Key takeaways

• Hyperliquid (HYPE) has fallen for four straight days as retail demand weakens amid broader crypto market uncertainty.
• Futures open interest and trading volume have declined, signaling lower speculative activity.
• Institutional interest remains strong, with HYPE ETFs attracting $16.08 million in weekly inflows.

Hyperliquid (HYPE) remains under pressure for the fourth consecutive trading session as retail traders reduce exposure amid growing geopolitical uncertainty and a broader risk-off mood across the cryptocurrency market.

While short-term sentiment has cooled, institutional investors continue to accumulate exposure, and activity within Hyperliquid’s Real World Asset (RWA) ecosystem remains robust. These factors continue to support the token’s longer-term bullish outlook.

Technical indicators also suggest that a decisive breakout above the $75-$77 resistance area could reignite buying momentum and potentially push HYPE toward the psychological $100 level.

Retail traders step back as market sentiment weakens

Retail participation in Hyperliquid has softened as investors become increasingly cautious amid renewed tensions in the Middle East, which have dampened appetite for risk assets.

According to CoinGlass data, HYPE futures open interest declined to $2.68 billion, indicating a modest reduction in leveraged positions. 

Meanwhile, derivatives trading volume dropped 29% over the past 24 hours to $1.99 billion, highlighting weaker short-term market participation.

Despite the slowdown, bullish positioning has not disappeared entirely. The funding rate eased slightly to 0.0065% from 0.0078% a day earlier, remaining in positive territory. 

Positive funding rates generally indicate that long-position holders are still willing to pay a premium, suggesting optimism persists despite the recent pullback.

Overall, derivatives data points to a cautious market where traders are waiting for greater clarity before making aggressive directional bets.

While retail demand has cooled, institutional investors continue to show confidence in Hyperliquid.

HYPE-focused exchange-traded funds (ETFs) attracted $3.33 million in fresh inflows on Wednesday, bringing total weekly inflows to $16.08 million. 

The steady capital inflows suggest larger investors remain optimistic about the project’s long-term growth prospects.

At the same time, Hyperliquid’s HIP-3 ecosystem—which supports perpetual contracts tied to tokenized Real World Assets (RWAs)—continues to gain momentum.

Open interest across HIP-3 products climbed to $3.10 billion, while trading volume increased 40% over the past 24 hours and 28% over the past month. 

Revenue has also remained stable at roughly $10 million over the past four weeks, reflecting sustained user activity and growing demand for RWA-based trading products.

These metrics reinforce the view that institutional adoption and expanding utility remain key drivers behind Hyperliquid’s long-term bullish narrative.

Technical analysis: $75-$77 remains the key breakout zone

From a technical standpoint, Hyperliquid is undergoing a healthy correction while preserving its broader uptrend.

The token is approaching a rising support trendline near $66.54, an area that continues to underpin the current market structure. 

More importantly, HYPE remains comfortably above both its 50-day Exponential Moving Average (EMA) at $62.53 and the 200-day Exponential Moving Average (EMA) at $48.33.

Holding above these major moving averages indicates that buyers still maintain control of the longer-term trend.

The primary resistance lies between $75.76—the June 1 swing high—and the R1 Pivot level at $77.09. Together, these levels form the upper boundary of an ascending triangle, a chart pattern that often precedes bullish breakouts.

A successful move above this resistance zone could open the door to the next upside targets: R2 Pivot at $89.14, and the R3 Pivot: $101.35

If bullish momentum accelerates, the psychological $100 level could become a realistic near-term objective.

Technical momentum indicators continue to favor the bulls despite the recent correction. The Moving Average Convergence Divergence (MACD) remains above its signal line, indicating that bullish momentum has not been fully lost.

Meanwhile, the Relative Strength Index (RSI) sits around 42, just below the neutral zone. This suggests there is still room for additional upside if buying pressure returns.

Together, these indicators reflect neutral-to-positive momentum rather than a shift toward a bearish trend.

Although the broader outlook remains constructive, traders should monitor downside support levels closely.

If HYPE loses the 50-day EMA at $62.53, sellers could push prices toward the S1 Pivot level at $52.83.

A deeper correction could eventually test the 200-day EMA at $48.33, which continues to represent the foundation of Hyperliquid’s longer-term bullish market structure.

As long as HYPE remains above these critical support levels, the broader uptrend remains intact despite ongoing short-term volatility.

Singapore’s state-owned investment firm, Temasek Holdings, said it will prioritize AI investments over crypto due to regulatory uncertainty and the lingering impact of a $275 million write-off from the collapse of crypto exchange FTX in 2022.

The firm, with an investment portfolio valued around 518 billion Singapore dollars ($400 billion), plans to increase its AI exposure from 6% of its portfolio in the first quarter of 2026 to 15% by 2031, Nagi Hamiyeh, president of Temasek Global Investments, told CNBC on Wednesday The AI investment cycle has just begun and will continue for decades, he said, while cautioning that valuations in some parts of the industry have run ahead of fundamentals.

Temasek, the state’s largest investment vehicle after GIC Private Ltd., is still dealing with the hit it took following the collapse of FTX. That implosion and other failures exposed weak consumer protections in Singapore, prompting the central bank, the Monetary Authority (MAS), to swing toward stricter supervision, a move that resulted in higher compliance costs and slower licensing, among other challenges.

Brazil’s B3 stock exchange has unveiled options on bitcoin BTC$62,578.75, ether (ETH) and solana (SOL) futures, expanding its regulated crypto derivatives offerings.

The contracts bec+ame available for trading on July 6, according to a B3 circular. They include call and put options on bitcoin futures denominated in Brazilian reais, while ether and solana futures are denominated in U.S. dollars.

The options settle into the underlying futures contracts, not the tokens themselves. B3 said the products do not involve custody, transfer or administration of spot cryptoassets.

The contracts trade independently from 9 a.m. to 6:30 p.m. local time, according to B3’s derivatives trading schedule. Exercise is automatic at expiration when the option finishes in the money, unless the holder blocks exercise.

The offering gives traders and asset managers a local venue to hedge crypto exposure, trade volatility and build structured positions without using offshore crypto options markets.

It adds another instrument to B3’s push into regulated crypto products, after the exchange moved to list bitcoin options and ether and solana futures and later prepared bitcoin-linked event contracts.

B3’s bitcoin futures contract is denominated in reais. Its ether and solana futures are denominated in U.S. dollars. All three reference Nasdaq crypto indexes, according to the announcement.

The price of a family home in the U.S. tells two very different stories depending on how it’s measured. Comparing the stories underscores bitcoin’s BTC$62,627.85 appeal as a long-term hedge against dollar debasement, the erosion of value in the fiat currency.

According to Fidelity Digital Assets, a typical U.S. house has gained more than $100,000 since 2020. That house-price appreciation is said to generate a positive wealth effect, an economic phenomenon where rising home values make homeowners feel wealthier. Feeling wealthier, they spend more, borrow more and boost the economy even if their actual income remains unchanged.

But what if the gain is just a mirage?

Price the same house in bitcoin and the narrative shifts sharply. What required more than 50 BTC in 2020 now costs just 5 BTC, a 90% decline.

“What appears to be appreciation in housing is more accurately a reflection of an erosion of fiat currency. The issue lies with the unit of account—not the asset itself,” Zack Wainwright, a digital asset research analyst at Fidelity, said.

A roster of 17 banks are preparing to begin testing live transactions on Swift’s blockchain-based ledger, a step toward round-the-clock cross-border payments using tokenized deposits.

Swift said the ledger is ready for initial use by banks across six continents in an announcement on Thursday. Its aim is to allow banks to move funds for customers overnight and on weekends, before final settlement through existing payment systems.

The banks taking part include UBS, BNP Paribas, BNY, Citi, HSBC, and Wells Fargo.

Swift, the bank-owned messaging network used by more than 11,500 financial institutions, announced the development of this shared ledger platform in October. It then said it would allow banks to settle transactions involving stablecoins and tokenized assets across multiple blockchains, working alongside current payment rails, not replacing them.

Swift, said the system gives banks a shared layer for tokenized deposits issued on their own ledgers. Tokenized deposits are digital versions of commercial bank money.

“With our new ledger capability, we’re extending the trust and stability of established finance into the frontiers of digital money,” said Thierry Chilosi, Swift’s chief business officer.

TLDR:

• Temasek holds zero direct crypto investments, citing unresolved regulatory uncertainty worldwide today.
• The fund absorbed a $275 million FTX writedown in 2022, damaging Singapore’s financial reputation.
• Temasek plans to raise AI exposure from six percent to fifteen percent of assets by 2031.
• Europe drew 12 billion euros in Temasek capital over two years, trailing only the United States.

Temasek crypto investments remain absent from the Singapore sovereign wealth fund’s portfolio, four years after a costly FTX exposure.

Chief Investment Officer Nagi Hamiyeh confirmed the firm holds no direct digital asset positions, citing ongoing regulatory uncertainty across global markets.

The statement follows a $275 million writedown Temasek recorded in 2022 after the collapse of cryptocurrency exchange FTX.

Despite avoiding direct crypto exposure, Temasek continues tracking blockchain infrastructure applications that could serve the broader real economy.

Temasek Crypto Stance Remains Unchanged

Hamiyeh told CNBC’s Sri Jegarajah on Wednesday that Temasek carries no direct crypto holdings in its current portfolio. “We don’t have directly any, any investment in crypto,” he said, pointing to regulatory uncertainty.

The executive said he could not predict what role crypto might eventually play within mainstream finance. Future decisions will depend heavily on how different jurisdictions choose to regulate the sector over time.

The FTX collapse still shapes Temasek’s cautious approach toward direct digital asset exposure today. Singapore’s fund absorbed a $275 million impairment after FTX filed for bankruptcy in 2022.

Lawrence Wong, then serving as deputy prime minister and finance minister, called the loss disappointing. He also noted the writedown affected Singapore’s broader reputation within global financial circles.

Rather than holding crypto directly, Temasek focuses on blockchain technology and its practical infrastructure uses. The fund evaluates how blockchain applications might benefit established sectors within the traditional real economy.

This approach allows Temasek to track innovation without taking on direct cryptocurrency price exposure. Officials continue monitoring the space closely as regulatory clarity slowly develops across major markets.

Hamiyeh’s comments reinforce a consistent position Temasek has maintained since the FTX writedown occurred. The fund has avoided re-entering direct crypto markets even as digital asset adoption expanded elsewhere.

Regulatory ambiguity remains the central obstacle preventing Temasek from reconsidering its current stance. Analysts following sovereign wealth fund behavior see this caution as a deliberate long-term choice.

AI, Europe, and Defense Investment Priorities

Temasek is prioritizing artificial intelligence adoption over building frontier models, according to Hamiyeh’s interview. “It’s all about the applications” and companies that build a competitive moat, he said.

Temasek aims to raise AI exposure from six percent of its portfolio toward fifteen percent by 2031. The fund is betting heavily on physical AI applications including automation and industrial robotics.

Europe has attracted roughly 12 billion euros in Temasek capital across the past two years. This places Europe second only to the United States among Temasek’s regional investment destinations.

Hamiyeh cited European strengths in luxury goods, consumer brands, and family-owned industrial businesses. He described Temasek’s approach to the region as patient, long-term capital deployment.

On the Middle East, Hamiyeh said the region’s transformation story is intact but conflict outcomes remain unclear. “We have to wait and see what are the ramifications of this conflict,” he said. Temasek continues watching how geopolitical developments might reshape the Middle East’s economic role globally.

Regarding defense, Hamiyeh said Temasek evaluates opportunities on a case-by-case basis rather than blanket exclusion. The fund focuses on dual-use technologies applicable to both civilian and military settings.

Biological and chemical weapons remain categorically excluded from any Temasek investment consideration. ST Engineering currently represents Temasek’s only direct exposure within the defense sector.

Netflix is preparing to release its financial results for the second quarter of 2026. According to the company’s official press release published on 15 June, the earnings report will be released on 16 July, followed by a video interview with management for investors. Back in April, when reporting its first-quarter results, the company warned that content spending would likely peak during the second quarter before moderating in the second half of the year. Investors are now looking to the July earnings release as the first opportunity to assess that forecast, as well as the pace of subscriber and advertising revenue growth.

Technical Analysis

On the four-hour chart, Netflix (NFLX on FXOpen) has been trading within a short-term downtrend since April. The decline accelerated in June, reaching a volume climax on 22 June before the price rebounded from the $71.00 area a few days later. The recovery established a local low, marked on the chart by the green support line.

At the beginning of July, the price attempted to break above the descending trendline, but the bullish breakout candle was completely engulfed by the following bearish candles. As a result of the failed breakout, a local swing high was formed, defining the red resistance level at $78.50, before the price retreated to the upper boundary of the current market profile at $76.10.

The Point of Control (POC) near $72.70 is the nearest significant support level should the pullback continue. Just below it lie the lower boundary of the market profile at $71.65 and the green support zone, which could once again attract buying interest if tested.

The RSI + MAs indicator is currently reading 48, 47 and 40. All three lines remain without a clear directional bias, highlighting the current market indecision.

Key Takeaways

The rebound from the $71.00 area has encountered resistance around $78.50, and without support from fundamental catalysts, it is still too early to conclude that the short-term downtrend has ended. Netflix’s second-quarter earnings release on 16 July could become the key catalyst for the stock’s next significant move.

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The Bank of Korea (BOK) has reaffirmed that won-denominated stablecoins should be issued through bank-led consortiums, with the central bank urging additional safeguards as lawmakers continue to debate South Korea’s digital asset framework. In materials submitted to the National Assembly’s finance committee on Thursday, the BOK pushed for a structure that keeps issuance centered on banks rather than broader non-bank participation.

Local reporting from Digital Asset and EDaily said the BOK emphasized measures such as priority issuance via bank-led consortiums and the creation of a statutory policy body involving relevant government agencies.

Key takeaways

• The BOK repeated its preference for won stablecoin issuance to be bank-led, using consortium structures as a core safeguard.
• The stance is expected to keep pressure on the Digital Asset Basic Act, where disagreements about who can issue stablecoins have already caused delays.
• BOK also signaled continued work on deposit-token use cases in the second half of the year, including government and everyday payment scenarios.
• South Korea’s stablecoin policy debate remains unsettled, with the bill’s timeline having slipped amid broader political and regional disruption.

Why the bank-led push matters for South Korea’s stablecoin rules

The BOK’s latest comments build on a months-long effort to keep won stablecoin issuance within bank-centered mechanisms. Earlier coverage noted that the central bank has been pressing for a framework in which banks retain dominant ownership or control over stablecoin issuers. That position has already split policymakers and industry groups, and it has contributed to stalling progress on South Korea’s Digital Asset Basic Act.

At the heart of the dispute is a question investors and market participants are watching closely: whether stablecoins will be treated as extensions of regulated banking activity—or as a more open category of financial infrastructure that could involve a wider set of firms. A bank-led consortium approach can tighten oversight, but it may also limit participation and slow down the pace at which new issuers and business models enter the market.

Deposit tokens return to the spotlight

Beyond stablecoins, the BOK also said it plans to keep developing deposit-token use cases in the second half of the year. According to local reporting, those efforts include support for government subsidy payments, vouchers, electric vehicle charging infrastructure, and further real-world transactions aimed at the general public.

Deposit tokens are digital tokens that represent commercial bank deposits. The BOK’s focus on them aligns with a broader direction seen in recent months: using tokenized deposits as a controlled pathway for tokenized payments, while maintaining that core infrastructure rests with regulated banks.

In April, BOK Governor Hyun-Song Shin publicly backed deposit tokens and central bank digital currencies (CBDCs) in his first address, and South Korea’s Ministry of Economy and Finance announced a pilot related to the use of tokenized deposits for government operational spending. By tying next-step development to concrete payment and voucher scenarios, the BOK is effectively linking its stablecoin governance position with a practical, near-term tokenization roadmap that can be tested in the real economy.

The Digital Asset Basic Act: unresolved issuance questions keep delaying progress

The BOK’s reaffirmation comes as lawmakers continue wrestling with how stablecoins, tokenized real-world assets (RWAs), and other digital assets should fit into South Korea’s financial rulebook. Earlier disagreements over stablecoin issuance—especially the question of who should be allowed to issue them—have kept the bill debate active rather than moving toward consolidation.

Cointelegraph has previously reported that the bill has repeatedly stalled over questions about whether stablecoins should be bank-led and, relatedly, about the ownership structure of stablecoin issuers. Local reporting indicates the central bank continues to argue for an approach where banks keep the majority position in stablecoin issuance structures.

Meanwhile, lawmakers have continued considering how to place these assets into existing legal categories. In April, South Korea’s ruling Democratic Party proposed bringing stablecoins and RWAs under existing financial laws, but the central issue of bank-led issuance remained unresolved—suggesting that classification alone may not settle the governance model.

One reason the process has been particularly difficult is that policy decisions on stablecoins now intersect with broader digital asset priorities: tokenized RWAs, deposit-token pilots, and the overall question of how far tokenization should extend across regulated financial services.

Timeline pressure and political headwinds

In January, the government told President Lee Jae-myung it aimed to meet a legislative target by the first quarter of 2026. That timeline has since slipped, and the reasons cited in local reporting include the US-Israeli war with Iran beginning in late February, domestic election cycles, and delays linked to reorganization of the Assembly’s committee structure.

These disruptions matter because they affect how quickly competing approaches—bank-led models favored by the BOK versus broader industry participation—can be reconciled into a single bill text. The longer the stalemate persists, the more uncertainty market participants face regarding licensing, issuer ownership rules, and compliance expectations for any future won stablecoin issuance.

For readers tracking South Korea’s digital asset transition, the BOK’s behavior provides a clear signal: even as negotiations continue, the central bank appears unwilling to move away from bank-led safeguards. At the same time, its continued emphasis on deposit-token pilots suggests the BOK sees tokenized banking deposits as a more immediately actionable and controllable stepping stone.

Going forward, investors and builders should watch whether the National Assembly’s committee deliberations converge on the BOK’s bank-led issuance model—or whether lawmakers carve out room for alternative issuer structures. Equally important will be how the promised second-half work on deposit-token use cases progresses, since real-world pilots can shape what regulators ultimately tolerate in the stablecoin ecosystem.