Bitcoin’s Price is Stuck and We’re All Confused 🤔

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So, here’s the deal. Institutional demand for Bitcoin isn’t exactly setting the world on fire, and it’s definitely not making up for the lack of spot demand. Like, what’s going on? 🤷‍♀️

  • Institutional demand is slowing down, and it’s not even close to what it was last year.
  • Standard Chartered is still all in on Bitcoin, though, with a $200K price target.
  • But, like, what’s the point if nobody’s buying? 🤑

As we kick off the trading week in Asia, Bitcoin is hanging out at $109K, up 0.8% in the last week or 4.5% in the last month, according to CoinDesk market data. Not exactly a thrilling start to the week.

So, Michael Saylor’s Strategy (MSTR) is still buying up all the Bitcoin, and ETF inflows are still a thing, but it’s just not translating to a price surge. Like, what’s the holdup? 🚗

CryptoQuant has some thoughts: “The annual growth of bitcoin demand shows a similar picture: ETFs and MSTR purchases are a portion of bitcoin demand, overall demand contraction is more than offsetting these purchases, and the acceleration of overall demand growth is what drives price rallies.”

Yeah, that’s a mouthful. But basically, it means that institutional demand isn’t making up for the lack of spot demand, and that’s a problem. 🤦‍♀️

Oh, and it gets worse. Over the last 30 days, there’s been a contraction in demand for BTC to the tune of -895K. Yikes. 😬

And if that’s not enough, ETF and MSTR buys are slowing down compared to December. Like, what’s going on, guys? 🤷‍♀️

One more thing: BTC’s mempool is basically empty, which means there’s hardly any retail spot demand. Not great. 😐

So, the question is: if institutional buys keep slowing down, how much will it hurt Bitcoin’s price? 🤔

SkyBridge Capital’s Anthony Scaramucci thinks the BTC treasury trend is gonna fade, btw. Just FYI. 🤑

But hey, Standard Chartered is still all in on Bitcoin, so maybe we shouldn’t worry too much? 🤷‍♀️

Market Movements:

  • BTC: Bitcoin’s just chillin’ above $108,500, but it did surge a bit in the last hour, so that’s something. 🤑
  • ETH: Ethereum‘s doing its thing, rallying from $2,520.45 to $2,558.63 on July 6. Not bad. 👍
  • Gold: Gold’s on the rise, up 1.91% to $3,336.61 last week. Nice. 💃
  • Nikkei 225: Japan’s benchmark Nikkei 225 slipped 0.26% after the White House continued with its mixed messages on tariffs. Okay. 🙃

Elsewhere in Crypto:

  • US Recession Odds on Polymarket Plunge to 22% as Trade Tensions Cool (CoinDesk)
  • Ethereum is powering Wall Street’s future. The crypto scene at Cannes shows how far it’s come (CNBC)
  • Sweden Orders Police to Increase Seizures of Criminal Crypto Profits (Decrypt)

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2025-07-07 05:34