Live Feed

An anonymous whale address starting with 0x9137b has opened a short position of 554,680 SOL, worth $38.14 million, on Hyperliquid (HYPE), Onchain Lens reported. The position has an average entry price of $69.23 with 20x leverage and a liquidation price of $84.88. The same address also holds an 11x leveraged short position on ETH worth $4.25 million, with an entry price of $1,680 and a liquidation price of $5,134.3.

Ethereum Layer 2 project Taiko (TAIKO) announced on X that it has identified the root cause of a $1 million exploit that occurred in its Vault yesterday. While the project did not disclose the specific cause, it stated that it plans to restart the chain within a few days. Taiko added that it is prioritizing affected users and working with its DAO board to determine the best course of action.

Glassnode noted on X that as Bitcoin's decline deepens, an increase in long position open interest on Hyperliquid (HYPE) is elevating the risk of a long squeeze. The analytics firm explained that despite the downturn, dip-buying sentiment is spreading, leading to a concentration in long positions. While selling pressure on altcoins is decreasing, Glassnode added that the overall market trend is being driven by Bitcoin's downward momentum.

Prominent crypto analyst Michaël van de Poppe has cited geopolitical risks related to Iran and selling pressure from BTC miners as the key reasons for the recent Bitcoin (BTC) correction. On X, he noted that selling from spot BTC ETFs only began in the last two weeks and that Michael Saylor's purchasing activity failed to significantly impact the market. Poppe suggested the correction was likely caused by the Iran-related issues, miner sell-offs, or a combination of both. He added that with the possibility of de-escalation in Iran now on the table, the correction phase may be nearing its end. Poppe also stated that he is continuing to buy BTC, reasoning that the market never allows for easy profits.

Miller Whitehouse-Levine, head of the Solana Policy Institute (SPI), believes there is a 50-50 chance that the CLARITY Act, a key piece of U.S. crypto regulation, will be passed this year. In an interview with Money Today, he noted that this is a significant increase from his estimate of around 15% just six months ago, citing recent progress. Whitehouse-Levine explained that the biggest sticking point is an ethics provision, as the Democratic Party wants to establish safeguards to check President Donald Trump's involvement in the crypto industry before the bill is brought to a Senate vote.

An impending dead cross between Bitcoin's 50-week and 100-week simple moving averages (SMA) could signal a market bottom and the start of a long-term bull market, according to a CoinDesk analysis. While a dead cross is typically interpreted as a bearish signal, historical charts show this specific event has previously been followed by the end of a bear market and a subsequent three-year bull run. The outlet explained that SMAs are strong lagging indicators, and by the time a 50/100-week dead cross occurs, significant deleveraging, an exit of short-term speculative capital, and capitulation selling have often already taken place. However, factors such as interest rates, ETF fund flows, and the movements of MicroStrategy (MSTR) will also affect future price direction, CoinDesk added.

Binance has announced it will delist four spot trading pairs: ME/USDC, NOT/FDUSD, PARTI/BNB, and SUPER/BTC. Trading for these pairs will cease at 3:00 a.m. UTC on June 26.

According to data from Coinglass, a Bitcoin price increase past $63,571 would trigger the liquidation of approximately $557.21 million in short positions on major centralized exchanges. Conversely, a drop below $61,639 would lead to the liquidation of $192.72 million in long positions.

According to CoinNess market monitoring, BTC has fallen below $62,000. BTC is trading at $61,943.71 on the Binance USDT market.

Major exchanges have seen $130 million worth of futures liquidated in the past hour. In the past 24 hours, $655 million worth of futures have been liquidated.

Seven major South Korean game companies, including Krafton and Netmarble, have been fined for using cryptocurrency wallets for international payments without reporting the transactions to foreign exchange authorities, SBS Biz reported. According to industry sources, the Korea Customs Service recently concluded an investigation into the firms, which also included Com2uS and Kakao Games. The companies were reportedly fined between tens and hundreds of millions of won for violating reporting obligations under the Foreign Exchange Transactions Act.

GRAM has fallen by 4.30% in the past five minutes on the COINNESS market. Currently, GRAM is trading at $1.62.

Decentralized exchange (DEX) Thorchain (RUNE) announced on X that its network has been fully restored and trading has resumed. Core functions, including swaps and liquidity provision, are now fully operational. Thorchain explained that during the recovery process, it prioritized stability over speed, inspecting all vaults and keyshares. The project added that it plans to launch a native Monero (XMR) swap feature, support Zcash (ZEC), introduce dynamic fees, and expand liquidity. Thorchain had suspended all swap and trading functions last month after a hack resulted in losses of approximately $10 million.

Bybit announced that it will delist spot trading for IMU, PENGUIN, and SPELL at 8:00 a.m. UTC on June 30.

Binance has announced it will temporarily suspend deposits and withdrawals for Polygon-based tokens to support the Polygon (POL) network upgrade and hard fork. The suspension is scheduled to begin at 1:00 p.m. UTC on June 25.

India's Financial Intelligence Unit (FIU) has demanded that three major domestic crypto exchanges submit details of over-the-counter (OTC) transactions exceeding $10,000, Cryptopolitan reported. The request covers all OTC trades over $10,000 that have occurred since January of this year. Authorities reportedly plan to secure transaction records, including information on beneficial owners, to enhance the transparency of fund flows.

Democratic Party lawmaker Ahn Do-geol has proposed a governance model for won-denominated stablecoin issuers that would require fintech companies to hold a 34% stake, Decenter reported. Speaking at an event at Hashed Lounge on June 23, Ahn suggested a structure where a consortium of banks would own over 50% of the shares to ensure stability, while fintechs could exercise management rights. This concept is an extension of a plan previously put forward by South Korea's Financial Services Commission, which allows technology companies to be the largest shareholders even as banks hold a majority stake of 50% plus one share.

A whale address dormant for seven years has sold 1,100 ETH, worth $1.9 million, Onchain Lens reported. The address is estimated to have realized a cumulative profit of $41 million to date. Onchain Lens noted that the whale had previously purchased 27,586 ETH for $5.72 million. The address currently holds 26,486 ETH ($44.86 million) and is continuing to sell through CoWSwap.

Cryptocurrency analyst Benjamin Cowen said on X that Bitcoin (BTC) is currently facing selling pressure between its bear market resistance zone and the 200-week simple moving average (200W SMA). He added that if this downward trend is confirmed in the coming months, investor sentiment could be significantly dampened. Cowen projected that this movement is likely part of the process of forming a market cycle bottom in the fourth quarter of this year.

Ripple announced it has received preliminary approval from Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), for a Crypto Asset Service Provider (CASP) license under the European Union's Markets in Crypto-Assets (MiCA) regulation. Once the company fulfills the remaining conditions to obtain the full license, it will be able to offer virtual asset services to financial institutions and businesses across the 30 countries of the European Economic Area (EEA). Ripple, which already holds an EU Electronic Money Institution (EMI) license, noted that final approval of the CASP license would allow it to provide integrated cryptocurrency and stablecoin payment infrastructure to banks, fintech firms, and corporate clients in Europe.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 50.22% long, 49.78% short - Binance: 50.19% long, 49.81% short - OKX: 50.3% long, 49.7% short - Bybit: 49.38% long, 50.62% short

Overseas remittances via cryptocurrency exchanges in South Korea surged 380% over the past three years, while those through traditional banks grew by 20%, SBS Biz reported. Last year, foreign currency remittances from the country's top five banks totaled 1,590 trillion won (approx. $1.22 trillion), a 20% increase from 1,318 trillion won (approx. $1.01 trillion) in 2022. Meanwhile, data from the office of Representative Kim Sang-hoon showed that over the same period, remittances through the top five won-denominated crypto exchanges jumped from 34.02 trillion won (approx. $26.2 billion) to 163.55 trillion won (approx. $125.8 billion), marking a 380% increase. Dongguk University Professor Hwang Seok-jin attributed the sharp rise in crypto remittances to lower transaction fees compared to banks.

Weekly cryptocurrency trading volume on the prediction market platform Kalshi has surpassed $1 billion for the first time, according to data from the platform.

Bitcoin is facing significant macroeconomic headwinds from a strong U.S. dollar, which poses a greater challenge than direct selling pressure, according to a report from Swissblock. The report noted that the confirmation of past Bitcoin bear markets has closely coincided with the U.S. Dollar Index (DXY) bottoming out and beginning to rebound. "While a weaker dollar created a favorable environment for BTC, the market mood reversed as the DXY turned bullish," the analysis explained. It added that in a strong-dollar environment, liquidity tends to shrink, accompanied by a rise in selling pressure and risk indicators, worsening conditions for the Bitcoin market. The rallies seen in April and early May were described as only temporary recoveries. "For BTC to sustain a meaningful upward trend, the dollar's strength needs to subside," the report concluded.

Major exchanges have seen $165 million worth of futures liquidated in the past hour. In the past 24 hours, $515 million worth of futures have been liquidated.