Summary
gm, U.S. airstrikes on Iranian nuclear facilities triggered over $700 million in liquidations as Bitcoin briefly dipped below $100,000 before recovering. Texas Governor Greg Abbott made headlines by signing Senate Bill 21, establishing the Texas Strategic Bitcoin Reserve—making it the first U.S. state to allocate public funds specifically for Bitcoin as a hedge against inflation. Meanwhile, institutional developments continued with Coinbase securing a MiCA license for EU-wide operations, real estate firm Cardone Capital purchasing 1,000 Bitcoin ($101M) as part of a hybrid investment strategy, and crypto exchange OKX exploring a U.S. public listing amid a wave of potential crypto IPOs following Circle's successful debut.

News Headlines
🚀 Historical Bitcoin trend calls for $330K before bull market ends

  • Analysis suggests Bitcoin could surge to $330,000 before the current bull market concludes, based on the AVIV Ratio which measures Bitcoin's active capitalization against total invested capitalization and remains below historical cycle peaks.
  • Institutional accumulation continues from firms like BlackRock and Strategy, alongside significant net inflows into Bitcoin ETFs, while power law analysis indicates Bitcoin could reach between $220,000 and $330,000 based on historical price doubling patterns.

📈 Saylor Ups Bitcoin Prediction To $21 Million In 21 Years

  • Michael Saylor, founder of Strategy, has significantly raised his long-term Bitcoin price forecast to $21 million by 2046, citing recent geopolitical and regulatory shifts as key factors.
  • Saylor attributed his bullish outlook to developments including the U.S. government's embrace of Bitcoin and multiple crypto-related bills advancing in Congress, while positioning the U.S. as a potential Bitcoin superpower.

🔄 Cathie Wood's ARK Dumps $146M More Circle Shares

  • Cathie Wood's ARK Invest sold 609,175 Circle shares worth $146.2 million as CRCL stock soared nearly 250% since its public debut, with the sale coinciding with a 20.4% share price increase to $240.3.
  • Despite these sales, which represent nearly 29% of the original 4.49 million shares purchased at launch, ARK remains the eighth largest holder of Circle shares with holdings worth $750.4 million.

🐋 Ethereum Whale Stacks $39M in ETH Despite Ether Falling Harder Than Bitcoin

  • A high-net-worth Ethereum trader purchased approximately 9,400 ETH (worth around $39 million) during a significant market downturn where Ether fell 12.80%, underperforming Bitcoin's 4.70% drop.
  • Whales collectively accumulated over 116,000 ETH during this dip, with analysts suggesting a potential 25% rebound to approximately $2,735 in the short term, supported by a key ascending trendline in ETH's price chart.

🔮 The Probability of Iran Blocking Strait of Hormuz Surges to 52% After Trump's Air Strikes

  • Following U.S. airstrikes on Iranian nuclear facilities, the likelihood of Iran blocking the Strait of Hormuz has sharply increased according to Polymarket, with the probability of closure by June 30 jumping to 40% and reaching 52% by year-end.
  • A potential closure could lead to oil prices surging to $120-$130 per barrel and contribute to stagflation, considering approximately 20 million barrels of oil (20% of global consumption) transit the Strait daily.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🔐 Singapore Tightens Crypto Regulations with Severe Penalties

  • The Monetary Authority of Singapore mandates that all Singapore-based entities providing digital token services to foreign clients must obtain a DTSP license by June 30, 2025.
  • Non-compliant businesses face fines up to $200,000 USD and potential imprisonment for up to three years, with MAS rejecting industry requests for phased implementation.

🏦 Wyoming Sets August Launch for State-Backed Stablecoin

  • Wyoming will launch its state-backed stablecoin WYST on August 20, designed to operate on blockchain networks including Ethereum and Solana.
  • The stablecoin will function as a public good, with interest from its reserves contributing quarterly to the state's School Foundation Fund.

🤖 Senator Lummis Introduces AI Developer Protection Bill

  • US Senator Cynthia Lummis introduced the RISE Act to protect AI developers from civil lawsuits while defining responsibilities for AI tool development.
  • Critics argue the bill disproportionately protects developers over users and lacks comprehensive liability coverage for AI-related harms, particularly in unregulated environments.

🧠 Investor Sues MicroStrategy Over $5.9B Bitcoin-Related Loss

  • Michael Saylor and other Stratgy (formerly MicroStrategy) executives face a lawsuit from an investor claiming they failed to adequately disclose risks associated with a new accounting rule.
  • The lawsuit alleges executives sold nearly $31.5 million in stock before publicly reporting a $5.9 billion unrealized loss related to Bitcoin holdings.

💰 Florida Investor Files Lawsuit Against Crypto School for $860K Scam

  • A Florida man has sued the Alpha Stock Investment Training Center and fake exchange CoinBridge Partners, claiming he was defrauded of $860,000 through misleading trading activities.
  • The lawsuit alleges fraud and racketeering, highlighting ongoing concerns about crypto scams, which accounted for over $1 billion in losses in 2024.

Technical Analysis
Bitcoin - Bitcoin has broken down from an approximate horizontal trend channel in the short term after investors have sold at ever lower prices. A negative signal has been triggered and further decline for the currency is indicated. The currency has broken down through support at points 102400. This predicts a further decline. In case of positive reactions, there will now be resistance at points 102400. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically negative for the short term.

Ethereum - Ethereum has broken down from an approximate horizontal trend channel in the short term after investors have sold at ever lower prices. A negative signal has been triggered and further decline for the currency is indicated. The currency has support at points 1800 and resistance at points 2470. Volume has previously been high at price tops and low at price bottoms. This weakens the trend break. The currency is overall assessed as technically negative for the short term.