When Will Bitcoin Start Rallying and Will it Hit Zero Before Comeback?

Bitcoin is down more than 50% from its all-time high. Miners are shutting off machines. Capital that spent years flowing into crypto is chasing AI stocks instead. And the question being asked across every corner of the market right now is the same one it always is at moments like this: is it ever going to end?  Where Did All the Money Go  For anyone confused about why Bitcoin has been bleeding while the stock market printed record highs, Michael Saylor laid it out in a recent interview. The AI industry is currently trying to raise approximately $500 billion to power data centres, and that capital has to come from somewhere. A portion of it, he said, is coming directly from Bitcoin.  “They‘re creating a suction and they’re sucking capital out of every other asset class,” Saylor said. “One or two percent of that capital is coming from Bitcoin.”  His view is that this rotation is temporary by nature. Once the AI deals close and lockup periods expire, the traders and hedge funds who got in early will rotate profits back into other assets including Bitcoin. He estimates a 12 to 24 week cycle before that reversal becomes visible, pointing to the end of

06-24

Meta is developing a prediction market app called ‘Arena’ as sector booms: NYT

Meta (META), the parent company of Facebook, is developing a new app called “Arena” that mirrors a prediction market platform, according to people familiar with the matter who spoke with the New York Times.  The product would allow users to make forecasts about future events, ranging from politics and sports to entertainment and world affairs. However, unlike traditional prediction market platforms such as Polymarket or Kalshi, users would likely rely on a video game-like points system instead of cash, the people said, although the company has not ruled out the eventual use of real-money betting.  The people described the product as both experimental and a top priority inside the company.  The effort comes as prediction markets have gained unprecedented popularity following Polymarkets breakout success during the 2024 U.S. presidential election, when traders came to the crypto-based platform to place bets on electoral outcomes, driving billions of dollars in trading volume and elevating prediction markets into the mainstream political conversation.  Meta had previously launched a similar product called Forecast in 2020, which encouraged users to make predictions about current events and emerging trends during the early stages of the Covid-19 pandemic. Meta ultimately took down the product in 2022.  Metas renewed interest in the sector is

06-24

Susquehanna flags SpaceX valuation risk despite $170 target

SpaceX stock has remained under pressure after Susquehanna initiated coverage with a $170 price target while warning that the companys valuation depends on aggressive growth assumptions.  According to a research note from Susquehanna, the brokerage assigned SpaceX a neutral rating and set a $170 target for the stock as shares continue trading below their $150 debut price following a sharp post-listing rally and subsequent pullback.  Susquehanna Initiates Coverage on $SPCX with Neutral Rating, PT $170  Analyst comments: Over the 2025-2028 timeframe, we are forecasting SpaceX to grow revenue at an 81% CAGR and adjusted EBITDA at a 76% CAGR. In our view, some of SPCXs key competitive advantages include:  The firm projects SpaceX revenue to grow at an 81% compound annual growth rate between 2025 and 2028, while adjusted EBITDA is expected to expand at a 76% CAGR during the same period. Even with those forecasts, Susquehanna cautioned that the stock‘s current valuation requires premium multiples and leaves room for multiple outcomes as several of the company’s businesses operate in markets that remain relatively untested.  At current levels, the brokerage said it would prefer to wait for a more attractive entry point before becoming more constructive on the stock.  Analysts point to growth drivers but remain

06-24

Chainlink, Korean and European banks launch Project Pangea to settle EUR-KRW swaps via stablecoins

A consortium of financial and technology organizations led by Chainlink, FairSquareLab, UniKA and Qivalis has unveiled Project Pangea in a joint effort to establish a new framework for cross-border foreign exchange settlement using regulated stablecoins, according to a Tuesday statement.  The initiative aims to connect European and South Korean financial institutions, enabling direct exchanges between euro- and won-denominated stablecoins without relying on traditional intermediary currencies.  “This is a major milestone toward rebuilding how global value moves,” Fernando Vazquez, President of Capital Markets at Chainlink Labs, commented on the launch. “Project Pangea upgrades the fragmented foreign exchange model of today with direct, atomic currency swaps using stablecoins. This is a clear example of how the Chainlink standard powers global-scale settlement for the next generation of capital markets and a clear signal that global finance is increasingly moving onchain.”  Project Pangea focuses on delivering real-time atomic settlement through blockchain infrastructure while maintaining compatibility with existing banking systems.  Advertisement  The platform will support Payment-versus-Payment transactions, helping reduce settlement risk, improve capital efficiency and accelerate cross-border transfers, as noted in the release. The initiative combines Chainlink‘s interoperability and market data services with FairSquareLab’s liquidity and settlement technologies to create a multi-currency network for institutional participants.  “It [Project Pangea] opens a

06-24

Anthropic futures shrug off Coinbase debut and hit fresh lows

Anthropic pre-IPO futures have fallen as much as 9% since their Coinbase debut, with contracts on both Coinbase and Binance sliding to new lows despite fresh attention from traders.  SummaryAnthropic pre-IPO futures fell up to 9% after their Coinbase debut, with contracts on Coinbase and Binance hitting fresh lows.Traders appear cautious after SpaceX pre-IPO contracts traded above the eventual IPO price, exposing some investors to losses.Coinbase has warned that Anthropics final IPO price could differ by as much as 25% from current perpetual futures levels.  As reported by crypto.news, Coinbase added Anthropic and OpenAI pre-IPO perpetual futures contracts to its growing lineup of private-market trading products on June 22. Rather than benefiting from the exchanges listing effect that has historically boosted some newly listed assets, Anthropic futures moved sharply lower within a day of launch.  Per data from TradingView, the ANTHROPIC/USDC contract on Coinbase opened around $1,728 and was trading near $1,648 at the time of writing, representing a decline of roughly 7%. During the same period, the contract swung between a June 22 high of $1,769 and a June 23 low of $1,560, highlighting elevated volatility immediately after launch.  Similar price action emerged on competing venues. Binances ANTHROPIC/USDT perpetual contract dropped about 5%

06-23

Coinbase is selling pre-IPO perps on SpaceX, OpenAI, and Anthropic

You can now take a leveraged position on a rocket company that has never sold a public share. The mechanics are clever, the demand is obvious, and the pricing problem sitting underneath it is the part nobody is rushing to explain.  On June 16, Brian Armstrong unveiled what Coinbase calls the Everything Exchange, a sweeping update that folds crypto, stocks, prediction markets, and futures into a single account. Buried in the announcement was a product that deserves its own conversation: pre-IPO perpetual futures linked to private companies, starting with SpaceX and with OpenAI and Anthropic set to follow.  The pitch is direct. You no longer have to be an accredited investor with access to a private share sale to bet on the most valuable startups in the world. You can open a position on Coinbase like any other contract.  JUST IN: Coinbase to add SpaceX pre-IPO perpetual futures  That is a genuine expansion of access, and it is also a trade built on a foundation that does not work the way a normal futures market does. A perpetual future needs a price to track.  SpaceX, OpenAI, and Anthropic do not have one, at least not the kind that updates every second on a public exchange.

06-23

Bitmine Says It Has Met Russell 1000 Criteria in Test of Crypto's Index Moment

Ether treasury company Bitmine says it has met the eligibility criteria for Russell 1000 inclusion after appearing on FTSE Russells preliminary Russell 3000 additions list, raising the prospect that one of the largest corporate Ether holders could move deeper into mainstream equity portfolios.  Bitmine Immersion Technologies appeared on the preliminary additions list published by FTSE Russell on 18 Jun. The Russell 1000 –which tracks the largest US-listed companies by market capitalisation –sits within the broader Russell 3000 universe, and the company says its market cap qualifies it for the large-cap tier. The reconstitution becomes effective after US markets close on 26 Jun. Final index membership has not yet been confirmed.  Bitmine is a publicly listed Ethereum treasury company that uses capital markets financing and staking to build a large Ether ($ETH) balance sheet. The company said on 22 Jun that it held 5.67mn $ETH, equal to 4.7% of the tokens total supply.  Index inclusion matters because many exchange-traded funds (ETFs), mutual funds and institutional mandates track or reference benchmarks such as the Russell 1000. When a company enters an index, passive funds that replicate that benchmark may need to buy its shares, creating baseline demand that can help support prices.  Crypto moves into benchmarks  For

06-23

Visa and BCG Build on Allium as Startup Closes $40M Series B

Fortune was the first to report the raise, announced June 23, 2026. Amplify Partners led the round, with Kleiner Perkins and Theory Ventures participating. Amplify partner David Beyer is joining Alliums board.  From Three People to 30 Petabytes  Ethan Chan, co-founder and CEO, took to X to share details of the milestone. “Today, we manage 30+ petabytes of blockchain data that serves as the onchain system of record for institutions like Visa, BCG, and major banks and asset managers,” Chan wrote.  Chan and co-founder Cheng Han Lee started Allium in 2021 after meeting as college freshmen. The core problem they set out to fix: blockchain data was fragmented across hundreds of chains and unusable at institutional scale.  Today Allium ingests raw data from 150-plus chains and more than 10,000 protocols, normalizes it into standardized, queryable formats, and delivers it via APIs, data streams, and analytics tools to roughly 150 enterprise customers. Those customers include Visa, BCG, Coinbase, A16z Crypto, Stripe, Uniswap, and Phantom. Alliums data has been cited by research institutions including the U.S. Federal Reserve and Stanford University.  10x Revenue Growth Since Series A  Chan outlined post-Series A traction in his X post. Revenue grew 10x in the two years since that round closed in

06-23

Ondo Finance shifts 150mln tokens – Heres why traders are watching!

Ondo [$ONDO] continued trading inside a descending channel after its failed breakout near $0.39.  Since then, the altcoin has printed lower lows, falling to $0.3107. Even so, the Ondo Finance team carried out another monthly token transfer, drawing fresh attention from traders.  Why are traders watching these transfers?  According to Arkham data, the teams multisig wallet transferred 150 million $ONDO tokens to a new address. The transfer was valued at $49.56 million.  Source: Arkham  Previous transfers followed a similar pattern. Once moved, the tokens eventually landed on Coinbase.  Over recent weeks, the team has also deposited large $ONDO batches into exchanges. A week ago, for example, the teams wallet deposited 46.06 million tokens worth $16.78 million.  Those deposits came from an earlier transfer. As a result, traders may view the latest movement as a sign of possible future exchange inflows.  If these tokens reach exchanges while the altcoin remains weak, the added supply could weigh on price action.  Are investors still buying $ONDO?  Even so, demand has remained relatively strong. On the Spot market, $ONDO recorded negative Netflows over the past seven days.  Source: CoinGlass  More than $80 million worth of $ONDO flowed out of exchanges during this period. Although inflows also reached $80 million, outflows slightly exceeded them. This resulted in

06-23

My Wallet Multichain Wallet Hits 11 Chains — 9M Users, No Migration

What started as a single-chain wallet for The Open Network in 2022 has quietly become one of the more ambitious multichain experiments in self-custodial crypto. My Wallet— formerly known as MyTonWallet — has rebranded and expanded its My Wallet multichain walletplatform to cover 11 separate blockchains, bringing over 9 million existing users along for the ride without requiring a single migration step.  Key takeawaysMyTonWallet rebranded to My Wallet and now supports 11 blockchains: TON, TRON, Solana, Ethereum, Base, $BNB Chain, Polygon, Arbitrum, Monad, Avalanche, and Hyperliquid — with Bitcoin planned next.Over 9 million users across mobile, desktop, web, and Telegram Mini App are already on the platform with no migration required.Gasless transfers are live on TON and Solana, where the fee is covered by the token being sent rather than a separate gas token.A native AI Agent lets users send, swap, stake, and query portfolio data using plain-language commands.My Wallet ranks No. 7 on CertiKs Wallet Security Leaderboardand maintains a $100K bug bounty with no critical vulnerabilities reported since March 2024.  From TON-Only to 11 Blockchains  The rebrand from MyTonWallet to My Wallet reflects a structural shift in what the product actually is. The original wallet launched on The Open Network in 2022

06-23
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