Global cryptocurrency markets advanced modestly amid ongoing geopolitical developments and major regulatory changes in key economies. Bitcoin maintained levels near $65,000 while broader digital asset values rose, reflecting a balance between risk premiums from Middle East conflicts and positive policy signals from Japan.
The total cryptocurrency market capitalization reached $2.25 trillion, an increase of 2.09 percent in the past 24 hours. Bitcoin traded in a range between $62,534 and $65,277 before settling at $65,010, up 2.05 percent. Major cryptocurrencies showed mixed performance, with notable gains in select tokens such as PORTO, DODO and KAITO. Short liquidations dominated trading activity, contributing to price resilience.
In Japan, parliament approved legislation reclassifying cryptocurrencies as financial instruments. The changes, effective in 2027 with a 20 percent flat capital gains tax rate starting in 2028, replace the previous treatment under payment services rules that imposed rates up to 55 percent. The framework paves the way for spot Bitcoin exchange-traded funds and introduces stricter enforcement, including prison terms of up to 10 years for unregistered operators.
China reported second-quarter gross domestic product growth of 4.3 percent, below forecasts and the weakest pace since late 2022. The figure fell short of the government's full-year target range. Urban fixed-asset investment declined more than expected, led by an 18 percent drop in real estate spending. Retail sales and industrial output showed some improvement in June. Analysts anticipate additional stimulus measures in coming months.
U.S. President Donald Trump convened a Situation Room meeting to consider expanding military operations against Iran beyond current strikes near the Strait of Hormuz. He indicated potential further targets unless negotiations advance. The U.S. maintained a naval blockade and conducted additional strikes while coordinating safe passage for commercial vessels. Trump withdrew a proposed 20 percent cargo fee on strait traffic shortly after announcement following objections from Gulf allies.
The combination of macroeconomic data, regulatory progress in Asia and persistent geopolitical risks has kept cryptocurrency prices within recent ranges. Options positioning suggested measured optimism among traders despite volatility.
The total cryptocurrency market capitalization reached $2.25 trillion, an increase of 2.09 percent in the past 24 hours. Bitcoin traded in a range between $62,534 and $65,277 before settling at $65,010, up 2.05 percent. Major cryptocurrencies showed mixed performance, with notable gains in select tokens such as PORTO, DODO and KAITO. Short liquidations dominated trading activity, contributing to price resilience.
In Japan, parliament approved legislation reclassifying cryptocurrencies as financial instruments. The changes, effective in 2027 with a 20 percent flat capital gains tax rate starting in 2028, replace the previous treatment under payment services rules that imposed rates up to 55 percent. The framework paves the way for spot Bitcoin exchange-traded funds and introduces stricter enforcement, including prison terms of up to 10 years for unregistered operators.
China reported second-quarter gross domestic product growth of 4.3 percent, below forecasts and the weakest pace since late 2022. The figure fell short of the government's full-year target range. Urban fixed-asset investment declined more than expected, led by an 18 percent drop in real estate spending. Retail sales and industrial output showed some improvement in June. Analysts anticipate additional stimulus measures in coming months.
U.S. President Donald Trump convened a Situation Room meeting to consider expanding military operations against Iran beyond current strikes near the Strait of Hormuz. He indicated potential further targets unless negotiations advance. The U.S. maintained a naval blockade and conducted additional strikes while coordinating safe passage for commercial vessels. Trump withdrew a proposed 20 percent cargo fee on strait traffic shortly after announcement following objections from Gulf allies.
The combination of macroeconomic data, regulatory progress in Asia and persistent geopolitical risks has kept cryptocurrency prices within recent ranges. Options positioning suggested measured optimism among traders despite volatility.