Morning Briefing for Asia: Market Highlights
Welcome to the Asia Morning Briefing, your daily roundup of significant developments during U.S. trading hours, along with insights into market movements and analyses. For an in-depth look at U.S. market activity, refer to CoinDesk’s Crypto Daybook Americas.
Institutional Demand for Bitcoin: A Broader Perspective
Jeff Dyment, a fund manager at Saphira Group, encourages investors to broaden their perspective and not to be overly concerned with short-term market fluctuations. He contends that indications suggesting a decline in institutional interest in Bitcoin overlook critical trends. In a communication shared with CoinDesk, Dyment asserts that worries about diminishing institutional demand are exaggerated and stem from limited views of market activity. While it’s true that purchases by ETFs and corporations have slowed recently—highlighted by the fact that Michael Saylor’s Strategy acquired only 16,000 BTC last month compared to December’s 171,000 BTC—Dyment believes this trend is part of a natural cycle in the adoption process.
The Cyclical Nature of Institutional Investment
Dyment explains that institutional investments often occur in waves rather than a consistent, linear growth pattern. He notes that short-term fluctuations in the spot market are minor disturbances in an overarching trend of increasing institutional engagement. Citing data from 2025, he reveals that there were 51 new corporate BTC treasuries established, matching the total number formed from 2018 to 2022 combined, along with a remarkable 375% year-over-year surge in corporate BTC acquisitions. Publicly traded companies now collectively hold 848,902 BTC, representing around 4% of the total supply, with Q2 2025 alone adding 131,000 BTC to their assets.
Bitcoin ETFs: Evidence of Growing Institutional Interest
Dyment also points to the remarkable rise of Bitcoin ETFs as further proof of increasing institutional involvement. The BlackRock IBIT fund, the largest ETF globally, currently manages 699,000 BTC, which accounts for over 3.3% of the total supply, making it the fastest-growing ETF on record. Additionally, U.S. spot ETFs have amassed approximately 1.25 million BTC, roughly 6% of the overall supply, in a mere 18 months since their inception.
Options Market Reflects Positive Sentiment
Dyment’s perspective resonates within the options market as well. According to a recent note by QCP Capital, the Singapore-based fund observed that large investors, or “whales,” are actively increasing their exposure to potential price surges by purchasing September $130K BTC call options and establishing $115K/$140K call spreads. Despite volatility levels remaining near historical lows, QCP noted that a significant breach of the $110K resistance level could trigger renewed interest in volatility trading.
Underlying Trends Amidst Market Surface Waves
While some analysts may interpret stagnant spot flows and a lack of activity in the mempool as signs of market fatigue, Dyment posits that these are merely superficial fluctuations. Beneath the surface, he argues, there is a rising tide of interest, with Wall Street poised to engage with crypto markets, albeit in a gradual manner.
BTQ Introduces Quantum-Safe Protocol for Stablecoins
BTQ Technologies has launched the Quantum Stablecoin Settlement Network (QSSN), a groundbreaking framework aimed at enabling banks, payment processors, and digital asset platforms to fortify their stablecoin operations against potential quantum computing threats. In an official announcement, BTQ outlined how this system could facilitate quantum-secure versions of existing stablecoin models, such as JPMorgan’s proposed USD deposit token, by enhancing critical functions like minting and burning through dual cryptographic signatures (ECDSA and Falcon-512), while ensuring compatibility with current token standards and workflows.
Regulatory Developments in the Stablecoin Market
This initiative comes as the stablecoin market surpasses $225 billion, amidst increasing calls for regulatory measures focusing on cybersecurity. The GENIUS Act, currently making its way through the U.S. Congress, aims to establish federal standards for fiat-backed stablecoins and promote quantum-safe architectural frameworks. BTQ, which has partnered with NIST for over ten years, seeks to influence these standards and position QSSN as essential infrastructure.
Market Updates and Movements
BTC: Bitcoin experienced a 1.02% decline from July 6 at 22:00 to July 7 at 21:00, testing crucial support levels around $107,519.64 amid significant selling pressure, before rebounding off $107,800 as on-chain data indicated robust support clusters at $106,738 and $98,566 held by 1.68 million addresses, as per CoinDesk Research’s technical analysis tool. ETH: Ethereum rose by 1.67% during volatile trading, fluctuating nearly 3% between $2,529 and $2,604, with support at $2,530 proving resilient, as institutional inflows exceeded $1.1 billion, and above-average volumes characterized both the price surge and subsequent pullback. Gold: The price of gold fell due to a stronger dollar but later rebounded thanks to tariff-induced safe-haven demand, with central bank purchases and de-dollarization trends driving predictions of a rise toward $4,000. S&P 500: The stock market dipped on Monday as Trump announced new tariffs on imports from several countries, causing the S&P 500 to drop 0.79% to 6,229.98. Nikkei 225: In contrast, Asia-Pacific markets largely advanced despite Trump’s announcement of significant U.S. tariffs on 14 trading partners, with Japan’s Nikkei 225 seeing a 0.36% increase amid proposed duties of up to 40% on nations including South Korea, Indonesia, and Thailand.
