Latest Crypto News & Market Updates

Is This the Hidden Reason Behind Bitcoins $23K Collapse in Just 6 Weeks？

The old saying – sell in May and go away – proved to be right once again for the cryptocurrency markets. It was just six weeks ago when bitcoin had evidently reclaimed the $80,000 level and even surged to a multi-month peak at almost $83,000. The sentiment was gradually improving and there were even calls for $100,000 by the summer.　　However, the tides turned viciously and the asset was rejected vigorously. Its decline since then has been nothing short of painful, dumping below $60,000 earlier today for the second time in June.　　Is This Why？　　Popular analyst Ali Martinez brought out the Coinbase Premium metric earlier today as the markets were crashing to fresh low. CryptoPotato reported when $BTC dumped below $60,000 but managed to maintain above the $59,000 level and has now reclaimed the former.　　According to Martinez, though, the metric that stands out the most for the past six weeks or so is the one that tracks how much $BTC costs on Coinbase compared to Binance. In general, if the Premium is in the green, it means US investors (typically institutions) are accumulating bitcoin en masse on Coinbase, pushing its price there above the levels on international exchanges.　　However, the last 46 days

06-25Exchange

Bitcoin – BTC sticks to $62K as $1B Binance leverage wipes out

At press time, Bitcoin traded around $62,400 after yet another wave of selling pressure on the market. The decline was accompanied by a significant decrease in derivatives exposure for major exchanges.　　Binance experienced the largest move, with a 7-day Open Interest decline of over $1 billion. However, the comparison between the reported decline and the cited Open Interest figure requires verification.　　Source: CryptoQuant　　Meanwhile, Gate.io previously recorded a low near -$777 million, highlighting how concentrated the latest deleveraging has become. Yet the flush has cleared much of the speculative excess beneath the price.　　Most downside liquidity clusters have already been swept, reducing immediate downside attraction.　　Nevertheless, Coinbase Premium remained negative near -0.13, showing U.S. Spot demand had not returned decisively.　　Therefore, while leverage pressure has eased, Bitcoin still lacks the buying conviction needed to sustain a broader recovery toward overhead liquidity zones.　　Spot volume fails to confirm demand　　The decrease in Exchange Inflows aligned with a downturn in overall trading on Binance. Although Bitcoin is currently consolidating at levels near $62,000 – $63,000, there has been a significant increase in market participation.　　Notably, Binances spot-to-perpetual ratio Z-score has declined to -1.67, which historically represents an extremely high level for spot demand. Nevertheless, activity behind this indicator suggests otherwise.　　Source: CryptoQuant　　Spot

06-25Exchange

Ethlabs Will Overlap with the Ethereum Foundation and Draw Its 'Densest Talent,' Funders Say

Ethlabs, a new Ethereum research lab backed by the networks two largest corporate holders, launched this week with a pitch to complement the Ethereum Foundation.　　Its own funders concede it will also compete as Ethlabs is “playing to win.”　　“I think they will be complementary,” Joseph Chalom, chief executive of Sharplink and a former longtime BlackRock executive, said of Ethlabs and the Foundation on a livestream The Defiant hosted this week. He then added that the two would “over time” be “in some ways overlapping,” with “the densest talent” concentrated at Ethlabs.　　Where the Mandates Meet　　The overlap is visible in what each group says it will do. The Foundation reorganized this week into five units, including a protocol layer focused on scaling and hardening Ethereums base layer and an institutional layer aimed at enterprise adoption. Ethlabs describes its own work in nearly the same terms: faster settlement, cross-chain interoperability and readiness for institutional and AI-driven activity. Both invoke credible neutrality and censorship resistance.　　Victor Bunin, a protocol specialist at Coinbase who is listed as an Ethlabs contributor, said the rivalry is built into how Ethereum ships code.　　“Theres a natural competition between every single EIP, every single effort that goes into it,” he said, using

06-25Exchange

Bitcoin retests June low after $850M liquidations rock crypto market

Bitcoin has fallen below $60,000 for a second time this month, triggering more than $850 million in crypto liquidations and sending Strategy shares to an intraday low of $92.28 as investors reacted to mounting pressure across digital assets and technology stocks.　　According to data from crypto.news, Bitcoin ($BTC) price dropped nearly 6% to an intraday low of $59,175 before trading around $59,500 at press time. The move wiped out more than $850 million in leveraged positions, with long traders accounting for roughly $780 million of the total and short liquidations contributing about $84 million.　　Selling quickly spread across major cryptocurrencies. Ethereum fell below $1,600 and traded near $1,590, while Solana slipped under $65 and XRP changed hands around $1.05. The total value of the crypto market declined to approximately $2.1 trillion, leaving the sector down about 3.6% on the day.　　Bitcoin tests a key technical support zone　　Technical indicators suggest Bitcoin has returned to a level many traders have been watching closely. The daily chart shows Bitcoin falling through a major support level and revisiting support around $59,200, a zone that aligns with the June lows.　　$BTC falls to June lows near $59,200 while trading below key moving averages on the daily chart | Source:

06-25Exchange

'Painful' Bitcoin Sell-Off Drags Ethereum, XRP and Dogecoin Lower as Crypto Stocks Dive

In briefBitcoin fell to its lowest point in 21 months, dragging down leading altcoins and crypto stocks with it.The weakness appears to be linked to a risk-off move in semiconductor and AI stocks, analysts said.As $XRP fell, it risked slipping below $1 for the first time since just after President Trumps reelection.　　Investors continued to dump digital assets on Wednesday, aggravating a sell-off that pushed Bitcoins price to its lowest point in 21 months.　　The leading digital asset by market cap fell as low as $59,2175 before firming to $60,700, a 2.7% decrease over the past 24 hours, according to CoinGecko. The performance echoed signs of pressure on Wall Street and put Bitcoin on track for its third straight daily decline.　　As the original cryptocurrency plunged, so too did various altcoins, with Ethereum showing a 3.1% decline to $1,610. $XRP and Solana also wavered, falling 3.1% to $1.07 and 2.6% to $67, respectively. Dogecoin dropped 4.6% to 7.5 cents over the same period.　　For $XRP, the slump threatened to push the digital asset under $1 for the first time since shortly after President Donald Trumps 2024 reelection win. For Dogecoin, the fall earlier Wednesday thrust the first meme coin to its lowest levels since

06-25Exchange

CFTC sues Kentucky over Kalshi and Polymarket crackdown, breaking the blue-state-only pattern

The Commodity Futures Trading Commission (CFTC) filed a one-count complaint against Kentucky on Tuesday, June 23, to block the state‘s enforcement actions against Kalshi and Polymarket. The lawsuit names the Commonwealth of Kentucky, Governor Andy Beshear, Attorney General Russell Coleman, Department of Revenue Commissioner Thomas Miller, and the Kentucky Racing and Gaming Corporation as defendants. It asks the court to declare Kentucky’s prediction-market laws unconstitutional and to bar their enforcement.　　The complaint calls Kentucky‘s actions “the latest entries in Kentucky’s campaign to banish prediction markets from within their borders.” Kentucky becomes the ninth state the CFTC has sued in its campaign to assert exclusive jurisdiction over event contracts, after Illinois, Arizona, Connecticut, New York, Rhode Island, Wisconsin, Minnesota, and New Mexico.　　Prior targets included governors and attorneys general who were Democrats. In contrast, Kentucky does not follow this trend. While Beshear is a Democrat, Coleman is a Republican attorney general, which makes him the first such attorney general to face a CFTC suit.　　Colemans June 17 suit triggered the federal response in six days　　Coleman filed separate lawsuits against Kalshi and Polymarket on June 17 in Franklin Circuit Court, accusing both platforms of running unlicensed sportsbooks under Kentucky gambling law. “Kalshi and Polymarket are

06-25Exchange

Europe's MiCA Regulation: What It Is & Why It Matters

MiCA is the European Unions single rulebook for crypto. It applies a single set of licensing, disclosure, and consumer-protection rules across all 27 member states, replacing the patchwork of national regimes that have governed the industry for years. Formally Regulation (EU) 2023/1114, it is the first comprehensive crypto framework adopted by a major jurisdiction.　　The reason it matters right now is that the final transitional window closes on July 1, 2026. After that date, any firm serving EU clients without a MiCA license is breaking EU law. In April 2026, ESMA confirmed there would be no extension. For thousands of crypto businesses, the grace period is over.　　What is MiCA？　　MiCA sets rules for crypto-assets that are not already covered by existing financial law, such as securities under MiFID II. It governs three things: how tokens are issued and offered to the public, how they get listed on trading platforms, and how service providers operate.　　It sorts tokens into three buckets:Other crypto-assets. This covers Bitcoin, Ethereum, and most utility tokens. The rules are lightest here, centered on a published crypto-asset white paper, so buyers can see the risks.Asset-referenced tokens (ARTs). Stablecoins backed by a basket of assets or currencies. Stricter requirements apply.E-money tokens (EMTs).

06-25Exchange

Bitcoin Price Crashes Toward $61,000 as Bloodbath Engulfs Crypto Stocks

Bitcoin price is trading near $61,500 today, extending a decline that has erased more than half its value since the token hit a record high in October 2025. The sell-off is rippling through publicly traded crypto companies, where losses have at times outpaced Bitcoin itself.　　The token fell to $61,877 earlier this week — its lowest level since June 11 — before sliding further. Bitcoin price briefly broke below $60,000 on June 5, a level not seen since late 2024, before a partial recovery that has since stalled.　　Deutsche Bank attributed Bitcoins weakness to a convergence of institutional pressures. A shift in Federal Reserve expectations — the bank now forecasts two rate hikes in 2026, reversing earlier expectations for cuts — has removed a key pillar of institutional demand. Higher rates make risk assets less attractive relative to cash and bonds.　　Spot Bitcoin ETFs have seen six consecutive weeks of net outflows totaling roughly $6 billion, with $2.4 billion leaving in June alone. Deutsche Bank analyst Marion Laboure described Bitcoin as “increasingly trading like an institutional risk asset,” with the marginal buyer now an ETF allocator or corporate treasury rather than a retail participant. When those buyers exit, the price follows.　　Competition from artificial

06-25Exchange

Over $610 Million in Bitcoin and Ethereum Dumped by BlackRock

BlackRocks aggressive Bitcoin and Ethereum selling spree has failed to end, as the leading asset management firm remains consistent in steadily moving the assets out of its reserves.　　As the market continues to struggle to recover from prolonged volatility, BlackRock has transferred millions of dollars worth of Bitcoin and Ethereum to Coinbase in the past two days, according to data from blockchain monitoring firm Lookonchain.　　BlackRock clients still exercising caution　　Per the data, BlackRock has moved out a total of 7,160 $BTC and 98,850 $ETH to wallet addresses on Coinbase Prime over the last 48 hours.　　Based on the assets trading prices at the time of the transactions, BlackRock has moved Bitcoin and Ethereum tokens worth a combined total of $611 million over the period.　　Nonetheless, the data further revealed that the tokens were transferred across multiple wallet addresses associated with Coinbase Prime in three separate batches of large $BTC transfers and a single transfer carrying over 51,000 $ETH.　　When will BlackRock stop selling？　　Although the transactions have sparked mixed reactions among investors across the crypto community, the move has become extremely familiar and is often expected during periods when BlackRocks ETF products are witnessing net outflows.　　As such, BlackRocks continued transfer of large amounts of Bitcoin and

06-25Exchange

Morpho Raises $175M to Enhance On-Chain Credit Infrastructure

Morpho has successfully raised $175 million from prominent investors including Paradigm, a16z, and Ribbit Capital to enhance its on-chain credit infrastructure. This significant funding comes as the lending protocol reports $11 billion in deposits and counts major exchanges like Coinbase, Binance, and Kraken among its users. This information was shared in a recent tweet by CoinDesk.　　The Story So Far　　The broader crypto market is currently displaying mixed signals, but Morpho‘s recent capital raise stands out as a significant development. With the $175 million investment, Morpho aims to solidify its position in the rapidly evolving decentralized finance sector. This funding not only reflects investor confidence but also highlights the increasing demand for on-chain lending solutions in the digital finance landscape. The substantial deposits Morpho has accumulated underscore the platform’s appeal and reliability among key players in the market.　　By the Numbers　　Despite the lack of direct price movement or volume data specifically for Morpho, the recent funding round illustrates a broader trend in decentralized finance where established protocols are attracting significant investment. This inflow of capital could potentially lead to enhanced services and greater user adoption. As Morpho continues to build its infrastructure, the sentiment around such projects may positively influence the overall market

06-25Exchange

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