Oil Prices and Global Economic Impact

Oil is currently trading at $100.51. Truthfully, this price level is putting pressure on US stock markets. On Thursday, prices approaching $100 per barrel caused sharp losses in indices. On the other hand, Bessent’s statements limited short-term panic reactions in the market. Actually, experts say that the temporary disruptions in oil supply will not disturb long-term economic balance. However, global energy and geopolitical risks remain high, so prices may continue to fluctuate in the short term and hover around $100.

Bitcoin and Altcoin Market Reaction and Consolidation

Bitcoin jumped to the $71,400 – 72,000 range within minutes following Bessent’s statements. Ethereum (ETH) rose about 4.6% to $2,117, Solana (SOL) increased over 5%, XRP rose to $1.41, and BNB traded around $661. Actually, the total crypto market capitalization remains close to $2.4 trillion, moving within a narrow consolidation range since late January. If we look closely, this stability appears more reassuring compared to traditional financial markets.

Analyst Commentary

Analysts note that BTC has stabilized due to institutional investor interest and the exploration of Bitcoin-based financial infrastructure. Glassnode data show on-chain metrics improving while highlighting that sustainable gains require new capital inflow. FxPro’s chief market analyst said Bitcoin has settled near the top of its consolidation range and reached a safer level around $70,000. Actually, in previous months, almost any news triggered BTC sell-offs, whereas the current environment signals a fundamental shift in sentiment.

According to Coin Engineer Analyst:

“Bitcoin is currently trading below resistance. The fact that it is challenging this resistance is a positive signal; if it breaks through, the rally could be more sustainable. As mentioned in yesterday’s analysis, closing above $71,600 could move the target zone to $74,000. Since the decline has not made a new low and there has been a reaction, liquidity at the peak will likely be taken.

Short-term support is at $68,180. Some pullback to this level is normal. Actually, instead of taking positions from these levels, it is better to wait for the price to reach support and get a reaction. A shakeout may occur before any upward movement; if the resistance is broken or a pullback to support happens, opening new positions should be considered strategically.”

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The data, provided by Farside Investors, shows this is the first time ETFs have hit such levels since their launch in January 2024. Furthermore, the two-day inflows now represent two of the largest weekly inflows of all time. 

The total weekly inflow surpassed $2.72 billion. Bitcoin’s price surged to $112,000 on Wednesday and further climbed to $118,780 by Friday. This clearly indicates a significant increase in investor interest. 

ETF Demand Exceeds Supply by a Wide Margin 

Matt Hougan, Chief Investment Officer at Bitwise Invest, stated that the Bitcoin network only produced 450 BTC on Thursday, while spot ETFs purchased 10,000 BTC on the same day. This difference clearly shows that demand has far outpaced supply. 

Samson Mow, CEO of Jan3, emphasized that Wednesday’s ETF demand was 22 times the daily mining supply. He added that this ratio is unsustainable at current price levels. Nonetheless, ETFs have already accumulated substantial Bitcoin reserves due to the strong demand. 

Analyst Eric Balchunas noted, “The total assets of all spot Bitcoin ETFs surpassed $140 billion for the first time.” However, he added that most of the increase came from price appreciation. Moreover, with this surge in demand, market capitalization also increased significantly. The total assets of spot Bitcoin ETFs exceeded $140 billion, largely driven by Bitcoin’s price rise. 

BlackRock Bitcoin ETF Hits Record High 

BlackRock’s IBIT ETF surpassed the $80 billion AUM mark on Thursday. This achievement made IBIT the fastest ETF to reach that level. ETF analyst Eric Balchunas highlighted that IBIT accomplished this in just 374 days. 

Additionally, BlackRock’s annual revenue from the IBIT fund has now surpassed that of its flagship iShares Core S&P 500 ETF. This reflects how crypto ETFs are beginning to outpace traditional financial products. 

On July 9th, ETF demand for #Bitcoin was 22x greater than the daily mined supply.

Supply: 450 BTC
Demand: 9,963 BTC

The imbalance keeps widening. pic.twitter.com/pWxMFwSiLa

— JAN3 Financial (@JAN3Financial) July 11, 2025

All of these developments point to growing acceptance of Bitcoin in U.S. financial markets. As a result, both institutional and retail investor interest continues to pour into these products. 

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Bitcoin (BTC) has surged past $66,000, yet Bitfinex analysts’ recent report has sparked concerns among investors.

After Donald Trump survived an assassination attempt in Pennsylvania, Bitcoin took off, quickly surpassing $66,000. Rising from $53,500, BTC has instilled confidence in the market and its investors. However, the latest report from cryptocurrency exchange Bitfinex advises caution.

“We believe the current progress in the cryptocurrency market is driven more by news headlines than fundamental factors,” said Bitfinex analysts. “Concerns about selling pressure have not been completely alleviated, as Mt. Gox creditors are expected to receive BTC payments in the coming weeks. We anticipate these developments will continue to impact the price before the situation is fully priced in,” they added.

Bitcoin’s recent surge from $58,000 to $66,000 occurred after a major event last weekend when Republican presidential candidate Donald Trump survived an assassination attempt at a rally in Pennsylvania.

Bitget Research’s chief analyst, Ryan Lee, commented, “Trump survived an assassination attempt over the weekend, and the markets are interpreting this as a significant boost to his chances of winning future elections.”

Meanwhile, Germany’s crypto wallet was reset last Friday, with the government transferring all its Bitcoins to various exchanges and market makers. Mt. Gox continues to move billions of dollars’ worth of BTC in anticipation of creditor payments.

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