On June 23, it was reported that the cryptocurrency market slightly rebounded, with Bitcoin briefly falling below the $0.1 million mark on Sunday. As of the time of this report,$Bitcoin (BTC.CC)$ it increased by 1.03%, reaching $102,020.12; $Ethereum (ETH.CC)$ it increased by 1.53%, reaching $2,268.00.
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Michael Saylor has released the Bitcoin Tracker information again, and may disclose the Shareholding data next week.
Michael Saylor, the Executive Chairman of Strategy (formerly MicroStrategy), has once again released information related to the Bitcoin Tracker. He stated that nothing can stop this orange. According to previous patterns, Strategy always discloses information about increasing Bitcoin holdings the day after related news is released.
Analysis: Bitcoin's dominance in the market has soared, but two major Indicators are signaling a bearish market warning.
10x Research published an analysis on platform X, stating that although Bitcoin's market dominance has risen to a new cycle high, two key Indicators have begun to show early signs of broader market pressure. Ethereum, which previously soared due to ETF optimism, is now struggling under the weight of over-leveraged Futures positions. At the same time, liquidity, which often acts as the invisible driving force behind each rebound (market-based), is quietly drying up, and the often-overlooked flow of Stablecoin funds is also presenting a clearer trend as summer approaches. Some major buyers in the market are withdrawing, and key technical levels are being tested. Bitcoin and Ethereum are experiencing corrections as expected, both emitting signals shifting from Bullish to Put. The risk of Ethereum breaking below $2420, highlighted in the previous weekend's report, has materialized, and two key Indicators for Bitcoin are also poised to turn Bearish, potentially casting a wide net of impact on the entire crypto market.
Arthur Hayes: The current weakness in the market is temporary, and Bitcoin's status as a safe-haven asset will be unquestionable.
Arthur Hayes, co-founder of BitMEX, stated on platform X: "The money printing machine continues to intensify under the name of 'national interest' (the Federal Reserve or other central banks may continue to issue more currency to stimulate the economy), this weakness (the downward trend in the crypto market) will eventually pass, and Bitcoin's status as a safe haven will be unquestionable."
Analysis: Bitcoin previously falling below 0.1 million USD may indicate that there is a risk-averse sentiment in Wall Street.
According to CoinDesk, Bitcoin dropped below $0.1 million on Sunday due to market concerns about Iran possibly blocking the Strait of Hormuz, marking its lowest level since May this year. XRP fell to its lowest level since early April, ETH dropped to early May levels, and SOL's price also significantly declined. The Strait of Hormuz is a crucial passage for global oil trade, carrying about 20% of the world's oil supply, leading to heightened risk-averse sentiment on Wall Street. JPMorgan predicts that in this scenario, the price of oil may spike to $120-130 per barrel, potentially raising the U.S. inflation rate to 5%, a level not seen since March 2023.
US Treasury Secretary Bessent: Stablecoins can solidify the dominance of the US dollar.
U.S. Treasury Secretary Bessent stated on platform X that cryptocurrencies do not pose a threat to the dollar. In fact, stablecoins can reinforce the dollar's dominance. Digital assets are one of the most significant phenomena in today's world, and the U.S. will strive to become a center for digital asset innovation, with the GENIUS Act bringing it a step closer to that goal. Bessent previously noted that recent reports predict that the market size for stablecoins could reach $3.7 trillion in the next decade, and with the passage of the GENIUS Act, the outlook for the stablecoin market will become even brighter. The stablecoin ecosystem will drive private sector demand for U.S. Treasury bonds, which support stablecoins, and this new demand is expected to lower government borrowing costs, help control national debt, and potentially attract millions of new users globally to the dollar-based digital asset economy.
South Korean payment giant Kakao Pay has officially launched its business layout for the Korean won stablecoin.
According to the Seoul Economic Daily, South Korean payment giant Kakao Pay has officially launched its layout for the Korean won stablecoin business and has submitted 18 applications for the combined trademark including "KRW" and the company logo to the patent office (such as KRWKP, KWRP, etc.), covering categories of virtual asset financial transactions, electronic transfers, and Intermediary Services. This move is seen as a response to the legislative trend of South Korea's Digital Asset ****, which aims to allow private issuance of Korean won stablecoins. Industry analysis points out that Kakao Pay's move is to seize the first opportunity in the stablecoin market, and gaming company Nexthurs publicly stated on the same day that it will compete for the qualification to be the first to issue the Korean won stablecoin. Currently, South Korean government and enterprises are accelerating the process of digital asset compliance, and competition in the domestic stablecoin market is expected to intensify.
Bloomberg Analyst: The probability of the majority of spot crypto ETFs being approved has been raised to 90% or higher.
Bloomberg analysts Eric Balchunas and James Seyffart have stated that the probability of the approval of the vast majority of spot crypto ETFs has been raised to 90% or higher, believing that the SEC's positive interactions are an important signal. However, the specific approval or launch timeline is still uncertain, potentially within the next month or two, or may have to wait until after October; time is not important, what matters is that it will be approved.
Cardone Capital has purchased approximately 1,000 Bitcoins and plans to increase its shareholding by another 3,000 Bitcoins this year.
Real estate investment company Cardone Capital's CEO Grant Cardone stated on Saturday on the X platform: "Cardone Capital has included approximately 1,000 Bitcoins on its balance sheet, becoming the first comprehensive company to adopt a full Bitcoin strategy, integrating Real Estate with Bitcoin assets. The group owns 14,200 residential units and over 0.5 million square feet of class A office space, with plans to increase its holdings by another 3,000 Bitcoins and add 5,000 residential units this year."
The Vice President of JD-SW proposed that Hong Kong develop a stablecoin for offshore RMB to secure a place in international currency competition.
According to the Hong Kong Wen Wei Po report, $JD-SW (09618.HK)$ Vice President Shen Jianguang stated at the opening forum of the Wealth Management Expo 2025 that the RMB has unique advantages in its internationalization development. Although significant progress has been made in the internationalization of the RMB, there is still considerable room for growth in global currency usage. Hong Kong can serve as a pioneer region for developing offshore RMB, which can then be promoted globally. He suggested that Hong Kong can develop a stablecoin for offshore RMB, which will help the RMB secure a place in the next generation of international currency competition.
James Wynn: The short-term target price for Bitcoin is between 0.093 million and 0.095 million US dollars.
James Wynn tweeted that the short-term price target range for Bitcoin is between 0.093 million and 0.095 million USD. Given the tense global geopolitical situation, other countries may get involved, and Bitcoin's price may decline further. Even setting aside the war, the United States is not lowering interest rates, and the only 'bullish' factor is the global M2 money supply, which does not come from the US dollar.
The Governor of Texas signed SB 21, becoming the third state to establish Bitcoin reserves.
According to The Block, Texas Governor Greg Abbott has signed the SB21 bill, becoming the third state after Arizona and New Hampshire to establish Bitcoin reserves. The fund will be set up outside the usual state financial department and will be managed by Glenn Hegar, Texas' public accounts auditor. Greg Abbott also signed the HB4488 bill, which isolates Bitcoin reserves from other state government funds, protecting them from periodic fund allocations by the state treasury to general revenues. The bill also ensures that even if no Bitcoin is purchased by next summer, the legality of the Bitcoin reserves will still remain valid.
CNBC: Stablecoins may become an important source of funding for the U.S. government and a new tool to address deficits.
According to CNBC, stablecoins may become a new tool for US Treasury Secretary Bessent to address the country's deficit. Bessent previously praised the GENIUS bill and stated that a regulated and rapidly evolving stablecoin market could create new buyers for US government debt, boosting private sector demand for US Treasury bonds. Bessent had previously indicated to the House Financial Services Committee in May that the stablecoin market's demand for US government securities could reach as high as 2 trillion USD in the coming years. However, analysts believe that the stablecoin industry is unlikely to fully resolve the US government's debt financing issues and may pose additional risks, as the extra demand for stablecoins needs time to develop, while the US Treasury may need to issue a large amount of debt securities within a year. Should issues arise preventing the Federal Reserve from lowering interest rates, the US deficit would spiral out of control.
Coinbase has obtained a crypto license in the EU and is relocating its EU headquarters from Ireland to Luxembourg.
According to CNBC, the crypto exchange $Coinbase (COIN.US)$ It was announced that it received the MiCA license issued by the Luxembourg Financial Supervisory Authority (CSSF), becoming the first US crypto trading platform fully authorized by the EU. The company also announced it would move its EU headquarters from Ireland to Luxembourg, citing a more forward-looking financial policy environment in the latter. Coinbase CEO Brian Armstrong stated: "Coinbase is fully committed to the European market, MiCA sets the standard, and Luxembourg is leading the industry with its pro-business environment and prudent regulatory approach."
Blackrock's Bitcoin spot ETF has exceeded $69.7 billion, accounting for 3.25% of the total BTC supply.
According to Cointelegraph, Blackrock's Bitcoin spot ETF (IBIT) has a management scale exceeding 69.7 billion USD, holding 3.25% of the total supply of Bitcoin and occupying 54.7% of the US Bitcoin ETF market. Notably, this ETF has entered the top 25 in global ETF asset management scale within less than a year and a half of operation. Glassnode data shows that the average amount for a single Bitcoin transaction currently stands at 0.0362 million USD, with transactions over 0.1 million USD making up 89%, indicating that institutional investors are dominating the market. However, a report from CryptoQuant indicates that the number of short-term Bitcoin holders has decreased from 0.8 million to 4.5 million since May 27, showing that new market funds are drying up. CryptoQuant believes that if investor demand continues to be weak, Bitcoin may look for support around 0.092 million USD.
North Korean hackers are using new information-stealing malware to attack crypto industry workers.
According to Cointelegraph, a report released by Cisco Talos on Wednesday stated that the North Korean hacker organization 'Famous Chollima' recently launched new phishing attacks targeting cryptocurrency practitioners. The organization lured job seekers with blockchain experience from regions such as India to install a Python remote control Trojan named 'PylangGhost' through fraudulent recruitment websites mimicking companies like Coinbase and Robinhood. Under the guise of video interviews, attackers induced victims to execute malicious commands, stealing wallet credentials and password manager data from more than 80 browser plug-ins such as MetaMask and TronLink. This malware features functions such as screenshot capturing, file management, and system information collection, displaying similar characteristics to the previously discovered GolangGhost Trojan. Researchers have ruled out the possibility that the attackers used AI to generate code.
Opinion: The crypto market is still in a state of readiness, and volatility could explode at any moment.
QCP Capital, a crypto investment institution in Singapore, stated that the global market is maintaining a wait-and-see attitude, with investors evaluating geopolitical risks and the potential for a resurgence in volatility. Gold surged after the Israeli attack on June 13 but then retreated, diminishing its safe-haven demand, while WTI Crude Oil prices remain firm at the $75 mark. The energy market continues to be restrained by the Israel-Iran conflict, with rising speculation about a potential U.S. military intervention. The dollar has slightly weakened as investors are betting on an increased probability of the U.S. directly participating in regional conflicts within the next 48 hours, leading to a moderate withdrawal of funds from the dollar.
加密货币方面，BTC延续横盘走势。尽管宏观不确定性加剧，且特朗普社交媒体言论带来政治噪音，价格波动依然低迷。市场情绪谨慎，持仓数据显示投资者在等待更明确的催化剂。BTC与ETH的风险逆转指标显示，6月和9月合约的投资者更倾向对冲下行风险，表明多头正积极保护现货头寸。值得注意的是，ETH 6月平值期权Implied Volatility已低于9月合约，反映短期特定风险溢价收缩，可能与事件驱动对冲减少或短期波动率获利了结有关。与此相反，BTC近月合约仍保持轻微波动溢价。当前加密市场仍处于蓄势待发的状态，下一则头条新闻、宏观转向或尾部事件，都可能成为引爆历史级波动的导火索。
Editor/Joe
