Bitcoin Cools as Traders Lock in Gains, While AI Tokens Rally on Big Tech Bets; Maple Finance Tops DeFi Rankings
BTC pulls back from record highs, stablecoin flows grow cautious, and AI tokens surge after Google and Meta ramp up infrastructure spending.
Bitcoin (BTC) retreated from its recent all-time highs early Tuesday in Asia, sliding 1.8% to around $117,800 as traders took profits following a red-hot rally. Despite the pullback, some investors are still eyeing $160,000 and beyond, though market signals suggest rising risk.
Lennex Lai, Chief Commercial Officer at OKX, warned that sentiment may be overstretched.
“We’re seeing a parabolic increase in long positions and rising funding rates,” Lai told CoinDesk. “Crypto Week hype is fueling momentum, but macro risk is lurking.”
Potential shocks from rising global tariffs—particularly new levies on Mexico and the EU—and key inflation readings out of the U.K. and U.S. could trigger renewed volatility, Lai added.
A fresh report from K33 Research echoed the warning, pointing to the 30% drop earlier this year when BTC plunged to $75,000 amid global risk-off flows. Despite that dip, bitcoin has since outpaced equities, suggesting continued investor appetite for crypto.
K33 also highlighted a notable decline in average funding rates this year—just 4.51%—marking the lowest levels since the post-FTX collapse in 2022. That, they say, suggests cautious positioning from experienced traders even amid bullish sentiment.
“At these levels, discipline is critical,” Lai added. “Retail euphoria doesn’t erase the risk of sharp reversals.”
Maple Finance Surpasses BlackRock’s BUIDL as Largest On-Chain Asset Manager
In a major milestone for decentralized finance, Maple Finance has overtaken BlackRock’s tokenized fund BUIDL to become the largest on-chain asset manager, according to Dune Analytics.
A $100 million inflow this week pushed Maple’s total AUM to $2.9 billion, surpassing BUIDL’s $2.3 billion.
Maple distinguishes itself with undercollateralized lending to institutions—a contrast to BUIDL’s conservative exposure to U.S. Treasuries. The rapid growth highlights growing institutional demand for yield and the growing confidence in DeFi’s credit models.
This marks a rare moment where a decentralized platform has outpaced a traditional financial heavyweight in managing on-chain capital.
AI Tokens Surge as Google and Meta Announce Multi-Billion Dollar Data Center Projects
AI-focused cryptocurrencies spiked over 5% in the last 24 hours, lifting the total market cap of the sector to $29.6 billion, according to CoinGecko.
The rally followed massive infrastructure announcements from Google and Meta. Google unveiled $25 billion in investments into AI and data center infrastructure across the U.S., including a $3 billion hydroelectric deal with Brookfield. Meanwhile, Meta revealed plans for its “Prometheus” data center in Ohio—part of a multi-hundred-billion-dollar AI buildout.
Both announcements came during a U.S. federal summit on AI at Carnegie Mellon University, where total commitments from public and private sectors topped $90 billion. The moves have further ignited bullish sentiment around AI-related crypto projects, seen as infrastructure plays in the digital economy.
Market Snapshot
- Bitcoin (BTC): $117,810.33 (▼1.69%) — Profit-taking trims gains; $120K rejected near-term.
- Ethereum (ETH): $3,066.57 (▲2.6%) — Regained strength after bouncing off $2,933, with staking momentum fueling upside.
- Gold: $3,331.55 (▼0.56%) — Despite bullish projections for $4,000/oz, gold dipped amid rising yields.
- Nikkei 225: Flat — Weighed down by new U.S. tariffs targeting Indonesia under fresh Trump administration trade policy.
- S&P 500: ▼0.4% — Inflation climbed to 2.7% YoY in June, pressuring valuations despite strong earnings.
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