Good morning, Asia. Here’s what makes news in the markets:
Welcome to the Asia Morning Briefing, a sunny summary of the leading stories of US time and a general measures of movements and market reviews. For a detailed overall -analysis of US markets, see The Americans.
As Asia opens the week of trading,
is changing hands around $ 105,000, stuck in this range due to the market uncertainty about whether the Israeli-Iran conflict rises to a wider regional war, according to a recent note from the QCP trading firm.
The QCP wrote on a note on Friday published on Telegram that the dangers reversed “flipped specific,” which the front-end BTC places up to premiums up to 5 points of volatility in the corresponding calls, a clear indicator of increased investor anxiety and increased hedging against downside risks.
The firm said that despite this defense of the positioning, the BTC has shown noticeable stability. Even in the midst of recent volatility, which has seen more than $ 1 billion in long-term liquid position in major crypto assets, on-chain data shows that institutional purchase continues to provide significant support.
The QCP emphasizes that markets remain “stuck in a bind,” awaiting clarity on geopolitical outcomes, and warns that the digital asset complex will likely remain strictly linked to headlines driven by sentiment for the predictable future.
To all in mind, however, Glassnode data provides some certainty to investors worried about longer directions.
Although recent volatility emphasizes short-term anxiety, Bitcoin’s current rotation that earns 656%, while lower than in previous bull markets, has been noticeably given significantly larger market capitalization today.
Previous cycles have returned 1076% (2015–2018) and 1007% (2018–2022), suggesting that investor’s demand is still close to BTC maturity, even though the near -term macro jitters are dominant in market sentiment.
Galaxy Research said the OP_RETURN debate does not matter
OP_RETURN’S DEBATE is less important than what a “strong but small group of critics” would like to think about, Alex Thorn wrote Galaxy Research on a recent note.
Thorn described critics ‘reactions as “wild accusations of’ Bitcoin ‘death'” and argued that the said hyperbole had been misplaced in the history of low mempool’s low congestion.
On-chain data displays That Mempool was almost empty compared to a year ago, and the notion that a congested blockchain suffered the BTC, as the existing narrative in 2023, now appears to be significantly overstated.
On the note, Thorn further highlights the paradox of the unjust data as “spam,” reminding the observers who are the creator of Bitcoin, Satoshi Nakamoto, who is famously with the unjust text, the “Chancellor on Brink of Second Bailout” headline, on the first Bitcoin’s Blockchain headline.
Instead, Thorn argues, the Bitcoin community’s attention is better focused on potential upgrades such as CheckteMPlateverify (CTV), a suggested opcode that activates strict spending conditions (“Covenants”).
“We continue to believe (CTV) is a conservative but strong opcode that greatly enhances the ability to develop better, safer caution techniques,” he wrote, noting that around 20% of the hashrate of Bitcoin has signed support for upgrading.
Bitcoin upgrades require extensive consensus, which reflects its open-source ethos, and Thorn emphasizes that careful, deliberate evolution remains critical for greater adoption and scalability.
Bybit launched byreal, a Solana-fate decentralized exchange
Bybit enters the decentralized exchange space along with Byreal, an on-chain trading platform built in Solana, Ben Zhou, Bybit’s CEO announced by X over the weekend.
Byreal announcement – our first Onchain Dex consumed bybit, will live by the end of the month. Starting from the beginning and now born in Solana. What is special: 1/ Cex + Dex Synergy Byreal is not “another Dex.” It combines CEX-grade’s liquidity with defi-native transparency.… https://t.co/ju60e4zhq4
– Ben Zhou (@benbybit) June 15, 2025
Byreal’s Testnet is set to launch on June 30, with the Mainnet Rollout expected later this year. Zhou said Byreal was designed to combine centralized exchange features such as high liquidity and rapid implementation with DeFI’s transparency and composability. The platform also includes a fair launchpad system and curated yields of vaults linked to Solana-roofing assets such as BBSOL.
Market Movements:
- BTC: Bitcoin was held near $ 105,000 after more than $ 1 billion in leveraged positions was liquid, led by a $ 200 million long in Binance, while rising Israeli-Iran’s tensions triggered a sharp sale, a flight from altcoins, and a short but intense collapse of volatility.
- Eth: The Ethereum rose 2% to $ 2,550 after finding strong support to $ 2,510, showing stability amid Israeli-Iran tensions and greater volatility in the market, with an ongoing institutional flow that supported the utrend.
- NIKKEI 225: Asia-Pacific markets rose on Monday, led by Japan 225’s Nikkei 225 gaining 0.87 percent, while investors weighed increased Iran-Iran tension, as oil and gold prices advanced to safe refinement of shelter.
- Gold: The gold rose to $ 3,447 in the early Asian trading Monday, hitting a one -month height of tensions in the Middle East and rising expectations of a September rate cutting the more powerful data of the US consumer sentiment.
