💰 U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

The total market cap of the 14 U.S.-listed bitcoin (BTC) miners followed by JPMorgan hit a record high of $22.8 billion on June 15, the Wall Street bank said in a research report on Monday. The bank noted that almost all the companies outperformed bitcoin in the first two weeks of June, with Core Scientific (CORZ) the best performer, adding 117%, and Argo Blockchain (ARBK) the worst, dropping 7%. The world’s largest cryptocurrency fell 3% in the same period.

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💰 Deutsche Telekom plans Bitcoin mining pilot to improve energy efficiency

Deutsche Telekom‘s operating nodes and staking services for multiple blockchains – 14 and counting. From a strategic perspective, it views this as a modern version of traditional telecom infrastructure services. Deutsche Telekom’s Dirk Röder revealed that the telecoms company already operates Bitcoin and Lightning network nodes and plans to mine Bitcoin. He was talking at the BTC Prague event on Friday.

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💰 Bitcoin falls below key support level, potentially triggering 8%-12% correction: CryptoQuant

Bitcoin has fallen through a price support level that can signal an 8%-12% correction when the price crosses it to the downside, CryptoQuant analysts said in a report published Tuesday. "As the price of bitcoin has crossed this metric to the downside, bitcoin could decline towards $60,000. The bitcoin price has fallen below the trader's on-chain realized price of $65,800, a key support level in bull markets," the analysts added.

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💰 Bitcoin Sees Selling Pressure From Miners and Long-term Holders Amid Drop to $64K: Bitfinex

Last week marked a notable shift in the dynamics of the crypto market. Bitcoin (BTC) lost over 6% of its value, and U.S. spot Bitcoin exchange-traded funds (ETF) broke their 20-day inflow streak with outflows running into hundreds of millions of dollars. According to the latest Bitfinex Alpha report, bitcoin’s plunge was mainly caused by selling from long-term holders, whales, and miners on exchanges and via over-the-counter transactions.

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🥇 Bernstein predicts spot Bitcoin ETFs near approval at major wirehouses; maintains $200,000 target by 2025 end

While bitcoin bears argue the spot Bitcoin exchange-traded fund trade is “done,” they are missing two key factors, according to analysts at research and brokerage firm Bernstein. Arguments against the Bitcoin ETF trade revolve around early allocations being driven by retail investors, with institutional involvement confined to the basis “cash and carry” trade rather than net long positions, meaning the ETF flows are not “real,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.

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💰 Bitcoin addresses holding over 1 BTC drop to just above 1 million

Bitcoin addresses holding at least one coin have exhibited a dynamic trend against its price in 2024. As the year began, the number of such addresses hovered around 1.023 million. However, a decline followed, hitting approximately 1.011 million by mid-June. This reduction paralleled a period of relative stability in Bitcoin’s price, which fluctuated around $60,000.

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🥇 MicroStrategy buys additional 11,931 bitcoin for $786 million

Business intelligence firm and corporate bitcoin holder MicroStrategy acquired an additional 11,931 for approximately $786 million at an average price of $65,883 per bitcoin between April 27 and June 19, according to a filing on Thursday. The company now holds 226,331 BTC, worth roughly $14.9 billion. MicroStrategy’s total holdings were bought at an average price of $36,798 per bitcoin, a cost of around $8.33 billion, inclusive of fees and expenses, according to the company's founder and executive chairman Michael Saylor.

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💰 Binance CEO welcomes Standard Chartered move to launch Bitcoin trading desk

Binance CEO Richard Teng has welcomed Standard Chartered into the crypto industry after reports revealed that the banking giant was preparing to launch a spot trading desk for Bitcoin and Ethereum. This move would make the bank one of the first major traditional financial institutions to offer direct trading services for the top digital assets and could provide competition for Binance’s dominance of the sector.

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💰 Bitcoin dips below short-term holder realized price, sparking $60K fears

Bitcoin recently fell below $64,000, breaking its short-term holder realized price and signaling a possible further decline to levels unseen in 49 days, according to cryptocurrency analysis firm CryptoQuant. “Bitcoin is trading below the critical support level of $65.8K, now below $64K,” CryptoQuant wrote in a June 21 X post. On June 22, Bitcoin’s recent decline saw it drop 2% to $63,442, falling below the short-term holder realized price (STH-RP) at the time, which was $64,230, according to LookIntoBitcoin data.

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🪙 Bloomberg Analyst Doubles Down on July 2 Spot Ether ETF Launch Date Amidst Surge in S-1 Filings

Bloomberg’s senior ETF analyst has reaffirmed his prediction of a July 2 launch date for U.S. spot ethereum exchange-traded funds (ETFs) after observing a surge in amended S-1 (registration statement) filings on Friday. U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has indicated that spot ether ETFs will launch this summer, pending the SEC’s approval of their S-1 filings.

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💰 Twitter founder Jack Dorsey gives presentation in Italy on how Bitcoin is permission-less freedom money 🇮🇹

“It could potentially be a compliment or replace the US dollar, which rules everything.”

- Jack Dorsey

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💰 Mt. Gox to begin Bitcoin repayments to creditors in July 2024 spooking market

Mt. Gox, the bankrupt Japanese crypto exchange, will repay creditors’ Bitcoin and Bitcoin Cash assets starting July 2024. Following the announcement, the market sold off, with Bitcoin dipping below $61,000. Further, the trustee assured that the defunct exchange had “taken time to ensure safe and reliable repayment to creditors, including technical remedies for safe repayments, compliance with financial regulations in each country, and discussion of repayment arrangements with the cryptocurrency exchanges.”.

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💰 Bitcoin price drops as investors 'sell the news' on Mt. Gox repayment announcement, analyst says

Bitcoin's price suffered a pullback on Monday, dropping over 5% in daily trading following Mt. Gox's announcement to distribute $9 billion in bitcoin and bitcoin cash repayments starting in early July. The price of the world's largest digital asset by market cap has slipped close to the $60,000 mark, its lowest level in almost six weeks.

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💰 Mt. Gox Redemption Fears ‘Overblown’ Say Traders as $10B BTC Holdings Draw Concerns

Crypto traders say selling pressure from Mt. Gox’s newly announced repayments could be much less than market observers fear, easing concerns about an imminent selloff. “The impact on bitcoin's price from Mt. Gox distributing Bitcoin is likely overblown,” Sam Callahan, senior analyst at Swan Bitcoin, said in a Tuesday email to CoinDesk. “Creditors who wanted to sell their bitcoin have now had more than 10 years to do so through selling their bankruptcy claims to more convicted, long-term investors.

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💰 Congressman introduces bill to enable federal tax payments in Bitcoin

Congressman Matt Gaetz (R-Fla.) introduced legislation on June 25 that would require the IRS to begin accepting federal tax payments in Bitcoin. Gaetz emphasized the potential benefits of this “bold move” and said the bill will ensure that the US remains at the forefront of technological advancement. The bill proposes that taxpayers be allowed to use Bitcoin for federal tax payments, which Gaetz believes would “promote innovation, increase efficiency, and offer more flexibility to American citizens.”

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🥇 "Everything you think you own is actually just a lease from the government when they have a monopoly on violence, because they can seize your property at any time."

- Jack Dorsey

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🥇 Bitcoin derivatives poised for 'quadruple witching' volatility as Friday's quarterly options expiry approaches, analyst says

The bitcoin options market is braced for heightened volatility, with over 20% of open interest on Deribit set to expire in-the-money (ITM), several analysts said to The Block on Wednesday. "As we approach Friday’s large quarterly expiry, potentially influenced by ‘quadruple witching’ and related volatility in U.S. markets, over 20% of Deribit open interest is set to expire in-the-money, equating to over $2.7 billion, total notional size of Friday's options expiry is over $10 billion," Deribit CEO Luuk Strijers told The Block.

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💰 Bitcoin options implied volatility rises sharply on short-dated puts as traders prepare for potential downside swings: analysts

According to the CF Benchmarks' Bitcoin Volatility Index, the implied volatility for both short-dated puts and short-dated calls was approximately the same at the end of May, prior to the recent market downturn, during which bitcoin's price has fallen by over 14% in the past month. However, CF Benchmarks analysts are now observing a significant increase in implied volatility for near-term puts compared to their corresponding calls.

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💰 Bitcoin Miner CleanSpark (CLSK) Buys Out GRIID In $155 Million Stock Transaction

CleanSpark (CLSK) – one of the largest publicly traded Bitcoin mining firms – announced on Thursday that it had acquired one of its smaller competitors, GRIID Infrastructure, in an all-stock deal. The merger agreement required CleanSpark to assume all debts and other obligations from GRIID. It also required CleanSpark to provide GRIID with a $5 million working capital loan, and to pay down a bridge loan of $50.9 million to satisfy other obligations from the smaller miner.

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