Bitcoin traders rush to buy short-term put options targeting $52,000, driven by hawkish Fed, ETF outflows, and Strategy's STRC plunge. Deribit data shows heavy flows across June 22 to July 31 expiries. BTC trades near $62,400.
CFTC Chair Mike Selig said insider trading concerns in prediction markets are overstated, pointing to updated enforcement tools and legal actions, while lawyers say proving misuse of nonpublic information remains difficult.
SOL trades at $85.39 after a 3.50% daily drop. Even with wXRP launching on Solana and more than $100 million in initial liquidity, technical signals remain weak, with traders watching the $82 to $88 range.
Bitcoin stayed above $81,000 with market cap over $1.62 trillion, while XRP and SOL led major altcoins higher. Mid-cap tokens posted sharper gains as trading activity picked up across the crypto market.
Japan PM Takaichi reportedly urged BOJ Governor Ueda against further rate hikes, sending the yen lower. Market expectations for a March rate hike fade, easing liquidation risks for crypto assets tied to yen carry trades.
US spot Ethereum ETFs recorded $712.55 million in net outflows over three weeks, while ETH/USDT fell to $2,020 in May. Even with market pressure rising, developers continue to view Ethereum as core global blockchain infrastructure.
Bitwise CIO Matt Hougan projects Circle could be worth $75 billion by 2030, driven by stablecoin adoption and regulatory momentum.
Hyundai Card ran a live pilot moving $20,000 between Hyundai Motor subsidiaries through Avalanche, completing the transfer and conversion cycle in about seven minutes. The company said a Europe-focused follow-up pilot is scheduled later this month.
