The global cryptocurrency market cap now stands at $2.58T, up by 0.51% over the last day, according to CoinMarketCap data.

The global cryptocurrency market cap now stands at $2.58T, up by 0.51% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $76,108 and $77,650 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $77,520, up by 0.73%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include NIL, ERA, and DEXE, up by 26%, 21%, and 21%, respectively. Bitcoin Holds Firm as Hormuz Relief Offsets ETF Withdrawals and Treasury RepositioningBitcoin hovered near $77,500 while the broader crypto market rose 0.51%, helped by receding energy risk after Brent crude tumbled on signs of a US-Iran maritime deal. Still, institutional demand showed cracks, with spot Bitcoin ETFs posting $1.257 billion in weekly outflows and Strategy pausing its BTC purchases to buy back $1.5 billion in debt. The result is a steadier but more cautious market, where macro relief is competing with softer crypto-native flows. US and Iran Near Deal to Reopen Strait of Hormuz as Brent Crude Tumbles 6% Key Takeaways:60-day conditional ceasefireIranian oil sanctions waiversEnergy risk premium recedingSummary:The US and Iran are nearing a 60-day memorandum of understanding to reopen the Strait of Hormuz, with Iran agreeing to remove sea mines and restore full maritime navigation in exchange for the US lifting its naval blockade of Iranian ports. The deal includes limited sanctions waivers allowing Iran to sell oil more freely, tied to verified compliance, alongside Tehran's commitment to enter nuclear enrichment suspension talks. Brent crude fell roughly 6% to its lowest level in months, retreating from levels that had surged above $100 per barrel during peak tensions. US officials caution the agreement remains fragile and could still collapse. Vitalik Buterin Pledges Leaner Ethereum Foundation, Fewer ETH Sales as Researcher Exodus Continues Key Takeaways:EF downsized, mandate refocusedReduced ETH treasury salesCROPS: security-first prioritiesSummary:Vitalik Buterin outlined a major strategic shift for the Ethereum Foundation, repositioning it as a leaner institution under a "CROPS" mandate prioritizing censorship resistance, security, and privacy at the protocol level. The Foundation will scale back broad ecosystem funding and commit to selling less ETH, holding roughly 0.16% of total supply with a more conservative treasury approach. Several senior researchers have departed as part of the planned restructuring, with the board expanding and Buterin deliberately reducing his own influence. The shift aims to make EF one of many nodes in the Ethereum ecosystem rather than its central coordinator. Michael Saylor Buys Bonds Instead of Bitcoin This Week Key Takeaways:Weekly BTC accumulation paused$1.5B convertible note buybackStrategy holds 843,738 BTCSummary:Michael Saylor's Strategy Inc. disclosed it paused its weekly Bitcoin purchases this week, instead focusing on debt management including a buyback of approximately $1.5 billion of its 0% convertible senior notes due 2029. The liability-reduction move aims to improve financial flexibility ahead of future Bitcoin accumulation cycles. Strategy remains the largest corporate Bitcoin holder with 843,738 BTC valued at roughly $64 billion. The pause is tactical rather than strategic, as the firm continues positioning itself as a Bitcoin reserve bank. Bhutan Transfers 90 BTC to Segwit Address, Holds $233 Million in BitcoinKey Takeaways:Sovereign BTC treasury repositioningCumulative 2026 outflows exceed $233MBhutan retains 11,286 BTC in reservesSummary:The Kingdom of Bhutan has transferred an additional 90 BTC to a SegWit address, pushing the government's cumulative Bitcoin outflows in 2026 above $233 million. The transfers originate from Bhutan's sovereign reserve wallet managed through Druk Holding & Investments, the state investment arm that has been periodically moving Bitcoin holdings throughout the year. The continued outflows signal ongoing treasury management by one of the few nations known to hold Bitcoin on its balance sheet. Bhutan still retains approximately 11,286 BTC worth roughly $870 million, representing about 0.054% of bitcoin's total supply. Bitcoin Spot ETFs Saw Net Outflows of $1.257 Billion Last Week Key Takeaways:$1.26B weekly net outflowsBlackRock IBIT leads withdrawals$98.87B in total ETF assetsSummary:U.S. Bitcoin spot ETFs recorded $1.257 billion in net outflows last week, with BlackRock's IBIT accounting for the bulk at $1.008 billion in withdrawals. Despite the weekly drain, cumulative net inflows since launch remain substantial at $57.08 billion, with total net assets across all Bitcoin spot ETFs standing at $98.87 billion. ETFs now represent 6.49% of Bitcoin's total market capitalization. The outflows mark a notable pullback in institutional demand after an extended period of net inflows. Ethereum Spot ETFs See $216 Million Net Outflow Over Past WeekKey Takeaways:10-day ETF outflow streak continuesBlackRock's ETHA leads redemptionsETH falls below $2,200 supportSummary:U.S. spot Ethereum ETFs recorded approximately $216 million in net outflows over the past week, extending a 10-day outflow streak that has seen over $430 million in cumulative redemptions since mid-May. BlackRock's ETHA led the selling while smaller funds like Bitwise's ETHW recorded modest inflows. The sustained bleed coincides with ETH losing its $2,200 price support amid a broader crypto ETF retreat that saw Bitcoin funds shed $1.26 billion in the same period. Despite the recent exodus, cumulative net inflows since launch remain above $12 billion. AI TRENDS | SoftBank Shares Hit Record High Amid OpenAI IPO Speculation Key Takeaways:OpenAI IPO filing with Goldman SachsSoftBank holds 13% OpenAI stakeStock up 53% year-to-dateSummary:SoftBank Group shares surged roughly 20% to hit their daily limit and record highs after reports OpenAI is preparing a confidential IPO filing with Goldman Sachs and Morgan Stanley. SoftBank holds an estimated 13% stake worth $64.6 billion in OpenAI, recently valued at $852 billion, following a phased $30 billion investment. The rally pushed year-to-date gains past 53%, also buoyed by a planned SB Energy IPO and strong Arm Holdings performance. The record signals mounting investor appetite for AI proxy plays ahead of a potentially historic public listing.Market movers:ETH: $2119.65 (-0.07%)BNB: $661.89 (+0.32%)XRP: $1.3606 (-0.36%)SOL: $86.05 (-0.70%)TRX: $0.3676 (+1.13%)DOGE: $0.10266 (-0.46%)ZEC: $660.12 (+3.50%)WBTC: $77282.9 (+0.74%)U: $1.001 (-0.01%)XAUT: $4543.55 (+0.71%)