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Good Morning, Asia! Welcome to your daily Asia Morning Briefing, where we summarize the most significant market news and provide insights during U.S. trading hours. Today, we dive into the latest trends in Bitcoin (BTC) and altcoins, along with the implications for investors and traders.
Bitcoin Surges Past $120,000
As Asia kicks off its business day, Bitcoin is trading above $120,500, marking a 1.7% increase in the last 24 hours. This surge comes as market maker Enflux notes a potential shift in market dynamics, suggesting that BTC’s dominance may be waning. With Ethereum (ETH) also climbing by 3% and aiming to test the $3,500 level, the stage appears to be set for a broader rotation into high-beta altcoins.
Market Insights: BTC Dominance and Altcoin Rotation
Enflux has observed that funding and positioning in Bitcoin are starting to appear extended. As BTC’s dominance slips, traders may increasingly pursue upside opportunities in meme coins, decentralized finance (CeFi) tokens, and other speculative assets. Notably, Caldera has reported a remarkable 90% daily gain, alongside rising volumes in tokens like Curve and FLOKI, signaling a renewed risk appetite among investors.
“We are closely monitoring altcoin market depth and bid-side resilience as ETH flows accelerate,” Enflux stated. “If current patterns persist, a broader altcoin rotation could follow in the upcoming sessions.” This aligns with the bullish sentiment surrounding XRP, which has recently broken through its 2018 peak of $3.50, further indicating a potential altcoin surge.
Ethereum’s Positive Momentum
Coinbase and Glassnode’s latest Charting Crypto report highlights that Ethereum ETFs attracted over $1.7 billion in inflows during Q2, effectively reversing losses from the prior quarter. Ethereum’s Net Unrealized Profit/Loss (NUPL) has shifted from a state of capitulation to optimism, with 90% of ETH’s supply now in profit, up from under 40% in Q1.
Layer 2 (L2) activity is also witnessing a significant uptick, with transactions increasing by 7% and fees declining by 39%. This trend underscores healthier on-chain economics and broader adoption of Ethereum. However, Coinbase remains cautious, asserting that “only select altcoins may perform well depending on their unique circumstances.” Despite this, the conditions appear ripe for an accelerating rotation in the altcoin market.
Crypto Crime: An Alarming Rise
In a shocking revelation, crypto crime has reached an all-time high in 2025, with criminals stealing over $2.17 billion in digital assets. This surge is largely attributed to a catastrophic event involving a $1.5 billion exploit of the crypto exchange ByBit, linked to North Korean state-sponsored hackers. This incident alone accounts for nearly 70% of all service-related losses this year, reshaping the threat landscape for the crypto industry.
The pace of thefts is accelerating; it took only 142 days in 2025 to surpass $2 billion in stolen funds, significantly quicker than the 214 days in 2022. While major exchanges remain primary targets, a growing portion of losses is now stemming from personal wallets, which have accounted for over 23% of thefts this year. Criminals are increasingly utilizing social engineering tactics and AI-powered phishing tools to exploit individuals rather than institutions.
Chainalysis has also reported a troubling increase in physical “wrench attacks,” where criminals resort to violence to force victims into relinquishing access to their digital assets. Notably, these incidents tend to spike during Bitcoin rallies, indicating opportunistic targeting during bullish market conditions. With over $8.5 billion in stolen assets from personal wallets still on-chain, Chainalysis warns that we may see even more sophisticated and violent tactics unless robust security measures are implemented promptly.
Market Movements: Key Updates
- Bitcoin (BTC): Bitcoin recently surged past $120,000 following reports that President Trump may sign an executive order permitting retirement accounts, such as 401(k)s, to invest in alternative assets, including cryptocurrencies.
- Ethereum (ETH): Ethereum climbed 3.12% to $3,477.70 in a volatile session, finding strong support near $3,315 due to renewed interest following the GENIUS Act, which is driving rotation flows from BTC into ETH and rallies in assets like XRP.
- Gold: Gold fell nearly 1% to around $3,315 during Thursday’s European session, pressured by stronger-than-expected U.S. retail sales and jobless claims data that bolstered the dollar.
- Nikkei 225: Japan’s Nikkei 225 edged up 0.075% to close at 39,931.16 on Thursday, extending gains on Friday morning with an additional 0.3% rise to 40,034.
- S&P 500: U.S. stocks ended higher on Thursday, with the S&P 500 and Nasdaq hitting record highs as all major indexes posted solid gains.
- In Other Crypto News: E-Bike Maker’s Shares Soar 135% on a $500 Million Bitcoin Treasury Plan (Decrypt). The GENIUS Act for Stablecoins has passed the House, marking a significant step towards becoming the first major U.S. crypto law (CoinDesk).
As we navigate the evolving landscape of cryptocurrencies and altcoins, staying informed and vigilant is essential. For more insights on cryptocurrencies like XRP, Ethereum, and others, explore our guides and resources.
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Meta Description: “Explore the latest Asia Morning Briefing as Bitcoin surges past $120,000 and altcoin season ramps up. Discover critical market insights, Ethereum’s bullish momentum, and the alarming rise of crypto crime in 2025. Stay updated on the evolving cryptocurrency landscape!”
