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Cryptocurrency experts have pointed to the market's excessive reliance on MicroStrategy (MSTR) following a simultaneous drop in the prices of Bitcoin and MSTR stock, according to BeInCrypto. The decline came after MicroStrategy sold 32 BTC, its first sale in 41 months. Although the amount sold represents less than 0.004% of the company's total holdings of 843,706 BTC, Bitcoin's price fell 8.6% to the $67,000 level, while MSTR shares dropped by approximately 10% in a single day. Bloomberg ETF analyst Eric Balchunas commented that Bitcoin is overly dependent on the investment narratives surrounding ETFs and MicroStrategy, stating that these factors should be supplementary to its value, not its entire foundation. Meanwhile, some market participants have raised concerns about MicroStrategy's future ability to raise funds and purchase more BTC. They noted that the company sold the Bitcoin to pay preferred stock dividends and that the price of its STRC preferred stock has fallen below its $100 reference price.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has updated its Specially Designated Nationals (SDN) list, adding several Iranian cryptocurrency trading platforms and related individuals. The measure was announced on June 2. Under the sanctions, any U.S.-based assets of the designated entities are frozen, and U.S. persons are prohibited from transacting with them. The Treasury stated that the sanctions were imposed due to the platforms' and individuals' involvement in financial activities connected to Iran.

Shares of MicroStrategy (MSTR), the largest publicly traded holder of Bitcoin, have fallen for two consecutive days following the disclosure of a recent BTC sale. The stock closed at $136.08 on June 2, down more than 70% from its 52-week high of $457.22. Last week, MicroStrategy announced it had sold 32 BTC at an average price of $77,135, securing approximately $2.5 million. However, this sale represents a small fraction of the company's total Bitcoin holdings, which are valued at over $56 billion. During the same period, Bitcoin has also shown weakness, trading around $67,288, a decline of more than 46% from its all-time high of $126,080. Meanwhile, investment bank TD Cowen has maintained its $400 price target for MicroStrategy, suggesting a potential upside of about 194% from its current price.

Whale Alert reported that 345,838,818 USDT has been transferred from an unknown wallet to Bitfinex. The transaction is valued at about $345 million.

Whale Alert reported that 345,838,818 USDT has been transferred from Kraken to an unknown wallet. The transaction is valued at about $346 million.

Major exchanges have seen $260 million worth of futures liquidated in the past hour. In the past 24 hours, $1,483 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $67,000. BTC is trading at $66,939.11 on the Binance USDT market.

The New York State Department of Financial Services (NYDFS) has signed a memorandum of understanding with the European Banking Authority (EBA) to cooperate on stablecoin regulation, Decrypt reported. The authorities will collaborate on areas such as information sharing to aid in the supervision of stablecoins.

Tom Lee, chairman of the Ethereum strategy-focused listed company Bitmine (BMNR) and co-founder of Fundstrat, said at a recent conference that structural changes are underway that could push Ethereum (ETH) to $250,000. According to CoinDesk, he argued that artificial intelligence (AI) and tokenization are driving a massive transformation in financial infrastructure, which could grow the Ethereum network's value into the trillions of dollars. Lee also emphasized that the era of the Ethereum Foundation is ending, noting that it has been reducing its influence for years and now holds only about 100,000 ETH. He predicted that corporate validators will take the foundation's place. He concluded that current bears are selling at the bottom, adding that widespread bearish sentiment is a signal of a market floor.

U.S. Secretary of State Marco Rubio said on June 2 that negotiations with Iran are still underway, but the timing for a potential agreement remains uncertain. He made the remarks during a hearing of the Senate Foreign Relations Committee, his first congressional testimony since the U.S. and Israel launched a major military operation against Iran in late February. In response to questions from lawmakers, Rubio explained that Iran has agreed to negotiate on parts of its nuclear program, a shift from its previous refusal to engage in dialogue. While an agreement could be reached today, tomorrow, or next week, he added there is no guarantee that a final deal requiring congressional ratification will be reached. Rubio also stressed that the U.S. has not offered to lift sanctions or allow the use of frozen assets in exchange for the reopening of the Strait of Hormuz. Any sanctions relief must be conditional on resolving the issues with Iran's nuclear program, which was the reason for the sanctions, he said.

U.S. President Donald Trump said talks with Iran are ongoing, Walter Bloomberg reported.

Tether Wallet, the wallet division of Tether, issuer of the world's largest stablecoin USDT, announced on its official X account that it now supports the Tron (TRX) network. As a result, the wallet will integrate and support Tron-based USDT.

An Ethereum (ETH) research team, including Thomas Coratger and Justin Drake, has proposed a key registry design as the first step in transitioning the network to be quantum-resistant, The Defiant reported. The proposal addresses the risk that quantum computers could break the encryption of existing BLS-based keys. The team's solution is to introduce a 'PQ key registry,' which would allow validators to register new, quantum-resistant keys while continuing to use their current ones. This approach is conceptually similar to validators being issued a new, more secure form of identification to be held in reserve until needed. The second phase of the transition would occur once a majority of validators have registered their new keys, at which point the network would switch to using them for signature verification.

Coinbase Ventures, the venture capital arm of the largest U.S. cryptocurrency exchange Coinbase, announced via its official X account that it has purchased Ethena (ENA) on the open market. The specific size of the purchase was not disclosed. Coinbase Ventures added that Ethena is a key player in on-chain finance and that it has high expectations for a closer partnership with Coinbase and USDC.

The sale of Bitcoin by MicroStrategy (MSTR), the largest publicly traded holder of the asset, is a completely separate issue from potential sales by other listed companies, Decrypt reported. Luke Nolan, a senior researcher at CoinShares, stated that while it is significant that the largest and most well-known company sold BTC, it does not pressure other digital asset treasury (DAT) companies to follow suit. Bitwise analyst Kamran Khorasbi added that whether other DATs sell their BTC holdings has little to do with MicroStrategy and depends on their individual financial situations. He noted that MicroStrategy's sale does not signify the end of corporate crypto treasuries.

Major exchanges have seen $175 million worth of futures liquidated in the past hour. In the past 24 hours, $1,226 million worth of futures have been liquidated.

Only 7% of cryptocurrency operators in Europe have so far obtained licenses that comply with the European Union's Markets in Crypto-Assets (MiCA) regulation, BeInCrypto reported. As of 2024, there are 2,747 registered Virtual Asset Service Providers (VASPs) across the EU, but only 210 of them have secured a MiCA-compliant license. The current MiCA law requires firms to obtain a Crypto-Asset Service Provider (CASP) license by July 1. After this deadline, unlicensed companies must cease operations. Meanwhile, the European Commission recently launched a formal review of the MiCA legislation.

Decentralized derivatives exchange EdgeX announced on its official X account that it is offering an on-chain bounty of 200,000 USDC for information that can identify the attacker responsible for a 71% crash in its native EDGE token yesterday. The exchange stated the incident was a deliberate and targeted attack, explaining that the perpetrator combined on-chain DEX liquidity during a period of low trading activity, high-leverage perpetual futures, and CEX liquidity to induce the flash crash. Meanwhile, allegations of insider dumping have surfaced in Telegram and X communities, with users pointing to evidence of EDGE tokens being transferred from an official team address to an exchange.

Cryptocurrency market analytics firm Kaiko has acquired Amberdata, a company specializing in crypto financial infrastructure. In an official blog post, Amberdata stated that the acquisition, which follows Kaiko's earlier purchase of on-chain data infrastructure provider Cometh, will further solidify Kaiko's position in the digital asset data solutions sector.

U.S. stock and crypto trading app Robinhood announced on its official X account that it will unveil a new crypto financial product at approximately 6:00 p.m. UTC on July 1. The company stated that the launch event, to be held in London, will mark the beginning of borderless markets and present its latest vision for the future of finance. Robinhood added that its new products aim to merge cryptocurrency with traditional finance and help reshape the global financial services landscape.

According to CoinNess market data, Ethereum (ETH) has fallen below the $1,900 mark. On Binance, the cryptocurrency is currently trading at $1,897.2, down 4.04%.

Major exchanges have seen $254 million worth of futures liquidated in the past hour. In the past 24 hours, $1,111 million worth of futures have been liquidated.

Institutional investors are shifting funds from Bitcoin (BTC) and Ethereum (ETH) to Hyperliquid (HYPE), according to Joshua Lim, head of markets at crypto prime brokerage FalconX. In an interview with CoinDesk, Lim explained that Hyperliquid's HYPE token and its platform are establishing themselves as a key liquidity hub for hedge funds and institutions. This shift comes as BTC and ETH show weakness amid macroeconomic uncertainty and spot ETF outflows, prompting speculative capital to move into HYPE, ZEC, and AI-themed tokens, he noted. Lim added that on some days, HYPE's trading volume has even surpassed that of ETH.

On-chain analysis firm Bubblemaps has urged centralized exchanges (CEXs) to intervene against apparent price manipulation involving the LAB token. On its official X account, Bubblemaps described LAB as the latest in a series of manipulated tokens that includes RAVE, SKYAI, and PIPPIN. The firm criticized CEXs for remaining silent even when clear manipulation patterns are observed. Citing on-chain analyst ZachXBT, Bubblemaps noted that insiders allegedly control over 95% of LAB's supply. According to the firm, several wallets also moved 1.5% of the supply, valued at approximately $300 million, to Aster immediately before a price surge. Bubblemaps outlined several typical patterns of such tokens: - Inflows and outflows of tokens worth millions of dollars on CEXs - Abnormal on-chain movements preceding price fluctuations - Supply concentration in a small number of new wallets

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $617.67 million liquidated (96.24% longs) - ETH: $142.90 million liquidated (85.56% longs) - SOL: $37.46 million liquidated (94.87% longs) The total liquidation volume across the entire crypto perpetual futures market is approximately $1.02 billion.