Executive brief

Digital assets found renewed momentum over the holiday weekend as Bitcoin jumped above $63,000, reversing losses from late June. The rally was largely driven by weak US jobs data, with only 57,000 payrolls added against expectations of 110,000. This miss reduced pressure for a Federal Reserve interest rate hike, creating a more buoyant environment for risk assets despite the thin liquidity associated with the July 4 holiday. While Wall Street remains offline, the market’s independence has been on display, though traders remain cautious of an options trap near the $66,000 level.

Institutional narratives are shifting as major players adjust their capital allocations. Strategy authorised up to $1.25b in Bitcoin sales to build a liquidity cushion, marking its first significant disposal since 2022. Simultaneously, miners like Riot Platforms are moving treasuries, with a reported 500 BTC transfer suggesting a pivot toward funding AI and data centre infrastructure. In the stablecoin sector, competition is intensifying with Robinhood offering a 7% yield on USDG, even as new entrants like Open USD face scrutiny over the formal commitment of their listed corporate partners.

A key driver for the coming week will be the market’s ability to absorb these corporate sell-offs against a backdrop of receding rate-hike risks. A significant opportunity lies in the demographic shift of $124t in wealth moving to younger, crypto-friendly generations, which could provide long-term structural support. However, immediate risk remains in the technical ceiling at $68,000, where large options positions may cap further gains if holiday liquidity remains low.

1) Top 20 news headlines

2) BTC and ETH ETF flows

Metric BTC ETH
Net inflow $221,719,273.5 $29,082,177.16
Value traded $2,130,152,174.6 $669,622,368.7
Net assets $74,369,324,122.56 $9,019,904,969.87
Cumulative net inflow $51,079,177,102.6 $10,889,038,108.34

3) X trending news

  • Retail risk appetite at records; 0DTE options now account for a record 48% of total retail options volume.
  • US job market revisions; employment data has been revised downward in 14 of the last 17 months by a total of 710,000 jobs.
  • Metaplanet adds to Bitcoin holdings; the firm purchased 2,823 BTC worth $170m, bringing its total to 43,000 BTC.
  • AI CapEx to rival defense spending; spending by five major tech firms is projected to hit $1.1t by 2027, or 3.2% of US GDP.
  • Trump stock trade highlighted; the president purchased up to $530,000 of Micron stock in March 2026.
  • Central banks buying gold; global institutions purchased 41 tonnes of gold in May, with Poland leading at 18 tonnes.
  • Michael Saylor bullish on BTC; the Strategy founder hinted at more purchases, describing Bitcoin as digital energy.
  • Hong Kong chip trade records; semiconductor exports from China to Hong Kong reached a record $15b in May.