Asia Morning Briefing: US Loads Up, Germany Cashes Out as BTC Holds Near $119K
2025-07-15 02:04:37
Main Idea
Bitcoin (BTC) continues to break records with institutional inflows and price highs, while regional disparities and market froth raise caution. BTC outperforms luxury watches, reflecting its shift to a macro-sensitive asset.
Key Points
1. BTC trades near $119,500, with U.S.-listed funds seeing $3.74B inflows, while Germany experienced $85.7M outflows.
2. QCP Capital warns of market froth as BTC funding rates near 30% and open interest tops $43B, recalling February's $2B liquidation event.
3. BTC has surged 27.87% YTD, outperforming luxury watches (+4.5% in Q2), driven by institutional interest and 24/7 liquidity.
4. BTC's correlation with luxury watches broke in late 2023 post-spot ETF approval, now seen as a macro asset, while watches return to fashion roots.
5. ETH surged past $3,079, holding support above $3,000, while gold dipped slightly and silver hit a multi-year high.
Description
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. As bitcoin (BTC) trades near $119,500, having just recently broken through another all-time high of $120,000 , digital asset investment products are also breaking records for inflows β but there's a regional disparity. According...
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