CoinEx chief analyst Jeff Ko expects bitcoin to remain confined to a narrow trading range near $65,000 as markets digest falling oil prices, a 10-year Treasury yield close to 4.7%, and upcoming earnings reports from major technology companies.
Bitmine Immersion, the crypto investment firm led by Tom Lee, increased its ether holdings by 9,946 ETH last week, lifting its total ETH treasury to 5,787,414 tokens.
The company also stepped up its stock buyback efforts, repurchasing 6.1 million common shares compared with 5.5 million shares in the previous week.
Tom Lee said the increased buyback activity reflects the company’s belief that the rising ETH/BTC ratio, even with reduced expectations for the Clarity Act’s approval in 2026, signals improving strength in the cryptocurrency market.
BMNR shares gained 4.9% in pre-market trading as ether rose approximately 3% over the previous 24 hours.
Bitcoin treasury firm Strive announced the acquisition of 79 BTC last week, bringing its total bitcoin reserves to 20,000 coins.
The company also expanded its Strategy STRC preferred stock holdings by purchasing 808 additional shares, increasing its total position to 43,879 shares.
A Monday SEC filing indicated that Strive financed the purchases through a combination of existing cash and proceeds from common stock sales.
Strategy added another $525 million to its USD Reserve last week, increasing the balance to $3.75 billion. Executive Chairman Michael Saylor said the reserve now covers roughly 2.1 years of preferred stock dividend obligations.
The company generated $544.5 million through the sale of more than 5.4 million common shares, according to a regulatory filing.
Strategy allocated $25 million of those proceeds toward buying back 288,930 shares of its STRC preferred stock.
The company did not alter its bitcoin holdings, which remain at 843,755 BTC.
MSTR shares climbed 2.8% in pre-market trading following a slight weekend increase in bitcoin prices, while STRC advanced 2.45%.
Chinese memory chip manufacturer CXMT surged after its initial public offering, with shares jumping nearly 466% and pushing its valuation to around $484 billion.
The company, considered China’s rival to Micron, SK Hynix, and Samsung in the memory sector, became the country’s most valuable listed company, overtaking Industrial and Commercial Bank of China.
Apple could potentially become a customer of CXMT, as the company has reportedly sought approval from the Trump administration to use CXMT chips in products sold outside the U.S.
Oil prices fell sharply after signs emerged that tensions between the United States and Iran were easing.
U.S. Ambassador to the United Nations Mike Waltz said President Trump was allowing diplomatic efforts “some space,” helping ease concerns over further conflict.
WTI crude dropped nearly 7% to $83.14 per barrel, while Brent crude posted a similar decline.
The decline in energy prices improved investor sentiment, pushing U.S. stock futures higher. Nasdaq 100 futures led gains with a 1.35% rise, while interest rates moved slightly lower.
Bitcoin gained 1.1% to $65,150, while ether and solana outperformed with increases of around 2% to 3%.
More than $1 million in stablecoins were lost in separate security incidents involving WEMIX and Garden Finance.
WEMIX and DeFi platform Garden Finance paused services after separate attacks impacted at least $1.17 million in stablecoins, although Garden said its own protocol and user funds were unaffected.
WEMIX reported that an attacker exploited control of a related contract and issued about 5.23 million unauthorized tokens. The assets were later exchanged for 30,736 WEMIX and roughly $724,200 in USDC.e before being transferred across Ethereum and BNB Chain.
Security company Blockaid reported that approximately $450,000 in USDT was drained from Garden Finance’s hash time-locked contracts across Ethereum, Base, Arbitrum, and BNB Chain.
Garden Finance said its smart contracts were not compromised and attributed the incident to a breach involving an independent solver’s off-chain database, stating that no customer funds were affected.
SpaceX shares have declined to a level where investors may be assigning minimal value to the company’s artificial intelligence operations, according to Morgan Stanley analyst Adam Jonas.
The stock launched at $135 in June, surged to $225 during its first week, and later fell toward $115 after touching $110.85.
Jonas said a further decline toward $100 after the expected insider lockup expiration could imply that the market is placing little or no value on SpaceX’s AI business.
The analyst maintained a $300 price target and encouraged investors to buy, arguing that the selloff reflects weak sentiment rather than a deterioration in fundamentals.
Around 80% of analysts covering SpaceX rate the stock as a buy, with an average target price of $232. Arkham data shows the company also holds approximately $1.2 billion worth of bitcoin.
The ether-to-bitcoin ratio climbed to 0.03, reaching its highest level since late April, according to TradingView data.
ETH has moved above its 200-day simple moving average against bitcoin for the first time since January and has gained more than 20% since the market decline eased on June 6.
Continued ether strength compared with bitcoin could indicate the early stages of an altcoin rally. However, bitcoin remains the leading cryptocurrency, accounting for roughly 59% of the total crypto market.
China continued expanding its gold purchases despite other major economies moving toward greater integration of crypto and blockchain technology into financial systems.
The country imported approximately 173 tonnes of gold in June, marking the third consecutive month of higher purchases and the strongest monthly total since March 2024.
Demand came from both institutional buyers and retail investors, with individuals continuing to accumulate gold through bank-supported savings programs.
China maintains strict restrictions on cryptocurrency trading, mining, and stablecoins as part of efforts to limit capital outflows and financial risks.
Jeff Ko of CoinEx said bitcoin is likely to remain range-bound as several macro factors continue to stabilize the market.
He highlighted lower oil prices following another pause in U.S.-Iran tensions, the 10-year Treasury yield near 4.7%, and the Federal Reserve’s ability to remain flexible ahead of upcoming PCE inflation and second-quarter GDP data.
Ko said this week’s earnings reports from Apple, Microsoft, Meta, and Amazon could also influence market direction.
He noted that corporate cash flow projections and AI investment plans could affect Treasury yields, Nasdaq performance, and liquidity conditions that influence crypto markets.
Ko added that the details behind ETF flows may be just as important as overall inflow and outflow figures.
