- ZBT+70Positive
ZEROBASE (@zerobasezk)
ZEROBASE WEEKLY 6.29-7.5 ZBT performed well, bucking the downward trend to rise. It traded in the $0.12–$0.14 zone, climbing toward $0.14 on July 1 supported by a sharp surge in trading volumes that exceeded $50M on peak days during a technical breakout from a downtrend. Liquidity conditions stayed solid across the entire period, with tight bid-ask spreads holding firm. Crypto market showed signs of resilience this week amid lingering volatility, geopolitical tensions, and mixed macro signals, managing a modest recovery driven largely by short-covering and easing near-term rate-hike concerns. Total market capitalization moved from roughly $2.20T–$2.25T early in the period toward the $2.25T–$2.30T zone by Sunday, with Bitcoin dominance holding steady near 55%. Bitcoin opened the week near $59,500–$60,000, pulled back to a mid-week low around $57,700–$58,500 on July 1, then rebounded sharply to trade in the $63,000–$63,200 range by close — recording a net gain of roughly 5% from the weekly low. ETH moved in tandem, starting around $1,610, dipping toward $1,550 mid-week before settling near $1,770–$1,780. Derivatives metrics pointed to cautious but stabilizing sentiment: BTC futures open interest held largely steady in the $45B–$50B band, 24-hour liquidations stayed moderate with a notable short-squeeze component in recent sessions, and funding rates on major pairs such as BTC/USDT remained near neutral. Macro developments provided mixed signals but ultimately supportive tailwinds for risk assets. The June jobs report showed only +57,000 jobs added (weaker than expected), with unemployment dipping to 4.2%, which reduced near-term Federal Reserve rate hike concerns. Geopolitical risks persisted with US-Iran tensions in the Persian Gulf and ongoing Middle East developments, yet de-escalation talks offered some relief. US equities rebounded strongly in the shortened trading week: the S&P 500 gained approximately 1.8%, the Nasdaq rose ~2.1%, and the Dow added ~2.0%, hitting record highs amid a Mag 7 recovery. Still, the sector held firm as institutional positioning showed tentative stabilization. Bitcoin spot ETFs suffered heavy June outflows of roughly $4.15B (the worst monthly total since launch), but recorded a notable $222M net inflow on July 2, snapping a 10-day outflow streak. Positive regulatory signals, including SEC comments indicating a more neutral approach to crypto products and political backing against treating Bitcoin like stocks for payments, offered a constructive longer-term backdrop. Key developments this week also included the CLARITY Act deadline slipping and continued institutional interest in Ethereum infrastructure. In summary, the period delivered a measured rebound in spot prices and positioning despite the Crypto Fear & Greed Index remaining in extreme fear territory (readings around 15–22). With short-covering providing immediate momentum, macro relief from soft jobs data, regulatory progress, the market appears to be establishing a more stable base heading further into Q3 — though sustained institutional inflows will be key to confirming the trend.