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Bloomberg reported that gold extended its decline below $4,000 an ounce, falling as much as 1.8% to $3,943 — the lowest intraday level since November — after giving up almost 2% in the previous session, as the US and Iran sent conflicting signals ahead of fresh talks to end the war.
Washington said negotiations with Tehran are due to begin Tuesday in Doha, while Iran's foreign ministry said on Telegram it would send a delegation of experts but ruled out direct talks. Iranian Deputy Foreign Minister Kazem Gharibabadi said Tehran intended to continue overseeing traffic through the Strait of Hormuz, a move opposed by the US, Europe, and Gulf Arab nations.
Gold has lost around 25% since the war began in late February, breaking through key technical levels including the 200-day moving average. Though oil prices have retreated, expectations remain that central banks will keep interest rates higher for longer, creating headwinds for non-yielding precious metals.
A stronger dollar has added further pressure, with a gauge of the greenback rising more than 2% this month.
"Although easing geopolitical tensions and lower oil prices could help cool inflation risks, the market is clearly placing more weight on renewed US rate-hike expectations and a stronger dollar into the second half — both of which raise the opportunity cost of holding gold," said Hebe Chen, an analyst at Vantage Markets in Melbourne.
Separately, the US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job while she fights President Trump's bid to oust her over unproven mortgage fraud allegations, reinforcing the autonomy of the central bank.
Spot gold was down 1.3% at $3,962.80 an ounce at 10:40 a.m. UTC +8. Silver fell 1.7% to $57.28 an ounce, with platinum and palladium also declining. The Bloomberg Dollar Spot Index gained 0.2% after falling for the previous three sessions.

Bitcoin fell over 1% to $59,135 on Tuesday as the Japanese yen slipped to its weakest level since October 1986 — a four-decade low that triggered broad dollar strength and renewed pressure on risk assets globally. The decline holds Bitcoin below the pivotal 200-week simple moving average. Separately, Strategy authorized plans to buy back up to $1 billion each of its preferred and Class A common shares while simultaneously launching a $1.25 billion "monetization program" that could involve selling Bitcoin — a dramatic reversal from founder Michael Saylor's longtime "never sell your bitcoin" position.
Why the Yen Hitting 162.40 Matters More Than a Routine FX Move
The yen slipped to 162.40 per US dollar — the lowest level since October 1986, during Ronald Reagan's presidency. The Dollar Index has bounced to 101.32 from nearly 101 on Monday as a direct consequence. This is not a new dynamic but a continuation of one that has grown more acute: the yen has declined roughly 57% against the dollar since 2021, driven by the stark divergence between the Federal Reserve's rate hikes above 5% at their peak and the Bank of Japan's near-zero rates for most of that period. The BOJ only recently lifted its policy rate to approximately 1% — still dramatically below the US rate of roughly 3.5%.
The yen's weakness connects directly to crypto markets through the carry trade mechanism that has been flagged repeatedly throughout June. The currency has long been used to fund carry trades — borrowing cheaply in yen to invest in higher-yielding risk assets worldwide, including crypto. With speculative yen short positions already at multi-year highs heading into the BOJ's June meeting, a 40-year low represents the continuation rather than the resolution of that carry trade dynamic, keeping the unwind risk that triggered Bitcoin's crash from $65,000 to $50,000 in July 2024 fully alive.
Why Japan's Fiscal Position Makes This Especially Dangerous
Market observers see the yen's slide as a symptom of Japan's deeper fiscal challenges playing out in currency markets. With a debt-to-GDP ratio exceeding 220% — among the highest of any major economy — rapid rate hikes by the BOJ risk sparking a fiscal crisis by dramatically increasing Japan's debt servicing costs. Yet continued inaction allows the yen to weaken further, creating a policy trap with no clearly safe path forward.
For now, Japanese officials are relying on jawboning — verbal warnings intended to stem the yen's slide without committing to costly intervention — while the BOJ's hawkish stance remains largely theoretical rather than substantively reflected in policy action. The risk this creates is specific and significant: some analysts warn that eventual forceful BOJ action, if it ever materializes, could trigger a mass unwinding of yen-funded carry trades, pressuring stocks, bonds, and crypto simultaneously and with considerably more force than a gradual, telegraphed policy shift would produce.
Strategy's Reversal: Buybacks Funded by a Bitcoin Sale Program
Strategy's announcement Monday represents one of the most consequential shifts in the company's history. The world's largest publicly listed Bitcoin holder authorized buybacks of up to $1 billion each for its preferred and Class A common shares — while simultaneously launching a $1.25 billion "monetization program" designed to raise capital, potentially including Bitcoin sales, in an already weak market.
The significance cannot be overstated: Saylor's defining public position since 2020 has been an unwavering commitment to never sell Bitcoin. The company's 32 BTC sale in late May — tiny relative to its 845,000+ BTC treasury — triggered a market-wide selloff specifically because it represented the first crack in that commitment. A $1.25 billion monetization program that could involve Bitcoin sales represents an order of magnitude larger departure from that core thesis.
Why Arca's Jeff Dorman Says This Doesn't Solve the Underlying Problem
Jeff Dorman, CIO of Arca, was direct in his assessment on X: "The can has been kicked down the road for a year or two. Cap structure trades will pop up again in the future, because again, there's no real answer here that satisfies all parts of the cap structure other than BTC mooning." His framing reinforces exactly the capital waterfall tension that Marex's Ilan Solot identified weeks earlier — every move Strategy makes protects one stakeholder group while disadvantaging another, and no combination of buybacks, monetization programs, or dividend rate adjustments resolves that structural tension without Bitcoin's price recovering substantially.
Dorman added a pointed criticism of Saylor's prior decisions: "Saylor will likely create more unforced errors, like paying down the debt which kicked all of this off in the first place — retired $1.5 billion in debt at the expense of $40 billion in enterprise value destruction." This specific criticism suggests that Strategy's debt reduction strategy, intended to strengthen the balance sheet, instead triggered a chain of capital structure stress that destroyed far more enterprise value than the debt reduction itself was worth — a damning assessment from a prominent crypto-native institutional voice.
STRC's Continued Weakness Undermines the Funding Channel
The context that makes Strategy's monetization program necessary is STRC's continued deterioration. The preferred stock — designed as a yield-generating instrument to fund Bitcoin purchases — has cratered in recent weeks, weakening the company's primary funding channel. With STRC trading well below par and unable to support new issuances at viable terms, Strategy's traditional mechanism for raising capital without selling Bitcoin or diluting common shareholders has effectively stalled, leaving the $1.25 billion monetization program as one of the few remaining levers available.
What This Means Heading Into Thursday's Jobs Report
Bitcoin's position below $60,000 and below the 200-week SMA, combined with the yen's 40-year low and Strategy's structural capital pivot, creates a convergence of pressures arriving simultaneously just two days before Thursday's critical nonfarm payrolls report. A weak jobs number that triggers the dollar-and-yields unwind discussed earlier this week would provide relief on the macro front even as the yen and Strategy-specific risks remain unresolved. Until then, Bitcoin faces pressure from three independent directions — Japanese currency policy, Strategy's capital structure stress, and the broader hawkish Fed narrative — none of which show signs of resolving before the week's key data arrives.

China’s non-manufacturing business activity index came in at 50.2% in June 2026, up 0.1 percentage point from the previous month, indicating a modest improvement in the sector’s overall conditions, according to 36Kr citing an interpretation by Huo Lihui, chief statistician at the Service Survey Center of China’s National Bureau of Statistics (NBS).
The services business activity index rose 0.1 percentage point to 50.4%. By industry, business activity indexes for telecom, broadcasting and satellite transmission services, internet software and IT services, monetary and financial services, and insurance were all above 55.0%, while air transport and real estate remained below the expansion-contraction threshold. The services business activity expectations index increased 0.6 percentage point to 56.0%.
The construction business activity index edged up 0.2 percentage point to 49.0%, while the construction business activity expectations index held in expansion at 51.1%.

A dramatic Round of 32 Monday saw two European giants fall on penalties, as Germany's unbeaten World Cup shoot-out record was shattered by Paraguay and the Netherlands were edged out by Morocco. Brazil needed a 95th-minute winner from Gabriel Martinelli to avoid the same fate against Japan.
Brazil 2-1 Japan
Japan took a shock lead when Kaishu Sano breezed past Casemiro and scored from the edge of the box (29'). Casemiro atoned, heading home Gabriel's cross at the far post (56') after missing a sitter minutes earlier. Vinicius Jr nearly put Brazil ahead but his finish was palmed onto the post by Zion Suzuki. Deep into stoppage time, Bruno Guimaraes fed Martinelli, who poked past Suzuki to spark wild celebrations. Brazil advance to face Ivory Coast or Norway in the last 16.
Netherlands 1-1 Morocco (Morocco win 3-2 on penalties)
Cody Gakpo broke the deadlock in the 72nd minute after Summerville's superb break, sparking emotional celebrations. But Issa Diop's 90th-minute header sent it to extra time. Bart Verbruggen produced the save of the tournament to deny Soufiane Rahimi one-on-one, but Netherlands crumbled in the shoot-out — Morocco winning 3-2 as Ismael Saibari struck the decisive penalty. Morocco face Canada in the last 16.
Germany 1-1 Paraguay (Paraguay win 4-3 on penalties)
Julio Enciso gave Paraguay a first-half lead against the run of play. Kai Havertz equalised after the break, but Germany's shoot-out invincibility finally ended. Havertz and Nick Woltemade both saved by Orlando Gill, before Jonathan Tah blazed over. Jose Canale smashed home the winner. Paraguay face France or Sweden next.

Upcoming Matches for June 30 (all times ET):
1PM — Mexico vs Ecuador (AT&T Stadium, Dallas)
5PM — England vs DR Congo (MetLife Stadium, New Jersey)
9PM — France vs Sweden (Estadio Azteca, Mexico City)

ARK Invest bought a combined $43.5 million worth of shares in crypto-related companies over the past three trading days, with the largest purchases concentrated in Coinbase and Circle — two stocks that have fallen 16.9% and 27.6% respectively over the past month as Bitcoin slid to a near two-year low of $58,190.
ARK added 122,544 shares of Coinbase worth approximately $18.6 million since Thursday, and 169,777 shares of Circle worth roughly $12.9 million over the same period — the two largest individual purchases in the three-day buying spree. The firm also bought nearly $5.2 million in Bullish, the crypto exchange that has been navigating the EU's MiCA transition alongside Coinbase and Kraken, and $5.12 million in Robinhood, which has pushed aggressively into crypto tokenization in recent months, most recently with its "The World Is Flat" product reveal event. ARK rounded out the buying with $1.69 million in SoFi Technologies on Monday — a crypto-friendly bank that has been expanding its digital asset offerings.
Why ARK Is Buying Into Weakness Across the Board
The timing of these purchases is deliberate rather than coincidental. CRCL, COIN, and BLSH have fallen 27.6%, 16.9%, and 26.3% respectively over the past month — a period that coincided with Bitcoin's slide to $58,190, its lowest level in nearly two years, and a fading market confidence that the CLARITY Act will pass before the November midterm elections. CZ's own assessment from earlier this month — that the CLARITY Act is "important but not transformative" for crypto's long-term growth — appears to be playing out in market pricing, with investors discounting crypto-adjacent equities partly on regulatory uncertainty rather than purely on Bitcoin's price action.
ARK's purchase pattern across Coinbase, Circle, Bullish, Robinhood, and SoFi represents a coordinated bet on crypto market infrastructure broadly — exchanges, stablecoin issuers, brokerages, and crypto-adjacent banks — rather than a concentrated bet on any single company or narrow thesis. This diversified infrastructure approach mirrors the institutional accumulation pattern seen elsewhere in June, including Morgan Stanley's continued Bitcoin ETF buying and BlackRock's reaffirmed 1-2% portfolio allocation thesis, suggesting institutional conviction in crypto's structural growth persists even as near-term price action and regulatory sentiment remain negative.
Where the Purchases Landed: ARKK Leads, ARKW and ARKF Also Add
Most of the newly purchased shares were added to the ARK Innovation ETF — the firm's flagship fund — followed by the ARK Next Generation Internet ETF. The ARK Blockchain & Fintech Innovation ETF was also topped up with crypto-related stocks, reinforcing that the buying was deliberately distributed across ARK's most crypto-exposed fund vehicles rather than concentrated in a single product.
ARK also added to its positions in SpaceX and Palantir over the same three-day window — SpaceX's inclusion is notable given the company's own 23% three-day crash following its $20 billion bond announcement weeks earlier, suggesting ARK is treating that pullback as a buying opportunity in the same way it is treating crypto equity weakness. Over the same period, ARK reduced positions in Alibaba, Roku, Strata Critical Medical, and several other companies — funding the crypto and AI-adjacent purchases through rotation out of less core holdings rather than fresh capital inflows.
What This Signals
ARK's $43.5 million crypto stock buying spree arrives during one of the most challenging weeks of the entire correction — Bitcoin testing multi-year support levels, the yen at a 40-year low, Strategy reversing its core "never sell" commitment, and record $4.06 billion in June Bitcoin ETF outflows. A high-profile, actively managed institutional fund deploying meaningful capital into crypto-adjacent equities during this specific window provides a notable counter-signal to the broader retail and institutional caution reflected in ETF flow data — though ARK's own track record of buying into declines that subsequently extend further means the purchases should be read as a directional bet rather than a confirmed bottom signal.

According to Bloomberg, the yen slid to its weakest level against the dollar since 1986, breaching the 161.95 mark in New York trading overnight and extending its decline to 162.40 in Tokyo on Tuesday, despite jawboning from Chief Cabinet Secretary Minoru Kihara and subsequent comments from Finance Minister Satsuki Katayama that had little immediate impact.
The breach of 161.95 passes the nadir touched in July 2024 during an earlier intervention campaign and puts traders on high alert for authorities wading into the market. The yen's slump has persisted despite regime change at the Bank of Japan, which ended its negative interest-rate policy in 2024 and lifted its benchmark rate to 1% on June 16 — the highest since 1995 — yet the impact was minimal as traders expect the Federal Reserve to stay hawkish.
As long as the gap between Japan's ultra-low rates and those in the US and other major economies remains wide, investors have an incentive to borrow cheaply in yen and invest in higher-yielding assets overseas, with resulting capital outflows keeping downward pressure on the currency.
The persistent softness comes despite a record ¥11.73 trillion ($72.4 billion) intervention by the government from April 28 to May 27 after the yen first slid past 160 per dollar, with Japan likely drawing on holdings of foreign securities including US Treasuries to finance the defense.
Finance Minister Katayama reiterated on June 19 that authorities were ready to take "bold action" and said the US and Japan are increasingly "aligned" on foreign exchange policy after speaking with US Treasury Secretary Scott Bessent.
The US-Iran war added fresh pressure given Japan imports almost all of its energy, with the vast majority of oil coming from the Middle East. An aging and shrinking population has clouded growth prospects and fueled public debt that weighs on substantial rate-hike expectations.
Nomura's chief FX strategist Yujiro Goto said the focus will be whether authorities move ahead with actual intervention or stronger verbal warnings. Bloomberg Markets Live strategist Mark Cranfield said the 164-to-165 area is where FX traders will now focus. Toyota Motor Corp. estimates every ¥1 depreciation boosts operating profit by ¥50 billion, with the weak yen potentially delivering a $5.8 billion profit windfall for Japanese carmakers this year.

Bitcoin fell 1.5% Tuesday after failing to hold $60,000 on Monday, dropping to $59,250 and approaching the weekend lows of $58,800. Ether slid 1.73% to $1,580 after failing to break through $1,640 resistance. Both assets are now testing critical multi-year support levels with no obvious floor beneath them if those levels fail — and the options market is pricing that risk accordingly, with Bitcoin puts trading at a persistent 10%-plus premium to calls across all timeframes.
Why These Support Levels Matter More Than Usual
Ether is testing a level it has bounced from twice before — in April 2025 and October 2023 — making Tuesday's test the third occurrence of this specific support zone holding or breaking in the current multi-year cycle. Bitcoin is trading around its lowest point since late 2024, a level with less historical precedent to draw on within the current bull-bear cycle structure.
The significance of these tests is structural rather than purely technical. A level that has held twice before carries psychological and algorithmic weight — traders and systematic strategies that bought at the prior bounces are watching for the same pattern to repeat, creating a self-reinforcing floor as long as it holds. A failure to hold removes that reference point entirely, leaving both tokens without an obvious technical floor and increasing the probability that price discovery moves toward the deeper on-chain support levels — Bitcoin's $49,900-$53,200 realized price cluster and the implied $45,000 cycle bottom that historical bear market pattern analysis has identified.
Why DeFi Tokens Are Falling Harder Than Bitcoin
The altcoin market saw exaggerated downside Tuesday, with DeFi tokens leading losses. Ethena fell as much as 7.5%, Jupiter and Ether.fi both dropped between 3.3% and 7.5%, as risk appetite continued to wane across the sector. DeFi tokens carry higher beta to Bitcoin and Ether's directional moves than most other crypto categories — when the underlying assets that collateralize DeFi protocols decline, the tokens of the protocols themselves typically fall harder, reflecting both the direct price exposure and the reduced total value locked that results from declining collateral values.
Ethena's continued weakness is particularly notable given the structural vulnerability identified weeks earlier: a portion of the protocol's yield-generation strategy depends on positive funding rates, which have remained negative across much of the derivatives market — meaning ENA's income mechanism continues working against holders rather than for them.
The One Bright Spot: HYPE Gains 4.3%, But the Move Isn't Built on Leverage
Hyperliquid's HYPE gained over 4.3% in 24 hours — the only major token trading noticeably in the green on an otherwise red Tuesday. The rally appears spot-driven rather than leverage-driven: open interest in HYPE futures has remained around 40 million tokens, a level it has held since at least June 22, meaning the price gain has not attracted fresh leveraged speculation. Annualized funding rates sitting close to 10% indicate perpetual futures are trading modestly above spot price — a mild bullish lean rather than aggressive positioning.
The spot-driven nature of HYPE's move is constructive from a sustainability standpoint — gains built on genuine buying rather than leveraged momentum tend to be more durable, though they also tend to be smaller in magnitude than leverage-amplified rallies.
Why Rising DOGE Open Interest Is a Bearish Signal, Not a Bullish One
Dogecoin posted the largest open interest gain of the past 24 hours among major cryptocurrencies, with futures open interest jumping to 16 billion tokens — the highest level since the October 10 crash and up from 13 billion the day before. On its face, rising open interest alongside the broader market weakness might appear to signal contrarian bullish positioning.
The data says otherwise. Negative funding rates combined with negative 24-hour OI-adjusted cumulative volume delta indicate the inflows are bearish rather than bullish — sellers are the more aggressive side, hitting sell orders to cross the spread and fill bearish bets at the best available bid. The rising open interest reflects increasing short positioning in Dogecoin specifically, not speculative long demand, consistent with Dogecoin's 9.6% weekly decline reported earlier in the week.
Why Volatility Indexes Suggest Calm Despite the Price Action
Despite the bearish price action across most of the market, Bitcoin's 30-day implied volatility index BVIV dropped 11% to 44% on Monday and has held around that level since — continuing the decline from the prior week's elevated readings. Ether's equivalent EVIV index is telling the same story. Lower implied volatility during a period of price weakness is an unusual but not unprecedented combination — it suggests options markets are not pricing imminent dramatic moves despite the support level tests, consistent with grinding price action rather than a violent breakdown.
This is reinforced by Tuesday's block flow activity: a Bitcoin short straddle trade — an options strategy that profits specifically from low volatility and price consolidation — suggests at least some professional traders are positioning for continued range-bound, grinding price action rather than a sharp directional break in either direction.
The Persistent Defensive Positioning in Options Markets
Despite calm implied volatility readings, the directional skew in Deribit's options market remains firmly defensive. Bitcoin puts continue trading at a 10%-plus premium to calls across all timeframes — a sign of persistent downside concern that has held steady through the past several sessions. Ether shows a similar pattern at the short end, with weekly puts carrying a comparable premium, though further-out puts are noticeably cheaper than calls — suggesting near-term caution that moderates somewhat over longer time horizons, consistent with the view that the current support tests represent a near-term risk rather than a structural multi-month concern.
The Macro Backdrop: Crypto Weakness Against Stable Equities
Tuesday's crypto weakness stands in contrast to traditional markets, where US equities have been steady since midnight — the S&P 500 and Nasdaq 100 futures posted modest gains of 0.03%, while the Dollar Index added 0.25%. The divergence reinforces the pattern that has defined much of June: crypto bearing the brunt of macro repositioning while broader equities find more stable footing, particularly with Fed Chair Warsh's ECB Forum appearance and Thursday's nonfarm payrolls report still ahead as the week's most consequential catalysts for determining whether Bitcoin's test of its 2024 lows resolves with a bounce or a breakdown.

SK Hynix said on June 24 that it has filed an application to list on Nasdaq and plans to raise up to 45 trillion won through an American depositary receipt (ADR) offering.
According to Odaily, the ADRs are scheduled to list in July, and the proceeds will be used to build factories in South Korea and purchase extreme ultraviolet (EUV) equipment.

According to Decrypt, the US Supreme Court on Monday overturned a 91-year precedent, ruling in a 6-3 decision that presidents can fire federal agency commissioners — including at the SEC and CFTC — at will and for almost any reason, with the exception of Federal Reserve governors.
The case, Trump v. Slaughter, affirmed President Trump's right to fire Rebecca Slaughter, a Democratic FTC commissioner, whose husband is VP of policy at crypto venture firm Paradigm and helped fund the lawsuit. The ruling overturns a precedent set during the Franklin Delano Roosevelt administration that limited presidential removal of agency commissioners to cases of neglect of duty or malfeasance.
"Today's historic Slaughter decision by the Supreme Court is the greatest increase in presidential power in the last 100 years," Trump said in a social media post.
The ruling has direct implications for crypto regulation: the SEC currently has three Republican commissioners and zero Democrats, while the CFTC has a lone Republican chairman, with Trump having refused to appoint Democrats to either agency despite telling Decrypt in December he was "open" to the idea.
The decision further complicates negotiations over the Clarity Act, as Senate Democrats had previously demanded Trump commit to appointing Democratic commissioners as a condition for supporting the crypto market structure bill. The ruling means Trump could theoretically appoint Democrats and fire them at any time thereafter. Senate Democrats have also staked out ethics language restricting Trump's crypto ventures as a red line. GOP Senate leadership signaled an intention to force a floor vote on the Clarity Act next month regardless of Democratic readiness.

Ether, Solana, and Dogecoin led losses among major cryptocurrencies on Tuesday as the Japanese yen sank to a 40-year low, lifting the US dollar broadly and keeping pressure across digital assets. Bitcoin traded around $59,514 — down 0.3% over 24 hours and 7% on the week — holding below its 200-week moving average for an extended period. Beneath the price action, Glassnode data shows on-chain demand has stayed soft through the entire decline, and Strategy's disclosure that it may sell more than $1 billion in Bitcoin has added a fresh source of caution to an already thin market.
The Yen's 40-Year Low Is Driving Crypto Weakness
The immediate driver of Tuesday's slide was currency markets rather than any crypto-specific catalyst. The yen slipped past 162 per dollar — its weakest level since 1986 — pushing the dollar higher across the board. A stronger dollar makes dollar-priced assets like Bitcoin costlier for foreign buyers and tends to draw capital out of risk trades broadly, a dynamic that hit the entire crypto complex simultaneously rather than any single token.
The weekly damage across major altcoins was severe and broad-based. Ether fell 8.2% to approximately $1,587. XRP dropped 7.1% to $1.04. Dogecoin slid 11.9% to $0.072 — the worst performer among majors. BNB lost 6.5%. Solana was the notable exception, gaining 3% on the day and 2.9% on the week to $74, while Hyperliquid's HYPE bounced 7% on the day to finish roughly flat for the week.
On-Chain Demand Has Not Picked Up Despite Lower Prices
The most structurally significant element of Tuesday's analysis is what Glassnode's on-chain metrics reveal beneath the price decline. Active addresses — a rough gauge of how many users are actually transacting on the network — sat around 618,000, squarely in the middle of its recent range rather than breaking higher despite Bitcoin trading at its lowest levels in nearly two years. If lower prices were genuinely attracting new participants and renewed demand, active address counts would typically show an uptick as new buyers entered the network.
The value of coins moving across the network held near $4.2 billion, just above the bottom of its recent range around $3.6 billion — pointing to subdued rather than surging activity, according to Glassnode's Monday report. Total transaction fees, which reflect competition for block space, kept contracting. Together, these three metrics tell a consistent story: demand has not picked up even with Bitcoin trading at multi-year lows, a finding that complicates the narrative built around accumulation signals like Glassnode's own Accumulation Trend Score and the 79% record long-term holder supply share — those metrics measure who holds Bitcoin and whether they are selling, not whether new capital and new users are actively entering the network.
Strategy's Bitcoin Sale Plan Is Weighing on Sentiment
Strategy's disclosure Monday that it may sell more than a billion dollars of Bitcoin under its new capital plan represents the reversal of Michael Saylor's long-standing refusal to sell — a position that has defined Strategy's identity since 2020. The prospect of those sales hangs over an already thin market: with on-chain transaction volume near the bottom of its range and active addresses showing no surge in new demand, even a fraction of a billion-dollar Bitcoin sale could meaningfully move price in the current liquidity environment.
This is the same overhang Marex's Ilan Solot and Arca's Jeff Dorman identified in their respective assessments of Strategy's capital structure stress — the market is "openly pricing the tail" that forced or strategic Bitcoin sales become necessary, and that pricing pressure persists regardless of whether Strategy ultimately executes meaningful sales under the new monetization program.
The Combination Keeping Crypto Pinned
The current market environment is defined not by any single shock but by the simultaneous absence of multiple potential catalysts. A strong dollar removes the tailwind that a weaker dollar would provide. Quiet on-chain demand removes the organic buying pressure that would typically accompany a genuine bottom formation. And the prospect of a large seller — Strategy — removes the confidence that the supply side has been fully cleared. Each factor alone would be manageable; together, they explain why crypto has traded in essentially the same range for weeks without finding a clear directional catalyst.
The Dollar's Climb and Japan's Next Move
The next tests for crypto are specific and largely outside the asset class itself. Whether the dollar's climb stalls — potentially tied to Thursday's nonfarm payrolls report and the broader crowded dollar-long positioning that reached a seven-year high of $34.5 billion — will determine whether the FX-driven pressure on crypto eases. Whether the yen's slide forces Japan to intervene is the more consequential and less predictable variable: some analysts warn that forceful BOJ action to defend the yen could trigger a mass unwinding of the cheap-yen carry trades that have funded risk assets worldwide, including crypto, for years. That scenario carries echoes of July 2024, when a BOJ rate hike sent Bitcoin from $65,000 to $50,000 in a single week.
For now, with on-chain activity quiet and a large potential seller in Strategy waiting in the wings, crypto has little of its own to lift it — leaving the asset class dependent on macro catalysts arriving from currency markets and central bank policy rather than any structural recovery signal from within crypto itself.

According to the official announcement, Binance Exchange will open trading and enable Spot Algo Trading Bots services for five new bStocks tokenized securities — Lumentum (LITEB), Meta (METAB), Microsoft (MSFTB), Palantir (PLTRB), and Invesco QQQ Trust (QQQB) — beginning at 2026-06-30 13:30 UTC. All five pairs will trade against USDT. Users will enjoy zero maker fees from listing time through August 31, 2026 at 23:59 UTC. bStocks are tokenized securities issued by BTech Holdings Limited, a Binance group affiliate, classified as Certificates representing certain Financial Instruments under ADGM regulations. Each bStock represents an interest in underlying securities held by the Issuer rather than direct ownership of the underlying shares. Users can tokenize direct stock holdings into bStocks at a 1:1 conversion ratio with zero conversion fees. The tokens are deployed on BNB Smart Chain, with smart contract addresses provided for each. Deposits and withdrawals for all five bStocks will open at 2026-06-30 14:30 UTC. bStocks are available to eligible users in certain jurisdictions on a secondary market basis only, offered through an Approved Prospectus in the ADGM.

According to The Block, the UK's Financial Conduct Authority on Tuesday finalized a broad crypto regulatory framework introducing prudential requirements, market abuse controls and stablecoin standards, with the regime taking effect on Oct. 25, 2027.
The framework applies to crypto trading platforms, custodians, stablecoin issuers, lending and borrowing providers, staking firms and certain DeFi entities where a controlling party is identifiable.
The FCA removed an exception that previously allowed fungible cryptoassets to be listed without a disclosure document, and replaced a two-tier classification with a single 40% net risk position requirement and a 40% counterparty default volatility adjustment. For stablecoin issuers, the rules cover reserve backing, safeguarding, redemptions and customer disclosures, with the K-SII capital coefficient reduced to 1% from 2%. The authorization window opens Sept. 30, 2026 and closes Feb. 28, 2027.
FCA Executive Director of Payments and Digital Finance David Geale called the framework a significant milestone providing regulatory certainty while preserving scope for innovation.

On Jun 30, 2026, 13:30 PM(UTC). according to Binance Market Data, AMDB has achieved a new all-time high, trading at 552.01 USDT. The 24-hour increase of 6.36%

US index futures rose modestly on the last day of the quarter, with the S&P 500 set for its best quarterly performance in six years, according to Bloomberg.
The dollar climbed while the yen slid to its weakest level since 1986.

According to the announcement from Binance, Binance Wallet will launch a Solstice (SLX) trading competition on Binance Alpha, allowing eligible users who can trade Binance Alpha tokens to participate through Binance Wallet (Keyless) or via Binance Alpha. The competition is split into two promotion periods: the 1st SLX Trading Competition Promotion Period runs from 2026-06-30 13:00 (UTC) to 2026-07-07 13:00 (UTC), and the 2nd SLX Trading Competition Promotion Period runs from 2026-07-07 13:00 (UTC) to 2026-07-14 13:00 (UTC). Participants will be ranked by total purchase volume of SLX during each promotion period, with selling excluded from volume calculations. The top 2,060 users by purchase volume will share 185,400 SLX equally, which Binance said equals 90 SLX per user. Only trades executed via Binance Wallet (Keyless) or Binance Alpha on Binance Wallet will qualify, while third-party dApp transactions and token bridging transactions are excluded.
Early Bird and Rising Trader Multipliers: Binance said rankings will be based on total Effective Trading Volume, calculated from daily effective volume across the promotion period. Daily Effective Trading Volume equals Actual Trading Volume multiplied by an Early Bird Boost Multiplier that declines by trading day: Day 1 is 2.5x, Day 2 is 2.2x, Day 3 is 2.0x, Day 4 is 1.8x, Day 5 is 1.5x, Day 6 is 1.3x, and Day 7 is 1.0x, applied to the corresponding UTC windows in each promotion period. A Rising Trader Boost Multiplier of 1.2x may also apply to users who, as of three days before the start of the promotion period, have won rewards in fewer than 3 previous Binance Wallet Alpha trading competitions, subject to a Rising Trader Boost Cap. If both apply, Effective Trading Volume is calculated as Actual Trading Volume multiplied by the Early Bird multiplier, plus the lesser of Actual Trading Volume or the remaining cap multiplied by 1.2x. Binance said token rewards will be made available before 2026-07-28 13:00:00 (UTC), and eligible users must claim within 14 days after rewards become claimable.

Taiko said its network has returned online and that no users lost funds. According to Foresight News, the team said it has completed the second and third phases of its recovery plan.
Taiko stated that cross-chain assets have been matched on a 1:1 basis, fully corresponding to assets on the Ethereum mainnet. It added that users can now transfer, swap, and trade normally.
The project said the only remaining step is to reopen cross-chain functionality with the Ethereum mainnet. Taiko said this step is close to completion and that user funds will remain safe during the process.

On Jun 30, 2026, 13:36 PM(UTC). according to Binance Market Data, QQQB has achieved a new all-time high, trading at 730.89 USDT. The 24-hour increase of 0.94%

According to the announcement from Binance, the exchange will perform wallet maintenance for the Bitcoin (BTC) network at 2026-07-01 01:00 (UTC). To support the maintenance, deposits and withdrawals on the Bitcoin (BTC) network will be suspended starting from 2026-07-01 01:00 (UTC) and will resume once the maintenance is complete. Binance said the maintenance is expected to take about one hour and that it will handle the technical requirements involved for users during the process.
Heading: Service impact and resumption details
According to the announcement from Binance, trading of tokens on the Bitcoin (BTC) network will not be affected during the maintenance window, with the suspension limited to deposits and withdrawals. Binance added that deposits and withdrawals for tokens on the Bitcoin network will be reopened once the network is deemed stable, and it does not plan to issue a further announcement when services resume. The notice described the update as a general announcement and noted that products and services referenced may not be available in all regions.

On Jun 30, 2026, 13:42 PM(UTC). according to Binance Market Data, MSFTB has achieved a new all-time high, trading at 372.91 USDT. The 24-hour increase of 1.18%

According to The Block, Strategy's MSTR and STRC securities rebounded on Monday after one of their worst weeks on record, with common shares climbing to around $89 from a $82.31 close and STRC rising above $82 from $73.80, as Executive Chairman Michael Saylor unveiled a "Digital Credit Capital Framework."
The company authorized up to $1 billion in repurchases of digital credit securities including STRC, STRF, STRD and STRK, with STRC as the priority, plus a separate $1 billion MSTR buyback authorization. Strategy raised STRC's monthly dividend rate by 50 basis points to 12% for July and said it would reevaluate monthly based on trading price, bitcoin volatility and USD reserves.
Strategy paused bitcoin purchases last week despite raising $1.15 billion through MSTR share sales, instead boosting its USD reserve to $2.55 billion. Last week's selloff pushed Strategy's enterprise mNAV briefly below 1 for the first time, erasing the premium its stock held over its bitcoin holdings.

An analyst said SpaceX stock has reached a key resistance level at $165, which is viewed as the top of its price channel. According to Odaily, the analyst Ali wrote on X that as long as $165 is not decisively broken, the short-term outlook carries a risk of a pullback.
Ali said the price could retreat to $157 and potentially fall further toward the lower boundary of the channel near $149.
He added that if the price breaks above $165 and holds that level, it would invalidate the current bearish structure and could open upside room, with a target near $180.

According to CoinDesk, JPMorgan said the US needs a durable regulatory framework for digital assets that closes existing gaps rather than creating new ones, arguing that the industry's growth should be matched by safeguards protecting consumers, financial markets, and the broader economy.
In a Monday blog post by Umar Farooq, global co-head of JP Morgan Payments, and Peter Muriungi, CEO of Digital Assets and Blockchain Solutions, the bank argued that pending market structure legislation could help the crypto industry mature — but only if it closes regulatory gaps. The bank repeatedly warned that digital assets should not be allowed to sidestep safeguards governing traditional finance, arguing that innovation without proper oversight could create new risks. Farooq and Muriungi acknowledged that tokenization and programmable money could make payments faster and improve cross-border money movement, but said those benefits will only materialize if lawmakers pair regulatory clarity with strong protections.
The blog comes as the Senate races to advance the Digital Asset Market Clarity Act before the August recess, with negotiators still resolving ethics rules for officials with crypto ties, liability protections for DeFi developers, stablecoin yield provisions, and concerns from Senate Agriculture Committee Democrats.
JPMorgan argued that assets functioning like securities should follow securities laws regardless of blockchain issuance, and decentralized trading platforms serving as exchanges or brokers should meet the same standards for market integrity, disclosure, and customer protection.
On stablecoins, the executives warned against allowing products resembling bank deposits to operate outside capital, liquidity, and consumer protection rules. CEO Jamie Dimon, described as one of the banking industry's most vocal critics of stablecoin yield, said earlier this month: "The banks will not accept it that way," pledging to fight the issue "down to the wire." The bank also argued that digital asset legislation should preserve anti-money laundering and law enforcement tools, warning that broad exemptions could create blind spots for illicit finance and market manipulation.

According to Bloomberg, Super Micro Computer Inc.'s offices in Taiwan were raided by government authorities on Monday, widening an investigation into the alleged smuggling of Nvidia Corp. chips into China using the company's servers.
Local investigators raided the residences of six individuals and the sites of three affiliated companies, including Super Micro's Taiwan office, Taiwanese data center operator Chief Telecom Inc., and Super Micro distributor Albatron Technology Co., according to Taiwan's Keelung District Prosecutors Office and a person familiar with the situation.
Super Micro shares fell as much as 9.2% and were down 8% to $28.17 at about 3 p.m. in New York. Super Micro said in a statement it is "working closely with Taiwanese authorities" and "committed to protecting our advanced technologies and intellectual property."
The move marks an expansion of Taiwan's first public crackdown on AI chip diversion after years of US pressure to curb China's tech access. Taiwan doesn't currently treat AI chip exports to China as a crime, but Taipei is considering criminalizing such exports to give prosecutors more tools. Authorities made their first known detentions in May, charging three individuals with falsifying documents related to exports of Super Micro servers containing Nvidia AI chips — they were suspected of sending at least one batch to China via Japan and attempting to export around 50 servers that were seized. The Keelung District Prosecutors Office said it has also summoned the individuals searched on Monday for interviews.

Bloomberg reported that Susquehanna Investment Group has sued 100 John Doe defendants in Manhattan federal court, seeking to unmask individuals it claims made at least $100 million trading on inside information about a Chinese government crackdown on cross-border brokerages.
The Pennsylvania-based market-making firm, which says it was the counterparty on most of the alleged trades, is seeking to recover more than $70 million it lost in what it believes is one of the largest insider-trading schemes in recent memory. The allegations focus on 200,000 short-dated put option bets placed in the two weeks before China's May 22 announcement punishing brokers for flouting capital controls, with Futu Holdings and Up Fintech's Tiger Brokers singled out for soliciting business without an onshore license.
Many trades were made through accounts at Interactive Brokers, Futu, and Tiger Brokers, and Susquehanna is seeking an order freezing certain accounts and authorizing subpoenas. The traders collectively spent $12 million on options, yielding more than $100 million in profit — a return exceeding 900%.
Susquehanna alleges "powerful evidence" of material non-public information use, saying tips could have come from Chinese securities regulators or personnel at Futu or Tiger's TradeUP unit. "By way of comparison, Raj Rajaratnam's infamous insider trading scheme at Galleon Management yielded only approximately $53 million in profits," Susquehanna said in its complaint, referring to the hedge fund manager convicted in 2011.

Bitmine Chairman Tom Lee attributed Ethereum’s (ETH) 8% weekly decline to quarter-end “window dressing,” saying funds may be trimming three-month losers ahead of June reporting. According to BeInCrypto, Lee made the comments as Bitmine reported holdings of 5,700,040 ETH worth roughly $9 billion and said the firm bought 27,084 ETH last week. ETH is down nearly 22% over the past month versus Bitcoin’s (BTC) 19% loss and is on track for a third straight red quarter. BeInCrypto also cited Lookonchain data showing SharpLink resumed buying, acquiring 39,196 ETH after an eight-month pause.

Samsung Electronics and SK Hynix have risen about 180% and 310% year-to-date, respectively, as demand for AI memory chips supported gains in South Korean equities. According to NS3.AI, the broader market also advanced, with South Korea's KOSPI closing about 1% higher today.
In Japan, the Nikkei closed about 0.9% higher. Japan's Nikkei 225 has gained around 40% this year, while the Topix index is up around 17%.

Robert Kiyosaki said his recent gold price prediction was wrong after XAU/USD fell to the $3,900 level. According to NS3.AI, gold dropped below $4,000 during Monday and Tuesday’s trading session for the first time in 2026.

Avic Jonhon said a decline in gold prices in the second quarter helped reduce the company’s costs to some extent.
According to Jin10, the company said on June 30 that it has built short-, medium-, and long-term systematic response plans to address rising prices for bulk raw materials. It said the measures include cost pass-through, procurement management, technology substitution, lean management controls, and supply-chain coordination to ease cost pressures.
Avic Jonhon also said its isolator business can procure raw materials steadily, but it did not disclose details about specific customers or cooperation arrangements.

The Shanghai Futures Exchange said it will adjust daily price limits and trading margin requirements for several futures contracts starting from settlement after the close on July 2, 2026.
According to Jin10, the exchange’s notice covered gold, copper, aluminum, zinc, lead, alumina, nickel, and stainless steel futures.
For gold futures contracts AU2607, AU2608, AU2609, AU2610, AU2612, AU2702, and AU2704, the daily price limit was set at 14%. The hedging margin requirement was set at 15%, and the general position margin requirement was set at 16%.
For copper futures contracts CU2607, CU2608, CU2609, CU2610, CU2611, CU2612, CU2701, and CU2702, the daily price limit was set at 9%. The hedging margin requirement was set at 10%, and the general position margin requirement was set at 11%.
For aluminum futures contracts AL2607, AL2608, AL2609, AL2610, AL2611, AL2612, AL2701, and AL2702, the daily price limit was set at 9%. The hedging margin requirement was set at 10%, and the general position margin requirement was set at 11%.
For zinc futures contracts ZN2607, ZN2608, ZN2609, ZN2610, ZN2611, ZN2612, ZN2701, and ZN2702, the daily price limit was set at 9%. The hedging margin requirement was set at 10%, and the general position margin requirement was set at 11%.
For lead futures contracts PB2607, PB2608, PB2609, PB2610, PB2611, PB2612, PB2701, and PB2702, the daily price limit was set at 9%. The hedging margin requirement was set at 10%, and the general position margin requirement was set at 11%.
For alumina futures contracts AO2607, AO2608, AO2609, AO2610, AO2611, AO2612, AO2701, and AO2702, the daily price limit was set at 9%. The hedging margin requirement was set at 10%, and the general position margin requirement was set at 11%.
For nickel futures contracts NI2607, NI2608, NI2609, NI2610, NI2611, NI2612, NI2701, NI2702, and NI2703, the daily price limit was set at 10%. The hedging margin requirement was set at 11%, and the general position margin requirement was set at 12%.
For stainless steel futures contracts SS2607, SS2608, SS2609, SS2610, SS2611, SS2612, SS2701, and SS2702, the daily price limit was set at 5%. The hedging margin requirement was set at 6%, and the general position margin requirement was set at 7%.

Precious-metals miners that helped propel South African stocks to a record have turned into a drag, pushing the benchmark index toward its worst quarterly slump in more than two years, according to Bloomberg.

Brent crude rose more than 1% intraday to $74.42 a barrel. According to Jin10, WTI crude moved up to touch $71 a barrel, up 1.07% on the day.

SOL traded around $73.54 after gaining about 7% over the past 7 days, while BTC fell roughly 4.9% and ETH dropped about 6%. According to NS3.AI, Santiment attributed the activity to interest in tokenized equities on Solana, including discussion around xStocks since June 26, alongside SOL’s recovery above key technical levels.
DefiLlama data showed Solana decentralized exchange (DEX) volume increased from $1.16 billion on June 27 to $2.5 billion on June 29.

US technology shares risk further declines because overall investor exposure to the sector remains elevated, Citigroup Inc. strategists led by Chris Chew said, according to Bloomberg.

Bernstein raised its price target for Sandisk (SNDK.O) to $3,000 from $1,700.
According to Odaily, the firm issued the updated target in a brief note.

SK Hynix has filed an F-1 registration statement with the U.S. Securities and Exchange Commission, initiating its U.S. initial public offering process on June 30.
According to ChainCatcher, citing Jiemian News, the company plans to issue American depositary shares and apply to list on the Nasdaq Global Select Market under the ticker “SKHY.”
The prospectus did not disclose the offering size, pricing, or the ratio of ADSs to ordinary shares. It said key terms will be determined based on the company’s share price on South Korea’s KOSPI market and broader market conditions.
SK Hynix said it will remain listed in South Korea after completing the U.S. listing.

Canada’s economy is set to rebound sharply in the second quarter amid a spike in oil production, breaking a half-year of stagnation, according to Bloomberg.

Taijin New Energy (688813.SH) held its 2025 annual general meeting on June 29—its first AGM since listing on March 31, 2026—with institutional and retail shareholders focusing on high-end copper foil equipment, AI supply-chain orders, and the pace of capacity ramp-up, according to Jiemian News. Wind data show the stock was priced at 26.28 yuan per share in its IPO and closed at 49.47 yuan on its first trading day. It later rose to an intraday high of 249.44 yuan on June 25 and ended June 29 at 211.99 yuan.

Global central banks plan to reduce their long-term exposure to the US dollar for the first time in three years, according to Bloomberg, citing a survey by a UK-based think tank.

Rebecca Babin, a senior equity trader at CIBC Private Wealth, said the oil market is overestimating how quickly production will recover, according to Bloomberg.
Babin said she expects oil prices to settle between $75 and $80 a barrel by the end of the year. She made the comments on “Bloomberg Surveillance.”

Dida Chuxing shares surged more than 80% in early trading in Hong Kong after Tongcheng Travel announced a voluntary conditional cash offer to acquire the company.
According to Jin10, Tongcheng Travel said it would make the offer through its wholly owned subsidiary eLong, Inc.
The joint announcement said five major shareholders of Dida Chuxing signed irrevocable undertakings to accept the offer for shares representing about 53.70% of Dida Chuxing’s issued share capital.
The announcement added that the acquisition was not intended to privatize Dida Chuxing.
Dida Chuxing also proposed paying a special cash dividend of HK$1.1745 per share after all conditions were met. Shareholders who accepted the share offer would still be entitled to the special cash dividend, and shareholders would be entitled to the dividend regardless of whether they accepted the offer.