high

Cryptoquant indicates that its 365-day PnL index signal continues to decline, showing that the current BTC cycle may not have reached its peak yet. BTC is currently trading at approximately $62,656, down about 50% from its historical high of around $126,000 in October 2025.Cryptoquant's bull-bear cycle indicator turned green on May 12, 2026, marking the first bullish signal since March 2023. Cryptoquant stated that this indicator had shown false positives in 2022, and the green signal itself does not guarantee a sustained upward trend. A major whale bought BTC worth $98,900,000 at the low of $59,734 on June 5 and made a profit of $3,500,000 within two days after the market rebound. BTC has since maintained above $60,000, trading at approximately $62,550 at the time of writing.

According to Jinshi reports, a survey of fund managers by Bank of America shows that fund managers have raised the allocation ratio of U.S. stocks to the highest overweight level since December 2024.

According to Jinshi reports, Federal Reserve Governor Waller stated that if core inflation shows high data again this week, the Federal Reserve will need to consider raising interest rates in the near term.

CryptoQuant analyst maartunn stated that Binance's monthly futures trading volume has surpassed $1.6 trillion, setting a new high for the year. Bitcoin is currently hovering around $60,000, and market sentiment remains cautious, with many traders still describing the market as bearish.Europe is still adapting to the MiCA regulatory framework, and the summer holiday typically leads to a slowdown in trading activity. Nevertheless, Binance's derivatives trading continues to maintain strong momentum. The surge in trading volume indicates that, despite various factors, traders are still actively participating in Binance's futures market.

The open interest (OI) of real-world assets (RWA) on the Hyperliquid platform has reached a historic high of $3.6 billion.The total open interest on the platform has also refreshed its 2026 high, rising to $11 billion.

According to Gate market data, the Hong Kong stock market is showing overall fluctuations and differentiation, with some high-elasticity stocks rising against the trend. The top three gainers on the Gate platform for Hong Kong stocks are: Weili Zhibo-B, which surged 29.90%, currently reported at HK$64.85; Guanglian Technology Holdings, which rose 21.70%, currently reported at HK$4.99; and China Huajun, which increased by 20.66%, currently reported at HK$1.46.

According to Jinshi reports, the yield on the U.S. two-year Treasury bond reached a 17-month high of 4.2393%, and federal funds rate futures indicate that the market expects a rate hike of 39 basis points by December.

According to a post by Galaxy Research research director Alex Thorn (@intangiblecoins), indicators related to long-term Bitcoin holders have set new historical records:The supply ratio of coins held for ≥ 10 years has reached 17.7%, the amount held by long-term holders is 16.75 million coins, the market value realized by long-term holders has reached 836.4 billion USD, and the average holding cost for long-term holders is 50,000 USD. The above data indicates that a large number of coins are firmly locked by long-term holders, who refuse to sell even though the average price has reached 50,000 USD. The actual circulating supply in the market continues to tighten, and the behavior of long-term holders is building a solid bottom support for Bitcoin prices.

According to DeFiLlama data, Polymarket's revenue reached $11.46 million in the week from July 6 to 12, setting a new high since 2026. Currently, its total value locked (TVL) is approximately $374 million, with an annualized revenue of about $188 million and a trading volume of approximately $4.936 billion in the last 30 days.

According to CryptoQuant analyst JA Maartun, Binance's June futures trading volume rose to approximately $1.63 trillion, reaching the highest level since 2026.The analyst pointed out that although BTC is still fluctuating in the mid-$60,000 range, market sentiment remains cautious, and the advancement of European MiCA regulations along with typically slower summer trading activity, Binance's futures market trading volume remains high, indicating that traders' participation in derivatives is still active.

According to The Defiant, the financial and operational update released by Sky Frontier Foundation for June 2026 shows that its annualized total revenue run rate has reached a new record of $419.08 million. It is reported that the annualized total revenue run rate is an estimated metric that converts short-term revenue data (usually monthly or quarterly) into annual revenue, used to quickly assess the current revenue scale and development trend of the business.Data from DefiLlama shows that Sky has generated $30.14 million in fee revenue over the past 30 days, with an annualized revenue of approximately $367 million. This data accounts for the total fees paid by users, rather than the "total revenue" concept adopted by Sky, which is generally consistent with the data released by Sky.

Bitwise released the Q3 2026 cryptocurrency market review, stating that in the second quarter, the Bitwise 10 Large Cap Crypto Index fell by 15.4%, with 8 out of 10 constituent assets declining. The spot Bitcoin ETF recorded the worst quarterly outflow on record, while on-chain activity, trading volume, and DeFi assets all decreased, and the correlation between the cryptocurrency market and stocks increased.During the same period, the prediction market trading volume reached a new high of $43.2 billion, nearly 18 times year-on-year; the tokenized real-world assets grew by 50.3% this year to $32.89 billion; the Bitwise Crypto Innovators 30 Index rose by 30.6%; the settlement scale of stablecoins was 2.3 times that of Visa, holding more U.S. Treasury bonds than most countries; Hyperliquid, PancakeSwap, and Aave each generated approximately $900 million in revenue over the past year.Bitwise noted that it has recorded negative returns for three consecutive quarters, the longest since 2022, but compared to the bottom of the 2022 bear market, Ethereum trading activity has increased by about 13 times, the value locked in DeFi has grown by over 60%, and the assets under management in stablecoins have roughly doubled.

According to Gate market data, U.S. stocks closed on Thursday with the Dow Jones Industrial Average initially rising by 0.26%, the S&P 500 index up by 0.8%, and the Nasdaq Composite index up by 1.3%. Micron Technology rose by 4.5%, SanDisk rose by 7.5%, and Western Digital rose by 5%. Meta Platforms rose by 4.7%. The Nasdaq China Golden Dragon Index rose by 0.56%, iQIYI rose by 8.5%, and Alibaba rose by 2%.

According to Jinshi reports, the US stock market rose as investors set aside concerns over the latest US-Iran conflict and rushed to buy technology stocks. Despite the escalating conflict in the Middle East, investors are still focused on the artificial intelligence investment boom.Goldman Sachs' report pointed out that clients have no substantial concerns about the prospects of artificial intelligence trading, and the recent market adjustments are mainly technical in nature. BlackRock economist Helen Zhuviel stated that although technology companies are facing negative free cash flow, the commitment to artificial intelligence investments will continue to support this theme for at least two to three years.

According to The Block, a report from Immunefi shows that in the first half of 2026, cryptocurrency projects suffered cumulative losses of approximately $972 million due to 207 hacking incidents. Although the number of attacks reached a historic high, the total losses remained below $1 billion and were less than half of the losses in the first half of 2025.The report pointed out that losses from attacks in the DeFi sector have decreased by 74% from the peak of $2.62 billion in 2022, dropping to about $680.3 million, with the median single loss decreasing by 75% during the same period. Immunefi believes that this decline is related to ongoing security coverage, bug bounty programs, audit competitions, and more researchers discovering vulnerabilities early.In addition, the sources of risk are shifting from purely smart contract vulnerabilities to infrastructure failures, private key leaks, cross-chain configuration errors, and weak points in privileged access.

Gate recently released a detailed verification statement regarding the security item changes and fund loss incident reported by customer 9****6. After an internal review, the platform confirmed that the applicant submitted materials highly matching the customer's account, including Email, phone number, real-name information, transaction records, and Alipay screen recordings. The platform pointed out that the Alipay screen recording required access to the customer's Alipay account and successfully passed multiple identity verifications, indicating that the applicant not only possessed account information but also obtained the customer's external real-name information, Alipay account, and device permissions in advance.The platform emphasized that its security unbinding review implements a four-fold verification process of "multi-channel advance notification + system risk control preliminary screening + manual multi-layer review + time protection." After notifying the customer through dual channels, the application was processed only after waiting two days without objections, and a 24-hour withdrawal prohibition protection was imposed after modification. Upon investigation, there were no information leakage logs within the platform, and some sensitive identity information provided by the applicant was external information previously unknown to the platform.Regarding fund recovery, the platform has sorted out the flow of funds and collaborated with multiple departments to conduct on-chain analysis and asset tracking, currently coordinating with third parties like Tether to advance the freezing process, and will cooperate with judicial investigations in the future. The platform advises customers to conduct comprehensive security reinforcement on their devices and expresses regret that the customer did not contact the platform within the three-day notification period.

According to a report by 10x Research, the stock prices of recently listed cryptocurrency-related companies have generally fallen sharply from their post-listing highs. Among them, Gemini (GEMI) has dropped by 91%, Amber (AMBR) has decreased by 89%, BitGo (BTGO) has fallen by 79%, Circle (CRCL) has declined by 78%, Coinbase (COIN) has decreased by 63%, and Securitize (SECZ) has also dropped by 41%.Data shows that these 8 recently listed cryptocurrency companies have, on average, fallen 73% from their post-listing highs. The report points out that the sharp decline in stock prices after listing has become a common phenomenon for cryptocurrency company IPOs, and investors need to adopt a more systematic strategy to cope with such volatility.

According to BBX data, yesterday marked a milestone for the global largest IPO completion index, with a historic turning point in the valuation logic of AI transformation in mining companies. The core dynamics are as follows:SpaceX, Inc. (NASDAQ: $SPCX) reported on July 7 that the company was officially included in the Nasdaq 100 index this week, becoming the first in history to have the largest single IPO ($75 billion) included in the Nasdaq 100. CoinDesk also issued a historic warning: "The last two largest new constituents added—Palantir ($PLTR) in December 2024 and Strategy ($MSTR) in early 2025—both experienced a phase decline after inclusion, rather than starting a new round of increases"; analysts pointed out that passive funds tracking the Nasdaq 100 complete "forced buying" at the time of inclusion, and if there are no new fundamental catalysts afterward, stock prices often pull back after technical buying subsides. Specific risks currently facing SpaceX include: a net loss of approximately $4.27 billion in Q1 2026 (mainly due to xAI integration expenses), a $2 billion bond issuance plan, and a 3.4% equity dilution from the $60 billion acquisition of Cursor/Anysphere; Morningstar maintains a fair value estimate of $62 per share, indicating about a 70% implied downside from the current market price. For the market holding SpaceX Bitcoin (18,712 coins, approximately $1.2 billion, held in Coinbase Prime), the inclusion in the Nasdaq 100 will trigger a larger scale of SPCX holdings by passive funds, further bridging the gap between traditional index investors and indirect exposure to Bitcoin assets.TeraWulf Inc. (NASDAQ: $WULF) according to the latest analysis, the company's high-performance computing (HPC) leasing revenue in Q1 2026 reached $21 million, accounting for about 62% of the total revenue of $34 million, surpassing Bitcoin mining revenue for the first time—this marks TeraWulf's first historic revenue structure reversal after transitioning to an AI/HPC infrastructure company, with a 117% increase from the $9.7 million HPC revenue in Q4 2025. The company has currently signed over 522 megawatts of AI/HPC leases with Core42 and Fluidstack, with an expected annual high-margin revenue of approximately $630 million; the energy structure consists of nuclear power + hydropower, with an average electricity cost of about $0.035 per kilowatt-hour, one of the lowest among similar mining companies. The company is also developing a new campus in Kentucky, adding approximately 480 megawatts of grid access capacity; analysts have significantly raised their target price ranges, with Keefe Bruyette & Woods raising from $23 to $37, Clear Street from $26 to $38, Jefferies initiating coverage with a Buy rating and a target price of $37, and BTIG raising at the same time. The company's stock price has increased by approximately 88% year-to-date in 2026, leading the gains in the mining sector.