Bitget Daily Digest (6.30)｜U.S. Senate Debates “Big and Beautiful” Act, BlackRock Increases BTC Holdings for 9 Consecutive Weeks; Solana Staking ETF Rumored to Launch

远山洞见2025/06/30 02:30

By:远山洞见

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Bitget Daily Digest (6.30)｜U.S. Senate Debates “Big and Beautiful” Act, BlackRock Increases BTC Holdings for 9 Consecutive Weeks; Solana Staking ETF Rumored to Launch image 0

Today’s Preview

U.S. June Chicago PMI will be released today (previous: 40.5)
2027 FOMC voter and Atlanta Fed President Bostic gives speech on the U.S. economic outlook
Singapore MAS: Unlicensed crypto service providers must stop serving overseas clients by June 30
BNB Chain’s 0 Gas Fee stablecoin transfer campaign ends today
Across Protocol (ACX) to unlock about 100 million tokens, representing 22.61% of circulating supply
Kamino (KMNO) to unlock around 229 million tokens, 10.44% of circulating supply
Optimism (OP) unlocks approximately 31.34 million tokens, 0.67% of circulating supply

Macro & Hot Topics

U.S. Senate passes procedural motion advancing the “Big and Beautiful” Act. The Senate voted 51–49 to pass a procedural motion advancing what President Trump calls the “Big and Beautiful” tax and spending bill. With this motion passed, the likelihood of the bill passing in coming days increases. The bill, which totals over 1,000 pages, focuses on extending Trump-era tax cuts, providing new tax breaks for tips and auto loans, increasing defense spending, and allocating more funds for combating illegal immigration. The target is to enact the bill by July 4.
BlackRock increases its Bitcoin holdings for nine consecutive weeks, totaling about 107,139 BTC. Its Bitcoin ETF IBIT has increased BTC allocations every week, including 12,355 this week and sustained accumulations through the past two months.
REX Shares says its Solana staking ETF “REX-Osprey SOL+Staking ETF” is coming soon. This ETF will reportedly track Solana’s performance and generate yield via on-chain staking, marking the first U.S. crypto staking ETF. Bloomberg analyst Eric Balchunas said the SEC seems ready, as there are no further comments after the REX and Osprey dual application.
U.S. CBO: Senate “Big and Beautiful” bill will add $3.3 trillion to debt. The Senate’s version will add $800B more than the House version, raising total federal debt to $36.2 trillion over the next decade.

Market Overview

1. BTC remains rangebound with mixed performance; 226M in 24h liquidations, mainly longs; platform tokens like $TAG and $MINT rose, Memecoin $BANANAS31 dropped 50%+, $KAS and $AB were top ten in spot volume.

2. S&P 500 and Nasdaq hit record highs last Friday, EU stocks rose; Canadian dollar slumped 0.9%; gold futures briefly fell below $3,250/ounce early Monday in Asia.

Bitget Daily Digest (6.30)｜U.S. Senate Debates “Big and Beautiful” Act, BlackRock Increases BTC Holdings for 9 Consecutive Weeks; Solana Staking ETF Rumored to Launch image 1

3. Bitget BTC/USDT liquidation map: At $108,350, a 2,000-point drop to $106,350 would trigger $430M in long liquidations; a move to $110,350 would trigger $670M in shorts—short-side risk remains much higher; manage leverage prudently.

4. In the last 24 hours, BTC spot inflows totalled $940M, outflows $830M—net outflow $110M.

5. Over the past 24h, contracts on $APT, $MOODENG, $ENA, $WLD, $APE led net outflows—there may be opportunities.

Institutional Views

10x Resear ch: Despite strong upward momentum for Coinbase shares, the stock is overvalued.

Original: https://x.com/10x_Research/status/1939095196681281874

ARK Invest: New U.S. mortgage rules may “significantly” boost crypto.

Original: https://x.com/Cointelegraph/status/1939036132227830265

News Updates

Trump on tariff extension: “I don’t think an extension is necessary, but it could be extended.”
U.S. Senate passes procedural motion to advance “Big and Beautiful” Act.
Hong Kong Financial Secretary: Stablecoins have the potential to transform payments and capital markets.
BIS: Trump's criticism does not threaten Fed independence.

Project Developments

Michael Saylor releases new Bitcoin tracker info, may disclose more purchases this week.
JUST DAO: JustLend USDJ collateralization ratio to fall from 75% to 0%, reserve ratio raised from 5% to 100%.
USD1 daily trading volume hits record $1.25B in the past 24 hours.
NFT trading volume rose 8.17% week-on-week to $125.1M, including a 31.77% rise on Ethereum.
REX Shares: Solana staking ETF launch imminent.
Geth client’s new version supports PBSS archive nodes, slashing storage needed.
Data: BlackRock added about 107,139 BTC over nine consecutive weeks.
DeFi: High-risk lending fell sharply, LRTs on ETH continue net outflows.
Lido DAO votes in dual-governance structure, giving stakers veto/delay rights.
Polymath acquires Polymesh Association, moves towards becoming a listed entity.

X Highlights

1. Feng wuxiang: Why is Hype the DEX “ceiling” project?

Looking back at Hyperliquid’s TGE (Nov 29, 2023): TVL $600M+, $150B+ in trades in a single month ($5B+ daily), and over 200,000 real users—with $180M net inflow on day one and continued token gains. These metrics created a $3B–$4B launch cap. By comparison, Aster (even with token incentives and CeFi yields) only has $34B monthly volume and $300M TVL—a $500M valuation ceiling—since “Smart Money” has the true buying power, and retail only FOMOs at highs. In perp DEXs, only those with explosive traffic, real users, and sustained high volume can repeat Hype’s miracle. Not all-in at TGE—a regret, but now long past.

Original: https://x.com/0x0xFeng/status/1939274710212022695

2. Phyrex: How the “Big and Beautiful” Act affects the industry and market liquidity

The Act finally squeezes through—despite heavy debate (GOP: deficit fears, Democrats: opposing welfare cuts), this round of expansion and tax tweaks are a US de-globalization move, reshaping global capital flows. No immediate crypto boost, but new remittance tax policy should boost stablecoin demand and tangibly improve liquidity. Weekend market was extremely thin, BTC moved only ~20,000 coins on-chain, most holders not interested in trading. Support and resistance unchanged. Next week, focus is on US unemployment data and tariff/monetary policy; Friday’s a holiday—so only four effective trading days, with cautious sentiment.

Original: https://x.com/Phyrex_Ni/status/1939386626003837077

3. Bugsbunny: Altcoin system collapse and rebuild: the new order after VC malfunction

The altcoin industry is being fundamentally reshaped: VC valuation frameworks are breaking down, many funds are liquidating or only back close connections, and “story-driven” funding is vanishing. Listing costs are high; without real users and liquidity, projects simply die. In future, only true top-tier projects with real traffic, revenue, and critical ecosystem placement will survive—tech/fame alone isn’t enough. VC investing will be much more cautious, backing projects with resource control, sustainable income, actual innovation, and direct exchange access. Easy mode is over; it’s a pro players’ game now—altcoin value investing is extremely risky: adapt fast, play dynamically, that’s the only way to thrive.

Original: https://x.com/octopusycc/status/1939341430134391010

4. Biupa-TZC: Bitcoin’s trading range: resistance test brings pullback window

The up-then-down BTC script is likely: main resistances are at 109K, 110,500, and 112,000. If shorting, use these as reference for stops. The recent rise above 105K looks like a correction, not a new breakout—any new high may be fake; another pullback to test 104K POC is likely. Closed all shorts the day before yesterday. Longed during the rise, trimmed around 109K. ETH focus: 2,480–2,500; SOL is at key resistance. Range and positioning matter more than direction at present.

Original: https://x.com/biupa/status/1939302655920328746

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Deutsche Bank has downgraded its rating on US technology stocks from overweight to neutral, noting that the fifth round of tech stock rally since July 29 is approaching the upper boundary of the long-term trend channel. The current upside potential is only about 4 percentage points, while historical trends indicate downside risks could reach 16 percentage points. Funds are expected to rotate into other sectors, and the European market, with its lower tech exposure, is likely to benefit relatively. However, Deutsche Bank emphasized that the long-term outperformance trend of technology stocks remains unchanged.

华尔街见闻•2026/10/11 04:01

How expensive is AI computing power rental in the US? "Spot price" is twice that of long-term contracts, and four times the return threshold for cloud service providers.

The short-term spot leasing price for AI computing power reaches as high as $40 to $50 billion per gigawatt per year, while the price for long-term contracts is only $20 billion per year, and the breakeven threshold for supercomputing cloud operators is around $12 billion per year. However, according to Goldman Sachs, the fundamental reason why hyperscale cloud providers like Google rent computing power at such significant premiums is that their in-house capacity cannot keep up; once their own capacity catches up, the spot premium will disappear.

华尔街见闻•2026/10/11 03:41