BTC Stalls Near $109K as Market Waits for a Catalyst

Good morning, Asia. Here’s what makes news on markets:

Welcome to Morning Briefing, a daily summary of the best stories during the American hours and an overview of market movement and analysis. For a detailed overview of the US markets, see CRYPTO Daybook Americas.

As Asia begins its Wednesday business day, Bitcoin

He continues the shop without dominant market subtitles.

The largest digital asset in the world is traded over $ 108,900, According to Coindesk market dataand Coindesk 20 The index, the performance of the largest digital assets is above 3,100, which is 1.7%.

Right now, what separates Drift Bitcoins to $ 110,000 from the rally is the market belief, say observers.

In a recent message, Glassnode highlighted These point volumes for BTC continue to persist under their usual statistical bands, the ETF flows have disappeared sharply from the recent maximum and institutional investors seem to hesitate despite unrealized profits listed (MVRV) circumstances

In the market update from the beginning of this week, Wintermute describes this careful environment As the “dumbbell market”, they point to a significant division between renewed enthusiasm in high beta assets, such as memory and stability of established tokens with large capital.

Last year’s narrative Darlings, especially tokens AI and Depin, have lost the attention of the investor, suggesting that traders rotate into memecines, many large companies such as Doge, Shib and PEP, have been more than 8%in the last week, or stay in BTC and ETH, which are considered combat and secure.

Given that global shares have largely bent geopolitical uncertainty, the hesitation of BTC underlines the persistent caution among traders, suggesting that the market awaits clearer signals than it definitely breaks. Things are likely to stay down until it changes.

Recapitulation of news: $ 100 million Fund Backs builder, not Bettors, on bitcoins

VC EGO Death Capital only from Bitcoins has closed a $ 100 million fund aimed at supporting projects that consider bitcoins as an infrastructure, not as speculative trade, Coindesk previously reported.

The Fund will focus on series and bikes between $ 3 million and $ 8 million on startups that will solve problems with the real world using the basic layer of bitcoins or its scaling solutions.

“We are investing in businesses that consider bitcoins not trade, but as an infrastructure – something they are building on, not to bet,” said Lyn Alden’s general partner. The existing EGO portfolio includes relai, the application for self -learning and roxom, the stock exchange based directly on Bitcoin’s tracks.

At a time when Multichain VC is chasing the yield on every new L2 and L3, the ego is a diploma thesis by betting on simplicity and durability: the dominance of bitcoins remains above 60%, and the aim of the fund is to earn its residential power. Message to allocators: ignore the hype, back rails that last.

Report Recapitulation: Judge Bars Sanction Talk in Tornado Cash Trial, limits the defense of freedom of expression

The federal judge ruled that the sanctions of the US government against the cash tornado, which were deposited in 2022 and later inverted, cannot be discussed in the upcoming criminal proceedings by the developer Roman Storm, Coindesk previously reported.

Judge Katherine Polk Failla said that the permission of the jury to hear about the now non -invalid sanctions would require “mental gymnastics” and risked that the basic legal issues need to be confused in court proceedings. Sanctions were originally deposited by the Office of the Ministry of Foreign US ASPPITION (Ofac) Despite the alleged use of the blender by the Group of Lazarus North Korea, but at the beginning of this year they were hit in a separate case at the beginning of this year, Van loon v. Treasury.

Storm faces several criminal fees related to its role in building Tornado Cash, a personal data protection tool that allows users to cover the origin of crypto transactions. The prosecutors claim that the project has significantly benefited and quoted evidence of the sale of tokens and real estate purchases with a torn worth several million dollars.

Judge Fail also ruled that evidence obtained from developer Cash Tornado Alexey Pertsev can be accepted by court, despite objections from the Storm legal team, who claimed that the material was selected and independently verifiable.

Although Storm can freely speak of his faith in privacy and civil liberties, the judge said he would not be allowed to compensate his actions as protected according to the first amendment.

The court distinguished between personal beliefs and legal defense. The final preliminary meeting is scheduled for Friday, and the trial version will be launched on June 14th and is expected to last four weeks. The result of the case is probably determined by an important precedent for how US courts treat personal data protection tools with an open source source.

Market movements:

BTC: Bitcoins maintained the resistance of the institutional degree during the trade cycle 7.-8. July, which adhered to a key level of $ 108,000 when navigation in severe resistance to $ 109,200 and finding strategic support near $ 107,470, signaling the trust of corporate treasures, despite the late relational profit, according to the market persecution of Coindes.

ETH: Ethereum rose by 3% to $ 2,610 during a session of 7 – 8 July because institutional investors deployed $ 515 million on a coordinated weekend, leading volumes to almost trip

Gold: On Tuesday, gold dropped by 1.2% below $ 300 as optimism compared to delayed mutual tariffs and hope for new trade agreements weakened the demand safe, while the markets were waiting for FOMC minutes for other instructions.

Nikkei 225: Asian markets traded on Wednesday mixed when Japanese Nikkei 225 became 8.39 points (0.021%) After US President Trump excluded the postponement of tariffs 1.

S&P 500: The S&P 500 almost did not change on Tuesday after President Donald Trump confirmed that they would not be in the introduction of tariffs 1. August no exceptions.

Elsewhere in the crypto

• Eigen Labs is released by 25% of employees, focusing on EigenCloud (BlockWorks)
• Sharpink Gaming jumps 26% as Ether Treasury Tops 200k ETH (Coindesk)
• Japanese growing 30 -year -old yield is a flashing warning feature for risk assets: macro markets (Coindesk)