「1.2M Principal MON Long」 position is at 117% unrealized gain, and further added to the position with HYPE and ZEC longs.

CryptoQuant analyst Darkfost has stated that Bitcoin’s Unspent Transaction Output (UTXO) profit/loss ratio has fallen to its lowest level since the current bear market, indicating the market is entering a broader "capitulation" phase — the first time this indicator has sent such a signal during the ongoing correction. Darkfost pointed out that the number of UTXOs sold at a loss has reached a significant level; historically, this stage often corresponds to bear market bottom zones, presenting favorable allocation opportunities for long-term investors. The last time the indicator hit a similar low was in mid-2023, when Bitcoin briefly dropped to around $26,000. Another analyst, DurdenBTC, also noted that the UTXO bottom signal has been triggered. The indicator has successfully captured every market bottom since 2016, though actual bottom formation still requires time, and short-term market sentiment may remain subdued. Darkfost further added that the Spent Output Profit Ratio (SOPR) of long-term holders is gradually turning negative, showing long-term holders are starting to capitulate, while the current correction is mainly driven by short-term holders transferring large volumes of Bitcoin to exchanges. On-chain analytics firm Swissblock believes Bitcoin has largely completed the first stage of its decline and is now in the bottom-building phase, with prices stabilizing but market momentum still weak. Additionally, risk aversion has risen amid U.S. weekend airstrikes on Iranian targets. Bitcoin briefly fell to $59,800 before rebounding to around $60,100.

Tether is putting its approximately $23 billion in gold reserves to further use, partnering with crypto lending platform Ledn to expand use cases for its tokenized gold product Tether Gold (XAUT). Ledn has announced support for XAUT and plans to launch XAUT-collateralized lending services later this year, joining its existing offerings of Bitcoin and USDT-backed loans. Per available details, each XAUT token is backed by one troy ounce of physical gold stored in Swiss vaults. Tether states it holds around $23 billion in gold reserves, providing 1:1 backing for XAUT. Going forward, users will be able to access liquidity without selling their gold assets by collateralizing XAUT, a model similar to Bitcoin-backed lending. Tether CEO Paolo Ardoino noted that as digital assets grow in importance to the global economy, market demand for financial instruments balancing long-term holdings and capital flexibility continues to rise. In recent years, Tether has leveraged profits from USDT to expand its business footprint, now holding approximately 140 tons of physical gold, investing in precious metals trading platform Gold.com, and partnering with crypto finance firm Antalpha to advance XAUT’s applications in lending and physical redemption. Additionally, Tether has expanded into multiple sectors including Bitcoin mining, renewable energy, AI infrastructure, and computing power.

Bitfire Group stated in its latest market commentary that Bitcoin’s negative premium on Coinbase has continued to widen, signaling persistent weakness in U.S. institutional buying. Meanwhile, Strategy’s income preferred stock (ticker: STRC) briefly dipped below $84. Though there is no immediate liquidation risk, market concerns over whether the firm will need to sell Bitcoin continue to weigh on sentiment. From a technical perspective, Bitcoin remains trading below its 20-day and 50-day moving averages, with short-term MAs in a bearish alignment. The daily RSI stands at around 40—weak but not yet in oversold territory. The overall Bollinger Bands are sloping downward, with the middle band acting as strong resistance. Bitfire Group believes that with a lack of sustained bullish momentum and bears still holding the upper hand, Bitcoin will likely continue fluctuating below resistance levels in the short term, further testing actual buying demand on the downside. Key resistance levels are at $64,650, $66,900, and $69,800, while the main support level is at $63,500.

According to Lookonchain monitoring, renowned NFT collector Machi Big Brother recently allegedly sold Bored Ape Yacht Club (BAYC) NFTs to fund his long ETH position on Hyperliquid. Data shows that over the past month, Machi has sold a total of 34 BAYC NFTs, raising 326 ETH (approximately $514,000), but incurring a total loss of 399 ETH (about $631,000). Bored Ape #6057 was his most loss-making transaction: the NFT was purchased four years ago for 76.84 ETH, and recently sold for only 7.65 ETH, representing a roughly 90% loss. Meanwhile, Machi’s long ETH position on Hyperliquid has been liquidated multiple times recently. Lookonchain noted that he was liquidated again approximately 3 hours ago, leaving his account balance at around $81,000.

Thailand’s Department of Special Investigation (DSI) has issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of belonging to a criminal organization that allegedly uses illegal cryptocurrency mining to launder proceeds from fraud and online gambling. Wang, a former leader of the Thai-China Trade Association, is identified as a core figure in the involved Chinese investor group. Reuters’ 2023 investigative report, which centered on Wang, revealed that a U.S. blockchain analytics firm found fraud-related cryptocurrency wallets had sent millions of dollars to accounts under Wang’s name, while he actively cultivated ties with top Thai political and law enforcement officials at the time. A DSI spokesperson stated Wang was charged last November with theft and violations of the Computer Crime Act, adding that he is believed to have fled Thailand, and authorities are tracking his whereabouts in cooperation with international partners. Separately, Thai authorities have also issued arrest warrants for four unnamed Chinese nationals and four unnamed Myanmar nationals.

According to CNN, the situation has reversed sharply after the U.S.-Iran ceasefire deal took effect, with military clashes breaking out for three consecutive days between the two sides, multiple Gulf countries drawn into the conflict, and the Strait of Hormuz facing renewed severe threats to navigation. In the latest development, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed to have struck U.S. military facilities in Kuwait and Bahrain with missiles and drones in retaliation for earlier U.S. airstrikes. Kuwaiti military confirmed its air defense systems are intercepting incoming targets, while Bahrain's Interior Ministry issued an alert urging residents to head to the nearest safe locations immediately. For the U.S. military, U.S. Central Command announced multiple rounds of strikes on Iran's missile and drone storage facilities, military surveillance infrastructure, communication systems, air defense positions and mine-laying capabilities, citing Iran's "continuous attacks on merchant ships". Trump immediately issued the sternest warning on social media, saying that if Iran does not stop the attacks, the U.S. military will be forced to "complete the tasks already initiated by military means", and that "the Islamic Republic of Iran will cease to exist". Iran responded firmly, with the IRGC stating that the U.S. airstrikes violated the ceasefire deal and "will lead to a complete halt of all diplomatic processes". Meanwhile, the Israeli military launched a drone attack in southern Lebanon just one day after a framework agreement was reached between Israel and Lebanon, further complicating the regional situation. The preliminary agreement signed by the U.S. and Iran this month aimed at restoring navigation in the Strait of Hormuz is facing the risk of complete collapse amid the continuous clashes, and market concerns over oil prices, safe-haven assets and global energy supplies are rising sharply.