Original｜Odaily Planet Daily（@OdailyChina）
Author｜Wenser（@wenser2010）
Waking up, BTC has once again reached a new high!
At around 4 AM today, the price of BTC rose to $112,000, setting a new historical high, with the current price reported at around $111,240; ETH also reversed its downward trend, breaking through $2,700, currently reported at $2,782, with a 24-hour increase of nearly 7%; SOL has also rebounded to nearly $160, currently reported at $158, with a 24-hour increase of over 4%.
The arrival of this new high has once again prompted the market to ask the age-old question: When will altcoin season arrive? Odaily Planet Daily will analyze the driving factors behind the recent price increase and representative market opinions in this article.
Macroeconomic Environment Stabilizes, Impact of Trump’s Tariff War Diminishes
On a macro level, with the ceasefire between Israel and Palestine and the phased end of Trump’s tariff war, the cryptocurrency market and the global economic environment are stabilizing, providing some support for the price recovery of mainstream cryptocurrencies like BTC and ETH.
Tariff War Delay, Market Panic Significantly Eased
On July 9, U.S. President Trump released letters regarding tariff increases to the leaders of 8 countries on the social media platform Truth Social, including Brazil, the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka. Trump stated that a 50% tariff would be imposed on Brazil, while Libya, Iraq, Algeria, and Sri Lanka would face a 30% tariff, Brunei and Moldova would have a 25% rate, and the Philippines would have a 20% rate. The new tax rates will take effect on August 1. Trump has sent tariff letters to 22 countries.
Institutional View: Market Not in Panic Over Trump’s Tariffs
Analytical firm Jyske Markets believes that ahead of the July 9 deadline for U.S. tariff negotiations, the market showed some tension but did not panic. Jyske stated that investors adopted a wait-and-see attitude starting Monday. Trump indicated that the tariff letters would be sent out as early as Monday, notifying countries of the new tariffs, while the U.S. Secretary of Commerce stated that the tariffs would not take effect until August 1. “Despite some tension today, the market's reaction to the tariff situation seems much more relaxed, so a repeat of the panic situation after Liberation Day on April 25 is not expected.”
Institutional View: Trump’s Delay in Tariff Increases Leads to Postponed Impact
UBS Chief Economist Paul Donovan stated that Trump’s postponement of the tariff increase to August 1 may mean that the impact of these new tariffs on prices will not be fully realized before Christmas, but will be pushed back to 2026. He pointed out: “Considering that retailers usually stock up for Christmas in advance, and that goods need to go through the entire supply chain process from production to shelf, even if the tariffs are implemented now, the time when consumers actually feel the price increase may be later. This undoubtedly alleviates some shocks for American consumers in the second half of the year.” Avoiding the cost pressure from tariffs during the year-end shopping season is beneficial for the White House to avoid negative news.
In other words, just like the story of the boy who cried wolf, when a story is told multiple times, its deterrent effect naturally diminishes, and the panic impact of the tariff war on the cryptocurrency market and the global economy has significantly decreased.
At the same time, the successful passage of the “Big and Beautiful” bill may further compel the Federal Reserve to push for interest rate cuts earlier to alleviate declining economic indicators.
After the First Stock of Stablecoins, Public Companies Accelerate Accumulation Plans
On the other hand, unlike the previous market environment, since the successful listing of “the first stock of stablecoins” Circle, which achieved a tenfold increase, the acceptance of cryptocurrencies by traditional financial markets and the expectations for market capitalization have significantly increased, further accelerating the accumulation plans of public companies. In addition to established BTC accumulation companies like Strategy, an increasing number of public companies are shifting their accumulation targets to ETH, SOL, and even altcoins like HYPE. The emergence of securities tokenization platforms like xStocks and MyStonks also provides many bridges for the deep coupling of traditional financial markets and cryptocurrency markets, and the liquidity of funds between TradFi and DeFi ecosystems is expected to usher in another wave of integration.
Last Week, Global Public Companies’ BTC Net Inflow Totaled $275 Million
According to SoSoValue data, as of July 7, 2025, the total net inflow of Bitcoin from global public companies (excluding mining companies) last week was $275 million.
Strategy (formerly MicroStrategy) did not purchase Bitcoin last week, after continuously increasing its holdings for 13 weeks.
Japanese public company Metaplanet continued to make large purchases last week, investing a total of $238.7 million, acquiring 2,205 BTC at a price of $108,237, bringing its total holdings to 15,555 BTC; the recent weekly purchase amount continues to expand.
The UK digital advertising company The Smarter Web and the French Web3 service company Blockchain Group also made large purchases last week. The Smarter Web invested $23.9 million, acquiring 230.05 BTC at a price of $103,895, bringing its total holdings to 773.58 BTC; Blockchain Group invested $12.33 million, acquiring 116 BTC at a price of $106,294, bringing its total holdings to 1,904 BTC.
Additionally, on July 1, the U.S. food service company DayDayCook (U.S. stock code: DDC) announced the completion of its first round of financing, raising $53 million, with a remaining financing plan balance of $475 million (including $275 million in convertible bond financing and $200 million in equity financing), and the company plans to use the net proceeds from this issuance to purchase Bitcoin.
As of July 7, the total amount of Bitcoin held by the global public companies (excluding mining companies) in the statistics is 666,220 BTC, with a current market value of approximately $7.23 billion, accounting for 3.35% of Bitcoin's circulating market value.
Moreover, the list of public companies' BTC reserve plans continues to grow this week.
New York Stock Exchange-listed company Genius Group announced that it has increased its original target of 1,000 BTC in Bitcoin reserves tenfold, planning to achieve a purchase plan of 10,000 BTC within 12-24 months. Genius Group also stated that the company has achieved a 74% return on BTC from May 22, 2025, to July 4, 2025.
BitcoinTreasuries.NET reported that Australian public company DigitalX will acquire $20.7 million worth of BTC, which will elevate the company to the 50th position on the BTC TOP 100 list.
Japanese public company Remixpoint announced that it raised approximately 31.5 billion yen (about $215 million) through financing and plans to use all funds to purchase Bitcoin. The company currently holds 1,051 BTC, with a recent target to increase its holdings to 3,000 BTC. The company stated that this move is based on a firm belief in Bitcoin's future and the result of internal long-term discussions.
According to official announcements, Sweden's H100 Group has raised an additional 516 million Swedish Krona (approximately $5.4 million) through the execution of the sixth and seventh rounds of financing (previously announced on June 16, 2025), and the funds will be used to advance investment opportunities within the Bitcoin reserve strategy framework. To date, the group has raised a total of 921 million Swedish Krona (approximately $96 million), significantly increasing from the previous scale of 405 million Swedish Krona (approximately $42 million).
ETH Becomes New Target for Public Company Accumulation
On July 9, blockchain technology-focused company BTCS Inc. (NASDAQ code: BTCS) announced that it has raised its financing target to $225 million to accelerate the company's accumulation strategy on Ethereum.
According to OnchainLens monitoring, Sharplink Gaming recently increased its holdings by 5,072 ETH, valued at approximately $13.51 million at current prices. The company now holds over 210,700 ETH, with a total value exceeding $585 million.
On July 2, Nasdaq-listed company Bit Digital stated that due to the underwriters exercising their over-allotment option, the company has additionally purchased 11.25 million shares from last week's public offering, raising an additional $21.4 million to support its Ethereum reserve plan. After the full exercise of the over-allotment option, the total issuance scale of this transaction increased to 86.25 million shares, with a net fundraising amount of approximately $162.9 million. Bit Digital will use these funds to purchase Ethereum and promote a strategic transformation, gradually exiting the Bitcoin mining business. In June of this year, this company, which is involved in both mining and staking, announced that it would gradually shut down its Bitcoin mining operations and focus on the Ethereum sector.
For more potential positive news regarding ETH, please refer to “Five Major Upward Logics Becoming Clearer, ETH May Welcome Structural Reversal”.
Data Indicators Highlight ETH Entering Whale Accumulation Phase
Glassnode data shows that whales holding at least 10,000 ETH are accelerating their accumulation, with the speed even surpassing the levels seen before ETH rose 95% in mid-2022.
As of this Monday, the total amount of ETH held by these whales has rebounded from a historical low of 37.56 million in October 2024 to 41.06 million, an increase of 9.31%. This growth rate is nearly double that of the period from May to September 2022 (when ETH prices rose from about $1,000 to $1,950). A similar situation occurred from November 2020 to January 2021, when whale holdings increased by 4%, and ETH prices soared from $460 to $1,220.
History shows that whales often begin accumulating before the market fully launches. Glassnode data indicates that the $2,500-$2,536 range is the strongest accumulation area recently, with over 3.45 million ETH concentrated at this cost price, forming a key support level.
At the same time, traditional financial institutions have also begun to expand the mainstreaming process of cryptocurrencies through credit card points and other means.
Japanese Financial Institution SBI Allows Users to Exchange Credit Card Points for BTC, ETH, and XRP
Recently, Japanese financial institution SBI has allowed users to exchange APLUS credit card points for BTC, ETH, and XRP, meaning that Japanese credit card users can now convert loyalty points into cryptocurrencies through SBI VC Trade and APLUS. It is understood that 2,100 points can be exchanged for cryptocurrencies worth over 2,000 yen.
This move can be seen as another landmark event in bringing cryptocurrency payments into the lives of ordinary people after "stablecoin payments."
Continuous Net Inflows for BTC ETF and ETH ETF
According to Lookonchain monitoring, yesterday, 10 Bitcoin ETFs had a net inflow of 718 BTC (approximately $7.823 million), with iShares (BlackRock) contributing 613 BTC, currently holding 700,920 BTC (approximately $76.33 billion). Nine Ethereum ETFs had a net inflow of 11,803 ETH (approximately $3.125 million), with iShares contributing 9,684 ETH, currently holding 1,836,453 ETH (approximately $4.86 billion).
Hong Kong's Crypto Regulatory Policies Relaxed, Potential for New Bull Market Development
Hong Kong's crypto regulatory policies are also gradually relaxing, injecting new vitality into the development of the cryptocurrency market.
On one hand, the "Stablecoin Regulatory Draft" is poised for action, and many stablecoin concept stocks and cryptocurrency companies will welcome a new round of opportunities; on the other hand, several local Hong Kong brokerages have obtained compliance licenses for crypto trading, facilitating further capital inflow into the crypto market.
According to sources revealed, several local brokerages in Hong Kong (such as Victory Securities, Aide Securities, etc.) have completed the upgrade of License No. 1, and Guotai Junan International is not the only Chinese-funded brokerage applying for such licenses. More institutions are expected to enter the compliant crypto trading services. The businesses conducted by these brokerages are of a "distribution" nature, not a proprietary exchange model, mainly providing compliant trading channels for mainstream cryptocurrencies like BTC and ETH through the establishment of omnibus accounts at licensed exchanges, without involving high-risk altcoins. Currently, the compliance requirements for customer due diligence, suitability management, and investor education at these brokerages are basically consistent with those of Guotai Junan International, and participation by residents from mainland China is prohibited.
Market Representative Opinions Overview: $115,000 Becomes Acceleration Signal for BTC, Crypto Concept Stocks May Lead Altcoin Season
Currently, as BTC prices break new highs, the prevailing market opinions regarding future trends are mostly bullish, but there are still some differences regarding whether altcoin season can arrive soon.
Trader Eugene: BTC Breaking $115,000 Will Confirm Acceleration Signal
Trader Eugene stated that Bitcoin has not yet fully exited the risk zone, and a true acceleration signal requires the price to directly break through $115,000 with high trading volume.
DWF Partner: Bitcoin and Crypto-Related Stocks May Reach New Highs, Some Altcoins Will Follow Suit
DWF Labs Executive Partner Andrei Grachev stated that the approval of the "Big and Beautiful" bill, seasonal market activity in the fourth quarter, and potential interest rate cuts will drive Bitcoin and crypto-related stocks to new highs. The altcoin market may partially follow the rise, but most mid-cap coins are expected to underperform Bitcoin, presenting opportunities once again.
Analyst: Altcoins and Institutional Bitcoin Hot Money Flowing into Bitcoin Treasury Companies and Crypto-Related Stocks
Analyst Scott Melker stated last month that "Currently, hot money from altcoins and institutional Bitcoin is flowing into Bitcoin treasury strategy companies and crypto-related stocks. In the future, this money may flow into Wall Street tokenization plans."
Bloomberg Analyst: U.S. SEC May Approve Multiple Altcoin ETFs in the Second Half of 2025
Earlier this month, Bloomberg ETF analyst James Seyffart released a prediction regarding the approval probability of crypto spot ETFs by the end of 2025, indicating that a new wave of ETF approvals is expected in the second half of 2025. Among them, LTC, SOL, and XRP have a 95% approval probability, while DOGE, HBAR, Cardano, Polkadot, and Avalanche are expected to have a 90% approval probability. SUI is expected to have a 60% approval probability, while Tron/TRX and Pengu are expected to have a 50% approval probability.
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