Recap
- Crypto assets showed signs of a rebound after sliding on Sunday when US military strikes on Iran roiled financial markets. The attacks on Iranian nuclear facilities late Saturday night prompted a temporary 4% decline in Bitcoin below $100,000 and triggered more than $670 million in crypto liquidations the following day.
- Ongoing Israel/Iran tensions mean significant uncertainty in the market, with the focus on how Iran might retaliate and whether it will choke global energy markets by shutting the Strait of Hormuz
- The Fed maintained rates at 4.25%–4.5% during its 18 June meeting, aligning with the 98.7% market expectation of no change.
- The U.S. Senate passed the GENIUS Act. The bill now moves to the House of Representatives; it will marking the first federal regulatory framework for stablecoins if it completes passage through both houses.
Top Gainers of Last Week
- KAIA (+20.20%)
- SEI (+11.46%)
Top Losers of Last Week
- SPX (-37.85%)
- AB (-34.43%)
- FART (-29.14%)
Market Metrics
- Total Market Cap: $3.12T (-5.85%)
- Bitcoin Dominance: 64.9% (vs 63.8% last week)
- Fear and Greed: 37/100 (vs 51 last week)
- Alt Season: 14/100 (vs 25 last week)
This week, we'll be monitoring (all times UTC):
Tuesday 24 June
- Crypto: Permissionless IV takes place in NY 24-26 June, focusing on crypto innovation with 100+ speakers, workshops, and a $100K hackathon for developers and industry leaders.
Economic Data
- 14:00 Fed Chair Powell Testimony: The updated Dot Plot and Fed Chair Jerome Powell’s press conference will provide insights into future monetary policy, impacting global markets.
Thursday 26 June
Economic Data
- 12:30 GDP Growth Rate QoQ Final: Final US GDP data for Q2 2025 will validate or challenge economic growth narratives, influencing risk assets.
Friday 27 June
Economic Data
- 12:30 CORE PCE Price Index MoM: The Fed’s preferred inflation gauge, expected around 0.1% MoM, could shape expectations for future rate decisions.
