Analysis: Bitcoin has traded below the cost basis of short-term holders for 8 consecutive months, with an average unrealized loss of 14.4%.

According to an official announcement, the June 10, 2026 version update is primarily a minor iterative upgrade, including adding an automatic Fast Mode for short conversations, a more reliable model routing mechanism, enhanced session state security and trust strategies, and an improved onboarding process for model providers, with the aim of boosting overall system stability and response efficiency.

According to HTX market data, SOL has fallen below $70, currently trading at $69.99, with a 24-hour decline of 1.56%.

OKX will launch multiple stock perpetual contracts, with detailed rules as follows: ZHIPU/USDT contract trading opens at 15:00 (UTC+8) on June 24, 2026 MINIMAX/USDT contract trading opens at 15:15 (UTC+8) on June 24, 2026 UVXY/USDT contract trading opens at 17:00 (UTC+8) on June 24, 2026 KORU/USDT contract trading opens at 17:15 (UTC+8) on June 24, 2026 SONY/USDT contract trading opens at 17:30 (UTC+8) on June 24, 2026 SMCI/USDT contract trading opens at 17:45 (UTC+8) on June 24, 2026

Wintermute’s over-the-counter (OTC) trading desk noted in a report that Bitcoin (BTC) and Ethereum (ETH) are gradually testing the lower boundary of their recent trading ranges, with BTC potentially retracing to around $59,000 in the short term. Options market pricing indicates BTC’s short-term expected trading range is $61,242–$63,563, while ETH’s is $1,606–$1,694, with implied volatility of roughly 1.9% and 2.7% respectively. The current market structure is weak, with no new buying inflows into ETFs. Summer liquidity declines, combined with macroeconomic and geopolitical uncertainties, have increased asset correlations and led to convergent price movements. It identifies $59,000 as a key support level, and notes that this week will see critical event-driven factors including Federal Reserve inflation data and month-end option expirations.

According to Bitget market data, Hong Kong-listed chip stocks rallied in afternoon trading, pushing the Hang Seng Tech Index up more than 2%. Hua Hong Semiconductor (01347.HK) surged over 18%, Semiconductor Manufacturing International Corporation (SMIC, 00981.HK) gained over 10%, GigaDevice Semiconductor (03986.HK) rose more than 6%, while Loongson Technology (06809.HK) and Macroblock Semiconductor (06908.HK) climbed over 5%.

CryptoQuant founder Ki Young Ju has published an article bluntly stating that Strategy’s current Bitcoin purchases function more as a liquidity absorber than a price catalyst. Over the past two years, Bitcoin’s realized market cap has surged by $467 billion, yet its price has dropped by 1%. Even with hundreds of billions in inflows, ongoing trading activity has failed to lift prices. Ki Young Ju notes that in the current environment of sharply rising selling pressure, Strategy’s buying is focused more on defending a price range than driving a breakout. Worse, continuous purchases may hinder a market-clearing deep correction, instead providing more holders with liquidity to take profits. Comparing the current cycle to the classic Bitcoin sequence of crash, capitulation, weak hands exiting, and whales reaccumulating, the market has spent nearly two years in a wide sideways range—neither strong enough to confirm a new bull market nor weak enough to trigger real capitulation. This has left weak hands unable to fully exit and strong hands failing to actively reaccumulate, meaning the market may need a full reset to build a stronger recovery. Ki offered three recommendations to Saylor: First, pause Bitcoin purchases until cash reserves and dividend coverage are restored; Second, establish a systematic, model-driven buying framework to change the market’s perception that Strategy always buys at local peaks; Third, build a disciplined selling framework for the next bull market—selling a portion near cycle highs is not betraying Bitcoin, but deleveraging, realizing shareholder value, and creating ammunition to reaccumulate at lower prices. This is not trading, but risk management.