Crypto stocks have fallen far more sharply than large-cap tech stocks: Coinbase and Circle have declined 69% and 72% respectively from their peaks, with Bitcoin briefly falling below $60,000, exacerbating bearish sentiment.

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.

According to EmberCN’s monitoring, on-chain whale address "sat0shi777" recently executed a rare operation of being trapped in both long and short positions simultaneously. On June 24, the whale opened a long position of 468 BTC at an average price of $62,729, with a position size of approximately $29.38 million. Shortly after, Bitcoin fell below $60,000, and the long position currently has an unrealized loss of around $1.86 million. Yesterday morning, amid a downtrend, the whale added to a short position of 47,500 ETH at an average price of $1,536, with a position size of roughly $72.94 million. However, ETH did not continue to decline afterward, and the short position currently shows an unrealized loss of about $1.23 million. The combined market value of the two positions is approximately $102.32 million, with a total unrealized loss of over $3.09 million, leaving the whale in the red on both long and short sides.

According to Lookonchain’s monitoring, a newly created wallet address bc1q4m has withdrawn 1,350 BTC from Binance, worth approximately $81.87 million at current prices.