Published by cryptonews24.eu | Market data as of ~04:00 UTC, June 15, 2026

Market Overview

Top Coins at a Glance

Source: Blockchain.com / CoinDesk / The Block, data as of early June 15 UTC

Market Analysis

Crypto markets are opening June 15 on a clearly positive note, with Bitcoin trading near $65,700 — up more than 2% on the day — and most major assets posting solid gains. Solana leads the majors with nearly a +5% daily move, while Hyperliquid’s HYPE is the standout performer at +8.67%. This broad-based bounce comes after one of the most brutal stretches of 2026, during which Bitcoin fell from its October 2025 all-time high of $126,000 all the way down to a cycle low of $59,375 on June 5 — a 53% drawdown.

The sentiment shift traces back to two converging catalysts. First, the long-awaited SpaceX IPO hit Nasdaq on June 12, debuting at $150 per share and quickly surging roughly 26% above that level. Standard Chartered analyst Geoffrey Kendrick argued that a large chunk of the $5.72 billion in Bitcoin ETF outflows recorded since mid-May was driven by investors liquidating crypto positions to raise cash for SpaceX allocations. With the IPO now live and allocations made, that specific selling headwind is expected to dissipate. Second, President Trump’s announcement of progress toward a US-Iran peace agreement ahead of the G7 summit has eased geopolitical anxiety. Falling oil prices — Brent crude dropping toward $87/barrel — reduce pressure on Treasury yields, which in turn gives risk assets like crypto more room to breathe.

Standard Chartered’s Geoffrey Kendrick issued a decisive call on June 12: “Winter is over. Welcome back to crypto Spring.” The bank maintained its year-end targets of $100,000 for BTC and $4,000 for ETH, while its long-term 2030 forecasts remain at $500,000 for Bitcoin and $40,000 for Ethereum. Key short-term confirmation levels to watch: BTC needs to reclaim and hold $66,000–$70,000 to validate a durable recovery. Key support remains at $61,000–$63,000. From a technical standpoint, the 14-day RSI is near 35 — historically oversold territory — which aligns with the bottom-calling narrative.

Latest News

• Standard Chartered Declares Crypto Winter Over — CoinDesk / Bitcoin Magazine, June 12, 2026 — Analyst Geoff Kendrick called $59,375 the definitive cycle bottom and reaffirmed $100K BTC and $4K ETH year-end targets, citing fading SpaceX IPO selling pressure and macro improvement.
• SpaceX IPO Debuts on Nasdaq, Holds 18,712 BTC in Treasury — Multiple sources, June 12–13, 2026 — Elon Musk’s SpaceX began trading at $150, now up ~26%, and disclosed a substantial Bitcoin treasury position, reinforcing the institutional crypto narrative.
• US-Iran Peace Deal Optimism Boosts Risk Sentiment — Investing.com / CoinGabbar, June 13–15, 2026 — President Trump’s comments about a potential deal ahead of the G7 eased geopolitical risk, supporting both equities and crypto markets.
• SBF Appeal Denied; Remains in Prison — Investing.com, June 13, 2026 — Sam Bankman-Fried’s attempt to appeal his 25-year fraud conviction was denied by the courts, closing another chapter on the FTX collapse.

Bottom Line

After a brutal six-month slide from $126,000 to $59,000, Bitcoin and the broader crypto market are showing the first credible signs of a trend reversal. Macro tailwinds — fading IPO-related ETF outflows, easing geopolitical risk, and potentially lower yields — are aligning with a technically oversold market. The key test in the days ahead is whether BTC can hold above $65,000 and reclaim $70,000 on meaningful spot volume. If so, the case for a “crypto spring” recovery becomes much harder to dismiss.

This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.

Sources: CoinDesk, Blockchain.com, The Block, Standard Chartered / Bitcoin Magazine, CoinGabbar, Investing.com, ZebPay ***

The post Bitcoin’s Current Structure: Analyzing the Latest Sell-Off appeared first on Coindoo.

Three separate readings on Bitcoin’s derivatives and positioning structure are pointing the same way: recent buyers are under heavy stress, leverage has been largely flushed, and funding has reset to neutral. With BTC trading around $64,200 after a slide that has cut roughly 49% from its October 2025 high near $126,000, the on-chain structure describes a market that has absorbed significant selling, though it does not, on its own, call the bottom.

Short-Term Holder Stress at Cycle Extremes

CryptoQuant’s Net Pressure Tilt metric, which tracks buying versus selling pressure from short-term holders (market participants who have held BTC for less than 155 days) over a 24-hour window, has fallen to roughly -28, one of the most negative readings of the entire cycle and a level seen only a handful of times since 2023. The cause is visible in the same chart: Bitcoin trades near $64,000 while the Short-Term Holder Realized Price, the average cost basis of that cohort, sits around $75,000, meaning those recent buyers are underwater by roughly 15% on average. That group is the one selling.

The historical context is worth naming carefully. Comparable extremes appeared in January 2024 ahead of the ETF-driven rally, in August 2024 before the Q4 breakout, and in January 2026 before the spring bounce. In each case the extreme reading marked peak selling pressure rather than the start of it. The pattern is consistent but not a guarantee, since the macro backdrop and catalysts differed each time, and an extreme can always become more extreme.

Open Interest and Funding Have Reset

The leverage picture has changed materially. Bitcoin open interest peaked above $90 billion during the $126,000-plus cycle high, collapsed to roughly $42.6 billion at the February 2026 low, and has only partially rebuilt to around $50 billion since. That leaves leverage well below cycle highs, which means the speculative overhang built up at the top has largely been cleared rather than carried into the current range.

CryptoQuant’s funding rate data confirms the same reset from a different angle. From February 2026 onward, funding flipped persistently negative as price fell from $120,000 toward $64,000, reflecting a sustained short bias and repeated long liquidations through the drawdown. The most recent reading sits near 0.002%, essentially neutral, after only a brief positive spike. In plain terms, the excess long leverage that typically has to be purged before a durable low has already been worked off.

Current Positioning: Neutral to Mildly Constructive

The live positioning data leans cautiously constructive rather than euphoric. Exchange net flows remain negative, with coins still leaving exchanges in a pattern that reduces immediately available sell supply, though the intensity of those outflows has weakened.

Funding is positive but cooling, open interest has ticked up by roughly 3% in a sign of early re-entry rather than aggressive speculation, and both spot and derivatives volumes have declined, with derivatives still the dominant venue. Taken together, the three datasets describe a specific condition: short-term holder selling pressure at a cycle extreme, leverage largely reset, and funding back to neutral. The stress is concentrated in recent buyers, while the broader, longer-term holder base remains in profit. That is the kind of structure that has preceded recoveries before, but it is a description of conditions, not a forecast.

What the Chart Shows

The daily structure remains in a confirmed downtrend, with all three major moving averages stacked overhead, creating significant overhead resistance. BTC trades around $64,200, up about 1.2% on the day, after an early-June plunge that briefly touched the $61,000 area and triggered more than $1.6 billion in liquidations across the market.

All three moving averages are falling and stacked overhead, leaving spot roughly 13% below the 50-day.

Data source: TradingView (Binance BTC/USD), as of June 13, 2026.

A reclaim of the $65,000 breakdown level would be the first step toward repairing structure, while the February low region near $55,000 to $60,000 is the support that matters on further weakness.

The Bear Case

A leverage reset does not make a bottom on its own. This decline came partly from forces on-chain data cannot fix: thirteen straight days of spot Bitcoin ETF outflows, Strategy’s first BTC sale since 2022, sticky inflation delaying Fed rate cuts, and liquidity rotating into AI equities. Each prior analog that turned up did so with a catalyst attached, the ETF launch, the Q4 macro turn. This one has none yet, which is why reset leverage could mark a pause rather than a floor.

What is Next

The triggers are external, not structural. A sustained return of positive net ETF flows would be the clearest demand signal after the recent outflow streak, and a shift in Fed rate expectations is the macro variable most likely to move risk appetite.

A formal US-Iran agreement, which Trump has said could be signed this weekend, is the nearest geopolitical wildcard; a confirmed signing could ease the risk-off backdrop that has weighed on crypto, though a breakdown in talks would cut the other way. The structure has done its part by clearing the overhang; what it cannot do is supply the catalyst. Until one arrives, the next decisive move rests on the macro, not the order book.

The post Bitcoin’s Current Structure: Analyzing the Latest Sell-Off appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/bitcoins-current-structure-analyzing-the-latest-sell-off/

The post Two Wall Street Banks Mark $60K as Bitcoin’s Floor Zone appeared first on Coindoo.

With BTC trading near $64,000 on June 14th, both views put current prices just above what these institutions consider a structural support zone, though the two banks reach that conclusion by different routes and with different conviction.

Standard Chartered: “Winter Is Over”

In a research note published June 12, Standard Chartered’s Global Head of Digital Assets Research, Geoffrey Kendrick, declared that Bitcoin’s drop to roughly $59,000 on June 5 marked the definitive cycle low. “Winter is over. Welcome back to crypto Spring,” he wrote, per CoinDesk. The $59,000 level represents a 53% retracement from Bitcoin’s October 2025 all-time high of $126,000.

Kendrick attributes the bottom to two macro shifts rather than technicals. First, the SpaceX IPO absorbed more than $5.72 billion in spot Bitcoin ETF redemptions since mid-May, as investors liquidated crypto to free cash for the listing; with the IPO now trading, that specific selling pressure has cleared. Second, progress toward a US-Iran peace deal ahead of the G7 summit has pushed Brent crude toward $87, easing inflation pressure and cooling Treasury yields, both of which had weighed on risk assets. The bank maintains year-end targets of $100,000 for Bitcoin and $4,000 for Ethereum, with Kendrick flagging ETH as structurally positioned to outperform BTC as the recovery matures.

The call is conditional, not declared complete. Standard Chartered is watching three signals to confirm $59,000 as a permanent floor: a return to net-positive US spot Bitcoin ETF inflows, renewed corporate treasury buying, and sustained oil-price stabilization or decline. Until all three confirm, it remains a high-conviction view rather than a verified outcome.

Charles Schwab: A Classic Bear Market With a Floor Near $60K

Charles Schwab frames the same zone more cautiously. Jim Ferraioli, the firm’s Director of Digital Currencies Research, describes Bitcoin’s condition as a classic bear market, down roughly 50% from its highs with sentiment washed out.

He sees strong fundamental support near $60,000 for two reasons: it aligns with the 200-week moving average, which has historically held during major bear markets, and it sits just above the all-in production cost for the most efficient miners. He is careful to note that support does not prevent price from briefly passing through; it marks a historically significant floor, not a guarantee. Crucially, Ferraioli does not expect a near-term bull market. He projects range-bound action between $60,000 and $80,000, with $80,000 acting as a ceiling because it represents the average cost basis of buyers from the past 18 months, many of whom lost roughly half their investment and are likely to sell at breakeven.

Two Banks, One Level, Two Conclusions

The agreement is on the number, not the outcome. Both institutions converge on the $59,000 to $60,000 area as structurally important, which is itself notable: a macro-and-flows desk and a fundamentals-and-technicals desk arriving at the same floor from opposite analytical directions. But Standard Chartered reads it as the launchpad for a recovery to $100,000, while Schwab reads it as the lower bound of a months-long range capped at $80,000 by trapped supply. For readers, the useful takeaway is the floor both agree on, paired with a genuine disagreement on what happens above it.

READ MORE:

Bittensor TAO Price Surges After U.S. Government Weaponizes Centralized AI

The Four-Year Cycle: A Reason for Caution and a Door

There is a longer-term lens worth holding alongside the bank calls. Bitcoin has historically moved in a roughly four-year cycle tied to its halving, with bull-market peaks followed by year-long bear markets before the next leg up. If that cycle is still in play, the timing matters. Bitcoin topped in October 2025, and it is now only June 2026, roughly eight months past the peak. In prior cycles, the bottom often arrived closer to a full year or more after the top, which would argue for caution before declaring the low is in.

But the same framework leaves a door open. This cycle’s peak landed in October, earlier than the November-to-December tops that closed out prior cycles. An earlier peak could mean an earlier bottom, compressing the timeline rather than extending it. If the cycle has shifted forward by a month or two, the June low near $59,000 could plausibly sit close to where a historical bottom would fall. The four-year pattern is a reason not to assume the worst is over, but it does not rule out that the worst has already passed.

Where the Thesis Gets Proven

The confirmation signals are concrete and near-term. A sustained return of positive net US spot Bitcoin ETF inflows after the recent outflow streak would be the clearest demand signal, and renewed corporate treasury buying, which Standard Chartered is watching closely, would echo the accumulation that supported prior cycle lows. On the macro side, stable or falling oil prices tied to the US-Iran situation would validate Kendrick’s thesis, while a breakdown in those talks would cut against it. On the chart, holding above the $60,000 zone both banks flag keeps the bottom thesis intact; a decisive break below would challenge it. The banks have named the level; the data over the coming weeks decides whether it holds.

The post Two Wall Street Banks Mark $60K as Bitcoin’s Floor Zone appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/two-wall-street-banks-mark-60k-as-bitcoins-floor-zone/

The post Bitcoin Threw Surviving Miners a Lifeline at Block 953,568 appeared first on Coindoo.

Bitcoin’s mining network has delivered one of its sharpest corrections of the year. The latest difficulty adjustment cut the metric by 10.09%, from 138.96 trillion to 124.93 trillion at block height 953,568, according to CoinWarz data. The move ranks as the 11th-largest downward adjustment in Bitcoin’s history and the second-largest of 2026, a direct consequence of the price weakness that squeezed miners through June.

What a Difficulty Adjustment Actually Is

Bitcoin automatically recalibrates how hard it is to mine a block every 2,016 blocks, roughly every two weeks, targeting an average of one block every ten minutes. When miners switch off and blocks take longer to produce, the network lowers difficulty to compensate; when hashrate piles back in, difficulty rises. It is a self-correcting feedback loop that keeps block times stable without any central coordinator, and a large downward move like this one is the protocol’s response to miners leaving the network.

This adjustment confirmed exactly that. The epoch ran 15.6 days, well beyond the 14-day target, a direct signal that hashrate had bled off the network and blocks were taking longer than intended.

Why Miners Went Offline

The trigger was price. Bitcoin fell roughly 15% in June, briefly dropping below $60,000 before rebounding toward $64,000, which compressed mining margins sharply. According to Galaxy Research, that decline pushed some hashrate offline as operations running older hardware or paying higher electricity rates slipped below breakeven.

The selloff also dragged hashprice, a measure of daily mining revenue per unit of hashrate, below the $30 per petahash mark that sits near gross breakeven for many operators. As TheEnergyMag noted, that threshold matters because it pushes more sites toward or below breakeven once corporate overhead, debt service, and expansion costs are counted; the most efficient fleets can stay profitable below it, while older machines and higher-cost operators are the first to power down.

There is a second, structural driver beyond price. A growing list of publicly listed mining firms has been redirecting energy and computing capacity toward high-performance computing and AI data center operations, which carry steadier revenue than Bitcoin mining at current prices. That reallocation removes hashrate from the network independently of short-term profitability, and it has become a recurring theme across 2026’s difficulty declines.

What the Adjustment Means for Miners

The drop is a direct reprieve for operators who stayed online. A roughly 10% difficulty reduction lifts the amount of Bitcoin earned per unit of active hashrate by a comparable margin, with the increase exceeding 9%. That improvement can push hashprice back toward and above the $30 per petahash threshold, easing the margin pressure that forced the shutdowns in the first place. In effect, the miners who endured the squeeze now capture a larger share of block rewards from the capacity that left.

Worth noting, the final 10.09% cut came in deeper than the roughly 9.55% that had been estimated in the hours before the adjustment, reflecting just how much hashrate had come offline by the time the network retargeted.

The Pattern of 2026

This is the third significant difficulty decrease of the year, and the second to rank among Bitcoin’s all-time largest. Difficulty fell 11.16% on February 7, a drop driven by price weakness compounded by winter-storm disruptions to mining infrastructure, followed by a 7.76% reduction in March. The current 10.09% cut sits between them in magnitude and joins February in the network’s 11 largest downward adjustments ever recorded.

Galaxy Research framed the move as the textbook pressure mechanism that plays out when prices fall: a lower price reduces miner revenue, marginal hashrate exits, and difficulty adjusts down to restore equilibrium for the operators that remain. It is the network functioning as designed, with the difficulty drop acting as the automatic stabilizer that keeps mining viable through a downturn.

READ MORE:

Two Wall Street Banks Mark $60K as Bitcoin’s Floor Zone

The next adjustment, estimated for around July 11, will show whether hashrate returns. If Bitcoin’s price stabilizes and the offline capacity powers back on, difficulty would climb again at that point; if miners stay off or continue shifting toward AI workloads, a further downward move is possible. For now, the network has reset to a level that gives surviving miners breathing room, and the direction of the next epoch depends largely on whether price recovers enough to bring the idled hashrate back.

The post Bitcoin Threw Surviving Miners a Lifeline at Block 953,568 appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/bitcoin-threw-surviving-miners-a-lifeline-at-block-953568/

The post Bitcoin Reclaims $65,000 as US and Iran Set Friday Deal Signing appeared first on Coindoo.

Bitcoin has pushed back above $65,000, trading up roughly 1.7% over the past 24 hours, after the United States and Iran announced a framework deal to end their war and reopen the Strait of Hormuz. The move ties crypto’s bounce directly to a geopolitical catalyst that markets had been waiting on for weeks, easing the energy and inflation pressure that had acted as a drag on risk assets through the spring.

The Deal That Moved the Market

According to Axios, the US and Iran agreed to a framework extending their ceasefire for 60 days, with a formal signing ceremony expected Friday, June 19, 2026, in Switzerland and nuclear talks to follow. The agreement is designed to restore shipping through the Strait of Hormuz, the waterway that handled roughly 20% of global oil and liquefied natural gas before the war and that Iran had largely closed since hostilities began in late February.

President Trump announced the breakthrough across two posts on Truth Social. In the first, he wrote that the deal was “now complete,” adding that he would “fully authorize the toll free opening of the Strait of Hormuz” and the immediate removal of the US naval blockade.

In a follow-up, he framed the wider stakes: “With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World.” Iran’s deputy foreign minister confirmed the agreement on state television, while Pakistan’s prime minister was the first leader to announce it, saying it would end military operations on all fronts, including in Lebanon.

Why It Lifted Bitcoin, and Why This Differs From the Usual Noise

The thin connection between a Middle East ceasefire and crypto prices runs through oil. Iran’s closure of the Strait had pushed energy prices higher through the spring, feeding inflation fears and keeping pressure on the Federal Reserve to hold rates, both headwinds for risk assets like Bitcoin. With the deal pointing toward reopened shipping lanes, oil prices have fallen since the announcement, easing exactly the macro pressure that had weighed on crypto.

What separates this from the steady drip of geopolitical headlines that usually move Bitcoin for an hour and fade is that it resolves a specific, quantifiable macro variable rather than sentiment. Most war-headline moves are reflexive: traders react to a threat, then unwind once nothing concrete changes.

This one alters an actual input to the inflation equation. Roughly 20% of global oil and LNG flows through the Strait, so its reopening feeds directly into energy prices, which feed into CPI, which feeds into the rate path that has governed risk appetite all year. The market is not pricing a vibe shift; it is repricing a real removal of an inflation driver, which is why the move had the conviction to break a resistance level rather than just produce a wick. Standard Chartered had recently flagged progress toward this deal as one of the conditions for Bitcoin’s floor, and the framework’s arrival clears one of the larger overhangs that had capped the recovery.

What the Chart Shows, and Why $65,000 Matters More This Time

On the 4-hour timeframe, the recovery has taken on a more constructive shape. Bitcoin bottomed under $60,000 on June 5, built a base, and stair-stepped higher through the second week of June before the deal news drove a sharp breakout above $65,000. Price has reclaimed the 50-day moving average near $63,200, which has turned upward, and is now testing the 100-day average around $65,450 as immediate resistance. The 200-day average near $71,300 remains well overhead and falling, a reminder that the larger trend is still down.

The reason to lean on the moving averages here, rather than horizontal support lines, is that this is a trend-transition moment, not a range. In a choppy range, prior highs and lows are the levels that matter; in a market trying to turn off a capitulation low, the question is whether shorter averages can flatten and cross back above longer ones, which is what signals the trend itself is shifting. The 50-day turning up while price reclaims the 100-day is precisely that early signal, which makes those two lines more informative right now than any drawn level.

The $65,000 level itself is worth a closer look, because it is doing more work this cycle than a round number usually does. It sits almost exactly where the 100-day average has descended to, meaning the psychological level and a major dynamic resistance have converged on the same price. That convergence is what makes a clean reclaim meaningful: in previous bounces this spring, Bitcoin stalled below its falling averages and rolled over, so holding above $65,000 would be one of the few times in this downtrend that price has overtaken a major moving average on a catalyst rather than drifting into it. Momentum supports the attempt, with the 4-hour RSI pushing toward 65, though that reading also flags the breakout as extended short-term, and a pullback to retest the rising 50-day as support would be the healthier path than pushing straight up.

READ MORE:

Bittensor TAO Price Surges After U.S. Government Weaponizes Centralized AI

The Catch: What Isn’t Settled

The framework is a starting point, not a finished accord, and that distinction matters for how durable the rally proves. The signing is set for Friday, not done, and the hardest questions remain open. Crucial issues including the restrictions on Iran’s uranium enrichment and the fate of its existing stockpile of highly enriched uranium are left to 60 days of subsequent talks.

The near-term signals are clear. Friday’s signing ceremony in Switzerland is the first confirmation point; an on-schedule signing would validate the move, while any delay would undercut it. Oil prices are the cleanest real-time gauge of whether the market believes the deal will hold, and continued softening there would support the case that crypto’s headwind has eased. On the chart, Bitcoin holding above the $63,200 level it reclaimed keeps the breakout valid, with the falling 200-day average near $71,300 the ceiling that defines whether this becomes more than a relief rally. The deal supplied the spark; whether it sustains depends on a signature on Friday and a nuclear framework that does not yet exist.

The post Bitcoin Reclaims $65,000 as US and Iran Set Friday Deal Signing appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/bitcoin-reclaims-65000-as-us-and-iran-set-friday-deal-signing/

The post BlackRock BTC Income ETF: Bloomberg Analyst Eyes June 18 Launch appeared first on Coindoo.

The asset manager filed a Form 8-A with the U.S. Securities and Exchange Commission on June 11, registering shares of the trust under Section 12(b) of the Securities Exchange Act ahead of a planned Nasdaq listing under the ticker BITA.

Bloomberg Senior ETF Analyst Eric Balchunas flagged the filing on X, writing that an 8-A “typically means launch in one week” and estimating the fund could go live as early as Thursday, June 18, while noting the timeline remains uncertain.

BlackRock filed an 8-A for the Bitcoin Premium Income ETF $BITA. That typically means launch in one week. So if I had to bet I’d say next Thur $BITA goes live. We’ll see tho. pic.twitter.com/jvJY8yhslh

— Eric Balchunas (@EricBalchunas) June 11, 2026

The registration landed two days after BlackRock submitted Amendment No. 4 to the fund’s S-1, filed June 9 and widely read as the final version before trading begins. That prospectus disclosed a 0.65% sponsor fee and $9.99 million in net assets, with seed capital already deployed. According to the filing, the trust acquired 109.96 BTC and 90,901 shares of IBIT on June 9 and wrote 856 options contracts to establish its baseline portfolio.

Unlike IBIT, which passively tracks the spot price of Bitcoin, BITA is an actively managed covered call product. The fund plans to sell call options primarily on IBIT shares and related spot Bitcoin indexes, collecting premiums to generate monthly income while keeping Bitcoin-linked exposure through holdings of BTC, IBIT, and cash. The structure tends to perform best in sideways or moderately rising markets, with the tradeoff of capped upside during sharp rallies. Per the prospectus, the fund could write calls on 25% to 35% of NAV each month.

The fee is part of the pitch. At 65 basis points, BITA undercuts the two largest existing Bitcoin covered call ETFs, which charge 0.95% and 0.99%, giving BlackRock room to compete on price as it layers a second product on top of IBIT’s liquidity base.

READ MORE:

XRP Sentiment Hits 8-Month Low as Price Tests Key SMA50 Resistance

Timing may matter as much as cost. Goldman Sachs filed for its own Bitcoin Premium Income ETF in April, with a launch expected around July. If BITA begins trading next week, BlackRock could secure a first-mover position in what is shaping up as the next competitive front in crypto ETFs, after the spot wave that began with IBIT’s January 2024 debut.

In practical terms, BITA targets income-oriented investors who want Bitcoin exposure with a monthly yield component and are willing to sacrifice part of the upside to get it: retirees, dividend-focused portfolios, and allocators seeking cash flow from a volatile asset. It is a poor fit for investors whose thesis depends on capturing Bitcoin’s sharpest rallies, since the covered call structure caps exactly those moves. Anyone seeking pure price exposure remains better served by a spot product like IBIT.

Investors should watch for official confirmation from Nasdaq and the SEC, as 8-A filings signal readiness but do not guarantee a launch date.

The post BlackRock BTC Income ETF: Bloomberg Analyst Eyes June 18 Launch appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/blackrock-btc-income-etf-bloomberg-analyst-eyes-june-18-launch/

The post SpaceX Becomes 7th Largest Publicly Listed Corporate Bitcoin Holder appeared first on Coindoo.

SpaceX began trading on Nasdaq today as something no other company on the BitcoinTreasuries.net leaderboard can claim: a rocket manufacturer that ranks as the seventh largest Bitcoin holder among publicly traded companies, and eighth on the broader leaderboard once pre-listing entrants are counted. The company’s 18,712 BTC, disclosed in its S-1 registration statement filed with the SEC in May, entered public markets the moment SPCX shares started trading, instantly placing the aerospace firm above Coinbase, Riot Platforms, and Elon Musk’s other company, Tesla.

A Position Twice as Large as Anyone Knew

The most revealing part of the disclosure is not the size but the gap. Before the S-1, tracking services including BitcoinTreasuries.net and Arkham had estimated SpaceX’s holdings at 8,285 BTC, based on prior reporting and on-chain analysis. The filing confirmed more than double that figure, exposing 10,427 coins that had accumulated entirely outside public view. SpaceX has held Bitcoin since early 2021, around the same time Tesla made its initial purchase, and the S-1 reports a total cost basis of $661 million, an average acquisition price near $35,320 per coin.

At current prices (as of June 2026) around $63,500, the position is worth roughly $1.2 billion, an unrealized gain of about 80%. According to Bloomberg’s read of the filing, the company frames the holdings as a strategic reserve for excess cash, with custody handled by an unnamed third party. The disclosure gap carries a broader lesson for analysts: corporate Bitcoin accumulation by private companies may be materially larger than tracker data suggests, and it only becomes visible when disclosure rules force it out.

Where SpaceX Lands on the Leaderboard

Data source: BitcoinTreasuries.net, as of time of writing on  June 12, 2026. 

One row on the table deserves a footnote. Bitcoin Standard Treasury Company appears fifth ahead of its market debut: the Adam Back-led firm is still finalizing its SPAC merger with Cantor Equity Partners and would trade on Nasdaq under the ticker BSTR only once the deal closes. Counting only companies whose shares are already live, SpaceX ranks seventh, not eighth.

SpaceX’s 18,712 BTC slots in just 320 coins behind Strive, the narrowest gap anywhere in the top ten, meaning a single modest purchase by either company could reorder the table. The entry also changes the Musk arithmetic: combined with Tesla’s long-static 11,509 BTC, companies under his leadership now hold over 30,200 BTC across two public balance sheets, and SpaceX surpasses Tesla as his largest Bitcoin vehicle by a wide margin. Tesla has not added to its position since trimming roughly 75% of its original stake in 2022.

The FASB Accounting Shift behind the S-1

The unmasked clarity of SpaceX’s crypto portfolio is heavily influenced by updates to FASB (Financial Accounting Standards Board) rules regarding corporate digital assets. Under historic guidelines, companies had to write down their crypto holdings to their lowest point during the quarter (impairment), but were banned from writing them up when the market rallied. Newer fair-value accounting practices require companies to reflect the true, live market value of their Bitcoin every reporting period, providing a completely clear picture of corporate balance sheets ahead of public market listings.

The Secret Symmetry: AI Infrastructure and Accounting Noise

The S-1 disclosure lands differently when viewed through the lens of SpaceX’s corporate trajectory. With the company’s deepening integration with Musk’s artificial intelligence venture xAI, whose exposure features in the prospectus, and its stated ambition to develop orbit-based AI data center networks built on Starlink, SpaceX’s capital requirements have fundamentally transformed. AI infrastructure is among the most capital-hungry buildouts in modern industry, and the Bitcoin position takes on a different character in that context.

Traditional financial analysts viewing Bitcoin as an incidental treasury asset may be missing the operational math. This position could function as a highly liquid, non-sovereign war chest, one designed to insulate the company’s massive compute infrastructure investments against localized banking risks or fiat depreciation rather than to make a statement about crypto.

The transition to mandatory fair-value accounting also presents a unique hurdle for future quarterly earnings calls. Because Bitcoin price movements must now be recognized each reporting period, a volatile swing in crypto markets could inject accounting noise into SpaceX’s net income: reported profitability could move by hundreds of millions of dollars in a quarter based purely on Bitcoin’s price, independent of how many rockets launch or how many Starlink subscriptions are sold. Institutional investors evaluating rocket reuse margins and Starlink subscriber growth will need to actively strip out Bitcoin’s unrealized gains or losses to assess the company’s actual operational health.

The Unintended Consequence: Index Capital Squeeze

Nasdaq’s fast-entry rules can make a very large newly public company eligible for Nasdaq-100 inclusion after just 15 trading days, rather than the seasoning periods that once kept new listings out for months. Once SPCX enters major benchmarks, passive index funds will be required to buy shares, and millions of everyday retirement savers will instantly inherit indirect exposure to an active $1.2 billion Bitcoin portfolio, whether they sought it or not.

READ MORE:

Bitcoin Looks Cheap On-Chain, But Has It Finished Correcting?

What Makes This Holder Different

Every company above SpaceX on the list is a crypto-native or treasury-strategy firm whose share price functions, partly or entirely, as a Bitcoin proxy. SpaceX is the first holder in the top tier whose Bitcoin is incidental to a $1.75 trillion core business of launches and satellite internet, which means the position is unlikely to move SPCX shares even as it quietly becomes one of the most widely held Bitcoin exposures in traditional portfolios.

The signal to watch is the first post-IPO quarterly report, expected in the September window: whether SpaceX treats 18,712 BTC as a static legacy allocation, the Tesla pattern, or continues accumulating as the strategic-reserve language implies. A second disclosure surprise in either direction would say more about corporate Bitcoin adoption than the IPO itself did.

The post SpaceX Becomes 7th Largest Publicly Listed Corporate Bitcoin Holder appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/spacex-becomes-7th-largest-publicly-listed-corporate-bitcoin-holder/

The post Bitcoin Looks Cheap On-Chain, But Has It Finished Correcting? appeared first on Coindoo.

Bitcoin has been under sustained pressure heading into today’s session. The asset trades at $61,600 as of June 10, down 2% in the past 24 hours and 8% over the past seven days, according to CoinMarketCap data. That puts it roughly $2,400 below the $64,020 level recorded in the on-chain datasets referenced throughout this article, which carry a June 4 timestamp.

The directional read from those metrics has only sharpened since: every valuation signal discussed below was already flashing undervaluation at $64,020, and at $61,600 the same signals look more stretched in the same direction.

The question worth asking now is not how far Bitcoin has fallen. It is whether what the blockchain data shows constitutes a genuine discount, or simply a market that has not finished correcting. Multiple independent on-chain metrics converge on the same reading: undervalued relative to long-run historical averages, but not yet at the extreme distress levels that marked prior cycle floors.

What Is the Realized Price, and Why Does It Matter?

Before getting into the specific numbers, it is worth explaining what the realized price actually represents, because it is the foundation for most of the metrics in this article. Every Bitcoin that exists last moved on-chain at some price. Someone bought at $20,000, someone else at $90,000, someone else at $5,000. The realized price takes all of those individual acquisition prices and averages them across the entire circulating supply. It is, in effect, the aggregate cost basis of all Bitcoin holders combined.

This makes it fundamentally different from a simple moving average of market price. It does not care about recent price swings. It reflects what people actually paid, weighted by how many coins changed hands at each price level. When market price is above the realized price, the average holder is sitting on an unrealized gain. When it drops below, as it did briefly in late 2022, the average holder is underwater. That level, where market price meets realized price, is where the most severe capitulation has historically occurred. It is the point at which even patient long-term holders may face psychological pressure to exit.

As of June 4, the realized price stood at $53,391. Spot was $64,020. The network, in aggregate, looks like it is still in profit, but the cushion appears narrower than at any point since the 2023 recovery. At today’s price of $61,600, that cushion may have compressed further to roughly 15%.

MVRV at 1.1: The Market Looks Barely Above Breakeven

The MVRV ratio (Market Value to Realized Value) is essentially the ratio between the current spot price and the realized price expressed as a single number. At 1.1, it suggests the market is trading at 1.1 times the aggregate cost basis, barely above breakeven for the average holder. Historically, MVRV readings below 1.0 have marked the deepest capitulation floors: briefly in 2019, and again in late 2022 post-FTX. Readings above 3.0 have consistently flagged cycle tops. The current 1.1 sits at the opposite end of the range from euphoria.

What looks worth noting here is the directionality. MVRV peaked at roughly 2.7–2.8 during the November 2024 and January 2025 highs, then compressed steadily as price declined. A drop from 2.8 to 1.1 may represent the removal of most of the speculative premium built up during the bull run.

The market looks like it has, by this measure, digested the majority of its excess. Whether it needs to go further depends on whether a washout to MVRV below 1.0 may be required to reset the cycle, something that has happened in every bear market prior to 2024, but which Grayscale Head of Research Zach Pandl argues may not be necessary this time given the structural changes in how Bitcoin is held and traded.

SOPR Below 1: Who Is Selling, and What It Might Tell Us

SOPR (Spent Output Profit Ratio) measures the realized profit or loss ratio of all coins moved on-chain on a given day. A value above 1.0 means the coins transacted that day were, on average, sold at a gain relative to when they were acquired. Below 1.0 means they were sold at a loss.

The current reading of 0.986 suggests that the average coin being spent right now may be moving below its acquisition cost. In practical terms, this looks like holders who bought during the 2025 rally are selling at a loss rather than waiting for recovery, which could be the behavioral signature of capitulation rather than profit-taking.

There is an important nuance here that is easy to miss. SOPR below 1.0 is not inherently bearish as a standalone fact. What matters is how far below 1.0 it goes and how long it stays there. During the post-FTX collapse in November 2022, SOPR briefly touched 0.95, a significantly deeper loss realization than the current 0.986.

The shallowness of the current dip below 1.0 might suggest either that the cohort of distressed sellers is smaller, or that the average loss they are realizing is more modest. Both interpretations look consistent with a less severe bear phase than 2022. The risk is the reverse reading: if SOPR stays below 1.0 for an extended period without price finding a floor, it may indicate that sellers are not being absorbed by buyers willing to accumulate. That scenario could push MVRV lower and potentially compress the market-to-realized premium toward zero.

Exchange Reserves: The Slow Drain Nobody Is Talking About

Bitcoin exchange reserves across all platforms tracked by CryptoQuant have declined to approximately 2.71M BTC, down from a peak of around 3.22M BTC in mid-2024. That is roughly 510,000 BTC removed from exchange custody over roughly 18 months, a 16% reduction in the immediately sellable supply.

The timing of this drain looks analytically significant. It did not happen during a rally when holders were depositing coins to take profit. It happened continuously through the price decline, which might mean the entities pulling coins off exchanges are treating the current price level as worth holding, not as an exit opportunity. There is a straightforward interpretation and a more cautious one. The straightforward reading is that this may represent structural accumulation by long-term holders and institutional custodians who have no intention of selling at current prices.

The more cautious reading is that some of this coin movement could reflect transfers between exchanges and OTC desks or custodial wallets that do not necessarily represent a change in selling intent. What looks less debatable is the supply arithmetic: fewer coins on exchanges means any demand spike could have less available supply to absorb it, which looks like it could accelerate price recovery when buying pressure returns.

ETF Flows: The Institutional Mood Shift

Spot Bitcoin ETF monthly flow data from SoSoValue provides the clearest window into how institutional allocators may be behaving. The picture over the past six months looks like a study in reversal. March and April 2026 brought combined net inflows of $3.29B. Then it stopped. May 2026 recorded $2.43B in net outflows, followed by $1.89B in further outflows through June 10, a swing of over $4.3B from inflow to outflow in weeks.

The practical implication looks clear: one of the primary demand channels supporting Bitcoin’s price recovery may have gone from active buying to active selling. ETF redemptions require authorized participants to sell underlying Bitcoin into the spot market, meaning outflows are not just a sentiment signal but could represent direct sell-side pressure on price.

The historical parallel from the same dataset looks mildly encouraging: January and February 2026 also saw back-to-back outflow months totaling roughly $1.8B before inflows resumed in March. That prior outflow episode resolved without requiring a deeper price low. Whether the current, larger outflow episode might follow the same pattern remains the key unknown.

The Two Variables That Might Decide What Comes Next

Grayscale’s Zach Pandl, writing on June 9 in the Grayscale macro report “Is Bitcoin Cheap Yet?” framed the near-term outlook around two specific catalysts rather than broad market sentiment. The first is the CLARITY Act. This is the primary U.S. digital asset market structure bill currently pending in the Senate. Pandl noted that prediction markets place Senate passage at roughly a coin flip.

A positive vote could establish regulatory definitions that have been absent from U.S. crypto markets for years, the kind of clarity that may remove a specific barrier institutional allocators cite when justifying limited crypto exposure. A failure or extended delay keeps that barrier in place and removes a potential near-term trigger for demand. The second is the stability of large leveraged Bitcoin holders. This looks like the less visible but potentially more impactful variable.

Entities carrying significant Bitcoin exposure through collateralized loans or leveraged futures positions may face automatic deleveraging pressure as price falls. If forced liquidations cascade at scale, they could drive MVRV and SOPR to the deeper distress readings that the current data has not yet reached. The difference between a shallow bear market and a severe one might come down to how much leverage needs to be unwound.

Weighing the On-Chain Evidence

The on-chain picture as of early June looks internally consistent. MVRV at 1.1, SOPR below 1.0, a market price roughly 15% above the network’s aggregate cost basis at current levels, and exchange reserves at a structural low all look like they point toward a market that may be cheap by historical on-chain standards. The part the metrics cannot resolve is timing and depth.

The Grayscale composite onchain valuation indicator, built from Glassnode data through June 7, looks like it sits below its long-run average but above the levels associated with the worst prior cycle bottoms. There may be measurable distance between current valuations and the kind of deep-value readings that characterized the 2022 floor. It looks like the data supports the case for accumulation at current levels on a multi-year horizon. It does not support the claim that the bottom has been confirmed.

Those are different statements, and conflating them is how investors end up buying something cheap that gets cheaper before recovering. The next six to eight weeks, covering the CLARITY Act Senate timeline and the next monthly ETF flow data, may well determine which outcome this cycle delivers.

Data Sources & Methodology

• On-chain data: CryptoQuant (MVRV Ratio, SOPR, Exchange Reserves, data as of June 2026).
• Price and realized price data: Coinglass (as of June 4, 2026).
• Current price: CoinMarketCap (June 10, 2026).
• Valuation framework: Grayscale Investments / Glassnode (Bitcoin Onchain Valuation Indicator, published June 9, 2026, data through June 7, 2026).

Disclaimer: This analysis is provided for informational and educational purposes only and should not be construed as financial, investment, or trading advice. Digital assets are highly volatile and carry a significant risk of capital loss. Past performance and historical on-chain patterns are not indicative of future market results. Always conduct your own independent research and consult a licensed financial advisor before making investment decisions.

The post Bitcoin Looks Cheap On-Chain, But Has It Finished Correcting? appeared first on Coindoo.

The post Satoshi’s First Contact Explains Why to Stop Measuring BTC in USD appeared first on Coindoo.

Speaking at the Proof of Talk conference in Paris, Adam Back, co-founder and CEO of Blockstream and inventor of Hashcash, laid out his framework for surviving Bitcoin’s volatility without panic-selling.

Back’s credibility on this topic is not incidental. In 1997, he invented Hashcash, a proof-of-work system originally designed to combat email spam. He was the very first person contacted by Satoshi Nakamoto via email in 2008, when Satoshi sought feedback on the proof-of-work mechanism and asked how Hashcash should be cited in what would become the Bitcoin whitepaper. The proof-of-work mechanism that secures every Bitcoin block today is a direct descendant of Back’s original design. When Back talks about Bitcoin conviction, he is speaking from a position most people in the industry cannot claim.

Back has maintained that long-term conviction publicly and consistently. In a previous interview covered by Coindoo, Back outlined his $1 million Bitcoin price target and his view on the strategic reserve, positions that provide direct context for the holding philosophy he elaborated on here.

The Mental Shift: Measure in BTC, Not Dollars

Back’s core argument is about the unit of account. In his early years, he measured his holdings in dollars, which made every price drop feel like a realized loss, even when he had not sold anything. The shift came when he stopped converting to fiat mentally and started treating Bitcoin itself as the baseline.

“One Bitcoin is one Bitcoin,” Back said. Under that framework, an 85% drawdown in dollar terms becomes noise. The number of coins held has not changed. The only thing that changed is the exchange rate between Bitcoin and a currency he no longer uses as his reference point.

This is not a psychological trick. It is a structural reframe that removes the emotional trigger for panic selling, the feeling of watching a number get smaller.

READ MORE:

Bitcoin Looks Cheap On-Chain, But Has It Finished Correcting?

The Statistics Behind HODL

Back’s case against market timing is not just philosophical, it is backed by data. He pointed out that removing just the 12 best trading days from any given year causes Bitcoin to lose money annually. The actual research supports this precisely: a data analysis by market analyst David Eng covering 2020 through 2025 found that missing just the 10 best trading days each year turned a median annual return of positive 90% into a median loss of 25%, a swing of 115 percentage points.

Fundstrat research found the same pattern dating back to 2013. During 2021’s bull market, the top 10 trading days produced a 179% return, while the remaining 355 days returned negative 43%. The gains are not distributed evenly across the year. They concentrate in a handful of sessions that are, by definition, impossible to predict in advance.

“Being out of the market is helpfully dangerous,” Back said. The data confirms it.

JUST IN: CYPHERPUNK LEGEND ADAM BACK JUST SAID HE HAS SEEN #BITCOIN DROP "85% MULTIPLE TIMES"

"IT DOESN’T MAKE A DIFFERENCE AT ALL"

"ONE BITCOIN IS ONE BITCOIN"

"YOU’RE BETTER OFF TO JUST HODL THROUGH THE BEAR MARKET" pic.twitter.com/NRVaFWTmIV

— The Bitcoin Historian (@pete_rizzo_) June 10, 2026

Why Back Endorses the Original HODL Post

Back specifically cited the original HODL post as one of his favorites, not for its cultural status but for what it actually said. On December 18, 2013, a Bitcointalk user named GameKyuubi posted “I AM HODLING” during a Bitcoin price crash, admitting he was a bad trader who could not time the market and would simply hold instead. The post received over 2,600 replies and spawned the term that has defined long-term Bitcoin holding ever since.

Back’s endorsement of it is pointed. GameKyuubi’s conclusion, that traders can only take your money if you sell, is not sentiment. It is a logical consequence of the same data he referenced. If the majority of Bitcoin’s annual gains concentrate in unpredictable sessions, then the only reliable way to capture them is continuous exposure. Selling during a downturn means you need to get back in at exactly the right moment twice, when you sell and when you buy back. The statistics make that nearly impossible to execute consistently.

Back’s conclusion mirrors GameKyuubi’s:

The information provided in this article is for educational and research purposes only. This content does not constitute financial or investment advice. Digital assets involve extreme volatility and risk of loss.

The post Satoshi’s First Contact Explains Why to Stop Measuring BTC in USD appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/satoshis-first-contact-explains-why-to-stop-measuring-btc-in-usd/

The post Coinbase: Middle East Wealth Funds Buy Bitcoin Dip appeared first on Coindoo.

During his interview with Squawk Box host Joe Kernen, D’Agostino declined to provide a specific price target, stating that he avoids directional price predictions. Instead, he focused on capital allocation trends among large-scale investors.

“I just got off a plane from the Middle East,” D’Agostino stated, “and I can tell you that the family offices in the UAE and the government and sovereign funds that have been putting the effort into buying this asset class are not unhappy at being able to buy it at a discount.”

This behavior indicates that these institutions are executing long-term investment theses rather than reacting to short-term volatility. These entities have spent years establishing compliance and custody frameworks, viewing lower prices as an optimal entry window.

Data from retail ETF products supports this thesis of market durability. While the spot price of Bitcoin corrected by nearly 50 percent from its all-time high, the total capital remaining in ETFs fell by only 15 percent according to D’Agostino. This divergence suggests that a majority of capital allocators are holding through the volatility rather than liquidating their positions.

Leverage Risks Isolated to Offshore Exchanges

When questioned about systemic risks and potential margin calls among institutional holders, D’Agostino indicated that the risk of forced liquidation is low for regulated institutions.

“On the institutional side, I’m not aware of any very large players that are horrifically over-leveraged,” D’Agostino said. He clarified that cascading liquidations are instead concentrated on offshore trading platforms that offer extreme leverage ratios to retail traders.

D’Agostino characterized current institutional sentiment as highly calculated. “I’m seeing them thinking about what’s the cheapest way for them to acquire new capital to buy into an asset that they loved at 125, they liked at 100, and they love even more at 65.”

READ MORE:

Robert Kiyosaki: Retail Is Missing the Real Crypto Play

Regulatory and Structural Developments

Rather than focusing strictly on price action, D’Agostino emphasized the underlying plumbing of the crypto market as a key differentiator from past cycles. He highlighted his visibility into the institutional systems being built to support digital assets during both bull and bear markets.

The structural environment is significantly stronger than in previous drawdowns. D’Agostino cited the seven bills moving through Congress as concrete evidence of regulatory maturation. These legislative efforts focus on defining market structures and establishing tax guidelines, providing the legal clarity necessary to support sustained institutional participation over a multi-year horizon.

At the time of writing, Bitcoin is trading at $63,655 according to TradingView, marking a severe correction from its cycle peak of $126,000. This represents a sharp price decline of 49.50%, matching the nearly 50 percent drawdown discussed by John D’Agostino, providing a concrete snapshot of the discount institutional buyers are currently utilizing.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

The post Coinbase: Middle East Wealth Funds Buy Bitcoin Dip appeared first on Coindoo.

Check our Market Overview 

Source: https://coindoo.com/coinbase-middle-east-wealth-funds-buy-bitcoin-dip/