Week of July 1 - 7, 2025

Japan has proposed legislation to reclassify cryptocurrencies as financial products, paving the way for legal establishment of crypto ETFs. The bill also seeks to reduce the maximum tax rate from 55% to a flat 20%, aiming to keep pace with global trends. As of January 2025, the country’s crypto accounts surpassed 12 million, with total assets exceeding 5 trillion yen.

Hong Kong has announced a new policy to promote itself as a global hub for digital asset innovation, with a sharp focus on tokenizing financial products like government bonds, as well as gold and energy assets. The city will begin issuing stablecoin issuer licenses from August 1, 2025, and is actively developing a skilled workforce in blockchain and digital assets.

Bhutan revealed it has been accumulating Bitcoin through domestic, energy-powered mining for over five years, reaching more than 12,000 BTC—valued at around USD 1.3 billion, or nearly 40% of the country’s GDP. These funds have helped support national spending, including government employee salary increases.

Jerome Powell, Chair of the U.S. Federal Reserve, stated that Bitcoin and other cryptocurrencies are becoming increasingly mainstream. He believes banks should be able to offer digital asset services under a regulated framework, and is currently reviewing guidelines set during the Biden administration.

A report from Avenir Group and Glassnode found that most inflows into Spot Bitcoin ETFs are long-only, with no hedging—evidence of strong long-term institutional conviction rather than short-term arbitrage strategies.

The number of stablecoin users on Ethereum reached an all-time high last week, surpassing 750,000 in a single week. Major stablecoins like Tether (USDT), USDC, BUSD, and DAI are seeing increased adoption, signaling the possible start of a “Stablecoin Season.”

Japanese investment firm Metaplanet announced it has acquired an additional 1,234 BTC at an average price of USD 107,557 per coin, totaling USD 132.7 million. This brings Metaplanet’s total Bitcoin holdings to 12,345 BTC, overtaking Tesla, which currently holds 11,509 BTC.

Grayscale Research has added Avalanche (AVAX) and Morpho (MORPHO) to its top 20 digital assets for Q3, while removing Lido DAO (LDO) and Optimism (OP), citing steady ecosystem growth and increased on-chain usage for the added tokens.

Technical Analysis

Bitcoin (BTC)

Bitcoin (BTC) is showing signs of recovery and is approaching a potential breakout to a new all-time high. If BTC can break through resistance at $112,000, the next target is $120,000. However, if it fails to surpass this level, it may retest the previous low at $98,000. The current strategy continues to favor a Buy on Dip approach.

• Support: 3,200,000 THB / 98,000 USD
• Resistance: 3,650,000 THB / 112,000 USD

Ethereum (ETH)

Ethereum (ETH) has rebounded quickly after testing key support at $2,100. This level can be used as a stop-loss point if the support fails or a re-entry point if it holds. The resistance target is $2,850. A breakout above this level would signal the end of the sideways trend and the start of a new upward move, with a medium-term target at $4,000. 

• Support: 70,000 THB / 2,100 USD
• Resistance: 94,000 THB / 2,850 USD

Arbitrum (ARB)

Arbitrum (ARB) gained 22% over the past week, fueled by news of a potential partnership with Robinhood. After the rally, the price may enter a correction phase. Watch for a potential buy zone around $0.2460 as a key support level, with the first resistance target for profit-taking at $0.4080.

• Support: 9.50 THB / 0.2460 USD
• Resistance: 13.50 THB / 0.4080 USD
  
  

Aptos (APT)

Aptos (APT) posted a 21.86% weekly gain, rebounding from its recent low and signaling a potential bullish reversal. Look for buying opportunities on pullbacks near $4.245. If the price drops below this level, consider exiting the position. The profit-taking target is $5.300.

• Support: 140 THB / 4.245 USD
• Resistance: 172 THB / 5.300 USD

Investment Trends

The U.S. Federal Reserve Chair Jerome Powell provided testimony before both the House and Senate, but offered no significant new insights. The Fed continues to hold its current monetary policy stance. All eyes are now on the upcoming Non-Farm Payroll (NFP) report on Thursday, July 3, with expectations for 120,000 new jobs, down from 139,000 in the previous report. If results match expectations, it could be supportive for the market.

The Bitcoin Dominance Index continues to hit new highs, while the Altcoin Season Index has dropped steadily to a notable low at 22 indicating persistent pressure on altcoins. Historically, when the Altcoin Season Index reaches this level, it may mark a local bottom. Investors could look for resilient coins, especially in the DeFi lending space and among stablecoin-related tokens.

Looking ahead, July could see the so-called “July Effect” or Summer Rally, a period when U.S. equity markets often perform well after Q2 consolidation. Recent all-time highs in the S&P 500 and Nasdaq could provide a tailwind for the crypto market as well.

Investment Strategy: Continue focusing on short-term trades in Bitcoin as BTC shows potential to reach new highs this quarter. Also consider increasing exposure to Ethereum (ETH) and large-cap altcoins, which stand to benefit from the anticipated approval of new altcoin ETFs.

แหล่งอ้างอิง

• https://cointelegraph.com/news/japan-crypto-reclassification-etfs-tax-shift
• https://www.info.gov.hk/gia/general/202506/26/P2025062600269.htm?fontSize=1
• https://www.cryptoninjas.net/news/bhutan-secretly-mines-1-3b-in-bitcoin-now-holds-nearly-40-of-its-gdp-in-btc/
• https://cryptobriefing.com/crypto-mainstream-adoption-fed/
• https://cointelegraph.com/news/unhedged-spot-bitcoin-etf-flows-show-btc-is-now-a-macro-asset
• https://www.theblock.co/post/359276/ethereum-based-stablecoin-adoption-hits-fresh-all-time-high-with-over-750000-unique-weekly-users-a-new-all-time-high
• https://www.theblock.co/post/359754/metaplanet-surpasses-tesla-12345-btc-total-holdings 
• https://research.grayscale.com/market-commentary/grayscale-research-insights-crypto-sectors-in-q3-2025

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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