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Altcoins, memecoins join crypto market rally as BTC reclaims $105k
Crypto Trends

Altcoins, memecoins join crypto market rally as BTC reclaims $105k

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The ongoing Bitcoin-led recovery is rippling through the broader crypto market, with improved investor sentiment driving gains across the altcoin and memecoin sectors.

Bitcoin (BTC) has been on an upward trend over the past 24 hours, posting an approximate 4% gain that saw the crypto giant reclaim the $105,000 mark.

As is typical in Bitcoin-led market cycles, altcoins have followed suit, capitalizing on the momentum. Ethereum (ETH), the second-largest crypto asset, outperformed Bitcoin with an 8% gain, roughly double BTC’s, now trading at $2,411 at press time.

Among the standout performers, Sei (SEI) led the market with a massive 43% gain in the past 24 hours, emerging as one of the day’s largest gainers by a wide margin. Other tokens like SUI (SUI) and Chainlink (LINK) also stood out, posting gains of up to 15% and 10% respectively in the last 24 hours. 

Solana (SOL) and Avalanche (AVAX) followed suit, joining the rally with similar gains of 7.8% and 7.6% to sit at respective trading prices of $144 and $18 at press time. 

XRP (XRP) and Cardano (ADA) were not left behind, each posting slightly higher gains above 8% and trading at $2.18 and $0.583. 

Meanwhile, memecoins stole the spotlight with even bigger moves. Dogwifhat (WIF) jumped 25% as the strongest gainer among the coins, Popcat (POPCAT) climbed 15%, and Pepe (PEPE) rose 14%. Others including Floki (FLOKI) and Bonk (BONK) also notched double-digit gains of around 13%, placing them among the day’s top gainers.

OG memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) joined the rally as well, logging more modest but steady gains in the 8% to 10% range.



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Crypto Trends

Risk of Escalating Israel-Iran Conflict Keeps Bitcoin Around 105K Says QCP

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Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

As Asia opens the trading week,

is changing hands at around $ 105,000, stuck in this range due to market uncertainty about whether the Israel-Iran conflict will escalate into a broader regional war, according to a recent note from trading firm QCP.

QCP wrote in a Friday note published on Telegram that risk reversals have “flipped decisively,” with front-end BTC puts now commanding premiums of up to 5 volatility points over equivalent calls, a clear indicator of heightened investor anxiety and increased hedging against downside risks.

The firm said that despite this defensive shift in positioning, BTC has demonstrated notable resilience. Even amid recent volatility, which saw over $1 billion in long positions liquidated across major crypto assets, on-chain data shows that institutional buying continues to provide meaningful support.

QCP emphasizes that markets remain “stuck in a bind,” awaiting clarity on geopolitical outcomes, and warns that the digital asset complex will likely remain tightly linked to headline-driven sentiment shifts for the foreseeable future.

With all that in mind, however, Glassnode data provides some reassurance to investors concerned about longer-term directionality.

Although recent volatility underscores short-term anxiety, bitcoin’s current cycle gain of 656%, while lower than previous bull markets, is notably impressive given its significantly larger market capitalization today.

Previous cycles returned 1076% (2015–2018) and 1007% (2018–2022), suggesting investor demand is still pacing closely with BTC’s maturation, even as near-term macro jitters dominate market sentiment.

Galaxy Research Says OP_Return Debate Wasn’t That Important

The OP_Return debate was less important than what a “loud but small group of critics” wanted everyone to think, Galaxy Research’s Alex Thorn wrote in a recent note.

Thorn described critics’ reactions as “wild accusations of the ‘death of Bitcoin'” and argued that such hyperbole was misplaced given historically low mempool congestion.

On-chain data shows that the mempool is virtually empty compared to a year ago, and the notion that a congested blockchain is suffocating BTC, as was the prevailing narrative in 2023, now appears significantly overstated.

In the note, Thorn further highlighted the irony of labeling arbitrary data as “spam,” reminding observers that Bitcoin’s creator, Satoshi Nakamoto, famously included arbitrary text, the “chancellor on brink of second bailout” headline, in the Bitcoin’s blockchain’s very first block.

Instead, Thorn argued, Bitcoin’s community attention would be better focused on potential upgrades like CheckTemplateVerify (CTV), a proposed opcode enabling strict spending conditions (“covenants”).

“We continue to believe [CTV] is a conservative but powerful opcode that would greatly enhance the ability to build better, safer methods of custody,” he wrote, noting that around 20% of Bitcoin’s hashrate already signaled support for the upgrade.

Bitcoin upgrades require extensive consensus-building, reflecting its open-source ethos, and Thorn emphasized that cautious, deliberate evolution remains critical for broader adoption and scalability.

ByBit Launches Byreal, a Solana-Native Decentralized Exchange

Bybit is entering the decentralized exchange space with Byreal, an on-chain trading platform built on Solana, Ben Zhou, Bybit’s CEO announced via X over the weekend.

Announcing Byreal — our first onchain DEX incubated by Bybit, will be LIVE by end of the month. Starting from scratch and now born on Solana. what’s special: 1/ CEX + DEX synergy Byreal isn’t “just another DEX.” It’s combining CEX-grade liquidity with DeFi-native transparency.… https://t.co/JU60e4zHQ4

— Ben Zhou (@benbybit) June 15, 2025

Byreal’s testnet is scheduled to launch on June 30, with the mainnet rollout expected later this year. Zhou said that Byreal is designed to combine centralized exchange features such as high liquidity and fast execution with the transparency and composability of DeFi. The platform will also include a fair launchpad system and curated yield vaults linked to Solana-native assets like bbSOL.

Market Movements:

  • BTC: Bitcoin held near $105,000 after more than $1 billion in leveraged positions were liquidated, led by a $200 million long on Binance, as rising Israel-Iran tensions triggered a sharp selloff, a flight from altcoins, and a brief but intense bout of volatility.
  • ETH: Ethereum rose 2% to around $2,550 after finding strong support at $2,510, showing resilience amid Israel-Iran tensions and broader market volatility, with continued institutional inflows supporting the uptrend.
  • Nikkei 225: Asia-Pacific markets rose Monday, led by Japan’s Nikkei 225 gaining 0.87 percent, as investors weighed escalating Israel-Iran tensions, while oil and gold prices surged on safe haven demand.
  • Gold: Gold climbed to $3,447 in early Asian trading Monday, hitting a one-month high as Middle East tensions and rising expectations of a September Fed rate cut outweighed strong U.S. consumer sentiment data.

Elsewhere in Crypto:





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Bitcoin Holding $105K During War Is Bullish for Crypto
Crypto Trends

Bitcoin Holding $105K During War Is Bullish for Crypto

by admin



Key points:

  • A week of solid inflows into the spot Bitcoin ETFs improves the prospects of a rally toward $110,000.

  • HYPE, BCH, AAVE, and OKB could march higher if Bitcoin sustains above $105,000.

Bitcoin (BTC) is forming a Doji candlestick pattern on the weekly chart, indicating indecision between buyers and sellers. Despite the near-term uncertainty, analysts remain bullish on Bitcoin’s prospects in 2025, expecting a rally from $140,000 to $270,000.

Another positive sign is that the geopolitical turmoil caused by the conflict between Israel and Iran did not create panic among investors. According to Farside Investors’ data, US-based spot Bitcoin exchange-traded funds witnessed $86.3 million in inflows on Thursday and $301.7 million on Friday, boosting the total weekly inflows to $1.37 billion.

Crypto market data daily view. Source: Coin360

Bitcoin’s consolidation just below the all-time high has not generated a sell signal in any of the 30 “bull market peak” indicators monitored by CoinGlass. In a post on X, popular trader Cas Abbe said the models project a target between $135,000 to $230,000 for Bitcoin this cycle.

Could Bitcoin rise toward $110,500, pulling select altcoins higher? If it does, let’s look at the cryptocurrencies that look strong on the charts.

Bitcoin price prediction

Bitcoin found support at the 50-day simple moving average ($103,604) on Friday, but the bulls are struggling to push the price above the 20-day exponential moving average ($106,028). That suggests a lack of buying at higher levels.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA and the relative strength index (RSI) near the midpoint do not give a clear advantage either to the bulls or the bears. If buyers drive the price above the 20-day EMA, the BTC/USDT pair could climb to the $110,530 to $111,980 zone. Sellers are expected to fiercely defend the overhead zone, but if the bulls prevail, the pair could skyrocket toward $130,000.

On the downside, a break below the 50-day SMA could challenge the critical psychological level of $100,000. If the level cracks, the pair may slide to $93,000.

BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView

Sellers are trying to stall the recovery at the 20-EMA on the 4-hour chart. If the price turns down sharply and breaks below $104,000, the short-term advantage tilts in favor of the bears. The pair may descend to $102,664 and then to $100,000. Buyers are expected to vigorously defend the $100,000 level.

The bulls will have to propel the price above the 50-SMA to seize control. The pair could then surge toward $110,530.

Hyperliquid price prediction

Buyers have been struggling to maintain Hyperliquid (HYPE) above $42.50, indicating that bears are active at higher levels.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($36.96) indicates that buyers have an edge, but the negative divergence on the RSI suggests that the bullish momentum is slowing down. A break and close above $44 will invalidate the negative divergence, opening the gates for a rally to $50.

Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it signals profit-booking by the bulls. That could start a deeper correction to $32.50 and subsequently to $30.50.

HYPE/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pullback is taking support at the 50-SMA on the 4-hour chart, suggesting that lower levels are attracting buyers. If the 20-EMA is scaled, the pair could climb to $42.78 and then to $44. The uptrend will resume on a break above $44.

Contrarily, a break and close below the 50-SMA suggests the bulls have given up. That could accelerate selling, pulling the pair to the uptrend line. This is a crucial near-term support to watch out for because a break below the uptrend line could sink the pair to $30.50.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) bounced off the 50-day SMA ($403) on Friday, but the bulls are facing stiff resistance at $462.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping moving averages and the RSI in the positive territory indicate the path of least resistance is to the upside. If buyers overcome the barrier at $462, the BCH/USDT pair could rally to $500.

The 50-day SMA is the vital support to watch out for on the downside. If the support cracks, the pair could sink to $375. Buyers will try to arrest the decline at $375. If they succeed, the pair may consolidate between $375 and $462 for a while.

BCH/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair has reached the $462 resistance, where the bears are expected to step in. If buyers do not allow the price to dip below $450, it improves the prospects of a break above $462. If that happens, the pair could surge toward $500.

Alternatively, if the $500 level gives way, the pair could drop to the moving averages. If the price rebounds off the moving averages, the bulls will again try to push the price above $462. The short-term trend will favor the bears on a break below the 50-SMA.

Related: Here’s what happened in crypto today

Aave price prediction

Aave (AAVE) soared above the $285 resistance on Tuesday, but the bulls could not sustain the higher levels.

AAVE/USDT daily chart. Source: Cointelegraph/TradingView

The price turned down sharply from $325 on Wednesday and has reached the 20-day EMA ($269). If the price rebounds off the 20-day EMA with force, the bulls will strive to push the AAVE/USDT pair above $325. If they manage to do that, the pair could soar toward $380.

On the contrary, a break below the 20-day EMA could pull the pair to the uptrend line. Buyers are expected to defend the uptrend line with vigor. If the price turns up from the uptrend line and breaks above the 20-day EMA, the bulls will again try to drive the pair to $325.

AAVE/USDT 4-hour chart. Source: Cointelegraph/TradingView

The 20-EMA is sloping down on the 4-hour chart, and the RSI has dipped into the negative zone, signaling that bears have the upper hand. There is support at $261, but if the level breaks down, the pair could slump to the uptrend line.

The first sign of strength will be a break and close above the 20-EMA. That opens the doors for a rise to $291 and thereafter to $309. Sellers are expected to vigorously defend the $309 to $325 zone.

OKB price prediction

OKB (OKB) has been trading inside a descending channel pattern for several days. Buyers tried to push the price above the channel on Wednesday, but the bears held their ground.

OKB/USDT daily chart. Source: Cointelegraph/TradingView

A minor advantage in favor of the bulls is that they have not allowed the price to fall to the $49 support. That signals buying on dips. If buyers push the price above the moving averages, the OKB/USDT pair could move up to the resistance line. Repeated retest of a resistance level tends to weaken it. If buyers pierce the resistance line, the pair could rally to $56 and then to $60.

This positive view will be invalidated in the near term if the price turns down and breaks below the $49 support. That suggests the pair may remain stuck inside the channel for a few more days.

OKB/USDT 4-hour chart. Source: Cointelegraph/TradingView

The bulls are trying to start a recovery, but the bears are defending the 20-EMA on the 4-hour chart. If the price turns down from the 20-EMA and breaks below $51, it suggests that bears are in control. The pair could then plummet toward $49.

On the other hand, a move above the moving averages suggests the bears are losing their grip. That increases the possibility of a rise to the resistance line, which is an important level to watch out for. A break above the resistance line signals a potential trend change.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.



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MAP Protocol, Useless Coin, LUNC lead the charge as Bitcoin hits $105k
Crypto Trends

MAP Protocol, Useless Coin, LUNC lead charge; BTC hits $105k

by admin



MAP Protocol (MAPO) was the best-performing cryptocurrency on Saturday as it jumped by 100%. It rose to a high of $0.010, its highest point since Feb. 2, and 153% above its lowest point this year.

This increase has pushed its market cap to over $53 million. 

MAP Protocol price led the charge

MAP chart | Source: TradingView

MAP Protocol is a layer-2 network for Bitcoin, allowing peer-to-peer cross-chain transactions. Its token surged as the total value locked in the network jumped. 

Its TVL jumped to $23.3 million on Saturday, the highest point since February. All dApps in the ecosystem, like HiveSwap, StaQ, and Butter Network, have all added substantial assets in their ecosystems.

The biggest risk for MAPS Protocol price is that it has become highly overbought, with the Relative Strength Index jumping to 93. This means that the token may have a big dive as investors book profits. 

Useless Coin price hits all-time high

USELESS token chart | Source: TradingView

The Useless Coin price surged to a record high of $0.078 on Friday, even as the crypto market crashed. The Solana meme coin has jumped by over 1,245% from its lowest point this year, giving it a market cap of over $70 million.

Useless Coin, unlike MAPS Protocol, has no utility, and its price is soaring mainly because of hype and FOMO among crypto investors. 

Technicals suggest that the USELESS token has more gains ahead. It formed a cup-and-handle pattern whose upper side was at $0.047 and the lower side was at $0.0051 or a 90% dip. Measuring the same distance from the cup’s upper side gives it a target of $0.090, a few points above the current level.

LUNC price rises as burn rate jumps

LUNC chart | Source: crypto.news

Terra Luna Classic (LUNC) token rose by over 10% on Saturday. This jump happened after the LUNC token burn rose by over 234 million in the last seven days, bringing the cumulative burn to 410 billion. 

Technicals suggest that the LUNC price has more gains in the coming weeks. It has remained in a tight range and formed a double-bottom pattern with a neckline at $0.00007253. 

LUNC has also moved in the accumulation phase of the Wyckoff Theory, pointing to an eventual comeback. A move above the neckline at $0.00007253 will point to more gains to the 50% retracement level at $0.0001135.

Meanwhile, Bitcoin rallied past $105,000 at last check on Saturday. See below.

Souce: CoinGecko



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NFT Gaming

BTC Clings to $105K as Traders Brace for Fallout From the Worsening Middle East Crisis

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Bitcoin hovered around $105,100 on June 14, down 0.22% over the past 24 hours as traders digested geopolitical tension. Price action remained relatively tight, with BTC moving within a $2,090 range from $104,220 to $106,135. The largest moves occurred overnight in Asia trading, where Bitcoin briefly dipped below $104,200 before rebounding on high volume.

Much of the recent volatility has been driven by developments in the Middle East. The Israel-Iran war, which some analysts fear could spread to other parts of the Middle East, combined with trade tensions between the U.S. and some of its key trading partners, has unsettled risk markets. More than $1.1 billion in crypto liquidations were recorded during the initial wave of conflict headlines, though bitcoin has shown resilience in the aftermath.

Traders appear to be leaning bullish in the medium term, as BTC continues to hold a pattern of higher lows despite intraday wobbles. Profit-taking near $106,000 capped upside momentum, but support near $105,000 continues to draw buyers on dips. Market participants are watching this range closely, particularly as safe-haven demand and risk sentiment remain intertwined.

While short-term headlines continue to drive volatility, the broader structure suggests BTC is consolidating rather than reversing. If support around $104,950 holds, Bitcoin may attempt another push above $106,200.

Technical Analysis Highlights

  • BTC traded in a $2,090 range from $104,182 to $106,272 over the past 24 hours.
  • A key bounce occurred at $104,182 with 15,342 BTC traded during the recovery.
  • Resistance formed near $106,200 amid consistent profit-taking.
  • A rising trendline of higher lows remains intact.
  • Psychological support at $105,000 is holding for now.
  • Recent price range: $104,875 to $105,202 in the last hour.
  • A sharp dip below $105K at 07:19 reversed quickly, with $105,200 acting as near-term resistance.
  • Final 15-minute candles showed minor exhaustion, but volume patterns suggest accumulation on dips.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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NFT sales drop to $129.8m, Avalanche sales surge 200%
Crypto Trends

NFT market makes modest comeback as Bitcoin hits $105k level

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The NFT market has posted a modest recovery, with sales volume rising by 1.95% to $106.2 million. This marks a stabilization after last week’s drop.

At press time, Bitcoin (BTC) price has surged to the $105,000 level. At the same time, Ethereum (ETH) has shown no significant movements in the last seven days. The global crypto market cap is now $3.28 trillion, up from last week’s $3.25 trillion.

According to data from CryptoSlam, market participation continues to grow, with NFT buyers increasing by 55.08% to 826,992. At the same time, NFT sellers rose by 18.12% to 257,017. However, NFT transactions have dropped by 24.94% to 1,651,758.

Ethereum NFT sales drop 15%

Ethereum maintains its leading position with $30.3 million in sales. However, it has fallen 15.57% from the previous week. Ethereum’s wash trading has also increased by 11.33% to $1.8 million.

Immutable (IMX) has surged to second place with $16.4 million in sales and posted a growth of 123.21%.

Bitcoin is in third place with $15.1 million, growing 17.81%. Mythos Chain is in fourth place with $14 million, up 3.26%. Polygon (POL) has dropped to fifth place with $13.9 million, down 7.72%.

Source: Blockchains by NFT Sales Volume (CryptoSlam)

Solana (SOL) rounds out the top six with $6.1 million and has fallen 13.31%. The buyer count has increased across all major blockchains and Polygon leads at 54.25% growth. Solana followed this at 34.99% and Bitcoin at 33%.

In collection rankings, Courtyard on Polygon maintains its top position with $12.5 million in sales. However, the collection has seen a massive seller decline, dropping 77.08%.

Guild of Guardians Heroes has climbed to second place with $10.6 million, more than doubling with 108.92% growth. DMarket holds third place with $8.9 million, up 6.11%. Guild of Guardians Avatars has entered fourth position with $5 million and has surged 129.32%.

Bitcoin’s BRC-20 NFTs complete the top five with $4.8 million. The collection has seen increases across transactions (10.07%), buyers (4.74%), and sellers (2.96%).

CryptoPunks has fallen to sixth place with $3.5 million in sales, dropping 22.23%. The collection experienced decreases in transactions (13.79%) and sellers (36.36%), while buyer numbers remained flat.

Notable high-value sales from this week include:

  • CryptoPunks #1831 sold for 150 ETH ($389,846)
  • CryptoPunks #9778 sold for 150 ETH ($377,958)
  • CryptoPunks #4868 sold for 76.5 ETH ($201,933)
  • CryptoPunks #5586 sold for 70.07 ETH ($185,292)
  • CryptoPunks #7516 sold for 60 ETH ($158,378)



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Crypto Trends

BTC Rally Paused at 105K as Analyst Says Market Looks ‘Overheated’

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Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin

is trading above $105K as Asia begins its business week. The world’s largest digital asset remained relatively stable over the weekend, with a 0.4% movement, and trading volume was compressed.

While overall market conditions remain bullish, a new report from CryptoQuant suggests that certain metrics indicate the BTC market is “overheating.”

The report shows bitcoin demand has climbed to 229,000 BTC over the past 30 days, approaching the December 2024 peak of 279,000 BTC. At the same time, whale-held balances have risen by 2.8 percent, a pace that often signals slowing accumulation.

These indicators suggest the current rally, which pushed prices to a record $112,000, may be nearing a short-term top.

The report highlights $120,000 as the next major resistance level, tied to the upper band of the Traders’ On-chain Realized Price, where unrealized profits would hit 40 percent, a threshold that has historically marked local tops.

While CryptoQuant’s “Bull Score Index” remains strong at 80, signaling continued bullish momentum, rising profit margins, and peaking demand growth suggest traders may face a period of consolidation before the next leg higher.

News Roundup:

James Wynn Gets Liquidated, But Says He’ll ‘Run it All Back’

James Wynn, a trader renowned for his aggressive, high-leverage bets on Hyperliquid, has been fully liquidated, leaving him with just $23 in his account after sustaining losses totaling more than $17 million, CoinDesk previously reported.

Wynn, who attracted significant attention with trades involving bitcoin, memecoins like PEPE, and even obscure tokens such as FARTCOIN, first faced steep declines from a massive $1.25 billion long position on BTC, resulting in a loss exceeding $37 million after prices dipped below $105,000 amid geopolitical turmoil.

Throughout the volatile month, Wynn rapidly cycled through trades, briefly netting an unrealized gain of $85 million before market swings wiped him out completely. An account associated with Wynn downplayed the dramatic liquidation, defiantly stating on X: “I’ll run it back, I always do. And I’ll enjoy doing it. I like playing the game. I took a large and calculated bet at making billions.”

Brazil’s Méliuz Shares Sink 8% After Announcing $78M Equity Raise to Buy Bitcoin

Brazilian fintech Méliuz plans to raise up to $78 million through a public equity offering, intending to allocate all proceeds to purchasing Bitcoin and positioning the cryptocurrency as a primary strategic asset in its treasury, CoinDesk previously reported.

However, Méliuz’s strategy hasn’t impressed the market yet, as shares dropped more than 8% following the announcement. The initial offering includes 17 million common shares, with the potential to expand up to 51 million, and investors will receive subscription warrants allowing future stock purchases at set prices.

Known for its cashback and financial services platform serving over 30 million users, Méliuz currently holds 320.2 BTC, having previously committed 10% of its cash reserves to Bitcoin in March. Trading for the subscription warrants is expected to commence on June 16, with share settlement and warrant issuance finalized by June 18.

NYC Comptroller Rejects Mayor Adams’ ‘BitBond’, Warns Deviating from Dollar Could Undermine City’s Credit Reputation

New York City’s Comptroller Brad Lander sharply criticized Mayor Eric Adams’ plan to issue municipal bonds backed by bitcoin, labeling the proposed “BitBond” as “legally dubious and fiscally irresponsible,” CoinDesk previously reported.

Lander rejected the idea just days after Adams introduced it at a bitcoin conference in Las Vegas, emphasizing that cryptocurrency’s instability makes it unsuitable to reliably fund critical city projects such as infrastructure and affordable housing.

Mayor Adams has actively promoted cryptocurrency initiatives since entering office, including converting his own paychecks into digital assets and establishing a digital asset advisory council.

However, Comptroller Lander highlighted serious practical concerns with the BitBond proposal, noting federal tax laws and city financial regulations would make the proposal unworkable, and warned that deviating from the dollar-based municipal borrowing system could undermine investor confidence and New York City’s credit reputation.

Market Movements:

  • BTC: Bitcoin showed resilience, staging a V-shaped recovery between $103,813.37 and $105,305.75 amid notable volume spikes.
  • ETH: Ethereum formed a bullish reversal pattern, rebounding from strong support at $2,472.84 to $2,527.53 amid high-volume buying momentum, according to CoinDesk’s Market Insight Bot.
  • Gold: Gold climbed 0.6% to $3,311.66, as traders weighed its recent retreat from record highs against ongoing investor and central bank appetite driven by uncertainty over US tariffs and broader economic risks.
  • Nikkei 225: Japan’s Nikkei 225 dropped 0.89% as Asia-Pacific markets traded mixed following Trump’s announcement of increased steel tariffs.
  • S&P 500 Futures: Stock futures dipped Sunday to start June after the S&P 500’s strongest month since November 2023, amid uncertainty over President Trump’s tariffs following recent contradictory court rulings.

Elsewhere in Crypto:



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Hyper Liquid Trader Loses $99M As Bitcoin Falls Below $105K
GameFi Guides

Hyper Liquid Trader Loses $99M as Bitcoin Falls Below $105K

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Crypto trader James Wynn suffered a massive loss of more than $99 million in just a week, when a 949 BTC long position was liquidated. When the price of Bitcoin fell below $105,000, Wynn’s leveraged bet started to fail quickly.

Wynn had a position worth nearly $178 million using only $3.5 million of his perp equity. He was 100% invested in Bitcoin, showing that he believed in Bitcoin rising. Yet, the market took a different route.

The data reveals that Wynn’s unrealized P&L fell sharply and the red line on the graph shows that there were losses every day from May 23 to May 30. After everything, his account revealed a weekly loss of $99,197,131.51, an unrealized loss of $4.39M and a return on equity of -98.84%.

Over the past 24 hours, Wynn lost another $12.8M as Bitcoin continued to fall. He started with $107,983, but the market brought his price down to $105,995, almost reaching the liquidation point at $104,607.

The recent liquidation of this loan has become a hot topic on crypto Twitter, as many discuss the risks of taking on too much debt in the crypto market. Higher leverage allows traders to gain more, but it can also be very harsh when prices go in the opposite direction.

Wynn’s huge loss could end up being remembered as one of the biggest weekly losses in crypto—showing that risk is always there in the world of leverage.

Also Read: James Wynn’s $1B Bitcoin Short Backfires with $27M Loss



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Krisztian Sandor
NFT Gaming

Bitcoin (BTC) Price Rebounds to $105K After Moody’s Downgrade; Crypto ETF Issuer Sees 35% Upside

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Cryptocurrencies regained footing on Monday after a rocky start to the trading session, mirroring a broader recovery in risk assets as traders digested Moody’s downgrade of U.S. government bonds.

Bitcoin

notched a strong rebound after slipping to as low as $102,000 early in the U.S. session, following its record weekly close at $106,600 overnight. The largest cryptocurrency by market cap climbed back to $105,000 in afternoon trading, up 0.4% over 24 hours. Ether rose 1.2%, reclaiming the $2,500 level.

DeFi lending platform Aave

outperformed most large-cap altcoins, while the majority of the broad-market CoinDesk 20 Index members still remained in the red despite advancing from their daily lows. Solana , Avalanche and Polkadot were down 2%-3%.

The bounce extended to U.S. stocks, too, with the S&P 500 and Nasdaq erasing their morning decline.

The early pullback in crypto and stocks came after Moody’s late Friday downgraded the U.S. credit rating from its AAA status. The move rattled bond markets, pushing 30-year Treasury yields above 5% and the 10-year note to over 4.5%.

Still, some analysts downplayed the downgrade’s long-term impact on asset prices.

“What does [the downgrade] mean for markets? Longer-term – really nothing,” said Ram Ahluwalia, CEO of wealth management firm Lumida Wealth. He added that in the short term there might be some selling pressure centered on U.S. Treasuries due to large institutional investors rebalancing, as some of them are mandated to hold assets only in AAA-rated securities.

“Moody’s is the last of the three major rating agencies to downgrade U.S. debt. This was the opposite of a surprise – it was a long time coming,” Callie Cox, chief market strategist at Ritholtz Wealth Management, said in an X post. “That’s why stock investors don’t seem to care.”

Bitcoin targets $138K this year

While BTC hovers just below its January record prices, digital asset ETF issuer 21Shares sees more upside for this year.

“Bitcoin is on the verge of a breakout,” research strategist Matt Mena wrote in a Monday report. He argued that BTC’s current rally is driven not by retail mania, but by a confluence of structural forces, including institutional inflows, a historic supply crunch and improving macro conditions that suggests a more durable and mature path to fresh all-time highs.

Spot Bitcoin ETFs have consistently absorbed more BTC than is mined daily, tightening supply while major institutions, corporations such as Strategy and newcomer Twenty One Capital accumulate and even states explore creating strategic reserves.

These factors combined could lift BTC to $138,500 this year, Mena forecasted, translating to a roughly 35% rally for the largest crypto.



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