Zoomex hosted the second episode of its World Cup Edition X Space as part of the Zoomex World Cup Impact Pledge, bringing together Champions League winner Didi Hamann and three traders: Mario from Forex Trading & Investing, Crank, and Joseph. Fernando Aranda hosted the session, which ran across World Cup analysis, the German squad debate, career philosophy, and the kind of crypto-to-football comparisons that only hold together when neither side takes them too seriously.
The session continued the five-part charity initiative launched in the first episode. Across five World Cup episodes, Zoomex is committing 1,000 USDT per episode to a charity of each football guest’s choosing, rising by an additional 5,000 USDT if the guest’s World Cup prediction proves correct. Hamann backed Japan to beat Sweden and nominated a homeless support charity in Munich, a cause he backs regularly.
Nothing to Lose. Nothing to Fear. Fernando opened by asking which is harder, a match you must win, or a match you cannot afford to lose. Hamann said the question had never been put to him that way before, and his answer repositioned the difficulty entirely.
“I always say in football, the hardest thing in football is when you play against a team that has nothing to lose. If that makes sense, because we’ve seen a lot of upsets. When a team has nothing to lose, they’re the most dangerous because they just go for it. And if they lose, they lose. It doesn’t matter. But if they win, they can win everything or gain everything.”
That is a different pressure to manage than needing to win. A team chasing a must-win result still operates inside a calculation. A team that only stands to gain has discarded the calculation entirely. From that point of view, he said, having to win is probably the easier of the two situations to be in.
Morocco against Italy was the recent example the panel kept returning to. South Africa against South Korea was another. “Nobody gave them a chance, and here they are in the last 32.”
Crank had watched the same dynamic unfold in markets many times. Traders who enter without a prebuilt plan are playing from the same emotional state as a team with nothing to lose: exposed, reactive, and without the protection that structure provides. The difference is that in trading, the cost of that freedom comes directly out of your account.
The Game Does Not Change at 3-0 Down. As a holding midfielder, Hamann gave himself one instruction regardless of what the scoreboard said, and he never deviated from it.
“I always felt in my position I couldn’t afford to give the ball away because we have players who need to take risks. They give the ball away more often naturally because they have to take chances. And I always felt in my position I had to play the same way whether we are 3-0 up or 3-0 down because I wasn’t the one changing games, scoring goals or setting up goals. It wasn’t my job and I couldn’t do it. But we had players to do that.”
The players around him were Steven Gerrard, Luis Garcia, Cissé, Baros. His job was to win the ball, protect the structure, and put it in their feet as quickly as possible. Getting carried away when the scoreline was comfortable, or trying to do things that were not in his nature when 3-0 down, both produced the same result: a team that had lost its shape.
Istanbul in 2005 is the case study. Hamann came on at half-time, three goals down against an AC Milan side regarded at the time as the best club team in the world. He was warming up on the touchline when the second half was about to begin, and his read was simple.
“I was sure, warming up at half-time, because obviously I came on at half-time, I was sure if we scored one, I’m sure we scored a second one. And then if it’s 3-2, even the most experienced teams do make mistakes. And then after that first goal, the stadium came, there were 40,000 or 50,000 Liverpool fans. And I think AC Milan all of a sudden thought, maybe it’s not over.”
Three goals in six minutes. Penalties after that. He acknowledged luck was part of it, but the more durable point was that the process did not change. Win the ball. Do not concede the wrong goal. Give the ball to the people with the license to take risks.
Cissé had been a guest the previous week and described the same locker room from the other side. Joseph in this session brought the parallel into trading directly: “I always start with a plan, like a coach picks his starting eleven before the match. But if the market moves against me, don’t wait too long. Just like a coach, make a quick substitution when the team is losing control. I exit my position early instead of hoping for a comeback. Sticking to a plan is good, but being too stubborn can really hurt you. At the end of the day, the best traders are not the ones who are always right. They are the ones who know how to manage risks when they are wrong.”
Attack Is Not Enough. Fernando raised the old argument: attack wins games, defence wins championships. Hamann agreed, then sharpened it.
“It’s almost impossible to outscore teams on a regular basis. I do think just attack won’t win. You need a good defence, you need a balance in your team, and a good-holding midfielder. You might get to the quarters, you might get to the semis, you might even get to the final. But I don’t think you win the whole thing.”
The Barcelona side that most people reach for as the purest attacking team of the modern era, Messi, Suárez, Neymar, still had Puyol and Piqué in central defence and Busquets holding midfield. That Busquets point is the sharper one: the best attacking team of the generation was built around arguably the best defensive midfielder of the same generation. France in this tournament ticks the same boxes from the other direction. Mbappé at the front, two of the best centre-backs in the world behind him, a holding structure that does not give teams the space to breathe.
Real Madrid is the present-day example of what happens when the balance is off. The attacking quality is not in question. The defensive midfield structure lags, and at the tournament stage, one bad half against the right opponent ends everything.
On the type of error he finds hardest to watch, Hamann drew a precise distinction. “I don’t mind the technical fault or mistake. You know, if a ball bounces, if you misplace a pass, it shouldn’t happen, but it happens. But what I don’t like is when teams, especially in the Champions League or now in the World Cup, when they make mental mistakes. You see it all the time when they give the ball away in areas where they shouldn’t play, where they get a bit too smart and think they get away with it. You shouldn’t make a mistake because you don’t think. This is what drives me crazy.”
A technical error can be explained by the surface, by fatigue, by a fraction of a second lost to distraction. A mental error has no comparable excuse. At the highest level, with everything on the line, the only reason to stop thinking is overconfidence.
The trading panel had the same split. Mario put it cleanly: “The market is the man and we follow the market. It doesn’t make sense not to change your view if the market is against you. You only lose money when you do it like that.” The stop loss is the instrument that enforces honesty when the mind is arguing for one more minute, one more candle, one more reason to stay in. Mario gave it the most useful name of the session: “The stop loss is like being a good defender. Maybe like the libero. The last man. If you kick him, then you get a red card. That’s the stop loss. Last line of defence.”
Joseph extended the metaphor into position sizing: “It’s just like a football defence. If your back line is not organised, even a great goalkeeper cannot save you every time. In trading, protecting your capital is like protecting your goal. If you defend well, you will always have another chance to win.”
Brazil to Win. Angelotti to Manage. Hamann had made his tournament pick before the first game was played, and he was not changing it now.
“I said at the start of the tournament, I said Brazil, because I think it’s a long tournament. It’s 48 teams now, so it’s a week, 10 days longer than it was before. And there will be at times, there will be a few problems within the team, and you need somebody to handle it and manage it. And I think in Angelotti, they’ve got the perfect man.”
The best defence. A very good attack. An open question in midfield. And the right coach for a campaign that will test squads not just tactically but in terms of internal management. His second breath went to France. “I stick with Brazil, but I think it will take a very, very good team to beat France.”
Germany occupies a different kind of space in Hamann’s thinking, somewhere between professional assessment and obvious personal investment. The read on the squad was honest. Undaf, used so far as the impact substitute, should stay there.
“He’s probably the best sub, the super sub of this tournament. He’s probably the best player coming on in this tournament. So why change it? Because everybody knows when he comes on, there’s a boost going around the ground. There’s a boost going through the team and everybody goes, oh, he’s coming on. We’ve got a chance.”
That psychological effect disappears the moment he becomes expected from the first whistle. The weapon works because it has been withheld. Sané has not delivered on the first two games. Wirth is settling in. Musiala, five months back from a serious injury, has been anonymous by his own standards. Schlotterbeck’s absence has cost the defensive structure its balance with the left foot. Mecha has been the best German player in the tournament and may emerge from it as one of the most watched midfielders in Europe.
On the group stage as a concept, Hamann was pragmatic. “You just have to get out of the group. Nobody talks. Once you get to the last 32, last 16, nobody cares how you got out of the group, how you played in the group. That’s when it matters.”
Crank’s read on the Bitcoin market was built with the same long-cycle logic. He described taking short positions near the top, closing them on the way down, and watching the four-year cycle move toward what he sees as a floor. “Bitcoin is exactly where it should be. My levels right now are golden pocket between 54 and 57. I’m waiting for one more big capitulation, scare you pretty bad, and then we can, based off of four-year cycle theory, start our accumulation phase and bottoming out, which for me is between 41 to 46,000.” Mario put his own range at 43,000 to 45,000 and believed the bottom would arrive within 100 days of the session. Joseph agreed with the range. The disagreement was mostly about timing.
Dark Horses and an 18-Year-Old Who Plays Like a Veteran Among the nations that had caught his attention, Hamann pointed first to the home contingent. Canada had been exceptional. Mexico against England at the Azteca, with altitude and a full home crowd, would be nobody’s idea of a comfortable draw. “That won’t be an easy game. If they play Mexico City, the Azteca with altitude, it’s not an easy thing to beat them there.”
South Africa had made the sharpest impression. “The way they played yesterday. It was absolutely brilliant. Nobody gave them a chance, and here they are in the last 32.”
Japan was his most dangerous selection from outside the traditional powers. “I think Japan is really a dangerous team. Beat Germany four years ago in Qatar. I think they beat Spain as well. They’ve got that vision. They want to, I think before 2050, they want to be world champions. They want to win the World Cup. Not sure it’s going to happen this year. But this is a nation that improves year after year after year.”
Ivory Coast came up without prompting. “The first 60 minutes against Germany, I think they played exceptionally well. Germany was second best in every aspect.” A team that outplays Germany for an hour in a major tournament is not an accident. They are a dangerous team going forward.
On Morocco, Hamann pointed to an 18-year-old central midfielder without being asked. He had heard about the player before the tournament. He saw him play. Then he looked up the age again.
“Brilliant. 18 years of age, the maturity he plays with, I couldn’t believe. I heard of him before, then I saw him, then I had to look again. How old is he? 18 years. Because usually, central midfielders, they get into the best age, 22, 24, because experience counts for a lot. But the way he plays, how composed. At 18 years of age, unbelievable.”
The Hardest Opponents. The Best Teammates. On the midfielder who made his career most uncomfortable, Hamann did not hesitate. There were players across the years who tried to get inside his head, who wanted him in a conversation on the pitch, who looked for ways to make him react. “I never spoke to the opposition and very rarely spoke to the referee. So that didn’t really bother me.”
The frustration with Patrick Vieira was entirely different: it was purely about quality.
“The most frustrating was probably the best one I played against because he was like a Rolls-Royce. He was quick, he was strong, he could pass, he played in an exceptional team with Arsenal. It was no joy playing against him because he was so good. For me, he was the best and I had never fun playing against him.”
That Arsenal side was the backdrop that made it worse. Vieira in an average team is one problem. Vieira in one of the best club sides he faced across his entire career is a different afternoon entirely.
On the other side of the ledger, the question of superstars and teams produced one of the clearest statements of the session. Messi, Mbappé, Ronaldo, Haaland: are they the reason teams win, or is it the other way around?
“It’s got to be the team. But I think all these guys, they all know that they couldn’t succeed without the team. On your own, you’re nothing. As good as they are, but you need 10 other players. And I think the best example was the last World Cup, where really 10 players worked for Messi and then he made the difference. And that’s how it should be, because you need to cover all the bases as a team.”
On the next German superstar, Hamann was direct. “I said he’s too good to fail because it’s the best player I’ve seen in the last 20 years in a German shirt.” Wirth had a difficult debut season at Liverpool. A new manager changes the conditions. Mecha he views as deeply undervalued. “He’s not a flash player, but he does the things nobody wants to do. He makes it really very efficient. He’s got pace, he’s got physicality, he can score a goal. I think Mecha was very underrated in the last few years. We might even see him at a huge club after the World Cup because now everybody took note of him.”
No Emotions. No Exceptions. Fernando drew the bridge between the two halves of the session: coaches change systems mid-game when the plan stops working, and traders change positions when the market moves against them. The panel each described how they handle that moment.
Crank’s answer was the most absolute. “No emotions in day trading. You are up against robots. Within these algorithms, emotions do not exist. And anybody that trades for a living or is just getting started needs to understand that you’re going to be so numb that you do the same thing every single day. But it’s a system. And once you have it to where it works in your favour and you have it dialled in, you don’t make those adjustments.”
His summary of the choice at the centre of trading was the most direct line of the session: “Do you want to be right, or do you want to be rich?”
Mario agreed without qualification. “No emotions in trading. That’s the worst thing you can do. You have to just shut down your emotions. Just stick to your plan. Every day doing the same thing that works. And emotions don’t work.”
Joseph described what happens after a stop loss gets hit, a moment most traders find more disorienting than the loss itself. “Getting stopped out and watching the price go back up, that’s one of the most annoying things in trading. But I have a personal rule: after a stop loss, I take a short break, maybe 15 to 30 minutes before opening any new trade. This stops me from revenge trading. It’s like a player who misses a penalty. The best one would take a breath before playing on, not react emotionally. Every loss is a lesson, but revenge trading usually turns one mistake into two.”
Crank closed on the cycle and what it means for the audience watching right now. “Now’s the time more than ever to exit out all the noise and really focus because this is where you separate the boys and girls from the men and women. Be violent with your education right now because this is where lives are changed.”
Which Team Is Bitcoin? Fernando asked the panel to map the major assets to national teams in the tournament.
Brazil collected the Bitcoin allocation from most of the panel. The longest track record, the deepest global fanbase, the benchmark that everything else gets measured against regardless of current charts. Joseph assigned it to Argentina, with a specific reason: the 2022 World Cup, where ten players organised themselves entirely in service of one, and the one delivered. That, in his view, is the most accurate representation of how Bitcoin’s entire ecosystem functions around a single thesis.
France drew Ethereum from most voices, technically foundational, expected to perform at the highest level, measured against a standard that was set years ago and has not yet been surpassed. Portugal went to Solana: fast, direct, talent-driven, with a single player whose presence changes every calculation. Mario broke from the group and pointed to Spain or the Netherlands as the surprise allocations, teams that could outperform expectation the way an asset can when its narrative catches up with its fundamentals.
On which of the major tournament favourites exits earliest, France drew the most votes, followed by Germany. Mario, thirty years a German football supporter, crossed his fingers rather than naming names.
The Lesson From the Zoomex Space The thread connecting both halves of the session was what holds together when the situation changes and the original plan no longer applies.
Hamann’s philosophy as a midfielder, do not vary the process at 3-0 up or 3-0 down, is the same discipline the traders described as the line between consistent performance and emotional reaction. It is not about suppressing the awareness that the situation has changed. It is about having decided in advance what you do when it does.
The 2005 Champions League final is not a story about hope or momentum or the magic of a particular night. It is a story about a team that kept doing the right things in the right order while three goals down, until the conditions changed. “If there were no mistakes, there wouldn’t be any goals,” Hamann said. That applies to both sides of the ball. The team that keeps its structure in a crisis does not create the opening. It creates the conditions for the opening to appear.
Crank’s question applies equally. In football and in markets, the answer to the question of whether you want to be right or rich determines how you behave when the scoreline, or the chart, tells you something you do not want to hear.
The Zoomex World Cup Impact Pledge continues across three more episodes, each with a new football guest, a new charity selection, and a prediction on record. Brazil is going to win the World Cup. Didi Hamann said so, and the charity pool for Munich’s homeless depends on Japan clearing the first hurdle.
About Zoomex Founded in 2021, Zoomex is a global cryptocurrency trading platform with over 3 million users across more than 35 countries and regions, offering 600+ trading pairs. Guided by its core values of “Simple × User-Friendly × Fast,” Zoomex is committed to fairness, integrity, and transparency in delivering a high-performance, low-barrier, trustworthy trading experience.
As an official partner of the Haas F1 Team and global brand ambassador partner of goalkeeper Emiliano Martínez, Zoomex brings the same focus on speed, precision, and discipline from the racetrack and the pitch to trading. The platform holds regulatory licenses including Canada MSB, U.S. MSB, U.S. NFA, and Australia AUSTRAC, and has passed security audits conducted by Hacken.
Bitcoin is trading at 59,800 dollars this Monday, up 0.6% over 24 hours, but still below the psychological threshold of 60,000 dollars. The market structure remains bearish, despite a slight rebound in Solana and a lull in volatility indices. How long will sellers keep control?
In Brief Bitcoin has dropped more than 50% since its October peak, and analysts anticipate a continued correction. The implied volatility index BVIV fell 5% to 47%, ending two consecutive weeks of gains. CoinMarketCap’s Altcoin Season indicator remains stuck at 49/100, signaling widespread market hesitation. Derivatives Confirm Investors’ Caution Positioning data on futures contracts paint an unpromising picture. Over the last 24 hours, more than 200 million dollars in positions were forcibly liquidated, the majority being longs. Open interest on bitcoin has returned to early-month levels, erasing the advance to 775,000 BTC recorded on Friday.
On Deribit, BTC options continue to favor puts. The 60,000 dollar put option now shows nearly a billion dollars in open notional interest, compared to 1.11 billion for the 80,000 dollar call option. If the price falls below this level, the next significant cluster of options is at 50,000 dollars, with 712 million dollars in open interest.
The adjusted cumulative 24-hour volume delta remains negative for 22 of the top 25 tokens. Sellers dominate flows, placing market orders rather than limit orders.
Solana Rebounds, But Durability Questions Remain Unanswered Solana has risen more than 13% since Thursday, after touching its lowest level since the end of 2023 earlier this month. However, this rebound has not convinced investors to take leveraged positions. Open interest on SOL remains high at 72.70 million SOL, just below the record 76 million reached on June 24, suggesting potential for increased volatility.
AVAX shows a similar situation. Despite rising more than 5% last week, open interest continued to decline, falling to 38.07 million tokens, its lowest since April 1. A rebound without conviction, which positioning data struggles to validate.
Meanwhile, some analysts highlight that bitcoin operates in a zone of historical undervaluation according to long-term indicators, with the current price below its 200-day moving average less than 10% of the time across its entire history.
The overall picture remains unfavorable in the short term. Massive liquidations, the decline in open BTC positions, and persistent apathy towards altcoins all point to the same diagnosis: investors are waiting, without conviction to buy.
The Altcoin Season index stuck at 49/100 confirms that the market will only regain altitude if bitcoin clearly breaks above 60,000 dollars. A single trigger could change the dynamics: a weekly close above this threshold. For now, sellers set the pace.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
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.
More than 550,000 BTC moved to deposit addresses linked to Binance and OKX as Bitcoin retested the $60,000 area, according to CryptoQuant analyst Darkfost. The transfers came during a weak period for Bitcoin, when traders have focused on whether the $59,000–$60,000 range can hold as support.
Summary
More than 550k BTC moved to Binance and OKX deposit addresses during Bitcoin’s $60k retest. CryptoQuant says the spike may show potential selling pressure, but not completed market sales yet. Recent exchange data shows BTC holdings rising while stablecoin balances decline across major trading platforms. “550 000 BTC flood Binance and OKX a level last seen during the 2023 Bear Market,” Darkfost wrote. The analyst said more than 220,000 BTC moved to Binance-linked deposit addresses, while more than 330,000 BTC moved to OKX-linked deposit addresses.
🗞️ 550 000 BTC flood Binance and OKX a level last seen during the 2023 Bear Market
BTC has been moving sideways since February, after testing the $60,000 level for the first time.
→ This sideways action makes investors even more sensitive to the smallest price moves,… pic.twitter.com/xUH9PKmrvF
— Darkfost (@Darkfost_Coc) June 29, 2026 The data does not mean that all coins were sold. Deposit addresses are often the first stop before funds move into an exchange’s main wallets. Users may send BTC there for selling, collateral, trading, custody changes or internal transfers. Still, large exchange-bound flows often draw attention because they can raise near-term sell-side pressure.
Bitcoin’s $60k level remains under pressure The move came as Bitcoin tested a key price area after several weeks of weaker trading. A recentBitcoin price analysis said BTC briefly fell below $59,000 as ETF outflows and long liquidations hit the market. The same report said short-term holders were sending coins to exchanges at a loss, raising questions about capitulation and seller exhaustion.
“BTC has been moving sideways since February, after testing the $60,000 level for the first time,” Darkfost wrote. He said that rangebound trading made investors more sensitive to small price moves near the edges of the range.
That context matters because Bitcoin traders often treat $60,000 as both a technical and psychological level. A clean recovery can ease pressure on leveraged positions. A break lower can invite more selling, especially when large deposit flows appear at the same time.
Binance and OKX flows raise caution Darkfost said the latest transfer activity was well above normal. He compared it with yearly averages of about 60,000 BTC for Binance-linked deposit addresses and about 95,000 BTC for OKX-linked deposit addresses. The latest totals were far higher than those figures.
“These inflows suggest that this new test of $60 000 sparked panic among many investors on Binance and OKX,” Darkfost wrote. The comment points to fear-driven transfers rather than proof of actual liquidation.
Recent exchange data also shows changing user balances across large platforms. A Binance proof-of-reserves report showed users added 25,838 BTC in May, lifting reported BTC holdings to about 630,000 BTC. The same snapshot showed USDT balances fell by about 460 million tokens.
Reserve data offers only a snapshot Proof-of-reserves and exchange-flow data can help traders track where coins move, but they do not show full intent. A transfer to a deposit address can lead to a sale, but it can also support derivatives trading, collateral moves or wallet management. That makes the size of the flow important, but not final evidence of market selling.
A recent proof-of-reserves explainer noted that exchange transparency tools show on-chain assets and, in stronger versions, customer liabilities. The guide also said such reports cannot fully confirm off-chain obligations, asset claims or long-term exchange health.
The latest CryptoQuant data adds another caution signal as Bitcoin trades near a watched support zone. If the coins later move into exchange wallets and sell orders rise, pressure could increase. If the transfers fade without heavy spot selling, the move may remain a stress signal rather than a confirmed selloff.
Bitcoin’s retest of the $60,000 level didn’t just bounce on charts. It pulled a huge volume of coins toward centralized exchanges, the kind of movement that last appeared when sentiment was still bleeding out in the 2023 bear cycle. According to the original report from CryptoQuant analyst Darkfost, more than 220,000 BTC hit deposit addresses linked to Binance and another 330,000 BTC went to OKX as prices hovered around the $60,000 handle. That combined 550,000 BTC surge dwarfs anything recorded in recent quarters and immediately changes the conversation about near-term supply pressure.
The raw numbers are large enough to make market participants pause. Transfers to exchange deposit addresses don’t confirm completed sales, and CryptoQuant itself cautions against treating them as direct sell orders. Still, the reason traders react to such flows is simple: when coins move onto venues where they can be dumped with a click, the probability of at least partial liquidation rises. During the worst stretches of the 2023 bear market, similar deposit spikes often preceded heavy drawdowns, even if the timing wasn’t always instant.
The Size of the Move and What History Suggests Bitcoin’s last acute phase of exchange-bound accumulation came during the prolonged selloffs that pushed prices far below $30,000. By contrast, the current moment shows the asset still trading at multiples of that floor, which makes the deposit activity harder to read. Some holders may be taking profits after a strong run. Others might be rotating into altcoins or using BTC as collateral on derivatives platforms. Binance and OKX together account for a huge share of global BTC derivatives volume, so it’s plausible that a meaningful portion of these transfers is destined for futures margin rather than spot selling.
Even so, analysts who track exchange wallet clusters note that inflows of this magnitude rarely resolve without some impact on market structure. The fact that activity jumped precisely as Bitcoin poked at a psychologically important level suggests at least some longs are de-risking. This is a common pattern when an asset retests a round number that previously acted as resistance or, in this case, a level tied to recent distribution.
Liquidity, Order Book Depth, and Exchange Dynamics Binance and OKX are two of the deepest spot and derivatives venues, so 550,000 BTC on their deposit addresses does not mean 550,000 BTC is waiting inside thin books. However, this sort of concentration also flags how much the market’s liquidity backbone still rests on a few centralized entities—especially when regulator-driven uncertainty hangs over the sector. As Washington debates landmark crypto legislation, and banks push to reshape rules that could upend exchange operations, the importance of orderly venue mechanics can’t be overstated. A period of elevated deposits arriving just as regulatory outcomes remain unclear adds another variable for market makers managing inventory risk.
Not all the activity points to near-term bearishness. On the institutional side, the real-world asset market recently crossed $20 billion on-chain, and traditional finance integration is accelerating—visible in moves like the latest tokenization roundup where Bullish’s $4.2 billion acquisition and Ondo’s JPMorgan settlement signal deep capital commitments. In that context, some of the BTC flowing to exchanges may simply be pre-positioning for OTC deals, treasury moves, or prime brokerage arrangements rather than a rush to sell into spot liquidity.
Where the Market Goes From Here The next few sessions matter more than the deposit snapshots themselves. If order books absorb the potential supply that these transfers represent without a sharp price break, it would suggest a relatively healthy underlying bid. If, instead, spot and derivatives markets start showing sustained selling that tracks these inflows, then the alarm bells become harder to ignore. Bitcoin has repeatedly shown that large exchange deposit spikes are signals worth respecting, even when other indicators look constructive.
A broader point about ecosystem strength lurks beneath the noise. Developer activity remains widely distributed across major blockchains like Ethereum and Solana, as highlighted in this week’s top blockchains by developer activity, and that kind of sustained building often provides a floor for market confidence over cycles. It doesn’t immunize price from short-term selling pressure, but it reminds traders that exchange deposit dumps aren’t the whole story. The real question for now isn’t whether 550,000 BTC moved to Binance and OKX—it’s how much of it stays there as actual orders, and whether buyers step in before the books tilt too far in one direction.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
Foreign investors pulled massive capital out of South Korea's stock market, with net sales of KOSPI stocks hitting a new single-day record on Monday.
Foreign investors net sold KOSPI stocks worth 7.7 trillion won (approximately $4.98 billion) on Monday, marking the largest single-day sell-off on record.
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The A-share semiconductor sector turned higher following South Korean stocks, with Huahai Qingke surging 19.01%.
On Monday morning, the A-share semiconductor sector briefly tracked a pullback in related South Korean stocks. The KOSDAQ index triggered a program trading circuit breaker during intraday trading, with a maximum drop of 3.8%. Chip giants Samsung Electronics and SK Hynix saw sharp opening dips, but the decline was soon halted by news of a new round of expansion in South Korea's storage chip chain. Earlier in the afternoon, the South Korean government released its latest industrial plan. President Lee Jae-myung stated that South Korea must push forward with the construction of chip production facilities as soon as possible, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and will allocate at least 30 trillion won over the next 15 years to semiconductor sectors including next-generation memory, edge AI, and defense. In response to the news, South Korea's KOSPI index turned from decline to gain in the afternoon, while related A-share stocks rebounded in tandem. Among them, Huahong Qingke surged 19.01%, Microtech Corporation rose 8.58%, Anji Technology gained 9.46%, Shanghai Silicon Industry climbed 11.30%, Coremax increased 9.06%, and Huace Testing & Control advanced 10.21%.
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Japan and South Korea's stock markets closed higher.
According to Bitget market data, the Nikkei 225 index closed up 107.23 points on Monday, June 29, with a 0.15% gain, ending at 69,468.11 points, after earlier dropping more than 1%. South Korea’s KOSPI index rose 5.62 points on the same day, a 0.07% increase, closing at 8,416.83 points; the country’s KOSDAQ (its main tech-focused index) gained over 8% in the session. After Samsung and SK unveiled their investment plans, the KOSPI index erased a decline of up to 3.4% to turn positive intraday, while small-cap benchmark KOSDAQ also rebounded.
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Iran's Deputy Foreign Minister: Convening the First Meeting of the Iran-Oman Joint Commission on the Strait of Hormuz
Iran's Deputy Foreign Minister announced that the first meeting of the Iran-Oman Joint Commission on the Strait of Hormuz was held.
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Online reports indicate that South Korea’s previously expected aggressive investment of 2000 trillion won has materialized at 800 trillion won, easing market sentiment and triggering a minor rebound in the stock prices of Samsung and SK Hynix.
Hyperinsight’s monitoring shows that South Korea’s semiconductor sector rebounded in the afternoon. The previously-feared 2,000 trillion won investment plan was ultimately realized as a semiconductor project worth around 800 trillion won (approx. $518 billion). This is likely because capital expenditure pressure fell short of some market participants’ expectations, leading to eased risk aversion and narrowed losses. On Hyperliquid, SK Hynix (1H) rebounded by 4.5% at one point, currently quoted at $1,730; Samsung Electronics rose 2%, currently at $214. Currently, the average entry price of long positions for large holders of the two on-chain assets is $1,608 and $217.3 respectively, with Samsung Electronics trading below the moving average of long-position whales.
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Recently, over 550,000 Bitcoin have flowed into deposit addresses of Binance and OKX, marking a new high since the 2023 bear market.
Crypto Quant analyst Darkfost noted in a post that as Bitcoin recently dipped below $60,000 again, a large number of investors have transferred their Bitcoin to exchanges. Data shows more than 220,000 BTC flowed into deposit addresses linked to Binance’s hot wallet, and over 330,000 BTC entered OKX-related deposit addresses, totaling over 550,000 BTC—marking the largest such inflow this year and the highest level since the 2023 bear market. Typically, when users plan to sell Bitcoin, they first transfer funds to deposit addresses before aggregating them into the exchange’s operational wallet. As such, this massive inflow reflects panic among some investors after Bitcoin tested the $60,000 threshold, with increased potential selling pressure. However, the data does not mean all these BTC have been sold; it only signals a rise in exchanges’ selling willingness.
As the weekend began, Bitcoin found itself battling to regain the psychologically important $60,000 level. The cryptocurrency managed to reclaim this threshold, and as volatility eased compared to previous days, some technical indicators on short-term charts began to support expectations of a potential recovery.
RSI indicator draws renewed attentionAmong the most closely watched technical data in the crypto market is the Relative Strength Index, or RSI, which generated notable signals during Bitcoin’s recent wave of declines. On hourly charts, the formation of higher lows indicated that buyers were stepping in at key levels. Meanwhile, on four-hour charts, while price made lower lows, the RSI showed higher lows—a classic bullish divergence that could hint at a possible market reversal.
A trader known by the pseudonym Rod compared the current market structure to the final phase of the 2022 bear market. In his post on X, Rod argued that the current pattern is reminiscent of historical market bottoms.
Rod observed that once the similarity in the chart structure is recognized, it becomes increasingly difficult to ignore its implications.
Back in 2022, a bullish divergence on the weekly RSI coincided with Bitcoin forming a bear market low around $15,600. Because of this precedent, some analysts are closely monitoring the emergence of a similar technical pattern now, seeing it as a potential signal for the formation of a durable price floor.
Mini glossary: The RSI is a technical indicator that measures the speed and strength of an asset’s recent price movements. Bullish divergence occurs when prices hit new lows, but the indicator itself shows a stronger performance, often foreshadowing a potential trend reversal.
Analysts focus on $60,000 supportEarlier in June, the four-hour RSI for Bitcoin dropped to 11.4, marking one of the lowest levels on record. The subsequent recovery attempt has been interpreted by technicians as a market trying to rebound from oversold conditions.
Crypto analyst Lukasz Wydra noted that bullish RSI signals have also been confirmed on the daily timeframe. In the same post, Wydra emphasized that price defense around $60,000 remains evident on Binance, the world’s largest crypto exchange by trading volume.
Lukasz Wydra commented that the bullish RSI divergence is now officially confirmed in Bitcoin’s chart, adding that while the divergence may deepen further, the defense of price levels on Binance is clearly visible.
Wydra described this technical pattern as an encouraging signal. However, not all traders share this optimism. Despite the short-term rally, some believe that downward pressure has not been fully eliminated and warn that the market may not be out of the woods yet.
Calls for lower levels persistNiels Klaver, co-founder of STABL Agency, reiterated his view that Bitcoin could drop to $55,000 before making a significant move, underscoring continued caution even after the recovery above $60,000.
Trader and analyst Rekt Capital pointed out that July often sees an opposite performance to June, raising the prospect of a relief rally next month. However, he cautioned that with the 50-month exponential moving average now confirmed as resistance, any July rebound could be short-lived, and a weakening of the $60,000 support in August might trigger further declines.
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.
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Bitcoin has closed a weekly candle below its 200-week exponential moving average for the first time in the current cycle, a development that has rattled markets but one that analyst Benjamin Cowen says follows a historically familiar pattern.
This Has Happened Before
The last time Bitcoin closed a weekly candle below the 200-week EMA was June 2022, during the depths of that cycle’s bear market. Cowen argued that the current hand-wringing about the four-year cycle being broken or this time being different misses the point. The same pattern has played out repeatedly across prior cycles, and overcomplicating it does not serve investors well.
“Often times Bitcoin drops into June,” Cowen said, pointing to identical June lows in both 2022 and 2018 as reference points. The current June low fits that same seasonal template.
The 2026 and 2018 Parallel Is Striking
Cowen drew a specific structural comparison between 2018 and 2026 that is difficult to ignore. In 2018, Bitcoin put in a low in February, a higher low in late March to early April, and then a lower low in June. In 2026, the exact same sequence played out: a low in February, a higher low in late March to early April, and now a lower low in June.
In 2018 following the June low, Bitcoin saw a brief push higher into early July before selling off again in mid-July back to $6,000. Cowen raised the question of whether the $60,000 level in 2026 is the structural equivalent of that $6,000 level in 2018 and 2019, a line whose sustained breach would signal the market cycle bottom is approaching.
Time-Based vs Price-Based Capitulation
Cowen drew a distinction between two ways this bear market could end, and said investors need to understand both.
The first is time-based capitulation, which he considers the base case. Under this scenario, Bitcoin forms a low early in the summer, stages a counter-trend rally in mid to late summer, and then drops into a final market cycle bottom in the third quarter or early fourth quarter of 2026. This is consistent with how midterm year bear markets have historically resolved.
The second is price-based capitulation, where a sudden catalyst triggers a massive spike in volume, wipes out leveraged positions, fully resets on-chain metrics, and forces the cycle to end earlier than the calendar would suggest. The pandemic crash of March 2020 is the clearest example of this, where an external shock caused exactly that kind of reset and allowed the subsequent bull market to begin.
Cowen added that all three prior bear market bottoms, in 2014, 2018, and 2022, were accompanied by a massive volume spike that has simply not appeared yet in this cycle.
Story Ends Here
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U.S. spot bitcoin ETFs have logged about $4.06 billion in net outflows so far this month, the largest monthly redemption since the products launched.The funds saw roughly $1.79 billion in redemptions last week alone, undercutting earlier expectations of renewed demand following SpaceX’s June IPO.U.S. spot bitcoin ETFs have recorded $4.06 billion in net outflows this month, according to data from SoSoValue. It marks the largest monthly redemption on record, exceeding the previous high of $3.56 billion in February 2025.
Last week, the funds saw redemptions of about $1.79 billion, the second-highest weekly outflow since trading began in January 2024. (These figures could shift slightly based on flows over the final two trading days of the month.)
This trend runs counter to expectations early in the month of renewed demand following SpaceX's IPO on June 12.
Spot ETFs serve as a widely followed barometer for institutional investors seeking regulated exposure to bitcoin without directly holding the cryptocurrency.
June’s outflows followed $2.43 billion in net redemptions in May, bringing the two-month total close to $6.5 billion. That figure is comparable to the current market capitalization of zcash (ZEC), currently ranked among the world’s 15 largest cryptocurrencies by market cap.
On a year-to-date basis, net outflows tally roughly $5 billion in the first half of 2026.
The impact of this collapse in institutional demand is evident in bitcoin’s price performance, which has declined around 30% in the first half, underperforming nearly every major asset class except Strategy (MSTR). Shares in the bitcoin-holding publicly listed firm have tanked by 45%.
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Equities on Crypto Rails: A Platform Comparison
Equities on Crypto Rails: A Platform Comparison
US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
Jun 26, 2026
US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
Why it matters:
US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
Scaramucci Still Rides With SaylorScaramucci reiterated his support for Saylor’s Bitcoin accumulation approach, hinting at the prospect of a turnaround once the current turbulence clears.
“Not a billionaire but you should think about not being left behind,” the Bitcoin bull said. “I ride with Saylor.”
Scaramucci noted that the “Michael Saylor is going to get liquidated” narrative is gaining steam, but there is scope to gain “advantage” by buying at the lows.
Scaramucci’s Advice To NovicesScaramucci also posted a clip from an interview dated April 15, where he urged young investors to do their “homework” and avoid buying Bitcoin “indiscriminately” without conviction in its core attributes.
He also advised a long-term approach to Bitcoin investment, recommending a minimum commitment of four to five years and discouraging trading.
Scaramucci has been a long-standing advocate of Bitcoin and stated last week that it’s been “very consistent” with the typical four-year cycles. He predicted a rally late in the 4th quarter of 2026 into early 2027.
MSTR’s Woes Spook Crypto MarketScaramucci’s advice comes amid a period of heightened skepticism toward Bitcoin and Strategy, a company widely viewed as a Bitcoin proxy.
The apex cryptocurrency has plunged more than 18% in a month, while MSTR stock has plunged 48% in the same time.
After peaking at $543 in November 2024, the stock has dropped to $82 today, with its market capitalization falling from $128 billion to $28 billion. According to Forbes, Saylor’s net worth has dropped from over $7 billion to $3 billion.
Price Action: At the time of writing, BTC was exchanging hands at $60,064.87, down 0.16% in the last 24 hours, according to data from Benzinga Pro.
Strategy shares closed 3.54% at $82.31 during Friday’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.
Image via Shutterstock/ Al Teich
Market News and Data brought to you by Benzinga APIs
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.
Few figures in crypto provoke as much debate as Changpeng Zhao, universally known as CZ. His story reads like a modern parable: a Chinese-born Canadian who worked shifts at McDonald's to support his family, studied computer science at McGill University, and then made a bet so audacious it would reshape global finance.
From Zero to the World's Biggest Exchange Zhao first heard of Bitcoin in 2013 at a poker game. When a fellow player advised him to put 10 percent of his money into it, he went all in instead, selling his Shanghai apartment and investing everything he had. That conviction eventually led him to found Binance in July 2017. After raising $15 million through an initial coin offering, Binance grew into the world's largest cryptocurrency exchange by trading volume in less than eight months. He also launched Binance Coin ($BNB) that same year, a utility token that gives holders benefits such as discounts on trading fees.
The exchange reportedly processes more than $30 trillion in annual trading volume across spot and derivatives markets, and analysts estimate Binance generated between $16 billion and $17 billion in revenue, roughly two and a half times that of rival Coinbase. Forbes values the private exchange at around $100 billion, with Zhao believed to hold approximately a 90% ownership stake.
Legal Reckoning and What Came After Six years after founding Binance, Zhao pleaded guilty to failing to maintain an effective anti-money laundering program following a sweeping US investigation into the company's compliance practices. He agreed to pay a $50 million personal fine, stepped down as CEO, and served four months in a California prison. Binance also agreed to pay $4.3 billion in fines, and Richard Teng was appointed as the new chief executive.
In October 2025, Zhao received a presidential pardon from President Donald Trump. A separate SEC lawsuit against Binance and Zhao, filed in June 2023, was officially dismissed in May 2025. Through it all, his wealth remained largely intact. Less than a year and a half after his release, Zhao re-emerged as the wealthiest figure in crypto, with his net worth surging to roughly $110 billion, a $47 billion increase from the prior year, according to Forbes. The same Forbes estimate places him just ahead of Bill Gates in the global wealth rankings.
In 2026, Zhao continues to rebuild. He channels investments through YZi Labs and maintains an active dialogue with governments on crypto regulation, while also backing projects such as Giggle Academy, a free education initiative. He also published a memoir, Freedom of Money, in April 2026, written largely during his four-month incarceration, offering a personal account of his childhood, his family's move to Canada, and the founding of Binance.
Whether viewed as a pioneer or a cautionary tale, Changpeng Zhao has left a mark on the crypto industry that is difficult to overstate.
Sources:
Changpeng Zhao – Wikipedia
Binance Founder Changpeng Zhao Net Worth Surpasses Bill Gates – Yahoo Finance
What to Know About Trump's Pardon of Binance's Founder – TIME
Bitcoin price jumped 2% after the US and Iran agreed to halt strikes over control of the Strait of Hormuz. However, top analysts such as Rekt Capital, 10x Research’s Markus Thielen, Benjamin Cowen, and Cheds Trading remain cautious about an immediate recovery in Bitcoin and the broader crypto market.
US-Iran Suspend Strikes Sparks Modest Bitcoin and US Stock Futures Gain Bitcoin and US stock futures are rising following reports that the US and Iran have agreed to halt attacks. This comes as peace talks resume in Qatar this week, Axios reported on June 29.
The conflict escalated after Iran targeted a container ship carrying Qatari oil. The US government revealed retaliatory strikes on Iran after the market closed on Friday. This caused Iran to strike US military bases in Kuwait and Bahrain, escalating Middle East tensions.
Market participants and experts noted that the announcement comes just one hour before US stock market futures are set to reopen. “Carbon copy headline every Sunday evening,” said zerohedge.
Bitcoin price jumped from a 24-hour low of $58,856 to $60,089. The price is currently trading at $59,856, with a 24% rise in trading volume.
Analysts Stay Cautious amid Technical Weakness Despite Bitcoin rebounding after the US and Iran agreed to suspend strikes, analysts have remained cautious over immediate recovery. Several factors such as geopolitical, macro, and technical are keeping analysts on edge.
Popular analysts Cheds Trading and Benjamin Cowen noted that Bitcoin saw its lowest daily close since 2024 and its first close below the 200-week moving average (200-WMA) since 2023. The US strikes came despite the U.S. Senate passed the War Powers Act.
Rekt Capital predicts $61K as the key resistance and Bitcoin price failed to surpass it for the fourth consecutive day. “With the new Weekly, Monthly and Quarterly candle closes all just around the corner, it would be wise to wait to observe those first confirmations for additional insight,” he said.
He recommends investors to wait for June’s monthly close as that would reveal levels where a potential July relief rally would start. Cheds Trading agreed with Rekt Capital on risks of further drop amid technical chart weakness.
Top analyst Markus Thielen revealed their Bitcoin trend model turned bearish on May 22, when Bitcoin traded at $75,600. It has remained bearish despite buy-the-dip sentiment.
Bitcoin Daily Price Chart. Source: Rekt Capital Navigate the fluctuations of the crypto market by following the trades of experienced traders with our recommendations for Best Crypto Copy Trading Platforms.
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.
Foreign investors pulled massive capital out of South Korea's stock market, with net sales of KOSPI stocks hitting a new single-day record on Monday.
Foreign investors net sold KOSPI stocks worth 7.7 trillion won (approximately $4.98 billion) on Monday, marking the largest single-day sell-off on record.
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The A-share semiconductor sector turned higher following South Korean stocks, with Huahai Qingke surging 19.01%.
On Monday morning, the A-share semiconductor sector briefly tracked a pullback in related South Korean stocks. The KOSDAQ index triggered a program trading circuit breaker during intraday trading, with a maximum drop of 3.8%. Chip giants Samsung Electronics and SK Hynix saw sharp opening dips, but the decline was soon halted by news of a new round of expansion in South Korea's storage chip chain. Earlier in the afternoon, the South Korean government released its latest industrial plan. President Lee Jae-myung stated that South Korea must push forward with the construction of chip production facilities as soon as possible, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and will allocate at least 30 trillion won over the next 15 years to semiconductor sectors including next-generation memory, edge AI, and defense. In response to the news, South Korea's KOSPI index turned from decline to gain in the afternoon, while related A-share stocks rebounded in tandem. Among them, Huahong Qingke surged 19.01%, Microtech Corporation rose 8.58%, Anji Technology gained 9.46%, Shanghai Silicon Industry climbed 11.30%, Coremax increased 9.06%, and Huace Testing & Control advanced 10.21%.
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Japan and South Korea's stock markets closed higher.
According to Bitget market data, the Nikkei 225 index closed up 107.23 points on Monday, June 29, with a 0.15% gain, ending at 69,468.11 points, after earlier dropping more than 1%. South Korea’s KOSPI index rose 5.62 points on the same day, a 0.07% increase, closing at 8,416.83 points; the country’s KOSDAQ (its main tech-focused index) gained over 8% in the session. After Samsung and SK unveiled their investment plans, the KOSPI index erased a decline of up to 3.4% to turn positive intraday, while small-cap benchmark KOSDAQ also rebounded.
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Iran's Deputy Foreign Minister: Convening the First Meeting of the Iran-Oman Joint Commission on the Strait of Hormuz
Iran's Deputy Foreign Minister announced that the first meeting of the Iran-Oman Joint Commission on the Strait of Hormuz was held.
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Online reports indicate that South Korea’s previously expected aggressive investment of 2000 trillion won has materialized at 800 trillion won, easing market sentiment and triggering a minor rebound in the stock prices of Samsung and SK Hynix.
Hyperinsight’s monitoring shows that South Korea’s semiconductor sector rebounded in the afternoon. The previously-feared 2,000 trillion won investment plan was ultimately realized as a semiconductor project worth around 800 trillion won (approx. $518 billion). This is likely because capital expenditure pressure fell short of some market participants’ expectations, leading to eased risk aversion and narrowed losses. On Hyperliquid, SK Hynix (1H) rebounded by 4.5% at one point, currently quoted at $1,730; Samsung Electronics rose 2%, currently at $214. Currently, the average entry price of long positions for large holders of the two on-chain assets is $1,608 and $217.3 respectively, with Samsung Electronics trading below the moving average of long-position whales.
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Recently, over 550,000 Bitcoin have flowed into deposit addresses of Binance and OKX, marking a new high since the 2023 bear market.
Crypto Quant analyst Darkfost noted in a post that as Bitcoin recently dipped below $60,000 again, a large number of investors have transferred their Bitcoin to exchanges. Data shows more than 220,000 BTC flowed into deposit addresses linked to Binance’s hot wallet, and over 330,000 BTC entered OKX-related deposit addresses, totaling over 550,000 BTC—marking the largest such inflow this year and the highest level since the 2023 bear market. Typically, when users plan to sell Bitcoin, they first transfer funds to deposit addresses before aggregating them into the exchange’s operational wallet. As such, this massive inflow reflects panic among some investors after Bitcoin tested the $60,000 threshold, with increased potential selling pressure. However, the data does not mean all these BTC have been sold; it only signals a rise in exchanges’ selling willingness.
Bitcoin, the flagship cryptocurrency, is pacing through its most underperforming post-halving epoch to date.
The leading cryptocurrency is currently sitting below the $60,000 level, according to the CoinGecko data.
The significance of Bitcoin halvings The macroeconomic trajectory of Bitcoin has historically been dictated by its "halving" events. These events occur roughly every four years (or every 210,000 blocks).
They are perceived to be bullish because they reduce the issuance of new supply in half (less supply and more demand).
HOT Stories
Bitcoin's price performance is tracked by normalizing returns from Day 0 (the day of the halving) across a full 1,460-day (four-year) epoch.
Historically, each cycle passes through three psychological and technical phases. The "hype" period is traditionally dominated by supply-shock dynamics, intense speculation, and parabolic price appreciation leading to a cycle macro peak.
During the "disillusionment" phase, multi-month crypto winters are characterized by severe drawdowns, capitulation events, and sideways grinding.
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Finally, steady accumulation and recovery take place during the "enlightenment" phase, where the market builds a structural floor ahead of the next halving event.
Bitcoin used to experience massive returns during its post-halving cycles, and some bulls assumed that this would be the case this time around. During the previous cycle, BTC experienced diminishing marginal returns but remained profitable. It concluded its 1,460-day journey in April 2024 at a baseline price of $63,514.
However, during the current cycle, the flagship coin failed to record a traditional "Hype" phase rally. It had been grinding sideways before collapsing and moving to the"Disillusionment" phase.
The orange line has plummeted below the baseline. This means investors who acquired Bitcoin at the time of the 2024 halving are now sitting on net negative returns (which is quite unprecedented).
As reported by U.Today, Galaxy CEO Mike Novogratz recently opined that the cryptocurrency is suffering from the crisis surrounding the leading corporate BTC holder Strategy, as well as concerns about a potential interest rate hike.
A short but busy week lies ahead on the US economic calendar, while markets need to digest the re-escalation of military action in the Middle East.
Crypto markets remained flat over the weekend following a week of heavy losses that saw a further $140 billion leave the space. Military action in the Middle East resumed with the US conducting strikes on Iranian military targets at multiple locations in response to Iran’s drone attack on a commercial ship.
Meanwhile, the TradFi fear and greed index is now down to 24.8, the lowest since early April, reported the Kobeissi Letter. The week ahead is heavy with labor market data, which could further influence the Federal Reserve’s monetary policy.
Economic Events June 29 to July 3 Monday will see the market’s reaction to the resumption of military action, and crypto is already in the red as Bitcoin fails to hold $60,000.
The economic data begins on Tuesday with May JOLTs Job Openings data and June’s CB Consumer Confidence report. These are followed on Wednesday by June’s ISM Manufacturing PMI data, which provides insights into industrial sector health and business conditions.
The big report of the week is the June Jobs report, which comes out on Thursday and may shape the direction of rates and markets, possibly into September, as it is the only employment report the Fed receives before its July meeting.
Continued labor market weakness would validate stagflation concerns about supporting growth versus containing prices, reported BarChart.
A hot report would result in higher rates priced in, which makes conditions tougher for risk assets such as crypto. However, the market is priced for a soft number, so the bigger danger would be a surprise to the upside.
You may also like: Bitcoin and Gold Are Bleeding – So Where Is the Money Going? Ripple CEO Praises XRP, Questions Strategy’s Impact on Bitcoin and Crypto Prediction: Bitcoin Could Bottom Between $42K and $44K This Year Key Events This Week:
1. US Markets React to Strait of Hormuz Strikes – Today
2. May JOLTs Job Openings data – Tuesday
3. June CB Consumer Confidence data – Tuesday
4. June ISM Manufacturing PMI data – Wednesday
5. June Jobs Report – Thursday
6. US Markets Closed, Happy 4th…
— The Kobeissi Letter (@KobeissiLetter) June 28, 2026
Crypto Market Outlook The overall outlook is not good, with negative sentiment increasing in the depths of a crypto winter. Total capitalization has fallen to its lowest level since September 2024 at $2.13 trillion, with Bitcoin leading losses as capitulation continues.
BTC lost 1.5% on the day, falling back to $59,000 during the Monday morning trading session in Asia before recovering slightly. It is currently hovering at critical support; if lost, it could trigger a rapid drop to the realized price of around $53,000, a historical bear market bottom.
ETH is already at its multi-year bear market bottom, struggling to make any moves above $1,570 and weakening by the hour.
Crypto opened Monday flat. Bitcoin traded near $59,700, down 0.3% on the day and 6.8% on the week, as a de-escalation in the U.S.-Iran conflict lifted equity futures but left digital assets unmoved, per CoinDesk data.
Ether edged up 0.3% to $1,572, Solana added 1.5%, while XRP and dogecoin continued to slide.
Axios reported Sunday that the U.S. and Iran agreed to fully halt strikes and meet this week in Qatar to resume talks over the Strait of Hormuz and a broader end to the conflict. S&P 500 and Nasdaq 100 futures gained 0.5% as of Monday, but crypto did not follow.
The non-reaction fits the pattern of the past two weeks. Bitcoin jumped on the peace deal signing June 19, then gave it back as the hawkish Fed and ETF outflows reasserted. Traders have now been burned by enough geopolitical relief rallies that the Qatar meeting registers as a maybe rather than a catalyst.
South Korea announced plans to double DRAM production capacity in the Seoul metro area over five years, with Samsung and SK Hynix committing 800 trillion won, about $518 billion, to build four new fabrication plants.
Asian tech hardware shares slid on the rotation, even as eight of eleven MSCI Asia Pacific subgroups gained. The same AI chip trade that whipsawed markets last week remains the dominant cross-asset current.
The test for crypto this week is whether the Iran talks in Qatar produce anything durable, and whether Thursday's PCE print softens enough to shift the Fed narrative. Both need to land to give bitcoin a reason to move.
The crypto market is going through a new period of uncertainty and explanations are multiplying. For Changpeng Zhao (CZ), the former head of Binance, this correction is the result of a cocktail mixing geopolitical tensions, the rise of artificial intelligence (AI), and the natural Bitcoin cycle. A relevant analysis… but not without limitations.
In brief Changpeng Zhao attributes the crypto decline to geopolitics, the rise of AI, and the Bitcoin cycle. The Bitcoin four-year cycle remains relevant, but it is no longer enough to explain the market. Crypto now depends as much on the macroeconomic context as on Bitcoin’s performance. CZ identifies three main causes for the decline in crypto For Changpeng Zhao, the current correction of the crypto market cannot be reduced to a simple market downturn. In a recent interview, CZ puts forward three explanations which, according to him, strengthen each other.
The first concerns geopolitical tensions. In a more unstable international context, investors favor assets considered safer and reduce their exposure to the most volatile markets, including crypto. The second factor is more original. Changpeng Zhao believes that artificial intelligence today attracts a significant share of speculative capital. For two years, AI-related companies have concentrated much of investors’ interest, to the detriment of crypto. Finally, the former Binance leader recalls that Bitcoin historically follows a four-year cycle, marked by a strong rise after each halving followed by sometimes sharp correction. However, this reading deserves nuance. Indeed, Bitcoin ETFs, the rise of institutional investors, and an unprecedented macroeconomic environment make the market more complex than before. The cycle probably still exists, but it no longer explains everything alone.
Does the Bitcoin rhythm still dominate the crypto market? For more than a decade, Bitcoin has imposed its tempo on the entire crypto market. When it rose, altcoins followed. When it fell, the whole ecosystem plunged. This correlation remains strong, but it is no longer as mechanical as before. Today, the market is influenced by many external factors. Central bank decisions, flows to Bitcoin ETFs, geopolitical tensions, and the performance of the AI sector deeply change investors’ behaviors… As observed by Changpeng Zhao.
However, Bitcoin remains the main sentiment indicator, even if it is no longer the sole engine of crypto. Furthermore, institutional investors prioritize macroeconomic data over patterns observed during previous halvings. In other words, BTC retains a central role, but its influence is now embedded in a much broader environment. The real question is no longer whether the market follows Bitcoin, but to what extent it still can dictate the trend.
Changpeng Zhao’s analysis sheds interesting light on the current weakness of the crypto market, without answering all questions. Bitcoin remains an essential reference, but its influence evolves with the maturation of the sector. Are we witnessing the end of the famous four-year BTC cycle or simply its adaptation?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
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.
Foreign investors pulled massive capital out of South Korea's stock market, with net sales of KOSPI stocks hitting a new single-day record on Monday.
Foreign investors net sold KOSPI stocks worth 7.7 trillion won (approximately $4.98 billion) on Monday, marking the largest single-day sell-off on record.
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The A-share semiconductor sector turned higher following South Korean stocks, with Huahai Qingke surging 19.01%.
On Monday morning, the A-share semiconductor sector briefly tracked a pullback in related South Korean stocks. The KOSDAQ index triggered a program trading circuit breaker during intraday trading, with a maximum drop of 3.8%. Chip giants Samsung Electronics and SK Hynix saw sharp opening dips, but the decline was soon halted by news of a new round of expansion in South Korea's storage chip chain. Earlier in the afternoon, the South Korean government released its latest industrial plan. President Lee Jae-myung stated that South Korea must push forward with the construction of chip production facilities as soon as possible, as existing industrial parks are approaching their carrying limits in terms of water resources and infrastructure. Going forward, the country will focus on expanding semiconductor supply capacity through investments in its southwestern region. Under the plan, South Korea plans to build four chip manufacturing plants in the southwestern region, with a total investment of about 800 trillion won, and will allocate at least 30 trillion won over the next 15 years to semiconductor sectors including next-generation memory, edge AI, and defense. In response to the news, South Korea's KOSPI index turned from decline to gain in the afternoon, while related A-share stocks rebounded in tandem. Among them, Huahong Qingke surged 19.01%, Microtech Corporation rose 8.58%, Anji Technology gained 9.46%, Shanghai Silicon Industry climbed 11.30%, Coremax increased 9.06%, and Huace Testing & Control advanced 10.21%.
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Japan and South Korea's stock markets closed higher.
According to Bitget market data, the Nikkei 225 index closed up 107.23 points on Monday, June 29, with a 0.15% gain, ending at 69,468.11 points, after earlier dropping more than 1%. South Korea’s KOSPI index rose 5.62 points on the same day, a 0.07% increase, closing at 8,416.83 points; the country’s KOSDAQ (its main tech-focused index) gained over 8% in the session. After Samsung and SK unveiled their investment plans, the KOSPI index erased a decline of up to 3.4% to turn positive intraday, while small-cap benchmark KOSDAQ also rebounded.
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Iran's Deputy Foreign Minister: Convening the First Meeting of the Iran-Oman Joint Commission on the Strait of Hormuz
Iran's Deputy Foreign Minister announced that the first meeting of the Iran-Oman Joint Commission on the Strait of Hormuz was held.
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Online reports indicate that South Korea’s previously expected aggressive investment of 2000 trillion won has materialized at 800 trillion won, easing market sentiment and triggering a minor rebound in the stock prices of Samsung and SK Hynix.
Hyperinsight’s monitoring shows that South Korea’s semiconductor sector rebounded in the afternoon. The previously-feared 2,000 trillion won investment plan was ultimately realized as a semiconductor project worth around 800 trillion won (approx. $518 billion). This is likely because capital expenditure pressure fell short of some market participants’ expectations, leading to eased risk aversion and narrowed losses. On Hyperliquid, SK Hynix (1H) rebounded by 4.5% at one point, currently quoted at $1,730; Samsung Electronics rose 2%, currently at $214. Currently, the average entry price of long positions for large holders of the two on-chain assets is $1,608 and $217.3 respectively, with Samsung Electronics trading below the moving average of long-position whales.
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SK Group Chairman: Memory shortage will persist
SK Group Chairman Choi Tae-won: Even if SK Hynix speeds up its factory construction, memory shortages will persist. (Jinshi)
Bitcoin is currently experiencing one of its weakest periods following the 2024 halving, with the top cryptocurrency trading below $60,000 according to CoinGecko data. This development stands out in the market, as previous post-halving periods have historically been marked by strong price performances.
The typical halving cycle has broken downThe Bitcoin halving event, which occurs every four years or every 210,000 blocks, is designed to halve the rate at which new coins are created, typically serving as a supportive mechanism for price growth. In previous cycles, market participants observed this supply shock resulting in significant upward momentum and strong returns.
Price performance is tracked over a full 1,460-day cycle, starting from each halving event. Historically, these cycles unfolded in three phases. The first phase generally saw rapid gains driven by the supply shock and heightened speculation. This was followed by sharp sell-offs, extended periods of sideways trading, and a final recovery in the approach to the next halving.
Investors who bought Bitcoin during the 2024 halving now face clear negative returns in the current cycle.
Weaker results compared to previous cyclesIn previous cycles, the period following the halving delivered exceptionally high returns for Bitcoin investors. While the latest cycle saw a slowdown in gains, it still ended profitably, with the 1,460-day timeframe closing in April 2024 at a base price of $63,514.
However, this current cycle has not repeated the pattern of post-halving rallies. After a period of sideways movement, Bitcoin turned lower, disappointing those who anticipated a strong surge on the heels of the halving.
IndicatorPrevious cycleCurrent cycleInitial post-halving outlookPositive returnsNegative returnsPrice actionRally phase observedSideways, then declineCycle closing level$63,514Below $60,000Macroeconomic pressures dominate the marketChart analysis indicates the line representing the current cycle has dipped below its initial starting point, suggesting that investors who bought during the 2024 halving are now in loss territory. Experts note that this pattern is unusual compared to previous post-halving trends.
Galaxy Digital CEO Mike Novogratz attributes the pressure on Bitcoin to ongoing anxieties around industry strategies and concerns over potential interest rate hikes. Galaxy Digital, headquartered in the US, is a major player specializing in digital asset investment and blockchain technology.
Mike Novogratz explained that the stress on Bitcoin stems from both the crisis of confidence around industry strategies and fears of further rate hikes.
As the market looks ahead, the primary question is whether Bitcoin can rebuild a structural base in the later stages of the current post-halving cycle. For now, data suggest the typical robust recovery seen in previous cycles is notably absent this time around.
Despite hopes for a repeat of historical patterns, the current environment has proven less resilient, forcing investors to reconsider their expectations in the aftermath of the 2024 halving.
With macroeconomic uncertainty clouding the outlook and hallmark technical patterns failing to deliver, analysts remain watchful for signals of a potential turnaround or further market weakness in the months ahead.
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.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing early signs of stabilization on Monday after a correction of nearly 6%, 8% and 7%, respectively, over the previous week. BTC reclaims $60,000, ETH is holding firmly above the critical $1,500 support level, while XRP is also attempting to stabilize around the key $1.00 psychological level. The price action of these top three cryptocurrencies is raising hopes of a short-term recovery after massive corrections.
Bitcoin's mild recovery after a sharp correctionBitcoin price recovers slightly, trading above $60,000, after losing over 6% in the previous week. However, BTC is maintaining a bearish bias as price remains below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) at $66,971, $70,592, and $76,516, respectively.
The Moving Average Convergence Divergence (MACD) indicator hovers near the zero line with a marginally negative reading, while the Relative Strength Index (RSI) at 33 sits just above oversold territory, hinting at fading bearish momentum but not yet signaling a decisive recovery.
On the topside, initial resistance emerges at the horizontal barrier around $64,004, ahead of the 50-day EMA at $66,971 and the 100-day EMA at $70,591, which collectively cap the upside and reinforce the broader downbeat structure. Further up, the 200-day EMA at $76,516 and the prior horizontal level at $84,410 form a wider resistance band that would need to be cleared for the medium-term outlook to shift back to bullish. The absence of nearby defined support leaves the pair vulnerable to further downside probes if selling pressure resumes.
Ethereum could rebound if the $1,500 support holdsEthereum price trades at $1,585 on Monday, finding support around the key $1,500 support zone. However, ETH is maintaining a bearish bias, with price remaining well below the 50-, 100-, and 200-day EMAs at $1,833, $2,010, and $2,290, respectively. ETH is attempting to stabilize after the recent slide, with the RSI ticking up to 33, just above oversold territory. At the same time, the MACD has turned marginally positive, hinting at fading downside momentum rather than a decisive bullish reversal.
On the topside, initial resistance emerges at the 50-day EMA near $1,833, ahead of the horizontal barrier at $2,000 and the 100-day EMA at $2,010, with the 200-day EMA at $2,290 reinforcing a broader cap on recovery attempts.
On the downside, the next meaningful support is seen at the $1,500 key psychological level, followed by the previously identified horizontal level around $1,385.00, where buyers could attempt to defend the medium-term floor if selling pressure resumes.
XRP steadies at key $1 markXRP price trades at $1.0542, maintaining a clear bearish bias as it sits well below the 50-, 100-, and 200-day EMAs at $1.2060, $1.3123, and $1.5231, respectively. Price also holds below the downward parallel channel reference at $1.1879 and the horizontal cap at $1.3000, reinforcing a technically capped structure. The RSI at 33 stays in weak territory just above oversold, while the MACD remains slightly negative, both indicators hinting that bearish momentum persists, albeit without a fresh acceleration.
On the topside, initial resistance is seen at the parallel channel level around $1.1879, followed by the nearby horizontal barrier at $1.3000 and the 50-day EMA at $1.2060. Additional supply is clustered higher at the 100-day EMA at $1.3123 and the 200-day EMA at $1.5231. A more distant structural ceiling emerges at the horizontal line near $1.9000.
On the downside, the next meaningful support is seen at the $1.000 key psychological level. Below this level, renewed selling could leave XRP vulnerable to further downside extension until new demand zones emerge on the chart.
(The technical analysis of this story was written with the help of an AI tool.)
Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
Historic bleed at Wall Street! According to Farside data, US spot Bitcoin ETFs just suffered a colossal loss of 1.79 billion dollars in net outflows in a single week. This is the second worst performance since their launch in January 2024. Between Grayscale’s (GBTC) capitulation and BlackRock’s slowdown, the institutional market seems to be faltering. Simple technical correction or major distress signal before a deeper decline? Here’s the full update.
In brief US spot Bitcoin ETFs lost 1.79 billion dollars in the week ending June 26, 2026. This is the second worst week in these funds’ history and their 7th consecutive week of net outflows. BlackRock IBIT accounts for about 73% of the week’s withdrawals, with an average unrealized loss of 40% for its investors. Ethereum ETFs confirm the same trend: marked slowdown in institutional demand. A historic week for Bitcoin ETFs Launched in January 2024, the spot Bitcoin ETFs were hailed as a revolution in the United States. Proof: they raised tens of billions of dollars within months. Enough to propel the BTC price to historic highs. But the week of June 26, 2026 marks a turning point.
With 1.79 billion dollars in net outflows over five trading days, these funds have recorded their second worst weekly performance since inception. The only worse week was at the end of February 2025, which saw 2.61 billion dollars evaporate in a few days.
What fundamentally distinguishes the current situation from the 2025 episode is its duration. In February 2025, the correction was sharp but short. Here, seven weeks have passed without a single week of positive flows from the spot Bitcoin ETFs. For analysts, this persistence is the most worrisome signal.
Bitcoin ETF flows (Source: Farside) According to Farside data, Thursday, June 25, 2026 alone saw 696.29 million dollars in net outflows in a single session. The weekly record! Moreover, almost all of the outflows on June 25 exclusively came from BlackRock IBIT. In one day, this fund saw nearly 7,440 BTC withdrawn. That represents about 691.7 million dollars.
The ETF negative flow crisis is not limited to Bitcoin The US spot Ethereum ETFs recorded 273.34 million dollars in net withdrawals during the same week. This also marks their seventh consecutive week of outflows. June 25 alone saw 82 million dollars in withdrawals from ETH ETFs, while the Ethereum price plunged around $1,510. This wiped out nearly 31 billion dollars in market capitalization.
This synchronization between Bitcoin and Ethereum ETF outflows is significant. It suggests a movement of reducing overall crypto asset exposure by institutional investors.
Chart showing Ethereum ETF flows over a 30-day period (Source: Glassnode) Beyond ETF flows, onchain data paints the same picture. The Coinbase Premium Index, which measures the price gap between Bitcoin on Coinbase and international exchanges, remains in negative territory. A negative premium indicates that US demand is weaker than global demand. This is a bearish signal for US institutional sentiment.
That’s not all! Onchain data also shows a net capital outflow from the Bitcoin network in the recent period, rather than an inflow.
ETF reserves have dropped by more than 63,000 BTC in the last month. The total assets under management of all US spot Bitcoin ETFs fell from a peak of about 170 billion dollars in 2025 to approximately 73 billion today. The current dynamics of Bitcoin ETFs highlight the crypto market’s current dependence on traditional capital flows from Wall Street. The next decisive indicator: the eighth week, and what the Fed will say by then.
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Ariela R.
My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
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.
Leading cryptocurrencies traded in the red overnight on Sunday as renewed U.S.–Iran confrontations threatened a fragile ceasefire.
Crypto Market In Deep SlumberBitcoin attempted a breakout above $60,000, only to encounter sharp selling pressure that drove it below $59,000. Ethereum meandered in the $1,500 region, while trading volume rose 10% over the last 24 hours. XRP and Dogecoin traded in the red.
Over $180 million was liquidated from the cryptocurrency market in the last 24 hours, overwhelmingly from longs, according to Coinglass data
Bitcoin’s open interest fell 0.69% over the last 24 hours. Smart money sentiment remained "extremely bearish," but traders on Binance, both retail and whales, increased their long exposure.
"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 $2.02 trillion, following a decline of 3.38% over the last 24 hours.
Stocks Rally On Hopes Of De-escalationStock futures ticked higher overnight on Sunday. The Dow Jones Industrial Average Futures jumped 147 points, or 0.29%, as of 8:45 p.m. EDT. Futures tied to the S&P 500 climbed 0.40%, while Nasdaq 100 Futures gained 0.19%.
Tensions escalated during the weekend after the U.S. and Iran exchanged fire following an alleged ceasefire violation in the Strait of Hormuz.
Later, a Trump administration official reportedly said that the two sides will “stand down for now” and let vessels move freely in the critical oil shipping point.
‘Pretty Interesting Signal’Popular cryptocurrency commentator Michaël van de Poppe speculated on Bitcoin’s moves once it breaks back above $61,000.
“It would strengthen the thesis of the bullish divergence, and the markets can target the $65,000 resistance [and old support of the range] as the next target zone,” the analyst said. “The fact that the markets aren’t falling deeper with all the panic and fear combined is actually a pretty interesting signal.”
Ali Martinez, a widely followed cryptocurrency analyst and trader, said that heavy selling by whales, roughly $880 million over the past week, pushed Ethereum below its key support at $1,633
“If this distribution trend continues into next week, the next high-volume demand targets for ETH sit much lower at $1,237 and $1,089,” Martinez said.
Photo Courtesy: vinnstock on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
The broader cryptocurrency market continues to trade under pressure, with Bitcoin (BTC) struggling for direction near $60,000 on Monday. Retail sentiment in crypto leans bearish, with CoinMarketCap’s Fear and Greed Index at 15 on Monday, maintaining a sideways trend deep in the “Extreme Fear” zone.
Fear and Greed Index. Source: CoinMarketCapAmid bearish market pressure, Zcash (ZEC) and Jupiter (JUP) are the leading losers over the last 24 hours.
Bitcoin’s uncertainty near $60,000 signals rebound chancesBitcoin hovers below $60,000 at press time on Monday, maintaining a near-term mixed bias. The consolidation near the $60,000 support level reflects bullish resilience guarding the downside to the July 5, 2024, low of $53,485.
The 50- and 200-day Exponential Moving Averages (EMA) at $66,946 and $76,645, respectively, are well above the price, reinforcing a medium-term capped structure. That said, the momentum conditions remain fragile on the daily chart, with the Relative Strength Index (RSI) hovering just above the oversold threshold near 30, while the Moving Average Convergence Divergence (MACD) slips marginally below its signal line, suggesting persistent downside pressure.
BTC/USDT daily price chart.On the topside, immediate resistance above the psychological $60,000 level is the $65,000 round figure, followed by the 50-day EMA at about $66,946.
Zcash hits a make-or-break levelZcash hovers around $375 on Monday, holding steady below the 200-day EMA at $381 after two days of losses. The near-term bias remains bearish, testing the 50% retracement level at $356, measured over the upswing from $184 to $390.
The RSI at 37 shows a pullback from the midline as buying pressure wanes, while the MACD extends below the signal line in the negative territory as the downside histogram expands, hinting at dominant selling pressure.
Looking up, the 200- and 50-day EMAs at $381 and $455 emerge as key upside barriers, followed by the 78.6% Fibonacci retracement level at $520.
ZEC/USDT daily price chart.On the downside, support emerges at the 50% retracement at $356, followed by the 23.6% retracement around $251, ahead of the broader cycle floor near 184.57, where buyers would be expected to more firmly challenge the prevailing bearish structure if reached.
Jupiter capped by key resistance risks fresh lowsJupiter trades close to the $0.2000 psychological mark on Monday, after two consecutive days of losses. The two-day decline reflects a bearish turnaround from an overhead resistance trendline near $0.2350, which capped Jupiter's fourth recovery attempt since October 2025.
A decisive close above this trendline could start a recovery run toward the November 27 high at $0.2662, followed by the October 11 low at $0.3255.
The MACD and signal line risk a bearish crossover, while the RSI at 54 flips downside from the overbought boundary, suggesting a decline in bullish momentum.
JUP/USDT daily price chart.On the downside, initial support is seen at the 50-day EMA at $0.1950, and a daily close back below this level would weaken the current bullish tone and expose the pair to a deeper corrective phase.
(The technical analysis of this story was written with the help of an AI tool.)
In the cryptocurrency market, most major assets are maintaining a weak technical outlook as pressure continues on XRP, SHIB, and Bitcoin. Despite attempts at short-term rebounds, the overall downward trend remains dominant for many leading coins. However, Solana is distinguishing itself with greater resilience following the recent corrections, outpacing its peers with a more stable chart.
Technical weakness dominates XRP and SHIBXRP, which spent months flatlining between $1.30 and $1.50, has broken down below this range, accelerating its decline. This break confirms a bearish continuation pattern, bringing prices perilously close to the psychologically significant $1.00 support. Technical indicators show that XRP remains under intense selling, with prices well below the 50, 100, and 200 day moving averages.
The critical level to watch for XRP is the $1.00 threshold. A decisive drop below this support could unleash a fresh wave of selling.
The relative strength index (RSI) has dropped to 32, edging near the oversold territory. While this may suggest the pace of the downturn could slow, it’s generally insufficient on its own to signal a lasting bottom amid such strong bearish momentum. Should buyers hold the $1.00 area, a recovery toward the $1.14–$1.15 band, where the 50 day exponential moving average lies, could materialize.
SHIB exhibits a similarly bearish pattern, recently breaking below a rising wedge formation. This setup typically signals further downward moves, and SHIB has failed to show any meaningful recovery since. Like XRP, SHIB is trading below all main moving averages and remains near its recent local lows.
The 50 day EMA continues to act as dynamic resistance for SHIB, and recent bounce attempts have not seen a convincing rise in trading volume. This hints that buyers have yet to assert real power. The RSI has dropped sharply to 21, deeply into oversold territory. Still, overall momentum remains with the sellers.
Bitcoin grapples to hold its support regionBitcoin is struggling to stay above the $60,000 level, remaining under intense pressure. The crucial uptrend line that fueled the market’s April and May rebound has now been broken, signaling that the medium-term bullish structure has given way to renewed bearish control. The 50, 100, and 200 day moving averages all sit well above current price levels, reinforcing this negative outlook.
The most critical support for Bitcoin lies between $58,000 and $60,000. Losing this zone could spark a surge in forced liquidations.
Increasing volumes during the recent correction phase point to direct selling pressure, rather than simply a lack of buying. Bitcoin’s RSI hovers near 32, suggesting a short-term rebound may be possible. However, unless prices reclaim the 50 day EMA around $64,000, the primary trend remains challenged.
AssetCritical supportInitial resistanceRSIXRP$1.00$1.14 to $1.1532Bitcoin$58,000 to $60,000Around $64,00032Solana$63 to $65$72 then around $7749Solana stands out with relative strengthIn contrast, Solana is displaying more resilience compared to Bitcoin. Following a steep pullback at the start of June, buyers stepped in forcefully at the $63 to $65 support, helping the price remain above regional lows. The long-term structure is not yet entirely bullish, as SOL also trades under all major moving averages.
However, Solana’s price is now stabilizing near the 50 day EMA around $72 and forming higher lows. This divergence is seen as a positive signal, especially as most other top cryptocurrencies are hitting new local lows. The RSI has climbed back up to 49, suggesting selling pressure has notably subsided.
Solana’s attempted recoveries have translated into rising trading volumes, a sign of strengthening buyer interest. In the short term, holding $72 as support will be critical. Success there could see a move towards the 100 day moving average near $77. If Solana fails to maintain its current level, the $63 support will once again come into focus.
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.
Cover image via depositphotos.com 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.
With price action still adhering to a distinct bearish structure, XRP is still among the market's weakest large-cap assets. XRP broke below the range and accelerated lower after consolidating between about $1.30 and $1.50 for several months. The asset was driven toward the psychologically significant $1.00 support level by the breakdown, which validated a bearish continuation pattern.
The 50-day, 100-day, and 200-day moving averages of XRP are all technically above its current price, reflecting a downward slope. Usually, this alignment means that sellers are still in complete control. The RSI is getting close to oversold territory at 32, indicating that the short-term downside momentum may be running out. However, during severe downtrends, oversold conditions by themselves seldom indicate a bottom.
XRP/USDT Chart by TradingViewThe crucial level to keep an eye on is $1.00. Another wave of selling could be sparked by a clear break below it, opening the door to lower support zones. On the other hand, XRP might experience a relief rally toward the 50-day EMA at $1.14-$1.15 if buyers are able to hold this area. Until the asset regains significant moving averages, the trend remains negative.
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Shiba Inu forms a breakdown SHIB is displaying a quite similar structure. Recently, the asset broke out of a rising wedge formation, which frequently precedes bearish continuation moves. SHIB has not established a significant recovery since the breakdown and is still trading close to local lows. SHIB is still below all of the major moving averages, just like XRP.
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The 50-day EMA is preventing buyers from creating long-term momentum by acting as dynamic resistance. Recent attempts at a bounce have not seen a significant increase in volume, suggesting that bulls are not very confident. SHIB is firmly in oversold territory as the RSI has dropped toward 21.
The overall trend still favors sellers, even though this increases the likelihood of a short-term recovery. The recently broken wedge structure and the 50-day moving average are likely to present obstacles for any recovery attempt.
The current move appears to be more of a continuation of the larger downtrend than the start of a true reversal unless SHIB can recover those levels.
Pressure on Bitcoin remainsDespite its efforts to stabilize above the $60,000 mark, Bitcoin is still under significant pressure. The medium-term bullish structure was effectively terminated and a return to bearish control was confirmed when the asset broke away from an ascending trendline that had sustained the recovery rally from April to May.
The 50-day, 100-day, and 200-day moving averages of Bitcoin are all significantly above the current price on the chart. The market has lost a lot of momentum during the most recent correction, as evidenced by the 200-day moving average near $76,000 becoming a distant resistance level. Additionally, recent attempts at a bounce have not been successful in regaining the 50-day EMA, indicating that sellers still control every relief rally. At 32, the RSI is getting close to oversold territory.
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Although this might encourage a temporary recovery, the overall trend is still negative. Crucially, volume increased throughout the sell-off, suggesting true distribution as opposed to just a lack of buyers. The $58,000-$60,000 support zone is a crucial level to keep an eye on.
Another wave of liquidation pressure could hit the market if Bitcoin loses this area. On the other hand, the first sign that the bearish momentum is starting to wane would be a rebound above the 50-day EMA around $64,000. Until then, sellers continue to have the upper hand and Bitcoin remains stuck in a downtrend.
Solana's breakout potential Solana is showing remarkable resilience in contrast to Bitcoin. Even though SOL saw a significant drop earlier in June, buyers intervened forcefully near the $63-$65 support range, keeping the asset above regional lows.
Technically, SOL is still below its major moving averages, indicating that the long-term trend is still negative. The asset has started to consolidate around the 50-day EMA at $72, and it recently produced a higher low. Many large-cap cryptocurrencies, on the other hand, continue to set new lows. After a period of oversold conditions, the RSI has recovered toward 49, returning to neutral territory.
SOL/USDT Chart by TradingViewThis suggests that selling pressure has significantly decreased. During recent recovery attempts, volume has also increased, indicating real buyer involvement. Regaining the 50-day EMA and establishing support above $72 is the bulls' immediate challenge. A move toward the 100-day moving average near $77 is more likely if that happens.
In the event that current levels are not maintained, the $63 support zone would become more prominent. Even though there is currently no proof of a complete trend reversal, SOL remains one of the more promising assets among the major cryptocurrencies.
Predict.fun’s first World Cup knockout match: Canada vs South Africa, with Canada holding a 58% win probability.
Data from prediction market platform Predict.fun indicates that the first knockout match of the 2026 Canada-Mexico-USA World Cup’s 32-team knockout stage is approaching. The clash between Canada and South Africa will kick off at 3 a.m. Beijing time today. Current predicted win probabilities stand at 58% for Canada (CAN), 16% for South Africa (RSA), and a 27% chance of a draw. The data shows that the market has given higher support to the Canadian national team’s overall strength ahead of the match.
5 hours ago
Predict.fun Launches World Cup 32-Team Knockout Stage Event, Remaining Prize Pool Exceeds $1.1 Million
According to an official announcement from Predict.fun, the knockout stage of the World Cup’s 32-team tournament has officially launched, with the platform simultaneously upgrading its Predict Cup event mechanism. For this knockout round, Predict.fun will open 11 prediction markets per match and boost Fan Points rewards. The official added that the ongoing event still has a prize pool of over $1.1 million up for grabs, with rewards disbursed immediately after each knockout match’s conclusion. Notably, the Canada vs. South Africa match is set to kick off in under 3 hours, with a direct $25,000 reward allocated for this fixture, giving users more frequent chances to participate and win. Predict.fun stated that as the knockout stage commences, the platform will incentivize users to actively join World Cup prediction markets and compete for subsequent prize pool rewards via more markets, higher point rewards, and a more frequent reward distribution system.
5 hours ago
Predict.fun World Cup Group Stage $840,000 Event Rewards Now Available for Claiming
According to official announcements from Predict.fun, rewards for the World Cup group stage event are now available for collection, with the current prize pool totaling $840,000. The platform noted that users who participated and secured rewards during the group stage can now claim them via the platform. With the conclusion of the 32-team group stage, the number of World Cup-related markets on Predict.fun has risen from the initial 6 to 11, providing more trading and points-chasing opportunities for new participants. For the upcoming knockout stage, the platform will release over $1 million in additional event rewards, giving users ongoing opportunities to compete for leaderboard positions and split the subsequent prize pool.
5 hours ago
South Korean investors' borrowings for stock trading hit an all-time high, with record leverage exacerbating volatility in South Korean equities.
South Korean investors’ margin lending for stock trading hits an all-time high: South Korea’s margin loans have reached a record of approximately $26 billion, doubling since the start of 2025. However, when measured as a share of South Korea’s free-float market capitalization, margin lending currently makes up only around 0.8% — the lowest level since the 2020 pandemic low. This is because the sharp rise in South Korea’s total stock market capitalization has far outpaced the growth of leverage. Meanwhile, during the recent market correction, the daily forced liquidation ratio surged to 4-5% of total outstanding margin loans, far exceeding the normal level of roughly 1%. This means that leveraged investors unable to meet margin call requirements are forcing brokers to liquidate 4-5% of all margin positions in a single day. Record leverage is exacerbating volatility in the South Korean market.
5 hours ago
Hyper Foundation to Distribute $10 Million in Grants Amid Phased Exit of USDH Stablecoin
The Hyper Foundation announced it will provide approximately $10 million in grants to help developers affected by the phased shutdown of USDH offset migration costs. The grants are divided into two categories: migration grants for teams that have integrated USDH and are migrating related markets or deployments to USDC; and wind-down grants for teams that choose to terminate USDH-related operations instead of migrating, with amounts lower than equivalent migration grants. Grants for HIP-1 and HIP-3 are calculated based on auction deployment costs, while HyperEVM grants are determined by the amount of affected USDH locked. All grant recipients must commit to completing an orderly migration or wind-down by the end of July. Users can directly swap USDH for USDC on the HyperCore spot order book, or exchange it for free at a 1:1 ratio via the Across Protocol on HyperEVM. The Hyper Foundation thanked all developers who built real markets on USDH, users who supported USDH's growth, and Native Markets for its pioneering work in launching the protocol's native stablecoin. Thanks to the active collaboration of the team and community, the migration process is currently proceeding smoothly and orderly.
5 hours ago
Galaxy CEO: MicroStrategy has evolved into a key confidence signal for the overall Bitcoin market, with $59,000 serving as a critical support level.
Galaxy Digital CEO Mike Novogratz stated that the core reason for Bitcoin’s recent decline is a "confidence collapse triggered by Strategy". The issue extends beyond Bitcoin’s price itself: concerns over Strategy’s financing model are spreading across the market. As the world’s largest public corporate holder of Bitcoin, Strategy’s stocks and senior securities have become key metrics for traders to gauge Bitcoin market risk. Earlier, the company’s Bitcoin flywheel effect came under pressure, with its stock once trading below the value of its Bitcoin holdings—meaning its years-long reliance on the "issuing stock at a premium to raise funds for Bitcoin purchases" model is now facing challenges. Novogratz bluntly noted that STRC (Strategy’s ticker) is trading weakly, and it should have held steady around $100. Currently, Strategy’s annual dividend obligations have risen to roughly $1.2 billion, and shrinking cash reserves have cut the dividend coverage period to just about 14 months. On the macro front, Bitcoin also faces pressure. Novogratz summed up the current market logic as "a strong dollar means a weak Bitcoin": hawkish central bank signals and a strengthening US dollar are suppressing demand for risk assets. Technically, the $59,000 to $60,000 range has become a critical support level for Bitcoin; a break below could open downside space to $45,000. Novogratz also admitted the current situation is complex, with an equal 50/50 probability of a rebound or deep correction. ETF outflows, weak liquidity, and cautious positioning in the options market further confirm the market’s fragile sentiment. Today, Strategy’s balance sheet health, STRC’s price performance, and cash position are no longer just company-level issues—they have evolved into a confidence signal for the entire Bitcoin market.
PANews June 28 news, according to CoinDesk, Bitcoin advocate Samson Mow said on social platforms that he believes the bottom of this Bitcoin cycle has been formed, and pointed out that the traditional "four-year halving cycle" is being broken, with market timing clearly moving earlier. He noted that Bitcoin hit an all-time high 37 days before the halving in April 2024, indicating that the cycle pattern is accelerating. Even if the cycle model is acknowledged to have reference value, its effectiveness should be re-evaluated. Moreover, with spot ETFs bringing sustained institutional capital inflows, Bitcoin's market structure has changed, and the traditional approach of identifying tops and bottoms based on historical halving cycles is becoming distorted. Therefore, the current price range already possesses the characteristics of a cycle bottom.
However, market views remain markedly divided. 10x Research founder Markus Thielen believes that Bitcoin's bottom is more likely to appear in the area around $55,000, with a time window possibly between August and October; BitMEX co-founder Arthur Hayes expects Bitcoin could drop to around the $40,000 level over the coming months; CoinDesk analyst James Van Straten pointed out that from long-term indicators such as the 200-week moving average, Bitcoin may still need to fall by more than 15% further before completing its final bottom formation, and the current range of $50,000 to $54,000 could become a key battleground for bulls and bears. Overall, the market has yet to form a consensus on whether the bottom has been reached.
Bitcoin (BTC) is heading for its worst monthly loss since mid-2022, with BTC down roughly 18.5% in June as price struggles to hold the psychological $60,000 support level.
BTC/USD monthly chart. Source: TradingView
Will Bitcoin’s downside momentum extend in July, or is BTC preparing for a recovery?
Key takeaways:
Bitcoin’s liquidity map shows a major short-liquidation “magnet zone” near $67,600.BTC has historically gained 7.6% on average in July, while midterm-year seasonality points to an even stronger 10.3% average return.Bitcoin may hit $75,000 in JulyJuly may become a "bullish month for Bitcoin," according to analyst Fleh, who predicted BTC price to rally toward $75,000 next month.
The bullish thesis is based on Bitcoin’s Binance BTC/USDT liquidation heatmap, which shows a large concentration of short liquidation levels sitting above the current price.
On the monthly chart, the strongest visible liquidity cluster sits near $67,645, where the chart shows around $247.39 million in liquidation leverage and roughly $2.26 billion in cumulative short liquidation leverage.
For beginners, such clusters are often called “magnet zones.” When many leveraged positions are concentrated around the same price area, the market can move toward that zone because liquidations create forced buying or selling pressure.
In this case, significant liquidity sits above Bitcoin’s current price near $60,000.
If BTC rebounds and pushes toward $67,600, short sellers may be forced to close their positions. Since closing shorts requires buying Bitcoin back, that can add fresh upside pressure and fuel a short squeeze.
"I think $BTC bottoms here at 60k for now, targeting 75k to the upside before any chance of lower," Fleh said in a Saturday post.
BTC rises 7.6% on average in JulyBitcoin’s historical monthly returns also support Fleh’s bullish July outlook.
BTC has returned a 7.6% gain on average in July, making it one of its stronger months after a typically weaker June, which shows an average return of -1.40%, according to CoinGlass data highlighted by analyst CGT_Trader.
Bitcoin monthly returns tracking the July performance in since 2013. Source: CoinGlass/CGT_Trader
The trend has appeared even during bear market years.
For instance, Bitcoin rose 20.96% in July 2018 and 16.8% in July 2022. More recently, BTC gained 2.95% in July 2024 and 8.13% in July 2025, strengthening the case for another green month ahead.
A separate midterm-year seasonality chart also shows that- Bitcoin has averaged a 10.3% gain during the month, its strongest monthly return in such years.
Bitcoin performance by month during US mid-term election years. Source: More Crypto Online
That compares with an average 17% loss in June, pointing to the possibility of a post-sell-off mean-reversion bounce.
Based on Bitcoin’s current price near $60,000, its historical July average return of 7.6% projects a move toward roughly $64,500, while the stronger midterm-year average of 10.3% points to about $66,100.
A repeat of Bitcoin’s bear-market July rebounds from 2022 and 2018 would put BTC between $70,000 and $72,500, while a 2020-style July rally would bring Fleh’s $75,000 target within reach.
BTC's dip below the 200-week SMA may extend slideBitcoin’s ongoing drop below its 200-week simple moving average (200-day SMA, the blue line) near $62,445 raises the risk of further downside in July.
BTC/USD weekly chart. Source: TradingView
A similar loss of long-term moving-average support preceded deeper weakness during the 2022 bear market, when BTC continued lower before forming a bottom.
Bitcoin's bear flag breakdown raises the odds of a price decline toward $55,000 in July unless BTC quickly reclaims the 200-day SMA.
BTC/USD daily chart. Source: TradingView
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.
Grayscale’s Head of Research Zach Pandl discussed Strategy’s Bitcoin-heavy capital structure in the context of market confidence. The analyst view suggested that selling a portion of Bitcoin holdings could be one way to address corporate balance sheet pressure. Risk note: Do not imply Strategy has announced a sale, is forced to sell, or is in financial distress. For more details, visit the official Grayscale platform.
An external analyst view on strategy’s capital structure, not a company action Grayscale Analyst Outlines Strategy Balance Sheet Pressure Around Bitcoin Holdings is a timely crypto-market story because it gives readers a clear signal to watch without leaning on hype or unsupported price targets.
The important point is not just the headline number or technical level. It is the way that signal fits into the wider market: liquidity is thinner, Bitcoin direction is fragile, and traders are paying closer attention to flows, wallet activity, derivatives positioning, and official ecosystem updates.
What the verified setup shows Grayscale’s Head of Research Zach Pandl discussed Strategy’s Bitcoin-heavy capital structure in the context of market confidence. The analyst view suggested that selling a portion of Bitcoin holdings could be one way to address corporate balance sheet pressure.
The discovery pack did not indicate that Strategy itself has announced any Bitcoin sale plan.
That makes this a useful setup for readers who want to understand what is actually changing beneath the surface. It also helps separate measurable market data from the more speculative narratives that often appear during volatile weekends.
Why this matters for the market For Strategy Bitcoin holdings, the signal matters because it offers a specific lens for the current market rather than a vague bullish or bearish call. In a weak or uncertain tape, traders tend to focus on the data points that can be checked directly: flows, wallet routes, support zones, funding, moving averages, official technical updates, or security disclosures.
This is especially important in the current environment. Bitcoin has been trading near important support, altcoins remain sensitive to broader risk appetite, and institutional or on-chain activity can quickly become part of the market narrative.
What traders should avoid assuming Do not imply Strategy has announced a sale, is forced to sell, or is in financial distress.
That caution matters because many of these signals can be misread. ETF outflows do not automatically mean permanent institutional retreat. Wallet transfers do not automatically mean selling. Technical support does not guarantee a bounce. Developer updates do not immediately translate into price action.
What to verify next The next validation path is: Grayscale official research portal and SEC EDGAR corporate filings for Strategy/MicroStrategy. This is the key step before treating the setup as anything more than a developing market or ecosystem signal.
Coverage around Strategy’s Bitcoin holdings is sensitive and must separate analyst opinion from company statements.
This report is based on information from official source materials and publicly available market data.
This article was written by the News Desk and edited by Samuel Rae.
Strategy ended the week amid sharp criticism from the crypto industry and with Bitcoin stuck at around $60,000. Before the weekly close, Bitcoin was trading near $60,102 as the company’s co-founder Michael Saylor shared a reserves chart on his X account, commenting, “We’re going to need more charts.” Some investors interpreted Saylor’s message as a new signal to buy.
Reserves under pressure as losses mountThe company’s latest financials paint a much more cautious picture. Strategy currently holds 847,363 BTC, with an average purchase cost of $75,653 per coin. Since Bitcoin is trading near $60,000, the company’s paper losses on its Bitcoin holdings have now surpassed $13 billion.
This gloomy scenario is reflected in Strategy’s own market value. The firm’s market capitalization has fallen to roughly $29 billion, about 43% below the market value of its Bitcoin reserves. The growing gap has made it increasingly difficult for the company to sustain its prior cycle of raising capital and acquiring more Bitcoin.
For reference, mini Net Asset Value (mNAV) is the ratio between a company’s market capitalization and the net asset value of the assets it holds. For firms with substantial crypto assets on their books, this metric helps investors determine whether the stock is trading at a premium or discount relative to its reserve holdings.
Company bylaws stipulate that issuing new shares to purchase more crypto is only allowed when the market value exceeds the value of Bitcoin reserves by at least 22%. In other words, the mNAV ratio must reach 1.22. At present, this ratio has slipped to just 0.99.
Given the current numbers, issuing new shares is not seen as economically viable. Such a move would dilute the holdings of existing shareholders, and the company’s self-imposed framework may force management to halt further Bitcoin purchases for now.
Cash constraints meet Wall Street scrutinyStrategy’s free cash position has also come under pressure. Its preferred shares, labeled STRC, have fallen around 25% below face value, now trading at $74.57. The company’s remaining $1.4 billion in cash reserves would cover roughly 14 months of dividend payments based on its annual $1.2 billion in obligations.
Zach Pandl, Head of Research at Grayscale, argued that Strategy may need to sell at least $3 billion worth of Bitcoin to cover its short-term debts. Ripple CEO Brad Garlinghouse has also criticized the debt-driven structure, warning that it has damaged the market and left Bitcoin overly dependent on a single company’s balance sheet.
Grayscale is a leading asset manager specializing in digital investment products. Ripple, meanwhile, focuses on cross-border payment solutions. As Ripple CEO, Brad Garlinghouse is frequently involved in industry debates over crypto regulation and company strategies.
Key price levels in focusMichael Saylor maintains that as long as Bitcoin holds above $8,000, there is no risk of forced liquidation for the company. Still, technical indicators imply that it could take some time before Strategy’s buy-in costs are recovered. Major trading activity currently centers around resistance levels at $67,098 and $75,682.
Altogether, this outlook underscores the need for a more robust Bitcoin rally if Strategy is to return to aggressive accumulation. Unless Bitcoin approaches the $75,000 region, the company’s balance sheet stress and related debt discussions are likely to persist.
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.
TLDR:Bitcoin Weekly Death Cross Raises Fresh BTC Price ConcernsMichael Saylor Hints at More Bitcoin Buying Despite Strategy Valuation Pressure Bitcoin approaches a rare weekly death cross as traders monitor long-term market direction closely. Strategy’s mNAV has dropped below 1.0 for the first time during this market cycle. Michael Saylor hinted at more Bitcoin discussions despite growing valuation concerns. Technical signals and institutional buying remain key factors shaping Bitcoin sentiment. Bitcoin could soon print a rare weekly death cross as bearish technical signals return to the market. At the same time, Michael Saylor has hinted that Strategy may continue accumulating Bitcoin despite growing pressure on its valuation.
The two developments have reignited discussion around Bitcoin’s price outlook and institutional demand. Investors are now watching technical charts alongside corporate buying activity for the next major market signal.
Bitcoin Weekly Death Cross Raises Fresh BTC Price Concerns Crypto Rover shared that Bitcoin is approaching a weekly death cross, a technical pattern that appears when the long-term moving average falls below the shorter trend. The account noted that the previous weekly death cross preceded another 28% decline in Bitcoin’s price.
🚨 BITCOIN WEEKLY DEATH CROSS IS NOW INCOMING.
Last time this happened, BTC crashed another -28%.
If history repeats again, the real bottom may not come until late Q3 or early Q4 2026.
That would also perfectly match Bitcoin’s 4-year cycle. https://t.co/NgE8PlCamN pic.twitter.com/sbPGjGTIv4
— Crypto Rover (@cryptorover) June 28, 2026
The same post highlighted Bitcoin’s historical four-year market cycle. According to Crypto Rover, another extended correction could align with the later stages of the current cycle if previous patterns repeat.
The signal has attracted attention because weekly chart formations appear far less often than daily indicators. Traders typically monitor them for broader market direction rather than short-term volatility.
Despite the technical setup, the pattern alone does not determine future price action. Market participants continue weighing macroeconomic conditions, liquidity, and institutional demand alongside historical chart behavior.
Michael Saylor Hints at More Bitcoin Buying Despite Strategy Valuation Pressure While bearish technical signals circulated, Michael Saylor posted that more charts would be needed, a familiar response that often precedes fresh Bitcoin discussions. His comment followed renewed debate surrounding Strategy’s ability to continue funding Bitcoin purchases.
🚨 JUST IN: Michael Saylor hints at buying more $BTC.
What's interesting is the timing.
Strategy's mNAV has now fallen below 1.0 for the first time this cycle, meaning the company is trading below the market value of the Bitcoin it holds.
Management has previously indicated… https://t.co/WkFYTYOyBi
— Wise Advice (@wiseadvicesumit) June 28, 2026
Wise Advice pointed to Strategy’s market value relative to its Bitcoin holdings. The account noted that the company’s modified net asset value, or mNAV, has fallen below 1.0 for the first time during the current market cycle.
According to the same discussion, Strategy previously suggested that issuing new equity below roughly 1.22 times mNAV could reduce shareholder value. That threshold has prompted questions about whether additional equity-funded Bitcoin purchases remain practical under current market conditions.
Even so, Saylor’s brief response has kept attention on Strategy’s long-standing Bitcoin accumulation strategy.
Investors now await any official filings or announcements that could clarify whether another Bitcoin purchase is approaching while the company navigates changing market dynamics.
Bitcoin continues to hold an important place in El Salvador’s financial strategy, which continues its regular purchases despite changes in its regulatory framework. The country has just added new digital assets to its national treasury, confirming the continuity of its reserve policy. This new acquisition comes as sovereign cryptocurrency reserves remain closely monitored by market observers and institutional players around the world.
In brief El Salvador purchased eight new bitcoins, bringing its national reserves to 7,696.37 BTC. The country continues its weekly accumulation strategy despite recent changes to its legislative framework. The new rules remove the obligation to accept Bitcoin as a means of payment without affecting the national reserve policy. Regular acquisitions continue to strengthen El Salvador’s treasury, whose sovereign reserves remain closely monitored. El Salvador Continues Its Accumulation Strategy El Salvador has strengthened its national bitcoin treasury by acquiring eight additional units during the past week. This operation now brings public reserves to 7,696.37 BTC, according to the official data from the Ministry of Finance.
The government thus maintains a regular purchase pace, which has become a component of its digital asset management strategy. This progression confirms the country’s intention to pursue its accumulation plan without interruption.
Moreover, the Bitcoin Office continues to monitor the evolution of national reserves through public data. This transparency makes it possible to measure each new acquisition made by the authorities. Several observers have also relayed this recent increase in sovereign holdings. El Salvador remains among the states whose digital asset reserves receive constant attention.
Bitcoin Retains a Place in the National Strategy Despite IMF Reforms The latest purchase comes after several adjustments made to the legal framework regarding Bitcoin, as part of the agreement concluded with the International Monetary Fund (IMF). The adopted changes mainly concern its use in daily commercial activities. Private companies are no longer obliged to accept this asset as a means of payment. However, Bitcoin remains integrated into the legal framework implemented by the authorities.
At the same time, the national reserve policy has not experienced any interruption. Official data show that weekly purchases continue according to the same logic as before. This separation between payment policy and reserve strategy now appears clearer. El Salvador therefore continues to develop its holdings while adapting certain rules governing the use of the digital asset.
A National Reserve That Keeps Progressing Each new acquisition gradually increases the volume of public reserves of the country. With a total of 7,696.37 BTC, El Salvador confirms the continuity of its long-term accumulation policy.
Regular purchases remain at the core of this strategy, regardless of changes in the legislative framework. Sovereign reserves thus continue to be closely monitored by industry players.
This new progression also illustrates the stability of the acquisition mechanism adopted by the authorities. Official data allow precise tracking of the evolution of the national treasury over the weeks. The BTC thus retains a central role in this reserve strategy, which continues regularly. El Salvador therefore maintains its course, while the evolution of its holdings will continue to be observed in upcoming official updates.
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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.
In a recent tweet, Michael Saylor teased the purchase of additional Bitcoin for Strategy despite the market backlash.
Michael Saylor Hints Strategy Will Buy More Bitcoin The speculation regarding another Bitcoin acquisition is again stirring after Strategy Executive Chairman Michael Saylor posted his usual, weekly update on X on Sunday. The post came ahead of the company’s expected weekly acquisition on Monday.
“We’re gonna need more charts,” Michael Saylor wrote as he also added the firm’s famous “Orange Dots” chart. For context, this graphic shows all of Bitcoin Strategy’s purchases to date. The announcement immediately raised hopes that the company might announce another Bitcoin purchase when markets reopen on Monday.
We’re gonna need more charts. pic.twitter.com/xVASOEnSw8
— Michael Saylor (@saylor) June 28, 2026
Michael Saylor’s teaser is coming just days after Strategy announced a relatively modest $35 million Bitcoin acquisition. Meanwhile, it also boosted its holdings in U.S. dollars by about $300 million. To pay for these transactions, the firm raised over $335 million in MSTR stock sales. This move also raised further investor questions on shareholder dilution.
What’s Next For Strategy? The latest rumors also come at a time when there is greater debate about the Michael Saylor-led company’s capital structure. According to Grayscale’s CEO and Head of Research Zach Pandl, the company has two scenarios for the Variable Rate Perpetual Stretch Preferred Stock (STRC).
“What I think happens: increase in STRC dividend of 50bp, which equates to ~$100mn higher dividend obligation for next 2yrs; probably does not help market confidence,” Pandl wrote on X.
In his view, a more different approach would better reassure investors. Panel added, “What I hope happens: sale of ≥ ~$3bn $BTC to cover nearly all cash obligations for next 2yrs (ex one of the converts); probably would restore market confidence.”.
However, that isn’t everyone’s idea of a plan. But longtime Bitcoin critic Peter Schiff said selling off any of Strategy’s holdings could be detrimental.
“Those of you who think Saylor can solve the $STRC problem by selling Bitcoin… $MSTR can’t sell Bitcoin without crashing the price of Bitcoin,” Schiff has cautioned. He further added that “even if Strategy merely stops buying Bitcoin, that change alone would crush the market.”
Presently, Strategy has 847,363 BTC in its possession, which makes it the biggest publicly traded corporate Bitcoin owner in the world. Nonetheless, the company stirred controversy by selling off 32 BTC in May 2026. This move contradicted Saylor’s previous statement that Strategy would never sell its BTC.
MicroStrategy’s $64 billion Bitcoin (BTC) bet has become a stress test for everyone who funded it. BTC now trades below $60,000, and the renamed company, Strategy, sits at a discount to its own holdings.
The question dividing investors is no longer whether Strategy gets liquidated tomorrow. It is who absorbs the losses while the company keeps its coins and keeps paying to hold them.
How the Bitcoin Flywheel was BuiltBy June 22, Strategy held 847,363 BTC bought for $64.1 billion, an average of $75,651 each. That is the largest corporate Bitcoin position anywhere.
MicroStrategy Bitcoin Purchases in 2026. Source: StrategyThe model runs like a flywheel. The company sells stock and debt, buys more Bitcoin, and its shares climb when BTC rises. However, falling prices spin the machine in reverse.
BTC has fallen below $60,000 this week, its lowest level since 2024. The stock has slid with it, dropping under the value of the Bitcoin on its books.
A new accounting standard made the pain visible. Since 2025, FASB rule ASU 2023-08 forces firms to mark Bitcoin to fair value each quarter. As a result, Strategy booked a $14.46 billion unrealized loss in early 2026. That produced a $12.54 billion net loss, or $38.25 for every diluted share.
Michael Saylor's Strategy currently has a $14 billion unrealized loss on bitcoin.
Tom Lee's Bitmine currently has a $10.5 billion unrealized loss on ETH.
This is why it's foolish to follow the smart money and not take profit.
They can survive a crypto winter, most of will not!
— Layah Heilpern (@LayahHeilpern) June 25, 2026 Follow us on X to get the latest news as it happens
Who Actually Pays for MicroStrategy’s Bitcoin BetThe bill does not fall on Strategy alone. As the flywheel slows, the cost spreads to five groups, in rough order of exposure.
Common shareholders They stand first in line. When the stock trades below the value of its Bitcoin, the company still raises cash by selling new shares. Each sale buys less Bitcoin than it hands away.
“If we decide to sell $1 billion of MSTR stock and buy $1 billion of Bitcoin… when you do it at 1.0x MNAV… it is dilutive. It is a minus 48 basis point yield. It costs the shareholders $310 million,” Michael Saylor, Executive Chairman, Strategy, said during Q1 2026 earnings call.
Existing owners are left holding a smaller claim on the same coins, and that dilution is how the strategy gets funded.
Investors in other treasury companies The copycats have fared worse than the original. Their shares once traded far above the Bitcoin they held, lifted by hype.
As that premium faded, many Bitcoin treasury company stocks fell much harder than Bitcoin itself, leaving late buyers deep underwater.
“If that’s not already a bubble burst, how would that bubble burst?” Tom Lee, Chairman of BitMine, said while many treasury stocks traded below net asset value.
Passive and index fund investors This group never chose the bet. MSCI has proposed removing companies whose digital assets exceed half their total assets from its global indexes.
“Feedback from the consultation confirmed institutional investor concern that some DATCOs exhibit characteristics similar to investment funds, which are not eligible for inclusion in the MSCI Indexes,” MSCI said in its official announcement earlier this year.
Strategy clears that bar with ease. An exclusion would force index funds and pension trusts to sell automatically, whatever the price, just to keep tracking the benchmark.
Convertible bondholders and preferred shareholders These investors lent on the assumption that MicroStrategy could always refinance. If Bitcoin stays depressed into 2027, that assumption breaks.
“Proceeds from the bitcoin sales are expected to be used to fund distributions on preferred stock,” Strategy indicated in the June 1 Form 8-K.
Bondholders can demand cash, and preferred holders still expect dividends, both drawing on a reserve of just $1.4 billion.
MicroStrategy itself The company is the backstop of last resort. On its first quarter 2026 earnings call, Michael Saylor again framed Strategy as a net buyer that never sells.
“We will probably sell some Bitcoin to fund a dividend just to inoculate the market, just to send the message that we did it.”
Yet if financing freezes while debt and dividends come due, keeping that vow could become impossible.
“We will sell Bitcoin when it is advantageous to the company. We are not going to sit back and just say we will never sell the Bitcoin,” Strategy co-CEO Phong Le added.
The Real Test Arrives in 2027MicroStrategy faces no margin call today. Its main debt is unsecured, so a falling price alone cannot trigger a forced sale. The threat is a date, not a level.
Holders of a $1.01 billion convertible note can demand repayment on September 15, 2027. If the shares sit below the conversion price, that claim becomes a cash bill the company must cover.
Strategy has neared this edge before. A 2022 Silvergate loan backed by Bitcoin carried a margin call near $21,000 before the firm repaid it. Moving to unsecured notes and preferred stock removed the automatic trigger, but not the obligation.
Microstrategy took a loan to buy more #bitcoin a few months ago using 19,000 $BTC as collateral.
Margin call price is $21,000…
Time to post some more collateral I think!
— Lark Davis (@LarkDavis) June 13, 2022 Some peers have already blinked. This month one Nasdaq company sold Bitcoin to repay debt, and its shares jumped. Analysts have also questioned Strategy’s exit liquidity if it is ever forced to sell at scale.
For now, no forced sale looms. The pressure has simply moved from a price trigger to a calendar. The number that matters is no longer $60,000, but the September 2027 repayment date.
Iran’s Islamic Revolutionary Guard Corps launched missile and drone strikes targeting US military installations in Kuwait and Bahrain on June 28, marking a significant escalation in a conflict that has been simmering since early 2026. The IRGC claimed to have struck eight sites, including Ali Al-Salem Air Base in Kuwait and the US 5th Fleet base in Bahrain.
Kuwaiti and Bahraini forces intercepted most of the incoming projectiles. No US casualties were reported, and damage was described as limited.
What happened on the ground The strikes involved a combination of ballistic missiles and drones. The IRGC framed the offensive as retaliation for prior US airstrikes on Iranian targets, part of a tit-for-tat cycle that has defined the 2026 conflict.
Both Kuwait and Bahrain host critical US military infrastructure in the Gulf. Ali Al-Salem has served as a logistics hub for American operations in the region for decades. The 5th Fleet base in Bahrain is the nerve center of US naval operations overseeing the Strait of Hormuz, the narrow waterway through which roughly a fifth of the world’s oil supply passes daily.
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Iran’s messaging after the strikes carried a pointed warning: continued US military actions could jeopardize ongoing peace negotiations.
The broader conflict has been building since February, with repeated exchanges of strikes between the US, Israel, and Iran throughout the spring.
How crypto markets reacted Bitcoin dipped to around $99.5K in the immediate aftermath as traders moved to reduce risk exposure, then rebounded past $102K as markets digested the limited damage and lack of casualties.
Oil prices also climbed on the news. Rising energy costs feed into inflation expectations, which influence central bank policy, which in turn shapes the liquidity environment that risk assets like Bitcoin trade in.
Trading volumes spiked during the initial sell-off and subsequent bounce, suggesting that much of the price action was driven by short-term positioning rather than any fundamental reassessment of Bitcoin’s value proposition.
What this means for investors Bitcoin’s behavior during these events reveals something interesting about its evolving identity. It doesn’t act purely as a safe haven asset the way gold does during military escalations, but it also doesn’t collapse like a speculative tech stock. It experiences short-term drawdowns that tend to reverse within hours or days as long as the underlying conflict remains contained.
The key variable to watch is the Strait of Hormuz. If Iran were to directly threaten shipping through that chokepoint, rather than targeting military bases, the market response would likely be far more severe and sustained.
The BTC dip to $99.5K was relatively mild, but leveraged positions that assumed $100K as a floor learned an uncomfortable lesson, however briefly. The rebound past $102K bailed out some of those trades.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Debate over technical indicators and institutional demand has reignited in the Bitcoin market. With the prospect of a rare “death cross” emerging on the weekly chart, attention has also turned to valuation pressures at Michael Saylor’s Strategy—formerly MicroStrategy—a company known for its sizable Bitcoin holdings.
Death cross signal emerges on the weekly chartCrypto Rover highlighted that Bitcoin is approaching a death cross on the weekly chart. This technical formation, where the short-term moving average crosses below the long-term moving average, is generally viewed as a signal of market weakness.
Crypto Rover remarked that Bitcoin is nearing a death cross on the weekly timeframe, noting that the last time such a signal appeared, the price went on to decline by another 28%.
The analysis further referenced the historical four-year cycle in Bitcoin’s price, suggesting that if similar patterns repeat, any correction could extend further into the current cycle’s later stages.
Mini glossary: A death cross occurs in technical analysis when a shorter-term moving average drops below a longer-term one. When observed on the weekly chart, it is rarer than daily signals and often used to discuss longer-term market trends.
Because weekly chart formations are less common than those seen on daily charts, investors tend to watch these signals for insights into broader market direction rather than short-term price swings. However, it remains clear that technical indicators alone do not determine future prices; liquidity conditions, macroeconomic factors, and institutional demand also play crucial roles.
Strategy’s valuation triggers debateWhile technical signals suggest weakness, Michael Saylor has kept market expectations alive regarding fresh Bitcoin purchases. His call for further chart updates was interpreted as a possible hint at more buying. Strategy, known as MicroStrategy until recently, is a US-based software and treasury company recognized for its large-scale Bitcoin acquisitions.
Wise Advice pointed out that Strategy’s modified net asset value (mNAV) ratio fell below 1.0 in this cycle for the first time, emphasizing that the company’s stock now trades below the market value of its Bitcoin holdings.
The core of the discussion hinges on the gap between Strategy’s market capitalization and the value of its Bitcoin assets. The fall of the mNAV ratio below 1.0 indicates the company’s entire market value is now less than the sum total of its Bitcoin holdings.
Previously, company management suggested that issuing new shares below an mNAV of around 1.22 could result in losses for existing shareholders. This has sparked debate over the feasibility of financing additional Bitcoin purchases by selling equity at the current ratio.
IndicatorCurrent statusKey thresholdBitcoin weekly chartDeath cross risk28% drop after previous signalStrategy mNAVDropped below 1.0Debate over 1.22 levelSaylor’s brief message underscored ongoing interest in Strategy’s long-standing policy of accumulating Bitcoin. Market participants are now watching whether the company’s next official statement or filing will hint at another Bitcoin purchase.
Overall, the Bitcoin market is at a crossroads, with technical signals and corporate maneuvers both fueling speculation. Many investors are weighing the impact of continued institutional demand against the emergence of bearish patterns on longer-term charts.
Experts generally agree that while technical indicators like the death cross can warn of shifts in market sentiment, actual price direction is still shaped by a complex mix of outside forces. Nonetheless, attention remains fixed on movements by Strategy and the behavior of BTC in the coming weeks.
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.
Bitcoin’s selloff is rarely a single-cause event. But according to Galaxy Digital CEO Mike Novogratz, the current slump has a very specific driver—a loss of faith in the corporate treasury strategy that once defined this cycle. As detailed in a WuBlockchain report, Novogratz told market participants that “a MicroStrategy-led breakdown in confidence around that complex” is behind the recent decline, fuelling what he described as “a crisis of confidence in Bitcoin.” Alongside hawkish U.S. monetary policy and souring crypto sentiment, the Galaxy Digital chief warned that a decisive move below the $60,000–59,000 support zone could open the door to $45,000.
It’s a blunt call. MicroStrategy has effectively become a leveraged Bitcoin holding company. Chairman Michael Saylor turned the firm into the largest corporate Bitcoin treasury, holding over 200,000 BTC funded partly by debt issuance. For months, the market treated the company’s stock as a high-beta play on Bitcoin itself, often commanding a premium to its underlying holdings. When that premium starts to erode—or worse, when the market questions whether the whole structure can hold together—Bitcoin itself gets dragged down. Novogratz’s framing suggests the unraveling of that premium is now the primary source of spot market pressure.
There is a larger structural question here. When a single corporate entity’s balance sheet is so entwined with Bitcoin’s price, any tremor in its equity or debt can feed back into the crypto market. The confidence breakdown Novogratz points to isn’t necessarily about MicroStrategy’s insolvency risk. It’s about the narrative that drove a whole class of investors—those buying the stock as an easy Bitcoin proxy—to lose conviction. That loss of proxy demand saps liquidity and amplifies downside moves.
Investors are now watching whether the $60,000 level holds as anything more than a psychological line. Novogratz said the $60K–59K zone is critical, and if it fails, the next logical stop is in the mid-$40,000s. That’s a drop that would align with historical correction ranges but would also mean a deeper unwind of the MicroStrategy trade, as liquidations and margin calls in equity-linked instruments could accelerate spot selling.
The Macro Current Pushing Against Bitcoin Novogratz didn’t put all the blame on MicroStrategy. He also pointed to hawkish U.S. monetary policy and deteriorating crypto sentiment as headwinds. With the Federal Reserve holding rates high and showing little appetite for cuts, risk assets across the board are under pressure. Crypto, which has been increasingly correlated with tech stocks, is taking a hit alongside equities. The dollar’s strength and tighter financial conditions create an environment where leveraged positions become harder to maintain.
Regulatory uncertainty is adding another layer of unease. Just days before a critical Senate vote, traditional banks are pushing to reshape the largest crypto legislation in U.S. history. As reported this week, the bill that had seemed headed for broad bipartisan support now faces demands from the banking lobby that could gut its core provisions. The timing is rough. A confidence crisis fed by a corporate strategy is much harder to contain when the regulatory climate feels adversarial.
What the Market Is Actually Watching For traders, the key test is whether spot buyers step in near $60K or if the market drifts lower on thinning volume. The $45,000 level Novogratz flagged would represent a return to the range where Bitcoin consolidated in early 2024 before institutional flows from spot ETFs pushed it higher. Breaking below the current support zone would erase most of that ETF-driven momentum and challenge the idea that institutional adoption alone creates a permanent price floor.
The real uncertainty is whether MicroStrategy’s confidence crisis is a temporary dislocation or a symptom of a deeper problem. If the premium has permanently compressed, the market may need to reprice Bitcoin without the benefit of equity-linked demand. That would leave the asset more reliant on macroeconomic tailwinds and organic accumulation. A macro pivot from the Fed could shift the picture quickly, but until then, the path of least resistance looks cautious.
Market watchers are also tracking on-chain indicators and exchange reserve trends to see whether long-term holders are using this dip to accumulate or whether the selloff is triggering broader distribution. The next few weeks will show whether the MicroStrategy narrative shock marks a reset in Bitcoin’s institutional story or just another sharp correction in a cycle that has already seen plenty of them.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
It’s time, perhaps, to move on from Bitcoin, and look at some other bits of coins — virtual representations of everything from US Treasuries and corporate bonds to stocks and commodities.
While the world’s oldest cryptocurrency struggles to come up for air after a 50% slump since October, demand for digital versions of real-world assets is quietly gathering momentum. Their holders carry their investments not in a traditional brokerage account, but directly via their own crypto wallets — as secure blocks of data that can be easily traded peer-to-peer or on exchanges.
Peter Schiff has warned Strategy’s (NASDAQ:MSTR) investors that Michael Saylor has no easy way out as the stock and its preferred stocks plummet.
Peter Schiff Warns of More MSTR Stock Pain AheadIn an X post, he argued that Saylor has no viable solution as his stocks continue to slide. In particular, he highlighted STRC, the popular preferred stock with an 11% dividend yield, which has suffered a sharp decline in recent weeks.
STRC, together with other preferred stocks like STRD, STRK, and STRF, have all plunged as investors worry about the sustainability of the dividend since Strategy’s Bitcoin holdings don’t generate any cash return.
As such, the company has three potential solutions to continue paying its dividends. It can issue more debt, but this will be expensive as it has over $6.7 billion in debt. Alternatively, it can sell more shares, diluting its investors, or it can sell its Bitcoin (CRYPTO: BTC).
In his post, Schiff warned that selling Bitcoin would be dangerous for the company because it could trigger a steeper decline. Earlier this month, Bitcoin fell below $60,000 after the company sold just 32 coins. Schiff also argued that pausing its Bitcoin purchases would put further downward pressure on BTC.
In another post, Schiff argued that Strategy’s collapse would have more severe consequences for the cryptocurrency industry than FTX’s downfall in 2022. FTX customers lost more than $9 billion when the exchange collapsed, although many were eventually made whole through the bankruptcy process. In the aftermath, the cryptocurrency market shed more than $200 billion in value.
Michael Saylor Hints at Further Bitcoin PurchasesStill, despite the woes, Saylor appears unfazed with the MSTR and STRC crashes. In an X post, he hinted that Strategy continued accumulating Bitcoin last week. He attached the orange chart, noting that he will need more charts.
Strategy has spent the past six years accumulating Bitcoin and now holds 847,363 coins worth more than $50.4 billion. However, the company acquired them at a total cost of about $64 billion, leaving it with billions of dollars in unrealized losses.
Meanwhile, its stock has plunged from $540 in November 2024 to $82, wiping out more than $100 billion in market value as its market capitalization fell from $128 billion to about $28 billion.
Image: Shutterstock
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The technico-financial showdown that Strategy faces today against the macroeconomic realities of the market has just passed a critical threshold. This situation reveals the theoretical limits of an aggressive accumulation model that seemed infallible until now. While the company’s valuation decreases unprecedentedly compared to its real assets, the choices of its leaders could redefine the very structure of corporate finance linked to cryptos.
In Brief Michael Saylor announces a new Bitcoin purchase as Strategy goes through a more delicate period. The fall of the mNAV below the threshold of 1 challenges the financial model that supported the company’s accumulation strategy until now. The difficulties faced by the STRC preferred shares now complicate future capital raises. Facing rising financing costs, Strategy will have to choose between continuing its Bitcoin purchases or preserving its financial structure. Michael Saylor’s signal and the state of Strategy’s Bitcoin reserves Strategy’s chairman, Michael Saylor, once again captured the attention of the financial community by posting on the social network X an update of his company’s Bitcoin tracker, while Brad Garlinghouse has just criticized this model. This message, far from trivial, contained an explicit statement: “we will need more charts”.
In the language and background of this company, this type of enigmatic communication typically introduces an official announcement of a significant bitcoin acquisition presented to regulatory authorities.
The company’s current factual data are as follows :
The state of global reserves : the company’s balance sheet shows a colossal position of 847,363 BTC in treasury, consolidating its place as the undisputed leader among listed entities exposed to the flagship crypto ; The market context : this release occurs while the bitcoin price trades at $59,888, dangerously oscillating below the psychological barrier of $60,000 ; The last official operation : it dates back to June 22, with the purchase of an additional 520 BTC for approximately $35 million ; The cost price of the operation : this last acquisition was negotiated at an average price of $67,068 per coin, putting these recent investments under pressure. The recent drop in the bitcoin price thus puts these last deployed funds in the red, but management continues to display a desire for continuous accumulation, regardless of short-term fluctuations.
Strategy’s modified net asset value (mNAV) has fallen for the first time in this market cycle below the critical threshold of 1.0 to around 0.80. This essential financial measure indicates that the company’s stock now trades below the real value of the bitcoins it holds in reserve. Such a break invalidates the so-called “flywheel effect” mechanism previously used by the firm.
The model consisted of issuing new shares whenever the stock traded at a premium to bitcoin in order to buy more tokens and increase the BTC per share ratio for investors, a strategy that becomes mathematically destructive of value when the mNAV falls below 1.0.
Strategy’s management had previously stated that issuing common shares below the 1.22x mNAV threshold would be dilutive and harmful to existing shareholders. To circumvent this constraint and continue to finance its operations, the company resorted to alternative structures, notably STRC preferred shares.
However, this financial product also deteriorates sharply, trading at a price well below its target value of 100 dollars. The overall decrease in bitcoin asset value below the company’s cumulative purchase cost severely affects market confidence and significantly increases the cost of raising additional capital.
The flaws in the capital structure and the outlook The fall of Strategy’s derivative financial instruments exposes the company to a new structural risk. The inability to raise equity without harming existing shareholders prevents access to traditional low-cost financing that contributed to the firm’s success.
Moreover, the heavy discount suffered by STRC preferred shares shows that the institutional market now demands a significantly higher risk premium to support Michael Saylor’s treasury policy. This distrust results in a geometric increase in debt costs, severely limiting the company’s room for maneuver to meet its yield commitments and finance future bitcoin purchase campaigns.
Going forward, this situation places Strategy before a delicate choice. Advocates of an aggressive approach argue on one side that the company must take advantage of the bitcoin dip to buy tokens at a low price, betting on a rapid market rebound. On the other hand, more cautious analysts warn of the risk of massive dilution and weakening of the company’s financial structure if it persists in purchasing assets with capital that is now too costly.
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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.
Galaxy Digital CEO Mike Novogratz said that one of the main reasons for the recent decline in Bitcoin is the loss of confidence stemming from Strategy. According to Novogratz, the problem is not limited to the weakness in Bitcoin’s price; the real pressure comes from concerns spreading in the market regarding Strategy’s funding model.
Strategy, the world’s largest publicly traded institutional BTC holder, has become a closely watched indicator in the cryptocurrency market, not only through its own shares but also through its preferred securities. The company’s stock and STRC performance is monitored by traders to gauge risk appetite in the Bitcoin market.
Strategy’s “premium share issuance” model, previously used to finance Bitcoin purchases, has recently come under pressure. The fact that the company’s market capitalization at one point fell below the value of its BTC assets has raised questions about the sustainability of this model.
Novogratz stated that STRC was trading weakly, adding that under normal circumstances, the asset should remain around $100. It was noted that Strategy’s annual dividend obligation had risen to approximately $1.2 billion, and with the decrease in cash reserves, the dividend coverage period had shortened to approximately 14 months.
Macroeconomic pressures continue on the Bitcoin front. Novogratz summarized the current market dynamics with the words, “a strong dollar means a weak BTC.” Hawkish messages from central banks and the strengthening dollar are suppressing demand for risky assets.
From a technical perspective, the $59,000 to $60,000 range stands out as a critical support zone for Bitcoin. A break below this level could lead to a pullback to $45,000 for BTC.
Novogratz acknowledged that the current outlook is quite complex, stating that the probability of a recovery versus a deep correction for Bitcoin is almost equal at this stage. ETF outflows, weak liquidity, and cautious positioning in the options market also indicate that market sentiment remains fragile.
*This is not investment advice.
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The Crypto Market moved lower ahead of Monday, with Bitcoin again setting the tone for risk assets.
Total crypto market value slipped to $2.06 trillion as fear deepened among traders. Bitcoin price traded near $59,568 after ETF withdrawals and macro worries hit sentiment.
Gold and silver also drew attention as investors weighed safety demand. Traders also tracked wider volatility in stocks, bonds, and crypto-linked shares before global markets opened for Monday trading.
Here’s Why the Crypto Market, Bitcoin, Stocks, and Gold Could Face Heavy Volatility The Crypto Market is heading into Monday with a weaker tone and fewer clear support signals. Bitcoin price remains the main driver of sentiment after falling more than the wider market. That move showed traders are still using Bitcoin as a quick gauge for risk.
Markets face renewed pressure ahead of Monday as macro and geopolitical risks deepen across major asset classes. Fresh concerns over possible Fed tightening, Treasury weakness, and Japan’s bond stress are weighing on global sentiment.
🚨 WARNING: MONDAY WILL BE THE WORST DAY OF 2026!!
→ Fed just confirmed rate HIKES.
→ Iran violated the ceasefire, and the peace deal is
CANCELLED.
→ Japan is DUMPING U.S. Treasuries.
→ The AI bubble is starting to COLLAPSE.
If you hold any assets today, you MUST read this:… pic.twitter.com/TbFVBLgTQl
— 0xNobler (@CryptoNobler) June 27, 2026
Investors are also watching Iran tensions, unstable oil prices, and fading enthusiasm around AI stocks. Analysts warn tighter liquidity could intensify volatility in equities, bonds, metals, and Bitcoin if risk appetite weakens further next week.
The CMC Crypto Fear and Greed Index stood at 16, which points to extreme fear. Such readings appear when traders cut exposure and wait for stronger signals. Thin liquidity can make price moves sharper during uncertain sessions.
Source: CMC The pressure is not limited to crypto. Investors are watching bond yields, oil prices, and geopolitical headlines. If energy prices rise again, inflation concerns could return quickly. That would keep rate expectations firm and pressure speculative assets.
Bitcoin ETF Outflows Deepen Fear as Traders Watch Key Support Levels Bitcoin’s latest weakness also reflects heavy selling through U.S. spot Bitcoin ETFs. The funds saw $1.8 billion in net outflows last week. That was described as the second-largest weekly withdrawal on record.
ETF flows matter because they show how larger investors are positioned. When these products lose money, spot demand can weaken. That often affects Bitcoin first, then spreads into altcoins and crypto stocks.
Source: Sosovalue data The $59,000 area is the level traders are watching. A hold above that zone could help Bitcoin steady. A break below it may bring the recent $58,000 low back into focus.
Daily ETF flow data may decide the next short-term move. Fresh inflows could reduce fear and support a rebound. More outflows would likely keep pressure on the Crypto Market.
Stocks and Gold Brace for Monday Swings Amid Macro Market Stress Stocks, bonds, metals, and crypto may all react to the same macro signals on Monday. That makes the session important for traders across several markets. Bond stress and weaker liquidity have made investors more cautious.
Gold traded near $4,071.95 after gaining 0.98%. Spot gold also recently held close to $4,100 per ounce. That shows investors are still watching safe-haven demand.
Silver traded near $58.92 after rising 1.03%. Metals could stay active if inflation and energy fears return. However, gold and silver can also swing lower during forced selling.
Crypto-linked stocks showed mixed action before Monday. BMNR rose 1.80%, while MSTR fell 3.89%. COIN gained 4.76%, and CRCL climbed 6.99%.
Those moves suggest volatility is already spreading beyond Bitcoin. Monday’s direction may depend on ETF flows, bond yields, oil prices, and risk appetite.
Crypto Market Crashing Amid Rotation to StocksA key driver behind the accelerating weakness in the crypto market is that investors in major economies such as the United States, South Korea, and Japan are rotating into equities, as stock markets surge amid the ongoing AI supercycle.
Digital Asset Treasury Companies WoesInvestors now fear that these companies will be forced to start selling their crypto assets to fund their dividends this year. If this happens, there is a risk that cryptocurrencies will continue falling as the biggest buyers become sellers.
Crypto Confidence Waning Amid Hackings and FraudThe crypto market crash is also happening because of the lack of confidence in the industry. These fears escalated on October 10 last year when the crypto industry suffered over $18 billion in liquidation losses. 1.6 million traders were liquidated.
At the same time, fraud and pump-and-dump schemes have been on an upward trajectory. A good example of this is President Donald Trump’s decision to launch the a meme coin in January last year. After initially pumping, the token crashed, erasing billions of dollars in value.
Other recent examples of pumps and dumps are coins like Humanity Protocol, Audiera, and SKYIE.
Data shows that crypto hackings have soared this year. According to DeFi Llama, hackings have jumped to over $1.4 billion in the last 12 months. This includes popular networks like Polymarket, Drift Trade, Balancer, and Upbit.
Image: Shutterstock
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This week in the cryptocurrency world was a rollercoaster ride, with Bitcoin showing signs of capitulation and gold’s selloff being framed as a buying opportunity. Meanwhile, 21Shares predicts a return to $100,000 for Bitcoin, Ethereum faces a potential funding gap and former New York Governor Andrew Cuomo urges Congress to pass a crypto bill.
Let’s dive into the details.
‘Bitcoin Is Dead’ Predictions GrowBitcoin’s latest dip below $60,000 has reignited the “Bitcoin is dead” narrative. However, Ryan Rasmussen from Bitwise suggests that long-term investors are using this downturn to accumulate more. He pointed out that such moments have historically coincided with major cycle lows
Read the full article here.
Peter Schiff Says Gold’s Selloff Is A Buying OpportunityEconomist Peter Schiff views gold’s recent selloff as a buying opportunity, while he describes Bitcoin’s decline as a deflating bubble. Schiff noted that Bitcoin failed to rise with gold’s earlier gains and is now declining in tandem, contrary to expectations.
Read the full article here.
BTC Will Return To $100,000 Even If Bitcoin ETFs Are Growing Slower21Shares’ mid-year check-in report suggests that the cryptocurrency market has transitioned from a speculative phase to an institutionally driven asset class. The report also highlights stablecoins and tokenization as the sector’s strongest long-term themes.
Read the full article here.
Ethereum Could Face A Critical Funding GapFormer Ethereum Foundation member Trent Van Epps warns that Ethereum could face a critical funding gap within the next 3 to 9 months. The Foundation’s treasury, which has funded critical shared resources, is shrinking by design.
Read the full article here.
Andrew Cuomo Urges Congress To Pass Crypto BillFormer New York Governor Andrew Cuomo has called on Congress to pass the Clarity Act, emphasizing blockchain’s potential to bring financial inclusion to the unbanked and underserved. Cuomo believes that the adoption of blockchain technology could significantly reduce consumer costs.
Read the full article here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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The crypto market slipped 0.83% to $2.07 trillion as selling pressure returned across major assets. Bitcoin hovered below $60,000, while Ethereum traded near $1,557 after large holders increased selling.
XRP price held around $1.05, supported by stronger ETF demand. Fresh flow data showed XRP ETF products gaining inflows, while Bitcoin and Ethereum ETFs continued to lose capital during a weak market session on June 26.
XRP ETF Inflows Outpace Bitcoin and Ethereum Funds The positive bright spot for U.S. spot crypto funds was XRP ETF products. XRP tokens attracted more interest from investors, with bigger holdings seeing redemptions.
The total daily net inflows for U.S.-listed XRP spot ETFs reached $15.63 million on June 26. This added to the already existing net inflows of $1.47 billion into all XRP ETFs.
XRP’s monthly performance was also positive. Over 30 days, XRP funds added $60.61 million in net inflows. This was in contrast to Bitcoin and Ethereum ETFs, which both saw monthly outflows.
Source: Sosovalue data Bitwise’s XRP fund led the daily inflow table. The fund attracted $11.66 million and held $293.49 million in net assets. Next came Franklin’s XRPZ, which had $3.97 million in inflows and $235.20 million in assets.
Canary’s XRPC was also a significant investor with $234.97 million in assets. Grayscale’s GXRP was valued at $57.60, whereas 21Shares’ TOXR was still in the red on a cumulative basis.
But XRP remains far behind the bigger ETF markets in terms of trading volume. Over all, the value traded in XRP spot ETFs totaled $22.04 million. Net assets stood at $934.26 million, equal to 1.44% of XRP’s market capitalization.
Bitcoin and Ethereum ETFs Extend Seven-Day Outflow Streak Bitcoin & Ethereum ETFs continued to struggle, with investors withdrawing from leading funds. According to SoSoValue, both categories posted a seventh straight day of net outflows on June 26.
Spot Bitcoin ETFs experienced daily net outflows of $444.51 million from the U.S. market. Investors pulled $4.41 billion out of Bitcoin funds during the 31-day period. Net inflows were still high over the 12-month period, however, at $51.61 billion.
U.S. Spot Bitcoin and Ethereum ETFs See Seventh Straight Day of Outflows
According to SoSoValue, on June 26 (ET), U.S. spot Bitcoin and Ethereum ETFs both recorded their seventh consecutive day of net outflows. Spot Bitcoin ETFs saw a total net outflow of $445 million, while… pic.twitter.com/vm3nFGOnUQ
— Wu Blockchain (@WuBlockchain) June 27, 2026
For the whole day, all of the money flowed out of BlackRock’s IBIT. However, IBIT was the top Bitcoin ETF by assets. The fund has $44.42 billion in net assets and $60.77 billion in cumulative inflows.
Fidelity’s FBTC trailed with $10.44 billion in assets. The Grayscale GBTC was down overall with $27.14 billion of cumulative outflows. But there was no net redemptions in the day for GBTC.
Ethereum ETFs experienced less demand, but losses were not as severe as Bitcoin’s. Daily outflows of spot Ethereum ETFs hit $12.85 million in the U.S. Ethereum has lost more than $610.61 million over the course of 30 days.
BlackRock’s ETHA continued to be the biggest Ethereum fund. It had $4.27 billion in net assets and $11.08 billion in cumulative inflows. Grayscale’s ETHE continued to stay in the red by recording an outflow of $5.33 billion in cumulative outflows.
Bitcoin Still Leads Assets as XRP Gains Fresh Investor Demand XRP is currently the leader in the short-term flow race, whereas Bitcoin has the crown in size. The net assets of U.S. Bitcoin ETFs totaled $72.82 billion. They traded a total of $2.54 billion, which is significantly higher than XRP’s day-to-day activity.
The net assets of Ethereum ETFs totaled $8.38 billion. This was 4.42% of Ethereum’s total market capitalization. Bitcoin ETF assets equaled 6.08% of Bitcoin’s market value.
The new figures reveal a stark difference in investor action. Bitcoin and Ethereum funds are seeing withdrawals, and XRP ETF products are gaining new demand. Nevertheless, Bitcoin is the biggest and most flow market for ETFs.
Near term, traders are watching Bitcoin’s $58,000 support level. Failure to move below this zone will give room for the price to move to $54,000. Any recovery above $61,800 could help ease overall crypto ETF sentiment.
Samson Mow, the CEO of Jan3, claims that Bitcoin‘s recent local downtrend has ended and that the asset has reached a cycle bottom. According to Mow, the key factor supporting the current market is the cluster of strong buy limit orders around $58,000. Jan3 is widely recognized for its initiatives aimed at Bitcoin infrastructure and adoption across the globe.
Why is the $58,000 level significant?Mow bases his optimistic outlook on the fact that Bitcoin set a new all-time high 37 days before the recent halving. In his view, this occurrence disrupted classic market patterns observed in previous cycles and signaled a permanent acceleration in Bitcoin’s cycle dynamics.
He argues that, in this context, analysis projecting a deeper capitulation within the next four months have lost credibility. Mow believes that relying on past cycle behaviors fails to account for the realities of the current market structure.
Samson Mow stated that because Bitcoin broke its all-time high before the halving, old cycle models are now obsolete, and scenarios predicting a sharp selloff in the coming months no longer carry the same weight.
A sharp critique of technical analysisMow also takes aim at proponents of traditional technical analysis. He argues that the claim—that charts can perfectly predict the future—contradicts real investor behavior. If such forecasting were possible, analysts could simply sell at the top and wait for the bottom, eliminating the need for constant new chart patterns.
In his view, classic chart reading has become detached from the market’s real dynamics in current conditions. Mow emphasizes that liquidity distribution and the clustering of buy and sell orders play a much larger role in price formation than technical formations or chart patterns.
How did the buy wall offset selling pressure?Mow argues that the primary reason for Bitcoin’s recent stability is the large pool of buy-side liquidity around $58,000. He explains that the concentrated limit buy orders at this level absorbed selling pressure, thus preventing a steeper decline.
He maintains that the successful defense of this price zone has clearly established a local bottom for Bitcoin. For those investors waiting to enter at lower levels, Mow suggests that their window of opportunity has now largely closed.
Strategy and the Tether debate addressedMow also commented on the latest criticisms aimed at major institutional players. He noted that recent skepticism directed at Strategy is a new version of the fear, uncertainty, and doubt (FUD) campaigns that once targeted Tether.
Backing his view, Mow pointed to Tether’s first quarter 2026 results, which showed a net profit of $1.04 billion and total assets of $191.77 billion. In Mow’s assessment, these figures undermine claims that coordinated market pressures are weakening the company or the broader ecosystem.
Mow asserted that the criticisms leveled at Strategy resemble a new wave of Tether fear mongering, but that Tether’s reported $1.04 billion net profit and $191.77 billion in assets for Q1 2026 weaken these narratives.
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 crypto ranking experienced a rare shift on June 26. Tether’s USDT briefly surpassed Ether in market capitalization, becoming the second cryptocurrency in the market behind Bitcoin. This reversal did not come from an increase in the USDT price, but from Ethereum’s sharp drop to its lowest level in 2026.
In brief USDT briefly surpassed Ether with over 186 billion dollars in capitalization. Ethereum fell near 1,510 dollars, its lowest level in 2026. The growth of stablecoins reveals a crypto market that has become more defensive. USDT reached a capitalization close to 186.06 billion dollars. At the same time, Ether’s capitalization fell to around 185.66 billion. Tether’s stablecoin thus temporarily occupied the second place in the crypto ranking. A scenario that some observers had already considered when Ethereum’s position began to seem less solid.
The crossover remained narrow. By June 27, Ether had recovered a capitalization close to 190 billion dollars thanks to a rebound in its price. USDT remained around 186 billion, with no major variation in its unit value.
This difference highlights a key particularity. Ethereum’s capitalization depends directly on the price of ETH. USDT’s capitalization evolves mainly according to the number of tokens in circulation, as each unit aims to maintain a value close to one dollar.
The surpassing therefore does not mean that investors have suddenly valued Tether as a blockchain technology superior to Ethereum. It rather shows that digital dollars are gaining ground while volatile crypto assets retreat.
Ethereum falls to its lowest level in 2026 Ether fell near 1,510 dollars on Coinbase, its lowest level of the year. The drop reached about 5.2% over twenty-four hours and nearly 9% over a week. It was enough to push its capitalization below that of USDT.
The correction becomes even more striking when compared to the August 2025 peak. At that time, ETH traded around 4,946 dollars. The decline now exceeds 68%, bringing the price back to levels seen in 2023 and April 2025.
Ethereum nevertheless retains significant activity in decentralized finance, stablecoins, and tokenization. But the crypto market does not automatically reward the use of a network. Demand for its token also depends on the economic context, speculation, and investor confidence.
This weakness does not only affect Ether. It weighs on all altcoins, often more sensitive to capital outflows than Bitcoin. When risk increases, investors often favor liquidity or assets considered more defensive.
Stablecoins rise in the crypto rankings USDT is not the only stablecoin to have benefited from the decline. Circle’s USDC also surpassed XRP in capitalization. USDC was nearly 74 billion dollars, against about 65 billion for XRP after its fall to one dollar.
Again, stablecoins did not experience a spectacular price increase. Their value remained close to one dollar. It is the competing crypto assets that declined, allowing stable digital currencies to gain ground.
This growth also reflects a real increase in their supply. The stablecoin market reached new records in 2026, even as several major cryptocurrencies lost value. USDT retains first place, while USDC gains ground in payments and on-chain transactions.
Stablecoins now represent a significant share of the total crypto capitalization. They serve as a temporary reserve for traders, a means of settlement in DeFi, and a tool for international transfers. Their demand no longer depends solely on periods of speculative euphoria.
For Ethereum, the challenge now is to turn its technical activity into a sustainable demand for ETH. For Tether, the issue will be to maintain confidence around its reserves and its dollar peg. In both cases, this episode confirms that stablecoins are no longer just secondary tools. They now occupy the center of the crypto market.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
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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.
Chainlink‘s native token LINK is currently testing a pivotal support zone seen as critical for short-term price direction, as market participants closely monitor whether this level will be maintained. At the time of writing, LINK was trading at $7.29, with a 24-hour trading volume of $171.54 million and a market capitalization of $5.3 billion. Although LINK slipped 1.72% in the past 24 hours, price action and accumulation data continue to keep the possibility of a rebound in focus.
Support level seen as key for near-term directionCrypto market analyst Alpha Crypto Signal noted that LINK has retraced its recent gains following a reverse V-shaped move on the daily chart, erasing much of the advance made during its previous rally and reinforcing a cautious sentiment in the market.
LINK is currently testing a critical horizontal neckline support—a region traders have been closely watching—made even more important by mounting sell pressure. If this support holds, a relief rally toward resistance at $8.64 could play out, according to market observers.
Alpha Crypto Signal explained that LINK is now challenging a crucial neckline support on its daily chart. Holding this level could open the way to a rebound toward $8.64, while a break below would likely strengthen the downward trend.
Conversely, if LINK closes a daily session below this support, the technical outlook could shift in favor of sellers. In that scenario, market structure would likely deteriorate further, raising the prospect of deeper losses.
Chainlink boosts reserves with fresh LINK purchaseDespite heightened price pressure, Chainlink added another 593,088 LINK to its reserves in June, with the acquisition valued at over $4.6 million. This recent addition brings the Chainlink Reserve’s balance to 4,504,167 LINK in total.
Known for its decentralized oracle network that brings off-chain data to smart contracts, Chainlink’s move to increase reserves is being closely monitored as part of efforts to bolster ecosystem development and ensure long-term financial resilience.
Mini glossary: An oracle is infrastructure that allows blockchains to securely access data from external sources. Chainlink is among the most widely used networks in this domain, playing a pivotal role in decentralized finance, tokenized real-world assets, and cross-chain applications.
The growing reserve size is fueling expectations that Chainlink is positioning for expansion in decentralized finance, tokenized real-world assets, and cross-chain infrastructure. Strengthening the treasury structure is viewed as a sign of confidence in the company’s long-term strategy.
Market continues to exercise cautionNonetheless, despite reserve accumulation and the potential for positive technical developments, downward pressure on the LINK price remains. Caution across the broader cryptocurrency market and Bitcoin‘s sideways movement are among the key factors limiting upside momentum for LINK.
As a result, short-term market direction hinges on whether this technical support zone holds. Investors are closely watching both the $8.64 resistance and the risk of a daily close beneath support, as these will help gauge the token’s recovery prospects and overall market sentiment.
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.
