The cryptocurrency market crashed just in time for Crypto Week 2025 to begin, with Bitcoin retracing nearly 5% from its all-time high of $123,000, a total of $681 million in liquidations, mostly from long positions. A Satoshi-era Bitcoin whale moved 18,643 BTC, valued at $2 billion, to Galaxy Digital, presumably for profit-taking, with portions deposited to exchanges like Bybit and Binance, while the whale still holds 80,009 BTC worth $9.46 billion. Altcoins, namely Ethereum, Solana, XRP, and Dogecoin, saw losses ranging from 3% to 8%, with ETH and XRP falling below key resistance levels of $3,000 and $3.0, respectively, as investors await US CPI and PPI data for June that could sway the market further. Bitcoin’s price corrected to a low of $116,290 after peaking at $123,236, dragged by whale activity and profit-taking, evidenced by a spike in the "Coin Days Destroyed" metric and large transactions on Binance exceeding 35% of inflows. Market sentiment remains in focus, with the Fear and Greed Index at 70, reflecting "greed", though unresolved tariff issues could shift this outlook and affect Bitcoin’s trajectory.
EQUITY
Wall Street opened the week higher, shrugging off President Trump’s renewed tariff threats on copper and Asian countries. It tries to stay optimistic ahead of inflation data and second-quarter earnings reports. Considering sectoral volatility and geopolitical risks, steady gains across major indexes suggest growing confidence in sustained growth, supported by eventual Fed rate cuts and the offsetting effects of recent economic legislation.
GOLD
Gold snaps its three-day rally as the U.S. dollar continues gaining ground with easing overvaluation concerns and fading recession risks, according to Capital Economics. However, gold recovered slightly in Asian trading ahead of the critical U.S. CPI report, which most expect will shape Federal Reserve decisions. Geopolitical tensions had also factored in, with President Trump’s ambiguous tariff strategem accelerating trade settlements by gold instead of dollars.
OIL
Oil prices pulled back in its path to recovery since President Trump’s 50-day ultimatum to Russia alleviated immediate concerns over sanctions, pushing Brent below $70 and WTI to $66.8 per barrel. Although the temporary reprieve has softened market volatility, analysts caution that enforceable sanctions could still destabilise oil flows, given Russia’s export volume of over 7 million barrels per day.
CURRENCY
The dollar was trading near a three-week high ahead of U.S. price inflation data that will shape the Fed’s next rate decision. Treasury yields rose and speculation grew over Powell’s possible exit given extra pressure from Trump to slash rates. A hotter-than-expected CPI could keep the Fed on hold and support the dollar, while a weaker print may give divided members a stronger lean into a cut.
