The global cryptocurrency market cap now stands at $2.04T, down by 0.43% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $58,326 and $61,334 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $60,605, up by 2.91%.
Most major cryptocurrencies by market cap are trading mixed. Market outperformers include BREV, RIF, and POND, up by 59%, 49%, and 39%, respectively.
Corporate Bitcoin Buying Holds Firm as Warsh Strikes Less Hawkish Tone
Public bitcoin treasuries added 9,000 BTC ($525M) in June, with Strategy and Strive each deploying roughly $200M through their digital credit instruments — bringing total public company holdings above 1.26M BTC even as STRC and SATA trade below par. That corporate bid persists despite a macro backdrop that shifted meaningfully: Fed Chair Warsh's ECB forum remarks were less hawkish than feared, cooling rate-hike speculation and lifting gold to $4,050, while Japan's ambush-intervention pivot on the yen introduces an asymmetric currency risk that could ripple through risk assets.
Top stories of the day:
Sources: Japan Shifts to Ambush Intervention Tactics, Abandoning Telegraphed Warnings on Yen
Key Takeaways:
Silence deployed as policy tool against speculators
Yen at 40-year low of 162.66
BOJ tankan shows eight-year sentiment high
Summary:
Japanese officials are abandoning their practice of telegraphing intervention risks, opting instead for a more aggressive approach that uses silence as a policy tool to keep traders guessing and raise the cost of speculative short-yen bets, according to Reuters sources familiar with the matter. The shift means the Ministry of Finance could step in abruptly to squeeze speculators rather than waiting for the currency to cross a publicly known threshold, eliminating the unwinding window that preceded the previous April-May intervention costing a record 11.7 trillion yen ($72 billion). Finance Minister Satsuki Katayama and top currency diplomat Atsushi Mimura have notably refrained from escalating rhetoric despite the yen's fall to a 40-year low of 162.66, while the BOJ's quarterly tankan survey showing eight-year-high business sentiment and record corporate inflation expectations reinforces the case for additional rate increases beyond the current 1% policy rate. With US Treasury Secretary Scott Bessent pressing for further BOJ hikes and Thursday's US jobs data potentially shaping Fed rate-hike expectations, the coordinated stance signals that intervention risk now hinges on speculative positioning rather than any explicit exchange-rate level.
Public Bitcoin Treasuries Added 9,000 BTC in June
Key Takeaways:
7,300 BTC net added in June
Strategy and Strive each deployed ~$200M
Total public holdings exceed 1.26M BTC
Summary:
Public Bitcoin treasuries added approximately 9,000 BTC ($525 million) in June, or 7,300 BTC net ($427 million) after accounting for sales and reductions, with Strategy and Strive accounting for the bulk of purchases as each deployed roughly $200 million funded largely through their respective digital credit instruments STRC and SATA. Strategy's 3,625 BTC net addition came despite its first-ever bitcoin sale of 32 BTC, while Strive's 3,364 BTC included a 2,500 BTC single acquisition that ranks among its largest to date. Holdings reductions totaling nearly 1,700 BTC from Fold Holdings, Nakamoto Inc., and Hive Digital partially offset growth, leaving total public company holdings above 1.26 million BTC valued at over $75 billion as of June 30, with early survey data suggesting investor confidence in digital credit structures remains intact despite price weakness in STRC and SATA.
Key Takeaways:
$100M profit from $12M options outlay
Susquehanna lost $70M as counterparty
Accounts frozen at three brokerages
Summary:
The SEC is examining trades described in a complaint filed by Susquehanna International Group in Manhattan federal court on Monday, alleging that unknown traders generated at least $100 million in profit by buying US exchange-traded options on Chinese securities firms ahead of Beijing's May 22 regulatory crackdown on cross-border brokerages. Susquehanna said it lost more than $70 million as counterparty on most of the suspicious trades, reportedly executed by individuals tipped off by Chinese regulatory staff or employees at Futu or Up Fintech, who spent roughly $12 million to generate the windfall. A federal judge has granted Susquehanna's request to freeze accounts at Interactive Brokers, Futu Holdings, and Up Fintech Holdings and authorized subpoenas to identify the account holders, while Interactive Brokers confirmed it is cooperating with both Susquehanna and relevant regulators. The scope and stage of the SEC's review remain unclear, and the agency declined to comment.
Apple in Talks to Buy Memory Chips From Pentagon-Blacklisted CXMT and YMTC for Devices Sold in China
Key Takeaways:
Both chipmakers on Pentagon's 1260H military-linked list
Tim Cook lobbying Treasury Secretary Bessent for cover
Apple raised prices across all product lines last week
Summary:
Apple Inc. is in negotiations to purchase memory chips from ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC) — both on the Pentagon's 1260H list of Chinese entities with suspected military ties — for use in devices sold exclusively within China, according to Bloomberg. CEO Tim Cook has personally appealed to Treasury Secretary Scott Bessent and other Trump administration officials to help manage the political fallout, though some national security hawks within the administration have voiced objections to expanding Apple's Chinese supply chain. The push comes as an unprecedented memory chip supply squeeze driven by the AI boom forces consumer electronics makers to find alternative sources, with Apple having already raised prices across its entire product lineup last week citing component cost increases it described as unprecedented in both speed and magnitude. Apple's 2022 attempt to source from YMTC was derailed by Washington opposition, and the company now hopes that limiting the chips to China-only devices will mitigate similar resistance.
PRECIOUS METALS | Gold Holds Gains After Kevin Warsh Remarks Ease Fed Rate-Hike Prospects
Key Takeaways:
Gold at ~$4,050 after 0.6% daily gain
Warsh signals price stability commitment
US manufacturing slows, hiring stays solid
Summary:
Gold held a rebound near $4,050 an ounce after Federal Reserve Chairman Kevin Warsh delivered remarks at the European Central Bank forum in Portugal that were less hawkish than markets had feared, cooling speculation of a near-term rate hike and snapping bullion's two-day losing streak. Warsh reiterated his commitment to bringing inflation back to the 2% target while doubling down on the price-stability message from his first press conference as Fed chair last month, providing reassurance after Middle East conflict-driven energy costs had pushed inflation indicators higher. The macro picture remains mixed, with US manufacturing activity expanding for a sixth consecutive month in June at a slower pace and private-sector hiring posting its best three-month stretch in over a year. Spot gold traded 0.3% higher at $4,053.57 an ounce, with silver up 0.4% at $59.35, while platinum edged higher and palladium gained 0.4%.
Market movers:
NVDAB: $196.22 (-1.29%)
MSFTB: $386.2 (+1.16%)
SPCXB: $156.62 (-10.11%)
METAB: $612.4 (+7.82%)
TSLAB: $427.16 (+2.26%)
MUB: $1016.4 (-9.13%)
AMDB: $535.02 (-6.50%)
LITEB: $788.04 (-6.71%)
INTCB: $125.97 (-8.54%)
QQQB: $724.74 (-0.96%)