Week of June 24 - 30, 2025

The U.S. Senate has voted 68–30 in favor of the amended GENIUS Act, marking the first time the United States has established legislation to regulate the issuance of stablecoins. The bill now moves to the House of Representatives, where further amendments may be proposed before a final vote. If passed, the bill will be sent to President Donald Trump for signature.

JPMorgan has launched a deposit token called JPMD, which is issued on Base—Coinbase’s Layer 2 blockchain and currently the largest Layer 2 by market share. Unlike typical stablecoins, JPMD allows institutional clients to transact directly, provided the project proves successful.

Spot Ethereum ETFs saw their highest net outflows since mid-May, largely driven by concerns over Middle East tensions. However, June still closed with net inflows totaling USD 840 million. Meanwhile, Spot Bitcoin ETFs logged their fifth consecutive day of record cumulative inflows last Friday.

Glassnode reported that, on June 21, Ethereum whales—wallets holding more than 10,000 ETH—collectively bought over 116,893 ETH (worth more than USD 265 million), both before and after Israel’s attack on Iran.

A Bloomberg ETF analyst expressed high confidence—up to a 90% probability—that the U.S. SEC will approve Spot ETFs for Ripple (XRP), Dogecoin (DOGE), and Cardano (ADA) this year, alongside Litecoin (LTC), Solana (SOL), Polkadot (DOT), and Avalanche (AVAX).

A report from TheMinerMag revealed that the average cost of mining Bitcoin in Q2 2025 has surged past USD 70,000, driven by rising electricity costs and a continued increase in network hashrate since late 2024. The production cost was around USD 52,000 previously, rising to USD 64,000 in Q1 2025.

In Southeast Asia, Malaysia has launched a Digital Asset Hub initiative. This sandbox project enables real-world testing of use cases such as programmable payments, ringgit-pegged stablecoins, and supply chain financial systems—all under close regulatory supervision.

Technical Analysis

Bitcoin (BTC)

Bitcoin (BTC) broke below the key USD 100,000 support level, testing USD 97,000, before renewed buying pressure pushed the price back above six figures. While short-term momentum has weakened, holding above USD 97,000 this week could set the stage for a rebound, with first resistance at USD 105,000.

• Support: 3,200,000 THB / 97,000 USD
• Resistance: 3,500,000 THB / 105,000 USD
  

Ethereum (ETH)

Ethereum (ETH) dropped sharply, testing critical support at USD 2,100 before a wave of buying interest emerged. Watch this support level closely—if it holds, it may present a buying opportunity. If not, ETH could slide further toward USD 1,900.

• Support: 70,000 THB / 2,100 USD
• Resistance: 82,000 THB / 2,500 USD

Kaia (KAIA)

Kaia (KAIA) delivered a 9.31% return over the past week, buoyed by continued momentum in the stablecoin narrative. The trend remains stronger than the overall market, favoring a buy-on-dip approach. Key support is at USD 0.1660, with a short-term target at USD 0.2025.

• Support: 5.40 THB / 0.1660 USD
• Resistance: 7.00 THB / 0.2025 USD
  
  

Fuse (FUSE)

Fuse (FUSE) posted a -2.77% return over the past week, with the price hitting a low of USD 0.0095. If this support holds, it could present a buying opportunity, targeting resistance at USD 0.015. If support fails, it’s advisable to cut losses early.

• Support: 0.32 THB / 0.0095 USD
• Resistance: 0.365 THB / 0.015 USD

Investment Trends

The Federal Open Market Committee (FOMC) meeting concluded with rates held steady at 4.5%, as expected. The committee reaffirmed plans for two more 0.25% rate cuts in 2025. Bitcoin (BTC) saw little price movement, while the GENIUS Act’s Senate passage largely aligned with market expectations, resulting in minimal impact.

The conflict between Israel and Iran weighed on the crypto market over the holiday, but prices rebounded quickly. Oil and gold prices did not spike as much as anticipated, signaling that markets do not expect the conflict to escalate further—thus limiting its impact on crypto.

Bitcoin has reclaimed a key support level, and many altcoins have dropped to attractive entry points, presenting potential opportunities for long-term investors. Assets poised to benefit from the GENIUS Act—such as Ethereum, Layer 1 blockchains, and DeFi projects—are especially worth watching.

Key events to monitor this week include Fed Chair Jerome Powell’s speeches on Tuesday and Wednesday (June 24–25), and the release of U.S. Q1 GDP data on Thursday, June 26, which is expected to show a -0.2% contraction.

References

• https://cointelegraph.com/news/us-senate-passes-genius-act-stablecoins
• https://cointelegraph.com/news/jpmorgan-deposit-token-jpmd-pilot-base-coinbase
• https://www.theblock.co/post/359084/spot-ethereum-etfs-log-largest-outflows-in-one-month-as-eth-price-tumbles-below-2400
• https://cointelegraph.com/news/ethereum-whale-stacks-39m-eth-despite-ether-falling-harder-than-bitcoin   
• https://www.theblock.co/post/359040/bloomberg-analysts-raise-odds-of-spot-xrp-dogecoin-and-cardano-etf-approvals-to-90
• https://cointelegraph.com/news/bitcoin-production-cost-rises-energy-hashrate-increase-q2 
• https://cointelegraph.com/news/malaysia-launches-digital-asset-sandbox-to-test-stablecoins

Disclaimers

• Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. It is important to study information carefully and invest based on your own risk profile.
• Past returns or performance of digital assets do not guarantee future returns or performance. 

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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