Trading Desk Insights
Bitcoin hit a new all-time high yesterday, breaking through $112,000 for the first time ever, while BTC dominance sits at 64.5% and is edging down slightly, which could be an early sign that an alt season is starting to build. Institutional demand remains a key driver, with companies adding around 159,100 BTC in the second quarter of 2025, lifting corporate reserves to about 847,000 BTC, now roughly 4% of total supply. El Salvador’s $400 million unrealized profit continues to strengthen Bitcoin’s position as a sovereign reserve asset. In late June, spot Bitcoin ETF flows added another $667 million to the market, keeping steady buy pressure in place.
On the technical side, Bitcoin continues to hold above key levels despite stretched momentum signals, with the RSI at 62 and price holding above the $108,100 support level and the 50 day moving average near $106,800.
Pump.fun also released its tokenomics: 33% to ICO, 24% to community and initiatives, 20% to team, 13% to investors, and 3% to streaming. Over 50% of tokens will be unlocked at launch, including the entire ICO share, while team and investor allocations will have a one year cliff.
On the macro side, today’s unemployment claims came in at 227,000, below the forecast of 236,000 but slightly higher than the previous 232,000, highlighting a labor market that remains solid.
Tomorrow, attention turns to a large options expiration date, often called options expiration Friday, which happens on the third Friday of each month and could add extra market volatility as significant notional value rolls off the books.
The News Room
Emirates, Dubai Duty Free Partner with Crypto.com for Crypto Payments
Emirates Airline and Dubai Duty Free have signed separate MoUs with Crypto.com to integrate crypto payments into their systems, marking a major step in Dubai’s push for financial innovation. Under the deals, Emirates will adopt Crypto.com Pay by next year, giving travelers more flexible payment options. Dubai Duty Free will explore accepting crypto both in-store and online. The partnerships, signed in the presence of Sheikh Ahmed bin Saeed Al Maktoum, also include joint marketing plans to expand real-world crypto use. Crypto.com sees this as a milestone for digital assets in the GCC as Dubai cements its position as a crypto hub.
Remixpoint Raises $215 Million to Expand Bitcoin Treasury
Tokyo-listed energy and fintech firm Remixpoint has secured $215 million to grow its Bitcoin holdings, aiming to build a 3,000 BTC reserve.
The funds were raised through new stock rights and bonds, creating 55 million shares at market price. Remixpoint, now Japan’s 30th largest corporate Bitcoin holder, currently owns 1,051 BTC worth over $113 million.
CEO Takashi Tashiro will also take his full salary in Bitcoin, aligning with shareholders and the firm’s pivot to Bitcoin-focused treasury management. The board says the move balances opportunity and risk while boosting long-term corporate value.
Pump.fun Confirms PUMP Token Sale, Europe Users Blocked
Bybit has confirmed it will host the Pump.fun PUMP token sale, but European Union users will be excluded due to MiCA rules. The public sale launches Saturday, offering 150 billion PUMP tokens at $0.004 each. Bybit, the world’s second-largest crypto exchange, is the sole major platform leading the sale. Pump.fun, a no-code memecoin launchpad, gained fame for its viral Solana-based tokens but now faces falling volumes and rising competition. The team says the sale aims to push its goal of challenging big social platforms like Facebook and TikTok.
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