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Hong Kong Exchanges and Clearing (HKEX) and the Hong Kong Monetary Authority (HKMA) have announced a joint pilot program to improve settlement efficiency in the derivatives market during after-hours trading. The plan will test a method for paying upfront margin deposits during overnight trading hours using the digital Hong Kong dollar (e-HKD), a 24-hour wholesale central bank digital currency (CBDC). This is expected to strengthen risk management in the derivatives market by enabling margin payments outside of traditional banking hours.

A trend has emerged in the Binance Bitcoin futures market where retail investors are absorbing sell-offs from whales, according to an analysis by CryptoQuant contributor Crazzyblockk. He described this as a "distribution-into-strength" strategy by whales, suggesting it could lead to either a rebound from a short squeeze or a continued downtrend as the whales seem to anticipate. The deciding factor, he noted, will be if the Leverage Influence Ratio (LIR) surpasses a +1.0 standard deviation, which would signal an influx of new leveraged positions and set the market's direction. The analysis is based on four key signals: - Potential for a short squeeze: The funding rate on Binance is 370 basis points lower than the median of three major exchanges (Binance, OKX, and Bybit), a level in the bottom 2.8% since 2021. This implies that leveraged positions on Binance are structurally more biased toward shorts compared to OKX and Bybit combined, creating more room for a rebound if a short squeeze occurs. - Retail investors are buying the dip: The Taker Buy Sell Aggression Index (TBSAI) has jumped by 2.66 standard deviations in 30 days, rising from -1.85 relative to the mid-May average to its current +0.809. This signals that retail investors are buying at lower prices with conviction. - Whales are selling: The Inflow Whale Concentration Ratio (IWCR) is at +0.1024, placing it in the top 22.5% of its historical range. Whale addresses have been net sellers for several weeks. Ultimately, retail investors are the primary buyers, while whales are the primary sellers. - Leverage is neutral: The LIR is at -0.40 standard deviation from its average, indicating a completely neutral state after the liquidations in April, when it peaked at +3.99 standard deviation. With no market overheating or risk of cascading liquidations, sharp price movements driven by leverage are unlikely. A move above +1.0 standard deviation on this indicator would be a sign of new leverage entering the market and a clue that a direction has been set.

Shareholders of Capital B, a European listed company that has been strategically acquiring Bitcoin, have approved two measures to fund further purchases, BitcoinTreasuries reported. The company is now authorized to raise up to $5.76 billion through a new share issuance and up to $115.2 billion via credit products. This combined capital would be sufficient to acquire over 1.87 million BTC at current market prices.

Jiang Zhuoer, founder of Chinese Bitcoin mining pool BTC.TOP, suggested that MicroStrategy's (Nasdaq: MSTR) statement about being able to pay 32 years of dividends with its Bitcoin holdings is a message signaling that investors should not be surprised if the company sells Bitcoin to cover future dividend payments. He noted that MicroStrategy holds $55 billion in Bitcoin and has annual dividend obligations of around $1.7 billion for its perpetual preferred stock (STRC). Zhuoer explained that MicroStrategy is not at risk of a leveraged liquidation and is unlikely to fail to pay its dividends. However, he warned that the company has been purchasing Bitcoin over the past two weeks by issuing additional common stock, a dilutive fundraising method that is not easily sustainable. He added that the mere possibility of MicroStrategy selling Bitcoin to fund dividends could place significant pressure on market sentiment.

Rodney Burton, known as 'Bitcoin Rodney,' has pleaded guilty to conspiracy charges related to the $1.8 billion HyperFund crypto investment scheme, BeInCrypto reported. According to prosecutors, HyperFund sold memberships to investors with promises of daily returns between 0.5% and 1%. However, an investigation revealed that the crypto mining operation cited as the source of these returns did not exist. Burton faces a maximum of five years in prison, with his sentencing scheduled for July 23.

The amount of Bitcoin held by addresses with at least one BTC has surpassed 16.8 million BTC, reaching an all-time high, according to on-chain analyst Darkfost. In a post on X, the analyst noted that this investor group has continued to accumulate BTC despite recent price declines, suggesting this could be a sign of Bitcoin's ongoing institutionalization. Darkfost added that on-chain data also shows holdings by retail investor groups are increasing again, indicating that both institutional and retail investors seem to view the current market as a suitable period for accumulation.

An anonymous whale has deposited 43,235 ETH to Binance and would realize a loss of $11.37 million if the assets are sold at current prices, Spot On Chain reported. The on-chain analytics firm added that sell-offs of this magnitude have historically tended to coincide with short-term market bottoms.

Binance has announced it will temporarily suspend deposits and withdrawals for tokens on the Base network to support an upcoming network upgrade and hard fork. The suspension will begin at 5:00 p.m. UTC on June 25, with the network upgrade scheduled to start an hour later at 6:00 p.m. UTC.

Global cryptocurrency exchange MEXC announced in its monthly highlights report that its platform recorded $641 billion in trading volume for May. The exchange listed 110 new spot and futures cryptocurrencies during the month, which generated a cumulative trading volume of $1.18 billion. Additionally, MEXC began supporting trades for over 7,000 U.S. stocks and ranked first across all liquidity metrics for its Silver (XAG) futures product, according to TokenInsight. On the user support front, the platform handled 70,966 inquiries with an average response time of 61.29 seconds. A Proof of Reserves audit by Hacken confirmed that major assets were overcollateralized, with reserve ratios of 293% for BTC, 123% for ETH, 117% for USDT, and 120% for USDC. The exchange's Guardian Fund for user protection was also maintained at $101 million. MEXC stated it will continue to publish its reserve data and operational status on a monthly basis.

Haedal Protocol (HAEDAL) announced on X that it has resumed its vault operations. The project stated that all vaults are now operating normally. The recently affected vaults have been decommissioned and replaced with new ones, including SUI-USDC, ETH-USDC, DEEP-SUI, WAL-SUI, CETUS-SUI, and LBTC-SUI. According to the announcement, these new vaults have been fully replenished based on user balances before the incident, and the upgrade and recovery processes have been externally audited. This follows the project's temporary suspension of related contracts earlier this month after detecting an abnormal decrease in liquidity in some vault pools.

The holder of the largest ETH short position on Hyperliquid (HYPE), an address identified as pension-usdt.eth, has closed out $20.47 million (11,700 ETH) of the position over two days to realize profits, Hyperinsight reported. The address had previously opened a 3x short position on 60,000 ETH, worth $107 million, at an average entry price of $1,810. The remaining position currently holds an unrealized profit of $3.18 million.

BTC is showing weakness relative to gold following the U.S. Federal Reserve's decision to hold interest rates, signaling a shift toward risk-off sentiment, according to on-chain analyst Axel Adler Jr. In a blog post, he explained that while the Fed maintained its key rate at 3.50-3.75% for the fourth consecutive time, the dot plot leaned hawkish, which has dampened appetite for risk assets. Adler noted that nine committee members anticipate at least one more rate hike this year, with six expecting two or more. He added that for the bearish trend to shift to neutral, BTC must secure a position in the $64,000 to $65,000 range, supported by significant trading volume. Meanwhile, gold has reclaimed the $4,300 level, indicating that the market currently favors safe-haven assets, he said.

South Korean crypto exchange Coinone announced it is extending the delisting watchlist designation for THORChain (RUNE) by one month.

South Korean crypto exchange Upbit announced that it has placed Aergo (AERGO) and Alpha Quark (AQT) on its delisting watchlist.

The bond market is signaling the U.S. Federal Reserve's hawkish stance, creating a negative environment for risk assets like Bitcoin (BTC), according to an analysis by CoinDesk. The outlet noted that the spread between U.S. 10-year and 2-year Treasury yields has fallen to 28 basis points (0.28 percentage points), its lowest level since April 2025. This signifies a deepening of the yield curve flattening phenomenon. While the market had priced in potential rate cuts at the start of the year, causing the yield curve to steepen, the trend has recently reversed. Consequently, even with the Fed holding its benchmark rate steady, future rate expectations have increased, potentially making it difficult for the Bitcoin bull market to resume. The analysis suggests this trend is consistent with the four-year Bitcoin halving cycle theory, indicating that a market bottom could form around October of this year.

Bybit has responded to its recent addition to the Monetary Authority of Singapore (MAS) investor alert list, stating that it is communicating with the MAS to understand the basis for the action. In a statement on X, Bybit clarified that it has been blocking access for users in Singapore through its terms of service and IP address restrictions, and does not offer services to them.

On-chain analyst Maartunn has warned of a structural risk should MicroStrategy (MSTR) begin selling its Bitcoin (BTC) holdings, despite noting the company could cover dividend payments for approximately 32 years with its current assets. Writing on X, the analyst explained that if MicroStrategy were forced to sell BTC to fund its dividends, it could trigger significant selling pressure in the market. This, in turn, would lead to a drop in the price of BTC, reducing the value of MicroStrategy's own holdings and further diminishing its capacity to pay dividends. Maartunn cautioned that this scenario could create a "vicious cycle" of downward pressure and declining asset value.

Binance announced that it has designated four assets—ACT, BLUR, PIVX, and QKC—with its Monitoring Tag.

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: 44.45% long, 55.55% short - Binance: 49.19% long, 50.81% short - OKX: 49.08% long, 50.92% short - Bybit: 49.27% long, 50.73% short

An anonymous whale address starting with 0x55C1 has deposited 43,235 ETH ($74.68 million) to Binance, according to Onchain Lens. Deposits to exchanges are typically interpreted as a move to sell. The address currently holds 43,562 ETH in staking, with an estimated unrealized loss of $12.7 million.

U.S. Representative Dusty Johnson of South Dakota has stated that the House is prepared to quickly pass the CLARITY Act if the Senate acts on the bill before its August recess, according to Eleanor Terrett, host of Crypto in America.

Bitcoin has entered a prime buying opportunity zone as it finds support near its 200-week simple moving average (SMA), a key indicator of its long-term uptrend, Kraken said in an analysis reported by CoinDesk. The exchange noted that while BTC briefly fell below its 200-week SMA twice over the past two weeks, it rebounded above the line by the weekend. Kraken explained that a weekly close below the 200-week SMA is a rare event, occurring on only about 10% of all trading days in 2017. Historically, investors who purchased BTC in this zone saw a median return of over 113% after one year and more than 313% after two years.

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

According to Etherscan data, 1,158 ETH, worth approximately $2.02 million, was transferred from the private rollup bridge address of Aztec Labs, an Ethereum privacy-enhancing Layer 2 project, to an external address starting with 0x6952. In connection with the transfer, Robert Chen, founder of Solana auditing firm OtterSec, said that Aztec has been hacked again.

Amazon Web Services (AWS) announced it has added a feature to its Web Application Firewall (WAF) allowing content owners and publishers to charge AI bots and agents in USDC for access. When a bot attempts to access protected content, the WAF requires a payment, displaying the price, payment networks like Base and Solana, and the recipient wallet address. The bot can then read this price tag, automatically execute the payment without human intervention, and retrieve the content. This automated transaction process uses the open-standard x402 protocol. AWS stated it is not involved in payment processing or fee collection, as funds are sent directly to the designated wallet. The feature is only available in environments connected to Amazon's Content Delivery Network (CDN), CloudFront.