According to analyst @cas_abbe, the cryptocurrency market has now entered 'Phase 2', a period characterized by Ethereum (ETH) outperforming Bitcoin (BTC) and a corresponding decrease in Bitcoin dominance. The analyst projects that if this trend of ETH outperformance continues for another one to two weeks, the market will transition into 'Phase 3'. This next phase is expected to trigger a parabolic rally in large-cap altcoins as ETH maintains its strength against BTC, signaling a potential shift in capital flow for traders.

According to @cas_abbe, BlackRock is rapidly accumulating significant amounts of cryptocurrency, purchasing $416.5 million worth of Bitcoin (BTC) and $171.5 million in Ethereum (ETH) in a single day. The source indicates this large-scale buying activity provided crucial support for BTC's price, helping it withstand selling pressure from long-term holders or 'OG whales'. Concurrently, the substantial investment in ETH contributed to a pump in its market price.

According to Cas Abbé, the US Consumer Price Index (CPI) data is scheduled for release today at 8:30 AM ET, with market expectations at 2.7% year-over-year. The analysis highlights that the Truflation Inflation Index is already indicating a significant drop in inflation, suggesting the official CPI figure could also come in lower. From a trading perspective, altcoins are reportedly showing signs of strength, and a lower-than-expected CPI number could act as a powerful catalyst to 'supercharge' their upward momentum.

According to @cas_abbe, on-chain data reveals a significant shift in the behavior of large Bitcoin (BTC) holders. A heatmap analyzing wallet sizes shows that wallets holding over 1,000 BTC, commonly known as whales, have transitioned from a months-long distribution phase (selling) back into an accumulation phase (buying). This change is a crucial indicator for traders, as the renewed buying pressure from these influential market participants could signal a bullish sentiment shift and potentially lead to reduced selling pressure and upward price movement.

According to @cas_abbe, despite significant Bitcoin (BTC) purchases from entities like MicroStrategy (MSTR) and inflows into spot BTC ETFs, the price remains in a consolidation phase. A new report from CryptoQuant highlights that this institutional activity is insufficient to counteract a broader decline in spot demand for BTC. CryptoQuant's analysis indicates a net demand contraction of 895,000 BTC over the last 30 days. The report also shows a slowdown in institutional buying, with ETFs purchasing 40,000 BTC and MSTR acquiring 16,000 BTC in the last month, a significant drop from previous periods. This weak demand is further evidenced by a nearly empty BTC mempool, signaling low retail interest. SkyBridge Capital's Anthony Scaramucci also commented that the trend of companies adopting a BTC treasury strategy will likely fade, as stated in a Bloomberg interview. While Bitcoin consolidates above $108,500, Standard Chartered maintains its bullish $200,000 price target.

According to @cas_abbe, major cryptocurrencies including Bitcoin (BTC), XRP, and Dogecoin (DOGE) experienced a rally following positive remarks from U.S. Treasury Secretary Scott Bessent. Bessent indicated in a CNN interview that several trade deals are close to being finalized before the critical July 9 tariff deadline, as reported by Reuters. This news spurred Bitcoin to briefly surpass $109,000 with a 1% gain, while XRP and Solana (SOL) each rose over 2%, and Dogecoin (DOGE) saw a 3% increase, according to the source article. Traders are closely watching this macroeconomic development, as the failure to secure deals by July 9 could lead to the reinstatement of higher tariffs on August 1, a scenario that previously caused a sharp market downturn with BTC falling to $75,000 on April 2.

According to @cas_abbe, MicroStrategy (MSTR), the largest publicly traded corporate holder of Bitcoin, has increased its reserves by purchasing an additional 4,980 BTC for $531.9 million. This transaction brings the company's total holdings to 597,235 BTC, acquired for a total of $42.4 billion at an average price of $70,982 per coin. The source states that at a Bitcoin price of approximately $107,500, this holding is valued at over $64 billion. The acquisition was financed through the sale of $519 million in common shares and approximately $59 million in preferred stock. Following the news, MSTR shares saw a 1.3% increase in premarket trading, signaling positive investor reaction and reinforcing the company's bullish stance on Bitcoin as a primary treasury reserve asset.

According to @cas_abbe, Bitcoin (BTC) has been confined within a narrow ten percent trading channel for 40 consecutive days, a near-record period of low volatility. This range-bound activity is supported by a "muddled" macroeconomic picture with unclear signals on interest rates and inflation, as noted in the analysis. While this stability bolsters Bitcoin's store-of-value thesis, it is negatively impacting traders, with thirty-day realized volatility dropping below 30% and crimping opportunities. The source also highlights that this stalled momentum is hurting the broader altcoin market, causing the CoinDesk 20 Index to trail Bitcoin by approximately 5% over the past month and stalling Ethereum's (ETH) recent rally. This prolonged consolidation is reportedly fostering complacency, which could make the eventual price breakout more significant.

According to @cas_abbe, major cryptocurrencies experienced a wave of profit-taking, with XRP dropping over 4% and Solana (SOL) sliding 3% to retest the $140 support level. This pullback occurred despite a generally positive week driven by cooling inflation indicators and diminishing geopolitical risks. Analysts remain bullish, with Jeff Mei of BTSE stating that conditions are ripe for Bitcoin (BTC) to surpass its previous all-time high, citing the de-escalation of the Iran-Israel conflict. The market is now focused on the upcoming U.S. Federal Reserve meeting, where analysts like Augustine Fan of SignalPlus anticipate a potential dovish pivot. Despite BTC trading sideways around $107,000 after a $1.2 billion futures liquidation, institutional sentiment remains strong, evidenced by $1.4 billion in net inflows to BTC ETFs last week, a trend Eugene Cheung of OSL notes as a key indicator of growing participation.

According to @cas_abbe, Elon Musk has stated on X that his planned pro-tech political party, the 'America Party,' will embrace Bitcoin (BTC), calling traditional fiat currency 'hopeless.' This potential political endorsement from a major public figure could be a significant long-term bullish catalyst for BTC, suggesting a path toward greater political and institutional adoption in the U.S. Musk's companies, Tesla and SpaceX, already hold BTC in their corporate treasuries, reinforcing his pro-crypto stance. The news emerges as Bitcoin (BTC) trades around $109,500, up over 1.3% in the last 24 hours, with the development potentially adding to positive market sentiment.

According to @cas_abbe, major cryptocurrencies including Bitcoin (BTC), XRP, and Dogecoin (DOGE) experienced a significant rally following comments from U.S. Treasury Secretary Scott Bessent. Bessent hinted at the finalization of several trade deals before the July 9 tariff deadline, easing investor concerns about a potential trade war escalation. This positive macroeconomic signal pushed BTC's price briefly above $109,000, a level supported by current BTC/USDT data showing a 24-hour high of $109,076.98. The report notes that other major altcoins also saw gains, with XRP and Solana (SOL) rising over 2%, and Dogecoin (DOGE) up by 3%. This market movement contrasts sharply with the sell-off on April 2, when the initial tariff announcement caused BTC to fall to $75,000, highlighting the crypto market's sensitivity to US trade policy.

According to @cas_abbe, two Bitcoin (BTC) wallets that had been dormant for 14 years have moved 20,000 BTC, valued at over $2 billion. Blockchain data from Lookonchain confirms these wallets acquired the BTC on April 3, 2011, when the price was approximately $0.78. This on-chain activity has generated significant buzz among traders, raising concerns about potential sell-offs and increased price volatility, especially as BTC trades around $108,828. However, the transfer was made to new, non-exchange addresses, which means an imminent sale is not confirmed. Traders should monitor these wallets for any further movements to gauge potential market impact.

According to @cas_abbe, Ethereum (ETH) is defending the $2,500 support level, with its price action forming a consolidation pattern between $2,500 and $2,540. The source indicates that decreasing volume within this range suggests accumulation by traders. A key bullish indicator on the horizon is a potential 'golden cross,' where the 50-day moving average crosses above the 200-day moving average, a signal that has historically preceded significant upward trends. ETH remains below the critical $2,800 resistance level. The analysis also points to a V-shaped recovery pattern on the hourly chart, establishing short-term support at the $2,503-$2,504 zone. Furthermore, record staking activity, with over 35 million ETH locked, may reduce the circulating supply and support the price.

According to @cas_abbe, Toncoin (TON) is displaying strong bullish momentum, forming a clear short-term uptrend pattern supported by significant trading volume. The technical analysis highlights the establishment of higher lows at $2.80, $2.81, and $2.83, which confirmed the uptrend's structure. A key resistance level at $2.85 was broken on exceptional volume, with peak volume exceeding 69,000 units, indicating strong buying pressure. Further analysis reveals TON established a solid support zone between $2.94 and $2.96 before executing a decisive breakout above the $3.00 milestone. This upward move was supported by substantial trading volume, including spikes of 1.87 million and 1.54 million units. Despite a sharp pullback to $2.98, buyers quickly re-entered the market, establishing a new support base between $3.00 and $3.01 and reinforcing the strength of the current uptrend.

According to @cas_abbe, Binance Coin (BNB) has demonstrated significant strength, climbing to a high of $658 despite broader market volatility from geopolitical tensions. This price resilience is underpinned by a massive surge in on-chain activity, with the BNB Chain recording over 16 million daily transactions, a substantial increase from the 4 million earlier in the year, as reported by Nansen data. Furthermore, data from DeFiLlama shows that BNB Smart Chain's decentralized exchange (DEX) volume exceeded $104 billion over the past month, surpassing both Ethereum and Solana. PancakeSwap alone contributed $2.7 billion in daily volume. Technical analysis models indicate a developing uptrend for BNB, marked by a series of higher lows and consistently above-average trading volumes, suggesting potential institutional interest. However, a 6.9% week-over-week drop in open interest for BNB derivatives to $750 million signals some caution among futures traders.

According to @cas_abbe, a report from Coinbase Research outlines a constructive outlook for the cryptocurrency market in the second half of 2025, with Bitcoin (BTC) expected to lead a rally. The positive forecast is based on several key factors, including a stronger U.S. economic backdrop, as indicated by the Atlanta Fed’s GDPNow tracker jumping to 3.8% QoQ. Further support is expected from potential Federal Reserve rate cuts, growing corporate adoption of digital assets facilitated by new mark-to-market accounting rules, and significant progress in regulatory clarity. The report highlights the GENIUS Act for stablecoins and the CLARITY Act, which aims to define the roles of the SEC and CFTC. Additionally, with over 80 crypto ETF applications under SEC consideration, potential approvals could provide major catalysts. While Bitcoin (BTC) appears set to benefit from these macro and structural tailwinds, the report suggests altcoins may lag unless driven by specific developments like individual ETF approvals.

According to @cas_abbe, Bitcoin's (BTC) declining volatility, despite reaching new all-time highs, presents a unique trading opportunity. A recent note from NYDIG Research highlights that this "summer lull" has made both call and put options "relatively inexpensive." This creates a cost-effective chance for traders to position for directional moves ahead of key market catalysts. While BTC holds firm above $107,000, the broader market shows signs of fatigue. Major altcoins including Dogecoin (DOGE), Solana (SOL), and Cardano (ADA) have experienced profit-taking, with losses ranging from 3-5%. Ether (ETH) is also cooling after recently outperforming. Despite this, the overall market sentiment remains constructive. Augustine Fan of SignalPlus points to successful IPOs and corporate BTC treasury strategies as positive structural shifts. Furthermore, Jeffrey Ding of HashKey Group and Thomas Perfumo of Kraken note that improving macroeconomic conditions, such as softer inflation and progress in U.S.-China trade talks, alongside strong institutional adoption via spot ETFs, are creating a favorable long-term outlook for digital assets.

According to @cas_abbe, while some Bitcoin (BTC) long-term holders (LTHs) have been taking profits, on-chain data suggests a broader trend of patience and conviction. Glassnode data reveals that 45% of Bitcoin's circulating supply has not moved in at least three years, a level consistent since February 2024. This holding behavior persists from a time when BTC was priced around $20,000 during the 2022 leverage crisis, indicating strong belief among these investors. Furthermore, the share of supply dormant for five or more years has held steady at 30% since May 2024, as reported by Glassnode. For traders, this stability in aggregate LTH behavior suggests that many are anticipating higher prices before selling, potentially limiting future supply shocks and supporting a bullish long-term outlook.

According to @cas_abbe, Bitcoin (BTC) is demonstrating resilience by holding above $105,000 after a brief dip below $104,000 caused by geopolitical tensions. The article highlights that the $104,000–$105,000 range has become a significant support zone, with high-volume buying observed during the downturn. Technical analysis cited in the text suggests that consolidation above $105,470 could lead to further upside toward $106,000. Separately, Jeff Park of Bitwise Asset Management noted a cultural shift where younger investors increasingly aspire to become 'wholecoiners'—owning at least one full Bitcoin—viewing it as a new symbol of financial independence and long-term security, which provides a strong long-term conviction for the asset.

According to @cas_abbe, publicly traded companies have acquired more Bitcoin (BTC) than U.S. ETFs for the third quarter in a row, a key trend for traders monitoring institutional flows. Citing figures from Bitcoin Treasuries.net, corporations increased their BTC holdings by approximately 131,000 BTC, an 18% rise, in the quarter ending June 30. In contrast, ETFs saw an 8% growth, adding about 111,000 BTC during the same period. While ETFs still hold a larger overall stash of over 1.4 million BTC, this sustained corporate buying pressure signals strong institutional conviction in Bitcoin as a long-term asset. This trend of corporate accumulation could act as a significant bullish catalyst for BTC's price, which currently trades around $108,097.70, by creating a potential supply squeeze.