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Hong Kong-listed company CIMG has purchased 208 BTC, worth $13.5 million, according to Bitcoin Magazine.

BitMEX co-founder Arthur Hayes has presented a scenario in which Bitcoin could surge to $1 million when the current artificial intelligence (AI) bubble bursts, triggering a massive bailout from the Fed. CryptoSlate reported that Hayes, speaking on the Bankless podcast, argued the AI sector is currently absorbing all market liquidity. Hayes noted that from November 2022 to mid-2026, approximately $1.5 trillion in AI-related debt was issued, a figure that he said nearly matches the increase in the U.S. M2 money supply over the same period. He argued that the vast sums of money printed by the central bank have been entirely absorbed by AI infrastructure, such as data centers and GPU clusters, instead of flowing into the Bitcoin market. Macroeconomic analyst Luke Gromen echoed this sentiment, stating that while the stock market is hitting all-time highs, the structure is unhealthy as a few AI-related stocks are absorbing all liquidity. Describing Bitcoin as "the last working fire alarm" for the state of global liquidity, Gromen suggested that the cryptocurrency's current stagnation is a warning that global liquidity is drying up.

The "debasement trade," a strategy centered on betting against the value of fiat currencies, is rapidly unwinding, Walter Bloomberg reported. According to data from Polymarket, this trend has led to a surge in predictions that Bitcoin (BTC) could fall to as low as $48,000 by the end of the year as investors liquidate these positions. Meanwhile, capital continues to flow into stocks related to artificial intelligence (AI) and semiconductors.

More than $99 million has been liquidated in the cryptocurrency futures market over the past hour, Cointelegraph reported. Of this total, $90 million came from long positions.

An anonymous whale liquidated an 800 BTC ($48.8 million) long position, resulting in a $1.26 million loss as Bitcoin fell below $61,000, according to Lookonchain.

WTI crude oil futures fell below $70 per barrel as an increase in oil tankers passing through the Strait of Hormuz has eased supply concerns.

According to the U.S. Energy Information Administration (EIA), U.S. crude oil inventories, including the Strategic Petroleum Reserve (SPR), fell last week to their lowest level since October 1984.

Dunamu, the operator of South Korean crypto exchange Upbit, has responded to allegations of bribery for listing the PICA coin, which were raised by Lee Hee-jin, a figure known as the "Cheongdam-dong stock millionaire," TechM reported. Regarding a "PICA coin provision and sale history" and an "unofficial 10 million coin payment list" reportedly created by Lee, Dunamu dismissed the documents, stating they were created by Lee's side and that the facts have not been proven. The company emphasized that the documents were unilaterally created by Lee and are not accompanied by objective evidence. Dunamu reiterated that no employee has ever received money or other benefits for the purpose of providing listing support.

According to CoinNess market monitoring, BTC has fallen below $61,000. BTC is trading at $60,958.28 on the Binance USDT market.

The annual cumulative fund flow for global Bitcoin investment products (ETPs and ETFs) has turned negative for the first time since November 2023, signaling potential capitulation from institutional investors, The Block reported. Vetle Lunde, a senior researcher at crypto research and brokerage firm K33, stated that the one-year cumulative nominal fund flow for all global Bitcoin investment products, including spot and futures ETFs, stood at -1,176 BTC as of June 18. This is the first time the annual cumulative flow has turned negative since Nov. 4, 2023. Total assets held by global Bitcoin ETPs now amount to 1,466,029 BTC, a decrease of 127,774 BTC, or about 8%, from the all-time high. K33 described this as the largest outflow it has ever tracked, both in relative percentage and nominal terms, adding that the ETP outflows since mid-May have been unprecedented in their depth and scale. However, the firm also noted a pattern from the 2022 bear market, where Bitcoin bottomed and rebounded just weeks after the annual inflow first turned negative, leaving open the possibility that the market is currently in an oversold phase. "While the sell-off has calmed and leveraged positions have been cleared from the system, there are no signs of new buyers entering," K33 warned. The market is in a fragile equilibrium with no conviction from either buyers or sellers, which could lead to sharp volatility if institutional sentiment shifts decisively in one direction.

The Sentient (SENT) Foundation, a non-profit organization supporting open-source artificial general intelligence (AGI) reasoning and research, announced on June 24 the launch of a $42 million AGI Grant and Investment Program to support the open-source AGI ecosystem. The foundation stated that the program aims to support developers, researchers, and companies building and utilizing open-source AGI. The initiative includes a grant track for researchers, independent developers, and public good initiatives, as well as an investment track for startups and teams. Sachi Kamiya, Head of Ventures & Growth at the Sentient Foundation, emphasized that the future of AGI should be shaped by many rather than controlled by a few. Kamiya added that while some companies seek to monopolize AGI, control access, and set prices, the foundation's goal is to make AGI a public good, like air.

Markus Thielen, founder of 10x Research, predicted that Bitcoin (BTC) is likely to see further declines in the current bear market before establishing a bottom, CoinDesk reported. He pointed to the recent strength of the U.S. dollar as a headwind and noted that the market is pricing in potential interest rate hikes under the hawkish policy of new Federal Reserve Chairman Kevin Warsh. Thielen stated that three key indicators—global liquidity flows, the macroeconomic calendar, and Bitcoin's seasonality—all point to a potential market bottom between late August and October. Historically, September has been a weak month for Bitcoin, often followed by a rally in October, he added. In the current cycle, he forecasts that BTC will likely drop below $60,000 to find a floor around the $55,000 level. Thielen advised that now is a time for patience and that investors should begin to watch the market closely from late August.

Shares of Strategy (Nasdaq: MSTR), the largest corporate holder of Bitcoin, dipped below $100 today for the first time since March 2024, according to Google Finance. The stock hit an intraday low of $99.49 and is currently trading at approximately $100.25.

Major exchanges have seen $108 million worth of futures liquidated in the past hour. In the past 24 hours, $273 million worth of futures have been liquidated.

Star Xu, founder of the crypto exchange OKX, which has Chinese roots, has argued that Binance's renewed effort to obtain a Markets in Crypto-Assets (MiCA) license in the European Union is driven by an intent to engage in regulatory arbitrage—exploiting countries with laxer regulations. Writing on X, Xu pointed to a similar case in the U.K. in 2022, where Binance's attempt was ultimately blocked by the Financial Conduct Authority (FCA). He stated that the issue is not about obtaining a license in a specific country or hiring thousands of compliance personnel. The key, he explained, is whether compliance is genuinely embedded in the organization's culture and decision-making processes. Xu warned that a compliance framework can become a mere formality if the department lacks sufficient decision-making authority and access to information, or if it is sidelined for raising concerns about sanctions, anti-money laundering (AML), or market integrity. He concluded that genuine compliance stems from a commitment to governance, transparency, and accountability, not from the size of the workforce, adding that regulators assess actual results, not organizational charts.

The three major U.S. stock indices opened higher today. - S&P 500: +0.16% - Nasdaq: +0.11% - Dow Jones: +0.01%

An Israeli drone has attacked a vehicle near Kafar Reman in southern Lebanon, according to the country's state-run National News Agency (NNA).

Binance founder Changpeng Zhao (CZ) said in an interview with CoinDesk that while he remains the exchange's largest shareholder, he is not involved in its management. He added that the same applies to Binance.US, where he serves as a board member. Zhao explained that although he is the largest shareholder in both Binance and Binance.US, the two companies operate at a distance from each other, with separate management teams and investor groups. "We want to do more in the U.S., and personally, I want to help the U.S. become a center for cryptocurrency," he said, noting that consumers in the world's largest capital market are unable to trade crypto at optimal prices due to liquidity issues. Regarding his partner and Binance co-CEO He Yi, Zhao said that while they live together in the United Arab Emirates, they do not discuss Binance. He noted that even when he was CEO, He Yi had significant influence on company strategy and now runs the company. Zhao described their conversations about work as minimal, limited to brief remarks such as observing that a policy from two days earlier had caused the price of Bitcoin to fall.

Black Lake Digital Markets and Nuva Labs have tokenized $25 million in institutional residential mortgages on the open-source public blockchain Provenance, The Block reported. The asset will be used as the underlying collateral for a dedicated Black Lake vault to be established on NuvaFinance. The Provenance blockchain is a Layer 1 network specializing in financial services and has onboarded over $23 billion in real-world assets (RWA) to date.

According to CoinNess market monitoring, BTC has fallen below $62,000. BTC is trading at $61,996.79 on the Binance USDT market.

New York Stock Exchange (NYSE)-listed Bitcoin mining company Hyperscale Data (GPUS) has signed a Master Service Agreement (MSA) to provide 20 MW of AI computing capacity at its Michigan data center campus, FinanceFeeds reported. Hyperscale stated that the campus currently operates approximately 28 MW of Bitcoin (BTC) mining facilities and that it plans to convert some of this mining capacity to AI infrastructure as it expands its AI business. Meanwhile, as of June 21, Hyperscale Data held 726.94 BTC, valued at $45.9 million.

Walter Bloomberg, a financial news account with around 1.62 million followers on X, warned that while MicroStrategy's (MSTR) approximately $53 billion in Bitcoin (BTC) holdings are currently sufficient to cover its dividends, the company's financing conditions could deteriorate if the price of BTC declines further. The account added that some analysts are warning that a drop in BTC's price to $30,000 could force MicroStrategy to resort to a large-scale stock issuance to meet its debt obligations and secure funding. This could dilute existing shareholder equity and place additional downward pressure on MSTR's stock price. Moreover, a severe market downturn could lead the company to sell its BTC holdings, creating downward pressure on the crypto market itself.

SecondFi (formerly Yoroi), a Cardano (ADA) ecosystem wallet that suffered an exploit yesterday, announced via X that it has identified the root cause of the vulnerability. The team has deployed a patch to all unaffected wallets and expects to resume operations soon. SecondFi added that four separate fund outflows occurred from affected wallets, with a total of 16 million ADA (approximately $2.36 million) stolen from 374 addresses. The project also stated it took emergency measures to secure 129 million ADA that the attacker could have exploited. These funds have been transferred to a third-party custodian and will be held for affected users pending verification.

Prominent Bitcoin critic and Euro Pacific Capital CEO Peter Schiff has suggested that if short sellers drive MicroStrategy's (Nasdaq: MSTR) stock price down enough, the company's best option could be to sell its Bitcoin to buy back shares. He added that while such a move would reduce the stock's discount, it might not ultimately lead to a higher share price because Bitcoin would crash. Schiff described this as a scenario where MicroStrategy founder Michael Saylor would fall into a trap of his own making.

At the current burn rate on the XRP Ledger (XRPL), it would take hundreds of thousands of years to reduce the XRP supply to 500 million, according to an analysis by The Crypto Basic. The report notes that the total supply of XRP is approximately 99.98 billion, with 32.74 billion held in escrow and 67.22 billion in circulation. The XRPL currently burns an average of 373 XRP per day, amounting to about 138,000 XRP annually. Based on these figures, reducing the circulating supply from 67.22 billion to 500 million would require burning 66.72 billion XRP, a process calculated to take approximately 480,000 years. To decrease the total supply from 99.98 billion to 500 million would take an estimated 720,000 years. Since its launch in 2012, the XRPL has employed a mechanism to permanently burn a portion of transaction fees. Over the past 14 years, approximately 14.3 million XRP, valued at around $15.59 million at current prices, has been burned.