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Financial intelligence platform Farside Investor has diagnosed in a report that the price stability mechanism for Strategy's (MSTR) perpetual preferred stock, STRC, is effectively non-functional and could lead to significant long-term issues if the current structure is maintained. The report noted that STRC was designed to increase its dividend rate when the stock price falls below $100 to support its recovery and lower the rate when it exceeds $100. However, Farside described this as a structurally unstable mechanism, as rising credit risk for the company would necessitate higher dividend payments, creating a vicious cycle of increasing financial strain. Currently, STRC is trading at around $75, a 25% discount to its par value, yet Strategy has not increased the dividend rate. Farside argues this indicates the price stability mechanism has virtually collapsed, with no guarantee that STRC will recover to $100. The report suggests realistic alternatives for Strategy include buying back STRC shares or abandoning the mechanism and gradually lowering the dividend rate to the Secured Overnight Financing Rate (SOFR) level. While Strategy is likely to fund dividends in the short term by issuing new shares or selling BTC, Farside believes the company will probably move to buy back STRC or restructure its dividend system in the long run.

Crypto influencer Ansem, who has one million followers, predicted that U.S. stocks and semiconductor-related equities could be nearing a short-term peak, potentially leading to increased market volatility early in the third quarter this July. He suggested that this could trigger a temporary sell-off in the cryptocurrency market, coinciding with weakness in stocks. However, Ansem noted that he expects a bullish divergence to emerge soon for Bitcoin (BTC) and Solana (SOL), as both have already priced in a significant portion of their recent declines. While Hyperliquid (HYPE) may continue to show relative strength, it could also decline if the broader market undergoes a correction, he said. Ansem concluded by advising spot investors to view the third quarter as an opportunity for dollar-cost averaging rather than attempting to time the bottom for short-term profits.

The Spot CVD chart analyzes the order book for the BTC/USDT spot trading pair. The upper section displays a volume heatmap, while the lower section shows the Cumulative Volume Delta (CVD). - The volume heatmap tracks the scale of trading volume at specific price levels. The background color brightens when the price consolidates within a certain range or experiences a significant move. These brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line tracks orders between $100 and $1,000, while the brown line tracks large orders between $1 million and $10 million.

Ark Invest CEO Cathie Wood stated on X that capital flowing out of politically and economically unstable countries could become a new growth driver for the Bitcoin (BTC) and digital asset markets. She noted that while artificial intelligence (AI) is currently capturing the investment market's attention and leading technological innovation, it cannot substitute for the role of a store of value that many people seek. Wood predicted that these funds are likely to flow into the cryptocurrency market, driving new investment demand. She has previously offered a five-year price forecast for Bitcoin, with a base case of $750,000 and a bull case of $1.25 million.

Cryptocurrency trader Ali Martinez said on X that Bitcoin (BTC) has rarely traded below its 200-week simple moving average (SMA) historically. However, he noted that each time it has, the period has offered a favorable accumulation opportunity for long-term investors. Martinez suggested that a dollar-cost averaging (DCA) strategy is worth considering when BTC is trading below its 200-week moving average.

The European Parliament's Committee on Economic and Monetary Affairs (ECON) has recommended that the European Commission review the need for regulations covering decentralized finance (DeFi), staking, NFTs, and crypto lending services. In a report published on June 27, the committee proposed that these crypto services should be evaluated for inclusion under the EU's Markets in Crypto-Assets (MiCA) regulation. The report also urged the expansion of tokenized financial services and the promotion of euro-based stablecoins.

An address associated with Ethereum founder Vitalik Buterin transferred 7,000 ETH ($11.06 million) to a new address, according to Onchain Lens. Given the address's past transaction patterns, Onchain Lens noted that the funds are likely to be deposited onto an exchange.

The Hong Kong government has announced that regulated stablecoins are scheduled to be launched in the second half of this year. According to a written response submitted to the Legislative Council, the Hong Kong Monetary Authority (HKMA) granted stablecoin issuance licenses to two bank-backed institutions in April, and these entities will launch their products in line with their business plans. The government added that it has sent official notices to unlicensed stablecoin issuers outlining legal requirements and plans to submit a bill this year to establish a regulatory framework for virtual asset trading, custody, advisory, and asset management services.

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: 50.12% long, 49.88% short - Binance: 49.61% long, 50.39% short - OKX: 50.6% long, 49.4% short - Bybit: 50.3% long, 49.7% short

Nasdaq-listed Bitcoin mining company Bitdeer announced it mined a total of 253.9 BTC this week and sold the entire amount during the same period. The company currently holds no Bitcoin.

Venture capital firm Framework Ventures announced on X that it has closed a $400 million fund dedicated to investing in blockchain, artificial intelligence, and fintech.

U.S. spot Ethereum ETFs saw a net outflow of approximately $12.8 million on June 26, according to data from Farside Investors. This marks the seventh consecutive trading day of net outflows. With the exception of BlackRock's ETHA, all other ETFs recorded no net inflows or outflows. - BlackRock's ETHA: -$12.8 million

U.S. spot Bitcoin ETFs recorded a net outflow of approximately $444.5 million on June 26, marking the seventh consecutive day of net outflows, according to data from Farside Investors. The entire outflow came from BlackRock's IBIT, which lost $444.5 million, while all other ETFs reported zero net flows for the day.

With the passage of a 2026 tax ordinance bill by Hong Kong's legislature last week, a related bill for a crypto asset reporting framework (CARF) has now entered the review stage, local media outlet Ming Pao reported. According to Chan Wai-man, a member of the Legislative Council, the new framework is expected to bring approximately 8,000 additional financial institutions under a mandatory registration and taxation scope. Chan added that the Hong Kong government collected over 100 million Hong Kong dollars in back taxes and penalties between 2018 and 2025.

According to the Financial Times, a stake in the prediction market platform Kalshi received by Donald Trump Jr., son of President Donald Trump, has surged in value to potentially millions of dollars. Trump Jr. was given shares worth approximately $300,000 when he joined Kalshi as a strategic advisor in early 2025, investing none of his own funds. At the time, the company was valued at under $2 billion. However, Kalshi's valuation jumped to $22 billion in a funding round last month and is reportedly in discussions for another round as early as the third quarter of this year at a valuation of around $40 billion. The report added that Trump Jr.'s stake has been significantly diluted since he received it due to the issuance of new shares.

The U.S. Commodity Futures Trading Commission's (CFTC) surprise investigation into prediction market platform Polymarket is drawing strong backlash from the crypto and fintech industries, the Financial Times reported. Industry members have characterized the probe as excessive regulatory pressure that stifles innovation in collective intelligence and data analysis. Experts and supporters argue that Polymarket is not purely a gambling platform but rather a valuable tool for accurately predicting the outcomes of electoral, economic, and social events. The industry criticized U.S. state governments and other groups for treating the platform like illegal sports betting, calling it an outdated and heavy-handed regulatory approach to new financial technology.

Anthropic announced on June 27 that it has been working closely with the U.S. government since June 12 to restore access to its Claude Mythos 5 and FABLE 5 models. According to the company, the U.S. government has approved the redistribution of Mythos 5, which Anthropic describes as its most powerful cybersecurity model, to select institutions within the United States. Anthropic added that it is continuing to cooperate with the government to expand access to Mythos 5 and restore public access to FABLE 5.

Nasdaq-listed Sharplink (SBET) has purchased an additional 5,000 ETH, valued at approximately $7.88 million. This brings the company's total acquisitions over the past two days to 10,000 ETH, worth $15.73 million. Sharplink now holds a total of 886,285 ETH, with an estimated value of $1.4 billion.

Shares of MicroStrategy (MSTR) fell to $81.8 in after-hours trading, causing the company's mNAV—a metric comparing its total market value to the value of its Bitcoin holdings—to drop below 1. This indicates that investors are valuing the company at less than the Bitcoin it holds. Other companies with similar Bitcoin acquisition strategies, Metaplanet and Nakamoto, also have mNAVs below 1, at 0.9 and 0.92, respectively. Theoretically, MicroStrategy's policy when its mNAV falls below 1 is to halt Bitcoin purchases funded by stock issuance, use cash on hand to buy back its own shares, and increase the dividend rate on its preferred stock (STRC).

U.S. airstrikes on Iranian targets are currently underway, Fox News reported.

The U.S. Commodity Futures Trading Commission (CFTC) is conducting a broad investigation into Polymarket, CNBC reported, citing industry sources. While the start date of the probe has not been disclosed, it is understood to have followed a Wall Street Journal (WSJ) report last week that alleged Polymarket paid creators to upload fake betting videos.

Mark Zuckerberg has reportedly urged Meta Platforms (META) to explore a collaboration with the prediction market platform Polymarket, according to sources. This follows a previous report from the New York Times (NYT) that Zuckerberg had ordered the development of a prediction market app similar to Polymarket and Kalshi.

Ripple CEO Brad Garlinghouse said Michael Saylor's MicroStrategy has had a negative impact on the market. In an interview with CNBC, Garlinghouse pointed out that MicroStrategy's perpetual preferred stock (STRC) is trading at a 25% discount to its face value. He noted this demonstrates the limitations of a financial strategy that relies on borrowing to purchase Bitcoin.

Maxine Waters, a senior Democrat and the ranking member of the U.S. House Financial Services Committee, has urged the Department of Labor to reconsider a proposed rule that would permit cryptocurrency investments in 401(k) retirement plans. According to CoinDesk, Waters submitted an 11-page comment letter arguing that it is contradictory for the department to approve crypto for the retirement funds of ordinary Americans while the Securities and Exchange Commission (SEC) is still developing investor protections to make such assets safe. She stressed that the risks extend beyond the extreme volatility of individual tokens, reflecting what she described as a deteriorating situation across the entire crypto ecosystem, which has seen a collapse in trading activity, developer participation, and user engagement. Waters is considered a likely candidate to return to her former position as chair of the House Financial Services Committee if the Democratic Party performs well in the November elections.

The three major U.S. stock indices closed lower today. - S&P 500: -0.06% - Nasdaq: -0.24% - Dow Jones: -0.11%