Week of June 17 - 23, 2025
Eric Balchunas, a senior ETF analyst at Bloomberg, states that the U.S. Securities and Exchange Commission (SEC) is expected to approve cryptocurrency-linked ETFs this July. Notably, the Solana ETF—along with its staking reward feature—is believed to have up to a 90% chance of approval, with a decision set for July 2.
Paul Atkins, Chairman of the U.S. SEC, has voiced support for self-custody of digital assets and decentralized finance (DeFi), criticizing the previous SEC administration for relying too heavily on litigation in crypto cases.
The conflict between Israel and Iran led to the first net outflow from Spot Ethereum ETFs on Friday, June 13, after 19 consecutive days of inflows. Despite this, the total net asset value (NAV) of these funds hit a new all-time high, now exceeding USD 10 billion. Meanwhile, Spot Bitcoin ETFs continue to attract positive net inflows.
Spot Bitcoin ETFs are on track to set a new record, with total trading volume approaching USD 1 trillion in less than 18 months since their launch in January 2024. The IBIT fund is now the fastest-growing ETF in history, reaching USD 70 billion in just 341 days—far quicker than the previous record-holder, SPDR Gold Shares (GLD), which took 1,691 days.
Bitwise projects that Bitcoin could surpass USD 200,000 by year-end, with a fair value estimate of USD 230,000. This forecast is driven by the rapid rise in U.S. federal debt, with net interest payments expected to reach USD 3 trillion by 2030, making Bitcoin increasingly attractive as a hedge against sovereign debt risk.
Walmart and Amazon have disclosed that they are exploring the launch of their own stablecoins for internal business use, anticipating the potential enactment of the Genius Act. These coins would serve as alternative payment systems, reducing reliance on credit cards and traditional banking.
Vietnam’s National Assembly has approved its first-ever Digital Technology Industry Law, marking a major step toward crypto recognition. The Vietnamese government will now proceed with drafting detailed regulations regarding business operations, asset classification, and a comprehensive regulatory framework.
Bitcoin (BTC) saw a sharp decline following news of the conflict between Iran and Israel, but the fact that it did not form a new low suggests the trend still has upward potential. The first support level is at USD 102,000, with key support at USD 100,000. The target is to retest the USD 120,000 level.
Ethereum (ETH) tested the resistance at USD 2,800 but has yet to break through. A pullback that holds above USD 2,200 presents a buying opportunity, with potential for an upward reversal to retest USD 2,800. If ETH breaks through this level, the medium-term target is USD 4,000.
Kaia (KAIA) delivered a 16.06% return over the past week, driven by speculative buying ahead of South Korea’s stablecoin legislation. Look for buying opportunities if the price pulls back but holds above USD 0.1454. The previous resistance at USD 0.1814 is a short-term take-profit level.
Maker (MKR) posted a 15.41% return over the past week, with the short-term trend turning bullish. Look for buying opportunities on a pullback to the first support at USD 2,000, and consider taking profit at the resistance level of USD 2,400.
Non-Farm Payroll data came in slightly below expectations, which may not yet prompt the Federal Open Market Committee (FOMC) to cut interest rates at its June 18 meeting. However, it still sends a positive signal that could support the cryptocurrency market.
The Iran–Israel conflict triggered a dip in Bitcoin and the broader crypto market, but this is widely seen as a short-term disruption. Positive factors include newly passed stablecoin legislation and increasingly clear pro-crypto signals from the U.S. government.
Speculation is building around the approval of altcoin ETFs in July. Combined with Ethereum’s rebound against Bitcoin, this suggests that altcoins are beginning to outpace the broader market and may be primed for above-average returns in the weeks ahead.
Investment strategy: With these dynamics in play, the strategy remains to accumulate Bitcoin at support levels, while also looking to Ethereum and select altcoins that stand to benefit from favorable U.S. policy—particularly Layer 1 blockchains, DeFi projects, and payment-focused tokens. U.S.-based projects may also see renewed speculative inflows. As always, prioritize risk management and look for entry opportunities during market pullbacks.
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Remark: The views, information, knowledge, and opinions expressed herein are those of the individuals involved and do not represent the views of Bitazza or its employees. Neither this email nor the content presented constitutes investment advice.
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