News linked to both this project and an event.
According to Glassnode data, long-term holders—wallets that have held coins for at least 155 days—have shifted from net distribution to net accumulation, indicating a recovery in BTC demand. Small and medium-sized wallets are leading a broad trend of buying the dip, while the largest whale wallets remain mostly neutral. Analysts say it is still too early to conclude that the market has entered a full accumulation phase. (CoinDesk).
According to Trader T (@thepfund), Bitcoin spot ETFs recorded a net outflow of $296 million yesterday. On the outflow side: BlackRock $IBIT saw an outflow of $219 million, Grayscale $GBTC saw an outflow of $62.79 million, Fidelity $FBTC saw an outflow of $51.02 million, and Ark $ARKB saw an outflow of $39.90 million. On the inflow side: Grayscale Mini $BTC saw an inflow of $36.33 million, Morgan Stanley $MSBT saw an inflow of $29.81 million, Invesco $BTCO saw an inflow of $5.37 million, Franklin $EZBC saw an inflow of $3.48 million, and VanEck $HODL saw an inflow of $2.13 million. Bitwise $BITB, Valkyrie $BRRR, and WisdomTree $BTCW had zero inflows and outflows for the day.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a smart money address (0x0a...) closed short positions on SanDisk ($SNDK) and Intel ($INTC) at 2 AM today, with a total position value of $13.41 million, realizing a profit of $448,000. The address established a basket of short positions on Micron ($MU), SK Hynix ($SKHX), SanDisk ($SNDK), Intel ($INTC), and BTC at 17:30 yesterday afternoon, with total positions exceeding $34.9 million; unrealized profits reached $1.742 million within four hours after the US stock market opened. Currently, the address still holds short positions on BTC, SK Hynix, and Micron worth over $22.34 million, with unrealized profits of $1.335 million.
Odaily reports, according to Lookonchain monitoring, a trader's ETH short position and BTC long position currently have unrealized losses exceeding $5.5 million. Over the past month, the trader completed over 100 trades with a win rate of 90%, earning $4.96 million in profit, but this single trade has erased all of those gains.
According to BitcoinTreasuries data, South Korean listed company K Wave Media (KWM) has sold all of its remaining 88 BTC to repay $6 million in debt. Following the sale, the company's Bitcoin holdings have dropped to zero, exiting the ranks of Bitcoin treasury companies.K Wave Media announced last year that it had secured a $1 billion Bitcoin treasury financing capacity and planned to expand its Bitcoin holdings to 10,000 BTC as soon as possible. However, in May this year, the company redirected up to $485 million of its remaining financing capacity from the Bitcoin treasury strategy to AI infrastructure construction, including data centers, GPU computing power, and related acquisitions.
According to CoinDesk, Wall Street bank Cantor Fitzgerald issued a research report indicating that the crypto market is entering the final phase of the current bear cycle. As of June 10, Bitcoin has declined approximately 51% from its 2025 peak, with 252 days having passed since the peak. Synthesizing the past three market cycles, BTC bottoms on average 384 days after the peak; based on this, the low point of this cycle is projected to appear around the end of October. Analysts also noted that the model is not a precise timing tool, and macro, regulatory, and geopolitical risks remain. Regarding network value assessment, Cantor believes Hyperliquid is the prime example of fee-driven token economics, Bitcoin remains the benchmark monetary asset, and Ethereum serves as the primary collateral layer for on-chain finance; Solana, Sui, XRP, and Zcash each possess differentiated advantages, but still need to prove that their ecosystem growth can translate into sustained token demand.
据链上分析师 Onchain Lens（@OnchainLens）监测，随着 LIT 价格突破 2 美元，知名链上交易员 mk4（@mk4_lul）持有的 LIT 5 倍多头头寸浮动盈利已超 355 万美元。其同时持有 BTC、AAVE、WLD、XPL、MU、黄金及白银的多空头寸，整体浮动利润约 400 万美元，累计总利润已逼近 4100 万美元。
Bitcoin briefly dropped to $57,779 on Wednesday, hitting a low not seen since September 2024, before rebounding 2.8% to around $60,000. The rebound came after weaker-than-expected U.S. employment and manufacturing data, and Fed Chair Kevin Warsh did not clearly signal a rate hike inclination. ADP data showed that U.S. private sector added 98,000 jobs in June, lower than May's 122,000 and market expectations; the ISM Manufacturing Index fell from 54 to 53.3, and the Prices Paid Index dropped from 82.1 to 73. The two-year U.S. Treasury yield closed flat at 4.15%. According to SoSoValue data, U.S. spot Bitcoin ETFs saw $4.5 billion in outflows in June, setting a monthly outflow record. Glassnode data indicates that long-term holders have re-entered an accumulation phase, while the bid-side proportion in the spot order books of Binance and Coinbase has increased.
CryptoQuant analyst Darkfost stated that the Bitcoin Net Supply Ratio has been in negative territory for a consecutive week, recently dropping to -0.075, triggering a buy signal. This indicator is based on the profit/loss status of Unspent Transaction Outputs (UTXO), used to evaluate the profit or loss level of the overall market supply, thereby assisting in judging whether an accumulation phase is forming.
Bitcoin briefly dropped to $57,700, its lowest level since September 2024, before recovering to $58,800; the market saw $395 million in liquidations, with open interest rising to 768,000 BTC. On Deribit, put options across all maturities traded at a premium over call options, with one block trade betting on a Bitcoin put option expiring in September with a strike price of $50,000. (CoinDesk)
According to on-chain analyst Onchain Lens (@OnchainLens), a newly created wallet "0x93A" deposited 4 million USDC into HyperLiquid and opened a 20x leveraged long position of 200 BTC. Currently, there are suspected to be 4 associated wallets holding a combined 20x long position of 800 BTC, with a total value of approximately $47 million.
that, according to on-chain analyst Ai Yi's monitoring, four addresses believed to belong to the same whale or entity have taken long positions on BTC with 20x leverage on June 26 and today. Each address opened a long position of 200 BTC, totaling 800 BTC, with total positions exceeding $46.88 million and an unrealized loss of $450,000.
According to Reuters, Citibank has lowered its 12-month price targets for Bitcoin and Ethereum from $112,000 to $82,000 and from $3,175 to $2,240, respectively. Citi also lowered its 12-month ETF net inflow expectation from $10 billion to zero, noting that waning investor interest, ETF fund outflows, and slow progress in US digital asset legislation are exerting pressure on the market outlook.
CryptoQuant CEO stated in a post that Bitcoin's capital efficiency is continuously declining—in 2011, a net inflow of only $5 million was sufficient to double the price, while this cycle requires approximately $101 billion to achieve the same effect. He believes that the next parabolic bull market cycle may require net capital inflows in the trillions of dollars, and Bitcoin must transition from retail-dominated ETF trading to a core macro asset. If Bitcoin's actual market capitalization can surpass $1 trillion, the next bull market is still likely to occur, while gold's current market capitalization has already reached $27 trillion, indicating considerable growth potential in comparison.
According to on-chain analysis platform Lookonchain (@lookonchain), whale 0xaeaa opened a 1100 BTC ($64.95 million) short position with 20x leverage, with a liquidation price of $67,914.56.
the U.S. SEC stated on Tuesday that it is publicly seeking comments on the regulatory approach for "novel ETFs," evaluating whether existing fund registration and listing processes need adjustments. This review comes amid the rapid expansion of crypto ETFs and an increase in applications for prediction market-related ETFs.SEC Chairman Paul Atkins said the regulator wants to hear market opinions to ensure that the U.S. ETF market can effectively serve investors while continuing to grow and innovate. Since Atkins took over as SEC Chairman in April 2025, the SEC has approved multiple crypto ETFs beyond Bitcoin and Ethereum, including products tracking assets like SOL and DOGE.Currently, market attention is shifting towards prediction market ETFs linked to political and economic outcomes. The SEC has not yet approved such funds for listing and trading and has delayed several related applications. Atkins previously stated that the SEC will evaluate these products in a "transparent and prudent" manner.In this request for comment, the SEC is asking whether a standardized listing framework should be established for ETFs meeting specific criteria and whether certain novel ETFs need to register as investment companies. TD Cowen analysts believe that this request for comment could potentially lead to rule changes as early as 2027, allowing the SEC to permit a wider range of ETF types, including products based on event contracts, crypto assets, and single-stock strategies. (The Block)
According to Lookonchain monitoring, U.S. Bitcoin ETFs saw a net outflow of 5,151 BTC today, with a 7-day net outflow of 33,921 BTC; Ethereum ETFs recorded a net inflow of 6,778 ETH, with a 7-day net outflow of 119,815 ETH.
Jiang Zhuoer stated that the current Bitcoin market is exhibiting multiple bearish signals, including continuous selling pressure on spot Bitcoin ETFs and simultaneous reductions in holdings by multiple institutions; the Coinbase premium index has turned significantly negative, with the discount level approaching the range seen prior to the sharp declines at the end of January and the end of May; meanwhile, funding rates in the contract market remain positive and open interest is at high levels, indicating that leveraged funds remain relatively concentrated. In his view, the combination of the above factors implies that market volatility risk is rising.
Odaily Wall Street investment bank TD Cowen has lowered its price target for Bitcoin treasury company Strategy (STRC) from $400 to $260, a reduction of approximately 35%, while maintaining a "Buy" rating. The firm noted that the company's newly launched digital credit capital framework is constructive, with continuous improvements in credit transparency and capital flexibility.Analysts explained that this valuation adjustment is unrelated to the new capital framework, but is primarily driven by lowered Bitcoin price expectations: the BTC price forecast for end-2026 has been reduced from $140,000 to $100,000, and the end-2027 forecast from $190,000 to $135,000. Even after the adjustment, the $260 price target still implies over 200% upside from the closing price of $92.68. The investment bank also acknowledged that this valuation differential appears relatively high.On the capital front, Strategy has rebuilt $2.55 billion in USD reserves. Last week's issuance of 12 million common shares was not used to increase Bitcoin holdings. Existing cash can cover more than 17 months of interest and preferred stock dividends, and combined with BTC monetization capacity, can cover 26 months of expenses. The company has received approval for $1 billion in common stock buybacks and $1 billion in preferred stock buybacks, marking a shift from one-way equity issuance to proactive capital structure optimization. The $1.25 billion in Bitcoin monetization proceeds will replenish cash reserves, while the preferred stock dividend rate has been raised from 11.5% to 12%, alleviating the previously significant 26% discount issue. (TheBlock)
Bitcoin (BTC) has been trading narrowly between $59,000 and $60,000 for the fifth consecutive day. However, analysts warn that this "calm" market condition may conceal greater risks, with the key issue being that this oscillation is occurring within a downtrend.FxPro's Chief Market Analyst, Alex Kuptsikevich, stated that the current price action resembles Bitcoin's consolidation between $55,000 and $70,000 from March to October 2024, but the contexts differ. The previous consolidation occurred in a rising market, whereas the current oscillation is below support levels. Additionally, both the 50-day and 200-day moving averages are trending downward, indicating the market remains bearish.Kuptsikevich noted that if this consolidation pattern breaks to the downside, rather than forming a base for a rebound, Bitcoin's next significant support zone could be near the $40,000 level.On-chain data is also signaling pressure. CryptoQuant analyst Darkfost indicated that long-term holders may be engaging in loss-making selling behavior. In historical cycles, this phase is typically accompanied by short-term pressure, but it may also become a long-term buying opportunity.Meanwhile, market demand remains relatively weak, with active address counts and on-chain transaction activity both at recent lows. Financial pressure on corporate Bitcoin giant Strategy has also heightened market concerns. Its preferred stock, STRC, recently fell to around $71, while its common stock dropped approximately 25% in a week, hitting its lowest level since February 2024.Strategy previously stated that it might sell over $1 billion worth of its Bitcoin reserves to improve its financial situation. This is seen as a significant shift from founder Michael Saylor's "never sell" strategy.Additionally, a strengthening US dollar and continued capital flows into AI-related assets in the US stock market are exerting pressure on dollar-denominated risk assets like Bitcoin. BTC is currently on track to end the second quarter with a decline of approximately 13%, while US stocks remain strong due to the AI investment boom. (CoinDesk)