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As the king cryptocurrency stands around $104,800, recent market dynamics have led to fluctuations. The announcement from Mexico regarding new tariffs initially led to a market dip down to $107,179, although tensions eased shortly after a clarification that these moves were not retaliatory. All eyes are now on the anticipated meeting between Trump and Xi, during which significant data releases are expected over the next 24 hours.
Bitcoin and Altcoins Resilience
Bitcoin 
$105,688 is hovering just shy of the $105,000 mark. Some altcoins like ETH have depreciated by around 5%, reflecting a week where BTC lost 3.5% of its value. Bitcoin’s market dominance stands at 63.3%, with the total market value of cryptocurrencies falling below $3.3 trillion. Despite significant market movements, the total market volume remains steady at $103 billion, causing concerns among investors.
Among the top 100 cryptocurrencies, FARTCOIN, VIRTUAL, DEXE, and WIF suffered the heaviest losses, with declines ranging from 20% to 30%. Although a mid-June rally was expected, heightened tensions driven by Trump’s remarks on China have disrupted these optimistic projections. The market now relies on trade agreements to bring stability.
QCP Analysts’ Insights
QCP analysts have released a new market analysis for Asian investors, highlighting key macroeconomic and crypto-specific developments. They emphasize the significance of the recent weakness in the ADP and ISM indices for the US economy. Despite this weakness, risk markets remain robust, and Trump’s appeal for interest rate cuts adds to the mix of macroeconomic factors.
President Trump criticized Federal Reserve Chairman Jerome Powell for not lowering interest rates, subsequently tweeting about the need to raise the US debt ceiling. This underscores the momentum of fiscal dominance, further bolstered by Treasury Secretary Scott Bessant’s announcement of a “Great Beautiful Law,” promising 100% tax cuts for new US manufacturing centers.
Institutional adoption of cryptocurrencies continues to accelerate as JPMorgan approves crypto ETFs as collateral, officially recognizing them as part of clients’ net assets. Public companies are joining the trend, with firms like K Wave Media allocating to crypto treasury bonds.
Even as May saw record-breaking spot ETF inflows, the pace slightly diminished in June, with BTC and ETH ETF flows totaling $87 million and $57 million, respectively. Despite the seasonal summer lull, structural trends remain positive, indicating a favorable long-term price outlook.
Given this backdrop, what are the market expectations?
As macro conditions gradually turn favorable for BTC, potential upward breakouts might surpass past highs. Products like ERKO Seagulls present zero-cost involvement opportunities, capturing asymmetric upward movements effectively.
