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Bitcoin is still trading below half of its all-time high price record, while the S&P 500, QQQ and gold continue to regularly set new records. The key reason for this prolonged underperformance was formulated by Tether adviser Gabor Gurbacs. In his view, the value of the flagship cryptocurrency is literally being "drained" by the degradation of the discussion itself inside the industry.
Instead of building strong infrastructure and developing distribution, a significant part of the crypto space has been captured by "tourists" and creators of overtly weak, derivative products focused exclusively on clickbait and fast hype, says Gurbacs.
Deeply unserious people took over large parts of the Bitcoin conversation, selling weak products and recycled narratives instead of building conviction, infrastructure and distribution. That's a big reason Bitcoin isn't at ATHs now.
While it was nearly 10 years ago when things…
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— Gabor Gurbacs (@gaborgurbacs) June 29, 2026 He draws a hard line between today's market and the crypto community of the pre-2017 era. The early Bitcoin era was based on cypherpunk principles, the concept of "hard money" and professional capital markets operators.
"These were deeper, more principled and mission-oriented people. If I had one wish, I would want the real-world asset tokenization boom to have happened in 2017 instead of the ICO boom," the Tether adviser noted.
Why is Bitcoin stalling?The main paradox of the current cycle lies in Bitcoin's desynchronization from traditional defensive and technology assets. Institutional capital that entered the crypto market has faced an abundance of speculative "noise," which prevents long-term value from being retained inside the ecosystem.
Pressure on the BTC price is also being intensified by a local excess of supply. Last week, net capital inflow under the "institutional absorption versus early holder distribution" model showed the worst result of the cycle. The cumulative balance for this metric has fallen to -154,169 BTC since the peak in October 2025.
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Nevertheless, Gurbacs emphasizes that Bitcoin will still win in the long term. The current problems are not related to the technology, but to the quality of those trying to speculate on it.
Bitcoin remained below the $60,000 mark on Tuesday as traders now watch the US monetary policy outlook and institutional demand. The cryptocurrency was trading at the $59,437 mark.
In the past 24 hours, Bitcoin was down 0.91%, and Ethereum was up 0.76% to trade at the $1,591 mark. Among the major altcoins, BNB, XRP, Tron, Dogecoin and Cardano slipped up to 1.53%, whereas Solana and Hyperliquid were up 1.83% and 4.59%, respectively.
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Vikram Subburaj, CEO of Giottus, said Bitcoin tried to recover after last week's sharp correction. However, it remained stuck in a range, and investors continued to watch the US monetary policy outlook. They were also monitoring institutional demand. While selling pressure has moderated, the market is yet to find a strong catalyst for a sustained breakout.
Institutional flows remain mixed. US spot Bitcoin ETFs recorded a modest net inflow of around $69 million on June 29, breaking a series of heavy outflows seen in the preceding sessions, Subburaj further said.
The global crypto market capitalisation edged down 0.53% to $2.06 trillion, according to CoinMarketCap. Bitcoin ETFs are experiencing their most aggressive outflows ever, which has created significant short-term pressure on the crypto. Besides, US President Trump is expected to sign the Clarity Act, which could have a steering impact on the crypto markets, said CoinDCX Research Team.
CoinSwitch Markets Desk said that while some headwinds remain, including ongoing outflows from US spot Bitcoin ETFs and expectations that the Federal Reserve will keep interest rates elevated for longer, buyers are showing resilience.
In the past week, Bitcoin and Ethereum were down over 5% each. Among the major altcoins, BNB, XRP, Tron, Dogecoin and Cardano corrected up to 9.39%, whereas Solana and Hyperliquid were up 5.89% and 2.96%, respectively.
Avinash Shekhar, Co-Founder & CEO, Pi42, said Bitcoin is trying to stabilise around the $60,000 mark as improving geopolitical sentiment, following the announcement of fresh US-Iran talks, helped lift broader crypto markets. The rebound suggests that investors are responding positively to easing macro uncertainty, even as overall market participation remains measured.
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Market perspective
Piyush Walke, Derivatives Research Analyst, Delta Exchange: Bitcoin (BTC) is hovering at a key inflection point, with retail investors continuing to offload their holdings while institutional buyers remain on hold despite attractive valuations. As a result, the market remains range-bound, awaiting its next decisive move
Akshat Siddhant, Lead quant analyst, Mudrex: While easing geopolitical tensions have encouraged investors back into risk assets, weak spot demand has kept Bitcoin trading in a narrow range. Markets are now focused on Fed Chair Warsh’s speech at the ECB Forum and the upcoming US jobs report for clues on liquidity conditions in the second half of the year.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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BlackRock’s iShares Micro-Cap ETF, ticker IWC, added 79,805 shares of Strive Inc. to its portfolio, bringing total holdings to 213,713 shares valued at roughly $3M.
Strive, which trades on Nasdaq under the ticker ASST, has built its corporate strategy around accumulating Bitcoin as a primary reserve asset. The company held over 19,864 BTC as of late June 2026, a treasury that makes it one of the more aggressive corporate Bitcoin accumulators in the micro-cap space.
What IWC actually is, and why this matters The IWC is a passive fund. It tracks the Russell Microcap Index, holding somewhere between 1,278 and 1,385 stocks at any given time, with total assets exceeding $1.5B. BlackRock didn’t wake up one morning and decide Strive looked like a great buy. The fund’s methodology automatically includes companies that meet the index’s criteria.
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Strive’s growth in market cap and trading activity has pushed it into the kind of index inclusion that funnels passive capital its way. The 80,000-share increase represents a substantial bump in exposure. At $3M in total value, it’s not going to move the needle for a $1.5B fund.
Strive’s Bitcoin accumulation strategy Strive’s holdings grew to 13,628 BTC by the end of 2025, and the accumulation has only accelerated since then. In June alone, Strive purchased 759 BTC for approximately $50M and an additional 73 BTC for $4.7M. The company has signaled intentions to continue buying Bitcoin through mid-2026, treating the cryptocurrency as its core treasury asset.
With over 19,864 BTC now on its balance sheet, Strive sits in a growing category of public companies that have essentially turned themselves into leveraged Bitcoin vehicles. MicroStrategy, now rebranded as Strategy, pioneered this approach starting in 2020, and a cohort of smaller firms have followed suit.
What this means for investors A $3M position inside a $1.5B fund is roughly 0.2% of assets. Passive index inclusion creates a flywheel effect: as more ETFs and index funds are forced to hold companies like Strive, the stock gets more liquidity, which means tighter spreads and potentially higher valuations. Higher valuations push the company further up the index rankings, which triggers more buying.
The risk cuts both ways. If Bitcoin enters a prolonged downturn, companies like Strive will see their balance sheets deteriorate rapidly. Index funds would then mechanically sell as the stock drops out of qualification thresholds. Investors who own IWC for broad micro-cap exposure might find themselves unexpectedly correlated to crypto volatility in ways they didn’t anticipate.
A micro-cap index is supposed to offer diversification across hundreds of small companies. When several of those companies are all variations on the same Bitcoin treasury theme, the diversification benefit erodes.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
What a quarter it has been, and not in a good way, for most of crypto. But as the second quarter of 2026 closes out, there is one major coin standing in the green while everything else finishes deep in the red, and it is Solana. SOL is trading at $74.02, up on the day, up 4.3% on the week, and genuinely outperforming the entire top of the market (live SOL price on CoinGecko). After months of pain, let me tell you why Solana is the bright spot worth celebrating, with eyes open.
Green in a sea of red Let’s appreciate how unusual this is. As the quarter ends, Bitcoin is below $60,000 and down 6% on the week. Ethereum is down 7%. XRP down 6%. BNB down 5.5%. And then there is Solana, up 4.3% on the week and climbing. Look at any market table right now and SOL’s green candle stands out against a wall of red.
Being the strongest major coin in a quarter this brutal is not a fluke. It reflects real momentum building in the Solana ecosystem while the rest of the market struggles. When one network pulls ahead this clearly during a downturn, it usually means something genuine is happening underneath, and in Solana’s case, it is.
What’s powering Solana’s strength So what is actually driving this? Several real, specific things are converging, and they are exciting.
Start with MoneyGram. The global payments giant recently became an active Solana validator and infrastructure partner, committing to run network infrastructure. That is not a passive bet, it is a major payments company building on Solana, exactly the kind of grown-up adoption that builds lasting value. Then there is the tokenized stock momentum: trading of real-world stocks represented on-chain has been fueling fresh activity across the Solana ecosystem, one of crypto’s most promising actual use cases. And Solana’s ecosystem tokens have been leading market rebounds, a sign capital is rotating toward networks people believe in.
Add the steady drumbeat of ETF flows. Solana’s spot ETFs launched with staking enabled, passing yield to investors, something Bitcoin and Ethereum ETFs cannot offer. In a market where money is fleeing non-yielding products, an ETF that actually pays a yield stands out, and Solana has drawn some of the only positive ETF flows among the majors.
The tech that keeps me bullish long-term Beyond the headlines, Solana’s fundamental upgrades keep marching forward, and this is the part that makes me a believer. Alpenglow, the biggest consensus overhaul in Solana’s history, is live on a test cluster, pushing toward dramatically faster transaction finality. And Firedancer, the new engine from Jump Crypto, keeps progressing with a careful, test-first rollout aimed at making the network faster and far more reliable.
These upgrades target the exact criticisms Solana used to face, speed and outages, and watching them come together while SOL leads the market is genuinely encouraging. The network has been handling over 1,100 transactions per second with millions of daily active wallets. The usage is real and growing.
Now the honest part I am fired up about Solana, but I owe you the balance. Being green this week does not make SOL bulletproof. It is still part of a crypto market that just had an ugly quarter, and if Bitcoin breaks hard toward $54,000 to $56,000, as some analysts warn is possible, Solana would very likely get dragged down with it. Relative strength is not immunity.
And Solana still leans partly on speculative activity like memecoin trading, which can dry up fast and pull network fees down with it. So enjoy this moment of strength, but keep your eyes open. The fundamentals are genuinely improving, but the macro storm has not fully cleared.
The levels worth watching On the downside, $70 is the first support, with the $66 to $67 zone beneath it as the floor that has held through recent dips. Staying above $70 keeps this leadership story alive. On the upside, a clear move above $78 would brighten things further, and reclaiming the $85 zone would be a real signal that a stronger recovery is taking hold.
Bringing it together Solana at $74 is the lone bright spot as a brutal quarter ends, the only major coin in the green, up 4.3% on the week while everything else bleeds. Between the MoneyGram validator news, surging tokenized stock activity, staking-enabled ETFs drawing flows, and the Alpenglow and Firedancer upgrades marching forward, SOL has real, specific reasons for its strength.
Just stay grounded. Solana is leading, not escaping, and a deeper Bitcoin drop would test it. But if you have been searching for a reason for optimism after a rough quarter, a coin that is genuinely outperforming with real adoption behind it is about as good as it gets. Watch $70 below and $78 above, and enjoy this rare patch of green.
FAQ What is the Solana price today?
Solana is trading at $74.02 on June 30, 2026, up on the day and 4.3% on the week, making it the only major coin in the green as a brutal quarter ends with Bitcoin below $60,000.
Why is Solana outperforming other coins?
Solana’s strength reflects real ecosystem momentum: the MoneyGram validator partnership, surging tokenized stock trading, staking-enabled spot ETFs drawing flows when non-yielding ETFs bleed, and steady progress on the Alpenglow and Firedancer upgrades.
What makes Solana’s ETF different?
Solana’s spot ETFs launched with staking enabled, passing validator rewards to shareholders. This yield component makes them more attractive than Bitcoin or Ethereum ETFs, which offer no staking return, especially as institutions pull money from non-yielding products.
What are the key Solana levels to watch?
Support is $70, with the $66 to $67 zone below it. Holding $70 keeps the leadership story alive. On the upside, a move above $78 and then the $85 zone would signal a stronger recovery.
Is Solana safe from the broader crash?
No. Solana is outperforming but still part of a weak market, and a deeper Bitcoin drop toward $54,000 to $56,000 would likely pull it lower. Its reliance on speculative activity is also a risk. Relative strength is not immunity. This is not investment advice.
This is not investment advice. Cryptocurrency is highly volatile. Always do your own research.
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Former Binance CEO Changpeng Zhao (CZ) has admitted that even after several attempts, he still does not fully understand Strategy’s new STRC financial product. Moreover, speaking about Michael Saylor’s increasingly sophisticated Bitcoin-backed financial strategy, CZ described the product as highly engineered and potentially too complex for many investors.
“I took multiple attempts trying to understand STRC. I don’t think I understand it fully,” CZ said. He acknowledged that he is not qualified to provide a detailed explanation of how the product works.
According to CZ, many modern financial products have become “too complex” and “over-engineered.” They often rely on several layers of leverage and structured financing. He added, “When this type of product becomes too complex, it becomes very hard to understand. Parts of it become black boxes.” As a result, in his view, excessive complexity makes it difficult for even experienced investors to properly evaluate the underlying risks.
“Michael Saylor Understands It Better Than I Do”Despite his concerns, CZ emphasized that his comments were not directed at Michael Saylor personally. “Michael Saylor is obviously extremely smart,” he said. In addition, he added that Saylor has far greater expertise in public companies, capital markets, senior notes, and structured finance.
CZ explained that his own background is rooted in technology and entrepreneurship rather than traditional financial engineering. For this reason, products like STRC are more difficult for him to analyze. He also revealed that Saylor spent about 15 minutes explaining STRC before they spoke together at an event.
“If I Can’t Understand It, That Does Worry Me”While acknowledging his limited expertise, CZ questioned whether the product may be too complicated for many investors. “If I can’t understand it… it does worry me that there may be a few other guys who don’t understand that either,” he said. For CZ, complexity itself represents an investment risk. This is because it reduces transparency and makes informed decision-making harder.
“The Market Overreacted When Strategy Sold 32 Bitcoin”Although he could not comment on STRC’s structure, CZ defended Strategy after criticism over its sale of 32 BTC. He noted that the company holds nearly one million Bitcoin. This makes the transaction relatively insignificant. “At some point, he’s got to sell some Bitcoin,” CZ said. He added that companies must meet financial obligations such as paying dividends and managing their balance sheets. Also, he argued that the market often overreacts, portraying Saylor as either a hero or a villain instead of taking a balanced view.
“Bitcoin Might Not Be the Best Underlying Asset for Leverage”CZ also questioned whether Bitcoin’s volatility makes it the ideal collateral for leveraged financial products. While he remains bullish on Bitcoin’s long-term prospects, he noted that the asset has historically experienced corrections of 50% to 80%. This increases the risks associated with highly leveraged structures.
He stressed that his views are based on his limited understanding of STRC. However, he said he remains cautious about financial products that are difficult to fully explain or understand.
Story Ends Here
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Bitcoin is holding a narrow consolidation price range as its prediction hangs in the balance on Michael Saylor’s next move and macroeconomic catalyst. Strategy’s MSTR shares snapped a nine-day losing streak on Monday after the firm unveiled a formalized capital framework that could allow it to sell up to $1.25 billion in Bitcoin to strengthen its balance sheet.
Strategy announces a Digital Credit Capital Framework designed to strengthen Digital Credit, enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation. $MSTR $STRC https://t.co/AUoUCtem53
— Michael Saylor (@saylor) June 29, 2026 The announcement centered on Strategy’s expanded USD Reserve alongside a “BTC Monetization Program” that formalizes potential Bitcoin sales as a cash management tool. Meanwhile, Michael Saylor raised its dividend for the eighth time, targeting a 12% annual yield through twice-monthly distributions.
As one analyst noted, Saylor’s recent $1 billion Bitcoin purchase was financed entirely through STRC preferred stock sales, with no dilution of MSTR common shares. However, the preferred share product STRC rebounded after the news and sent the company’s mNAV above 1.0.
Strategy’s MSTR Dashboard, StrategyMacro context adds a layer of uncertainty. The Bank of Japan’s upcoming rate decision, a potential hike to the highest levels in 30 years, remains a live risk-off trigger for BTC and risk assets. So, until the BoJ verdict lands, directional conviction is thin.
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Bitcoin Price Prediction: Break $70,000 This Week?Bitcoin is trading around $60,000, 52% below its all-time high. Price remains locked inside a defined range after several failed breakout attempts. Meanwhile, MACD still favors buyers, although bullish momentum has weakened over the past two days. RSI is also trying to move above its signal line.
If buyers defend support near $58,800 and momentum strengthens, Bitcoin could challenge resistance around $64,100. A successful breakout would expose the next upside target near $71,700. However, the market still needs stronger buying pressure to confirm a sustained recovery.
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The most likely outcome remains continued consolidation while traders wait for the Bank of Japan’s policy decision and any fresh announcement from Strategy regarding additional Bitcoin purchases. On the downside, a surprise rate hike or disappointing corporate demand could drag Bitcoin toward support near $55,000.
We might still see some short-term volatility as traders adjust their exposure. Although Michael Saylor continues projecting Bitcoin could eventually reach $150,000 and later $1 million, price direction will ultimately depend on liquidity and sustained capital inflows rather than long-term forecasts.
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Bitcoin Hyper Targets Early-Mover Upside as Bitcoin Tests Key LevelsBitcoin consolidating 50% below its high is the textbook setup where established-asset upside gets slowly priced in. It’s also where early-stage infrastructure plays attract rotational interest from traders who’ve done the math on BTC’s remaining percentage moves.
At the current rate, a 10x from here would make BTC a $10 trillion asset; that’s a very different probability calculus than it was at $1,000. That’s the context to keep in mind when evaluating what gets built on top of Bitcoin’s base layer.
Bitcoin Hyper ($HYPER) is positioning itself as the first Bitcoin Layer 2 with SVM (Solana Virtual Machine) integration, targeting the performance gap between Bitcoin’s security and Solana-grade execution speed.
The presale has raised close to $33 million at a current price of $0.01368, with staking available and a decentralized canonical bridge for native BTC transfers. The core pitch: fast, low-cost smart contracts on Bitcoin without sacrificing the trust layer.
Research Bitcoin Hyper before the presale window closes.
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Bitcoin price has slipped back below $60,000 after another failed breakout attempt, as weak stablecoin inflows have reinforced concerns over a lack of fresh buying demand.
Summary
Bitcoin price has failed to hold above $60,000 since June 25 as weak stablecoin inflows limit buying demand. Record spot Bitcoin ETF outflows and Strategy’s potential BTC sales continue to weigh on market liquidity. Analysts see $58,000-$59,000 as key support, with a break lower increasing the risk of another selloff. According to data from crypto.news, Bitcoin (BTC) traded near $59,300 on June 30 after briefly reclaiming the psychological $60,000 level before slipping back below it, extending a series of failed breakout attempts since falling under the mark on June 25.
Market sentiment remained fragile as traders weighed shrinking liquidity, record spot ETF outflows, and a challenging macro backdrop. According to CryptoQuant analyst Sunny Mom, the latest on-chain data suggests the market lacks the fresh capital typically needed to support a sustained breakout.
No Dry Powder, No Real Rally
“In this kind of environment, any bounce that does appear is more likely a short-term technical reaction than the beginning of a trend reversal.” – By Sunny Mom pic.twitter.com/PQgdlAqKHz
— CryptoQuant.com (@cryptoquant_com) June 30, 2026 “New money has stopped coming in,” Sunny Mom wrote, adding that “any bounce that does appear is more likely a short-term technical reaction than the beginning of a trend reversal.”
The analyst based that view on the 30-day stablecoin market capitalization growth rate. USDC issuance has turned negative, while Ethereum-based USDT growth has also weakened.
Stablecoins often serve as the primary source of buying power for crypto markets, making slower issuance a sign that fewer investors are converting cash into digital assets.
Institutional selling and macro headwinds continue to cap Bitcoin Fresh institutional data has reinforced the liquidity concerns. U.S. spot Bitcoin exchange-traded funds recorded nearly $1.79 billion in net outflows during the final full week of June, the largest weekly withdrawal this year. Because fund managers must sell Bitcoin to meet investor redemptions, those outflows have removed one of the market’s strongest sources of spot demand.
As reported earlier by crypto.news, Strategy recently unveiled its Digital Credit Capital Framework, authorizing up to $1.25 billion in potential Bitcoin sales to meet interest and dividend obligations. The announcement arrived alongside quarter-end portfolio rebalancing by institutional investors, adding another source of supply after months in which the company had consistently accumulated Bitcoin.
Economic conditions have further reduced appetite for risk assets. A stronger-than-expected U.S. Core PCE inflation reading weakened expectations for Federal Reserve rate cuts, while higher Treasury yields encouraged investors to rotate toward fixed-income assets.
At the same time, Brent crude slipped toward $73 per barrel as attention shifted to renewed U.S.-Iran negotiations in Doha after an interim agreement reduced the immediate risk of disruptions through the Strait of Hormuz. Still, geopolitical uncertainty has remained part of the market backdrop.
Technical structure keeps downside risks in focus Bitcoin’s 1-day USDT chart continues to favor sellers after price failed to reclaim the descending trendline drawn from the May highs. The cryptocurrency is trading just above the key support zone around $58,169, which coincides with the 100% Fibonacci retracement of the recent decline. A decisive move below that level could expose the mid-$50,000 region.
Bitcoin daily price chart — June 30 | Source: crypto.news Momentum indicators have yet to confirm a durable reversal. The daily RSI has slipped to around 32, placing Bitcoin close to oversold territory, while the MACD remains below the zero line despite flattening after the recent selloff. Those readings suggest selling pressure has slowed but buyers have not yet regained control.
Derivatives positioning also points to heightened volatility around current prices. CoinGlass liquidation data shows one of the largest downside liquidity clusters between $58,800 and $59,000, while another concentration of leveraged positions sits near $61,000 to $61,500. Either zone could attract price if momentum accelerates.
Bitcoin liquidation heatmap | Source: CoinGlass According to analyst Ted Pillows, Bitcoin’s immediate outlook depends on whether support between $58,000 and $59,000 can hold.
“The key level for Bitcoin here is $58,000-$59,000 which should hold for any bounceback.”
A successful defense of that area could trigger a relief rally toward the low-$60,000 range and potentially $61,500, where liquidation pressure increases.
However, if Bitcoin fails to hold support, it would strengthen the bearish case, particularly if stablecoin issuance remains weak, ETF redemptions continue, and macro conditions keep institutional capital away from risk assets.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
TLDR U.S. stock index futures advanced Tuesday following the Dow’s historic breakthrough past 52,000 points in the previous session. The inclusion of Alphabet in the Dow Jones Industrial Average contributed to Monday’s surge, with shares climbing 4.8%. A Supreme Court decision blocked Trump’s bid to dismiss Federal Reserve Governor Lisa Cook, strengthening central bank autonomy. Both the S&P 500 and Nasdaq indexes are headed toward their strongest first-half showing since 2024. Cryptocurrency markets weakened as traders priced in higher probability of Federal Reserve rate increases. American equity futures moved higher in early Tuesday trading as market participants prepared to conclude the year’s first six months on a positive trajectory. Futures contracts for the Dow Jones Industrial Average advanced approximately 60 points, representing a 0.1% increase. The S&P 500 futures index added 0.1%, while Nasdaq 100 futures showed a 0.2% gain.
E-Mini S&P 500 Sep 26 (ES=F) These positive moves extend Monday’s trading session, which witnessed the Dow crossing the 52,000 threshold for the first time in its history. Technology-focused equities dominated that day’s upward movement.
Technology Sector Powers Market Momentum Alphabet emerged as a significant contributor to Monday’s market strength. Following its recent inclusion in the Dow Jones index, the company’s shares advanced 4.8% during the session.
Alphabet now stands alongside several major technology corporations already represented in the benchmark index. This group encompasses Amazon, Apple, Microsoft, and Nvidia—collectively referred to as the Magnificent Seven.
Caterpillar, a leading industrial equipment manufacturer, has also contributed meaningfully to the Dow’s recent ascent. The firm has experienced increased demand for construction machinery utilized in data center development projects.
According to data compiled by Dow Jones Market Data, both the S&P 500 and Nasdaq are positioned to deliver their most impressive first-half results since 2024. Year-to-date figures show the S&P 500 gaining 8.7%, while the Nasdaq has advanced 11.1% during the identical timeframe.
Research analysts at LPL Financial observed in a recent publication that although investor optimism has expanded, it hasn’t reached excessive territory. Their analysis indicates certain sentiment metrics appear extended, though others maintain positions nearer to historical norms.
High Court Decision Reinforces Central Bank Autonomy The nation’s highest court on Monday turned down President Trump’s effort to dismiss Federal Reserve Governor Lisa Cook without adequate legal examination. The ruling reinforces the principle that the Federal Reserve should function free from political interference.
This judicial decision follows closely after Kevin Warsh assumed his role as the Fed’s new Chairman. Warsh is set to deliver remarks at the European Central Bank’s conference in Sintra, Portugal this Wednesday. Market observers will scrutinize his statements for indications regarding the future direction of monetary policy.
The benchmark 10-year Treasury note yield registered at 4.369% in early Tuesday trading, showing a modest decline from the prior session. Market participants are also monitoring upcoming employment data releases scheduled for this week, culminating with the June employment report.
Robust employment figures could prompt the Federal Reserve to maintain elevated interest rates for an extended duration. Some market analysts suggest such strength might even trigger a rate increase before year-end.
Nike is preparing to announce quarterly results on Tuesday. The athletic apparel giant continues addressing operational headwinds affecting its business operations.
Bitcoin experienced downward pressure Tuesday as market participants increased expectations for U.S. interest rate elevation. Additional selling pressure stemmed from anticipation of possible Bitcoin liquidations related to corporate balance sheet decisions.
Precious metal markets showed gold on track for a substantial 12% monthly decline. This downturn reflects increasingly hawkish interpretations of the Federal Reserve’s policy trajectory.
Crude oil quotations retreated as market focus shifted toward potential diplomatic discussions between Washington and Tehran in Doha. The prospect of reduced tensions between these nations had previously contributed to improved overall market sentiment.
Bitcoin [BTC] whale accumulation has remained resilient even as prices continue consolidating near the $58,000–$60,000 range. Whale on-chain data indicates that large position holders have been buying rather than selling as a result of the recent decline in price.
The total amount of BTC held by whales remains near an all-time high. Their 30-day accumulation rate remains positive, with some moderation from past accumulation.
Source: CryptoQuant Glassnode data confirms that whale net positions have remained stable within the accumulation zone since renewed buying resumed in late 2024.
Source: Glassnode That trend implies that whales find the current price level attractive enough to buy regardless of other market conditions. With an increasing percentage of the total supply being held by long-term investors, the potential exists for reduced downward pressure due to selling.
However, whales are accumulating at a lower rate than they did when prior surges occurred. If whales continue to accumulate steadily, it will provide additional structural support to the price of bitcoin. If this trend reverses and whales start to sell, there will be less protection against future declines.
Are new buyers replacing ETF sellers? Bitcoin’s latest correction is painting two very different pictures of market strength.
On one side, last week saw the second‑largest weekly outflow from Bitcoin ETFs since spot products launched in January 2024, underscoring continued institutional selling as prices stayed under pressure. Typically, such large withdrawals should suggest a more broad-based bearish sentiment towards the markets.
Source: Galaxy Research Conversely, there is another story developing underneath the surface. Inflationary trends in exchange flow have begun to emerge, with exchange flow currently being higher than the flow of assets being withdrawn from exchanges.
With Bitcoin trading at approximately $59,500 at press time, indicating that new capital is entering the market. At the same time, these whales are buying up the assets around areas they perceive as long-term support rather than selling into weakness. This move signifies conviction that current pricing is attractive.
Source: CryptoQuant This divergence implies that ownership is beginning to transition from weaker hands to longer-term holders, rather than distributing into weakness. This shift suggests larger investors still view current prices as attractive. If new exchange inflows increasingly represent genuine accumulation, Bitcoin could establish a stronger foundation for recovery.
However, persistent ETF redemptions may continue delaying renewed bullish momentum despite improving on-chain participation.
Final Summary Bitcoin whale accumulation continues strengthening long-term market support despite slower buying. BTC recovery depends on new demand offsetting continued ETF outflows.
Qatar's Ministry of Foreign Affairs spokesperson: There are currently no plans to hold a high-level meeting between the United States and Iran.
A spokesperson for Qatar’s Ministry of Foreign Affairs stated that U.S. Special Presidential Envoy Steve Witkoff and Jared Kushner, son-in-law of former U.S. President Donald Trump, will travel to Qatar to meet with mediators to discuss negotiation matters. No high-level meeting between the United States and Iran is currently planned.
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Binance Alpha opens the second round of COLLECT airdrop claims.
Binance Alpha has opened claims for the second round of the Collect on Fanable token COLLECT airdrop rewards. Users holding at least 224 Alpha points can claim 800 COLLECT tokens on a first-come, first-served basis. If the reward pool is not fully distributed, the point threshold will be lowered.
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SK Hynix plans to order semiconductor testing equipment, with a total price of up to $259 million.
SK Hynix is negotiating with semiconductor equipment manufacturers over the supply of semiconductor testing equipment needed for its Cheongju P&T7 plant. Equipment suppliers are verbally coordinating the number of units that can be delivered next year. The equipment industry forecasts the plant will order around 200 units, including HBM4 testers. At a price of 1.5 billion to 2 billion won per unit, the total cost could reach up to 400 billion won (approximately $259 million). (TheElec)
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Jefferies reaffirms buy rating for AVGO, sets target price at $550.
Jefferies analyst Blayne Curtis reiterated a Buy rating on AVGO and set a $550 price target, noting that the recent pullback in the stock creates a buying opportunity, with fiscal 2028 EPS projected to reach $30–$40. The analyst emphasized that Broadcom’s TPU roadmap is advancing as planned, the long-term agreement signed with Google through 2031 guarantees minimum revenue, and concerns over competition from MTK are overstated.
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A whale invested $1.11 million to open a 3x long position of 8,253.89 ETH.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a certain whale added 1.11 million USDC in margin to Hyperliquid one hour ago, then opened an ETH long position worth $13.05 million, with an entry price of $1,581.9 and a liquidation price of $1,078.5.
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OKX Star: One Person, One World-Class Company
According to official announcements, OKX has officially launched OKX.AI, a decentralized platform for the agent economy that enables AI Agents to post tasks, accept assignments, process payments, submit reviews, and conduct arbitration. OKX Founder and CEO Star stated in a post on X: "Over the past two decades, the world has been rebuilt around apps; over the next ten years, it will be rebuilt around agents. Agents will serve humans, be hired by humans, receive payments from humans, and collaborate with humans to complete complex tasks, while humans will channel more energy into imagination, judgment, purpose, and truly unique value." Star emphasized that this is not an era of more efficient software, but a new economic era. He added: "The future will no longer belong only to companies with the most employees, but also to individuals with the best agents. One person can be a world-class company. Welcome to the Agentic Economy, welcome to OKX.AI."
The new Digital Credit Capital Framework raises the STRC dividend to 12%, authorizes $2 billion in buybacks, and for the first time formally permits selling bitcoin at scale to fund the company's obligations.
Posted June 30, 2026 at 6:18 am EST.
Strategy announced Monday that its board has adopted a Digital Credit Capital Framework, a five-part overhaul of how the company manages its preferred stock obligations that, for the first time since the company began accumulating bitcoin, formally authorizes the sale of bitcoin at meaningful scale. The framework arrives days after Strategy’s enterprise valuation fell below the net asset value of its bitcoin holdings for the first time, and amid mounting pressure on its STRC preferred stock, which has traded as low as $71, well below its $100 par value.
Under the new framework, Strategy announced a BTC Monetization Program, which authorizes the selling of up to $1.25 billion in bitcoin to fund the company’s USD Reserve, preferred dividends and interest payments when management judges it more advantageous than issuing common stock, and new stock and preferred buyback programs. The company stressed the program does not obligate it to sell any bitcoin and has no fixed expiration date.
This story is an excerpt from the Unchained Daily newsletter.
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Strategy also announced a USD Reserve Policy, setting a minimum reserve floor of 12 months of coverage, with any reduction below that threshold requiring separate board authorization.
Strategy said its USD reserve stood at approximately $2.55 billion as of June 28, providing roughly 17.4 months of coverage against the company’s current annual expected preferred dividend payments and interest expense of about $1.76 billion. Combining the cash reserve with the new $1.25 billion bitcoin monetization capacity, Strategy says it has approximately 25.9 months of total liquidity coverage, before accounting for repurchases or future dividend changes.
Two new repurchase programs round out the framework. Strategy authorized up to $1.0 billion to repurchase its Digital Credit Securities, the umbrella term for its preferred stock classes (STRC, STRF, STRD, and STRK), with STRC expected to be the initial priority if management determines repurchases would be accretive. A separate $1.0 billion authorization covers buybacks of Class A common stock. Neither program will be funded from the USD Reserve; if funded through bitcoin sales, those sales would come under the new BTC Monetization Program.
Strategy also raised the STRC dividend rate to 12.00%, effective for dividend periods with record dates on or after July 1, up from the prior 11.5% rate. The company said its objective remains for STRC to trade in a range of $99 to $100, and that it will now evaluate the dividend rate monthly based on trading levels, market yields, credit spreads, bitcoin price and volatility, and the company’s broader capital structure. Strategy added that it “will not necessarily increase the STRC dividend rate solely because STRC trades below its stated amount,” a signal that future dividend hikes are not automatic.
Strategy CEO Phong Le described the company’s new framework as moving “from one-way capital issuance to active capital management,” while CFO Andrew Kang said the company now has the flexibility to use bitcoin holdings “to strengthen Digital Credit, fund or replenish the USD Reserve, fund dividend payments and interest expense, and fund accretive repurchases when BTC monetization is more advantageous than issuing common equity.”
Founder Michael Saylor maintained the company’s underlying commitment to bitcoin in the announcement: “Strategy remains committed to Bitcoin as its primary treasury reserve asset. At the same time, Digital Credit requires liquidity, discipline, and active capital management.”
The announcement follows a stress test on Strategy’s funding model that intensified through June, as STRC’s slide below par and MSTR’s discount to its bitcoin closed off both of the company’s traditional capital-raising channels at once.
Related Listen: How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks
Merlijn says Garlinghouse should not be attacking Saylor since Ripple funds itself by selling XRP from escrow every month.
As more opinions on Strategy’s latest bitcoin (BTC) moves surface within the crypto community, trader Merlijn has countered Ripple CEO Brad Garlinghouse’s stance on the matter.
In a tweet addressing Garlinghouse’s remarks on Strategy’s recent BTC sale, Merlijn insisted that both Ripple and the business intelligence firm use the same funding models. In other words, the Ripple CEO is in no position to reprimand Strategy and Michael Saylor when they have similar approaches to the market.
Trader Challenges Garlinghouse’s Comments on Strategy Over the weekend, CryptoPotato reported that Garlinghouse said during an interview with CNBC that Strategy’s Bitcoin model is hurting the crypto market. The leading Bitcoin treasury firm broke its BTC purchase streak weeks ago and sold some part of its holdings. The move sparked an uproar in the market, as the company has been one of the major drivers of BTC demand.
Although Strategy subsequently resumed BTC purchases, that sale triggered a lot of criticism from big names and market experts. Garlinghouse was of the opinion that Saylor has not been focused on how to build a strategy around the right features of BTC. He said the company’s purchase model added some excitement as BTC rallied; however, the same approach is now compounding negatively as the asset declines.
To the Ripple CEO, Strategy has been using a leveraged purchase model through the company’s Stretch stock, STRC. With the stock trading 25% below its par price of $100, the market is beginning to witness how Strategy’s model compounds negatively when BTC corrects. Garlinghouse believes Strategy should focus on creating long-term value and utility, not financial engineering through its BTC funding model.
Two Giants, Same Model Although Merlijn believes Ripple CEO is right about STRC being in distress, the trader says Garlinghouse should not be attacking Saylor. Since Ripple funds itself by selling XRP from escrow every month, the company shares a similar model with Strategy.
In Merlijn’s eyes, Strategy and Ripple are just two giants with similar funding models that lean on the market they are defending. Since the funding models of both entities contribute to selling pressure for their individual assets, Merlijn sees no point in Garlinghouse’s criticism. It truly is quite ironic that Garlinghouse, who does not champion the “never sell your XRP” mantra, would reprimand Strategy for one bitcoin sale.
You may also like: Is XRP Ready for a Reversal? Wallets Surge as FOMO Hits 3-Month Peak XRP Whales Are Moving On, and Binance Is No Longer Their Top Choice Everyone Expects XRP to Crash Further: Is Ripple About to Surprise the Market? Tags:
Ripple CEO Brad Garlinghouse has publicly criticized Michael Saylor’s Bitcoin acquisition strategy at Strategy Inc. He argued that Strategy’s financial engineering has increased volatility and hurt the broader crypto market.
Ripple CEO Brad Garlinghouse Slams Michael Saylor’s Bitcoin Funding Strategy Ripple CEO Brad Garlinghouse took to X and blamed Michael Saylor’s Strategy for the crypto market slump again. He also quoted that “Financial engineering doesn’t drive long-term value. utility does”
The post came shortly after a CNBC Squawk on the Street highlighted his interview comments. In the interview, Garlinghouse directly addressed Strategy’s Bitcoin funding approach under Executive Chairman Michael Saylor:
I think team Michael Saylor wasn’t focused on the right stuff, and that has hurt the overall market.
Ripple CEO Brad Garlinghouse claimed he is still bullish on Bitcoin. However, he slammed Strategy’s use of preferred stock issuance and other financing tools to aggressively accumulate Bitcoin as a form of leverage. He explained that it “added some excitement on the way up and now that’s compounding on the way down.”
Garlinghouse pointed to the sharp decline in STRC, Strategy’s perpetual preferred stock, below its $100 par value. However, STRC closed 12.20% higher at $83.67 after Michael Saylor’s Strategy announced digital credit repurchase, 12% dividend, and a $3.80 billion cash reserve plan.
Crypto Market Slump and Bitcoin Selling Pressure Ripple CEO Brad Garlinghouse’s comments came as Bitcoin fell below $60K while XRP faces a drop below $1 amid broader crypto market volatility. The next XRP support levels based on volume are $0.80, $0.62, and $0.51, as per on-chain data.
Meanwhile, Michael Saylor’s Strategy has announced Bitcoin Monetization Program to sell BTC to fund the USD Reserve, STRC dividend, and MSTR stock repurchase. This triggered a sharp 12.60% rebound in MSTR stock on Monday.
However, Bitcoin sales by Strategy may lead to a further drop in Bitcoin and a crypto market crash. Bitcoin analysts remain cautious as BTC is trading below the key 200-week moving average.
The crypto prices remain in a correction phase, with participants watching for signs of stabilization. Ripple CEO remarks spotlight headwinds for the cryptocurrency market, with the company focusing on building real-world utility to boost adoption for the next wave of bull market.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
US spot Bitcoin ETFs hemorrhaged $231 million on June 29, extending a painful streak to eight consecutive days of net withdrawals. Spot Ethereum ETFs joined the exodus with $30 million leaving the same day, according to data from SoSoValue.
The June rout by the numbers The $231 million Bitcoin outflow on June 29 wasn’t even the worst single day this month. On June 10, Bitcoin ETFs saw $214 million in redemptions while Ethereum products lost $35.6 million.
June 2026 is on pace for over $4 billion in total outflows from US spot Bitcoin ETFs. That would make it the largest monthly decline since these products first hit the market in January 2024.
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BlackRock’s IBIT, the dominant fund in the space, has been a significant contributor to the recent redemptions.
On the Ethereum side, the $30.043 million net outflow on June 29 is smaller in absolute terms but still part of a broader negative trend. Ethereum ETFs have historically shown mixed flow patterns, oscillating between modest inflows and outflows. But June has tilted firmly negative.
What’s driving the pullback The short answer: macroeconomics. Rising interest rates make safe-haven assets like Treasury bonds more attractive relative to volatile ones like crypto. When a money market fund pays you a competitive yield for doing essentially nothing, the case for sitting in Bitcoin through a choppy stretch gets harder to make, especially for institutional allocators who answer to risk committees and compliance officers.
What’s changed is the duration and consistency of the selling. Previous outflow episodes tended to reverse within a few days as dip-buyers stepped in. Eight straight days without a positive session suggests something more structural is happening beneath the surface.
What this means for investors For traders watching this space, a few things are worth monitoring closely. First, whether the outflow streak breaks. Second, keep an eye on IBIT specifically. BlackRock’s fund is the bellwether for institutional sentiment in crypto ETFs.
Third, watch the macro calendar. Any shift in Fed rate expectations, whether from economic data surprises or central bank commentary, could rapidly change the calculus for institutional allocators. Crypto’s correlation with rate-sensitive assets means that a dovish surprise could reverse outflows just as quickly as hawkish expectations triggered them.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Altcoins remain one of the weakest parts of the crypto market, with most Binance-listed tokens still trading below a key long-term trend line.
Summary
Altcoins face broad technical weakness as 84% of Binance listings sit below 200-day averages. The eight-month slump ranks second-longest since 2020, behind the previous bear market drawdown cycle period. Current prices show limited rebounds, with Bitcoin near $59,464 and Ethereum near $1,588 today levels. CryptoQuant analyst Darkfost said about 84% of altcoins available for spot trading on Binance now trade below their 200-day moving averages.
The 200-day moving average tracks an asset’s average price over roughly the past 200 trading days. Traders often use it to measure whether a market has long-term strength or weakness. Darkfost described the current setup as “total underperformance” across most altcoins listed on the exchange.
Altcoin slump becomes second-longest since 2020 The weak trend has lasted nearly eight months, making it the second-longest altcoin underperformance streak since 2020. Darkfost said the only longer period came during the previous bear market, when the same condition lasted about 10 months.
Altcoins performance, source: CryptoQuant analyst Darkfost The analyst also said “every attempt at a momentum recovery has failed outright.” Total 3, a measure of the altcoin market excluding Ethereum, has also closed below its 200-day moving average on the weekly chart. That adds pressure because the weakness is not limited to small tokens.
Market prices show mixed moves Crypto.news market data showed Bitcoin trading at $59,464, down 1.06% over 24 hours and 6.08% over seven days. Ethereum traded at $1,587.79, up 0.4% in 24 hours but down 7.22% over the week.
Some large altcoins showed small daily rebounds. Solana traded at $73.91, up 1.62% over 24 hours and 4.18% over seven days. Hyperliquid traded at $65.39, up 3.74% on the day, while Zcash traded at $398.97, up 3.81% over 24 hours but down 9.09% over seven days.
Bitcoin link remains strong Darkfost said altcoins have stayed highly tied to Bitcoin’s price action during this cycle. That link matters because weak Bitcoin demand can limit altcoin rebounds, even when some tokens post short-term gains.
As previously reported by crypto.news, Darkfost recently flagged a rise in BTC flows into Binance after Bitcoin moved below $60,000. He said average monthly inflows into Binance doubled from 3,880 BTC to 7,600 BTC since April 13, creating possible sell-side pressure.
As reported by crypto.news, crypto search interest has also fallen to a one-year low. That report said retail attention is lower than during the 2022-2023 bear market, even though prices remain far above old cycle lows.
Selective buying becomes harder Darkfost said long weak periods have “historically also presented medium-term opportunities.” He added that finding them now requires more careful asset selection than in earlier cycles.
That view fits the current split in the market. As reported by crypto.news, Hyperliquid and Zcash recently led parts of the altcoin market, but analysts warned that crowded sentiment and stretched indicators could raise pullback risk.
The analysis of weekly flows on spot crypto index funds reveals an unprecedented fracture within the sector, challenging the idea of a monolithic institutional block. This data is important, because it shows that professional investors no longer blindly put their money into the two dominant assets, but are beginning to choose growth alternatives.
In brief Bitcoin ETFs record one of the largest waves of capital outflows in their history, driven by massive withdrawals at BlackRock, Fidelity, and Grayscale. Ether funds extend their bad streak with a seventh consecutive week of outflows, revealing a sustained loss of confidence from institutional investors. HYPE and XRP ETFs attract new capital, illustrating a reorientation of flows towards assets considered more promising. This redistribution of investments reflects a sector rotation strategy rather than an institutional withdrawal from the crypto market, a sign of increasingly fine selection of opportunities. The great capital exodus outside Bitcoin funds The institutional financial vehicle segment of the market leader has just experienced a historic decline. For the week of June 22 to 26, 2026, spot Bitcoin ETFs experienced net outflows of 1.79 billion dollars. This massive disengagement represents the third highest week of net outflows in history. Such a liquidation movement shows that “the image of an inexhaustible institutional demand for bitcoin today faces continuous pressure”.
The financial purge peaked with BlackRock, whose IBIT fund lost 1.3 billion dollars. This movement extended systemically to all major facilitators in the U.S. market, with the sale of 314.9 million dollars from Fidelity’s FBTC fund and an outflow of 135.3 million dollars at Grayscale with GBTC.
The data consolidated by statistical tracking platforms confirm that selling pressure was widespread, leaving almost no respite for secondary traditional finance structures :
Managers on the front line : outflows hit Invesco’s BTCO fund for 53 million dollars, Ark & 21Shares’ ARKB for 37.8 million dollars, and Bitwise’s BITB for 34.6 million dollars ; Low-cost structures impacted : even competitive vehicles like VanEck’s HODL and Franklin’s EZBC recorded respective outflows of 6.4 million and 3.1 million dollars ; Derisory compensations : the rare inflows seen on Grayscale’s Bitcoin Mini Trust (+71.7 million $), Morgan Stanley’s MSBT (+26.2 million $), and WisdomTree’s BTCW (+3.4 million $) were not enough to reverse the negative trend set by BlackRock. Ether trapped in a systemic outflow spiral While the Bitcoin product sector plunged into the red, a distinct but equally concerning temporal and structural movement affected spot Ether ETFs. They experienced 273 million dollars of net outflows, extending a streak now lasting seven consecutive weeks of outflows for the category.
Day-to-day flow tracking reveals methodical erosion: Monday started with a decline of 66.38 million dollars on BlackRock’s ETHA, followed by Tuesday at minus 82.35 million dollars despite a rebound of 15.69 million dollars towards Fidelity’s FETH fund. On Wednesday, 30.24 million dollars evaporated with no recorded inflow, before Thursday and Friday sealed this weekly decline with respective outflows of 81.87 million and 12.85 million dollars, both driven by liquidations of the ETHA fund.
This prolonged distrust towards Ether is partly due to a technical repositioning of institutional portfolios that struggle to find a short-term growth catalyst on this asset. The daily arbitrages show mathematical regularity in selling, indicating investors are actively reducing their exposure to the historic smart contract network in favor of other opportunities. Unlike Bitcoin, which still benefits from some residual flows through private banks like Morgan Stanley, Ether suffers from an obvious lack of growth drivers among big brokers and undergoes pressure from continuous redemptions, with no other support than BlackRock’s product.
The unexpected surge of HYPE and XRP Conversely, this disaffection around these two major players did not cause a definitive rout outside the crypto ecosystem, but rather a redeployment of liquidity towards more attractive opportunities. Spot HYPE ETFs have established themselves as the indisputable stars of the market by capturing 111 million dollars of net inflows. Indeed, the scenario behind this performance is particular. After a flat week from Monday to Wednesday and modest gains of 1.46 million on Tuesday and 1.82 million on Friday, order books were flooded on Thursday with a large buying wave of 108.09 million dollars.
At the same time, XRP ETFs showed impressive consistency with 22.99 million dollars of net inflows, marked by an inflow of 5.31 million dollars on Monday via Bitwise, 2.05 million on Wednesday via Grayscale, and a final push on Friday of 15.63 million dollars. Solana, on the other hand, stayed out of this altcoins rally, with a net loss of 1.81 million dollars over the week.
Ultimately, the consolidated weekly balance closes with a decline of more than 2 billion USD for the dominant block. However, one cannot interpret these capital movements as a sign of a global disinterest from institutional investors in the Web3 universe. The market shows a new technical maturity: investors are not leaving crypto ETFs, but they are carrying out deep strategic and sectorial rotations.
This increased selectivity indicates that fund managers are now diversifying their backup portfolios by “rewarding products with clearer momentum and temporarily cutting their exposure where their conviction has weakened”. In the long run, this redistribution of financial flows could well mark the end of the systematic correlation between the bitcoin price and the performance of next-generation altcoins.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Torsten Slok, Chief Economist at Apollo Global Management, sees the European Central Bank potentially raising rates again in September. The call comes after the ECB already hiked its deposit facility rate by 25 basis points to 2.25% on June 11, its first increase since September 2023.
Slok isn’t alone in this view. A Reuters poll conducted on June 3 found that 49 out of 80 economists expected an additional ECB rate hike at the September meeting. That’s over 60% of surveyed economists betting on more tightening before year-end.
The end of easy money in Europe The June hike marked a decisive shift toward a more hawkish stance, driven largely by inflationary pressures tied to the ongoing Iran conflict. Energy costs, supply chain disruptions, and geopolitical uncertainty have forced the ECB’s hand in ways that seemed unlikely just months ago.
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The ECB’s next scheduled meetings are July 23 and September 10. If Slok and the majority of polled economists are right, the September meeting could bring the deposit rate to 2.50%.
Slok’s credentials lend weight to the prediction. He’s served as Apollo’s Chief Economist since 2020, following 15 years at Deutsche Bank and earlier stints at the IMF and OECD.
What rising eurozone rates mean for crypto When central banks raise rates, the opportunity cost of holding non-yielding assets goes up. Research on the transmission channels between ECB policy and digital asset prices has identified what economists call portfolio rebalancing effects. Rising long-term rates in the eurozone put downward pressure on Bitcoin and Ethereum as institutional investors shift allocations toward newly attractive fixed-income instruments.
The market reaction to the June hike itself was relatively muted. Traders appeared more focused on US inflation data at the time, treating the ECB move as largely priced in.
Both Bitcoin and Ethereum have historically responded negatively to rising long-term interest rates.
What investors should be watching The July 23 ECB meeting will be the next inflection point. Even if the bank holds rates steady in July, the language in its policy statement and press conference will be dissected for clues about September. Forward guidance could move markets well before the actual September 10 decision.
With over 60% of economists now anticipating another eurozone rate increase, crypto traders should treat ECB meeting dates with the same seriousness they give to FOMC announcements. Traders positioned in Bitcoin and Ethereum should be modeling scenarios for both outcomes, because at 2.25% and potentially climbing, the ECB’s deposit rate is no longer something crypto markets can afford to ignore.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TL;DR Bitcoin ETFs in the U.S. recorded a $231 million net outflow, extending withdrawals to eight consecutive trading days. Spot Ethereum ETFs also remained under pressure, posting $30.043 million in net outflows on June 29. ARKB and BlackRock’s ETHA led their respective markets in single-day inflows despite the broader selling trend. June is on course to become the worst month for U.S. spot Bitcoin ETFs since their launch, with nearly $4 billion in cumulative outflows. U.S. spot Bitcoin ETFs extended their losing streak on June 29 after recording a combined net outflow of $231 million, while spot Ethereum ETFs posted $30.043 million in net withdrawals, according to SoSoValue data. The latest figures mark the eighth consecutive trading day of net outflows for both crypto investment products.
Despite the broader wave of withdrawals, some funds still attracted fresh capital. Ark Invest and 21Shares’ ARKB registered the largest single-day inflow among Bitcoin ETFs at $49.969 million, while BlackRock’s ETHA led Ethereum ETF inflows with $5.869 million. However, those gains were insufficient to offset heavier redemptions across the broader market.
Bitcoin Spot ETFs See $231 Million Outflow as Ether ETFs Lose $30 Million
According to SoSoValue data, on June 29 (Eastern Time), Bitcoin spot ETFs recorded a total net outflow of USD 231 million, while Ark Invest and 21Shares’ ARKB saw the largest single-day net inflow at USD… pic.twitter.com/aTlpGB9mIM
— Wu Blockchain (@WuBlockchain) June 30, 2026
The latest decline comes as June shapes up to be the weakest month for U.S. spot Bitcoin ETFs since they began trading in January 2024, with cumulative outflows nearing $4 billion.
ARKB and ETHA Defy Broader Ethereum and Bitcoin ETFs Outflow Trend Although investor sentiment remained largely negative, ARKB and ETHA stood out by attracting fresh inflows while many competing funds continued to lose assets. Their positive performance suggests that some investors are still selectively allocating capital to crypto ETFs despite the broader market pullback.
However, the overall trend remains firmly negative. Bitcoin ETFs have now posted eight straight sessions of net redemptions, indicating a more prolonged period of selling than previous pullbacks as the Bitcoin price slips below $60,000. These are often followed by a quick rebound in demand. Ethereum ETFs have followed a similar path, with June largely characterized by persistent outflows after months of mixed fund flows.
According to on-chain data, from June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion. Spot Ethereum ETFs saw net outflows of $273 million, marking seven consecutive weeks of outflows as institutional interest dwindles.
Spot Bitcoin ETFs Saw $1.79B in Net Outflows Last Week, Third-Highest Weekly Outflow on Record
From June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion, marking the third-highest weekly net outflow on record. Spot Ethereum ETFs saw net outflows of… pic.twitter.com/6CDFFVY68L
— Wu Blockchain (@WuBlockchain) June 29, 2026
Spot XRP ETFs recorded net inflows of $22.99 million, while spot HYPE ETFs saw net inflows of $111 million.
Macro Uncertainty Continues to Pressure Crypto ETFs Market observers attribute the sustained withdrawals largely to the current macroeconomic environment. Elevated interest rates have boosted the appeal of lower-risk assets such as government bonds and money market funds, prompting some institutional investors to scale back exposure to more volatile assets like Bitcoin and Ethereum.
Investors are now closely watching upcoming economic data and any changes in U.S. Federal Reserve policy expectations, as shifts in the interest-rate outlook could influence capital flows into risk assets. Market participants will also be monitoring whether the current outflow streak finally comes to an end, as a return to sustained inflows could signal renewed confidence in the crypto ETF market.
According to SoSoValue data, total net assets held by U.S. spot Bitcoin ETFs stood at approximately $73.19 billion following the latest trading session, highlighting that despite recent selling pressure, the products remain a major channel for institutional cryptocurrency investment.
Leading cryptocurrencies pared losses Monday, while stocks closed higher as investors priced in a further easing of tensions between the U.S. and Iran following weekend hostilities.
Crypto Market Recoups LossesBitcoin rose in the early trading hours, but failed to cross the $61,000 barrier. Trading volume surged 82% over the last 24 hours. Ethereum rallied in the afternoon, hitting a high of $1,633 intraday before slipping back below $1,600.
Over $300 million was liquidated from the cryptocurrency market in the last 24 hours, with short traders facing the majority of the losses, according to Coinglass data
Bitcoin’s open interest increased modestly by 0.80% over the last 24 hours. Interestingly, retail and whale derivatives traders on Binance lowered their long positions in the leading cryptocurrency.
"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.2 trillion, following a dip of 0.79% over the last 24 hours.
Stocks Rally Ahead Of Doha MeetingStocks started the new trading week on a high. The Dow Jones Industrial Average rallied 306.63 points, or 0.59%, ending at 52,182.74. The S&P 500 lifted 1.18% to close at 7,440.43, while the tech-heavy Nasdaq Composite rose 2.07% to settle at 25,820.14.
President Donald Trump said that a meeting with Iran is scheduled for Tuesday in Doha, Qatar. The discussions are reportedly aimed at managing the Strait of Hormuz and reducing tensions after weekend exchanges of attacks between the two sides.
Where Is Bitcoin Headed?On-chain analytics firm CryptoQuant noted that Bitcoin’s Long Term Holder Spent Output Profit Ratio was approaching 1—a historically rare condition that has marked “generational buying opportunities.”
The metric is used to determine whether investors who have held their Bitcoin for more than 155 days are selling at an aggregate profit or loss. The current reading indicates long-term holders are moving coins at or near a loss.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that Bitcoin has started the week well, forecasting a “very likely” breakout above $61,000.
“The bullish divergences are still applicable here, indicating that there’s the upside ready to come,” Van De Poppe said.
Photo Courtesy: PJ McDonnell on Shutterstock.com
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The broader cryptocurrency market remains under pressure with Bitcoin (BTC) below $60,000 on Tuesday, while Solana (SOL), Zcash (ZEC) and Hyperliquid (HYPE) emerge as top performers over the last 24 hours. Retail sentiment remains bearish with the Fear and Greed Index around 17 on Tuesday, during early Asian hours, maintaining an “Extreme Fear” signal.
Fear and Greed Index. Source: CoinMarketCapBitcoin remains muted near $60,000Bitcoin edges below $60,000 at press time on Tuesday amid a broader bearish bias, with price waiting for the next catalyst for a directional push. The 50-day Exponential Moving Average (EMA) is at $66,698, and the 200-day EMA is at $77,512, reaffirming the prevailing downtrend.
BTC is also pinned just under the horizontal barrier at $60,000, while the earlier upward support trendline now acts as a broken structural reference near $74,131. That said, momentum is stabilizing on the daily chart as price consolidates near $60,000. The Moving Average Convergence Divergence (MACD) is turning marginally positive above its signal line, and the Relative Strength Index (RSI) is recovering toward 33, which hints at fading selling pressure but not yet a decisive shift in trend.
On the topside, immediate resistance appears at the $60,000 horizontal level, followed by the 50-day EMA at about $66,698, which reinforces the broader cap on recovery attempts. Above that, the prior trendline break area around $74,131 and the 200-day EMA near $77,512 mark deeper layers of overhead supply that would need to be reclaimed to weaken the prevailing bearish structure.
BTC/USDT daily price chart.Looking down, a slip below the June 25 low at $58,115 could drop BTC toward the $53,485 support level, marked by the July 5, 2024 low.
SOL, ZEC and HYPE post mild recovery gainsSolana is trading around $75 on Tuesday, following a 5% rebound the previous day. The recovery aligns with an inflow of $5.52 million into SOL-focused Exchange-Traded Funds (ETFs) on Monday, suggesting fresh institutional support this week.
SOL ETFs data. Source: SosovalueFrom a technical perspective, the 50-day and 200-day EMAs at around $75.23 and $98.03, respectively, reaffirm the capped long-term trend. A decisive push above the 50-day EMA around $75.23 could further extend gains toward the broader trend barrier at the 200-day EMA near $98.03.
Solana has bounced off recent lows, pushing the MACD and signal line higher toward the zero line, while the RSI at 55 crosses above the midline, hinting at a recovery phase. Yet these positive signals remain constrained by the overhead moving average structure.
SOL/USDT daily price chart.Zcash hovers around $400 on Tuesday, after an 8% rise on Monday, crossing above its 200-day EMA at $380. The privacy coin projects a possible double-bottom reversal from the 20-day EMA, near the 50% retracement level at $356, measured from the $184 to $690 upswing.
Momentum shows a decline in bearish pressure, with RSI at 42 indicating an uptick while the MACD prepares for a potential bullish crossover above its signal line.
If ZEC clears the 50-day EMA at $454, it could target the 78.6% Fibonacci retracement level at $520.
ZEC/USDT daily price chart.On the downside, immediate support is seen around $356, guarding the $300 round figure, followed by the 23.6% Fibonacci retracement level at $251.
Finally, Hyperliquid shows steady behavior around $66 on Tuesday, following a nearly 9% rebound from the 50-day EMA at $60.08 on Monday. Similar to SOL, the rebound in HYPE coincides with a $2.23 million inflow into US spot HYPE ETFs on Monday.
HYPE ETFs data. Source: SosovalueMomentum indicators on the daily chart suggest the broader uptrend is intact, with the RSI at 53 holding above the midline while the negative MACD histogram contracts, hinting at waning downside momentum.
The 78.6% Fibonacci retracement level at $66.22 serves as the immediate resistance, measured over the upswing from $38.17 to $76.93. A decisive close above this resistance zone could target the all-time high level of $76.93, followed by the 127.2% Fibonacci extension level at $93.08.
HYPE/USD daily price chart.Looking to the downside, the 50-day EMA at $60.08 emerges as immediate support, followed by the 50% retracement level at $54.19.
(The technical analysis of this story was written with the help of an AI tool.)
Key Takeaways Bitcoin’s limited supply of 21 million coins and expanding institutional adoption make it the most stable long-term cryptocurrency investment. Ethereum maintains dominance in smart contract platforms, hosting the largest DeFi ecosystem and billions in stablecoin volume. Solana’s high-speed transactions and minimal fees have driven significant growth in stablecoin usage and decentralized applications. Chainlink serves as critical blockchain infrastructure, enabling smart contracts to access external data through its oracle network. Sui represents a high-potential mid-cap opportunity with advanced technology and expanding ecosystem adoption. Investors seeking sustainable cryptocurrency positions are being advised to prioritize fundamental strength over market volatility. A comprehensive analysis identifies five digital assets demonstrating robust adoption metrics, active development communities, and significant institutional backing.
Bitcoin (BTC) Bitcoin secures the top position as the premier long-term cryptocurrency investment. As the pioneering digital asset, its supply is permanently limited to 21 million units.
Bitcoin (BTC) Price The introduction of spot Bitcoin exchange-traded funds alongside increasing corporate treasury allocations has accelerated institutional participation significantly. Analysts characterize Bitcoin as delivering the most favorable risk-adjusted returns within the digital asset sector.
Ethereum (ETH) Ethereum serves as the backbone infrastructure for a substantial portion of the cryptocurrency marketplace. The platform hosts thousands of decentralized applications and commands the industry’s most extensive decentralized finance infrastructure.
Ethereum (ETH) Price Multi-billion dollar stablecoin operations execute primarily on Ethereum’s network. The platform is increasingly central to the tokenization of traditional financial assets.
While facing competition from emerging blockchain platforms, Ethereum consistently attracts developer talent at an unmatched rate. This sustained development activity represents a primary factor supporting its position as a compelling long-term asset.
Solana (SOL) Solana distinguishes itself through exceptional processing speeds and minimal transaction costs. These technical advantages have enabled the network to capture market share across DeFi protocols, non-fungible tokens, payment systems, and consumer-facing applications.
The blockchain has recorded substantial increases in both stablecoin transaction volume and decentralized exchange activity. Institutional capital allocation toward Solana has similarly accelerated, according to market data.
Chainlink (LINK) Chainlink operates within a distinct category compared to traditional blockchain platforms. Rather than processing transactions directly, it delivers essential infrastructure enabling smart contracts to interact with external information sources.
Its decentralized oracle network is considered fundamental to DeFi operations. The Cross-Chain Interoperability Protocol has gained particular traction among institutions exploring tokenized asset applications.
Sui Sui emerges as a compelling growth-oriented selection within the mid-capitalization segment. Built using the Move programming language, the platform prioritizes transaction throughput and network scalability.
The ecosystem has demonstrated expansion across gaming platforms, DeFi protocols, and mainstream consumer applications. While analysts acknowledge higher volatility compared to established cryptocurrencies, Sui presents substantial upside potential contingent on continued adoption.
Constructing a Balanced Crypto Portfolio The analysis proposes a strategic allocation framework for investors pursuing long-term positioning. The suggested distribution designates 35 percent to Bitcoin, 25 percent to Ethereum, 20 percent to Solana, 10 percent to Chainlink, and 10 percent to Sui.
This allocation strategy seeks to balance the stability characteristics of established cryptocurrencies with the expansion potential of emerging platforms. The framework acknowledges that no individual asset guarantees positive returns.
Each selected cryptocurrency addresses a distinct market function. Bitcoin provides store-of-value stability, Ethereum delivers smart contract infrastructure dominance, and Solana offers exposure to high-performance blockchain technology.
Chainlink furnishes the data connectivity layer between blockchain networks and external information sources. Sui provides access to an emerging high-performance network with accelerating growth metrics.
The analysis concludes by emphasizing that cryptocurrency investments inherently involve substantial risk and price fluctuation. Concentrating on assets demonstrating strong fundamental characteristics and tangible real-world applications may enhance long-term portfolio performance.
Bitcoin, Ethereum, Solana, Chainlink, and Sui represent the core components of this fundamentals-focused investment strategy for July 2026.
Sign Of Good Things To Come?Bull Theory interpreted the rally of MSTR stock and Perpetual Stretch Preferred Stock (NASDAQ:STRC) as evidence that Strategy is about to execute buybacks on both, not just leave the authorization unused.
“This is optimism building around active capital management rather than just Bitcoin accumulation, the market is betting Strategy can actually defend STRC’s price this time,” the market commentator said.
Khing Oei, Founder and CEO of Treasury, praised the framework, adding,” That is how a Bitcoin-backed credit business is supposed to operate. And these are the types of strong actions by management that are required in times of market stress.”
Will The Rally Stall?Popular cryptocurrency analyst Crypto Rover, however, questioned the new framework, noting that a company that is increasing payouts merely to keep the structure intact may not be as robust as it appears.
The analyst also wondered if the latest spike is a “dead cat bounce dressed as a comeback.”
Ali Martinez, a widely followed cryptocurrency analyst and trader, turned bearish on MSTR after confirming a head-and-shoulders pattern on the stock’s weekly chart
The head and shoulders chart pattern depicts a bullish-to-bearish trend reversal, signaling that an upward trend is nearing its end.
The analyst set a downside target of $28, marking a 70% drop from current levels.
More Bitcoin Sales On The Horizon?The sweeping new framework is designed to strengthen Strategy’s preferred securities, enhance liquidity and preserve long-term Bitcoin exposure.
The key aspect is a new Bitcoin monetization program that lets the company sell BTC to raise up to $1.25 billion for cash reserves, pay preferred dividends and interest on debt, and support repurchases of preferred and common stock.
However, the new framework drew sharp criticism from longtime Bitcoin critic Peter Schiff, who said that the Michael Saylor-founded firm is transitioning from being Bitcoin’s largest corporate buyer to a Bitcoin seller.
Price Action: At the time of writing, BTC was exchanging hands at $59,639.58, down 0.61% over the last 24 hours, according to data from Benzinga Pro.
Strategy shares rose 0.73% in after-hours trading after closing 12.60% higher at $92.68 during Monday’s regular trading session.
Benzinga’s Edge Stock Rankings indicate that MSTR has underperformed with a weaker price trend across short-, medium-, and long-term timeframes.
Photo: PJ McDonnell / Shutterstock.com
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Animoca Brands co-founder Yat Siu argued this week that AI agents will become crypto’s biggest buyer, with altcoins positioned as the commodities that power an agent-driven economy.
Why Siu Thinks Tokens Become The Commodities Of AISiu’s thesis centers on inference tokens, the units people already spend using OpenAI, Anthropic, and Gemini.
He argues developers can turn those spending patterns into tradable commodities that represent compute and energy, with real burn mechanisms and genuine utility, much like semiconductor chips function as commodities in physical manufacturing.
“You’re already spending tokens for OpenAI and Anthropic and Gemini,” Siu said. “Imagine turning that into a commodity. It’s a representation of compute and energy and there’s real utility,” he added.
Hundreds Of Billions Of Agents Could Eventually Hold Their Own WalletsSiu currently runs 212 AI agents personally through Hello Minds, the platform formerly known as Animoca Minds.
“We humans were the test for the agents,” Siu said, describing the past several years of blockchain scaling work as preparation for agent-driven volume rather than human adoption.
He believes mainstream human adoption of crypto will ultimately follow agents into space rather than the other way around.
NFTs Could Make A Comeback As AI Agents Start Buying Status SymbolsSiu argued NFTs function as a wealth status symbol within crypto, and that AI agents will eventually become NFT buyers themselves to signal identity and credibility.
He pointed to Bored Ape prices recently approaching August 2021 levels as an early signal of renewed strength.
Animoca’s portfolio company Anchor Point recently received one of only two stablecoin licenses issued by Hong Kong’s Monetary Authority, alongside HSBC.
Siu also announced a $10 million funding initiative through Hello Minds specifically for developers building agentic AI applications, framing the current moment as comparable to the earliest days of NFTs and Web3 gaming before those categories matured into multibillion-dollar industries.
Image: Shutterstock
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Think of a mid-sized Japanese hotel company pivoting to become one of the world’s largest corporate Bitcoin holders. That’s Metaplanet in a nutshell.
Metaplanet (TSE: 3350) now counts approximately 212,571 domestic shareholders, a figure that works out to roughly 0.2% of Japan’s population. That shareholder base grew 66% in recent months.
From 10,000 to 212,000 shareholders in two years When Metaplanet launched its Bitcoin treasury strategy in April 2024, the company had around 10,000 shareholders. It blew past 64,000 on the way to today’s 212,571 figure. The company’s long-term target is exceeding one million shareholders.
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Metaplanet is essentially trying to redirect capital toward Bitcoin through the comfort of a traditional stock listing. Strategy, formerly MicroStrategy, pioneered this model in the US.
The company now holds 40,177 BTC, making it Asia’s largest corporate Bitcoin holder and the third-largest among public companies globally, behind Strategy and Twenty One Capital. It purchased 5,075 BTC in Q1 2026 alone as part of its ongoing accumulation push.
Building the infrastructure for Bitcoin yield products In June 2026, the company acquired Siiibo Securities for approximately $13 million. The deal gives Metaplanet a Type I financial instruments business license, which is the regulatory key needed to sell Bitcoin-linked yield products directly to Japanese investors.
The company is also pursuing a $5.4 billion equity facility, denominated at roughly 770.9 billion yen. That capital is earmarked for buying more Bitcoin. Metaplanet’s stated ambition is to accumulate up to 210,000 BTC in total, which represents 1% of Bitcoin’s total 21 million supply cap.
What this means for investors The dilution risk is a key consideration. A $5.4 billion equity facility means Metaplanet will be issuing a lot of new shares. If Bitcoin’s price rises fast enough, the BTC-per-share metric improves. If Bitcoin stalls or drops, shareholders absorb dilution without the offsetting gain.
If Metaplanet successfully launches Bitcoin yield products for Japanese retail investors via the Siiibo Securities acquisition, it creates a revenue stream beyond simple price appreciation, potentially differentiating it from pure treasury plays.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin remains unable to reclaim the $61,000 level since Thursday. Although the risk appetite has improved following a 60-day ceasefire agreement between the US and Iran, which pushed oil prices lower, this optimism has yet to translate into a sustained recovery in the cryptocurrency market. Notably, the sharp increase in demand for downside price protection has prompted investors to revisit the possibility of Bitcoin falling to $55,000.
Surge in demand for put options signals investor cautionAccording to data from Deribit, premiums paid for Bitcoin put options soared to $115 million on Friday, compared to just $16 million paid for call options. This imbalance between puts and calls marks the highest level seen over the past 12 months. While these figures point to waning bullish sentiment, they also indicate that sellers are not fully confident in the market’s direction.
On Monday, Bitcoin’s 30-day delta skew ratio was measured at 19%, suggesting that market makers remain reluctant to bear downside risk. Although this trend has been observed for four consecutive weeks, the data shows that as long as Bitcoin struggles to firmly hold above $60,000, demand for downside risk hedging is likely to persist.
Glossary: Delta skew is a metric that represents the difference in risk premiums assigned to upward and downward options contracts. A higher skew indicates greater investor interest in buying protection against declines.
Deribit’s data showing put option premiums exceeding call premiums by a factor of seven underscores an unusually strong demand for downside protection in Bitcoin, far above typical levels.
Strategy’s latest move eases short-term debt concernsPart of Bitcoin’s recent weakness has been linked to concerns regarding dividend payments and the 2027 bond obligations of Strategy, formerly known as MicroStrategy, a company renowned for its Bitcoin-focused corporate treasury. On Monday, the company announced it had raised an additional $1.2 billion in cash through recent equity sales, allocating up to $1.25 billion in Bitcoin to be sold if needed.
These moves have reduced immediate worries over short-term debt, but have also raised fresh questions about the future balance between Bitcoin supply and demand. Even if no direct Bitcoin sales are made in the coming months, some market participants believe the company’s current dividend coverage lessens the pressure to issue new MSTR shares.
Capital flows shift toward tech stocksDeclining inflationary pressures and oil prices at four-month lows have strengthened interest among US investors in equities and other risk assets. Goldman Sachs forecasts a 22% annual earnings growth for S&P 500 companies, providing some reassurance regarding high market valuations.
An analysis from The Kobeissi Letter notes that retail investors are moving out of gold and Bitcoin, redirecting funds toward semiconductor stocks. Bloomberg data confirms over $20 billion flowing into semiconductor-focused exchange-traded funds. As a result, the iShares Semiconductor ETF has climbed 81%, while the VanEck Semiconductor ETF is up 60%.
Meanwhile, US-listed spot Bitcoin ETFs have recorded net outflows for seven consecutive weeks, dampening sentiment among investors hoping for a strong rebound from the June 25 low at $58,050. Continued capital flows into tech stocks and persistent ETF outflows may continue to weigh on market sentiment.
Given these conditions, another test of the $55,000 level cannot be ruled out. Nevertheless, increased demand for downside protection in options trading does not by itself signal that bearish forces are dominating the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The $BTC lending market that imploded with Celsius, BlockFi and Genesis in 2022 is quietly rebuilding, and this time on very different foundations. A new report from @SiliconVlyBank argues that what was once a lightly regulated corner of crypto is now adopting the conventions of traditional finance: overcollateralized loans, transparent risk management and conservative underwriting.
A Market Rebuilt on Stronger Ground The numbers back the narrative. According to Silicon Valley Bank, citing Galaxy Research data, total crypto-backed lending reached $67 billion in Q1 2026, a 49% increase year over year. The failures of Celsius, BlockFi and Genesis were defining moments. Each firm shared common vulnerabilities: maturity mismatches, excessive leverage and the rehypothecation of customer assets. Today's lenders have responded by requiring borrowers to post significantly more collateral than they borrow in dollars, and by monitoring that collateral continuously.
A landmark deal underlines how far the market has come. In February 2026, lending firm Ledn closed a $188 million Bitcoin-backed asset-backed security, the first Bitcoin-collateralized deal to receive an investment-grade rating from S&P Global. That kind of institutional credibility was unthinkable at the height of the 2022 crisis.
Costs Remain High, But Change Is Coming Borrowing is still expensive. SVB puts current annualized rates for Bitcoin-backed loans at between 7.5% and 16%, well above comparable traditional credit products. But the bank expects that spread to narrow as mainstream banks and private credit funds enter the market. Several major U.S. banks now offer Bitcoin-backed credit facilities, and JPMorgan has reportedly been considering similar products for institutional clients.
SVB also flagged the Lightning Network as a potential efficiency driver, noting that near-instant, low-cost collateral transfers and automated margin calls could make Bitcoin-backed lending more scalable within established financial markets.
The consumer slice of the market remains modest, estimated by Ledn at around $3 billion today. But the firm has argued that figure could scale toward $1 trillion over the next decade as long-term $BTC holders seek liquidity without selling their coins. For now, SVB's report signals that the infrastructure to support that kind of growth is finally being put in place.
Sources:
CoinDesk: Bitcoin-backed lending is making a comeback, according to Silicon Valley Bank
Silicon Valley Bank: The Bitcoin-Backed Lending Renaissance
In brief Shares of Strategy snapped a nine-day losing streak, paring monthly losses on the back of a capital management framework. The Bitcoin-buying firm's flagship preferred stock recovered losses after falling to record lows last week. An analyst described Strategy's framework as a "point-by-point answer" to investor concerns. Shares of Strategy (MSTR) snapped a nine-day losing streak on Monday, rebounding after the Bitcoin-buying firm unveiled a new framework for managing its capital.
The company’s stock popped 12.6% to $92.68, paring monthly losses after Strategy signaled future liquidations of the digital asset would be formulaic, according to Yahoo Finance.
Although Strategy typically starts the week by announcing how much Bitcoin it has recently bought, the firm instead told investors that its so-called USD Reserve had expanded to $2.55 billion, while drawing attention to a “BTC Monetization Program.”
Moving forward, the company indicated that it could generate $1.25 billion in proceeds for its cash cushion by selling Bitcoin, providing it with additional resources to manage dividends and debt. Analysts had previously warned that Strategy’s cash reserves had worn thin.
Meanwhile, Strategy said it may occasionally repurchase common and preferred shares to capitalize on “market dislocations.” What’s more, the company would only issue common shares when the company is valued at a premium relative to its enterprise value.
In the announcement, Strategy Executive Chairman and co-founder Michael Saylor also said that the dividend for Stretch (STRC) had been raised an eighth time, putting it on track to offer 12% annually across distributions that are made twice a month.
STRC rose 12.2% to $83.67, according to Yahoo Finance. Last week, the product fell as low as $71.25, drifting far below the $100 par value at which it is designed to trade. When the product trades at or above that threshold, Strategy issues more of it to purchase Bitcoin.
In a note shared by Mark Palmer, managing director and senior research analyst at Benchmark-StoneX, he described Strategy’s framework as “robust,” while reiterating a “Buy” rating and $570 price target.
“The upshot is that Strategy is now an active manager of both sides of its capital structure, an approach that we view as a significant positive for its shareholders,” Palmer wrote, calling the framework a “direct, point-by-point answer to the concerns investors have been voicing.”
On Monday, Bitcoin changed hands around $60,200, a 1.1% increase over the past day, according to CoinGecko. The digital asset fell as low as $58,200 last week as the sell-off surrounding STRC and Strategy’s common stock intensified.
Strategy’s framework brought clarity to the conditions under which the digital asset could be sold in the future—and to what extent. Still, the company’s shares remained down nearly 42% from $149.93 over the past month, around the time it sold 32 Bitcoin for $2.5 million, marking its first sale since 2022.
Meanwhile, the firm’s Bitcoin stockpile stood unchanged at 847,363 Bitcoin. Valued at $51 billion, the company’s stockpile showed around $13.1 billion in unrealized losses.
On Myriad, a prediction market owned by Decrypt parent company Dastan, traders foresaw a 15% chance that Strategy would hold more than 1 million Bitcoin before year’s end. That marked a slight improvement from 14.5% odds a week ago.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Shares of Strategy snapped a nine-day losing streak, paring monthly losses on the back of a capital management framework. The Bitcoin-buying firm's flagship preferred stock recovered losses after falling to record lows last week. An analyst described Strategy's framework as a "point-by-point answer" to investor concerns. Shares of Strategy (MSTR) snapped a nine-day losing streak on Monday, rebounding after the Bitcoin-buying firm unveiled a new framework for managing its capital.
The company’s stock popped 12.6% to $92.68, paring monthly losses after Strategy signaled future liquidations of the digital asset would be formulaic, according to Yahoo Finance.
Although Strategy typically starts the week by announcing how much Bitcoin it has recently bought, the firm instead told investors that its so-called USD Reserve had expanded to $2.55 billion, while drawing attention to a “BTC Monetization Program.”
Moving forward, the company indicated that it could generate $1.25 billion in proceeds for its cash cushion by selling Bitcoin, providing it with additional resources to manage dividends and debt. Analysts had previously warned that Strategy’s cash reserves had worn thin.
Meanwhile, Strategy said it may occasionally repurchase common and preferred shares to capitalize on “market dislocations.” What’s more, the company would only issue common shares when the company is valued at a premium relative to its enterprise value.
In the announcement, Strategy Executive Chairman and co-founder Michael Saylor also said that the dividend for Stretch (STRC) had been raised an eighth time, putting it on track to offer 12% annually across distributions that are made twice a month.
STRC rose 12.2% to $83.67, according to Yahoo Finance. Last week, the product fell as low as $71.25, drifting far below the $100 par value at which it is designed to trade. When the product trades at or above that threshold, Strategy issues more of it to purchase Bitcoin.
In a note shared by Mark Palmer, managing director and senior research analyst at Benchmark-StoneX, he described Strategy’s framework as “robust,” while reiterating a “Buy” rating and $570 price target.
“The upshot is that Strategy is now an active manager of both sides of its capital structure, an approach that we view as a significant positive for its shareholders,” Palmer wrote, calling the framework a “direct, point-by-point answer to the concerns investors have been voicing.”
On Monday, Bitcoin changed hands around $60,200, a 1.1% increase over the past day, according to CoinGecko. The digital asset fell as low as $58,200 last week as the sell-off surrounding STRC and Strategy’s common stock intensified.
Strategy’s framework brought clarity to the conditions under which the digital asset could be sold in the future—and to what extent. Still, the company’s shares remained down nearly 42% from $149.93 over the past month, around the time it sold 32 Bitcoin for $2.5 million, marking its first sale since 2022.
Meanwhile, the firm’s Bitcoin stockpile stood unchanged at 847,363 Bitcoin. Valued at $51 billion, the company’s stockpile showed around $13.1 billion in unrealized losses.
On Myriad, a prediction market owned by Decrypt parent company Dastan, traders foresaw a 15% chance that Strategy would hold more than 1 million Bitcoin before year’s end. That marked a slight improvement from 14.5% odds a week ago.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin (BTC) trades at an important inflection point as retail investors are selling, big institutions are in a hold despite the discounted valuation and the market is paused at $60,300—awaiting the next significant move. The situation reveals two very different investor groups making opposite bets.
Retail investors sell, TradFi watches
The general mood is fearful, with the Crypto Fear & Greed Index sitting at 36 out of 100, indicating fear but not total panic. This number masks a sharp divide. In June alone, investors pulled $4.4 billion from US spot Bitcoin ETFs—the worst month this year. At the same time, Strategy continues to buy BTC, although the pace and size of its purchases have slowed. While ETF flows and Bitcoin treasury accumulation are not in a buying phase, a majority of corporate BTC treasuries have not reduced their existing positions.
Spot Bitcoin ETF net flows. Source: SoSoValue.com
Leverage unwinds, but slowly
The aggregate open interest in Bitcoin futures contracts across all exchanges is $19.92 billion. Two weeks ago, it was $20.1 billion. This unwinding—when traders close positions to reduce risk—is happening in an orderly way, not in a panic.
The borrowing costs for holding long positions have dropped from 0.25% to 0.12%, suggesting that the worst of the forced selling is over. However, longs are still paying to hold their positions, meaning traders believe in a recovery but aren't willing to bet their full account on it.
The current danger zone is $58,800, Bitcoin's low for the day. If the price breaks below this level, the next $500 million worth of traders holding long positions could be forced to close their trades, sending Bitcoin toward $56,000. That move may extend the selling pressure into next week.
Bitcoin open interest, funding rate. Source: Hyblock
The market is waiting, not acting
When fresh capital flows into Bitcoin, volume spikes and the action shows up in the data. Right now, it doesn't, as trading volume is down, and open interest changes are small. This suggests the market is in an indecisive phase where retail traders may be done selling, but nobody is confident enough to buy in size yet. That's not surprising.
MicroStrategy, which has accumulated Bitcoin for corporate reserves, did buy 3,600 Bitcoin in June for $236 million, betting on a recovery. But overall, institutions are holding rather than aggressively buying. This pause could break in either direction: lower (if one more wave of sellers emerges) or higher (if confidence returns).
For Bitcoin to move meaningfully higher, it needs to reclaim $62,000. The risk is real: a macro news event at any point in the week, like the June employment report or the resumption of military action in Iran, could weigh on investor sentiment and tip BTC back under the $60,000 handle.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Strategy Inc. just did something it rarely does: acknowledged that holding Bitcoin in massive quantities requires, well, an actual plan for when things get bumpy.
On June 29, the company announced what it calls a “Digital Credit Capital Framework,” a multi-pronged liquidity strategy designed to stabilize its stock and securities while keeping its long-term Bitcoin thesis intact. The announcement snapped a nine-day losing streak.
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What the framework actually does The new framework has three main pillars. First, a BTC monetization program that allows Strategy to sell up to $1.25B in Bitcoin. Second, the company authorized up to $2B in buybacks, split evenly between MSTR common stock and its STRC preferred shares, at up to $1B each. Third, the STRC preferred stock dividend rate is set to jump to 12% annually, effective July 1, with the goal of pinning STRC’s trading price close to its $100 par value.
The balance sheet behind the plan Strategy’s current USD reserve sits at roughly $2.55B. According to the company’s own estimates, that cash pile covers between 17 and 26 months of financial obligations, depending on how things shake out. Having nearly two years of runway in fiat currency means the company doesn’t need to panic-sell Bitcoin during a downturn. It can be strategic about when, and whether, it taps that $1.25B monetization program.
Why the losing streak mattered For context, Strategy has spent years transforming itself from a sleepy enterprise software company into the world’s most prominent corporate Bitcoin holder. Under Michael Saylor’s direction, the company accumulated a massive Bitcoin position that dwarfs any other public company’s holdings. The STRC preferred shares had recently traded well below their par value, reflecting pressure from both the declining Bitcoin market and wider economic uncertainties.
What this means for investors The $2B in buyback authorizations is a meaningful amount relative to Strategy’s market presence. The 12% STRC dividend is designed to attract income-focused investors who want exposure to Bitcoin’s upside. If STRC stabilizes near that $100 level, it becomes one of the higher-yielding preferred instruments in the market.
The risk hasn’t disappeared, though. That $1.25B Bitcoin monetization program is a double-edged sword. Selling Bitcoin generates liquidity, but it also reduces the very asset that justifies Strategy’s premium valuation.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ondo Finance’s native token, ONDO, is approaching a critical technical zone that could determine its short-term price direction. As of the time this article was prepared, ONDO was trading at $0.3084, with a 24-hour trading volume of $61.48 million and a market capitalization of $1.5 billion. While trading action has remained relatively subdued over the last day, ONDO’s price structure and rising institutional interest have attracted notable attention in the market.
Technical setup points to a breakout thresholdCrypto analyst Crypto With Gopal has noted that following a recovery from recent lows, ONDO is moving within an ascending wedge pattern. This formation indicates that the token has been registering higher lows, but a persistent overhead resistance suggests that bullish momentum may be starting to wane.
According to Crypto With Gopal, ONDO is nearing a pivotal technical phase; if the price breaks above the upper trendline, a move towards $0.325 is on the table, while a drop below the pattern’s support could trigger short-term selling pressure.
In technical terms, such compressed trading ranges are often viewed as precursors to heightened volatility. Investors are therefore closely watching to see whether ONDO can break above its resistance or hold the ascending support line. Analysts suggest that confirmation of the next move could play a key role in shaping ONDO’s short-term trend.
Data from Token Terminal highlights how blockchain-based exchange-traded funds (ETFs) are increasingly bridging traditional finance and digital asset infrastructure. The overall global ETF market is valued above $20 trillion, while ETF tokens issued on blockchains collectively total less than $450 million in value. This contrast underscores the vast room for growth as real-world assets make further inroads into decentralized finance.
Mini glossary: A tokenized ETF is a blockchain-based digital token that represents a traditional ETF. RWA stands for real-world asset and refers to moving instruments such as stocks, bonds, or funds onto blockchain networks.
Ondo Finance stands out in this niche market, commanding a dominant 74.5% share. The company is known as a fintech platform focused on integrating real-world assets with blockchain infrastructure. Ondo Finance’s strong position in the tokenized ETF segment is widely seen as a sign of institutional investors’ growing appetite for blockchain-based financial products.
Market sentiment remains cautiousDespite these positives, ONDO’s price has yet to confirm a clear direction. Even with a constructive technical outlook and robust standing in the tokenized ETF market, the token remains affected by broader market conditions, particularly Bitcoin’s sideways movement. This cautious atmosphere is consistent with the current behavior observed across many altcoins.
In the short term, attention is focused both on whether ONDO will see a technical breakout and on continued demand for tokenized financial products. A decisive move above the resistance could propel prices toward $0.325, while losing the support line risks triggering a bout of short-term selling.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Cryptocurrency miners are seen in a liquid immersion cooling mining tank at the TMG Core stand during the Bitcoin Conference 2022 in Miami Beach, Florida, U.S. April 6, 2022. REUTERS/Marco Bello Purchase Licensing Rights, opens new tab
CompaniesJune 29 (Reuters) - Bitcoin miner and AI infrastructure firm Ionic Digital filed on Monday to go public through a direct listing.
The company was formed in January 2024 to acquire the cryptocurrency mining assets of Celsius Mining, a subsidiary of Celsius, which received U.S. bankruptcy court approval for a restructuring in November 2023.
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A direct listing allows a company to list its existing shares on an exchange without an underwritten offering. No new shares are created, and insiders can sell their holdings instantly.
Ionic's registered stockholders plan to sell up to 10.8 million shares of common stock in the listing.
As part of Celsius' reorganization, Ionic issued about 37 million Class A shares to Celsius creditors, turning them into shareholders in the new company.
New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one month after freezing customer accounts to prevent withdrawals. It is one of several crypto lenders to go bankrupt following the rapid growth of the industry during the COVID-19 pandemic.
Last week, Ionic raised $400 million at a pre-money valuation of $2 billion in a funding round led by new investors Attestor, Oaktree Capital Management and Sachem Head Capital Management.
Ionic plans to list its shares on Nasdaq under the symbol "IOND". J.P.Morgan, Jefferies and BTIG are the financial advisors for the listing.
Reporting by Pragyan Kalita in Bengaluru; Editing by Vijay Kishore
Our Standards: The Thomson Reuters Trust Principles., opens new tab
June 29 : Bitcoin miner and AI infrastructure firm Ionic Digital filed on Monday to go public through a direct listing.
The company was formed in January 2024 to acquire the cryptocurrency mining assets of Celsius Mining, a subsidiary of Celsius, which received U.S. bankruptcy court approval for a restructuring in November 2023.
A direct listing allows a company to list its existing shares on an exchange without an underwritten offering. No new shares are created, and insiders can sell their holdings instantly.
Ionic's registered stockholders plan to sell up to 10.8 million shares of common stock in the listing.
As part of Celsius' reorganization, Ionic issued about 37 million Class A shares to Celsius creditors, turning them into shareholders in the new company.
New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one month after freezing customer accounts to prevent withdrawals. It is one of several crypto lenders to go bankrupt following the rapid growth of the industry during the COVID-19 pandemic.
Last week, Ionic raised $400 million at a pre-money valuation of $2 billion in a funding round led by new investors Attestor, Oaktree Capital Management and Sachem Head Capital Management.
Ionic plans to list its shares on Nasdaq under the symbol "IOND". J.P.Morgan, Jefferies and BTIG are the financial advisors for the listing.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
For more details, visit the official Beincrypto platform.
TL;DR XRP spot ETF products reportedly extended their inflow streak to eight consecutive weeks. Bitcoin ETFs have moved in the opposite direction, with heavy outflows reported in June. The split suggests investors may be separating broad crypto risk from targeted altcoin exposure. XRP Funds Keep Drawing Inflows XRP-linked ETF products have reportedly extended their inflow streak to eight consecutive weeks, pulling in fresh capital while Bitcoin funds have been dealing with heavy outflows.
That contrast is the story. In a weak market, investors are not simply selling everything crypto-related at the same pace. Some are reducing Bitcoin exposure, while pockets of demand remain for specific assets and wrappers. XRP is one of the names showing up in that rotation.
For readers, this matters because ETF flows are a cleaner signal than social hype. They do not tell the whole story, but they do show where capital is moving through regulated products. If XRP continues to attract inflows while Bitcoin bleeds, it suggests that some investors are making more selective decisions rather than exiting the sector entirely.
What The Bitcoin-XRP Split Says The split between Bitcoin outflows and XRP inflows is especially interesting because Bitcoin is usually treated as the institutional gateway into crypto.
When BTC products lose assets, the easy assumption is that institutional appetite for crypto is weakening. But XRP inflows complicate that view. They suggest investors may still want exposure to certain narratives, even if they are reducing broad market beta.
That does not automatically make XRP stronger than Bitcoin from an investment standpoint. It simply shows a difference in flow behavior. XRP has its own investor base, legal history, payments narrative, and community structure. Those factors can create demand that does not always move in lockstep with Bitcoin.
It also raises a question about maturity in crypto markets. Earlier cycles often moved together: Bitcoin led, altcoins followed, and risk appetite rose or fell as a block. ETF flow divergence suggests a more segmented market, where investors can express narrower views through specific products.
The Caveat For XRP Bulls XRP inflows are constructive, but they should not be treated as a guaranteed price signal.
Flows can support a market, but price still depends on liquidity, broader sentiment, technical structure, and whether new demand is large enough to overcome selling. Inflows also need to persist. One strong streak is useful; a durable trend would be more meaningful.
For Bitcoin, the pressure remains clear. Heavy ETF outflows in June have weakened one of the market’s most important demand channels. For XRP, the opposite is happening: regulated-product demand is still showing signs of life.
The takeaway is not that XRP has “won” the institutional race. It is that crypto flows are becoming more selective. That is a healthier, more complicated market — and one traders will need to read asset by asset rather than assuming everything moves as one trade.
For readers, the useful approach is to treat this as a signal to monitor rather than a standalone trading call, because confirmation still has to come from follow-through in price, flows, and broader market behavior.
—
This article was written by the News Desk and edited by Samuel Rae.
Kiyosaki Says The Pin Is Near For The Biggest Bubble In HistoryKiyosaki posted his boldest price targets yet, predicting gold hits $35,000 an ounce and silver reaches $200 an ounce within a year of the bubble popping.
He paired those calls with $750,000 for Bitcoin and $95,000 for Ethereum, framing all four assets as the winners once the current financial system breaks.
“I do not know what pin, what event will pop the biggest bubbles in history,” Kiyosaki wrote. “It’s not IF. It’s WHEN.”
His targets mark a sharp jump from the $250,000 Bitcoin and $60,000 Ethereum figures he gave back in November, when the ETH number itself sparked confusion since the asset hadn’t traded anywhere near that level.
Cowen Says Bitcoin Closing Below The 200-Week Average Isn’t NewProminent analyst Benjamin Cowen pointed out that Bitcoin’s first weekly close below its 200-week moving average this cycle mirrors exactly what happened in June 2022, the last time Bitcoin broke that same level.
He noted Bitcoin tends to drop into June in multiple cycles, including 2018 and 2022, and that the pattern rarely needs to be more complicated than it looks.
Cowen’s base case calls for Bitcoin to form an early summer low, followed by a counter-trend rally into mid-to-late summer, before a final drop into the actual cycle bottom sometime in the third or fourth quarter.
He said this play would only change if a major blowup, similar to FTX or Luna in the last cycle, triggers a faster price-based capitulation instead of the slower time-based pattern.
Cowen’s preferred strategy is dollar-cost averaging into Bitcoin through the second half of midterm years, a method he said has worked across prior cycles even when short-term drawdowns got worse before recovering.
He’s watching for a volume spike similar to those seen at the end of the 2014, 2018, and 2022 bear markets as the real signal that capitulation has actually happened.
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TL;DR Institutional products tied to Bitcoin and Ethereum reportedly saw net outflows. XRP and HYPE wrappers attracted inflows during the same period. The divergence points to a more selective crypto market, where investors are not treating every asset the same way. Institutions Are Not Just Buying Or Selling Crypto As One Trade Institutional investors reportedly reduced exposure to Bitcoin and Ethereum ETF products while still adding to XRP and HYPE-linked wrappers.
That is a more interesting story than a simple “institutions dumped crypto” headline. The flow picture suggests that investors are becoming selective. They may be cutting broad exposure to the two largest crypto assets while still looking for targeted opportunities elsewhere.
For Bitcoin and Ethereum, outflows are never a great signal in the short term. These products are major access points for traditional capital, and sustained redemptions can weigh on sentiment. But the fact that XRP and HYPE products saw inflows at the same time shows that the entire sector is not being abandoned.
Why Selective Flows Matter Crypto traders often talk about risk-on and risk-off as if the whole market moves together. That is still true during major volatility events, but flow data can reveal a more detailed picture underneath.
If investors are selling BTC and ETH exposure but buying XRP and HYPE, they may be rotating away from broad market beta and toward specific narratives. XRP has its payments and legal-resolution storyline. HYPE has become tied to the Hyperliquid ecosystem and more specialized on-chain trading demand.
That kind of split matters because it changes how traders should think about the market. The question is not just “are institutions bullish on crypto?” It becomes “which crypto exposures are institutions willing to hold during stress?”
That is a much more useful question. It also means Bitcoin dominance, Ethereum sentiment, and altcoin flows may give different signals at the same time.
The Risk In Reading Too Much Into It There is a caveat. Smaller products can show impressive inflows without matching the absolute scale of Bitcoin or Ethereum ETF flows. A modest inflow into an altcoin wrapper does not cancel out much larger outflows from BTC or ETH products.
So the takeaway should be measured. This is not proof that institutions are rotating into altcoins en masse. It is evidence that some targeted altcoin demand has remained active while broad crypto exposure has weakened.
For Bitcoin and Ethereum, the next test is whether outflows slow. For XRP and HYPE, the test is whether inflows continue once the market stabilizes or if they were simply temporary pockets of interest.
The market message is still useful: institutional crypto demand is no longer one-dimensional. Investors are not just buying the whole sector or selling the whole sector. They are separating assets, narratives, and wrappers — and that makes flow data more important than ever.
For readers, the useful approach is to treat this as a signal to monitor rather than a standalone trading call, because confirmation still has to come from follow-through in price, flows, and broader market behavior.
—
This article was written by the News Desk and edited by Samuel Rae.
Bitcoin is caught between a resistance zone and building liquidity above, while Ethereum mirrors a familiar February structure and XRP shows early signs of seller exhaustion.
Bitcoin: $60.5K to $61K Is the Wall
On the three-day chart, Bitcoin is holding above $60,000 without a confirmed candle close below. If that level breaks with confirmation and fails to be reclaimed, the next meaningful support sits at $54,000 to $55,000.
A bullish divergence is visible across the 12-hour, eight-hour, and daily timeframes, with lower price lows and higher RSI lows. That signal helped produce a short-term relief from recent extreme selling pressure. However, that relief has stalled directly at the $60,500 to $61,000 resistance zone, where previous support has flipped into resistance.
The liquidation heatmap shows significant liquidity clustered above at $62,000 and between $63,200 and $63,500, making a push toward $62,000 plausible once resistance clears. A smaller but growing liquidity pocket is also building below at $58,000, which becomes a target if stocks open weakly on Monday.
The weekly timeframe shows a large bullish divergence forming but not yet confirmed. The super trend indicator remains red.
Ethereum: Repeating February’s Pattern
Ethereum is holding the $1,500 to $1,600 support zone on the three-day chart. The daily chart closely mirrors the February structure, with horizontal lows, an oversold first low, and a higher RSI low suggesting early momentum recovery.
If the pattern continues to echo February, choppy sideways action or a modest relief rally could follow over the coming days. However, if stocks drag Bitcoin back toward $58,000 on Monday, Ethereum is unlikely to sustain any recovery regardless of its own setup.
XRP: Sellers Losing Steam, Not the Battle
XRP’s weekly trend remains technically bearish with no confirmed bottom. Support sits between $0.90 and $1.00, with the recent bounce from almost exactly $1.00. Resistance sits at $1.13.
The past two days have produced extremely small candle bodies, a classic outcome of a bullish divergence. Sellers are losing momentum rather than buyers taking control. Flat price action is the most likely outcome ahead of Monday’s stock market open.
What to Watch
Monday’s US market open is the single most important near-term catalyst. A stable open gives Bitcoin room to target the $62,000 liquidity zone. A weak open risks a move back to $58,000 and invalidates the short-term recovery signals across all three assets.
Story Ends Here
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Ethereum has fallen harder than Bitcoin, down nearly 70% from its high while the ETH/BTC ratio sits near multi-year lows. Will Ether keep lagging the market leader through 2026, or is the underperformance setting up a reversal? Here is the case on both sides, and what would flip it.
Summary
Ethereum trades near $1,550 as of late June 2026, down roughly 68% from its August 2025 all-time high near $4,950 and below every major moving average, the weakest technical picture among the large-cap majors. The ETH/BTC ratio sits near multi-year lows because Ether has fallen harder than Bitcoin’s roughly 52% drawdown, extending a multi-year stretch of underperformance against the market leader. The case for continued underperformance rests on Bitcoin’s ETF and treasury-driven institutional dominance, competition from Solana for on-chain activity, and a muddier investment narrative for Ether. The case for a reversal rests on deep-value pricing, staking yield, the Layer-2 and tokenization ecosystem, potential rotation of ETF flows, and the tendency of Ether to outperform in late-cycle altcoin phases. Year-end forecasts span roughly $1,266 at the bearish end to $4,400 to $5,300 at the bullish end, a gap that turns on whether capital rotates back toward Ether or stays concentrated in Bitcoin. Ethereum (ETH) is trading near $1,550 as of late June 2026, and it has fallen harder than almost any other large-cap crypto asset, which raises the question this article addresses: will Ether keep underperforming Bitcoin through the rest of 2026, or is the very depth of its decline setting up a reversal?
The numbers frame the problem starkly. Ether is down roughly 68% from its August 2025 all-time high near $4,950, a far deeper drawdown than Bitcoin’s roughly 52% fall from its own peak, and it trades below every major moving average, from the 20-day exponential average on up through the 200-day near $2,317, with a completed death cross and a relative strength index near 30.
Ethereum daily price chart — June 29 | Source: crypto.news The Fear and Greed reading sits around 13, even deeper in extreme fear than Bitcoin’s, and the $1,500 to $1,600 zone has become the line in the sand that bulls are defending; a clean loss of it opens $1,450 and then $1,400. Most tellingly for this question, the ratio of Ether’s price to Bitcoin’s sits near multi-year lows, the clearest single expression of how badly Ether has lagged the asset the market treats as its anchor.
That ratio, ETH measured against BTC, is the real subject of this piece, because the question is not only where Ether’s dollar price goes but whether it keeps losing ground to Bitcoin specifically. This article works through it from both directions: where Ethereum stands technically, what the ETH/BTC ratio actually measures and why it matters, the structural reasons Ether has underperformed, the case that the underperformance continues, the case that it reverses, what the analysts forecast, the specific conditions that would flip the ratio one way or the other, and three scenarios for both the ratio and the absolute price into year-end. The aim is to give a fair hearing to both sides, because this is a genuinely contested question on which thoughtful people disagree.
The forecasts here are information, not advice. And the framing to carry throughout is that Ether’s 2026 outcome has 2 layers: its dollar price, which depends heavily on the broad market, and its performance relative to Bitcoin, which depends on whether capital rotates back toward Ether or stays concentrated in the market leader. Both layers point to the same underlying question of whether Ethereum can reclaim the narrative momentum it has lost.
Where Ethereum stands right now The technical condition of Ethereum is the weakest among the large-cap majors, and being honest about that is the starting point. Near $1,550, Ether trades below its 20-day, 50-day, 100-day, and 200-day exponential moving averages, the last of which sits up near $2,317, meaning price is far beneath even its slowest-moving trend line. A death cross, the bearish crossover of shorter and longer averages, has completed, confirming the downtrend on the technical framework many traders use.
The relative strength index near 30 indicates oversold conditions and weak buying momentum, and the broader structure since the spring has been one of lower highs and lower lows, with sellers in control through a steep decline from the $2,000-plus range earlier in the year down to the current zone. The $1,500 to $1,600 area is the critical support, having acted as the 2026 floor, and below it the next levels are $1,450 and $1,400.
Sentiment is correspondingly grim. The Fear and Greed reading around 13 is a deeper extreme fear than Bitcoin’s, reflecting how thoroughly the market has soured on Ether specifically. The drawdown of roughly 68% from the August 2025 high near $4,950 is severe even by crypto standards and significantly worse than Bitcoin’s contemporaneous decline, which is the heart of the underperformance story. To improve the picture,
Ether needs, at minimum, to reclaim short-term resistance near $1,700 to $1,750, and a genuine trend change would require recovering the higher averages up toward $2,000 and then $2,317. Until then, the structure is bearish, and the burden of proof sits with buyers.
This is the uncomfortable backdrop against which the underperformance question must be answered: Ether is not merely down; it is down harder than Bitcoin, deeper in fear, and weaker on the charts, which is exactly why some see capitulation and opportunity while others see a structurally lagging asset with further to fall.
What the ETH/BTC ratio is telling us To analyze underperformance properly, you have to understand the ETH/BTC ratio, because it strips out the broad market and isolates the question of Ether versus Bitcoin specifically. The ratio simply expresses Ether’s price in terms of Bitcoin rather than dollars, and it rises when Ether outperforms Bitcoin and falls when Ether lags. Right now it sits near multi-year lows, which is the precise, quantified statement of the problem: over an extended period, and especially through the 2025 to 2026 drawdown, Ether has lost value against Bitcoin, not just against the dollar. When both assets fall, but one falls more, the ratio captures the difference, and Ether’s roughly 68% drawdown against Bitcoin’s roughly 52% means Ether has shed a meaningful chunk of its value relative to the market leader.
Why does this matter beyond bookkeeping? The ETH/BTC ratio is one of the most-watched gauges in crypto because it functions as a barometer of risk appetite and capital rotation within the asset class. When the ratio rises, it typically signals that capital is rotating out of Bitcoin and into Ether and the broader altcoin complex, the classic risk-on, altcoin-season dynamic. When it falls, as now, it signals that capital is concentrating in Bitcoin, treating it as the safer, more institutionally endorsed crypto asset while shunning the higher-beta alternatives.
A ratio near multi-year lows therefore tells a story: the market, in its current risk-off and Bitcoin-dominated mood, has been choosing Bitcoin over Ether decisively. For the question of whether Ether underperforms again in 2026, the ratio is both the scoreboard and the leading indicator.
A continued decline or stagnation in the ratio means underperformance persists; a sustained turn upward would be the clearest sign that Ether is regaining ground. Everything that follows, the structural arguments and the catalysts, ultimately expresses itself through which way this ratio moves.
Why Ethereum has underperformed Understanding the causes of Ether’s underperformance is essential to judging whether it continues, and several structural forces have converged against it. The 1st and arguably most important is the institutional bid for Bitcoin that Ether has not matched in kind.
Spot Bitcoin ETFs and a wave of corporate Bitcoin treasuries have created sustained, price-insensitive demand that treats Bitcoin as digital gold and a primary reserve asset, a role with no clear Ether equivalent. While Ether has its own ETFs, the institutional narrative around Bitcoin as a macro reserve asset has been far more powerful, channeling the bulk of institutional crypto allocation toward Bitcoin and leaving Ether to compete for a smaller, more speculative pool of capital. In a risk-off market, that distinction is decisive: capital flows to the asset with the strongest institutional endorsement, which has been Bitcoin.
The 2nd force is competition for Ethereum’s core use case. Solana and other high-throughput chains have captured a large share of the on-chain activity, particularly the memecoin and high-frequency trading culture, that once would have flowed to Ethereum, challenging Ether’s status as the default smart-contract platform and muddying its growth narrative.
The 3rd is a narrative problem of Ether’s own. Following its technical upgrades, the relationship between network activity and value accrual to the token has become more complicated, with much activity migrating to Layer-2 networks whose fees do not always translate cleanly into demand for Ether, leaving the investment case harder to articulate than Bitcoin’s simple scarcity story.
Together, these forces- Bitcoin’s institutional dominance, Solana’s competitive pressure, and a muddier value-accrual narrative- explain why capital has favored Bitcoin and why the ETH/BTC ratio has fallen to multi-year lows. They are real and structural, not merely cyclical, which is what gives the continued-underperformance thesis its force.
The case that the underperformance continues The bearish-on-ratio case holds that the forces just described are durable and that Ether keeps lagging Bitcoin through 2026. Its strongest pillar is that the institutional preference for Bitcoin is structural rather than temporary. As long as the dominant institutional narrative casts Bitcoin as the crypto reserve asset and digital gold, with ETFs and treasuries channeling allocation toward it, Ether will struggle to attract a comparable bid, and in any risk-off phase capital will continue concentrating in Bitcoin.
This is not a sentiment that flips quickly; it reflects how large allocators have categorized the two assets, and that categorization has only deepened through the current drawdown. On this view, the ETH/BTC ratio at multi-year lows is not an anomaly poised to mean-revert but the accurate reflection of a lasting shift in how the market values the two.
The competitive and narrative pillars reinforce the case. If Solana and other chains continue to capture on-chain activity and developer attention, Ethereum’s growth story weakens further, and a weakening fundamental narrative makes it harder for Ether to outperform regardless of price level. The muddled value-accrual picture, with activity on Layer-2 networks not cleanly driving Ether demand, means that even genuine ecosystem growth may not translate into the token appreciation that would lift the ratio. Bears also note that Ether’s deeper drawdown is itself a warning: an asset that falls harder than the market leader in a downturn is displaying higher beta and weaker relative strength, traits that tend to persist until a clear catalyst changes them.
In this reading, the most likely path for 2026 is that Ether’s dollar price may rise or fall with the broad market, but it continues to underperform Bitcoin specifically, with the ratio grinding sideways to lower, because none of the structural forces working against it have meaningfully reversed. The underperformance, on this thesis, is a feature of the current market regime, not a temporary dislocation.
The case for a reversal The bullish-on-ratio case is equally serious and rests on the proposition that Ether’s underperformance has gone far enough to create the conditions for its own reversal. The 1st pillar is deep value. After a 68% drawdown that has driven Ether to multi-year lows against Bitcoin and into extreme fear, the bull argument is that the selling has been overdone, that much of the bad news, the competition, the narrative confusion, the risk-off flight to Bitcoin, is now priced in, and that assets this oversold relative to the leader have historically offered strong mean-reversion potential when sentiment turns.
The 2nd pillar is Ether’s genuine fundamental base, which remains the deepest in the smart-contract world: it anchors the largest decentralized finance ecosystem, hosts the bulk of tokenized real-world asset activity, supports a sprawling Layer-2 network of scaling solutions, and offers a staking yield that gives holders a return Bitcoin does not. These are real assets that a reversal thesis can build on.
The 3rd pillar is the potential for capital rotation, which is how ratio reversals historically happen. In past cycles, after Bitcoin leads a move and its dominance peaks, capital has frequently rotated into Ether and the broader altcoin complex in a late-cycle altcoin season that drives the ETH/BTC ratio sharply higher, and bulls argue the current extreme in Bitcoin dominance and Ether weakness is exactly the kind of setup that precedes such a rotation.
Specific catalysts could trigger it: ETF flows rotating from Bitcoin toward Ether, particularly if Ether ETF staking features attract yield-seeking institutional capital; a stumble in Solana’s momentum that returns activity and attention to Ethereum; a broad macro shift to risk-on that lifts the higher-beta assets most; and the growth of tokenization and institutional finance building on Ethereum translating into clearer token demand.
On this view, the very severity of Ether’s underperformance, the multi-year-low ratio and the extreme fear, is the contrarian signal, and 2026 could be the year the ratio turns as capital rotates back toward a deeply discounted asset with the strongest fundamental ecosystem in its category. The reversal is not guaranteed, but it is a coherent thesis grounded in real catalysts and historical precedent.
What the analysts forecast The analyst forecasts for Ether’s dollar price in 2026 span a wide range that maps onto the underperformance debate. On the bearish side, model-driven and cautious forecasters see continued weakness: Traders Union’s statistical model projects a year-end average near $1,266, and DigitalCoinPrice has pointed to a 4th-quarter low around $1,370, both implying Ether stays near or below current levels and, by extension, likely keeps underperforming a Bitcoin that most forecasters see holding higher absolute levels. These bearish targets are consistent with the thesis that the structural forces against Ether persist and that the ratio does not recover.
On the bullish side, forecasters such as BitScreener have projected Ether reaching toward $4,676 by year-end, and others, including Cryptopolitan and the optimistic scenarios at LiteFinance, point to ranges of roughly $4,400 to $5,300, which would imply a powerful recovery and, if Bitcoin does not rise proportionally, a sharp improvement in the ETH/BTC ratio.
The gap between roughly $1,266 and $5,300 for the same asset in the same year is enormous, and like Bitcoin and XRP, it reflects genuine uncertainty rather than careless modeling. The bearish numbers assume the structural underperformance continues and Ether stays pinned near its lows; the bullish numbers assume a reversal driven by rotation, deep-value mean reversion, and Ether’s fundamental strengths reasserting themselves.
What the forecasts collectively reveal is that Ether’s 2026 outcome is even more binary than Bitcoin’s, because it depends not only on the direction of the broad market but on whether capital rotates back toward Ether specifically. An investor who believes the rotation comes will lean toward the high forecasts; one who believes Bitcoin’s dominance is structural will lean toward the low ones.
The forecasts cannot settle the debate; they can only show how much rides on it. For the underperformance question specifically, the spread is a reminder that Ether is the higher-variance bet, capable of both deeper losses and sharper recoveries than the market leader, which is precisely the profile of an asset whose relative performance is genuinely up for grabs.
What would flip the ratio, and what would keep it down The underperformance question ultimately resolves into a set of watchable conditions, and naming them is more useful than guessing. The ratio would flip in Ether’s favor on several developments. The clearest would be a broad rotation into altcoins, the classic late-cycle dynamic in which Bitcoin dominance peaks and capital flows down the risk curve into Ether first; a sustained turn upward in the ETH/BTC ratio off its multi-year lows would be the signal that this is underway. ETF flows rotating toward Ether, especially if staking-enabled Ether products draw yield-seeking institutional capital, would provide a concrete demand catalyst.
A stumble in Solana’s momentum that returns on-chain activity and developer attention to Ethereum would repair the competitive narrative. A macro shift to risk-on, with the Federal Reserve easing and liquidity improving, would favor the higher-beta asset, which is Ether. And technically, reclaiming resistance near $1,700 to $1,750 and then the higher averages toward $2,000 and $2,317 would confirm a trend change. If these align, the reversal thesis gains the upper hand.
The conditions that keep Ether underperforming are the mirror image. Continued institutional concentration in Bitcoin, with ETFs and treasuries channeling allocation toward the market leader and away from Ether, would preserve the structural imbalance. Ongoing Solana strength and further erosion of Ethereum’s on-chain dominance would keep the fundamental narrative weak.
A persistent risk-off market would keep capital huddled in Bitcoin instead of rotating into higher-beta Ether. And technically, a loss of the $1,500 support that opens $1,450 and $1,400 would confirm that sellers remain in control and that the ratio is still falling. The practical discipline for anyone watching this question is to track the ETH/BTC ratio directly as the scoreboard, alongside Bitcoin dominance, ETF flow data, Solana’s activity trends, and the macro backdrop. Those signals will reveal whether 2026 is another year of Ether lagging the leader or the year the long underperformance finally reverses. The market will answer the question through the ratio; the job is to watch it instead of to assume.
Three scenarios for Ethereum in 2026 Translating the debate into scenarios captures both the dollar price and the relative-performance dimension. In the bull scenario, the underperformance reverses. Capital rotates into Ether in a late-cycle altcoin phase, ETF flows and staking demand pick up, Solana’s momentum cools, the macro turns risk-on, and Ether recovers toward the $4,400 to $5,300 range that the optimistic forecasts describe, with the ETH/BTC ratio turning sharply higher off its multi-year lows.
In this world, Ether not only rises in dollar terms but decisively outperforms Bitcoin, rewarding the deep-value and rotation thesis. It is a coherent path, grounded in historical precedent and real catalysts, but it requires the structural forces that have favored Bitcoin to loosen.
In the base scenario, Ether broadly tracks the market without a clean resolution of the underperformance question. It stabilizes around current levels, recovers modestly if the broad market does, but continues to lag Bitcoin or merely matches it, with the ETH/BTC ratio grinding sideways near its lows instead of reversing decisively. Ether’s dollar price spends 2026 in a wide, volatile band, and the relative-performance question stays unresolved into 2027. This middle path reflects how balanced the structural arguments are and is a reasonable central expectation. In the bear scenario, the underperformance deepens.
Bitcoin’s institutional dominance persists, Solana continues to pressure Ethereum, the market stays risk-off, Ether loses the $1,500 support and slides toward $1,400 and below, validating the bearish forecasts near $1,266, and the ETH/BTC ratio falls further as capital keeps choosing Bitcoin. Which scenario unfolds depends on capital rotation, ETF flows, the Solana competition, and the macro backdrop, all of which express themselves through the ETH/BTC ratio. All 3 are live, and the breadth between them is exactly why Ether is the higher-variance bet among the majors heading into the rest of 2026.
Frequently Asked Questions Will Ethereum underperform Bitcoin in 2026? It is truly contested. Ether has underperformed Bitcoin badly, down roughly 68% from its 2025 high versus Bitcoin’s roughly 52%, pushing the ETH/BTC ratio to multi-year lows. The case for continued underperformance rests on Bitcoin’s structural institutional dominance through ETFs and treasuries, competition from Solana for on-chain activity, and a muddier value-accrual narrative for Ether. The case for a reversal rests on deep-value pricing after the severe drawdown, Ether’s strong fundamental ecosystem and staking yield, and the potential for capital to rotate into Ether in a late-cycle altcoin phase. The deciding signal is the ETH/BTC ratio itself; a sustained turn higher would mark a reversal, while continued weakness would confirm more underperformance.
Why has Ethereum fallen harder than Bitcoin? Several structural forces have weighed on Ether more than Bitcoin. The biggest is the institutional bid for Bitcoin as digital gold and a reserve asset, channeled through ETFs and corporate treasuries, with no equally powerful equivalent for Ether. Competition from Solana and other high-throughput chains has captured on-chain activity that once flowed to Ethereum, weakening its growth narrative. And Ether’s value-accrual story has grown more complicated, with much activity migrating to Layer-2 networks whose fees do not cleanly translate into demand for the token. In a risk-off market, capital concentrates in the asset with the strongest institutional endorsement, which has been Bitcoin, leaving higher-beta Ether to fall harder.
What is the ETH/BTC ratio and why does it matter? The ETH/BTC ratio expresses Ether’s price in terms of Bitcoin instead of dollars; it rises when Ether outperforms Bitcoin and falls when Ether lags. It matters because it strips out the broad market and isolates the question of Ether versus Bitcoin specifically, and because it functions as a barometer of risk appetite and capital rotation within crypto. A rising ratio typically signals capital rotating out of Bitcoin into Ether and altcoins, the classic altcoin-season dynamic; a falling ratio, as now near multi-year lows, signals capital concentrating in Bitcoin. For the underperformance question, the ratio is both the scoreboard and the leading indicator, so watching it directly is the best way to judge whether Ether is regaining or losing ground.
What would make Ethereum outperform again? A reversal would likely require capital rotation into Ether, the late-cycle dynamic in which Bitcoin dominance peaks and money flows into Ether and altcoins, signaled by the ETH/BTC ratio turning up off its lows. Concrete catalysts include ETF flows rotating toward Ether, especially staking-enabled products attracting yield-seeking capital; a stumble in Solana’s momentum returning activity to Ethereum; a macro shift to risk-on that favors higher-beta assets; and Ether reclaiming technical resistance near $1,700 to $1,750 and then the higher averages toward $2,000 and $2,317. The bull thesis also leans on deep value after the 68% drawdown and Ether’s strong fundamentals in decentralized finance, tokenization, Layer-2s, and staking. If these align, the long underperformance could reverse in 2026.
What are analysts forecasting for Ethereum in 2026? The range is very wide. Bearish, model-driven forecasts see continued weakness, with Traders Union projecting a year-end average near $1,266 and DigitalCoinPrice pointing to a 4th-quarter low around $1,370, implying Ether stays near its lows. Bullish forecasts are far higher, with BitScreener toward $4,676 and others, including Cryptopolitan and optimistic scenarios at LiteFinance, in the $4,400 to $5,300 range, implying a strong recovery. The gap from roughly $1,266 to $5,300 reflects genuine uncertainty: the low end assumes structural underperformance continues, while the high end assumes a reversal driven by rotation and deep-value mean reversion. Ether’s outcome is more binary than Bitcoin’s because it depends on whether capital rotates back toward Ether specifically.
Is Ethereum a better buy than Bitcoin right now? This article does not give buy recommendations, and the honest answer is that it depends entirely on the question it examines. Ether offers higher potential reward if the underperformance reverses, because it is more deeply discounted and has more room to mean-revert, but it carries higher risk because the structural forces favoring Bitcoin- institutional dominance, Solana competition, and a muddier narrative- may persist. Bitcoin has been the safer, more institutionally endorsed asset that capital has favored in the risk-off market. Choosing between them is really a bet on whether capital rotates back toward Ether in 2026 or stays concentrated in Bitcoin, which is the unresolved question at the center of this analysis. Both are highly volatile and can lose value.
This article is information, not financial or investment advice. Ethereum and Bitcoin price levels, the ETH/BTC ratio, indicator readings, and analyst forecasts reflect data available as of June 28, 2026, are point-in-time, and can change rapidly. Cryptocurrency is highly volatile, and you can lose money. Price predictions are inherently uncertain, and the scenarios described are not guarantees. Do your own research and consult a qualified financial professional before making any investment decision.
GameStop said it will continue to advance its $56 billion acquisition plan for eBay.
According to Reuters, GameStop says it will continue advancing its acquisition of eBay, even after the e-commerce giant rejected its roughly $56 billion all-cash and stock offer. GameStop CEO Ryan Cohen’s May proposal to acquire eBay took Wall Street by surprise. Cohen argued the combined entity would be a stronger competitor to Amazon, and stated he would oversee its operations. eBay rejected the offer that same month. GameStop noted it remains committed to the acquisition plan, but did not disclose the deal’s rationale or next steps. Separately, in a brief regulatory filing, GameStop projected its adjusted EBITDA for fiscal 2026 will exceed $600 million, up from the $345.4 million reported for fiscal 2025.
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Serenity: Bullish on Agility Robotics and Unitree in the humanoid robot sector
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin climbed back above $60,000 after Strategy Inc. (NASDAQ:MSTR) unveiled its BTC monetization and capital restructuring program, easing near-term concerns and supporting a rebound in crypto sentiment.
Notable Statistics:
Coinglass data shows 86,762 traders were liquidated in the past 24 hours for $355.22 million. SoSoValue data shows net outflows of $444.5 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $12.9 million. In the past 24 hours, top losers include MemeCore, Velvet and Pi. Notable Developments:
Trader Notes:
Analyst Ted Pillows noted that Bitcoin recorded its first weekly close below $60,000 in nearly two years, signaling a significant technical breakdown.
He also pointed to continued spot Bitcoin ETF selling and the prospect of Strategy selling Bitcoin as additional headwinds, arguing BTC is likely to fall toward $50,000 before eventually rallying to $100,000.
Trader Justin Bennett said Bitcoin’s first weekly close of the year below $60,000 reflects persistent bearish market structure despite expected end-of-month and quarter-end institutional positioning.
A short-term relief rally or bullish reversal is possible.
Expert Benjamin Cowen pointed out that Bitcoin posted a weekly close below its 200-week moving average, calling it another example of the recurring four-year market cycle.
He also noted that the first weekly close below the 200-week moving average during the 2022 bear market likewise occurred in June, suggesting a historical parallel with the current price action.
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Demand for Shiba Inu is a major issue. Although "buying volume at zero" is not a precise description of the market, current technical and on-chain indicators indicate that significant buying interest has all but vanished, making SHIB susceptible to additional drops. The recent increase in exchange inflows is the most evident cause.
Trillions of SHIB tokens have been moved to centralized exchanges in the past few days. While exchange outflows approached 295 billion SHIB, exchange inflows surpassed 240 billion SHIB. Despite the fact that netflow is still negative overall, the abrupt increase in deposits has sparked worries that large holders are getting ready to sell rather than buy.
SHIB/USDT Chart by TradingViewInstead of waiting for sales to happen, traders respond to the potential for future selling pressure. Instead of attempting to catch a falling knife, many investors would rather step aside when billions or trillions of tokens arrive on exchanges. This lack of confidence is reflected in the chart. Since breaking out of a multi-month rising wedge pattern, SHIB has failed all significant attempts at recovery.
HOT Stories
The asset is still trading below its 50-, 100-, and 200-day moving averages, all of which remain in a bearish formation. Due to the fact that every rally has been sold into, buyers are becoming more and more hesitant to enter the market. The lack of speculative momentum is an additional problem.
Historically, SHIB has depended on social media attention, retail enthusiasm, and quick inflows of risk capital. None of those catalysts are present in the current market environment. Meme coins have found it difficult to compete for investors' attention as Bitcoin, Solana, and other assets draw the little capital that is still entering cryptocurrency markets. It is worth noting that some network metrics are improving.
Over the last 24 hours, there has been an increase in active addresses, active sending addresses, and transaction counts. A recovery narrative would normally be supported by increasing activity. Nonetheless, it seems that investors are more concerned with price action than network usage. Improving on-chain activity is unlikely to alter sentiment as long as SHIB keeps setting lower highs and lower lows.
Dogecoin's Potential Bottom It looks like Dogecoin is finally approaching the point where its downward momentum is running out. Several technical signals indicate that DOGE may be forming a local bottom near current levels following months of unrelenting selling pressure and a nearly continuous series of lower highs and lower lows. After going through one of the worst corrections of the current cycle, the meme cryptocurrency is currently trading at about $0.072. With sellers retaining total control over the market, DOGE has lost more than 35% of its value since reaching a peak above $0.11 in May.
The most recent price action, however, suggests that the decline's intensity may be lessening. The Relative Strength Index is one of the most significant indicators. With its RSI down to about 21, DOGE is firmly in oversold territory. In the past, readings below 30 have been indicative of severe selling pressure.
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Oversold conditions frequently precede periods of stabilization or relief rallies, but they do not by themselves ensure a reversal. The gap between the current price and major moving averages is another positive indicator. At the moment, DOGE is trading well below its 50-, 100-, and 200-day moving averages. Such dislocations seldom last forever. Over time, markets typically return to their averages, particularly following protracted episodes of panic selling.
The potential for a bottoming process is further supported by volume dynamics. The explosive selling volume that marked previous breakdowns has not coincided with recent declines. This implies that there may be less immediate selling pressure, as many weak hands may have already sold their positions. Nevertheless, it would be premature to declare a complete trend reversal.
The overall market structure is still negative, and DOGE is still below all significant resistance levels. Regaining the 50-day moving average around $0.083 would be the first obstacle facing bulls. The 100-day and 200-day moving averages at $0.093 and $0.11, respectively, would become significant barriers above that.
Bitcoin Is Back in the Trading RangeOne of the most significant psychological levels in the cryptocurrency market is being tested once more by Bitcoin. Following weeks of intense selling pressure, Bitcoin has returned to the $59,000–$60,000 range, where bulls are trying to avert another significant collapse. The technical picture is still very bearish, which is the concern.
Recently, an upward trendline supporting the April–May recovery rally in Bitcoin was lost. The sharp selloff that ensued throughout June was made possible by the breakdown, which signaled the end of the medium-term uptrend. Every attempt at recovery since then has been met with fresh selling pressure.
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At the moment, Bitcoin is trading below its 50-, 100-, and 200-day moving averages. While the 100-day and 200-day averages, at roughly $69,000 and $76,500, respectively, remain significantly above current prices, the 50-day EMA near $63,700 has emerged as the first significant resistance level.
BTC/USDT Chart by TradingViewThis alignment demonstrates that sellers continue to dominate the overall trend. The $60,000 threshold has become a battlefield. Traders and institutions have historically paid close attention to round numbers, and Bitcoin is no different. Although buyers have so far managed to avoid a clear breakdown below this level, support is eroding with each retest. Momentum indicators are sending conflicting signals. With the RSI declining toward 30, Bitcoin is now close to being oversold.
This raises the likelihood of a relief rally and implies that selling pressure may be running out in the near future. Oversold conditions, however, frequently persist longer than traders anticipate during severe downtrends. Volume remains a concern. Elevated selling activity has coincided with recent declines, suggesting that market participants are still reducing exposure rather than actively accumulating.
Bulls' immediate goals are straightforward: protect $60,000 and push Bitcoin above the 50-day moving average. A more extensive rebound toward the $69,000 area could be sparked by a successful move above $64,000. However, the market may experience another wave of liquidation pressure if support fails. In that case, as traders look for the next significant support zone, Bitcoin would likely enter a new stage of price discovery to the downside.
