Жаңалықтар

According to Bloomberg, the US conducted a fresh round of strikes against multiple Iranian targets on Saturday, hitting 10 military sites including surveillance infrastructure, communication systems, air defense installations, drone storage facilities, and minelayer capabilities near the Strait of Hormuz, as a weekend of tit-for-tat attacks extended fighting into a third day and led both sides to claim violations of the ceasefire underpinning peace talks.
US Central Command said "Iran was given a chance to honor the ceasefire agreement but elected not to," while President Trump warned on Truth Social that "there may come a point when we are no longer able to be reasonable, and will be forced to militarily complete the job that we very successfully started."
The escalation began when Iran struck a container ship on Thursday, prompting US strikes on Friday; Iran then hit another vessel carrying Qatari oil on Saturday. Bahrain's foreign ministry reported Iranian drones targeting the country, home to the US Navy's 5th Fleet, while a UK naval group said a tanker was struck by an unidentified projectile in Hormuz. The Joint Maritime Information Center raised the strait's security threat to "substantial" and published a mine-warning area.
Iran's foreign ministry called the US attack "an explicit violation" of the MOU, while the IRGC claimed it struck US sites in response. Vice President JD Vance said the US had "honored" the deal and warned "violence will be met with violence." The fighting risks slowing progress toward restoring Hormuz shipping traffic to pre-war levels, with talks on MOU details due to resume Monday.
On a separate track, Israel and Lebanon signed a US-brokered framework deal Friday to end their conflict, but Hezbollah chief Naim Qasem declared it "null and void" by Saturday morning. The two sides remain divided over whether Iran can impose tolls on vessels transiting the strait, with Oman telling European allies that fees may ultimately be required.

PA News reported that next week brings a "data tsunami" for markets, with the US June nonfarm payrolls report moved up to Thursday due to the July 4 Independence Day holiday compressing the trading week. The confluence of month-end, quarter-end, and half-year-end institutional rebalancing creates heightened risk of sudden liquidity dislocations and systematic volatility spikes. The macro backdrop has shifted: oil prices have fallen from about $100 a barrel a month ago to around $70 as the Middle East ceasefire holds, while the S&P 500 is up over 7% year-to-date but has struggled in June. Gold experienced another week of violent swings — dip-buying and safe-haven demand initially gave way to a sell-off driven by stronger-than-expected US economic data, stubborn inflation, a firmer dollar, and rising Fed rate-hike expectations, pushing prices back toward $4,000 before a last-minute rally recovered to the $4,100 edge.
Next week's key events include:
Sun Jun 28, 16:35 — 2027 FOMC Voter & Richmond Fed President Thomas Barkin speaks
Mon Jun 29, 09:00 — Eurozone June Industrial & Economic Sentiment Index
Mon Jun 29, 14:30 — US June Dallas Fed Business Activity Index
Tue Jun 30, 14:00 — US May JOLTs Job Openings; US June Conference Board Consumer Confidence Index
Wed Jul 1, 07:50–08:30 — France, Germany, Eurozone & UK June Manufacturing PMI Final
Wed Jul 1, 09:00 — Eurozone June CPI (YoY/MoM, Preliminary)
Wed Jul 1, 12:15 — US June ADP Employment Change
Wed Jul 1, 13:30 — Fed Chair Kevin Warsh, ECB President Christine Lagarde, BoE Governor Andrew Bailey & BoC Governor Tiff Macklem speak at ECB Forum on Central Banking
Wed Jul 1, 13:45 — US June S&P Global Manufacturing PMI Final
Wed Jul 1, 14:00 — US June ISM Manufacturing PMI; US May Construction Spending (MoM)
Thu Jul 2, 09:00 — Eurozone May Unemployment Rate
Thu Jul 2, 12:30 — US June Unemployment Rate; US June Non-Farm Payrolls (Seasonally Adjusted); US Initial Jobless Claims, week ending Jun 27; US June Average Hourly Earnings (YoY/MoM)
Fri Jul 3, 07:50–08:30 — France, Germany, Eurozone & UK June Services PMI Final
Fri Jul 3, 08:00 — ECB President Christine Lagarde speaks
Fri Jul 3, 15:00 — BoE Governor Andrew Bailey speaks on fiscal and monetary policy coordination

The final day of World Cup 2026 group-stage action delivered drama across six matches. England beat Panama 2-0 to top Group L, Croatia edged Ghana 2-1 to finish second, and Colombia held Portugal 0-0 to win Group K. DR Congo came from behind to beat Uzbekistan 3-1, Argentina saw off Jordan 3-1 with Messi making history, and Algeria and Austria played a thrilling 3-3 draw. The group stage is now complete, with the Round of 32 set to begin.
Panama vs England: Harry Kane became England's all-time leading World Cup goalscorer as the Three Lions overcame a sluggish start to beat Panama 2-0 and finish top of Group L. After a frustrating first hour in which Panama threatened on the counter-attack, Jude Bellingham broke the deadlock on 62 minutes with a clever finish from Bukayo Saka's corner. Five minutes later, Bellingham turned provider, delivering an inch-perfect cross for Kane to head home his 11th World Cup goal, surpassing Gary Lineker's record. England's victory set up a last-32 meeting with DR Congo in Atlanta, though concerns remain after emergency right-back Jarell Quansah was forced off injured.
Croatia vs Ghana: Croatia secured their place in the knockout stages as Group L runners-up with a 2-1 win over Ghana in Philadelphia. The match started slowly with neither side attempting a shot in the opening 15 minutes, but Petar Sucic broke the deadlock after 31 minutes with a stunning long-range drive into the bottom corner. Ghana improved after the break and equalised through Derrick Luckassen's header from Ernest Nuamah's delivery, confirmed after a lengthy VAR check for offside. However, Nikola Vlasic headed home Luka Modric's corner with seven minutes remaining to send Croatia through, while Ghana also qualified as one of the best third-placed teams. The result confirmed Scotland's elimination from the tournament.
Colombia vs Portugal: Colombia topped Group K after a captivating 0-0 draw with Portugal in Miami, a result that sent both sides through but decided the group order. Jhon Cordoba nearly scored inside the first minute and was denied by a brilliant Diogo Costa save, while Colombia keeper Camilo Vargas made a stunning stop from Bruno Fernandes. Cristiano Ronaldo, fresh from two goals against Uzbekistan, was a peripheral figure throughout. Colombia pushed forward in waves in the second half, and Davinson Sanchez thought he had won it late, only for VAR to rule his goal out for offside by a toe. Rafael Leao poked wide at the death for Portugal, but a draw suited Colombia, who topped the group and set up a last-32 tie with Ghana.
DR Congo vs Uzbekistan: DR Congo reached the World Cup knockout rounds for the first time, coming from behind to beat Uzbekistan 3-1 and set up a last-32 clash with England. Eldor Shomurodov capitalised on a defensive mix-up between Axel Tuanzebe and Aaron Wan-Bissaka to dink Uzbekistan ahead, and the Asian side looked the stronger team for much of the first half. Nathanael Mbuku pulled DR Congo level before the break with a fierce finish inside the near post. After halftime, Yoane Wissa converted a penalty after being clumsily tripped by Abdukodir Khusanov, Fiston Mayele prodded home a second from close range, and Wissa arrowed a stoppage-time strike into the far corner to complete a historic comeback victory.
Jordan vs Argentina: Lionel Messi made more World Cup history as Argentina maintained their perfect group record with a 3-1 win over Jordan. Giovani Lo Celso opened the scoring with a free-kick before Emiliano Martinez doubled the lead from the penalty spot. Musa Al Tamari pulled one back for Jordan, who exited without a point but earned credit for their debut campaign. Messi came off the bench to score a trademark free-kick, his sixth goal of the tournament and his 19th overall at World Cups, becoming the first man to score in seven consecutive World Cup matches. Argentina finished with maximum points from Group J and will face Cape Verde in the last 32.
Algeria vs Austria: Algeria and Austria played out a breathtaking 3-3 draw in Kansas City, a result that sent both teams through but eliminated Iran. Marko Arnautovic gave Austria the lead before Sofiane Belghali levelled, and Marcel Sabitzer restored Austria's advantage with a sweeping first-time finish. Riyad Mahrez equalised from the penalty spot early in the second half, and both sides seemed content to settle for a draw that would see them progress. But in stoppage time, Mahrez was sent through and slotted home what looked like the winner, only for Sasa Kalajdzic to head a dramatic equaliser in the fifth minute of added time. Austria finished second in Group J and will face Spain, while Algeria will play Switzerland.
Upcoming Matches for June 28 (all times ET):
3:00 PM ET — South Africa vs Canada (SoFi Stadium, Los Angeles)

Bitcoin is trading near $60,000 — below its 200-week simple moving average at $63,500 — and analyst Ali Charts argues this is one of the better long-term entry windows in the past decade. The 200-week SMA has marked a macro accumulation zone at every major Bitcoin cycle bottom since 2015. The pattern is consistent, the signal is live, and the downside risks are specific and quantified. What history cannot tell you is timing.
What the 200-Week SMA Has Done at Every Prior Cycle Bottom
The 200-week SMA's track record as a cycle bottom indicator spans four distinct bear markets across ten years. In August 2015, Bitcoin touched the moving average and began a bull run that produced cumulative gains exceeding 8,500%. In December 2018, it tested the level and rebounded approximately 267%. In March 2020, the pandemic liquidity shock drove Bitcoin briefly below the moving average before it confirmed support and rose 1,125% from that level. In June 2022, Bitcoin broke below the moving average for the first time in its history — and remained below it for six months until December 2022, when it reclaimed the level and triggered a rally of approximately 680%.
The current setup matches that historical pattern precisely. The 200-week SMA sits at approximately $63,500. Bitcoin is trading near $60,000 — below that level, in the zone that has historically represented the deepest discount available to long-term investors across the entire decade of Bitcoin's institutional maturation.
Why This Is Described as a Macro Accumulation Window
Ali Charts' framing is specific: every time Bitcoin has touched or broken below the 200-week SMA, it has opened what the analyst describes as a "macro-level accumulation window" — a period during which long-term investors who established positions at or below the moving average have historically been rewarded with the next bull cycle's full upside. The returns from those windows — 8,500%, 267%, 1,125%, 680% — span a wide range depending on entry timing and exit discipline, but none of them produced a loss for investors who held through the subsequent cycle.
The $63,500 level is described as the "bull-bear dividing line." A firm reclaim of the 200-week SMA on a higher timeframe — with the price breaking above $63,500 and confirming it as macro support through consecutive weekly closes — has historically signaled the early stages of a new bull cycle rather than a continuation of the bear market.
The Caveat: $54,000 and $40,000 Downside Risks Remain Live
The historical pattern is not a guarantee of timing, and Ali Charts explicitly quantifies the downside risks that remain before any confirmation signal arrives. A pullback to $54,000 is described as possible in the near term — approximately 10% below current prices and close to Bitcoin's realized price of approximately $53,600, the level CryptoQuant identified as the threshold where the average holder transitions from profit to loss. In extreme scenarios, testing the $40,000 range cannot be ruled out — a further 33% decline that would represent a move well below any prior cycle's realized-price floor.
This range of outcomes — from an immediate recovery toward $63,500 to a potential extension to $40,000 — is why the suggested approach is a phased Dollar-Cost Averaging strategy for gradual position building between $58,000 and $40,000. Committing a fixed amount at regular intervals within that range allows investors to establish positions at technical discount levels without requiring a precise call on where the exact bottom lands. It is the strategy most consistent with the historical observation that the accumulation window is identifiable even when the precise floor is not.
How This Fits the Broader June Bottom Signal Cluster
Ali Charts' 200-week SMA analysis adds to the densest cluster of simultaneous bottom indicators Bitcoin has produced this cycle. CryptoQuant's cycle momentum indicator touched -30 — the historical bottom zone. The Sharpe ratio hit -20 on June 11, matching the level seen at the 2015, 2018-19, and 2022-23 lows. The RHODL Ratio is rolling over from its peak in the pattern that preceded the 2015 and 2022 recoveries. Long-term holders control a record 79% of circulating supply. Glassnode's Accumulation Trend Score has held at its maximum reading of 1.0 for weeks. And 259,000 BTC have been net accumulated between $59,000 and $67,000 since June 5.
The consistent message across every indicator is the same as Ali Charts' conclusion: the structural conditions for a bottom are present. The confirmation that the bottom has been reached and the next bull cycle has begun requires Bitcoin to reclaim $63,500 and hold it as support — a test that has not yet been passed, and that the US-Iran ceasefire's fresh breakdown this week, six consecutive weeks of ETF outflows, and the Reuters poll consensus of no Fed rate cuts through 2027 are making harder to achieve in the near term.

Binance founder Changpeng "CZ" Zhou has no single explanation for why crypto markets have fallen so sharply in the first half of 2026 — and he said as much directly. Geopolitical tensions, investors rotating into AI, and the typical four-year crypto market cycle may all be contributing, he told CoinDesk in an exclusive interview. Bitcoin opened 2026 near $89,000, briefly touched $96,000, and has since fallen to approximately $60,000 — down roughly 50% from its October 2025 all-time high above $126,000.
Why CZ Thinks the AI Rotation Is Actually Good News Long-Term
The most interesting element of CZ's assessment is how he frames the AI rotation — not as a threat to crypto but as a structural positive. Hot money flowing into AI is a temporary reallocation, he argued, not a permanent exit from the digital asset ecosystem. "New industries like AI taking in the hot money from the crypto industry will be a positive fact in the long term," he said. The implication is that AI and crypto are sequential waves of technological adoption rather than competing destinations for permanent capital allocation — a view consistent with the broader "Great Convergence" thesis that BlackRock's Jay Jacobs and others have articulated around TradFi and DeFi merging rather than competing.
CZ also flagged prediction markets as a structural positive for financial markets broadly, describing their rapid growth as good for the population by enabling more accurate price discovery and liquidity. He acknowledged the gambling component but drew the same parallel that regulators and analysts have made throughout 2026: speculation provides liquidity, and liquidity benefits legitimate market participants. Kalshi crossing $5.5 billion in perpetual futures volume in its first two weeks is the most concrete data point validating that thesis.
His Long-Term View and Why It Is Not Entirely Selfless
CZ is clear that his bullishness is not impartial. Most of his net worth is held in BNB — giving him a substantial personal stake in both Binance's health and the broader crypto market's trajectory. He acknowledged this explicitly rather than presenting his long-term optimism as purely analytical. "Over the long run, the industry will develop. There's going to be more and more demand for financial technologies, because there will be more and more transactions, so the industry will grow. So I'm not worried about the industry or the short-term price fluctuations," he said.
That framing — long-term structural growth regardless of short-term price action — is consistent with the assessment of every major institutional participant currently accumulating despite the bear market, from BlackRock reaffirming its 1-2% allocation thesis to Morgan Stanley adding 266 BTC last week to CF Benchmarks identifying the $50,000-$60,000 zone as where long-term buyers have always historically stepped in.
The Clarity Act: Important but Not Transformative
On the regulatory front, CZ expressed measured optimism about the Digital Asset Market Clarity Act — which he described as potentially becoming law by year-end if remaining issues, including an ethics provision covering the president, can be resolved. His framing of the legislation is telling: "sort of small, tactical things, which are really important, but those are not gonna impact the growth of crypto longer-term."
This is a notably lower-key assessment than most crypto industry voices have attached to the CLARITY Act. CZ's position appears to be that regulatory clarity is a necessary condition for institutional adoption but not a sufficient one — growth will come from genuine utility and financial technology demand regardless of whether any specific bill passes. He added that if the CLARITY Act is delayed, other countries may move forward first, reinforcing the competitive dynamic that has produced parallel regulatory frameworks in the UK, Japan, South Korea, and the EU throughout 2026.
US Politics: Staying Out While Watching Closely
CZ's most carefully worded comments concerned US politics — an area where his status as a foreign national and a recipient of a Trump pardon makes navigation particularly delicate. "I try to stay as far away from US politics as I can," he said during an interview in Washington where he had set up meetings — a combination that itself illustrates the tension between claimed political distance and active engagement with the policy environment.
On the 2026 midterms and the prospect of Democrats potentially retaking a congressional chamber, CZ said he hoped Democrats would recognize crypto's importance to American voters regardless of partisan affiliation. "Anybody who's anti-crypto now will probably lose quite a lot of votes," he said — a sentiment that echoes Coinbase's Brian Armstrong and Ripple's Brad Garlinghouse, though those executives have expressed it through direct PAC involvement that CZ cannot legally replicate as a foreign national. On potential Democratic scrutiny of Trump's pro-crypto pardons including his own, CZ was direct: "There's nothing to hide. There will be more scrutiny, more inquiries, more clarity. We're very happy to provide information if they're seeking information."

Wall Street remained focused this week on developments in the Middle East, and energy prices eased after a ceasefire agreement was reached. According to PANews, oil prices have fallen to around $70 a barrel from $100 about a month ago.
Major U.S. stock indexes are set to close out a solid first half of the year next week. The S&P 500 is up more than 7% so far in 2026, though equities faced a more difficult period in June.
Gold prices saw sharp volatility this week. Early dip-buying and safe-haven demand shifted into another round of heavy selling amid stronger-than-expected U.S. economic data, persistent inflation, a stronger U.S. dollar, and rising expectations for Federal Reserve rate hikes, pushing gold back near the $4,000 level. In a late surge, gold rebounded to the edge of $4,100.

The fragile 60-day ceasefire between the US and Iran has come under its most serious threat yet, just one week after the memorandum of understanding was signed in Geneva. US Central Command announced Friday that American aircraft struck Iranian missile and drone storage sites and coastal radar installations — calling it "a powerful response to yesterday's attack" — after a Singapore-flagged container ship was hit by an Iranian drone in the Strait of Hormuz on Thursday. Iran vowed to respond.
What Happened: The Ever Lovely Attack and the US Retaliation
On Thursday, the Singapore-flagged container ship Ever Lovely sustained damage from what the US characterized as a one-way Iranian attack drone in the Strait of Hormuz. President Trump said Friday that "I don't like the fact that they took a shot. They shouldn't be doing that." He described Iran as sending "at least four" one-way attack drones at ships in the strait, with one "solidly hitting the upper deck of a large and very expensive" cargo ship.
Trump called the drone attack "a foolish violation of our Ceasefire Agreement" in a social media post before CENTCOM announced the retaliatory strikes. American aircraft hit Iranian missile and drone storage sites as well as coastal radar installations — the same categories of target that have been struck in prior escalation cycles throughout the February-June conflict. Iran's Islamic Revolutionary Guard Corps claimed its "naval and air forces successfully repelled the attack."
Why This Threatens the Ceasefire More Than Prior Incidents
The exchange is different from prior escalation episodes in one critical way: it occurred after the June 19 memorandum of understanding was formally signed, not during the negotiation process. Every prior ceasefire collapse this year — the April breakdown and the June 9 strikes that broke the second truce — happened before a formal agreement was in place. This incident tests whether a signed memorandum creates any additional deterrence, or whether the underlying conflict dynamics that produced those prior collapses are still fully operational.
Trump had explicitly stated since the signing that he would resume military action against Iran if it violated the agreement's terms — which provide for freedom of navigation through the Strait of Hormuz and nuclear talks in exchange for sanctions relief. Friday's CENTCOM strikes demonstrate he was willing to follow through. Iran's drone attack equally demonstrates that Tehran is seeking to maintain control of the waterway even under the ceasefire framework, reinforcing its repeated position that ships cannot pass Hormuz without Iranian permission.
The two sides also continue to clash over provisions not yet resolved in the 60-day negotiation window — including whether Iran will impose tolls or fees on ships transiting Hormuz. Oman told European officials that vessels may ultimately face charges to use the strait, a development that would fundamentally alter the economics of the Hormuz reopening that oil markets have been pricing in since the deal was announced.
The Specific Risk: How Much Will This Slow Hormuz Normalization
The most consequential near-term question is how much Friday's military exchange will slow the restoration of shipping traffic through Hormuz to pre-war levels. Ships continued to transit through the narrow corridor earlier Friday despite the drone attack — suggesting commercial operators had not yet fully suspended operations. But the drone attack rattled confidence among shipowners and crews, and a handful of tankers turned around on Thursday after reportedly receiving warnings from the Iranian Navy.
CENTCOM stated Friday that it would "continue to provide safe passage coordination and support to commercial vessels transiting the strait" and that the US military "remains present and vigilant to ensure all aspects of the agreement with Iran are adhered to, obeyed, and in full force and effect." The gap between that stated commitment and Iran's demonstrated willingness to strike vessels in the same week is the uncertainty that oil and risk markets must now price.
What It Means for Markets, Oil, and Crypto
Bitcoin has been burned twice before by collapsed ceasefires — the April breakdown and the June 9 strikes each caused BTC to give back its entire relief rally. Markets have learned from that pattern and had already been cautious about pricing in the June 19 deal fully. The Reuters poll this week showed economists expecting no Fed rate cuts through end of 2027 — a consensus partly built on the assumption that oil-driven inflation would remain elevated longer than initially hoped.
Friday's exchange directly threatens the oil price decline that was the primary mechanism through which the Iran deal was supposed to ease inflation and eventually shift Fed policy. Brent crude had fallen from $92 toward $77 following the deal announcement. If Hormuz normalization stalls or reverses, that oil price decline reverses with it — keeping the inflationary pressure that has driven six consecutive weeks of Bitcoin ETF outflows and a hawkish Fed dot plot firmly in place rather than easing as the deal's disinflationary channel was expected to deliver.
Washington and Tehran were able to finalize the June 19 memorandum despite trading strikes in the leadup to signing — suggesting the conflict's underlying negotiating dynamic may survive this exchange as well. But the pattern of alternating military action and diplomatic progress that has defined this conflict since February 28 is showing no signs of ending even after a formal agreement has been reached, and each escalation cycle resets the market's confidence in the deal's durability from a lower baseline.

The FBI urged victims of the OneCoin cryptocurrency fraud to apply for government compensation before the June 30, 2026 deadline, with more than $40 million in forfeited assets still available. According to BeInCrypto, the Department of Justice launched the remission claims process on April 13, and eligible investors can file petitions online, by mail, or by email via onecoinremission.com, the only authorized portal.
OneCoin, launched in 2014 from Sofia, Bulgaria by co-founders Ruja Ignatova and Karl Sebastian Greenwood, drew investors globally; victims lost more than $4 billion. Greenwood was sentenced to 20 years in September 2023, while Ignatova remains on the FBI Ten Most Wanted list.

Swiss Financial Market Supervisory Authority (FINMA) Chair and International Organization of Securities Commissions (IOSCO) Chair Marlene Amstad said regulators are accelerating the adoption of artificial intelligence and regulatory technology tools, including tools aimed at supervising crypto markets. According to Foresight News, Amstad said FINMA has developed a real-time crypto monitoring dashboard that combines quarterly crypto-asset figures reported by institutions with daily market prices.
She said the dashboard is designed to help identify cases where a single institution’s crypto exposure becomes overly concentrated, as well as operational risks that can arise when tokens are concentrated on a single blockchain.
Amstad also said FINMA is developing generative AI tools to scan regulatory documents ahead of on-site inspections and flag anomalies. She added that recommendations produced by the first AI tool would be reviewed by a second AI tool before being passed to supervisory staff.

Following the devastating earthquakes that struck northern Venezuela on June 25, 2026, Binance Charity is donating $3 million in 20 USDT token vouchers to affected users and waiving all P2P transaction fees and Binance Pay merchant fees in Venezuela for seven days through July 2, 2026.
Who is eligible
Users in the hardest-hit regions — La Guaira, Distrito Capital, Miranda, Aragua, Carabobo, Falcón, and Yaracuy — who completed Proof of Address and eKYC verification before June 26, 2026 will each receive 20 USDT in token vouchers, redeemable through the Rewards Hub.
Existing users who have not yet completed Proof of Address can still qualify. Those who complete POA between June 26 and July 10, 2026 at 23:59 UTC-3 will also receive 20 USDT, subject to the total donation allocation. Funds will be distributed within a maximum of 30 days from the date of POA completion.
Fee waivers
All P2P transaction fees and Binance Pay merchant transaction fees in Venezuela are waived for seven days, ending July 2, 2026 at 23:59 UTC-3. The P2P fee waiver applies to all VES-denominated transactions.
Users in affected areas are encouraged to check their Rewards Hub and complete Proof of Address verification as soon as possible to secure their allocation before the July 10 deadline.

Wall Street rotated out of semiconductors into the broader equity market this week, the equal-weight S&P 500 hit an all-time high, and not a dollar of it found its way into crypto. Dogecoin fell 9.6%. HYPE lost 9.9%. Bitcoin dropped 5.3% to $60,345 after testing $58,800 on Friday before recovering. The money leaving chip stocks spread across equities. Crypto caught none of it.
What the Weekly Numbers Actually Show
The damage across major tokens was broad and consistent. Ether dropped 8.4% to approximately $1,581 — its third consecutive week of underperformance relative to Bitcoin. XRP fell 7.8% to $1.06. Dogecoin slid 9.6% to $0.076. HYPE lost 9.9% — the worst weekly performance among majors and a continued reversal from the 143% year-to-date gain that had made it 2026's standout crypto performer. Solana and Tron were the exceptions, holding roughly flat on the week at $72 and $0.32 respectively.
Bitcoin's relative steadiness at $60,345 — down 5.3% versus Ether's 8.4% and HYPE's 9.9% — reflects the structural difference between the asset with the deepest long-term holder base and those without comparable accumulation floors. Bitcoin approached $58,000 at its lows late Thursday and early Friday before recovering aggressively in both instances.
Why Bitcoin Keeps Bouncing From $58,000 and Why That May Not Be Enough
"Bitcoin approached $58K at its lows late Thursday and early Friday, but in both cases, aggressive buying quickly pushed it back into the $60K range," said Alex Kuptsikevich, FxPro chief market analyst. "This pattern resembles margin position liquidations during downtrend spikes, followed by strong buying on pending orders during the recovery."
The $58,000-$60,000 zone has now been tested multiple times throughout June without breaking definitively lower — a pattern CF Benchmarks' Gabe Selby described as historically significant, noting the $50,000-$60,000 range is "where buyers have always stepped in" based on every prior Bitcoin bear market. The 200-week moving average sits at approximately $62,457 — a long-term line that has marked extended weak stretches before eventually providing the launchpad for sustained recovery.
The caveat Kuptsikevich added is important: "Given deteriorating sentiment among institutional investors and their ability to quickly divest from cryptocurrencies to stabilize their balance sheets, it is worth preparing for continued pressure and periodic sell-off spikes by leveraged traders." Floor-holding and floor-confirmation are two different conditions — and the sixth consecutive week of Bitcoin ETF outflows confirms the floor is being held by on-chain buyers rather than by a return of institutional demand.
Why the AI Rotation Is Lifting Everything Except Crypto
The equity market dynamic this week was constructive in aggregate — just not for digital assets. Semiconductor shares took another leg lower after a run that still left them on track for their best quarter ever. The money rotating out of chip stocks spread across the broader S&P 500 rather than out of risk altogether. Consumer staples, industrials, and previously ignored S&P 500 members — the companies left behind during the AI concentration trade — absorbed the capital that left semiconductors. The equal-weight S&P 500 hit a record high as a result.
The AI optimism is not disappearing. It is evolving. The idea that chip stocks only go up is fading. But the capital rotation is staying firmly within equities. Crypto is not an alternative destination for that capital — it is an entirely different risk category that is competing with Treasury bills yielding 4.5% in a world where the Reuters poll consensus now expects no Fed rate cuts through end of 2027.
What to Watch: The Three Signals That Would Change the Picture
The structural drags identified throughout June remain fully intact. US spot Bitcoin ETF outflows extended to a sixth consecutive week — Thursday alone saw $696 million in net redemptions with no fund posting meaningful inflows. The Federal Reserve's hawkish dot plot showing 9 of 18 officials projecting 2026 rate hikes has not been walked back. The dollar index above 101 tightens global financial conditions. And Bitcoin is sitting on its 200-week moving average — a level that has historically preceded recovery but provides no timing signal on its own.
Three specific developments would change the picture heading into July. A soft core PCE reading that validates Standard Chartered's thesis that inflation peaked in Q2 following the Iran deal. A sustained return of positive daily Bitcoin ETF inflows — not isolated days but a consecutive multi-session streak. And Bitcoin closing a weekly candle above $62,000-$63,000 — the resistance Selby identified as the level bulls need to reclaim to shift the technical structure. Until at least one of those three materializes, the equal-weight S&P 500 hitting records while crypto grinds near cycle lows is the defining cross-asset divergence that begins H2 2026.

Solana's SOL recovered 14% from Thursday's $64 low to $72 on Friday, driven by tokenized stock trading optimism and futures positioning that turned positive for the first time in weeks. The move looks constructive on the surface. But TVL is down 11% in a month, weekly DEX volumes have collapsed from $30 billion to $10 billion since February, and 30% of the network's DApp revenue comes from a single memecoin launch platform. The rally may be real. The structural recovery behind it has not yet been confirmed by the data.
Why Did SOL Jump 14% in 24 Hours
Two catalysts drove Friday's move. Tokenized stocks on Solana traded over $113 million in 24 hours according to Jupiter Aggregator — a figure reflecting genuine demand for on-chain equity exposure following the SpaceX IPO's pre-trading momentum on crypto-native platforms and the broader AI sector growth narrative. Demand for bullish leverage on SOL futures simultaneously pushed the annualized funding rate to its highest level in June at approximately 10% — reversing the negative funding that had marked Thursday's $64 low and confirming that leveraged traders repositioned aggressively on the bounce.
Airdrop anticipation added to the optimism. OnRe reinsurance holds $200 million in TVL on Solana. Bulk perpetual DEX has $325 million in aggregate open interest. Loopscale lending sits at $79 million in TVL. The timing of those token launches remains uncertain, but the pipeline represents a meaningful source of potential near-term demand that traders are positioning around.
Why Solana's TVL Is Falling Despite the Tokenized Stock Rally
The structural picture beneath Friday's bounce tells a more cautious story. Solana's total value locked dropped 11% over the past month while Ethereum layer-2 Base narrowed the gap. Protocol-level declines include a 19% TVL reduction in Kamino, a 20% drop in Binance Staked SOL, and a 17% decline in Raydium. The tokenization platform xStocks posted 31% TVL growth — the one constructive data point in an otherwise declining picture.
Weekly DEX volumes have collapsed from approximately $30 billion in early February to approximately $10 billion — a two-thirds reduction that reflects both the broader crypto bear market and a specific decline in the on-chain activity that defined Solana's 2025 growth narrative. DApp revenues have followed the same downward trend. The tokenized stock volumes are not yet translating into the kind of sustained network processing demand that would justify a structural re-rating of SOL.

Why Solana's Revenue Concentration in Pump.fun Is a Structural Risk
The most important structural vulnerability in Friday's optimism is Solana's dependence on Pump.fun — the memecoin launch platform that accounted for 30% of DApp revenue on the network in Q1. Pump.fun's revenue is cyclical by design: it depends on memecoin activity that has been in a documented slowdown. A CoinGecko report found 80% of the 18.7 million tokens launched on the platform did so in under 48 hours. Dune data showed 55% of addresses involved lost up to $1,000.
A network generating 30% of its application revenue from a memecoin launch platform with sub-48-hour token lifespans carries a fragility that $113 million in 24-hour tokenized stock volumes cannot yet offset — particularly when those volumes depend on thin automated market-maker liquidity and nascent holder bases that have yet to demonstrate durability.
Can SOL Reclaim $80? What the Competition Says About the Ceiling
Reclaiming $80 — last seen on June 1 — requires more than a one-day tokenized stock volume figure. Hyperliquid has established itself as the dominant venue for perpetual futures tied to traditional assets, with SpaceX perp open interest of $812 million making it the sixth-largest perp market globally. Centralized exchanges and competing blockchains are simultaneously launching tokenized stock products, meaning Solana's first-mover advantage in on-chain equity exposure is not durable without a sustained liquidity advantage that current pool sizes do not demonstrate.
The path to $80 requires a reversal in TVL and DEX volume trends that have been deteriorating for months, a reduction in Pump.fun revenue concentration, and a liquidity depth in tokenized stock pools sufficient to compete with Hyperliquid's infrastructure advantages. Friday's funding rate turning positive and the tokenized stock narrative gaining traction are necessary preconditions. They are not yet sufficient ones.

Gavekal Research said a scenario in which U.S. President Donald Trump pressures the Federal Reserve to cut interest rates, keeping inflation persistently above the Fed’s 2% target, is unlikely.
According to Jin10, the firm said in a report that markets in 2025 broadly worried Trump would weaken the independence of U.S. monetary policy by nominating a political proxy as Fed chair, forcing rate cuts and leaving inflation above the 2% goal.
Gavekal Research said developments over the past seven months have made that outcome less likely. It cited the appointment of Kevin Warsh to lead the Federal Reserve and the reappointment of 11 of the 12 regional Federal Reserve Bank presidents.
At Warsh’s first meeting as chair earlier this month, the Fed emphasized its commitment to price stability, surprising some market participants who had expected a more dovish stance under the new leadership.

Bitcoin found footing near $60,000 on Friday after the week's sharp selloff, but the biggest gains came from DeFi and the Solana ecosystem. Aave jumped 19% on Kraken acquisition talks and a founder hint at automated token buybacks. SOL climbed nearly 10% as tokenized stock trading volume topped $2.5 billion through the week — ten times higher than a month ago — giving Solana more than 80% share of tokenized equity trading across all blockchains.
Why AAVE Jumped 19% in 24 Hours
Two catalysts combined to drive Aave's outperformance. CoinDesk reported Thursday that crypto exchange Kraken is exploring a strategic investment — acquiring a 15% stake in the DeFi lending protocol at a $385 million valuation. The news alone would have been significant for any DeFi protocol. What amplified it was the response from Aave founder Stani Kulechov, who pushed back in an X post against suggestions that Aave assets could be sold at a steep discount — reiterating that all protocol revenue, currently running at an annualized $134 million, flows to the Aave DAO and ultimately benefits AAVE token holders under the recently adopted "Aave Will Win" framework.
Kulechov also teased "Aavenomics 3.0" — an upcoming overhaul for the token's design that will introduce an automated buyback mechanism. The combination of a named institutional buyer at a specific valuation, a founder defending the protocol's revenue-sharing model, and a concrete upcoming catalyst in the form of token buybacks gave AAVE a rare convergence of fundamental drivers that most DeFi tokens lack in the current environment.
Why Solana's Tokenized Stock Momentum Is Accelerating
SOL's 10% Friday gain reflects a structural shift in Solana's use case that is becoming increasingly difficult to dismiss as a short-term narrative. Tokenized stock trading volume through the Solana ecosystem topped $2.5 billion this week — ten times higher than a month ago — according to RWA.xyz data, giving the network more than 80% share of tokenized equity trading across all blockchains.
That dominance in tokenized equities is building a fundamentally different demand profile for Solana than the memecoin-and-NFT narrative that characterized its 2024-2025 cycle. Tokenized stocks generate sustained, economically motivated trading volume that is less dependent on speculative sentiment cycles than memecoin activity — though the Pump.fun concentration risk identified earlier this week remains a structural caveat for the network's overall revenue diversification.
Which Solana Ecosystem Tokens Moved and Why
The tokenized stock volume surge lifted several Solana DeFi tokens tied specifically to trading infrastructure. JTO — the native token of Jito, which operates Solana's largest liquid staking protocol and unveiled a new trading platform last month — soared 30%, the strongest gain in the ecosystem. Raydium and Meteora, both Solana-based decentralized exchanges that process tokenized stock trading flows, each gained approximately 7%. Kamino Finance, the Solana lending and liquidity protocol, advanced 9%.
The pattern across these gainers is consistent: the tokens that moved most were those most directly connected to the infrastructure layer that processes and finances tokenized stock trading on Solana — staking, exchange liquidity, and lending protocols that benefit from increased on-chain economic activity regardless of the specific asset being traded.
What to Watch: Whether the DeFi Momentum Extends Into July
Friday's AAVE and SOL outperformance arrived against a backdrop of Bitcoin steadying near $60,000 — not rallying, but not declining further either. The broader crypto market remains under pressure from six consecutive weeks of Bitcoin ETF outflows, a hawkish Fed dot plot, a Reuters poll consensus of no rate cuts through 2027, and a dollar index above 101. Those headwinds have not resolved.
What has changed is the emergence of protocol-specific and ecosystem-specific narratives — Kraken's Aave investment, Aavenomics 3.0 buybacks, and Solana's tokenized stock dominance — that are generating genuine fundamental demand independent of macro conditions. The question heading into July is whether these narratives have enough momentum to sustain gains through a macro environment that remains structurally hostile to broad crypto risk appetite, or whether they represent temporary relief rallies within the ongoing bear market that the weekly performance data.

Fidelity Digital Assets has rejected concerns that Bitcoin’s long-term security will weaken as mining rewards shrink, saying the network’s incentive structure can remain strong even as block subsidies decline. According to Cointelegraph, a new research report authored by Fidelity research analyst Daniel Gray argues that Bitcoin’s security is supported by more than block rewards, pointing to transaction fees, market incentives, and other economic forces that encourage miners to keep securing the blockchain and make sustained attacks prohibitively expensive.
The report challenges a longstanding criticism that each quadrennial halving undermines Bitcoin’s security by reducing new coin issuance, potentially eroding miners’ incentives unless transaction fees rise enough to compensate. The debate remains a central long-term question for Bitcoin (BTC), which follows a fixed supply schedule that gradually reduces issuance until block subsidies eventually disappear. Since April 20, 2024, miners have received a subsidy of 3.125 BTC per block, down from 6.25 BTC in the prior halving cycle. Gray said lower issuance has not translated into weaker incentives because Bitcoin’s rising price has more than offset the decline in block rewards. He cited average daily miner revenue growth from roughly $26,300 during Bitcoin’s first halving cycle to more than $40.2 million today, writing that miner incentives—and by extension network security—have historically strengthened alongside Bitcoin’s price.
While Fidelity’s report maintains that Bitcoin’s long-term incentive structure remains intact, publicly traded mining companies are facing near-term financial pressure. Some industry analysts have described the current environment as among the most challenging on record, citing lower mining rewards, rising costs, and intensifying competition. In response, several miners have diversified into artificial intelligence and high-performance computing, using existing power infrastructure and data center assets to serve demand for AI workloads rather than relying solely on Bitcoin mining.
A recent VanEck report estimated that publicly traded miners could require up to $50 billion in additional capital to fully transition to AI infrastructure, highlighting the scale of the shift. Blocksbridge Consulting, writing in a Miner Weekly publication, said Bitcoin mines can operate with relatively simple buildings, modular infrastructure, and ASIC fleets that tolerate fast curtailment, while AI and HPC facilities require higher standards for uptime, cooling, electrical redundancy, networking, and customer support.

According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.08T, up by 1.53% over the last 24 hours.Bitcoin (BTC) traded between $58,500 and $60,583 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $60,415, up by 1.77%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include AGLD, PIVX, and PUNDIX, up by 54%, 47%, and 26%, respectively.Bitcoin Is Sitting on the Same Line That Launched Every Major Rally of the Past Decade — While Iran Breaks the Ceasefire and AAVE Surges 19%Bitcoin is holding near $60,000 — below the 200-week SMA at $63,500 that has marked the accumulation window at every major cycle bottom since 2015. The setup is historically significant. The timing remains uncertain. And the week's two biggest stories pulled in opposite directions: the Iran ceasefire broke down just one week after the MOU was signed, while AAVE jumped 19% and Solana tokenized stock volume hit $2.5B — ten times higher than a month ago.Bitcoin fell 5.3% on the week, DOGE lost 9.6%, HYPE dropped 9.9% — but the equal-weight S&P 500 hit an all-time high and not a dollar of the chip-stock rotation found its way into crypto. SpaceX joins the Nasdaq 100 on July 7, bringing an estimated $4.3B in forced passive inflows. H2 begins with the floor holding and the macro permission slip still absent.Every Major Bitcoin Bottom for a Decade Has Come Near the 200-Week SMA — History Says the Window Is Open Right NowKey Takeaways:The 200-week SMA at ~$63,500 has marked the macro accumulation zone at every major Bitcoin cycle bottom since 2015 — August 2015 (led to +8,500%), December 2018 (+267%), March 2020 (+1,125%), June 2022 (+680% from the eventual low); Bitcoin is currently trading below it near $60,000Ali Charts calls this a "macro-level accumulation window" — each time Bitcoin has touched or broken below the 200-week SMA, investors who accumulated at or below that level were rewarded with the next bull cycle's full upside; the $63,500 level is described as the "bull-bear dividing line"Downside risks are explicitly quantified: a pullback to $54,000 (near the $53,600 realized price) is described as possible near-term; in extreme scenarios, $40,000 cannot be ruled out — a further 33% decline; the suggested approach is phased DCA between $58,000 and $40,000The June bottom signal cluster: CryptoQuant cycle momentum at -30 (historical bottom zone), Sharpe ratio at -20 (matched 2015, 2018-19, 2022-23 lows), RHODL rolling over from peak, 79% of supply in LTH hands, Glassnode ATS at 1.0 for weeks, 259,000 BTC accumulated at $59K–$67K since June 5The one missing piece: Bitcoin needs to reclaim and hold $63,500 as confirmed support to signal the early stages of a new bull cycle — that confirmation has not yet arrivedSummary:Every structural signal says the accumulation window is open. The 200-week SMA has a perfect track record across four bear markets and a decade. What history cannot provide is a timing signal — the 2022 breakdown saw Bitcoin stay below the SMA for six months before recovering. The message from the data is consistent: this is where long-term buyers have always been rewarded. Whether the floor holds at $58,000–$60,000 or extends toward $54,000 first is the near-term unknown. The window's existence is not.The US-Iran Ceasefire Is Already Breaking Down — Military Strikes Resume One Week After the Deal Was SignedKey Takeaways:A Singapore-flagged container ship (Ever Lovely) was struck by an Iranian drone in the Strait of Hormuz on Thursday; US aircraft retaliated Friday, hitting Iranian missile storage sites, drone facilities, and coastal radar installations — the first military exchange since the June 19 MOU was signedTrump called the attack "a foolish violation of our Ceasefire Agreement"; CENTCOM said it would "continue to provide safe passage coordination" — but the gap between that stated commitment and Iran's demonstrated willingness to strike vessels in the same week is the uncertainty markets must now priceThis breakdown is structurally different from prior ceasefire collapses: it occurred after a formal agreement was signed, not during negotiations — testing whether the MOU creates any additional deterrence or whether the underlying conflict dynamics are still fully operationalUnresolved: Iran and Oman signaled vessels may face transit tolls or fees through Hormuz — which would fundamentally alter the economics of the "Hormuz reopening" that oil markets had been pricing as the primary disinflationary catalyst for H2 2026Brent had fallen from $92 toward $77 following the deal; if Hormuz normalization stalls, that oil decline reverses — keeping the inflationary pressure driving six consecutive weeks of Bitcoin ETF outflows and the hawkish Fed dot plot firmly in placeSummary:Bitcoin has given back its entire relief rally twice before when ceasefires collapsed — April and June 9. Markets had already been cautious about fully pricing the June 19 deal. Friday's exchange doesn't mean the deal is dead — Washington and Tehran finalized the MOU while trading strikes in the lead-up to signing. But each escalation cycle resets market confidence from a lower baseline, and the prospect of Hormuz tolls replacing the blockade is a scenario that would preserve oil's inflation premium even after formal conflict ends.Dogecoin and HYPE Drop 10% to Lead Weekly Crypto Losses — Bitcoin Holds $60,000 as AI Rotation Bypasses Digital Assets EntirelyKey Takeaways:Bitcoin -5.3% on the week to $60,345; ETH -8.4% to ~$1,581; XRP -7.8% to $1.06; DOGE -9.6%; HYPE -9.9% (worst among majors, reversing its 143% YTD lead); SOL and TRX the only major tokens roughly flat on the weekThe equal-weight S&P 500 hit an all-time high this week as capital rotated out of semiconductor stocks into broader equities — consumer staples, industrials, previously ignored S&P members all absorbed the chip-stock outflows; not a dollar found its way into cryptoFxPro's Kuptsikevich: Bitcoin's $58K tests "resemble margin liquidation spikes followed by buying on pending orders" — floor-holding and floor-confirmation are two different conditions; the sixth consecutive week of ETF outflows confirms on-chain buyers are holding the floor, not institutional demand returningThree signals that would change the picture: soft core PCE validating Q2 inflation peak; sustained consecutive daily Bitcoin ETF inflows; Bitcoin weekly close above $62,000–$63,000 — none of the three has materialized yetSummary:The equal-weight S&P hitting records while crypto grinds near cycle lows is the defining cross-asset divergence that begins H2 2026. The AI rotation is not disappearing — it is evolving, spreading from chip stocks into the broader equity market. Crypto is not an alternative destination for that capital; it is competing with 4.5% Treasury yields and a Reuters poll consensus of no Fed cuts through 2027. The floor is holding. The bid that turns a floor into a launch still hasn't shown up.AAVE and the Solana Ecosystem Lead Crypto's Friday Rebound — Bitcoin Steadies Near $60,000 While DeFi Takes the LeadKey Takeaways:AAVE jumped 19% in 24 hours on two catalysts: Kraken exploring a 15% strategic stake at a $385M valuation, and founder Stani Kulechov teasing "Aavenomics 3.0" — an automated token buyback mechanism on top of $134M in annualized protocol revenue flowing to AAVE holdersSolana gained ~10% Friday as tokenized stock trading volume topped $2.5B for the week — 10x higher than a month ago, giving the network more than 80% share of all tokenized equity trading across blockchainsSolana ecosystem tokens led by JTO (+30%), Raydium (+7%), Meteora (+7%), Kamino (+9%) — all directly connected to the infrastructure layer processing tokenized stock trading flows: staking, DEX liquidity, and lending protocols benefiting from increased on-chain economic activityThe AAVE and SOL moves illustrate the week's clearest theme: specific, fundamental catalysts (real business development, measurable volume metrics) outperform narrative-led assets in broad risk-off markets; these were the week's two genuine fundamental storiesSummary:AAVE's 19% gain on a named buyer at a specific valuation plus a concrete upcoming tokenomics catalyst is exactly what DeFi has been missing — a real fundamental story rather than macro narrative dependency. Solana's tokenized stock dominance at 80% market share with 10x monthly volume growth is building a use case that generates sustained economic activity independent of speculative sentiment. Both moves suggest the DeFi and RWA sectors are developing genuine fundamental legs — the question heading into July is whether those legs are strong enough to hold against a macro environment that remains structurally hostile to broad crypto risk appetite.SpaceX to Join the Nasdaq 100 Index on July 7, 2026Key Takeaways:SpaceX will be added to the Nasdaq 100 on July 7 — less than a month after its June 12 Nasdaq debut; JPMorgan estimates the inclusion will draw ~$4.3B in forced passive inflows as ETFs tracking the index (including Invesco's QQQ and QQQM) must buy SPCXNasdaq, FTSE Russell, and MSCI all relaxed entry requirements covering profitability, days since IPO, and free-float to accommodate SpaceX — S&P Global declined to adjust its requirements and will wait at least 12 months before considering SpaceX for S&P 500 inclusionSpaceX holds 18,712 BTC (~$1.1B at current prices) — every QQQ holder gains indirect Bitcoin exposure when SPCX is added to the index; Morningstar's Michael Field considers the stock overvalued but notes the fast-tracked inclusion reflects strong demandContext for the AI IPO pipeline: OpenAI and Anthropic are both expected to file for IPOs targeting $1T+ valuations this year or next — the same passive index absorption mechanism that will drive $4.3B into SpaceX will eventually apply to each of themSummary:SpaceX in the Nasdaq 100 means $4.3B in forced buying from the world's most widely held index ETF — a structural demand event that doesn't require a single investor to make a discretionary decision. For Bitcoin specifically, every QQQ holder becomes an indirect Bitcoin holder when SPCX is added on July 7, extending Saylor's "Mag8" thesis through passive index mechanics. The S&P 500's refusal to fast-track inclusion keeps the bigger prize out of reach for now — but the Nasdaq 100 addition alone is the clearest example yet of how SpaceX's public listing is pulling Bitcoin exposure deeper into mainstream institutional portfolios without anyone explicitly choosing crypto.Market movers:NVDAB: $193.47 (+0.07%)SPCXB: $154.15 (+2.36%)MUB: $1136.35 (-1.91%)TSLAB: $380.38 (+2.64%)AMDB: $520.08 (+1.44%)INTCB: $127.86 (-0.62%)SNDKB: $2097.15 (-4.81%)ETH: $1580.78 (+1.16%)BNB: $564.35 (-0.53%)XRP: $1.0558 (+1.81%)

France demolished Norway 4-1 to seal top spot in Group I, with Ousmane Dembele netting a stunning 32-minute hat-trick. Senegal thrashed 10-man Iraq 5-0 to keep their knockout hopes alive. Cape Verde held Saudi Arabia 0-0 to reach the last 32 as historic underdogs. Spain edged Uruguay 1-0, knocking the two-time winners out. Egypt and Iran drew 1-1, sending Egypt through as Group G runners-up. Belgium crushed New Zealand 5-1 to qualify from Group G.

Ousmane Dembele delivered the second-fastest hat-trick in World Cup history, scoring three times inside 32 minutes as France cruised past a rotated Norway side to finish top of Group I with a perfect nine points. Dembele opened the scoring in the seventh minute, curled in a second in the 20th, and completed his treble nine minutes before the break with a stunning team goal involving 17 passes. Thelo Aasgaard briefly pulled one back for Norway, but Desire Doue added a fourth in stoppage time. Norway, who rested Erling Haaland, finish second and advance to the knockout stage.

Senegal kept their knockout hopes flickering with a 5-0 demolition of 10-man Iraq in Toronto. Abdoulaye Seck's deflected header opened the scoring inside four minutes before defender Rebin Sulaka was sent off for denying Sadio Mane a goalscoring opportunity. Ismaila Sarr made it 2-0 after the break, and substitute Pape Gueye struck twice with thunderous efforts in the 59th and 71st minutes. Iliman Ndiaye sealed the rout late on. Senegal finish third in Group I and must wait on other results to see if they progress.

Cape Verde made history as the first African debutants since Ghana in 2006 to reach the World Cup knockout stage after a goalless draw with Saudi Arabia. The Blue Sharks, ranked 67th in the world, had already drawn with Spain and Uruguay in a remarkable group campaign. They celebrated at full-time when news of Uruguay's defeat confirmed their passage. A nation of just 525,000 people, Cape Verde will face Argentina in the last 32. Saudi Arabia's tournament ends with a single point.

Uruguay crashed out of the World Cup after a 1-0 defeat to Spain, with goalkeeper Fernando Muslera's third error-leading-to-goal of the tournament gifting Alex Baena the decisive strike on the cusp of halftime. The 40-year-old, making his 137th international appearance, let Baena's low shot slip through his hands and was substituted at the break by a ruthless Marcelo Bielsa. Spain topped Group H and progress, while Uruguay finish with two points from three games and exit at the group stage for the second straight tournament. Agustin Canobbio's stoppage-time red card for a high challenge compounded a miserable night.

Egypt reached the World Cup knockout stage for the first time after a 1-1 draw with Iran in Seattle. Mahmoud Saber gave Egypt a first-half lead before Milad Rezaeian levelled after the break. Iran thought they had won it in the dying seconds through Shoja Khalilzadeh, but the goal was ruled out for offside after a VAR review. Mohamed Salah was substituted in the second half with progression already likely secured. Egypt finish as Group G runners-up and will face Australia in the last 32. Iran finish third and face an anxious wait for other results.

Belgium surged into the knockout stages with a 5-1 thrashing of New Zealand in Vancouver. Leandro Trossard struck twice in the first half, and Kevin De Bruyne added a third with a trademark low finish after the break. Elijah Just pulled one back for New Zealand, but Romelu Lukaku, on the pitch barely a minute, headed a fourth before Alexis Saelemaekers added a fifth in stoppage time. Belgium finish level on points with Egypt at the top of Group G but must wait to confirm whether they finish first or second.

Upcoming Matches for June 27 (all times ET):
5PM Panama vs England (MetLife Stadium, New Jersey)
5PM Croatia vs Ghana (Lincoln Financial Field, Philadelphia)
7:30PM Colombia vs Portugal (Hard Rock Stadium, Miami)
7:30PM DR Congo vs Uzbekistan (Mercedes-Benz Stadium, Atlanta)
10PM Jordan vs Argentina (AT&T Stadium, Dallas)
10PM Algeria vs Austria (Arrowhead Stadium, Kansas City)

Ripple CEO Brad Garlinghouse went on CNBC Friday to separate two things the market has been treating as one: Bitcoin the asset, which he says he remains bullish on, and Michael Saylor's preferred stock accumulation model, which he says has hurt the broader crypto market. "Financial engineering does not drive long-term value," Garlinghouse said. "Team Michael Saylor wasn't focused on the right stuff and that has hurt the overall market." STRC, the preferred stock at the center of Strategy's model, fell to a record low the same day — 26% below its intended $100 par value — while MSTR common stock closed around $82, its lowest since February 2024.
What Is Strategy's Funding Model and Why Is It Under Pressure
For approximately a year, Strategy has issued preferred shares — a class of stock that pays a fixed dividend — to raise cash for Bitcoin purchases. STRC carries an 11.5% annual dividend and was engineered to trade near $100. The mechanism works as long as STRC holds near par: Strategy issues new preferred shares, raises cash, buys Bitcoin, and the cycle repeats. When STRC falls below par, the engine stalls — new issuances at acceptable terms become impossible. Strategy has already paused its Bitcoin buying program for exactly this reason.
CryptoQuant reported this week that the cushion behind STRC's dividend payments has thinned from more than seven years of coverage to approximately 14 months — a deterioration driven by Bitcoin trading at $59,000 versus Strategy's average purchase cost of approximately $75,656, creating over $14 billion in aggregate unrealized losses on the treasury that backs the preferred structure.
Why Garlinghouse Calls It a "Damning Indictment"
Garlinghouse pointed to STRC at 25% below par as concrete evidence that the financial engineering thesis has failed on its own terms. His argument is structural: a funding mechanism that depends on a preferred stock maintaining near-par pricing is fragile by design — when the underlying asset declines, the mechanism seizes, the buying stops, and the overhang of a potential forced seller enters the market regardless of whether actual selling occurs. "Financial engineering does not drive long-term value," he said, arguing the lasting value of any digital asset must come from its usefulness rather than from capital structure complexity.
Michael Saylor addressed the market Friday with a brief post on X: "Volatility tests every capital structure." It was his second measured public statement in as many weeks as STRC has continued declining. MSTR common stock has now fallen more than 85% from its November 2024 all-time high.
Why the Counterargument Matters
Benchmark-StoneX analyst Mark Palmer directly rejected Garlinghouse's implied framing, arguing that Strategy's funding engine has become "less efficient" rather than broken and explicitly dismissing comparisons between STRC and assets that have collapsed outright. Matt Cole of Strive made the same point when STRC first crashed to $82.50, characterizing the selloff as a leverage liquidation event rather than credit deterioration — a distinction that has so far been validated by STRC's partial recoveries from its worst intraday levels.
Marex's Ilan Solot had framed the structure with the most precision weeks earlier: "Strategy is now a fight over the capital waterfall — every move protects one stakeholder by torching another." That analysis neither validates Garlinghouse's financial engineering critique nor dismisses Palmer's less-efficient-not-broken view — it describes the inherent tensions of a complex preferred equity capital structure under Bitcoin price stress.
What This Means for Bitcoin and the Broader Market
Garlinghouse's argument that the model has "hurt the overall market" rests on a specific mechanism: the STRC overhang has introduced a perceived forced-seller risk into Bitcoin markets that amplifies every price decline with a narrative layer that would not exist if Strategy had accumulated Bitcoin through simpler means. Marex had identified exactly this dynamic — markets "openly pricing the tail that Strategy has to sell coins" — as a weight on Bitcoin sentiment through the June correction independent of pure macro headwinds.
What to Watch Next
June 30 brings two simultaneous Strategy events: the STRC ex-dividend date for the first $0.48 semi-monthly payment due July 15, and the monthly dividend rate reset that may lift the rate from 11.50% toward 12%-12.50% to partially close the gap between the stated rate and the 15% effective yield the market is currently pricing. Neither event resolves the structural question Garlinghouse raised. Only Bitcoin recovering above Strategy's $75,656 average cost basis would do that — making Thursday's core PCE, the continuing Iran deal trajectory, and the H2 macro outlook the variables that ultimately determine whether Garlinghouse's criticism proves prescient or premature.

South Korea’s KOSPI triggered its second circuit breaker in a single week after an 8.19% intraday plunge on Friday forced a 20-minute trading halt, dragging Wall Street, Tokyo and Tokyo-listed SoftBank lower. According to BeInCrypto, the Korea Exchange halted trading at 12:10 p.m. local time after the index stayed more than 8% below the prior close for at least one minute; the KOSPI hit 8,198.33 at the suspension and later closed down 5.81% at 8,411.21. Samsung Electronics fell 5.30% and SK Hynix slid 8.36%.

EMURGO said it has identified a recovery path for SecondFi users after an exploit drained about $2.4 million worth of ADA. According to NS3.AI, EMURGO CEO Phillip Pon said the recovery timeline is roughly two weeks.
SecondFi said external attackers took about 16 million ADA from 374 addresses. EMURGO did not provide additional details in the statement beyond outlining the recovery plan and expected timeline.

Hong Kong share sales surged to a five-year high in the first half of 2026 as investor enthusiasm around the artificial intelligence boom outweighed a sluggish equity market and regulatory headwinds, according to Bloomberg.

More than 120 A-share stocks were surveyed by institutions in the week of June 20-26, with Guangshengtang attracting the most attention, according to 36Kr. Guangshengtang was surveyed by 53 institutions, including six fund companies, six securities firms and eight private equity firms.
Shenghong Technology, Shenghong Co., United Chemical and Hengkun New Materials each received ratings from more than 20 institutions; Hengkun New Materials, Guangxin Materials and Dinglong Corp. were also cited as having exposure to the photoresist theme.
In market performance over the same week, institution-surveyed stocks fell by more than 2% on average, while Orient Tantalum, BOE A, Xinde New Materials and Huicheng Vacuum each rose by more than 10%.

Sydney posted its weakest weekend home auction clearance rate in more than six years as higher interest rates and property tax changes dampened activity and weighed on prices, according to Bloomberg.

European Central Bank Executive Board member Isabel Schnabel said she expects the ECB to raise interest rates further. According to Jin10, Schnabel made the remarks while discussing the outlook for the ECB’s monetary policy.

Aave has moved to automated AAVE buybacks under Aavenomics 3.0, following an earlier discretionary buyback program that purchased more than 205,000 AAVE.
According to NS3.AI, Aave governance also reduced the annual buyback budget to approximately $30 million from about $50 million.
The update is tied to the “Aave Will Win” framework, under which 100% of revenue from the Aave Protocol, GHO, and Aave-branded products is directed to the DAO treasury.

A Neuberger portfolio manager said the U.S. dollar could continue strengthening in the near term as U.S. real interest rates rise. According to ChainCatcher, Joseph Purtell said he expects the dollar to break out of the trading range it has held over the past six to nine months.
Purtell added that over the longer term the dollar may weaken, citing structural concerns including the fiscal sustainability of the U.S. government.

Yuma, an investment company backed by Digital Currency Group, has launched a new fund designed to give institutional investors diversified exposure to the Bittensor ecosystem as asset managers expand products tied to decentralized artificial intelligence. According to Cointelegraph, the Yuma Total Market Fund offers exposure to Bittensor’s native TAO token alongside a basket of AI-focused subnets through a single investment vehicle, aiming to simplify access without requiring investors to choose individual subnet tokens. The fund launched with seed capital from an undisclosed anchor investor.
Bittensor is a decentralized network that supports AI infrastructure and applications through specialized subnets spanning areas such as compute, marketplaces, and identity. Yuma said the network’s 128 subnets represent more than $900 million in combined value, though network tracker Taostats places the combined subnet value closer to $300 million. Institutional interest has increased alongside the subnet economy’s growth. In April, Grayscale raised TAO’s weighting in its Grayscale Decentralized AI Fund to 43% during a quarterly rebalance, though TAO’s allocation has since declined to about 20% while Near Protocol’s NEAR became the fund’s largest holding at roughly 44%. Asset managers have also pursued additional routes for investor access: Bitwise filed for a TAO Strategy ETF with the US Securities and Exchange Commission in April, and Grayscale submitted an amended registration statement to convert its Bittensor Trust into a spot TAO exchange-traded fund that would list on NYSE Arca if approved. Separately, attention on decentralized AI intensified after the US Commerce Department suspended public access to Anthropic’s Fable 5 and Mythos 5 models over national security and export control concerns. Grayscale head of research Zach Pandl said the move highlighted risks tied to centralized AI providers and added that demand for decentralized AI such as Bittensor and TAO could rise as investors seek alternatives. The restrictions appear to be easing: the Commerce Department restored access to Mythos 5 on Friday, and Axios reported Saturday that the Trump administration under U.S. President Donald Trump is expected to allow Anthropic to resume public access to Fable 5 as soon as next week.

Iran’s police forces said an estimated 30% to 35% of Iran’s population will take part in farewell, funeral procession, and burial ceremonies in July for Iran’s late supreme leader Ali Khamenei.
According to Jin10, the police estimate that about 15 million to 20 million people will attend the ceremonies in Tehran.
The estimate also puts attendance in Mashhad at about 3.5 million to 8 million people, and in Qom at about 3 million to 5 million people.

Mysten Labs, the developer behind Sui Network, released a long-term roadmap on June 16 outlining plans to build blockchain infrastructure aimed at supporting global value transfer, including stablecoins, real-world assets, institutional-grade financial products, and privacy-focused transactions. According to ChainCatcher, the roadmap frames Sui’s intended coverage across these use cases as part of its longer-term network development.
Separately, Premium Exchange, a decentralized premium trading platform in the Sui ecosystem incubated by NAVI Protocol, said its core ecosystem token, PST, will soon be available for trading.

China’s A-share market fluctuated and pulled back during the week of June 22–26, with major indexes posting declines while the STAR 50 Index rose sharply.
According to Jin10, by the close on June 26, the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index had fallen a cumulative 1.55%, 1.55%, and 1.37% for the week, respectively, while the STAR 50 Index had gained 6.32%.
On the fund-flow side, main funds across the Shanghai and Shenzhen markets recorded a combined net outflow of 216.935 billion yuan for the week. The data showed significant selling pressure in technology stocks, with the group known as “Yi Zhong Tian”—Eoptolink Technology, InnoLight Technology, and TFC Communication—seeing combined selling of more than 26.7 billion yuan.
In terms of individual stocks, InnoLight Technology posted the largest main-fund net outflow at 13.78 billion yuan. Victory Giant Technology recorded a net outflow of 8.161 billion yuan. Dongshan Precision, TFC Communication, and Accelink Technologies each saw net outflows of more than 7.0 billion yuan.
HGLaser recorded a net outflow of 6.267 billion yuan. Eoptolink Technology and Tongguan Copper Foil each posted net outflows of more than 5.0 billion yuan. Zhongtian Technology and Contemporary Amperex Technology each saw net outflows of more than 3.5 billion yuan.

Iran captain Mehdi Taremi criticised FIFA and called the tournament a “disaster” after Iran’s 0-0 draw with Egypt in Seattle left them waiting to see if they advance as one of the best-ranked third-place teams. Iran thought they had secured second place in Group G when Shojae Khalilzadeh scored in stoppage time, but VAR ruled the goal offside; Taremi also won and then missed a first-half penalty, according to Yahoo Sports.
Iran are currently sixth in the third-place table with the top eight progressing, while Egypt will face Australia in the last-32 in Dallas on Friday. Taremi said Iran’s short-term US visa situation has forced the team to travel back to their base in Tijuana after matches and urged FIFA president Gianni Infantino to do more if Iran reach the knockouts; Iran are currently pencilled in to play Switzerland in Vancouver on Thursday.

Technology companies are selling stock at a pace reminiscent of the dot-com boom, raising concerns among some investors about what that could signal for bondholders, according to Bloomberg.

Venezuelan officials said the country’s oil production has not been affected following two strong earthquakes.
According to Jin10, Venezuela’s Minister of People’s Power for Oil and Gas, Paula Ehnau, said in a media interview on June 26 local time that oil output remained normal. She put Venezuela’s current average daily crude oil production at 1.2 million barrels.
Ehnau said the government had assessed domestic inventory levels and that supplies of natural gas and fuel were guaranteed. She added that operations were running normally and that all oil wells were operating and producing.
Separately, feedback from management and oilfield workers at Venezuelan oil companies indicated that oil and gas facilities had not suffered serious damage.
Earlier reports said a preliminary assessment showed limited damage to major oil and gas facilities because they were far from cities affected by the earthquakes, although power shortages could affect oil production capacity.

A wallet linked to Vitalik transferred 7,000 ETH to a new wallet after a year-long gap, according to Onchain Lens monitoring. According to Odaily, the transfer was valued at $11.06 million and may be intended for a deposit to a centralized exchange, similar to a previous operation.
Odaily reported that the same wallet previously moved 1,300 ETH valued at $3.19 million and later deposited the funds into Paxo.
The wallet currently holds 20,001 ETH, valued at $31.6 million, Odaily said.

Strategy’s STRC was trading near $75, about a 25% discount to par, prompting criticism that its price stability mechanism is not working, according to comments from Farside Investor.
According to NS3.AI, Farside Investor said the mechanism is effectively non-functional at current trading levels and noted that Strategy has not raised the dividend rate.
Farside Investor added that Strategy may need to repurchase STRC or restructure its dividend system to address the discount.

SPDR Gold Trust, the world’s largest gold ETF, reported a 1.998-ton decline in its holdings from the previous day to 1,005.077 tons. According to Jin10, the update reflected the fund’s latest reported position.

Bitcoin was trading just above $60,000, while the estimated all-in cost to produce one bitcoin was near $84,300. According to NS3.AI, Galaxy Research said Bitcoin mining difficulty fell 10.09% in mid-June.
Separately, CoinShares said public mining companies could generate as much as 70% of their revenue from artificial intelligence by the end of 2026.

Explosion sounds were heard in the Sirik area in southwestern Iran, Iran’s Islamic Republic of Iran Broadcasting reported, linking the incident to multiple shells striking a communications tower.
According to Jin10, U.S. media outlet Axios reported that the United States carried out airstrikes on Iran.

Apple supply-chain analyst Ming-Chi Kuo said iOS 27 will further deepen system-level integration with Apple Intelligence, according to 36Kr. Based on his latest industry survey, Kuo said Apple plans to raise DRAM in lower-end iPhone models using the A20 processor in the first half of 2027 to 9GB (1.5GB × 6-die), up from 8GB (2GB × 4-die) in current A19-based models.
He added that three higher-end models in the second half of 2026 using the A20 Pro processor—one foldable iPhone and two iPhone 18 Pro variants—are expected to keep DRAM at 12GB (1.5GB × 8-die).

A newly created wallet address, bc1q4m, withdrew 1,350 BTC from a CEX (centralized exchange) on June 28. According to BlockBeats On-chain Detection, the transfer was tracked by Lookonchain monitoring.