A Week of Conflict, More Bitcoin Treasury Companies & Uncertainty

Hi Reader,

Thanks for reading The BlockByte Weekly, where we summarise the key updates in crypto over the last week and provide our perspective on what you need to know as an investor.​
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Weekly Market Snapshot

• BTC: $105,575 (~A$162,827) (+0.6%)
• Crypto Market Cap: $3.34T (+0.2%)
• Gold: $3,433/oz (+1.4%)
• S&P 500: 5,976 (-1.1%)
• ASX 200: 8,547 (-0.2%)
• 10-Year Treasury Yield: 4.4% (+1.0%)

Executive Summary

Bitcoin proved resilient, rebounding to US $106,000 after dipping to US $102,600 amid Israel-Iran tensions, while altcoins like Ether (-6%) and Avalanche (-8%) fell harder. A pending US-China trade deal and lower-than-expected 2.4% US CPI bolstered optimism, reducing market uncertainty and supporting rate cut expectations. Ukraine and Brazil introduced bills to include Bitcoin in national reserves signalling Bitcoin's growing legitimacy, and driving long-term price potential. Circle’s 167% post-IPO surge to a US $25.8 billion valuation reflects stablecoin adoption, with Amazon and Walmart eyeing the sector. Corporate Bitcoin buying continued this week, with 126 firms holding 820,000 BTC, led by Strategy (US $110 million), Meliuz (US $32.39 million), and ProCapBTC’s proposed US $750 million raise to buy Bitcoin.

Market Update

Israel-Iran Tensions Send Prices Lower, Bitcoin Proves Resilient

Bitcoin slumped to US $102,600 amidst escalating Israel-Iran tensions, Israeli airstrikes targeting Iran sparked a near-term sell off in markets. The broader altcoin market fell further, Ether (-6%), Avalanche (-8%), and Toncoin (-7%) smongst those hit hardest. Despite this, Bitcoin rebounded to US $106,000, remaining 6% below its all-time high. Crypto stocks like MARA Holdings (-5%) and Riot Platforms (-4%) also dipped, though Circle, a newly listed stablecoin issuer bucked the trend, rising 13% on stablecoin momentum.

Our take: Bitcoin’s swift recovery highlights its growing status as a resilient asset amid geopolitical uncertainty. Analysts like John Glover from Ledn suggest a potential dip to US $88,000–US $93,000, which could offer a buying opportunity before a rally towards US $130,000. We remain cautiously optimistic but advise monitoring support levels around US $100,000–US $101,000. Typically when conflicts break out, market dips have been quickly followed by rapid gains and eventually a move higher.

US-China Trade Deal & Lower Inflation Boosts Bitcoin Optimism

A US-China trade deal, described as “done, subject to final approval” by President Donald Trump and President Xi, allows the US to impose 55% tariffs on Chinese goods in exchange for a 10% tariff on US goods. US CPI data also reported a lower-than-expected 2.4% year-over-year rate (core CPI at 2.8%), easing inflation fears. Trump pushed for a 1% interest rate cut, though Federal Reserve Chairman Jerome Powell has resisted immediate action.

Our take: This trade deal, if finalised, reduces global market uncertainty, a tailwind for risk assets like Bitcoin. Lower inflation supports expectations of looser monetary policy, potentially boosting crypto prices. However, we’re cautious until final terms are confirmed, given the deal’s asymmetry favouring the US.

Ukraine and Brazil Eye Bitcoin Reserves - El Salvador Over US $654 Million in Profit

Ukraine’s bill 13356 proposes allowing the National Bank of Ukraine to hold Bitcoin alongside gold and foreign currencies, leveraging its existing 46,351 BTC (US $4.8 billion). In addition, Brazil’s Senate advanced Bill PL 4501/2024 on June 12, 2025, enabling the Central Bank to allocate up to 5% of its US $370 billion reserves (US $18.5 billion) to Bitcoin, establishing a Strategic Sovereign Bitcoin Reserve (RESBit). This positions Brazil as the first G20 nation to codify Bitcoin as a reserve asset, potentially setting a global precedent.

Our take: These moves signal Bitcoin’s growing legitimacy as a reserve asset, especially for nations navigating sanctions or economic instability. Ukraine’s and Brazil’s adoption could inspire other countries, following El Salvador, reinforcing Bitcoin’s role as decentralised capital and potentially driving long-term price growth.

@BitcoinBayern01

🇸🇻💰 EL SALVADOR HAS INCREASED ITS HOLDINGS BY 9 $BTC IN THE LAST 7 DAYS.CURRENT BTC HOLDINGS REACHED 6207.18, TOTALING $654 MILLION.🟢

11:42 PM • Jun 14, 2025

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Bitcoin Treasury Buying Accelerates

Bitcoin buying is a growing corporate treasury strategy, with 126 public companies holding 820,000 BTC, per BitcoinTreasuries.net. Key moves include Strategy’s US $110 million purchase, ANAP’s plan for 1,000 BTC (US $110 million) by August 2025, Trump Media Group’s US $2.5 billion raise, Meliuz’s US $32.39 million share offering, and Anthony Pompliano’s ProCapBTC aiming for US $750 million via a SPAC merger. Standard Chartered notes US $11.3 billion committed since April.

Our take: We've been saying for months that it's companies that are driving Bitcoin's rally this cycle - not retail investors. This global Bitcoin accumulation, led by firms like Meliuz and ProCapBTC, drives adoption not just in treasuries but also in the eventual rollouts of Bitcoin linked day-to-day products like Coinbase's Bitcoin rewards credit card.

In spite of the near-term uncertainty and conflict, from what we see on the fundamentals of adoption and buying, the future looks bright, bright orange.

Until next week,
James

James Brannan
Managing Director
BlockByte
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(+61) 412 393 634
​james@blockbyte.com.au​
​https://blockbyte.com.au/​

BlockByte does not provide financial advice. We provide a personalised brokerage service with tailored support, research and secure custody for investing in digital assets. Reach out to our team to discuss how we can help.

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