Fernandes' consistent top performance highlights his pivotal role in Portugal's strategy, potentially influencing their success in knockout stages.

The post Bruno Fernandes tops midfielder ratings at 2026 World Cup, according to WhoScored appeared first on Crypto Briefing.

The shutdowns highlight the volatility and unpredictability of the crypto market, emphasizing the need for sustainable business models.

The post Over 60 crypto projects shut down in 2026, led by a16z-backed Yupp, Syndicate, and Entropy appeared first on Crypto Briefing.

Volkswagen's restructuring could reshape the global auto industry, highlighting challenges in adapting to EV demand and competitive pressures.

The post Volkswagen weighs up to 100,000 job cuts and four plant closures in massive restructuring push appeared first on Crypto Briefing.

Forest's pursuit of Kovacic highlights the club's strategic ambition to maintain competitive stature amid high-profile player exits.

The post Nottingham Forest targets Mateo Kovacic to replace Elliot Anderson appeared first on Crypto Briefing.

Apple's shift to touch-screen MacBooks could redefine user interaction paradigms, challenging competitors and influencing future tech trends.

The post Apple’s first touch-screen MacBook to feature M5 Pro and Max chips appeared first on Crypto Briefing.

Bitcoin Magazine

Michael Saylor Responds to Scrutiny as Strategy Shares and STRC Hit 52-Week Lows

Michael Saylor responded to the deepening selloff in Strategy’s stock and preferred shares Friday with a statement on X.

“Volatility tests every capital structure,” Saylor wrote. “Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation. We appreciate our investors and will continue to execute with transparency and resolve. $MSTR”.

The tweet landed as MSTR shares and STRC, Strategy’s variable-rate perpetual preferred, both hit 52-week lows. MSTR has shed more than 80% from its all-time peak. STRC, which carries a par value of $100, traded near $74 — a 26% discount. When preferred shares trade below par, the mechanism that funds bitcoin purchases through preferred issuance breaks down: the company cannot raise capital on favorable terms on instruments trading at a discount.

Bitcoin broke to $58,000 Wednesday for the first time since October 2024, pushing Strategy’s paper losses above $14 billion. The company holds 847,363 bitcoin at an average purchase price of $75,680 per coin — a gap of more than $17,000 per coin at current prices.

MSTR shares, which had shed around 25% over five trading days going into Friday, extended that decline somewhat in pre-market trading as bitcoin’s slide appeared to stagnate. The stock trades at an mNAV below 1.0, meaning the market values Strategy’s shares at a discount to the bitcoin on its balance sheet.

That matters because the company’s model depends on a premium: Strategy issues stock or preferred instruments above NAV, deploys proceeds into bitcoin, and lifts NAV per share in the process. With the premium gone, both capital taps are constrained at the same time.

Strategy’s cash strain deepens further

The pressure on the capital structure extends past bitcoin’s price. Annual dividend obligations on Strategy’s preferred instruments — STRC, STRK, STRF, STRD, and STRE — have risen from $300 million at the start of 2026 to $1.2 billion, a fourfold increase in six months. Cash reserves have fallen 38% this year. Dividend coverage, once above seven years, has compressed to about 14 months.

A Bloomberg report Thursday described investor scrutiny of Saylor’s funding model as the most intense the company has faced. CryptoQuant issued a note this week calling on Strategy to halt bitcoin purchases and rebuild cash to $2.8 billion before resuming accumulation.

Strategy made its first bitcoin sale in four years in early June, offloading 32 BTC at an average of $77,135 per coin. Saylor framed the move as proof the company could cover dividend obligations through asset liquidation. The market’s reaction suggests that framing did not hold.

Last week, Strategy bought 520 bitcoin — a fraction of its prior pace — and put $300 million of a $335.5 million equity raise into cash rather than bitcoin. Saylor has not elaborated on the tweet beyond the statement posted to X.

This post Michael Saylor Responds to Scrutiny as Strategy Shares and STRC Hit 52-Week Lows first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

‘I See Volatility as Opportunity’: Bitcoin Tests Critical Support as Key Level Hangs in the Balance

Bitcoin has shed more than 50% of its value since hitting an all-time high near $126,000, and the market is now locked in a tense standoff at a support level that technical analysts say could determine the digital asset’s next major move.

The cryptocurrency has been testing the $58,000–$60,000 range for the third time in recent months, a zone that chart watchers consider critical. Below that threshold, the next meaningful support sits in the low $40,000s, a drop that would push Bitcoin into drawdown territory comparable to its most brutal prior cycles.

The sell-off has been swift and precise. Bitcoin’s failed attempt to break higher ran straight into its 200-day moving average, a level that served as near-perfect resistance and triggered a roughly 30% decline from that ceiling. The pattern has left the asset in a clear downtrend, though some technical indicators are beginning to flash warning signs for bears.

“We’re looking for stabilization,” said Katie Stockton, founder and managing partner of Fairlead Strategies on CNBC’s Squawk Box. “Ideally it does happen in this range because it is a key Fibonacci retracement level, below which a full retracement often happens.”

Stockton noted that Bitcoin has been in a long-term oversold condition for a duration that, based on historical patterns, tends to precede a shift in momentum. That does not mean a bottom is confirmed, she said she would want to see two to three weeks of price stabilization before feeling conviction that support is holding.

The $60,000 level carries weight beyond Fibonacci math. It represents a psychological marker and has been a contested battleground across multiple test cycles. A clean break below it would erase a layer of confidence among retail and institutional holders alike.

80% drawdowns in bitcoin’s price

Some Bitcoin bulls have argued this cycle is structurally different from previous crashes. The presence of spot Bitcoin ETFs, growing institutional adoption, and broader mainstream acceptance, they say, may cap the depth of any drawdown compared to the 80%-plus collapses seen in earlier bear markets. Stockton is not convinced the argument holds.

“I think we can still see those 75 to 80% drawdowns,” she said, “but as a technician, I almost see the volatility as opportunity.”

That framing cuts to a tension at the heart of Bitcoin trading: the gap between what investors say they want and what they do when prices fall. At $125,000, many buyers felt priced out. At $60,000, the same buyers hesitate to pull the trigger. 

Market psychology, Stockton noted, runs counter to rational accumulation.

On the question of four-year halving cycles — a framework many Bitcoin traders treat as gospel — Stockton said the sample size is too small to place confidence in the pattern. She described herself as a Bitcoin bull from a “very, very long-term perspective,” while maintaining that short-term risk management through trend-following tools remains the more reliable approach.

For now, Bitcoin sits at a crossroads. The coming weeks will test whether institutional infrastructure and long-term demand are enough to hold a line that, if broken, leaves a long way down to the next floor.

This post ‘I See Volatility as Opportunity’: Bitcoin Tests Critical Support as Key Level Hangs in the Balance first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Strategy Stock (MSTR) Nearly Craters Another 10% as Securities Lawsuit Lands

Strategy Inc. (MSTR) fell more than 9% at times on Thursday to its lowest level since March 2024, extending a five-day collapse of nearly 30% as Bitcoin broke below $60,000 and a securities investigation targeting the company became public.

Shares of the Michael Saylor-led Bitcoin treasury company hit $85 by midday Thursday, down from above $117 at the start of the week. The stock has now shed roughly 36% over the past month — nearly double the 18.5% decline in Bitcoin over the same period.

On top of this, Rosen Law Firm posted a press release saying it is investigating potential securities fraud claims against Strategy, alleging the company “may have issued materially misleading business information to the investing public.” The probe covers all five of Strategy’s publicly traded securities: MSTR, STRF, STRC, STRK, and STRD. 

The legal pressure compounds a financial squeeze that analysts say stems from Strategy’s own capital structure. 

The company holds 847,363 Bitcoin — the largest corporate stockpile in the world — purchased at an average price that now leaves the entire 2024, 2025, and 2026 acquisition tranche underwater. Unrealized losses on the Bitcoin portfolio stand at approximately $10.6 billion.

Strategy’s preferred stock breaks down

The deeper concern for investors is Strategy’s STRC preferred stock, which has crashed to an all-time low and now trades around $76 — roughly 24% below its $100 par value. The structure matters because Strategy has relied on selling preferred stock to fund ongoing Bitcoin purchases. 

When preferred shares trade below par, that capital-raise mechanism stalls.

As Strategy issued more STRC over the past six months, annual dividend obligations ballooned from $300 million at the start of 2026 to $1.2 billion — a fourfold increase. Cash reserves, meanwhile, fell 38% over the same period. 

CryptoQuant, the on-chain analytics firm, published a note June 23 urging Strategy to stop buying Bitcoin and rebuild its cash position to roughly $2.8 billion before resuming accumulation. The firm said dividend coverage has collapsed from more than seven years to approximately 14 months.

Strategy appears to have gotten the message before the report landed. In the week of June 22, the company bought just 520 Bitcoin for roughly $35 million — a fraction of its prior pace — and routed $300 million of a $335.5 million common stock raise into its cash reserve, lifting it to $1.4 billion.

Saylor has not commented publicly on the investigation or CryptoQuant’s warning.

This post Strategy Stock (MSTR) Nearly Craters Another 10% as Securities Lawsuit Lands first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Trezor Academy Releases Documentary on Africa’s Bitcoin Economy, Opens Education Donations

While Western financial media has spent much of 2026 tracking Bitcoin’s crash from its October 2025 all-time high near $126,000, Trezor Academy has released a documentary that documents a different story. 

Seeding Bitcoin: Trezor Academy and Africa’s Bitcoin Revolution follows educators, merchants, and community members across Sub-Saharan Africa who are using Bitcoin not as a speculative asset but as a functional monetary tool.

The film captures Bitcoin education centers in South Africa where students as young as teenagers complete a Bitcoin diploma course and receive weekly rewards in bitcoin, which some use to buy groceries for their families. 

It profiles a shopkeeper who refused Bitcoin due to volatility concerns until a local educator introduced him to stablecoin settlement, after which he became an adopter. 

It documents a woman who traveled 14 hours to attend a grassroots Bitcoin conference and a former drug addict whose life has shifted since engaging with the local Bitcoin circular economy.

The through-line across all of them is exclusion from the existing financial system. Speakers in the film describe populations — refugees, orphans, people without formal addresses or government-issued ID — who cannot access bank accounts, credit, or formal payment infrastructure. 

Bitcoin, as one participant puts it, “doesn’t recognize if you’re poor or rich, what color your skin is, whether you have some government ID or not.”

Chainalysis recorded more than $205 billion in on-chain value received across Sub-Saharan Africa in the year to mid-2025, up around 52% year-on-year — the third-fastest regional growth rate in the world. 

A larger share of those transfers fell under $10,000 than in any other region, a pattern consistent with everyday use by individuals rather than institutional flows. 

Remittance costs tell part of the story: sending $200 to Sub-Saharan Africa through traditional channels carries fees close to 9 percent, the highest of any region according to the World Bank. 

On Bitcoin’s Lightning Network, the equivalent transfer can cost a few cents.

Currency instability adds another dimension. When Nigeria’s naira was devalued in March 2025, on-chain volume across the region spiked as people moved savings out of local currency. For communities that have lived through rampant inflation across multiple generations, a fixed-supply asset outside government control carries practical rather than ideological appeal.

Trezor Academy: Global bitcoin education

Trezor Academy, which has run more than 300 meetups, graduated over 2,000 students, and now operates in more than 30 countries, built the documentary around local educators teaching peers in their own languages. 

“This program will not teach everybody in Africa about Bitcoin,” says one educator in the film. “What we’re doing here is planting seeds through local educators from which Bitcoin circular economies later grow.”

Alongside the release, Trezor has added a donation option to its online shop. Customers can contribute at checkout or donate without a purchase, with all proceeds directed toward workshops, meetups, and project sponsorships in the Global South.

This post Trezor Academy Releases Documentary on Africa’s Bitcoin Economy, Opens Education Donations first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Matt Corallo Urges Bitcoin Projects to Exit GitHub After Rust Lightning Ban

GitHub has been the home to Bitcoin Core and many other software projects in the Bitcoin industry for over a decade, but it was not the first collaborative version control platform to host the digital currency’s code, and it may not be the last.

Recent performance issues in GitHub have triggered a new wave of criticisms of the platform, reviving old concerns and dissatisfactions with its design and reliability. Matt Corallo, one of the longest-acting Bitcoin core contributors, took to X recently to announce the decision to migrate off the platform, not Bitcoin core’s code base yet, but the Rust Lightning dev kit, a code base he is closely involved with. 

In an X quote retweet thread that goes back through multiple viral posts complaining about the platform, Corallo said, “our org currently has no CI (quality testing processes) because GitHub wrongly flagged a contributor, not an admin or maintainer, just someone new who opened a few pull requests. We’ve escalated it through corporate account managers and still basically nothing.” A week or so later, he added: “GitHub has decided our open-source project has been permanently banned with no explanation and no option to appeal, pointing to a ToS that clearly does not cover anything we’ve ever done.” – “I guess it’s time for Bitcoin projects to leave GitHub.”

The banned contributor appears to be Luis Schwab, who replied “I’ve had my account banned twice within a week “by mistake”. Relying on GitHub’s goodwill is not a good long term strategy.” Multiple other Bitcoin and crypto engineers replied with similar experiences, saying they too had migrated off the platform or been banned without recourse, like Roman Storm, who replied, “In 2022, GitHub locked my account over Tornado Cash sanctions. I’m a US citizen. They told me to get an OFAC license to access my own account. The sanctions were later ruled unlawful and overturned. The account is still locked. I’ve filed ticket after ticket – now they don’t even respond. Abolish GitHub.”

Corallo blames the AI wave on the recent mass banning of accounts and increasingly aggressive measures taken by the massive platform. The popularity of vibe coding has brought a new wave of attention, amateur projects and automated bot-like behavior to the already overburdened platform. Today, GitHub claims to host over 420 million repositories and over 4 million organizations worldwide. GitHub was acquired by Microsoft in 2018, which, to some, also explains its steady downfall. 

Even Andrew Poelstra, another senior Bitcoin Core and Rust Lightning contributor, with over a decade of experience in the industry, wrote a devastating take-down of GitHub, defending the decision to migrate. “This site has an overwhelming amount of LLM slop, and they have no intention of stopping it, though they did write this insane blog post taking credit for FOSS as a way of acknowledging the problem,” he began, continuing to explain that the merging of code into the master repositories had now been  “broken for several days.” This caused cascading issues that confused the “merge script,” a security program that makes sure updates to a code base are done properly. 

The bug meant that tracking and merging pull requests — contributions from other developers — didn’t work as expected. “Tracking PRs is the one thing GitHub is supposed to do, and it’s broken. It’s no longer more convenient to stay here than to leave, which was the only reason we’ve stayed so long,” Poelstra continued. “The usual problems where diffs and comments are hidden, the site being slow and unreliable, the permissions model being insane and broken, the lock-in, the crappy and slow API, etc. [All of] which we could live with if the basic functionality worked, but it doesn’t.”

As a result, the next destination for Rust Lightning and perhaps other Bitcoin projects in the industry may be Forgejo, a lightweight GitHub alternative optimized towards self-hosting and high agency projects. Corallo confirmed to Bitcoin Magazine that “rust-bitcoin already started migrating to git.rust-bitcoin.org” and Rust Lightning would follow. 

The repositories will likely continue to host a copy on GitHub, though no public statements have been made about any kind of long-term mirroring strategy of the code base, meaning it will eventually just live on their own site. 

This post Matt Corallo Urges Bitcoin Projects to Exit GitHub After Rust Lightning Ban first appeared on Bitcoin Magazine and is written by Juan Galt.

Celsius froze withdrawals in June 2022 before filing for Chapter 11 in July 2022, and Genesis froze redemptions after FTX's collapse and filed for bankruptcy in January 2023, owing approximately $3.4 billion to its 50 largest creditors.

BlockFi, Celsius, Genesis, and Voyager together accounted for 40% of the crypto lending market and 82% of CeFi lending at their peaks, per Galaxy data. The 2022 unwind exposed two failures simultaneously: bad loans and the complete opacity of where risk sat inside those balance sheets.

The answer crypto landed on was to put lending on-chain, which helped address some of the opacity problem.

Building the credit infrastructure that institutional lenders require, such as defined seniority, first-loss retention, enforceable custody arrangements, independent administration, borrower servicing, and legal-grade bankruptcy isolation, demanded a different approach entirely.

Maple and Kraken's warehouse facility is a test of whether DeFi can deliver that infrastructure at the collateral layer, using liquid BTC and ETH as the asset base.

What the structure does

Kraken funds its OTC lending book through the USDC facility, with Maple lenders providing senior capital and Kraken affiliates originating, selling, and servicing the loans while retaining junior exposure, meaning Kraken absorbs losses before senior lenders take any hit.

Kraken Financial, a Wyoming-chartered SPDI and regulated qualified custodian, holds the BTC and ETH collateral, and Zaria administers the SPV independently.

Kraken structured the facility within a bankruptcy-remote SPV to isolate it from Kraken's entity risk and says that collateral balances and loan performance are verifiable on-chain in real time.

Aave liquidates borrowers when the health factor falls below 1, and Morpho when LTV exceeds the market's defined threshold, both collateral-ratio and liquidation engines, transparent and automated but bounded by what automated liquidation can handle.

Origination, servicing, monitoring, workout, and credit recovery require human judgment, legal relationships, and institutional structure that automated protocols leave unaddressed.

Maple and Kraken are adding those layers, along with legal structuring that goes beyond what smart contracts alone can enforce.

Kraken's most forward-looking announcement line is “repeatable template for additional originators,” framing the facility as a credit infrastructure template open to other originators.

If that claim holds, the structure becomes a model for exchanges, custodians, and OTC desks seeking to grow their lending books by bringing in senior outside capital.

The problem Goldfinch identified

In April 2024, a Goldfinch governance update said Lend East expected to repay approximately $4.25 million of a $10.15 million pool, a roughly 58% principal loss, with the chain logging the loss in real time while Warbler Labs turned to external counsel and off-chain legal processes to pursue recovery.

Maple and Kraken aim to sidestep that specific failure mode by using liquid BTC and ETH as collateral, with execution on a crypto exchange taking seconds, recovering a defaulted trade-finance receivable in an emerging market takes years.

The collateral choice concentrates risk in market liquidity and execution speed, a test the structure can run quickly against observable data.

The structural bet is that crypto-native collateral pairs best with warehouse finance, with defined roles, defined seniority, and defined triggers, and a borrower underwriting layer on top.

RWA.xyz shows tokenized credit at $5.73 billion in distributed value as of June 25, with Maple as the largest platform by value at approximately $1.4 billion and a 24.6% market share. These figures show that real institutional capital is already allocated to the category.

Warehouse finance as credit infrastructure

Galaxy's latest leverage report put total crypto-collateralized lending at $67.42 billion at the end of the first quarter, down 5.1% quarter over quarter and 14.3% below the high registered in the third quarter of 2025.

DeFi lending apps still held $28.22 billion in outstanding loans, down 13.82% in the first quarter, while CeFi lenders had $25.43 billion in open borrows, down 7.23% on the quarter.

Combining DeFi apps and CeFi lending venues, Galaxy tracked $53.65 billion of outstanding crypto-collateralized borrows at quarter-end, with DeFi's share narrowing to 52.6% from 54.3% in the last quarter of 2025.

Galaxy said DeFi open borrows had already fallen to $23.29 billion as of May 1, down 50.58% from their Sept. 19, 2025, all-time high of $47.13 billion, following exploits and capital flight that hit on-chain lending.

That makes Maple and Kraken's facilities more relevant to institutional credit returns, but it requires answers on collateral custody, first-loss protection, servicing, liquidation triggers, legal isolation, and what lenders can verify before stress hits.

Warehouse lines in traditional credit are the bridge between loan origination and scaled capital markets.

A World Bank/IFC document describes them as revolving facilities used to build loan portfolios for future securitization, with assets pledged to an SPV and core risk mitigants including servicing, trust agreements, custodians, overcollateralization, and legal enforceability.

SIFMA reported $232.3 billion in US ABS issuance through May 2026, up 12.6% year over year, the scale standardized structured credit reaches when its infrastructure is trusted.

If Maple and Kraken perform through normal market volatility, the template becomes available to other originators.

Standardized LTV bands, collateral eligibility rules, liquidation triggers, custody arrangements, servicing obligations, and on-chain reporting templates could follow, creating the consistent credit documentation that institutional capital needs to allocate at scale.

Where the structure gets tested

The risk has moved from opaque balance sheets to execution, including accurate pricing during collateral declines, timely margin calls, liquid markets for liquidation, responsive custody, and servicer performance when it counts most.

If BTC or ETH gaps lower faster than margin calls execute, the facility depends on auction depth and execution speed, and multiple lenders liquidating similar collateral simultaneously can amplify selling.

That is the same forced-liquidation dynamic that crypto markets have experienced repeatedly during sharp drawdowns.

Legal structure reduces opacity, while collateral price volatility stays in the market regardless of how the credit stack is structured.

The model proves itself during a sharp BTC or ETH price drop, a liquidity gap in collateral markets, a borrower default, a servicer impairment, or a legal test of the SPV's bankruptcy remoteness.

Coinbase offers USDC borrowing against BTC collateral through Morpho, with liquidation triggered at 86% of the BTC collateral's market value.

Maple and Kraken build the institutional layers above that model, and each layer adds an operational dependency that requires performance during a rapid collateral decline.

What comes next

Warehouse facilities in traditional credit typically precede securitization, and originators use them to accumulate loan pools, build performance history, and standardize documentation before accessing broader capital markets.

If Maple and Kraken's loans perform through a full market cycle, the next step could be larger pools of crypto-backed credit financed by institutional investors who need that performance record before they can allocate.

If this template spreads, crypto credit could develop consistent underwriting criteria: which collateral qualifies, at what LTV, with what liquidation triggers, held by what type of custodian, serviced under what obligations, reported in what on-chain format.

That consistency enabled the traditional ABS market to reach $232 billion in annual issuance, allowing buyers to underwrite a structure once and apply that framework across the entire loan pool.

Crypto-backed credit needs that same infrastructure layer before institutional capital allocates to it at scale, with Maple and Kraken running the first test of whether DeFi can build it.

The post Crypto lending turns to Wall Street credit rules to win back institutional trust after 2022 collapse appeared first on CryptoSlate.

SOL touched $64.56 intraday on June 25 before recovering toward $66.56 as Bitcoin fell to $58,189. Fed hike odds for September held above 60% after the PCE print, and tight liquidity kept the broader market locked out of high-beta crypto rotation.

Solana still ranked third among all blockchains by 30-day net bridge inflows, with roughly $137 million flowing to the network, while tokens based on its blockchain gained ground in the same period.

Backpack gained 356%, Solstice's SLX climbed 92.5% over 30 days and nearly 159% over the past seven days, CARDS rose 74%, and JTO added 29%. Those moves show traders are already expressing Solana recovery risk through smaller network tokens, with SOL's own reversal still unconfirmed.

Jake Kennis, senior research analyst at Nansen, said SOL's earlier bounce off June 19 lows, combined with daily volumes holding above $4 billion and roughly $140 million in monthly chain inflows, pointed toward sustained interest.

SOL has since given back those gains and made new lows, which Kennis acknowledged makes the durability question harder to answer.

For a broader Solana recovery to hold, he said, winners inside the network need to reinvest in the chain, broadening on-chain performance beyond a handful of isolated token moves.

The macro gate

BTC traded between $58,189 and $61,844 on June 25, as the odds of a September hike held above 60% even after the in-line PCE print.

That backdrop keeps a broad, sustained Solana rotation out of reach for now, as high-beta assets need risk-on conditions to sustain gains, and the Fed's hawkish path hasn't delivered them.

Ryan Lee, chief analyst at Bitget Research, said FTX-related asset sales, tighter market liquidity, and HYPE's sudden surge have collectively weighed on altcoin capital rotation.

Lee called those market frictions, arguing that they leave Solana's high-throughput architecture and DeFi activity intact, but they still set the ceiling for any near-term rally.

HYPE has captured the high-beta altcoin rotation that Solana-adjacent tokens would typically absorb in a risk-on move, and the FTX supply overhang continues to weigh on sentiment.

Backpack's 356% move, SLX's 159% over seven days, CARDS at 74%, and JTO at 29% all preceded any clean SOL reversal, so traders positioned in higher-beta network tokens first, with SOL's own confirmation still pending.

After the memecoin casino

Pump.fun's daily revenue fell from around $4.8 million six months ago to about $800,000 in June, and its seven-day average token graduation rate dropped to 0.26%, an 80% decline over three months.

Ben Nadareski, CEO and co-founder of Solstice, said Solana apps still generate about $2.8 million a day in revenue despite that, over double Hyperliquid's and roughly 2.5 times Ethereum's.

Capital kept flowing into the network while the casino emptied, and Nadaresk sees this disconnect as showing Solana's fee base now runs on application revenue.

Collector Crypt, which sells tokenized Pokémon cards, generated about $4 million in revenue last week, with over 30% of buyers redeeming the physical card. Meteora and Backpack produce fee revenue from trading and exchange infrastructure.

Tokenized equities on Solana count more than 170,000 holders and half a billion dollars in assets, with most trading volume occurring outside US market hours.

SpaceX is Nadareski's example: buyers seeking exposure to the firm's stocks found it on-chain because no standard brokerage offers it.

Solana's May roundup reported $2.8 billion in RWA value on the network, 97% of the cumulative on-chain spot trading volume for tokenized equities, and $16.4 billion in stablecoin supply.

Blockworks data put spot trading volume for tokenized assets was nearly $3 billion in June, almost triple the $1 billion recorded in May.

Nadareski argued that the tokens are following application traction this time, in the right order, and inflows are the last to show up.

The setup

If Bitcoin closes below $58,000, bridge inflows will reverse quickly. FTX supply overhang, tighter liquidity, and HYPE's dominance in the high-beta altcoin rotation are still active headwinds.

21Shares has argued that Solana's value-capture structure channels most economic returns to applications, leaving SOL's price gains to depend on separate demand drivers beyond app revenue alone.

SOL needs to reclaim $70, and Bitcoin needs to hold above $60,000 before the network's inflows and app revenue convert from latent potential into a confirmed trend.

A Solana Summer requires Bitcoin to stabilize, September hike odds to ease, and bridge inflows to persist long enough to broaden from network token speculation into sustained SOL demand.

Solana enters that wait with $137 million in 30-day inflows, $2.8 million in daily app revenue, 97% of tokenized equity spot volume, and a basket of network tokens already pricing in recovery, a stronger pre-conditions profile than most chains can show during a downturn.

If macro turns, Solana has a specific and data-backed claim to lead the next high-beta rotation. If macro stays hostile, inflows and token moves will look like early positioning the market wasn't ready to absorb.

The post A ‘Solana Summer’ could lead the next altcoin rebound if Bitcoin holds the line appeared first on CryptoSlate.

Bitcoin registered an intraday low of $58,189 on June 25 before clawing back toward $60,100 as of press time, even as the Federal Reserve's preferred inflation gauge landed roughly in line with expectations.

The May PCE print came in at a headline of 4.1% year over year and a core of 3.4%, with a monthly headline of 0.4% versus a 0.5% estimate. It cleared the immediate downside threat of an upside inflation shock, leaving BTC without a new bid.

Matt Mena, senior crypto research strategist at 21Shares, called the print “a brief exhale.” Headline PCE is still over double the Fed's 2% target.

The June FOMC statement kept rates at 3.50%-3.75% and noted that 17 of 18 participants judged inflation uncertainty to be above normal, with risks weighted to the upside.

The Fed ceiling

Can-Luca Köymen, investment strategist at Sygnum Bank, described the current policy environment as a “print-by-print Fed,” where core PCE drives decisions more than CPI, and Warsh has already signaled that forward guidance is no longer a policy tool.

September hike odds stayed above 60% after the June 25 data, with market pricing pointing to a hawkish path through year-end.

When dollar strength reasserted in recent weeks, Glassnode described DXY's move as “not constructive” for BTC and the dominant macro signal.

The June 25 modest dollar easing after PCE tracked directly with Bitcoin's partial recovery from $58,189 toward the high-$59,000 area, underscoring how heavily Bitcoin now trades as a liquidity-sensitive risk asset.

Alex Blume, founder and CEO of Two Prime, said Bitcoin has “struggled in price and in garnering attention,” while AI stocks have captured the bulk of risk appetite.

US semiconductor stocks surged roughly 170% over the prior year, while Bitcoin shed around 40% over the same period. A hawkish Fed and AI-equity dominance leave BTC fighting for flows on two fronts simultaneously.

The $58,000 Bitcoin price stress test

Bulls had pointed to $59,000-$62,000 as the zone anchored by the 200-week moving average and concentrated buying volume. June 25 broke the lower boundary of that zone, pushing BTC to $58,189 before a partial recovery.

A decisive close below $58,000 over multiple sessions would make the PCE relief look structurally irrelevant, and a convincing breach of $60,000 would set up $50,000 as the next psychological target.

US-traded spot Bitcoin ETFs logged net outflows of $68.3 million on June 22, $113.8 million on June 23, and $469 million on June 24, for a total of roughly $651 million across three sessions.

Strategy amplifies the macro headwind with a crypto-specific funding problem, as MSTR fell to an intraday low near $85 on June 25 before trading around $87, and the company's STRC preferred stock dropped below its $100 par value to $89, closing one of Strategy's BTC funding channels.

Blume said Strategy's behavior has “scared the market,” with its preferred equity near 80 cents on the dollar. He argued the fears are emotional, but STRC is still below par, MSTR is still below $90, and neither resolves on PCE data.

Forced selling exhausts itself

Glassnode's Accumulation Trend Score by wallet cohort reached 1, its maximum reading, during the previous plunge towards $60,000.

That means large holders have rotated from distribution to active accumulation in the previous correction, with investors purchasing a net 259,298 BTC between $59,000 and $67,000 since June 5.

Over 10.5 million BTC sat at an unrealized loss as of early June, exceeding the amount held in profit for the first time this cycle.

Mena pointed to March 2020 and the FTX collapse in 2022 as the closest historical analogs, both of which saw forced selling exhaust itself before major recoveries.

Blume made the same point from a different angle, arguing that the selling coming out of Strategy-adjacent anxiety is “largely emotional, but not truly a structural issue.”

With half of all holders at an unrealized loss and Glassnode's score at 1, the accumulation is absorbing forced selling. Mena attributed the recent selling to basis trade unwinds as the CME premium collapsed, driven by the mechanical closing of positions among traders.

The bull sequence requires cooperation from oil and the Fed, as Brent settled at $73.74 on June 24 and WTI at $70.34 after roughly 20 million barrels exited the Strait of Hormuz in 24 hours, pulling the energy component lower.

If that holds into June and July inflation prints, it gives the Fed cover to hold. Köymen's base case has the Fed holding across the next two to three meetings if Hormuz flows continue to improve.

A Fed hold, softer energy, and cooler-than-expected sequential CPI and PCE readings would pull the dollar lower, creating room for Bitcoin to reclaim $66,000-$67,000. Clearing that level and $70,000-$75,000 enter the conversation, followed by the $82,000-$85,000 ceiling that has capped Bitcoin since February.

The bear case rests on existing forces: September hike odds above 60%, continued ETF outflows, and Strategy's STRC still below par.

A CEPR analysis of the Iran war shock estimated that even a cautiously optimistic Hormuz disruption scenario could still add 0.6 percentage points to US headline inflation and 0.2 percentage points to core in 2026, putting the Fed's 2026 projections further above target.

If BTC loses $58,000 on a closing basis with outflows continuing and the dollar reasserting itself, the $50,000–$54,000 band becomes the next zone to watch.

The next Bitcoin price move

Whether oil relief translates into softer June and July inflation data will determine how much room the Fed has to hold and how much room Bitcoin has to reclaim $66,000.

If ETF outflows reverse as macro anxiety fades, the bull case for exhaustion in forced selling becomes self-reinforcing. If outflows persist despite a benign PCE print, the data confirm structural de-risking.

The $59,000-$62,000 zone held by the thinnest margin, and reclaiming $60,000 on a closing basis with improving ETF flows would confirm that the June 25 macro reprieve translated into something durable.

Failing to do so would confirm that ETF outflows and the Fed ceiling will decide the next leg.

The post Bitcoin nearly loses $58K as ETF outflows decide whether inflation relief holds appeared first on CryptoSlate.

A group of crypto tokens tied to some of the industry’s largest revenue-generating applications could be positioned for a revaluation as Congress moves closer to establishing a federal rulebook for digital-asset markets.

The Digital Asset Market Clarity Act, known as the CLARITY Act, would define regulatory responsibilities for crypto assets and the companies that trade them. Supporters say the legislation could give banks, asset managers, and other traditional financial firms greater confidence to conduct business on public blockchains.

Asset management firm Grayscale expects that shift to favor applications already processing transactions and collecting fees, particularly those built around trading, lending, and other financial services.

The potential catalyst comes after a prolonged market downturn left many of their tokens valued at relatively low multiples of the revenue their protocols generated over the past year.

The Senate Banking Committee advanced the legislation in May after the House approved an earlier version in 2025. Grayscale said the bill could progress as soon as next month, though its timing and final provisions remain subject to negotiations in Congress.

Trading tokens lead the potential winners

Hyperliquid sits at the front of the group because of the scale of its derivatives business.

The decentralized trading platform generated $871 million in protocol revenue over the 12 months through June 24, more than any other application in a ranking compiled by Grayscale.

HYPE, its native token, carried a circulating market capitalization of approximately $13.46 billion, giving it a trailing revenue multiple of about 15. That valuation is higher than that of most tokens on the list, but Hyperliquid also generated almost twice as much revenue as its closest competitor.

Clearer US market-structure rules could expand the pool of assets and participants entering blockchain-based trading venues. Greater certainty over whether digital assets fall under securities or commodities regulation could also make it easier for regulated institutions to connect with on-chain markets.

The opportunity extends across decentralized exchanges and trading aggregators.

PancakeSwap generated $322 million over the trailing 12 months, while its CAKE token had a circulating value of $425 million. That placed it near 1 times protocol revenue, among the lowest multiples in the ranking.

Jupiter, a Solana-based trading aggregator, recorded $130 million of revenue and a $716 million circulating market capitalization, equivalent to about 6 times revenue. Aerodrome generated $124 million in revenue and traded at nearly 4 times revenue, while Meteora generated $62 million in revenue and carried a valuation of only $78 million.

Raydium’s $46 million in revenue compared with a $158 million circulating market value, leaving the Solana exchange token at roughly 3 times revenue.

Those platforms could benefit if the legislation encourages issuers to bring more regulated assets onto blockchains. Each new tokenized security, commodity, or fund would need markets where investors can buy, sell, and provide liquidity.

Uniswap offers a different valuation profile. The decentralized exchange generated $49 million in protocol revenue, but its UNI token carried a circulating market value of about $1.78 billion, equal to 37 times revenue and the highest multiple among the 15 protocols.

That premium suggests investors already assign substantial value to Uniswap’s brand, market position, and prospects for future fee generation.

It also means the token may have less room for a valuation-driven rebound than competitors trading at lower multiples, unless regulatory clarity produces a significant increase in activity or strengthens the connection between protocol fees and UNI holders.

Pump.fun, the Solana-based memcoin launchpad, ranked second overall with $459 million in annual protocol revenue and a circulating market capitalization of $456 million.

While the Solana-based platform is less directly tied to institutional finance, clearer rules around digital-asset issuance and trading could still affect its business.

Its approximately 1-times revenue multiple reflects both the scale of its fee generation and investor doubts about whether activity associated with speculative token launches can remain durable through changing market cycles.

Aave and Sky could gain from tokenized credit

Lending protocols may benefit from the next stage of on-chain adoption as tokenized assets move beyond trading and become collateral for loans.

Aave generated $125 million in trailing protocol revenue. Its AAVE token had a circulating market capitalization of approximately $1.17 billion, placing its multiple near 9.

The protocol allows users to borrow and lend digital assets through automated markets. An increase in regulated stablecoins, tokenized funds, and blockchain-based securities could broaden the pool of assets available as collateral and attract more borrowers and lenders to its markets.

Institutional participation could be particularly significant. Banks and asset managers entering public blockchains would require credit markets, collateral-management systems, and sources of liquidity alongside trading venues.

Aave already operates much of that infrastructure, though the extent of its benefits would depend on whether institutions use open protocols directly or favor permissioned systems and regulated intermediaries.

Sky, the project previously known as Maker, could also gain from the expansion of tokenized credit and stablecoins.

The protocol generated $248 million over the past year, the fourth-highest total in the ranking. Its SKY token had a circulating market capitalization of about $1.24 billion, equivalent to 5 times the protocol's revenue.

Sky’s exposure to stablecoins and tokenized real-world assets gives it a direct link to the type of financial activity that Grayscale expects the legislation to encourage. Greater use of blockchain-based Treasury products, credit instruments, and cash-like tokens could increase demand for the infrastructure used to issue, borrow, and settle those assets.

President Donald Trump-backed World Liberty Financial also appears among the largest revenue producers, with $105 million over 12 months. Its WLFI token was valued at approximately $1.82 billion, or 17 times revenue.

That relatively high multiple indicates that investors are assigning value beyond the protocol’s current fee generation. Its political connections and evolving product strategy may also make direct comparisons with more established lending and exchange protocols difficult.

Staking and infrastructure may benefit indirectly

An increase in on-chain financial activity would also create demand for the systems that secure blockchain networks and allow investors to earn returns from their assets.

Lido Finance generated $77 million in trailing protocol revenue, while its LDO token had a circulating value of $216 million. Its 3-times revenue multiple places it among the cheapest assets in the group on that measure.

Lido provides liquid staking services, allowing users to commit assets to help secure blockchain networks while receiving tokens that can continue to circulate through decentralized finance applications.

Ether.fi operates in a related part of the market. The protocol generated $56 million over the period and carried a circulating market value of $314 million, giving its ETHFI token a multiple of about 6.

If the CLARITY Act encourages more assets and transactions to move onto public networks, staking providers could benefit from higher demand for blockchain security and yield-bearing products. Growth in tokenized finance could also create more uses for liquid staking tokens as collateral across trading and lending applications.

The effect would probably arrive less directly than it would for exchanges or lending markets. Staking remains subject to separate legal questions, while the final legislation may not resolve every issue surrounding the treatment of staking services or rewards.

Still, the inclusion of Lido and Ether.fi among the industry’s largest revenue generators shows that the economic activity behind crypto extends beyond trading. Financial applications depend on underlying networks, validators, and liquidity systems that may also expand as transaction volumes rise.

Low Multiples Leave Room for a Repricing

The broader investment case rests on how little the market currently pays for the revenue generated by many of these applications.

Twelve of the 15 protocols in Grayscale’s ranking traded at single-digit multiples of trailing revenue. Pump.fun, PancakeSwap, Meteora, and Collector Crypt were each valued at approximately 1 times revenue. Lido and Raydium traded at nearly 3x, while Aerodrome was valued at 4x.

Sky, Jupiter, and Ether.fi carried multiples between 5 and 6. Lighter, an on-chain trading platform that generated $50 million in revenue, traded at around 8x, while Aave stood at 9x.

Grayscale argues that the valuations look even lower when viewed against potential earnings or cash flow because many blockchain applications operate without the large staffing, property, and administrative expenses associated with traditional companies.

The comparison has limits. Protocol revenue does not always belong to token holders in the same way corporate revenue belongs to a company and ultimately supports its shareholders.

Fees can flow to validators, liquidity providers, developers, protocol treasuries, or users. Some applications also distribute tokens to attract activity, creating an economic cost that may not appear in headline revenue figures.

Circulating market capitalization can further understate a project’s eventual valuation when a large portion of its token supply remains locked and scheduled for future release.

For investors, the strongest potential winners will therefore be protocols that combine revenue growth with a clear mechanism for directing economic value toward their tokens. Those links can include fee distributions, token repurchases, staking demand, or governance rights over protocol income.

The CLARITY Act would not guarantee higher prices for any of the assets. It could, however, reduce a regulatory discount that has limited institutional participation and complicated how investors value US-facing crypto projects.

The post These crypto tokens could be the biggest winners from the CLARITY Act appeared first on CryptoSlate.

Strategy’s Bitcoin holdings have fallen roughly $12 billion below their purchase cost, placing the company’s capital-raising model under its sharpest pressure since it accelerated its Bitcoin treasury strategy.

The company held 847,363 Bitcoin as of June 21, acquired for an aggregate $64.1 billion at an average price of $75,651. With the top crypto recently trading near $60,000 to $62,000, the position was worth about $52 billion.

Against that backdrop, Strategy's MSTR common stock has fallen under $100, its lowest level in about two years.

While this substantial unrealized loss does not compel Strategy to sell its holdings or create an automatic margin call, it significantly weakens the conditions that allowed the company to repeatedly issue securities, buy more Bitcoin, and expand a treasury that became central to its market valuation.

Strategy’s accumulation model has worked most efficiently when its common shares traded at a premium to the value of the Bitcoin on its balance sheet. That premium allowed the company to raise capital through stock sales while limiting the number of new shares issued.

As Bitcoin and Strategy’s stock have declined, that advantage has narrowed. The pressure has since spread to STRC, the company’s variable-rate perpetual preferred stock, which is trading well below the $100 stated amount Strategy designed it to track.

Preferred Shares Fall Further Below Target

Strategy created STRC as an income-oriented security intended to trade near its stated $100 price. The company can reset its dividend rate monthly to influence investor demand and support the market price.

The security currently pays an annual dividend of 11.5%, equal to $11.50 per share based on the stated amount. STRC has nevertheless fallen to about $81, almost 20% below the level the company seeks to maintain.

At $81, the current payment represents an effective annual yield of about 14.2% for a new buyer, assuming Strategy’s board continues to declare the dividends and the rate remains unchanged.

The lower share price does not increase the amount Strategy pays on its existing STRC shares. It does show that investors are demanding a larger return to hold the security, and makes additional preferred-stock issuance less efficient.

Strategy could raise the dividend rate to encourage buying and help move STRC closer to $100. However, such an adjustment would add to the company’s recurring cash requirements. Meanwhile, keeping the rate unchanged would preserve liquidity but could leave the preferred stock trading at a persistent discount.

That trade-off has become more consequential as concerns over Strategy’s Bitcoin exposure and cash needs increase. The company has about $10.5 billion of STRC outstanding, meaning that even a modest rate increase could materially increase its annual dividend expense.

A sustained discount could also weaken STRC's ability to raise future financing. New investors may be unwilling to purchase additional shares near the stated amount while comparable securities trade substantially below it in the secondary market.

STRC options traders prepare for a wider range

The STRC options market shows traders positioning for both a partial recovery and further declines.

Total options volume reached about 10,400 contracts, or 167% of the average daily volume of 6,220. The volume put-call ratio stood at 1.35, meaning put activity exceeded call volume during the measured period.

The ratio points to a defensive tilt but does not show whether the puts were purchased or sold. Open-interest data also do not identify whether the positions belong to institutions, individual investors, or market makers.

For contracts expiring on July 17, the largest concentration of open interest is in the $95 call, with 9,432 contracts outstanding. The $100 call carries another 5,518 contracts, while the $90 call has 2,536.

The concentration identifies the area between $95 and $100 as the principal upside range reflected in the options chain. A move toward those strikes would bring STRC closer to the level Strategy intended it to track.

However, the positions do not establish that traders collectively expect such a recovery. Some of the calls may represent outright bullish bets, while others may have been sold against existing STRC holdings or used in multi-leg spreads that treat the region around $100 as an upper boundary.

Meanwhile, the downside positions extend considerably further.

Open interest includes 1,533 contracts at the $90 put, 1,976 at the $85 put, and 2,994 at the $60 put. The $60 strike would place STRC 40% below its stated amount and increase the effective yield to more than 19% if the current dividend rate were maintained.

These numbers show that some traders are preparing for a scenario in which the dividend-reset mechanism fails to restore the stock to $100 and investors continue to demand a larger return.

Taken together, the options positions define the range investors are watching. Calls near $95 and $100 preserve the possibility of a managed recovery.

However, the put positions, particularly at $60, show that traders are also protecting against a substantially larger discount.

Strategy builds cash and opens the door to Bitcoin sales

To navigate this market downturn, Strategy’s recent capital allocation suggests the company is placing greater emphasis on liquidity.

This week, the company announced that it raised about $335.5 million through common-stock sales, but used only $34.9 million to acquire 520 additional Bitcoins.

According to the firm, much of the remaining capital helped lift Strategy’s dollar reserve to approximately $1.4 billion.

This action shows that the company is still acquiring Bitcoin, but cash needed for interest and preferred-dividend payments is competing more directly with additional purchases.

That marks a change from periods when the company directed a larger share of its available capital toward expanding the treasury.

Meanwhile, Strategy has also shown a willingness to sell some of its holdings to fund its operations.

Last month, Strategy sold 32 Bitcoin for about $2.5 million and said the proceeds were expected to help fund STRC distributions. This was Strategy’s first net Bitcoin disposal since 2022.

While the sale was negligible relative to the size of the company’s holdings, it demonstrated that part of the treasury could be converted into cash when other financing channels became less attractive.

Speaking on this action, Ki Young Ju, CryptoQuant CEO, said:

“[Strategy needs to] create a disciplined selling framework for the next bull market. Partial sales near cycle highs would not mean abandoning Bitcoin. It would deleverage the company, realize shareholder value, and create dry powder to re-accumulate lower. That's not trading. It's risk management”

Strategy Has Time, but Fewer Easy Choices

The overall pressure on Strategy and STRC has divided market observers over whether the Saylor-led firm is confronting a temporary loss of confidence or a deeper flaw in its financing model.

Su Zhu, the co-founder of the defunct Three Arrows Capital, argued that the preferred stock could stabilize as shares pass from shorter-term investors to holders more willing to accept its elevated yield and volatility. In his view, Strategy may not need an immediate overhaul if stronger demand emerges at the lower price.

He said the company could further support confidence by explaining how STRC holders would be treated if dividends were suspended, including whether the shares might eventually carry a claim on Strategy’s Bitcoin.

STRC does not currently allow investors to exchange their shares for the underlying cryptocurrency. Adding such a feature could establish a clearer relationship between the preferred stock and Strategy’s assets, potentially creating a valuation floor. It would also expose the company to redemption demands that are absent from the current structure.

Meanwhile, Joe Burnett, the VP of Bitcoin Strategy at Strive, said that this lack of immediate redemption is an important distinction between Strategy and failed crypto systems such as TerraUSD.

Before TerraUSD collapsed in 2022, about $18.7 billion of the stablecoin was circulating against roughly $3.1 billion of Bitcoin reserves, while its design allowed holders to seek redemptions. Strategy, by comparison, holds more than $50 billion of Bitcoin against about $10.5 billion of STRC, and preferred shareholders cannot demand repayment in the underlying asset.

The comparison suggests Strategy is less vulnerable to the type of rapid run that overwhelmed Terra. Its risk is more gradual: a prolonged Bitcoin decline could raise financing costs, weaken demand for its securities, and force the company to dedicate more capital to dividends and interest payments.

However, Capriole Investments founder Charles Edwards sees a more fundamental problem. He argued that Strategy remains too reliant on Bitcoin appreciation and continued access to capital markets to support its obligations.

Edwards said the company should reduce debt and preferred-stock liabilities while developing sources of income that do not depend entirely on rising Bitcoin prices.

His proposals included collateralized lending and settlement services, as well as acquisitions of digital-asset treasury companies trading at steep discounts to the value of their holdings.

That approach would move Strategy closer to a Bitcoin-focused financial institution and away from a model centered primarily on raising capital to buy more of the cryptocurrency. It would also require the company to retreat from some of the securities it created to expand its treasury.

Despite these views, Strategy still has room to manage the downturn. Its Bitcoin holdings exceed $50 billion at current prices, and it has built a $1.4 billion reserve. Additionally, STRC investors cannot immediately redeem their shares against the treasury.

Those safeguards reduce the risk of a sudden liquidity event, but they do not resolve the rising cost of maintaining the structure.

A Bitcoin recovery would improve the value of Strategy’s holdings and could revive demand for both MSTR and STRC. A prolonged downturn would leave the company with less attractive options: increase the STRC dividend to support the preferred shares, issue common stock at weaker prices, reduce Bitcoin purchases or sell more of the treasury to meet cash obligations.

The debate is therefore less about whether Strategy can survive an underwater position in the near term than about how much it must spend to preserve its financing model until Bitcoin recovers.

The post Strategy’s Bitcoin bet sinks $12 billion underwater as STRC traders brace for more pain appeared first on CryptoSlate.

If you're checking crypto prices today, brace yourself: it's a sea of red. Bitcoin ($BTC) has slipped back below the $60,000 mark once again, dragging nearly the entire market down with it. After a brutal inflation-driven sell-off, the world's largest cryptocurrency is now trading around $59,586 — and almost every major coin is bleeding alongside it.

Let's break down exactly where crypto prices stand today, which coins are getting hit hardest, and what's behind this latest leg lower.

What are the crypto prices today?

The damage is broad and deep. Here's where the top of the market sits right now:

• Bitcoin ($BTC): ~$59,586 — down 3.39% on the day, down 4.35% over 7 days, and a painful 31.91% in the red year-to-date. Market cap still commands a massive $1.19T.
• Ethereum ($ETH): ~$1,550 — the worst major performer, down 5.80% on the day and a brutal 47.73% YTD.
• XRP ($XRP): ~$1.03 — down 4.49% on the day and down 8.34% over the week, clinging to the $1 line with a 43.96% YTD loss.
• BNB ($BNB): ~$565 — holding up best among the large caps, down just 0.53% on the day.
• Solana ($SOL): ~$69 — down 0.94% on the hour but actually up 1.07% over 7 days, a rare pocket of relative strength.
• Dogecoin ($DOGE): ~$0.074 — among the heaviest weekly losers, down 9.77% over 7 days.

Two names buck the trend worth noting. TRON ($TRX) is roughly flat and remains one of the only majors in the green year-to-date, up 13.25%. And Hyperliquid ($HYPE), despite a 5.46% weekly dip, is the standout of the entire board with a staggering 148.16% YTD gain — a reminder that even in a bloodbath, isolated strength exists.

Why is Bitcoin below $60,000 again?

The trigger this time was macro, not crypto-specific. The catalyst was the US Personal Consumption Expenditures (PCE) report, which showed inflation running hotter than economists had forecast — and because PCE is the Federal Reserve's preferred inflation measure, an upside surprise immediately raises the probability that the Fed keeps interest rates elevated for longer.

The numbers were ugly. Headline PCE inflation rose to 4.1% year-over-year in May, the highest reading since 2023 and more than double the Fed's 2% target. Higher-for-longer rates are kryptonite for risk assets — when government bonds yield 4.5–5%, capital rotates out of speculative plays like crypto and into safe yield.

The market repriced instantly. The inflation shock triggered $1.48 billion in crypto-wide liquidations within 24 hours, with long positions bearing the brunt at $1.21 billion of that total and Bitcoin alone seeing $665 million in forced exits. At its worst, the drop was severe — Bitcoin printed a 21-month low of $58,115 during the session before staging a partial recovery.

What else is dragging crypto prices down?

The inflation print was the spark, but several forces are amplifying the damage at once.

First, the Fed outlook has structurally shifted. Markets repriced the probability of a December rate hike to roughly 77%, with Bank of America now expecting three rate increases in 2026 and Deutsche Bank forecasting two hikes starting in September. The market has gone from pricing cuts to pricing hikes — a brutal reversal for crypto.

Second, the AI trade keeps stealing crypto's capital. AI infrastructure stocks continue pulling speculative capital away from crypto, and the Nasdaq 100 erased an intraday rally on the same inflation news, with the two markets tracking each other closely all year.

Third, there's a massive options expiry landing today. The largest quarterly options settlement of 2026 is clearing on Deribit, with $10.6 billion in open interest, 80% of positions out of the money, and max pain sitting at $72,000 — roughly $12,000 above the current spot price. The market was positioned for higher prices that simply never arrived.

On top of all that, the fear is palpable. The Fear and Greed Index is sitting deep in Extreme Fear, around 20–23.

What are the key levels to watch?

With $60,000 broken again, the technical map matters more than ever. The $59,000 level is the market's load-bearing floor today, and a close below it shifts the next reference point to $55,000, with deeper bearish targets at $52,000 and below still on the table.

On the way back up, the bulls have work to do. The first resistance cluster sits at $61,800–$62,000, while the $63,000–$64,400 zone — where the 21-day EMA sits — would need sustained buying to break.

Crypto's most important piece of US legislation just picked up an opponent almost nobody saw coming: the Catholic Church. And it lands at the worst possible moment for a market already deep in the red, with Bitcoin ($BTC) changing hands around $59,800 after slipping below the psychological $60,000 line this week.

This isn't a fringe objection. It's a coordinated, faith-based campaign aimed squarely at the provision the crypto industry has called a red line — and it's reshaping the math on whether the CLARITY Act passes before Congress breaks for August.

Why Are Catholic Leaders Opposing the CLARITY Act?

On June 23, a coalition delivered a letter to Senate leadership opposing a core section of the bill. In a letter to Senate Majority Leader John Thune and Senate Democratic Leader Chuck Schumer, more than 80 Catholic leaders, organizations and advocates warned that provisions in the House-passed CLARITY Act could weaken safeguards against illicit finance and create opportunities for criminal organizations to exploit digital asset networks. The letter was organized by the Alliance to End Human Trafficking, a faith-based nationwide network.

The framing was explicitly moral. "The Catholic Church has long taught that economic systems and markets must ultimately serve the human person, especially the poor, vulnerable, and those at greatest risk of exploitation," the letter said, adding that innovation "cannot come at the expense of human dignity or public accountability."

The market mood was already grim as the news circulated. Ethereum ($ETH) was trading near $1,567, down sharply on the day, while XRP ($XRP) hovered around $1.04 and Solana ($SOL) sat near $65 — a sea of red across the majors.

What Is Section 604 of the CLARITY Act (the BRCA Provision)?

The dispute isn't about crypto regulation broadly. It targets one specific mechanism. At the center of the objections is Section 604 of the CLARITY Act, commonly known as the Blockchain Regulatory Certainty Act, or BRCA, which would provide legal protections for developers of decentralized blockchain software by limiting when they could be held liable for activities conducted by users of their software. 

Here's why both sides are dug in. The coalition argues that by removing non-custodial developers from the money-transmitter classification, Section 604 strips away the transaction-monitoring and suspicious-activity-reporting obligations that anti-money-laundering frameworks depend on. The industry sees it as essential protection for builders. Many crypto industry leaders have said the BRCA is a red line, and that they would not support the legislation if it were removed.

That's the deadlock: the exact clause the church wants stripped is the one the industry refuses to give up. Resolving the objection one way breaks the bill for the other side.

How Does the CLARITY Act Affect Bitcoin and Crypto Prices?

A single advocacy letter doesn't move $BTC on its own. But it matters because of where it lands and what it represents.

The CLARITY Act has been one of the few genuine bullish catalysts traders were counting on. With Bitcoin ($BTC) stuck under $60,000 and sentiment already battered by macro headwinds and ETF outflows, the market needs a reason to turn — and clean, fast passage of the bill was supposed to be that reason. Anything that lowers the odds of passage chips away at one of the last remaining upside narratives.

And the odds are not encouraging. Polymarket currently assigns a 42% probability that President Trump will sign the CLARITY Act before the end of 2026. The Catholic intervention doesn't help. A coalition letter targeting the bill's most industry-critical provision, arriving from an unexpected moral quarter, does not improve those odds.

The deeper problem is political optics. It hands opponents a ready-made floor-speech frame: that a vote for the provision is a vote against the tools that catch traffickers — a framing that does not have to be legally accurate to be politically effective. For a market hoping for a confidence boost, that's the opposite of helpful — and it helps explain why $ETH, $XRP and $SOL have struggled to find a floor alongside $Bitcoin.

What Other Opposition Is the CLARITY Act Facing?

The trafficking-safeguard fight is the newest pressure point, but it's far from the only one. The bill is being squeezed from several directions at once. It faces opposition from Wall Street, which wants language added restricting stablecoin rewards; from Native American tribes, which want clauses limiting prediction markets' sports-based wagers; and from some Democrats, who insist the bill must restrict the crypto ventures of President Trump and his family.

That fragmentation is the real danger for anyone holding $BTC and hoping for a catalyst. Each opposition bloc targets a different provision, which means resolving one does not resolve another. The church isn't acting in isolation either — law enforcement groups representing prosecutors, sheriffs and police chiefs sent their own letter warning that the bill's regulatory gaps could make it harder to trace financial flows tied to trafficking and organized crime.

The industry, for its part, is pushing back hard. Digital Chamber CEO Cody Carbone argued that Section 604 simply ensures non-custodial developers who build software tools are not unfairly penalized or treated under the same regulatory burdens as traditional banks.

Will the CLARITY Act Pass Before the August Recess?

For traders watching $BTC for a breakout, the timeline is everything. With the legislative clock ticking toward the August recess, the CLARITY Act sits on the Senate floor calendar but still requires at least seven Democratic votes to clear the 60-vote cloture threshold — and if it fails to advance before the summer recess, negotiations will be pushed into the fall.

That fall window is treacherous. Many industry leaders have said that if the bill cannot pass by next month, it is unlikely to become law this year, given the looming November midterms. In other words, the trafficking-safeguard objection isn't just one more complaint — it's friction at the precise moment the bill can least afford delay.

Just days before a hard EU regulatory deadline, Binance has dropped a bombshell on its European users. In a series of posts on X, the world's largest crypto exchange confirmed it is pulling its licence application in Greece and will try again elsewhere in the bloc.

With the clock ticking and millions of European users watching, here's what actually happened, what it means for your funds, and whether this had anything to do with crypto's brutal price drop this week.

What happened with Binance in the EU?

Binance had been trying to use Greece as its gateway into the European Union. The plan was straightforward on paper: get one MiCA licence, then "passport" it across all 27 member states. That plan has now collapsed.

The withdrawal didn't come out of nowhere. Binance's announcement came just one week after a Reuters report indicated its application was going to be rejected by the Greek finance regulator, the HCMC. In other words, Binance jumped before it was pushed. The company framed it as a prudent decision, noting that with no formal response ahead of the deadline, it chose to move forward in a way that gave users more clarity.

And the timing is critical. The MiCA transitional period for crypto-asset service providers ends on July 1, 2026, and after that date any firm without proper authorization is effectively locked out of the EU market. That gives Binance a razor-thin window to sort out an alternative.

What does this mean for crypto users on Binance?

This is the question on every European user's mind — and the honest answer is: mostly reassurance, with some uncertainty around the edges.

• Your funds are safe. Binance has been emphatic on this point. "The most important message is this: your funds remain safe and secure," the company stated, adding that it is actively reaching out to all EU users via email and in-app notifications.
• Some users may face disruption. Binance has been upfront that not everyone walks away untouched. The firm said that because it must take steps before July 1 to remain compliant, some users may be impacted, and it will communicate directly with affected users about next steps. What "impacted" means in practice — restricted new sign-ups, limits on certain products, or regional service changes — will vary by jurisdiction and hasn't been fully spelled out yet.
• Watch out for scams. Periods of confusion are a goldmine for fraudsters, and Binance issued a pointed warning. The exchange stressed it will never contact users by phone, will only communicate through official channels or email, and will never ask for passwords, 2FA codes, or private keys. If you're an EU user, treat any unexpected "urgent" message with extreme suspicion.

The practical takeaway: don't panic, but do keep an eye on official Binance channels for any account-specific instructions in the coming days.

Did this cause the crypto price crash?

Short answer: no, not really.

It's tempting to link this headline to the brutal sell-off that just dragged Bitcoin below $60,000 and XRP toward $1, but the timeline doesn't support a direct cause-and-effect. The crypto crash was driven by a confluence of macro factors — a sharp sell-off in tech and AI stocks, sticky inflation keeping the Fed hawkish, relentless $Bitcoin ETF outflows, and the fading CLARITY Act catalyst. Those were the real heavyweights moving the market.

The Binance news is better understood as a sentiment drag than a price driver. Landing in an already-fragile, fear-driven market, a regulatory wobble at the world's largest exchange doesn't help confidence — but there's no evidence it triggered the cascade. The market was bleeding before this headline hit, and the structural causes sit firmly in the macro and ETF picture, not in a single licensing setback.

That said, regulatory uncertainty around the biggest on-ramp in crypto is exactly the kind of background noise that can deepen risk-off sentiment when traders are already nervous. It's a contributing chill, not the cause of the freeze.

What happens if Binance finds another EU country?

This is where the story could swing back to neutral — or even positive.

The whole point of MiCA is a single market. Once approved in one EU nation, a firm can "passport" — or transfer its compliance — to the other member nations. So if Binance secures a licence in a different member state, it can in theory restore seamless access across the bloc, and this entire episode becomes a speed bump rather than an exit.

There's already a frontrunner. France has been mentioned as a potential landing spot, and it would be a logical choice — Binance already holds a registration with France's AMF as a digital asset service provider, a designation that predates MiCA, making it easier than starting from scratch.

But it's not a guaranteed clean save. The "passport" system has its critics. Last year, French regulators spoke out about disallowing passporting, threatening to block some firms that received approval in more lax EU states. And Binance's troubles aren't unique to Greece — Greek, Irish and Latvian regulators had reportedly raised concerns about Binance's past legal issues and corporate structure. If multiple regulators are skeptical, finding a willing home could prove harder than Binance's confident messaging suggests.

Will Binance Leave the EU?

For European Binance users, the immediate message is reassuring: your funds are safe, and the company insists it isn't leaving Europe. The real risk is operational disruption in the short term and the open question of whether Binance can secure a new licence before — or shortly after — the July 1 deadline.

On the market side, don't blame this for the crash. The price carnage was a macro and ETF story; the Binance news is a confidence headwind layered on top of an already-jittery market. If Binance lands a licence in France or another member state and passports it across the EU, this likely fades into a footnote. If it can't, the conversation about access for millions of European users gets a lot more serious.

For now: watch your inbox, ignore the scammers, and keep your eyes on which EU flag Binance plants next.

XRP is getting hammered. As Bitcoin smashed below the $60,000 floor, Ripple's token cratered right alongside it, sliding all the way down to around $1.08 after briefly dipping below $1.05. The $1 psychological level — once a distant safety net — is now staring traders dead in the face.

How did XRP crash to $1?

This wasn't an XRP-specific collapse — it was guilt by association. $XRP has a long, well-documented history of amplifying Bitcoin's moves to the downside. On every major Bitcoin drop this year, XRP has lost close to twice as much as Bitcoin, with the ratio staying consistent at around 1.8 to 1.

So when Bitcoin broke below $60,000, XRP didn't stand a chance of holding firm. The setup here is arguably uglier than the last big flush. Bitcoin breaking below $60,000 for the first time since October 2024 — after Strategy broke its years-long never-sell rule and spot Bitcoin ETFs ended their longest outflow streak ever — created conditions worse than the February Iran-war crash, when buyers had stepped in at the $1.11 level that has now broken.

And the key support that bulls had been defending all year finally gave way. XRP was holding $1.28 — the level buyers had defended on every dip since February — barely a week ago, before sliding steeply with $1.11 broken and the $1 floor closing in.

XRP Price Analysis: Is XRP RISKY to Buy?

The daily chart paints a textbook bearish picture. Since topping out near the $1.50 resistance zone in mid-May, XRP has been locked inside a clean descending trendline — a steady sequence of lower highs and lower lows that has capped every bounce attempt.

The key technical takeaways:

• The downtrend is intact. Every rally since mid-May has been sold into at the descending yellow trendline. The mid-June bounce toward $1.30 failed exactly there before rolling over again.
• Broken support turned resistance. The $1.15 and $1.20 levels that once acted as support have flipped into overhead resistance. XRP now trades below both.
• The $1.00 line is the last stand. The green support line sits right at the psychological $1.00 mark. That's the level the entire chart is now gravitating toward.
• RSI at 40.53. Momentum is bearish but not yet deeply oversold on the daily. The RSI sitting around 40 means there's still room to fall before sellers are fully exhausted — a warning sign for anyone expecting an immediate bounce.

The structure is clear: until XRP can reclaim the descending trendline and flip $1.15 back to support, the path of least resistance points lower.

XRP price prediction: where does Ripple go next?

Here's where it gets interesting. The near-term picture hinges almost entirely on two things — Bitcoin and the CLARITY Act.

• The bearish case (downside to $1 and below). With $1.05 broken, the chart is thin. Analysts identify $1.13 as XRP's critical weekly support, noting that a confirmed break below it could bring the $0.90–$1 target zone into focus, citing Bitcoin's weakness as the key drag. Worse-case macro scenarios get uglier still — should Bitcoin drop beneath $60,000 while ETF decisions stall and regulatory progress halts, some projections suggest XRP could settle between $0.21 and $0.75. That's a tail risk, not a base case, but it shows how much damage a prolonged BTC breakdown could do.
• The bullish case (a violent snap-back). Here's the twist that makes XRP fascinating right now. While the price bleeds, on-chain data tells the opposite story. XRP whales now control 45.83 billion tokens — 68.5% of circulating supply, the highest concentration since May 2018 — and Binance whale outflow dominance recently hit 91.4%, the same reading that preceded XRP's rally from $0.50 to over $3 in late 2024. On top of that, positioning is extremely lopsided: short bets currently outweigh longs by roughly 9 to 1, meaning any surprise positive catalyst — like a Senate floor vote going through — could trigger a short squeeze that moves XRP far faster than fundamentals alone would suggest.
• The CLARITY Act is the wildcard. This is the single biggest swing factor. If the bill clears and the macro stabilizes, Standard Chartered forecasts XRP could hit $2.80, with the bullish analyst range extending toward $8 — but if the CLARITY Act stalls and slips to 2030 or beyond, prices could drop closer to $0.53. That's roughly 30–40% downside against 2.5x–7x upside, which is exactly why XRP holders are glued to this vote.

The levels that matter

For your XRP price prediction watchlist, keep these on the radar:

• Immediate support: $1.05, then the all-important $1.00 psychological floor.
• If $1 breaks: the $0.90 zone comes into play, with little technical support beneath.
• Upside reclaim: XRP needs to break back above the descending trendline and flip $1.15 into support to even begin repairing the structure. Above that, $1.20 and $1.30 are the next hurdles.

XRP Price Prediction: Will XRP Crash Below 1$?

XRP's crash to $1 isn't a Ripple problem — it's a Bitcoin problem, amplified by XRP's tendency to fall nearly twice as hard on every BTC drop. The daily chart is firmly bearish, the descending trendline is still in control, and the $1.00 line is the last meaningful support before things get really thin.

But the setup is a coiled spring. With whales accumulating, shorts dangerously crowded, and the CLARITY Act floor vote looming as a binary catalyst, XRP could see an explosive move in either direction. For now, respect the downtrend — but don't be surprised if a single headline flips this chart violently.

Bitcoin Crash Sends BTC Below $60K

Bitcoin is back under pressure after falling below the key $60,000 level, triggering a fresh wave of fear across the crypto market. The move came as major cryptocurrencies turned red, with Ethereum slipping below $1,600 and several top altcoins posting sharp daily losses.

This is no longer just a normal pullback. Bitcoin has now broken one of the most important psychological levels in the market, and traders are asking whether BTC could be heading toward $55,000 next.

The crash also comes at a dangerous time for crypto sentiment. Recent articles and market reactions already focused on the broader sell-off across stocks, crypto, and metals. But the latest move adds another layer of pressure: Strategy, formerly MicroStrategy, is now becoming one of the biggest fear points in the Bitcoin market.

Why This Bitcoin Crash Feels Different

Bitcoin has corrected many times before. What makes this drop more sensitive is the combination of three factors happening at once.

First, BTC has lost the $60,000 level, which many traders were watching as a key short-term support zone. Once this level broke, selling pressure accelerated quickly.

Second, Ethereum also dropped below $1,600, confirming that the weakness is not limited to Bitcoin. The broader crypto market is bleeding, with major coins such as BNB, XRP, Solana, Dogecoin, Zcash, Chainlink, and others also trading in the red.

Third, Strategy’s stock is crashing alongside Bitcoin. That matters because Strategy is not just another crypto-related stock. It is the biggest corporate Bitcoin holder in the world, and its entire market story has become deeply tied to BTC.

When Bitcoin falls and MSTR falls at the same time, investors start asking a much bigger question: is the Bitcoin treasury trade now becoming a risk instead of a strength?

Strategy’s Bitcoin Losses Are Now the Market’s Big Fear

Strategy currently holds around 847,363 BTC, acquired at an average price of roughly $75,651 per Bitcoin. That puts the company’s total Bitcoin acquisition cost at around $64.1 billion.

With Bitcoin trading near $59,300, Strategy’s Bitcoin stack is worth roughly $50.2 billion. That means the company is sitting on an estimated paper loss of about $13.9 billion compared with its acquisition cost.

If Bitcoin falls to $55,000, the value of Strategy’s BTC holdings would drop to around $46.6 billion. In that scenario, the estimated paper loss would widen to nearly $17.5 billion.

That does not mean Strategy has lost this money in cash. These are unrealized losses unless the company sells Bitcoin. But the market does not always wait for realized losses. It prices fear, pressure, and risk before the actual event happens.

This is why MSTR is now becoming such a central part of the Bitcoin crash story.

Are Strategy’s Losses Real or Just Paper Losses?

For investors, the answer is both.

On one side, Strategy’s Bitcoin losses are mostly paper losses as long as the company continues holding its BTC. If it does not sell, there is no direct realized loss from selling coins at a lower price.

But accounting-wise, the situation is more complicated. Under the newer fair-value accounting rules for crypto assets, changes in the value of Bitcoin can affect reported earnings. That means a major Bitcoin decline can show up as a fair-value loss on the income statement, even if the company does not sell the coins.

So the market is not only watching whether Strategy sells Bitcoin. It is also watching how the decline affects its balance sheet, its stock price, its ability to raise money, and investor confidence in the entire Bitcoin treasury model.

Could Strategy Be Forced to Sell Bitcoin?

There is no evidence that Strategy is being forced to sell Bitcoin right now. That is important.

The danger is not that forced selling is confirmed. The danger is that the fear of forced selling starts to dominate the market.

Strategy built its Bitcoin strategy by using capital markets, including stock issuance, convertible debt, and preferred shares. That model works best when MSTR trades at a strong premium and investors are willing to finance more Bitcoin accumulation.

But when BTC falls and MSTR crashes, that model becomes more fragile. If the stock keeps dropping, raising new capital becomes harder. If raising capital becomes harder, investors may start worrying about dilution, debt pressure, dividend obligations, or even the possibility that Strategy may eventually need to sell Bitcoin to manage obligations.

Again, this does not mean a sale is happening now. But markets often sell first and ask questions later.

That is why Strategy’s stock crash matters so much for Bitcoin. MSTR has become a leveraged symbol of Bitcoin confidence. If that confidence breaks, it can increase panic across the entire crypto market.

Bitcoin Price Prediction: Is $55K Next?

The key level now is $60,000.

If Bitcoin fails to reclaim $60,000 quickly, the bearish scenario becomes stronger. In that case, BTC could continue sliding toward the next major support zone around $55,000.

A move to $55,000 would not be surprising if panic continues across crypto and if MSTR remains under pressure. It would also represent a deeper reset of the Bitcoin rally, forcing traders to question whether the market is entering a longer correction phase.

The bearish path looks like this:

Bitcoin fails to recover $60,000, sellers defend the $60,000 to $62,000 zone, MSTR continues falling, and market fear pushes BTC toward $55,000.

However, the bullish case is not dead yet.

If Bitcoin quickly reclaims $60,000 and then moves back above $62,000, the crash could turn into a sharp bear trap. In that case, traders may see the drop as panic selling rather than the start of a deeper collapse.

For now, BTC needs to recover $60,000 first. Without that, the $55,000 target becomes the main level to watch.

Is This the End of the Crypto Era?

No, this does not look like the end of crypto. But it may be the end of the easy crypto leverage era.

The last cycle was driven by ETF optimism, institutional buying, treasury companies, corporate Bitcoin accumulation, and the idea that Bitcoin could keep rising as long as new capital kept flowing in.

Now the market is testing that idea.

If Strategy, the most famous Bitcoin treasury company, is sitting on massive paper losses while its stock crashes, investors may become more cautious toward every company trying to copy the same model.

That does not kill Bitcoin. But it does change the market narrative.

Bitcoin is no longer only trading on ETF flows, macro news, or halving-cycle expectations. It is now also trading on whether the biggest corporate BTC holder can survive a major drawdown without triggering more fear.

What Happens Next?

The next few days are critical.

If Bitcoin stabilizes above $60,000, the market may calm down and treat this crash as a painful but temporary correction. If BTC loses momentum and fails to recover, $55,000 becomes the next major downside target.

The Strategy situation will also be important. If MSTR stabilizes, it could reduce panic around the Bitcoin treasury trade. But if MSTR continues crashing, Bitcoin may face even more pressure as investors start questioning whether corporate BTC accumulation has turned from a bullish narrative into a systemic market risk.

For now, the Bitcoin price prediction is simple: BTC must reclaim $60,000 to avoid a deeper drop. If it fails, $55,000 could be next.

Strategy’s flagship preferred stock tumbled again when U.S. markets opened, setting another record low as Bitcoin lingered below $60,000.

Bitcoin fell to around $59,400 as $691 million fled spot ETFs, the most since May, ahead of Friday's $10.6 billion options expiry.

Bitcoin sinks to a fresh 2026 low as the selloff drags on. Kraken makes a major move into DeFi. And BlackBerry is staging a comeback.

The newly public crypto custodian is slashing nearly 15% of its workforce as it pivots to focus on stablecoins and AI infrastructure.

Anthropic alleged that Alibaba-affiliated operators used nearly 25,000 fraudulent accounts to generate 28.8 million Claude exchanges.

Elon Musk officially teases X Money with Visa cards, but Dogecoin is missing.

XRP risks further decline as crucial support forms around $1.06 at a time when the broader crypto market faces extreme volatility.

Four cryptocurrencies set to be delisted on the Binance exchange in the coming days.

XRP on-chain data targets $0.51, a dormant whale moves $2.5 million in SHIB, Singapore flags Hyperliquid, and Bitcoin hits $58,000 amid $900 million in liquidations.

The market is finally recovering, but the general outcome of this mini-cycle is yet to be determined.

TLDR:

• Securitize expects about $400 million in gross proceeds after fewer than 30% of SPAC shares were redeemed.
• The proposed business combination is expected to close on July 1 after shareholder approval on June 29.
• Securitize Corp. is scheduled to begin trading on the NYSE under the ticker SECZ on July 2, 2026.
• Securitize currently tokenizes more than $4 billion in real-world assets across its investment platform.

Securitize SPAC Deal is moving toward completion after the company confirmed its proposed business combination with Cantor Equity Partners II is expected to raise approximately $400 million in gross proceeds.

Fewer than 30% of CEPT Class A shareholders redeemed their shares, allowing most trust proceeds to remain available.

Subject to shareholder approval on June 29 and customary closing conditions, the transaction is expected to close on July 1, with the combined company targeting a New York Stock Exchange listing on July 2 under the ticker SECZ.

Securitize SPAC Deal Secures $400 Million Before Public Listing

Securitize and Cantor Equity Partners II announced the final redemption results on June 26 through an official company statement.

Less than 30% of CEPT Class A shareholders elected to redeem their shares before the proposed business combination.

The redemption outcome means Securitize expects to receive approximately $400 million in gross proceeds. The amount includes related PIPE financings but excludes all transaction-related expenses.

The companies also confirmed that 71.5% of the CEPT trust was retained. The proposed business combination remains subject to shareholder approval during the special meeting scheduled for June 29.

If shareholders approve the transaction and the remaining conditions are satisfied or waived, the companies expect to complete the merger on July 1.

The combined entity is then expected to begin trading on the New York Stock Exchange under the ticker SECZ on July 2.

CEO Discusses Public Market Plans as Tokenization Business Grows

Following the completion of the transaction, the combined company will operate as Securitize Corp. The company currently tokenizes more than $4 billion in real-world assets across its platform.

Commenting on the upcoming listing, Securitize Co-Founder and Chief Executive Officer Carlos Domingo said, “Reaching the public markets is a milestone for Securitize and a reflection of the growing momentum behind tokenization.”

He added that the company began more than eight years ago when institutional adoption of tokenized securities remained largely theoretical.

Domingo continued, “Today, tokenization is moving into the mainstream, and we believe becoming a public company gives us the visibility, credibility, and capital to lead that next phase of growth.” The remarks accompanied the company’s announcement of the expected closing timeline.

The company confirmed that the planned schedule remains unchanged following the redemption results. Subject to shareholder approval on June 29, Securitize expects to complete the business combination on July 1 before its shares begin trading on the NYSE under the SECZ ticker on July 2.

The post Securitize SPAC Deal Secures $400M Ahead of Planned NYSE Debut appeared first on Blockonomi.

Key Highlights

• Johnson & Johnson reached a record price of $251.76 on June 26, 2026, delivering a 65.12% total return over 12 months
• Guggenheim elevated its target from $266 to $270 while maintaining a Buy rating, designating JNJ as a leading large-cap biopharma selection
• Second-quarter 2026 results expected July 15; Guggenheim projects $25.48B revenue and $2.87 EPS, surpassing consensus estimates
• Robust prescription performance for Tremfya, Caplyta, and Erleada supported the upgraded outlook
• Company faces $32 million verdict in Los Angeles talc-related mesothelioma lawsuit

Shares of Johnson & Johnson climbed to an unprecedented $251.76 on Thursday, June 26, before settling near $251.18 — marking just a 0.97% decline from that record level. This performance brings the pharmaceutical giant’s trailing 12-month total return to 65.12%, with its market valuation standing at $604.8 billion.

Johnson & Johnson, JNJ

The surge coincided with Guggenheim’s announcement raising its valuation target on JNJ to $270 from the previous $266, while reaffirming its Buy recommendation. The investment firm simultaneously highlighted JNJ as a premier choice within the large-capitalization biopharmaceutical sector.

Guggenheim’s forecast for the second quarter of 2026 anticipates revenues reaching $25.48 billion alongside earnings per share of $2.87. These projections exceed the prevailing Street consensus, which calls for $24.96 billion in sales and $2.85 per-share profit.

Catalysts Behind the Optimistic Outlook

The enhanced valuation stems from prescription velocity data that exceeded expectations across three important medications: Tremfya, Caplyta, and Erleada. Performance metrics for each surpassed Guggenheim’s proprietary forecasts.

Analysts noted that prescription tracking for two recently introduced therapies — Icotyde and Inlexzo — remains too preliminary for meaningful incorporation into models. These products will receive heightened scrutiny as data sets become more comprehensive.

Guggenheim anticipates the July 15 earnings discussion will emphasize Tremfya’s volume expansion, the commercial rollout of Icotyde, the company’s multiple myeloma pipeline, alongside updates on Caplyta and Spravato.

JNJ boasts an impressive 55-year streak of annual dividend increases, solidifying its appeal among yield-oriented portfolio managers.

Corporate Initiatives and Challenges

Beyond market performance, JNJ unveiled plans to invest over $1 billion in its Jacksonville, Florida facilities. These funds will support enhanced manufacturing, packaging, and logistics infrastructure for the Vision segment, particularly ACUVUE contact lens production.

The organization also broadened domestic distribution of its TECNIS PureSee intraocular lens, designed for cataract procedures. On the research front, JNJ disclosed encouraging Phase 2/3 data for Imaavy in treating warm autoimmune hemolytic anemia patients.

However, legal headwinds persist. A jury in Los Angeles determined JNJ bore responsibility in Maria Lozano’s mesothelioma case, resulting in a $32 million judgment for her family. The verdict relates to asbestos contamination allegations in the company’s baby powder products — a prolonged litigation concern.

InvestingPro’s current assessment suggests the shares may be trading at a premium relative to fundamental metrics, despite the compelling upward momentum.

The post Johnson & Johnson (JNJ) Stock Reaches New Peak on Analyst Upgrade and Strong Drug Performance appeared first on Blockonomi.

TLDR:

• Adam Livingston’s MSTR stress test models a 55% BTC crash to $26,611 with capital markets fully closed.
• CEBE collapses from 138,161 sats per share to just 7,884 sats as senior claims balloon to 819,073 BTC.
• Cash runs dry by month nine, forcing Strategy to sell 115,727 BTC to service its senior debt stack.
• MSTR survives with 731,636 BTC remaining and mNAV recovering to 1.40x at the end of year three.

A three-year MSTR stress test by analyst Adam Livingston has found that Strategy can survive a 55% Bitcoin crash without entering a death spiral.

The model assumes BTC falls to $26,611 by month six, capital markets close entirely, and the company is forced to sell Bitcoin to service senior debt.

While survival is the conclusion, common shareholders face a brutal compression in Bitcoin exposure per share over the modeled period.

Senior Claims Balloon as Bitcoin Collapses, Crushing CEBE

The MSTR stress test starts with the company holding 847,363 BTC, carrying $1.4 billion in cash, a CEBE of 138,161 satoshis per share, and a claim ratio of 41.5%.

From that position, Livingston’s model drives Bitcoin down to $26,611 within the first six months, triggering a chain reaction across the balance sheet.

The mechanics work against common shareholders quickly. Fixed-dollar senior claims explode in Bitcoin terms as collateral prices fall, rising from 351,567 BTC to 819,073 BTC. That expansion in senior claims directly compresses what is left for common equity holders.

The claim ratio spikes from 41.5% to 96.7%, while common equity BTC collapses from 495,796 BTC to 28,290 BTC. CEBE, the metric tracking Bitcoin exposure per common share after senior obligations, falls from 138,161 satoshis to just 7,884 satoshis. The modeled MSTR share price reaches $1.01.

Livingston noted the stock may not actually trade that low in a real downturn. He referenced 2022, when MSTR carried negative common equity sats exposure exceeding 14,000 sats per share yet the stock never dropped below $10. Still, the model captures the structural damage rather than the market sentiment.

The core takeaway from this phase of the MSTR stress test is that fixed-dollar debt behaves like inverse leverage during a Bitcoin price decline.

As BTC falls, senior claims consume an increasingly large share of the total Bitcoin stack in BTC-equivalent terms, leaving common shareholders holding a fraction of what they started with.

Forced BTC Sales Begin at Month Nine but Leave 731,636 BTC Intact

The model applies strict assumptions throughout: no new Bitcoin purchases, no common equity issuance, and monthly obligations fixed at $167.7 million.

Under those conditions, cash reserves are exhausted by month nine, and Strategy must begin selling Bitcoin to meet senior debt payments.

Over the full three-year period, the model requires MSTR to sell 115,727 BTC to continue servicing the senior stack. That represents a material reduction from the starting position of 847,363 BTC, though the company is not forced to liquidate its holdings entirely.

The terminal state of the MSTR stress test reflects a company that has absorbed severe damage but remains operational.

The model ends with Bitcoin at $48,498, MSTR at $51.86, mNAV at 1.40x, common equity BTC at 274,093, CEBE at 76,380 sats per share, and a claim ratio of 62.5%. Strategy still holds 731,636 BTC at the close of the three-year window.

Livingston identified the primary risk as CEBE compression rather than instant bankruptcy, arguing that narratives around a sudden death spiral overstate the danger given Strategy’s retained Bitcoin position even after forced sales.

The MSTR stress test draws a firm line between two separate risks. Near-term structural collapse is not the scenario the model produces.

What it does produce is an extended period of pain for common shareholders, with CEBE absorbing the largest losses as senior claims expand in BTC terms during the crash before recovering once Bitcoin stabilizes above the debt floor.

The post MSTR Stress Test: No Death Spiral, but Bitcoin Per Share Faces Catastrophic Collapse appeared first on Blockonomi.

TLDR

• Raoul Pal says the crypto cycle remains mid-phase, not at a peak or end.
• He links recent crypto weakness to negative excess liquidity across global markets.
• Capital rotated into AI sectors as liquidity tightened, according to Pal.
• He states excess liquidity has now turned positive across M2 and broader measures.
• Bitcoin trades near oversold levels on long-term regression models.

Raoul Pal, CEO of Real Vision and former Goldman Sachs executive, said crypto markets face a liquidity-driven downturn. He argued that the crypto cycle remains intact despite recent price weakness. He also stated that improving global liquidity conditions support renewed capital inflows into digital assets.

Liquidity Shift Defines Crypto Cycle Position

Pal said crypto markets declined due to reduced excess liquidity across global markets. He explained that capital moved toward artificial intelligence sectors during that period.

He added, “if there’s no excess liquidity, it will find its home in the most compounding place.”

He stated that excess liquidity has now turned positive across M2 and broader monetary measures. Therefore, he expects capital to rotate back into crypto assets.

He said, “We’ve got excess liquidity, and this helps us,” pointing to improving investment conditions.

Pal described the current phase as mid-cycle rather than a cycle peak. He used Bitcoin’s log regression channel to support this position. He said the asset trades near 1.5 standard deviations below fair value, indicating oversold conditions.

He referenced historical patterns where similar levels marked accumulation zones. He noted that past cycles showed recovery after similar technical signals. Therefore, he believes the current positioning reflects early recovery stages.

Bitcoin, Ethereum, and SUI Show Oversold Signals

Pal pointed to Bitcoin trading near the lower bands of its long-term regression model. He said the Rainbow Chart places Bitcoin below its lowest sentiment zone. According to data, Bitcoin traded near $59,500 on June 26.

He explained that prior cycles in 2015, 2018, and 2022 reached similar levels before rebounds. He stated that prices returned to higher bands within 12 to 18 months. However, he noted the model does not predict exact timing.

He also highlighted Ethereum’s monthly DeMark indicators showing a reversal setup. He said SUI trades around 1.8 standard deviations below its trend channel.

He concluded, “The risk-reward on an adjusted basis is extremely high.”

Pal contrasted crypto with semiconductor stocks, which he said appear overbought. He estimated the semiconductor trade at around 3.8 standard deviations above trend. Therefore, he views crypto as undervalued relative to those assets.

Layer One Assets Positioned for Rotation

Pal confirmed his continued focus on Ethereum, Solana, and SUI. He stated that these networks serve as coordination layers for digital economies. He added that artificial intelligence systems will rely on blockchain infrastructure.

He said, “AI and crypto are married at the hip,” describing their functional relationship. He explained that AI agents require programmable transaction layers to operate efficiently. Therefore, he sees blockchain as essential to AI development.

Pal compared potential upside between crypto and technology equities. He said NVIDIA may face limited growth from current levels. However, he stated Ethereum and Solana still offer expansion potential.

He also discussed portfolio adjustments based on valuation differences. He said he reduced exposure to high-growth equities and semiconductors. He shifted capital toward undervalued layer one assets.

Global Liquidity and Dollar Trends Remain Key Drivers

Pal identified global liquidity as the main driver of crypto price movements. He said Bitcoin maintains an 85% to 87% correlation with global liquidity trends. He added that liquidity has increased since 2022.

He explained that a strong US dollar currently limits liquidity expansion. He expects interest rates to decline, which could weaken the dollar.

He said, “The dollar’s too strong, and I think that changes.”

Pal stated that lower rates could increase available capital across markets. He expects this shift to support crypto asset demand. He also said improving liquidity conditions may drive the next phase of the crypto cycle.

He concluded that asset leadership may rotate during the next market phase. He stated that current leaders may lose dominance as conditions change. He said he continues accumulating positions based on long-term frameworks.

The post Ex-Goldman Sachs Exec Says Crypto Cycle Remains Mid-Phase appeared first on Blockonomi.

TLDR

• New reports indicate OpenAI could postpone its public market debut until 2027, creating uncertainty for technology equities and AI sector investments.
• Semiconductor manufacturers faced selling pressure as escalating memory component prices impact device producers, particularly after Apple’s recent product price increases.
• The tech-heavy Nasdaq experienced intraday volatility with a 1% decline before stabilizing, while the Dow and S&P 500 managed modest gains.
• The University of Michigan’s consumer confidence gauge climbed to 49.5 in June from the prior month’s 44.8, despite persistent concerns about elevated costs.
• Crude oil prices tumbled approximately 3%, with Brent settling near $73 per barrel as geopolitical tensions in key shipping routes continue.

Friday’s trading session proved turbulent for American equity markets. The technology-focused Nasdaq experienced significant intraday swings, declining as much as 1% before managing to recover most losses by the close. The S&P 500 managed a slim 0.1% advance, while the Dow Jones Industrial Average also posted marginal gains following earlier weakness.

The broader weekly picture remained challenging for major indices. Leading into Friday’s session, both the Nasdaq and S&P 500 had registered consecutive daily losses for four trading days.

OpenAI’s Public Offering Timeline Faces Extension

According to a New York Times investigation, OpenAI is exploring the possibility of postponing its highly anticipated initial public offering to 2027. This development created headwinds for technology equities and cooled investor excitement surrounding artificial intelligence opportunities.

The AI investment theme had already shown signs of weakening momentum. Market participants are increasingly pricing in the possibility of Federal Reserve interest rate increases in 2024, a scenario that typically pressures valuation-sensitive growth stocks.

A recently released Personal Consumption Expenditures report — the central bank’s favored inflation gauge — showed stronger-than-anticipated price pressures for May. This data reinforced speculation about potential monetary policy tightening.

Semiconductor Sector Faces Cost Headwinds

Memory chip manufacturer Micron delivered robust quarterly results, yet the figures highlighted persistent cost inflation throughout the industry. Apple’s decision to implement price increases on MacBook and iPad products has been attributed by market analysts to surging memory and storage component expenses.

This development sparked broader concerns throughout the semiconductor ecosystem. Market observers fear that elevated component pricing could squeeze margins for hardware manufacturers and create negative cascading effects across technology supply chains.

Chip-related equities were among Friday’s worst performers, exerting significant downward pressure on the Nasdaq composite.

Consumer Confidence Shows Modest Improvement

The University of Michigan’s preliminary June consumer sentiment reading advanced to 49.5 from May’s 44.8 level. Meanwhile, consumer expectations for inflation over the next twelve months eased to 4.6% from the previous 4.8%.

Survey director Joanne Hsu emphasized that price pressures continue dominating consumer mindsets. “For the third consecutive month, more than half of survey respondents volunteered that elevated prices are negatively impacting their household finances,” she observed.

The economic data helped equity benchmarks regain some lost ground during Friday’s session. The Dow advanced 83 points, representing a 0.2% gain, following the report’s release.

Crude Oil Retreats on Middle East Shipping Developments

Petroleum prices experienced sharp declines of approximately 3% during Friday’s trading. Brent crude settled around $73 per barrel, while West Texas Intermediate fell beneath the $70 threshold.

The United States and Iran have reached agreement on a 60-day cessation of hostilities. Shipping vessels maintained regular passage through the Strait of Hormuz following a recent incident involving a commercial container vessel. Iranian officials are reportedly exploring the implementation of transit fees for vessels navigating the strategic waterway.

Government bond yields and the U.S. dollar both weakened following the PCE inflation data release, as concerns about uncontrolled price growth moderated somewhat as the weekend approached.

The post OpenAI IPO Postponement to 2027 Sends Ripples Through Tech Markets appeared first on Blockonomi.

Although there are still some days left in June, the month has turned out to be one of the worst for the entire cryptocurrency market in recent history.

Before we explore what took place in the past week alone, let’s rewind the clocks to last Friday when the most significant news came from the new Fed Chair Kevin Warsh, who continued Powell’s policy of maintaining the interest rates unchanged and had a hawkish conference after the FOMC meeting. In addition, the promised deal between the US and Iran failed as both parties have yet to reach a permanent agreement.

Bitcoin reacted with a nosedive from $67,200 to $63,000. Although the bulls managed to defend that level and even push the cryptocurrency to $65,500 on Monday, the real trouble was just ahead.

BTC was quickly and violently rejected there and dropped by over three grand in hours. Its recovery attempt was halted at $63,000, and the bears initiated another leg down on Wednesday, taking the asset south to $59,000, which became a new multi-year low. Bitcoin reacted well at first and quickly rebounded to $62,000, but that turned out to be a dead-cat bounce.

The bears were even more persistent during the next phase of the correction, driving the asset down to $58,000 for the first time since October 2024. That support level has held for now, and BTC has recovered some ground, but still remains below $60,000 as the overall market uncertainty continues. This is particularly true for Michael Saylor’s Strategy, but more on that a bit later.

The weekly chart below will paint a clear picture, as red dominates almost all charts. BTC is down over 5%, while ETH and XRP have bled 8.5% and HYPE 7%. DOGE, ZEC, ADA, and XLM have plummeted by double digits. The only notable exceptions are RAIN (8%) and AAVE (20.5%) in the green. The total crypto market cap is down by over $120 billion weekly.

Market Data

Market Cap: $2.14T | 24H Vol: $99B | BTC Dominance: 55.6%

BTC: $59,555 (-5.1%) | ETH: $1,560 (-8.5%) | XRP: $1.04 (-8.5%)

This Week’s Crypto Headlines You Can’t Miss

Saylor Should Stop Buying Bitcoin, Says CryptoQuant. As mentioned above, Strategy continues to be the main talk in crypto, with CQ urging the firm to halt its BTC buying spree in favor of rebuilding its USD reserve. The company indeed followed a similar philosophy over the past week, buying just $35 million in BTC while increasing its USD reserve by $300 million.

MSTR’s Bitcoin Per Share Gets ‘Annihilated’ in Extreme Bear Case: Analyst. Meanwhile, a popular analyst outlined the massive risks to Strategy and its stock price if BTC’s bear market extends, including a worst-case scenario for MSTR of a drop to $1. Separately, KALEO warned last week that the firm might have to sell over 50,000 BTC in the next couple of years.

Polymarket to Refund Users After Hackers Steal $3M in Frontend Attack. The team behind the popular platform confirmed on Friday that a compromised third-party vendor allowed attackers to inject malicious code into its frontend, draining $3 million from a handful of users. It promised to fully reimburse the affected customers.

Hyperliquid Responds After Appearing on Singapore’s Investor Alert List. The Monetary Authority of Singapore (MAS) added Hyperliquid to its Investor Alert List (IAL), raising concerns within the industry. However, the exchange claimed that this doesn’t necessarily constitute a regulatory violation, an enforcement action, or a ban.

Bitcoin Miners Flood Binance as Exchange Inflows Hit Four-Month High. On-chain data shared by CryptoQuant showed that BTC miners had sent massive portions of their bitcoin holdings to some exchanges, including Binance. This coincided with the asset’s violent price drop.

Bitcoin Didn’t Lose to Gold, the Rotation Story Is Wrong: Analyst. Although both assets have turned red in 2026, gold continues to take the recent market-wide correction better. However, analyst Shanaka Anslem Perera believes the rotation story from BTC to the precious metal is actually wrong.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

The post Crypto Markets Erase $120B as Bitcoin Tanks to $58K Amid Growing Strategy FUD: Weekly Recap appeared first on CryptoPotato.

Hyperliquid has been added to the Investor Alert List (IAL) maintained by the Monetary Authority of Singapore (MAS). The perpetual futures platform clarified that the listing does not represent a regulatory violation, enforcement action, or ban.

In a statement shared on X, Hyperliquid said that inclusion on the IAL should not be interpreted as evidence of wrongdoing while adding that the list is intended to identify entities that may be incorrectly viewed as being licensed, authorized, or regulated by MAS.

MAS Investor Alert List

Hyperliquid noted that several major crypto exchanges and decentralized finance protocols have also appeared on the list in the past. According to MAS, the Investor Alert List contains names of entities that, based on information available to the regulator, may have been wrongly perceived as being licensed or otherwise regulated by the central bank.

The regulator also stated that the list may include entities offering investments or investment-related products that could be mistakenly viewed as being authorized, recognized, registered, or accompanied by documents lodged with MAS.

Responding to the development, Hyperliquid asserted that it is a permissionless infrastructure and has never claimed to be licensed or authorized by MAS and that users should not regard the platform as holding such approval. The platform added that users continue to maintain self-custody of their assets and that transactions on the network remain transparent and fully settled on-chain.

“The Hyperliquid ecosystem remains committed to engaging collaboratively and constructively with regulators and institutions globally and to supporting clear, well-designed frameworks for onchain finance.”

The MAS had also placed Bybit Fintech Limited on its Investor Alert List earlier this month. In response, Bybit said it has maintained regular and constructive engagement with MAS and has implemented measures to restrict access for users in Singapore. The exchange said these measures include restrictions in its terms of service and geo-blocking of Singapore IP addresses.

HYPE Cools but ETF Interest Accelerates

Hyperliquid’s native token, HYPE, showed little reaction following the development. HYPE traded largely around $62 over the past 24 hours. The token had previously rallied above $75 in mid-June before retreating amid broader market volatility.

Meanwhile, institutional demand for the token appeared to remain strong. Data from SoSoValue revealed that US spot HYPE ETFs recorded more than $108 million in net inflows on June 25, which is the largest single-day inflow since the products launched last month. The inflows came after five trading days in June that recorded no net flows.

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XRP remains under sustained selling pressure, with the broader trend continuing to favor the sellers. The USDT chart shows the price on the verge of breaking a major support area after another leg lower, while the XRP/BTC pair has also slipped back toward a key floor, highlighting the token’s ongoing weakness against Bitcoin.

Ripple Price Analysis: The USDT Pair

On the USDT pair, XRP has extended its long-term downtrend while respecting a descending channel that has capped the price action for several months. The asset is currently trading around $1.04 after almost losing the key $1.10 support zone, which has now turned into immediate resistance.

The asset also remains below the 100-day and 200-day moving averages, with the 100-day sitting near $1.25 and the 200-day around $1.5. Both averages continue to slope downward, reinforcing the bearish market structure. Meanwhile, the upper boundary of the descending channel is converging with these moving averages, creating a strong resistance cluster that buyers would need to reclaim before any meaningful trend reversal could be considered.

On the downside, the current support zone around $1.00 is being tested. A confirmed breakdown below this area could expose the next major demand region around $0.60. Momentum also continues to deteriorate, with the RSI falling toward the oversold territory, which suggests bearish pressure remains dominant even though short-term relief bounces cannot be ruled out.

As long as XRP remains below the descending channel resistance and the major moving averages, the broader market structure continues to favor sellers despite the recent stabilization.

The BTC Pair

Against Bitcoin, XRP is also trading inside a well-defined descending channel. This shows persistent relative weakness throughout the past several months. The pair is currently trading around 1,720 sats while sitting directly on a horizontal support level that has repeatedly attracted buyers since May.

However, the broader technical picture remains bearish. The price is trading below both the 100-day and 200-day moving averages, which are located around 1,850 sats and 2,000 sats, respectively, while both averages continue to trend lower. As a result, any recovery attempt is likely to encounter heavy resistance around the 1,850 to 2,000 sats region, followed by the upper boundary of the descending channel.

If the current support at roughly 1,700 sats fails to hold, sellers could target the lower boundary of the channel near the 1,500 sats area. Conversely, defending this level could allow for another short-term rebound toward the channel resistance, although the overall structure would remain bearish unless XRP manages to reclaim the major moving averages and establish higher highs.

The post Ripple Price Analysis: How Likely Is a Crash to $0.60 as XRP Tests $1 Support? appeared first on CryptoPotato.

Ethereum remains under heavy selling pressure after another rejection at a key resistance level, with the latest decline pushing the asset back toward a major demand zone. While buyers are attempting to stabilize the price around support, the broader trend remains firmly bearish as ETH continues to trade below all major moving averages.

Ethereum Price Analysis: The Daily Chart

On the daily timeframe, Ethereum continues to print lower highs and lower lows while trading beneath the 100-day, 200-day, and long-term descending trendline, confirming that sellers remain in full control of the broader structure.

The recent recovery stalled precisely below the $1.72K to $1.78K supply zone before bearish momentum resumed. That rejection has now driven ETH back into the key support region around $1.46K to $1.56K, where buyers are once again attempting to defend the market.

This support zone has produced another reaction, but so far the rebound remains weak and has failed to alter the overall bearish structure. As long as Ethereum remains below the $1.72K to $1.78K resistance area, rallies are likely to be viewed as corrective rather than the beginning of a trend reversal.

A decisive loss of the current demand zone would expose the market to another leg lower, while reclaiming the nearby resistance would be the first indication that bearish momentum is beginning to fade.

ETH/USDT 4-Hour Chart

The 4-hour chart highlights the recent rejection at the $1.72K to $1.78K resistance zone, triggering another sharp decline toward the lower boundary of the established range.

Following that sell-off, ETH has bounced modestly from the $1.50K to $1.53K support area, suggesting buyers remain active around this demand zone. However, the asset continues to trade near the bottom of the broader consolidation range, while every recovery attempt has so far produced another lower high.

The current structure suggests Ethereum may continue consolidating between approximately $1.52K and $1.75K in the near term. The lower boundary remains the critical level to watch, as another breakdown below support could accelerate bearish momentum, whereas reclaiming the upper resistance would improve the short-term outlook and open the door for a stronger recovery.

Sentiment Analysis

The Exchange Netflow chart shows a notable increase in ETH moving onto exchanges over the most recent sessions, with the 14-day moving average of netflows turning sharply positive.

Historically, sustained positive exchange netflows indicate that more coins are being transferred to trading venues, often reflecting rising selling pressure or a greater willingness among holders to distribute their assets. This shift has coincided with Ethereum’s latest decline toward the $1.5K area.

Although exchange inflows alone do not guarantee additional downside, the recent surge suggests that supply entering exchanges remains elevated. Unless netflows begin to moderate while price stabilizes around the current demand zone, the on-chain data continues to favor a cautious outlook and supports the possibility of continued weakness before a more durable recovery can develop.

The post Any ETH Rebound Remains Corrective Below This Key Level: Ethereum Price Analysis appeared first on CryptoPotato.

Bitcoin remains under pressure despite another strong reaction from the $58K to $60K demand zone. Although buyers once again stepped in after sweeping the recent lows, the recovery has so far been limited, with the price continuing to trade below key resistance levels.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, Bitcoin continues to trade below both the 100-day moving average around $72K and the 200-day moving average near $76K, keeping the broader market structure bearish.

The most recent development is another successful defense of the $59K to $60K support zone. The asset briefly swept below the previous swing low before rebounding back into the range, suggesting that liquidity beneath support has been collected for now.

However, despite the bounce, Bitcoin remains trapped beneath the first supply zone between $65K and $68K. As long as this area caps the recovery, buyers remain on the defensive and the broader downtrend stays intact.

The recent liquidity sweep has improved the short-term picture, but Bitcoin still needs to reclaim the $65K to $68K resistance region to confirm that a more meaningful recovery is underway.

BTC/USDT 4-Hour Chart

The 4-hour chart shows that Bitcoin initially broke below the major support around $59K before quickly reversing higher, forming what appears to be a liquidity sweep beneath the previous lows.

Following that recovery, the price rallied toward the newly formed resistance zone around $61K to $62K but failed to establish a sustained breakout. Sellers defended the area and pushed Bitcoin back toward the $60K region, keeping the short-term sequence of lower highs intact.

For now, the immediate resistance remains at $61K to $62K, while the broader supply zone between $65K and $68K continues to represent the primary upside obstacle.

As long as Bitcoin holds above the $59K to $60K demand zone, another recovery attempt remains possible. However, failure to reclaim nearby resistance would leave the market vulnerable to another retest of support.

Sentiment Analysis

The Coinbase Premium Gap continues to trend deeply negative, indicating that buying activity from U.S. investors remains subdued despite Bitcoin revisiting a major support zone.

Although Bitcoin recently recovered after sweeping liquidity below $59K, the premium has not shown a meaningful improvement and continues to print negative readings. This suggests that the latest rebound has not been accompanied by strong spot demand from Coinbase participants, who are often viewed as a proxy for U.S. institutional investors.

As a result, the on-chain data remains cautious. While the recent liquidity sweep may support additional short-term relief, a sustained recovery will likely require the Coinbase Premium Gap to stabilize and begin moving back toward neutral territory, signaling renewed institutional accumulation.

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