Bitcoin rose by 0.7% to reach $106,160, remaining within a sideways trading range between $103,000 and $108,500 since early June. This movement reflects a balance between buying pressure and profit taking, awaiting new catalysts to break out of the current range. Technically, a breakout above $108,500 would support a new bullish wave, while a drop below $103,000 would renew selling pressure, potentially pushing prices toward lower support levels.
Despite Bitcoin’s rise, altcoins did not respond with the same strength. Ether posted a modest gain, while Cardano dropped by approximately 1.8%, and XRP remained flat. This divergence in performance reflects a decline in risk appetite among traders, especially amid waning momentum that had lifted markets earlier in the week. Profit-taking emerged early, signaling overall caution in approaching the current market phase.
Shares of brokerage firm Guotai Junan jumped more than 100% after its Hong Kong branch received an expanded license to provide digital asset services. This development marks a significant step in Hong Kong’s efforts to solidify its position as a regulated hub for crypto trading, amid a growing global shift toward institutional regulation, particularly in the area of stablecoins, which are gaining importance in the digital financial system.
The crypto market is currently in a wait-and-see mode, with clear sideways trading across most digital assets. Price movements are largely tied to upcoming decisions from central banks most notably the U.S. Federal Reserve alongside the stabilization of global geopolitical and economic conditions. The speculative nature of the crypto market makes it highly sensitive to shifts in sentiment, making it advisable in this stage to focus on technical ranges and manage risk exposure until a clearer picture emerges.
Markets are witnessing a clear institutional shift toward adopting stablecoins as a strategic financial tool. Stably is leading this shift by offering integrated services that enable banks, brokerages, and commercial institutions to issue their own stablecoins flexibly and in compliance with regulatory frameworks. These services cover development, integration, and both technical and financial consulting providing clients with high operational readiness in minimal time.
Growth in the stablecoin market is supported by a favorable regulatory environment in the U.S., particularly following the approval of legislation like STABLE and GENIUS. This positive climate has encouraged major companies such as Amazon, Walmart, and JD.com to announce their entry into the space a strong indicator of the imminent widespread adoption of stablecoin-based payment technologies in the coming years.
Stably operates on a flexible infrastructure not tied to any single blockchain, enabling it to serve clients across multiple chains. Its services cover all technical and operational aspects, including liquidity management, maintaining fiat peg stability, and integration with decentralized finance (DeFi) systems. This flexibility makes its offerings attractive not only to financial institutions but also to non traditional sectors such as retail, technology, and telecommunications.
Ethereum recorded a 10.01% increase to trade at $2,443.51 its strongest daily gain since May 10 driven by returning liquidity and renewed interest in digital assets. This upward move restored momentum for Ether, lifting its market capitalization to $294.45 billion, representing 9.06% of the total crypto market. However, it remains well below its previous peak of $569.58 billion, suggesting significant room for recovery, provided that liquidity continues to improve and institutional capital flows in.
Over the past 24 hours, Ethereum traded in a narrow range between $2,377 and $2,447, while the weekly range was broader between $2,115 and $2,568. Despite the strong daily gains, Ether lost about 2.39% over the past week, indicating ongoing volatility and market instability. A trading volume of $27.9 billion (18.34% of total market volume) reflects renewed interest though still accompanied by caution among traders.
Cardano rose by 10.24% to $0.5893 its best daily performance since May 8 in a strong technical rebound from support levels near $0.51. This move indicates buying interest emerging from lower levels, potentially setting the stage for a retest of previous resistance zones.
Cardano’s market capitalization rose to $20.7 billion, accounting for 0.64% of the total digital market. Despite the recent gains, Cardano remains far from its all time high, which exceeded $94 billion. This wide gap indicates that the market is still undergoing a long term correction and will likely require institutional catalysts or fresh capital inflows to resume a medium term upward trend.
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