Key Takeaways
-
Macro Environment:Following Powell’s congressional testimony, he reiterated there is no urgency to cut interest rates. However, potential trade agreements might prompt the Fed to act earlier. U.S. Treasury yields declined. Trump warned that the Israel-Iran conflict may reignite, briefly halting the rally in risk assets. U.S. equities were mixed; Nvidia reached a new all-time high and reclaimed the top spot in global market cap, driving the Nasdaq higher.
-
Crypto Market: Mixed macro signals. Multiple firms and institutions continue to announce crypto reserve plans. Bitcoin remained range-bound between $106K and $108K. Several ancient whales sold ETH, putting pressure on the ETH/BTC ratio. Altcoins were weak as a result, while Bitcoin dominance rebounded to a high of 65.72%.
-
Today's Outlook: U.S. to release Q1 final real GDP (annualized QoQ); ALT token unlock: 6.83% of supply, valued at approx. $6.7 million
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,092.15 | 0.00% |
| NASDAQ | 19,973.55 | +0.31% |
| BTC | 107,338.00 | + 1.18% |
| ETH | 2,418.54 | -1.22% |
Crypto Fear & Greed Index: 74 (up from 66 in the past 24h), indicating Greed
Project Highlights
Trending Tokens: HSK,MOVE,SYRUP
-
HSK: Guotai Junan International obtained a Hong Kong VASP license. Major brokerages like Guotai Junan use HashKey's Omnibus service for crypto trading. HSK surged over 50% on the news. Platform tokens KCS, OKB, BGB, and BNB showed resilience.
-
MOVE: Movement Foundation is actively executing its token buyback plan, now 54.2% completed. This positive signal boosted market confidence, with the token price jumping 20% in a day and 40% over the past week.
-
W: Coinbase added Wormhole (W) to its listing roadmap, prompting a brief 10% price surge.
-
NEAR: The NEAR community initiated a vote on reducing the fixed annual inflation rate of the NEAR token from 5% to 2.5%.
Macro Economy
-
On the second day of the Fed’s policy-focused congressional hearings, Chair Powell again noted that there’s no rush to cut rates, citing high tariffs as a major uncertainty. He emphasized the strength of the U.S. economy and the need for cautious action. He also mentioned that trade agreements could influence rate-cut decisions.
-
Trump stated he has begun interviewing candidates for the next Federal Reserve Chair.
-
Trump also claimed that the war between Iran and Israel is over but warned it could flare up again.
Industry Highlights
-
Powell: The stablecoin sector has matured significantly over the past years, and the regulatory framework has made major strides. The Fed is reviewing and retracting several past crypto-related guidelines.
-
EU: Plans to allow interoperability between stablecoins issued by EU-licensed entities and those issued by their non-EU subsidiaries, strengthening the MiCA framework.
-
Ohio: After passing HB 116 to ease crypto taxation, the next step is to create a state-level Bitcoin reserve.
-
Arizona: Passed Bitcoin reserve bill HB2324, pending the governor’s signature.
-
South Korea’s eight major banks are forming a joint venture to issue a KRW stablecoin.
-
Republic plans to tokenize shares of companies like SpaceX.
-
A former Blackstone exec and a Tether co-founder are raising $1B to build a listed crypto reserve company holding BTC, ETH, and SOL.
-
Ethereum-based stablecoin adoption hits an all-time high.
-
GameStop raises an additional $450M, planning to increase its Bitcoin holdings.
-
ProCap, led by Anthony Pompliano, adds 1,208 BTC.
-
Bit Digital to fully transition into an Ethereum staking and treasury firm, exiting Bitcoin mining.
-
SharpLink Gaming adds another 5,989 ETH, bringing total ETH holdings to 194,000.
This Week’s Outlook
-
June 27: U.S. May Core PCE Price Index; BLAST token unlock (34.98%, ~$22.5M)
-
June 28: Thailand SEC to block access to Bybit, 1000X, CoinEx, OKX, and XT.COM from June 28 onward
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
