I really focus on is how many Bitcoins I have.” Kiyosaki stated that he bought his first Bitcoin at $6,000 and wanted to buy more with all the “fake money” he had at the time. Reiterating his $1 million BTC target for 2030, the famous economist said, “Those who will be rich in the future will be those who have the most Bitcoin.” *This is not investment advice. Continue Reading: Renowned Economist Robert Kiyosaki Said, “I Bought Bitcoin Today,” and Added: “My Target for BTC is $1 Million, If I’m Wrong…”
The European Central Bank (ECB) Governing Council, on Tuesday, approved a two-track plan that will utilise central bank money for distributed ledger technology (DLT) transactions. The first short-term track approach, dubbed “Pontes”, will connect DLT platforms with Eurosystem TARGET services, to be launched by 2026. The track will ensure the free flow of cash, securities and collateral across Europe. Meanwhile, before the launch of the Pontes pilot in Q3 2026, the ECB will consider DLT-based trial and experiment requests. Piero Cipollone , Member of the Executive Board of the ECB, believes that although DLT and tokenization are relatively nascent, they “are likely to offer new ways of improving the settlement of financial transactions.” “The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures,” the release read. Long-Term ‘Global Level’ Approach The ECB has laid out its long-term track plan, “Appia,” which will facilitate operations at the global level. The bank noted that this approach will analyse more DLT-based solutions and collaborate with public and private stakeholders. “This will also include international operations, such as foreign exchange settlement, and engagement in international initiatives,” the ECB noted in a report outlining the results of the exploratory work. The ECB is yet to define the precise approach to be followed in the long-term, it added. However, the central bank will focus on “improving the efficiency and competitiveness of current financial markets for securities and payments, without compromising on safety.” ECB Aims to Finish Digital Euro Prep Phase by October Cipollone said last year that the bank is looking to finish the preparation phase of the digital euro by October 2025 . However, lawmakers are hesitant to trust the central bank, raising doubts about whether a digital euro could debut . The ambiguity came after an outage that occurred with the TARGET 2 (T2) payment system early this year. Big transactions are held in the T2 payment platform. The ECB is looking to finish its digital euro testing phase by October 2025. #ECB #DigitalEuro #CBDC https://t.co/7KtBkaP5QW — Cryptonews.com (@cryptonews) March 11, 2025 The bank already conducted exploratory work on new techs like DLT between May and November 2024. During the trial, 64 participants conducted over 50 experiments. Piero Cipollone added that Pontes and Appia approaches will be built on these technologies, given their recent developments and how they have sparked growing interest across the financial sector. The post ECB Approves Two-Track Plan to Use Central Bank Money for DLT Transactions appeared first on Cryptonews .
Most Asian stock markets experienced declines on Wednesday. This downturn was largely driven by investor apprehension surrounding the upcoming US trade, as U.S. President Donald Trump on Tuesday said he is not thinking about extending a current pause on reciprocal tariffs that is set to expire on July 9. Japanese equities were hit especially hard, shedding significant value after comments from President Donald Trump cast doubt on the possibility of a trade agreement with Tokyo. Gold hovered above $3,330 per ounce on Wednesday, holding an over 1% gain from the previous session. Japan ( NKY:IND ) fell 0.23% to around 39,500, while the broader Topix Index declined 0.6% to 2,814 on Wednesday, marking a second consecutive day of losses for Japanese equities. The Japanese yen weakened toward 144 per dollar on Wednesday, pulling back from over three-week highs. The selloff came after US President Donald Trump threatened to impose a 35% tariff on Japanese imports, aiming to pressure Tokyo into making trade concessions. Tokyo aims for a "win-win" trade deal with the U. S., according to Deputy Chief Cabinet Secretary Kazuhiko Aoki, despite President Trump's threats of high tariffs on Japanese goods. Trump has expressed frustration over Japan's low purchases of American rice and cars, warning that tariffs could increase to 30% or 35%. China ( SHCOMP ) fell 0.04% to around 3,450, while the Shenzhen Component dropped 0.5% to 10,420 on Wednesday, paring gains from the previous session. China's President Xi Jinping on Tuesday vowed to tighten oversight of aggressive price-cutting by domestic firms, amid growing concerns over persistent deflation. Market focus is now shifting to the upcoming Politburo meeting later this month. Hong Kong ( HSI ) rose 0.68% to 24,202 in early Wednesday trade, snapping a three-session losing streak as markets reopened after Tuesday’s holiday. India ( SENSEX ) fell 0.05% trading around 83,676 in early deals on Wednesday, after gains in the previous session, as traders remained cautious amid ongoing economic and geopolitical uncertainty. Market participants also continued to monitor trade negotiations between India and the US ahead of President Donald Trump’s July 9 deadline for tariffs, as well as developments in the Middle East. Australia ( AS51 ) rose 0.74% to around 8,554 on Wednesday, after pausing in the previous session, boosted by rallies in mining and real estate stocks. The Australian dollar weakened to around $0.656 on Wednesday, retreating gains from the previous session, as weaker-than-expected domestic data dampened investor sentiment. The Ai Group Industry Index for the Australia's manufacturing sector fell to -29.3, extending its downward trend. The Ai Group Australian Industry Index edged down by 1.8 points to -11.9 in June, indicating continued contraction. Australia’s retail sales grew by 0.2% month-on-month in May, after a flat reading in April but fell short of forecasts for a 0.4% rise. In addition, building permits rose by 3.2% month-over-month to 15,212 units in May 2025, less than anticipated, adding to concerns about a weakening economic outlook. Private house approvals in Australia climbed by 0.5% month-over-month to an eight-month high of 9,454 units in May 2025. On the downside, Australian pizza chain Domino’s dropped up to 19%, after announcing CEO Mark van Dyck’s departure. In the U.S., on Tuesday, all three major indexes ended mixed after the Senate passed President Trump’s sweeping budget bill, with investors also keeping an eye on trade developments. Looking ahead, investors are focused on ADP’s private payrolls report due Wednesday and the closely watched June jobs report on Thursday for further clues on the strength of the labor market and potential Fed policy moves. U.S. stock futures held steady on Wednesday, following a mixed performance in the previous session: Dow +0.23% ; S&P 500 +0.28% ; Nasdaq +0.37% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Australia's manufacturing contraction deepens in May; retail sales miss estimates China's factory activity returns to expansion at 50.4, new orders surge amid better trade Japan's manufacturing PMI revised downward to 50.1 in June; Nikkie index drops as Trump threatens new tariffs Australia's factory activity dips to 4-month low in June amid weakening production, new orders Japan's industrial production rise less than expected in May
Bitcoin is getting useful again as Bitget Wallet launches a crypto-backed Mastercard in the UK and EU. The new card lets users spend digital assets like BTC at over 150 million merchants globally, directly from their wallets. Real-time crypto-to-fiat conversion with no fees makes it easier than ever to use Bitcoin for daily purchases. JUST IN: Bitget partners with Mastercard to launch a #Bitcoin and crypto card. Mastercard can be used at 150 million merchants pic.twitter.com/NORus65onr — Bitcoin Magazine (@BitcoinMagazine) July 1, 2025 Backed by Immersve’s infrastructure and compliant with Mastercard’s standards, this bypasses traditional banking hurdles and is aimed at Gen Z users, especially in underserved regions. The US isn’t included yet due to regulatory constraints, but the rollout may expand. This is redefining Bitcoin from an asset to a currency. Key features: On-chain funding Real-time conversion 0.1% FX fee for EU investors Staking for ETH and SOL Deutsche Bank and UK Firms Add BTC to Holdings Deutsche Bank is going deeper into the digital asset space. With Taurus and Bitpanda, the bank plans to launch a full crypto custody service by 2026. The project also includes tokenized payments and a stablecoin. NOW: Deutsche Bank to launch its #crypto custody service in 2026. Marking a major leap into digital assets by one of Europe’s biggest banks. pic.twitter.com/mQMkV0uNnl — The Crypto Times (@CryptoTimes_io) July 1, 2025 UK-based The Smarter Web Company added 230 BTC to its treasury, now holding 773 BTC worth $82.6 million. The company recently raised $62 million and has set aside over $52 million for more BTC buys. Its goal is to build a 10-year Bitcoin reserve strategy. UK’s Smarter Web Company adds $24.7M in Bitcoin, now holds 773 BTC https://t.co/Ib7yllpYv4 — Metatron Apps-OTC $MRNJ (@MetatronInc) July 1, 2025 Together, these institutional moves show growing confidence in Bitcoin’s long-term role in the financial system, providing structural demand beyond the speculative cycles. Technical Analysis: Bitcoin Eyes Breakout Above $107.8K Bitcoin is at $106,351, recovering from the 61.8% Fibonacci retracement level at $103,270. The rising trendline from the June 23 low near $99,775 is intact and price is testing the 50-EMA at $106,898. Bitcoin Price Chart – Source: Tradingview MACD is flattening and showing early signs of a bullish crossover. A close above $106,786 could be a move to $107,832 and $108,979. If $105,431 fails as support, watch for a deeper pullback to $104,338 or $103,271. Bitcoin Trade Idea: Support: $105,431, $104,338, $103,271 Resistance: $106,786, $107,832, $108,979 Bias: Bullish above $104,300 Institutional demand, increasing retail use, and better charts for now. BTC Bull Token Nears $8.8M Hard Cap as Presale Enters Final Hours With Bitcoin trading near $105,000, investor focus is shifting toward BTC Bull Token ($BTCBULL) , a rising altcoin that is nearly fully allocated during its presale. As of today, the project has raised $7,844,655 of its $8,873,431 target, leaving under $1 million to be raised before the token price moves to the next tier. Currently priced at $0.002585, early buyers have a limited time to enter before the subsequent price increase takes effect. Bitcoin-Linked Tokenomics and Burn Mechanism BTCBULL ties its value directly to Bitcoin’s price through two smart systems: BTC Airdrops: Distributed to holders, with priority for presale participants. Supply Burns: Triggered automatically when BTC rises in $50,000 increments. APY: 55% annually Lockups: None Liquidity: Immediate Total Pool: 1,925,149,417 BTCBULL This staking model appeals to both DeFi veterans and newcomers seeking hands-off income. With just hours left and the hard cap nearly reached, momentum is building fast. BTCBULL ’s blend of Bitcoin-linked value, scarcity mechanics, and flexible staking is fueling strong demand. Early buyers have a limited time to enter before the next pricing tier activates. The post Bitcoin Price Prediction: $107K Holds as Mastercard, Deutsche Bank, and UK Firms Drive Demand appeared first on Cryptonews .