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Bitcoin, which started June above $70,000, fell to $58,000 during the month. While factors such as ongoing spot ETF outflows, a more hawkish Fed, and continuing US-Iran tensions were cited as reasons for the decline, Gabor Gurbacs, an advisor at VanEck and Tether, offered a different perspective.

Gabor Gurbacs, strategic advisor to asset management company VanEck and stablecoin issuer Tether, claimed that Bitcoin failed to reach a new all-time high because of extremely irresponsible people.

Gabor Gurbacs, in a post from his X account, argued that the market is being diluted by those who prioritize copying existing products and reusing old narratives instead of building lasting infrastructure and belief systems.

Gurbacs argued that highly unserious individuals have hijacked a large part of the Bitcoin discourse.

He criticized these individuals for copying and selling substandard products and stale narratives instead of focusing on building long-term beliefs, infrastructure, and distribution networks.

Gurbacs stated that this is one of the main reasons why Bitcoin is currently unable to surpass its all-time high (ATH).

According to the expert, although Bitcoin experienced gains in the last two years and reached an all-time high of $126,000, it traded below its peak of approximately $69,000 in November 2021 for much of the past two years.

Gurbacs argues that this is not just a macroeconomic problem, but also a reflection of structural problems in the sector.

At this point, he emphasizes that the fundamental structure of the market lost its seriousness with the Initial Coin Offering (ICO) boom of 2017. Gurbacs notes that the crypto community before 2017 was sharper and acted with clear principles and a mission, adding that almost a decade has passed since the market changed.

The celebrity concluded by saying that if he had one wish, he would wish the Real World Asset (RWA) tokenization boom had happened before the 2017 ICO boom disrupted the market.

*This is not investment advice.

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The crypto market ahead of EU MiCA’s July 1 deadline remains under pressure, with total value down 0.69% to $2.05 trillion. Traders are watching BTC, ETH, XRP, and BNB Prices as Europe prepares for stricter crypto enforcement.

EU MiCA Deadline Raises Pressure on Crypto Firms The Markets in Crypto Assets (MCA) regulation is at the final stage of enforcement tomorrow. The rules stipulate that exchanges will be required to cease operations throughout the European Union if those exchanges are not approved.

MiCA provides a common ground for crypto trading, custody, and market behaviour. It’s also regarded as the initial wide crypto rulebook of the globe.

The deadline for crypto firms to be approved by MiCA has been reached and only 244 of them have obtained approval so far. Europe previously had more than 3,000 registered crypto companies.

🚨 #Crypto Firms Turn to Dubai as EU Grants Only 244 MiCA Licenses

With just 244 #MiCA licenses issued out of nearly 3,000 applicants, crypto firms are increasingly turning to Dubai as the UAE emerges as a key hub for digital asset businesses.

Meanwhile, @binance , @bitget,… pic.twitter.com/5BrPkAG0j6

— CoinGape (@CoinGapeMedia) June 30, 2026

This will cause a disruption in service for many operators, and possibly even result in operators having to suspend or withdraw from the region. The change may impact user access and Europe’s liquidity in the future.

Binance founder Changpeng Zhao said the company’s Greece license application failed due to political interference. However, analysts say that euro trading only accounts for a small part of Binance’s spot volume.

The regulatory change is also driving some of the founders to the UAE. European crypto companies are increasingly interested in Dubai’s faster licensing procedures.

Bitcoin price Bitcoin price dropped 1.49% to $59,257 on Tuesday as traders awaited the due date for the EU MiCA. The pressure was largely attributed to the withdrawal of U.S. spot Bitcoin ETFs. June was the month for more than $4.1 billion in outflows for these funds, which dampened investor enthusiasm among institutional buyers. 

Source: BTC/USDT chart Tradingview Bitcoin price now faces a decisive test around the $58,000 support zone. If bulls do a defence of that area, then the the Future Bitcoin outlook may trade sideways and regain strength. However, a break below $58,000 could open a move toward $56,000.

Ethereum (ETH) Ethereum price rebounded from $1,500 support level on Tuesday following its failure to hold above it yesterday. The token is recovering from the recent market correction in preparation for EU MiCA. 

$ETH is back into its high demand zone.

As long as the $1,500 level holds, Ethereum could have a relief rally next month. pic.twitter.com/aZAB5kt6Ez

— Ted (@TedPillows) June 30, 2026

The initial major selling resistance is around $1,600, where they may test out short-term demand. If the bounce off is stronger, it could propel Ethereum back up to $2,000 and then $2,010. If selling resumes, traders will watch the $1,500 level closely. A further decline may penetrate $1,385 that is still a medium-term support level.

XRP Price XRP price dropped by 0.80% to $1.04 as sentiment in the crypto market softened. The decline came as the Fear and Greed Index stayed at 17, signaling extreme fear. However, fresh inflows into spot ETFs helped support XRP prior to the EU’s MiCA deadline. 

Source: Sosovalue data XRP spot ETFs recorded $15.34 million in net inflows on June 29. Bitwise led the flow with $11.94-million, followed by Canary XRPC’s $3.40-million. Cumulative net inflows have now climbed to $1.485 billion. If the price of XRP continues to hold above $1.00, it might try to push towards $1.15. A close below $1.00 could raise the risk of further declines to $0.95.

Binance Coin (BNB) BNB Coin fell 0.92% to $549 amid broader market weakness. However, macro pressure brought by stronger U.S. dollar and geopolitical uncertainty, kept the buyers cautious. The $540-$550 range continues to be a crucial area of support in the lead up to EU MiCA enforcement. 

BNB price As long as BNB remains in this range, the token could continue to hold its ground. A failure to break above the range will bring this price to the forefront of consideration at $520.

Table of contents

Bitcoin is trading at $59,101 on June 30, 2026 — the final day of the worst month of the current correction cycle — as the Fear & Greed Index reads 15, a marginal recovery from yesterday’s absolute cycle low of 12. Total crypto market cap holds near $2.07 trillion. The defining story of the day is the sharp divergence within the top 10: Solana and Hyperliquid are posting strong weekly gains while Bitcoin, Ethereum, XRP, BNB, and Dogecoin all remain in negative territory for the week, with Dogecoin down a brutal 9.43%.

Key Takeaways Bitcoin at $59,101, down 0.26% on the day and 5.33% on the week, closing out June’s worst monthly performance of the cycle Fear & Greed Index at 15 — up slightly from yesterday’s cycle-low 12, but still firmly in Extreme Fear; last month was 28 (Fear) Solana is the standout performer: +6.19% weekly, the only top-10 asset with strong positive momentum across both 24h and 7d Hyperliquid (+4.35% weekly) is the second-best performer, both assets benefiting from idiosyncratic strength rather than broad market recovery Dogecoin down 9.43% weekly — the worst performer in the top 10 by a wide margin Ethereum down just 0.46% on the day despite Foundation restructuring and ETF outflow headlines XRP down 6.27% weekly as CLARITY Act odds fell to 42% and Senate entered recess until July 13 TRON’s defensive characteristics weakened into month-end, down 3.74% weekly — still better than BTC, ETH, XRP, BNB AssetPrice24h7dMarket CapVolume (24h)Bitcoin (BTC)$59,101.69–0.26%–5.33%$1.18T$31.35BEthereum (ETH)$1,575.63–0.46%–4.98%$190.15B$11.72BTether (USDT)$0.9984–0.01%–0.03%$184.7B$70.52BBNB$547.09–0.29%–4.54%$73.73B$1.15BUSDC$0.99960.00%0.00%$73.61B$13.24BXRP$1.03–0.30%–6.27%$64.61B$1.58BSolana (SOL)$73.39–0.26%+6.19%$42.63B$3.85BTRON (TRX)$0.3171–0.10%–3.74%$30.08B$638.95MHyperliquid (HYPE)$65.83–0.12%+4.35%$16.65B$659.81MDogecoin (DOGE)$0.07192–0.67%–9.43%$12.26B$638.58M Fear & Greed at 15: Recovering From the Cycle’s Darkest Reading The Fear & Greed Index printed 15 on June 30, an improvement from yesterday’s reading of 12 — the deepest Extreme Fear of the entire 2026 correction cycle. The four-day trajectory tells the story: last month was 28 (Fear), last week 23 (Extreme Fear), yesterday 12 (cycle low), today 15. The slight uptick from 12 to 15 is the first sentiment improvement seen in over a week, though the index remains firmly in Extreme Fear territory.

This sentiment pattern — sustained readings below 20 for multiple consecutive days, including the deepest point of the entire cycle — has historically been associated with periods that precede meaningful relief rallies, though the timing and magnitude of any recovery remain uncertain. The next update arrives within 24 hours and will be the first reading of July, providing an early signal of whether the marginal improvement continues into the new month.

Bitcoin: Closing Out the Worst Month of the Cycle Bitcoin is trading at $59,101.69, down 0.26% on the day and 5.33% over the past week — a decline that caps what has been confirmed as the worst monthly performance of the entire 2026 correction. The 1-week chart shows BTC opened above $62,200 on June 24, dropped sharply to test the $59,000s through a volatile mid-week stretch, and has spent the final days of June grinding in a narrow range near $59,000–$60,000.

Volume at $31.35 billion is elevated (+44.14% versus the prior session per CoinMarketCap data), consistent with month-end institutional rebalancing rather than a fresh directional catalyst. With June closing near $59,000, the monthly candle confirms BTC’s deepest drawdown test of the year, though the price has avoided a clean breach of the May cycle low on a sustained closing basis. For the full BTC breakdown, see our Bitcoin news today page.

Solana: The Standout Performer of the Week Solana is the clear leader among major assets, up 6.19% over the past week to $73.39 even as it dipped slightly (–0.26%) on the day itself. The 1-week chart shows a powerful recovery structure: SOL bottomed near $66 around June 25–26 alongside the broader market selloff, then staged a sustained climb through $68, $70, and finally above $73 by June 30 — outperforming every other top-10 asset by a wide margin on the weekly timeframe.

Volume surged 54.41% to $3.85 billion, confirming institutional participation behind the move rather than thin, low-conviction trading. SOL’s relative strength reflects its faster recovery from the June 26 capitulation low compared to Bitcoin and Ethereum, combined with the ongoing Alpenglow upgrade narrative and continued real-world adoption momentum from partnerships announced earlier in the month.

Ethereum: Resilient Despite Foundation Restructuring Headlines Ethereum is down just 0.46% on the day to $1,575.63, holding up reasonably well despite a difficult news cycle that included the Ethereum Foundation’s confirmed 20% staff reduction and persistent spot ETF outflows. The 7-day loss of 4.98% is actually milder than Bitcoin’s 5.33% weekly decline — a notable shift after ETH had underperformed BTC for most of June.

Volume jumped 47.47% to $11.72 billion, the second-highest percentage volume increase in the top 10 after Solana. The relative stability suggests that the worst of the Foundation restructuring and ETF outflow narrative may already be priced in, with the market shifting attention toward whether ETH can build a base above $1,550 heading into July. For daily ETH coverage, see our Ethereum news today tracker.

XRP: Weakest Major Asset as CLARITY Act Odds Slide XRP is the weakest major asset on a weekly basis among BTC, ETH, BNB, and TRX, down 6.27% to $1.03 as CLARITY Act passage odds fell to 42% and the Senate entered recess until July 13. The 1-week chart shows the same pattern as Bitcoin and Ethereum — a sharp drop around June 25–26 followed by a choppy, directionless recovery attempt that has failed to reclaim the $1.06–$1.08 zone on a sustained basis.

Despite the price weakness, on-chain accumulation by large holders has continued throughout the drawdown, and some technical analysts have flagged early bullish reversal signals on the daily chart. Whether those signals translate into price action will likely depend heavily on developments around the CLARITY Act when the Senate returns from recess on July 13.

TRON: Defensive Edge Erodes Into Month-End TRON’s typically defensive profile weakened in the final week of June, with TRX down 3.74% to $0.3171 — still outperforming BTC, ETH, XRP, and BNB on the weekly timeframe, but a notably larger decline than the sub-1% losses TRX posted during earlier capitulation events in June. Volume rose 14.03% to $638.95 million.

The erosion in TRON’s relative strength suggests that sustained multi-week macro pressure is beginning to weigh on even utility-driven assets, though TRX’s structural demand base from USDT settlement remains intact heading into the MiCA enforcement window that opened July 1.

Hyperliquid: Quietly the Second-Best Performer Hyperliquid is up 4.35% over the past week to $65.83, the second-strongest performer in the top 10 after Solana. The 1-week chart shows a steady, low-volatility climb from the low $60s to nearly $66, with volume surging 72.35% to $659.69 million — the largest percentage volume increase of any asset in the top 10. HYPE’s continued strength reflects sustained demand for its on-chain perpetuals exchange, which has maintained robust trading volumes even as broader sentiment remained deeply negative.

Dogecoin: Worst Performer in the Top 10 Dogecoin is down 9.43% over the past week to $0.07192 — by far the weakest performer among major assets and nearly double the percentage decline of the next-worst performer, XRP. With no underlying utility catalyst, DOGE remains the purest sentiment proxy in the top 10, and its outsized weekly loss reflects just how compressed risk appetite has become during the depths of Extreme Fear.

What July Inherits From June June 2026 closes as the worst monthly stretch of the current crypto correction cycle, with Bitcoin down over 5% on the week and Ethereum facing both technical damage and structural organizational news from the Foundation restructuring. Yet the month also closes with two clear bright spots — Solana and Hyperliquid — both demonstrating that idiosyncratic strength is possible even within a broadly bearish macro environment.

The Fear & Greed Index’s modest recovery from 12 to 15 is the first sentiment improvement in over a week, and the path into July will be shaped by three factors: whether the CLARITY Act sees any progress when the Senate returns from recess on July 13, whether Bitcoin can hold the $59,000 zone on a sustained basis, and whether Ethereum’s relative stability this week marks a genuine bottoming process or merely a pause before further downside.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Dogecoin cofounder Billy Markus, who goes by "Shibetoshi Nakamoto" on X, reacted to recent reports that the world's largest publicly traded company holding Bitcoin, Strategy, may sell a portion of its BTC holdings, about $1.25 billion.

Strategy holds 847,363 BTC as of June 22. If the Bitcoin treasury company were to raise $1.25 billion through Bitcoin sales, it might need to sell about 20,800 BTC at current prices, equivalent to about 2.5% of its 847,363 BTC holdings.

However, the news that Strategy might sell a portion of its massive BTC stash has generated reactions from a large part of the crypto community, including Dogecoin co-founder Billy Markus.

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In an X post, Markus shared a short video clip that had a compilation of tweets from Strategy Chairman and Bitcoin advocate Michael Saylor urging holders never to sell their Bitcoin.

This itself attracted comments from the Dogecoin community, as an X user pointed out Markus' well-known decision to sell his DOGE holdings years ago.

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Markus, who co-founded Dogecoin in 2013, sold all of his DOGE holdings in 2015 after being laid off from his job. He liquidated his entire crypto portfolio for about $10,000 to pay rent and cover basic living expenses. This amount was equivalent to what a used Honda Civic would cost at that time.

Despite the recurring jokes and discussions, Markus maintains a lighthearted attitude toward the decision. This is seen with Markus posting a meme GIF that basically said "I'm fine" in response to the X user who recalled this decision.

Strategy to sell Bitcoin?In a recent press release, Strategy announced that its Board of Directors has authorized a BTC Monetization Program under which the company may sell BTC from time to time for three primary purposes.

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First, to generate up to $1.25 billion to fund the USD Reserve; second, to additionally fund preferred stock dividends and interest expenses as they become payable or to replenish the USD Reserve after such payments. Third, to additionally fund repurchases of Digital Credit Securities or Class A common stock.

As stated in the release, the BTC Monetization Program does not obligate Strategy to sell any BTC, fund any dividend payment or interest expense through BTC sales, or repurchase any securities.

The BTC Monetization Program will have no fixed expiration date and may be modified, suspended, or terminated at any time.

Cathie Wood Makes Fresh Bullish Bitcoin Call — Just Months After $1.5M Prediction

Bitcoin Slips Below $59,000 as Volatility Spikes$BTC fell below the $59,000 mark on June 30, posting a 2.1% intraday loss as market volatility picked up sharply in the final hours before a major regulatory deadline. The move triggered over $145 million in leveraged long liquidations, pushing Bitcoin into a high-velocity liquidity pocket as bulls failed to defend a level that had held for much of the year.

Bitcoin traded at $59,270 on June 30, 2026, after a weekly close below $60,000 flipped this year's key support into fresh resistance. The structural significance of the $60,000 level extends beyond technicals. The $60,000 level carries technical importance due to over $1.2 billion in put options open interest at that strike.

The broader selloff has been building for weeks. Multiple pressures converged: a sharp selloff in AI and semiconductor stocks, record Bitcoin ETF outflows, a potential delay to the US CLARITY Act, and early selling signals from long-term holders. June set a record with $4.06 billion in net ETF redemptions, topping February 2025's $3.56 billion, with BlackRock's IBIT driving roughly three-quarters of the outflows.

MiCA Deadline Adds Pressure Across European MarketsThe price dislocation comes as the crypto industry confronts one of its most significant regulatory inflection points in Europe. Crypto companies operating in the European Economic Area face a July 1, 2026 enforcement deadline under the Markets in Crypto-Assets Regulation (MiCA). From that date, platforms offering crypto services without MiCA authorization must stop serving clients across the bloc.

July 1, 2026 is the hard enforcement deadline across the European Economic Area. The European Securities and Markets Authority (ESMA) has confirmed there will be no extension. After that date, any entity providing crypto-asset services to EU clients without a MiCA license is in breach of EU law and must stop. Critically, there is no intermediate or pending status: a firm is either authorized or it is not.

Only around 210 of the 1,200-plus VASP entities that held pre-MiCA national registrations have converted to full CASP authorization, a conversion rate of roughly 17%. Major exchanges including Kraken, Coinbase, Bitstamp, Bitpanda, OKX, and Crypto.com have secured licenses, but ten EU jurisdictions have yet to issue a single CASP authorization. Crypto firms operating in the EU must secure licenses before July 1, 2026 or risk losing access to European customers, and regulators in France have warned that non-compliant companies could face enforcement action or blacklisting.

The combination of forced exchange restructuring across Europe and mounting macro pressure has left $BTC exposed heading into the second half of 2026. Bitcoin has fallen 31.7% year-to-date and is 52.6% below its October 2025 all-time high of $126,272.

This article is for informational purposes only and does not constitute investment advice.

Sources:
IG UK: Why has Bitcoin crashed below $60,000?
Bitcoin.com: MiCA Deadline Hits July 1 as Unlicensed Crypto Platforms Face EU Shutdown Risk
Yahoo Finance: July 1 MiCA Deadline Looms: More Than 80% of EU Crypto Firms Still Unlicensed

Iran has laid out a set of preconditions for any future talks with the United States. Among the demands: full control over the Strait of Hormuz, including authority over transit management, toll collection, and maritime services for every vessel passing through one of the most strategically vital waterways on the planet.

Roughly 20% of the world’s oil supply passes through the Strait of Hormuz on any given day.

The full list of demands Tehran’s negotiation stance goes well beyond waterway control. Iran is also demanding access to frozen assets, estimated between $6 billion and $12 billion, that have been locked up under various sanctions regimes. On top of that, Iran wants a verified end to Israeli military operations in Lebanon before it will even sit down at the table.

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Iran has rejected or sidelined nuclear negotiations entirely, choosing instead to center discussions on strait control and sanctions relief.

Mediators from Pakistan, Qatar, and Oman have reportedly been involved in attempting to bridge the gap between Washington and Tehran.

The conflict in the region has persisted since February 2026, with both sides implementing blockades of various kinds. Shipping routes have already seen meaningful disruptions, with vessels increasingly forced to reroute closer to Omani waters to avoid Iranian-controlled zones.

Hormuz Safe: the Bitcoin-settled insurance play Iran has proposed an initiative called “Hormuz Safe,” a maritime insurance platform for shipping traffic through the strait that would be settled entirely in Bitcoin. Iran anticipates the platform could generate over $10 billion in revenue. Bitcoin settlement offers a way to collect that revenue outside the reach of US dollar-denominated sanctions.

Bitcoin is the only cryptocurrency mentioned in association with the platform. No stablecoins, no Ethereum, no tokenized anything.

What this means for crypto investors Bitcoin has been hovering near $64,000, and its price has shown sensitivity to geopolitical developments in the region.

The proposed $10 billion revenue target for Hormuz Safe is eye-catching, but Iran’s ability to actually implement a Bitcoin-settled insurance platform depends on several things going right simultaneously: maintaining physical control of the strait, onboarding international shipping companies onto a sanctioned platform, and processing billions in Bitcoin transactions without the kind of infrastructure that typically takes years to build.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

11h35 ▪ 7 min read ▪ by Ghiles A.

Summarize this article with:

Bolivia changes its monetary strategy after fifteen years of artificial stability. The country abandons its fixed peg to the dollar due to the decline of its reserves and economic pressure. This decision also revives the debate around financial alternatives like Bitcoin, as cryptocurrencies advance in economies facing currency tensions. The new exchange rate regime marks a new stage for the boliviano and transforms the country’s monetary environment.

In Brief Bolivia abandons its fixed peg to the Dollar after fifteen years to adopt a flexible exchange rate regime due to the exhaustion of its reserves. The end of monetary control occurs as the gap between the official rate and the parallel market Dollar rate has widened significantly. The lifting of restrictions on cryptocurrencies in 2024 caused a strong rise in trading volumes and accelerated the adoption of stablecoins in the country. Bolivian banks are beginning to integrate services related to digital assets, notably USDT, amid financial transformation. Facing currency tensions, Bitcoin appears as a strategic reserve considered by several states and could be a diversification path for Bolivia. Bolivia Abandons Its Dollar Peg After Fifteen Years of Control The US dollar just took another hard hit in Bolivia, where it played a central role in the fixed exchange system established since 2011. The country has just ended this system. The Minister of Economy José Gabriel Espinoza announced in a press release the abandonment of the official rate of about 6.96 bolivianos per US dollar. The country now adopts a flexible floating exchange rate regime, with a rate determined by market forces. This decision comes as the old mechanism no longer reflected the economic reality.

Before this announcement, the Central Bank’s reference rate had already exceeded 10 bolivianos per dollar. The gap between the official exchange rate and the parallel market had significantly increased, reaching about 12.9 to 13.1 bolivianos per dollar by late 2025. The old monetary system could no longer maintain sustainable stability. The government chose a new approach to address accumulated imbalances.

The fixed exchange rate regime worked when Bolivia had enough reserves to support its currency. In 2014, foreign exchange reserves exceeded 15 billion dollars, giving the central bank the means to defend the official rate. Since then, reserves have sharply decreased, reducing their intervention capacity. Rising budget deficits also made maintaining this model increasingly difficult.

The shift to a flexible system is part of a broader economic stabilization strategy. This evolution could also accompany new dealings with international financial institutions. For Bolivian authorities, the goal is to restore a balance between the official market and economic reality. This transformation also opens a new chapter for alternative monetary solutions.

The Rise of Cryptocurrencies Accelerates in the Country For ten years, Bolivia had banned virtual assets on its territory. The situation changed in June 2024, when the central bank lifted restrictions with resolution no. 082/2024 from its board. This opening quickly changed the local financial landscape. Users began exploring cryptocurrencies more as a tool for protection against monetary tensions.

Transaction volumes via official channels rose from 46.5 million dollars in the first half of 2024 to 294 million dollars in the first half of 2025. This increase represents a rise of over 530% in one year. The Bolivian crypto market thus developed a new dynamic after the end of restrictions. Local players gradually adopted new digital uses.

In April 2026, three Bolivian banks already offered services related to USDT. This evolution shows that stablecoins now hold an important place in the national financial ecosystem. Bolivia’s central bank also signed a memorandum of understanding with El Salvador’s National Digital Assets Commission in 2025. The country thus seeks to better understand opportunities related to digital assets.

The disappearance of the fixed rate could, however, change the demand for cryptocurrencies. If citizens can access foreign currencies at market price via official channels, the use of certain stablecoins as protection against dollar shortages could evolve. However, the infrastructure built in recent years remains in place. Users now have digital wallets and master virtual asset transactions.

This situation shows that monetary crises can accelerate stablecoin adoption. Bolivia thus becomes a case observed by crypto market players. Investors now monitor volume evolution after the exchange regime reform. Continued institutional demand around USDT could confirm the lasting establishment of cryptocurrencies in the local financial system.

And Why Not Bitcoin as a New Strategic Reserve? Beyond stablecoins, Bitcoin appears as a monetary alternative used by several states seeking to diversify their reserves. Unlike traditional currencies, its supply is limited to 21 million units. This characteristic makes it a digital asset considered by some governments as a long-term store of value. Its decentralized operation represents a major difference from currencies controlled by central banks.

The United States has integrated Bitcoin into its strategic thinking around national digital asset reserves. This approach is based on the idea that an asset independent from the classic monetary system can strengthen a country’s financial diversification. El Salvador has also placed Bitcoin at the core of its monetary policy since its official adoption. The country continues accumulating Bitcoin reserves totaling 7,696.37 BTC in a logic of financial sovereignty despite IMF pressures.

Bhutan is also among the countries that have developed significant exposure to Bitcoin. Thanks to its energy resources, the country has participated in the development of Bitcoin mining and holds this digital asset in its reserves. This strategy shows that some states now consider Bitcoin a new financial instrument on the same level as certain traditional reserves. The objective is to have an alternative asset in the face of global economic uncertainty.

In this context, Bolivia could also consider Bitcoin as a complementary tool to strengthen the diversification of its reserves. After abandoning its dollar peg and facing difficulties in maintaining sufficient foreign currency levels, the country has an opportunity to explore new financial mechanisms. A Bitcoin reserve would not replace traditional currencies but could offer additional protection against tensions on international markets.

For Bolivia, progressively integrating Bitcoin into a national strategy could represent a new step in modernizing its financial system. The experience of other countries shows that a digital asset can become a diversification instrument when framed by a clear policy. As the country seeks to restore economic stability, BTC could become an additional component of its strategic reserves alongside traditional assets.

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Ghiles A.

Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.

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.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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.

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.

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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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.

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.

18 minutes ago

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.

18 minutes ago

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)

18 minutes ago

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.

18 minutes ago

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.

18 minutes ago

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."

18 minutes ago

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:

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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.

9h35 ▪ 6 min read ▪ by Luc Jose A.

Summarize this article with:

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.

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.

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.)

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.

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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.

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.

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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.