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- Crypto Saving Expert Newsletter - Issue 195
Crypto Saving Expert Newsletter - Issue 195
GM.
Bitcoin is heading into July at one of the most important levels of the year after a difficult close across multiple timeframes.
Fear is high, macro pressure is building, and investors are still trying to work out whether this is exhaustion or the start of another leg lower.
But it is not all weakness.
A few names are still holding up better than the rest, some ecosystem plays are showing signs of life, and the wider market is giving us plenty to watch beyond just the Bitcoin chart.
This is the kind of week where patience matters, levels matter, and reacting emotionally can be expensive.
Big few days ahead.
Let’s break it down.👇
Table of Contents
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Bitcoin Slumps To New Lows
Bitcoin has recorded fresh daily, weekly, and monthly lows in the current downtrend and bear market.
Bitcoin
Bitcoin recorded a fresh daily low on Tuesday as it was rejected at $61,000 for the fifth day in a row.
Bitcoin must reclaim this level, as seen on the chart, because it is key low time frame S/R which separates a bounce higher from potential new lows.
It is possible Bitcoin may consolidate, but the longer it remains weak and below $61,000, the higher the chances of another break lower.
Bitcoin Weekly
Bitcoin also recorded a new weekly low on last week’s candle close. It also simultaneously lost the 200-weekly moving average.
This is not a good sign for Bitcoin as the 200WMA is a key marker for high time frame strength or weakness.
The 300WMA is the next one down, located around $54,000.
The 400WMA has never been tapped by Bitcoin, so if it eventually is this year, it would be historic.
Bitcoin Monthly
Bitcoin also closed June’s candle as a new low during the current downtrend, eclipsing the February candle close.
However, Bitcoin is now within monthly S/R and we have 5 years of price action to confirm this.
Looking at the box highlighted on the chart, it is evident that the current region holds massive weight for Bitcoin.
The amount of monthly price action, particularly monthly closes, opens and wicks suggests this could be a significant period of time for BTC as it holds, or drops below.
Solana
Solana has been one altcoin that has garnered strength over the past week.
However, it is struggling at key S/R, which is the underside retest of previous support. This is now firm resistance for SOL, hence the inability for it to get above.
From here, if it breaks down, it could drop into the $67 region again where it built low time frame S/R.
If it breaks above, the rally could continue into the $83 supply region.
Jupiter
The last few months have seen activity in the Solana ecosystem heat up, and with network upgrades on the way, there is more capability to be built out.
However, the main beneficiaries of these are not the chains but the applications built upon them. One of these names is Jupiter, which is making significant revenues despite the bear market.
This has been reflected in the price, with JUP pushing up sharply. As focus in the ecosystem comes to profitability and growth, JUP is well positioned to capture this and continue its recovery.
Trade JUP on Blofin here.
HyperLiquid
Following its sharp rally, Hype has cooled off in recent weeks. However, it has held the $60 region remarkably well, and remains in an interesting spot.
Whilst most crypto assets are struggling, this strength is an outlier. This makes Hype an interesting position for both upside against USDT, but also as a position to hold against a short basket of lesser altcoins which are bound for zero.
Trade HYPE on Blofin here.
Important Dates
Thursday 2 July, 13:30 BST - Nonfarm Payrolls (NFP)
The US Bureau of Labour Statistics releases the NFP. This form of data represents the number of new jobs created in the previous month, which will be December and is another signal of economic health.
The consensus is set at 110,000, with the previous data at 172,000.
Fear And Greed Index
The Fear and Greed Index has dropped further into Extreme Fear, scoring just 11.
This represents the long-term low region that Bitcoin has historically fell within during bear markets and strong pullbacks.
Gainers
Losers
The Japanese Yen Has Hit A 40-Year Low. Here’s Why Bitcoin Investors Should Be Paying Attention
The Japanese yen has fallen to its weakest level since 1986. Discover why the historic move matters for Bitcoin, global markets and cryptocurrency investors.
The Japanese yen has fallen to its weakest level against the U.S. dollar since January 1986, raising fresh concerns across global financial markets and putting cryptocurrency investors on alert.
While many people see the yen as simply another major currency, professional investors know it plays a much bigger role in global finance.
When the yen experiences significant moves, the effects often ripple through stock markets, bond markets and increasingly, the cryptocurrency sector.
As the Bank of Japan maintains a relatively cautious monetary policy while the U.S. Federal Reserve continues to keep interest rates comparatively higher, the gap between the two economies has widened, pushing the yen towards levels not seen in four decades.
Why Is The Yen Falling?
The main driver behind the yen’s decline is the widening difference in interest rates between Japan and the United States.
Higher U.S. interest rates encourage global investors to move money into dollar-denominated assets, while Japan’s slower pace of monetary tightening has reduced demand for the yen.
That imbalance has pushed the exchange rate beyond ¥162 per U.S. dollar, prompting speculation that Japanese authorities could once again intervene in currency markets if weakness continues.
Why Does This Matter For Bitcoin?
Bitcoin no longer trades independently from the global economy.
Institutional investors now manage cryptocurrency alongside equities, bonds and foreign exchange markets, meaning major currency moves can influence broader investor sentiment.
A weaker yen also raises concerns surrounding the so-called “yen carry trade,” where investors borrow cheaply in Japan before investing in higher-yielding assets elsewhere.
If those positions begin unwinding rapidly, liquidity can tighten across global markets, potentially creating additional volatility for risk assets such as Bitcoin.
Markets Are Watching For Government Intervention
Japanese officials have repeatedly stated they are prepared to take decisive action if excessive currency volatility threatens financial stability.
Should authorities decide to intervene in the foreign exchange market, investors could see sharp moves across currencies, equities and digital assets within a very short period.
While intervention can temporarily strengthen the yen, history suggests lasting improvements usually require broader changes in monetary policy.
What Crypto Investors Should Watch Next
Bitcoin investors often focus on ETF inflows, regulation and on-chain data.
However, today’s market is increasingly driven by macroeconomic developments.
Interest rate expectations, central bank decisions, inflation and currency markets are now just as important as cryptocurrency-specific news.
Understanding these wider economic forces could provide investors with an important advantage as institutional participation in digital assets continues to grow.
Final Thoughts
The Japanese yen’s fall to its weakest level in four decades is more than just a currency story.
It highlights how interconnected today’s financial markets have become.
For Bitcoin investors, developments in Tokyo can now have just as much influence as events on Wall Street or within the cryptocurrency industry itself.
As global markets continue adjusting to diverging monetary policies, the relationship between currencies, interest rates and digital assets is likely to become even more important throughout the second half of the year.
Have Bitcoin ETFs Changed The Market? Why Investors Are Questioning One Of Crypto’s Biggest Narratives
Bitcoin ETFs were expected to reduce volatility, but persistent outflows and market weakness have sparked a new debate over whether ETF flows are now one of the most important indicators for crypto investors.
When spot Bitcoin ETFs were approved, many investors believed they would make Bitcoin less volatile by attracting long-term institutional capital. Today, that theory is facing one of its biggest tests yet.
Bitcoin has spent recent weeks under sustained pressure, while several spot Bitcoin ETFs have recorded continued investor outflows. Rather than cushioning the market, some analysts believe ETFs may simply be changing how money moves in and out of Bitcoin during periods of uncertainty.
As institutional participation grows, Bitcoin is increasingly behaving like a traditional financial asset, responding to interest rates, macroeconomic data and investor sentiment just as much as crypto-specific news.
ETF Outflows Are Becoming A Key Market Indicator
For years, Bitcoin investors focused primarily on exchange balances, whale wallets and on-chain activity.
Today, many traders begin each day by checking spot Bitcoin ETF flows.
Large inflows are often viewed as a sign of growing institutional demand, while sustained outflows can suggest that investors are becoming more defensive.
Learn more about Spot Bitcoin ETFs and visit Bitcoin.org to understand the asset that underpins them.
Has Institutional Adoption Changed Bitcoin Forever?
Institutional investors have undoubtedly brought greater legitimacy to Bitcoin.
Asset managers, pension funds and investment firms now have regulated ways to gain exposure through exchange-traded products.
However, institutional capital can also react quickly to changes in interest rates, inflation expectations and wider market sentiment.
That means Bitcoin is becoming increasingly connected to traditional financial markets.
Read more about Institutional Investors and the role of the U.S. Securities and Exchange Commission (SEC) in regulating financial markets.
Why Macro Economics Matters More Than Ever
Recent market moves have highlighted the growing influence of central banks and economic policy.
Interest rate expectations, inflation data and comments from policymakers at the U.S. Federal Reserve are increasingly affecting Bitcoin alongside equities and other risk assets.
For crypto investors, understanding the broader macroeconomic picture has become just as important as following blockchain developments.
What Should Investors Watch Next?
The coming weeks could prove critical for Bitcoin.
Market participants will be watching ETF flow data closely, alongside inflation reports, central bank decisions and overall risk appetite across global markets.
If institutional demand begins to recover, it could provide fresh support for Bitcoin.
However, if outflows continue, investors may remain cautious until confidence returns to the wider financial markets.
You can monitor the Live Bitcoin Price alongside broader market developments.
Final Thoughts
Spot Bitcoin ETFs have transformed how investors access cryptocurrency, but they have also changed the way the market reacts during periods of uncertainty.
Rather than eliminating volatility, ETFs may simply have introduced a new group of participants whose buying and selling decisions are increasingly influenced by the same macroeconomic forces that drive traditional markets.
As Bitcoin continues to mature, understanding ETF flows could become just as important as following the cryptocurrency’s price itself.
Ethereum's Funding Crisis Sparks Debate Over A Potential ‘Staking Tax’
Ethereum is facing a fresh governance debate after former insiders warned of a funding shortfall, leading to proposals that could redirect staking rewards to fund ecosystem development.
Ethereum is once again at the centre of a heated governance debate after former insiders warned that the network could face a growing funding problem in the coming months.
The discussion has sparked one of the most controversial proposals in recent memory: should Ethereum redirect a portion of validator staking rewards to fund development, or should wealthy Ether holders continue to bankroll the ecosystem voluntarily?
The debate has divided the Ethereum community, with critics warning that introducing a protocol-level funding mechanism could fundamentally alter the network's governance structure.
Is Ethereum Running Out Of Money?
The controversy began after former Ethereum Foundation contributor Trenton Van Epps warned that Ethereum's core development ecosystem could face a "slow-burning funding crisis" within three to nine months.
According to Van Epps, maintaining Ethereum's client teams, research groups and coordination efforts costs roughly $30m per year. At the same time, several older funding programmes are beginning to wind down as the Ethereum Foundation reduces spending.
The warning comes during a period of significant change for the Ethereum Foundation, which has spent much of the past year dealing with leadership changes, public criticism and strategic restructuring.
However, many within the ecosystem disagree that Ethereum is facing an existential funding issue.
BitMine chairman Tom Lee rejected the idea entirely, arguing there is "zero chance" of Ethereum running out of funds for protocol development.
The Ethereum Foundation Is Tightening Its Belt
In June 2025, the Ethereum Foundation outlined a new treasury policy that aims to maintain a 2.5-year operating expense buffer while gradually reducing annual spending.
The Foundation pledged to lower spending from approximately 15% of treasury assets annually toward a long-term target of around 5% per year by 2030.
Ethereum co-founder Vitalik Buterin recently confirmed that the Foundation is reducing its budget by roughly 40% in line with this strategy, which has also included significant staff reductions.
While this suggests the Foundation remains financially secure, it also means there is substantially less funding available for research and development than during previous years.
The Proposal Everyone Hates
Kleros co-founder Clément Lesaege believes Ethereum suffers from a coordination problem.
Everyone benefits from the network's shared infrastructure, he argues, but very few participants are willing to pay for its continued development.
His proposed solution is called Validator Redirected Revenue (VRR).
Under the proposal, validators would signal how much of their staking rewards they are willing to redirect toward ecosystem funding, with rates ranging from 0% to 10%.
If a majority of validators voted in favour of a non-zero contribution, the redirect would become mandatory for all validators.
At current staking levels, Lesaege estimates that redirecting between 5% and 10% of staking rewards could generate between 50,000 and 70,000 ETH annually for ecosystem development, equivalent to approximately $82.5m to $115.5m at current prices.
Why The Community Is So Opposed
The proposal has received fierce criticism across the Ethereum ecosystem.
Opponents argue that allowing validators to collectively decide funding rates creates dangerous governance precedents and risks concentrating power among large staking providers.
Critics also worry that it blurs the line between network operators and protocol governance, effectively turning validators into a tax authority.
Staking providers have also warned that redirecting rewards would compress margins and could discourage participation from smaller operators.
Institutional staking firm Figment said the proposal could accelerate validator consolidation toward larger players, reducing network diversity.
Meanwhile, Twinstake co-founder Andrew Gibb argued that lower rewards could push some investors to reduce or entirely exit their staking positions.
Is The Funding Gap Really That Big?
Despite the controversy, some analysts argue that the problem itself is relatively small.
Bitwise researcher Max Shannon noted that if Ethereum's annual funding shortfall is approximately $30m and annual staking rewards total roughly $1.9bn, the gap could theoretically be closed by redirecting just 1.6% of staking rewards.
Economically, this may seem manageable.
Politically, however, many Ethereum participants view any mandatory protocol-level redistribution as a line that should not be crossed.
A New Solution Emerges
As the debate intensified, a new alternative appeared.
Former Ethereum Foundation researchers recently unveiled EthLabs, a new non-profit research and development organisation backed by major Ethereum supporters, including BitMine, SharpLink and ConsenSys founder Joseph Lubin.
Rather than introducing a protocol-level "staking tax," EthLabs seeks to fund development through direct support from large Ethereum-aligned institutions.
The organisation does not replace the Ethereum Foundation but instead complements it by creating another avenue for ecosystem funding.
Its emergence has already shifted the debate from whether Ethereum should tax itself to whether it needs to at all.
What Happens Next?
Ethereum's latest governance debate highlights one of the network's biggest long-term challenges: how to sustainably fund public goods without compromising decentralisation.
The Ethereum Foundation appears financially secure for the foreseeable future, but its reduced spending has exposed broader questions around who should pay for maintaining one of the world's largest blockchain ecosystems.
Whether validator-funded development ever gains support remains uncertain.
For now, EthLabs may have provided Ethereum with a more politically acceptable path forward.
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