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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.

According to CoinNess market monitoring, BTC has fallen below $63,000. BTC is trading at $62,941.34 on the Binance USDT market.

A South Korean financial official has stated that a discussion is needed on how to regulate perpetual futures amid growing interest in the digital asset market, The Herald Business reported. Speaking at a recent event at the Seoul Southern District Court, Shim Won-tae, an administrative officer at the Financial Services Commission's Virtual Asset Division, described perpetual futures as an "area that needs discussion." He explained that while standard futures require intermediate settlement, perpetual futures use a separate mechanism called a "funding rate" to enable trading without an expiration date. Shim noted that a debate is necessary on whether to classify and regulate these instruments as traditional derivatives.

South Korean crypto exchange Upbit announced it will temporarily suspend deposits and withdrawals for Pharos (PROS) beginning at 3:00 a.m. UTC on June 25 to support the token's hard fork.

The Digital Chamber announced on X that Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has joined the crypto lobbying group as a new member. Previously, ICE partnered with crypto exchange OKX to establish a 50/50 joint venture aimed at building infrastructure for tokenization and digital financial products.

A circuit breaker has been triggered for the KOSPI index following a sharp decline.

The public testnet for Cardano's scalability protocol Leios, named Musashi Dojo, has launched, BeInCrypto reported. The testnet aims to increase network processing speeds from 4.5 KB/s to a maximum of 200 KB/s—an increase of roughly 30 to 65 times—by generating Endorser Blocks in parallel on top of the existing Ouroboros Praos consensus algorithm. The testnet will proceed in five stages named after the elements in 16th-century samurai Miyamoto Musashi's 'The Book of Five Rings': Earth, Water, Fire, Wind, and Void. Developer Input Output is targeting a mainnet hard fork for the upgrade as early as this November.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The upper section shows the Volume Heatmap, while the lower section displays the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks the volume of trades at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or experiences significant movement. Brighter-colored areas may act as potential support and resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line indicates orders between $100 and $1,000, while the brown line represents large orders ranging from $1 million to $10 million.

South Korean crypto exchange Bithumb announced it will temporarily suspend deposits and withdrawals for Pharos (PROS) starting at 5:00 a.m. UTC on June 25 to support a network (mainnet) upgrade.

South Korean crypto exchange Upbit announced it will temporarily suspend deposits and withdrawals for Scroll (SCR) starting at 3:00 a.m. UTC on June 25 due to a network upgrade.

The U.S. House Financial Services Committee is set to hold a special hearing on the CLARITY Act at 2:00 p.m. UTC on July 17. The hearing, titled "Building the Future of Finance: Innovation Unleashed by the CLARITY Act," will take place in New York.

The recent correction in Bitcoin is due to macroeconomic factors, not a rotation of capital into AI-related stocks, BIT (formerly Matrixport) argued in a new report. The firm suggested that the temporary decoupling between Bitcoin and the U.S. Software ETF (IGV) could be attributed to short covering, noting that the IGV has since experienced another significant decline. While the two assets have different business structures, they are both sensitive to the same macroeconomic variables, including the liquidity environment, interest rate outlook, and investor sentiment, the report explained. BIT added that both markets have shown weakness since last October, as the Fed has maintained a more hawkish stance.

The cryptocurrency market is expected to continue its range-bound trading for the time being, according to crypto trading firm QCP Capital. The firm noted that BTC briefly surpassed $65,000 yesterday, buoyed by positive news such as MicroStrategy's additional purchases and increased cash reserves. Broader risk-asset markets, including U.S. stocks, are currently experiencing mixed results and rotational trading. However, QCP Capital stated it is uncertain whether the crypto market will benefit from these capital flows. Persistent macroeconomic uncertainties, such as the standoff between the U.S. and Iran, market concerns over MicroStrategy's issuance of STRC perpetual preferred stock, and the hawkish stance of new Fed Chairman Kevin Warsh, are weighing on investor sentiment. For Bitcoin to break out of its tedious range-bound trading and rally, it will likely require a combination of macroeconomic tailwinds and a catalyst from within the crypto market itself, the firm analyzed.

U.S. spot Bitcoin ETFs experienced a net outflow of approximately $68.3 million on June 22, marking the third consecutive day of net outflows, according to data from Farside Investors. The daily flows for individual funds were as follows: - BlackRock's IBIT: -$172 million - Fidelity's FBTC: +$57.4 million - Ark Invest's ARKB: +$64 million - Franklin Templeton's EZBC: +$3.7 million - WisdomTree's BTCW: +$3.4 million - Morgan Stanley's MSBT: +$8.1 million - Grayscale's GBTC: -$81 million - Grayscale's Mini BTC: +$48.1 million