😰 The US stock market wiped out over $1T in market capitalization in the past 24 hours

Key driving factors:
👉 The US continues increasing its military presence in the Middle East
👉 NATO has launched the “Arctic Sentry” operation to counter Russia and China
👉 Concerns about AI disrupting the tech sector, along with policy pressure from the Federal Reserve, are also weighing on US equities

The decline in the US stock market has created additional pressure on $BTC, pushing Bitcoin down to the $65K level.

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🗒️ Ethena’s white-label stablecoin has officially surpassed the $100 million mark in total circulating supply for the first time, currently reaching approximately $131 million, including jupUSD, USDm, and suiUSDe.

Notably, jupUSD nearly doubled overnight to $74 million, contributing the majority of this growth.

Going from $0 to $131 million in just around six weeks represents a remarkably impressive growth rate 👍📈

🔥 $BTC is showing signs of a supply squeeze.

According to data from Santiment, 19,162 $BTC were withdrawn from exchanges over the past week.

These coins are being moved to cold wallets.

🔥 Ethereum’s weekly transaction count has just reached an all-time high of 17.3 million transactions, while the median transaction fee has dropped to a record low of just $0.008.

Usage is up. Costs are down. At the same time.

👉 2021 peak: ~21 million transactions per week, but median fees surged to over $25
👉 2026 (current): 17.3 million transactions per week with costs under 1 cent per transaction
👉 Equivalent to roughly a 3,000× reduction in cost per transaction

💡Solstice update:

Solana's largest fixed income market keeps getting larger.

Exponent Finance PT-USX 1JUN26 cap updated to $35m.

0% trading fees until midnight UTC.

Bitcoin Market Update: Spot and Futures Momentum

Selling pressure is currently quite strong in both the futures and spot markets, with both whales and retail investors increasingly focusing on short positions.

The strongest selling pressure is coming from the futures market on Binance.
#BTC $BTC

⏰ Projects that will unlock tokens and cause supply inflation to watch in the next 7 days.

Major cliff unlocks: $ZRO, $YZY, $ARB, $KAITO.

Notable linear unlocks: $SOL, $WLD, DOGE, $TRUMP, $ASTER, and many other tokens.

💡Solstice update:

Defi School: APY Is a Number, Not a Promise

Read more here: https://x.com/solsticefi/status/2023775338149405144?s=46&t=g1FCaAAqzLb7eaZwNIth3A

🔥 BlackRock continues depositing funds to exchanges

Today, they deposited 2,500 BTC (~$170M) to Coinbase.

Over the past 10 days, their ETH + BTC ETF flows have been negative by nearly ~$1B.

P/S: The U.S. trading session is about to begin.

👀 Eric Trump shills BTC again live on CNBC

He shared that, based on Bitcoin’s historical average annual growth rate, Bitcoin will soon reach $1 million. He said he has never been more optimistic about Bitcoin in his life.

P/s: Still remember clearly when Eric Trump once said that Q4 for crypto would be unimaginable 🙏

🔥 Donald Trump issues an ultimatum to Iran

Donald Trump has demanded that the United States reach a meaningful agreement with Iran within the next 10 days.

He warned that the U.S. may have to go further if negotiations fail, and that Iran must reach a deal — otherwise, serious consequences will follow.

Iran must not be allowed to possess nuclear weapons.

With this kind of tone, it seems unlikely that an agreement will be reached 🙏

👀 $ETHFI has notable on-chain activity.

A few hours ago, $ETHFI worth $1.9 million was transferred from an Anchorage Digital wallet to another wallet.

Historically, these tokens have been gradually moved to Binance each month.

After that, the price has typically tended to dump by an average of 15%.

Wallet:
0x44e68b480072209baE4e634a2D4129fB0B2cBe8c

💡Since $ETH formed its bottom, altcoin trading volume has increased significantly compared to the previous cycle. 📈

Altcoins are seeing extremely high trading volumes, with thick buy walls appearing across the market.

While most retail investors are selling altcoins out of fear, other capital flows are quietly absorbing all that selling pressure.

The groundwork for the next bullish cycle is silently taking place, backed by unprecedented buying power. 🔥

🔥 The U.S. Supreme Court Rejects Trump’s Global Tariff Policy

The Supreme Court of the United States has officially ruled that President Trump’s tariffs are unlawful.

The United States is now facing nearly $200 billion in potential tariff refunds.

It’s unclear whether this is good or bad news for the market.

🔥 Multipli update:

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$AAVE is facing the worst on-chain activity of the year.

Specifically, last night, as many as six whale wallets were continuously selling $AAVE.

These wallets are not related to each other: some previously bought the token, some withdrew tokens from DeFi platforms, and others received tokens from team wallets.

List of wallets:
0x0c8977FE02F0F2014d8D7Ba700cbbe8fd92d0b00
0xF24b73A328dF29cdde804aCF605B8722aD5030DA
0xBB5a3453eE1d35A4E4A182F9d1B62C26794bf4d4
0x05Fcde26a0aFD374036bfC5f7CB10b5950e96286
0x7b361AD5aBfF3a727F0eF580eAC464a94569D64C
0xbc833391c8C199050DE9F2896e2fdE76e29c88dD

🧐 Vitalik continues selling ETH after two weeks of silence

With nearly $1 million worth sold recently, Vitalik Buterin has now sold a total of approximately 7,500 ETH, equivalent to nearly $16 million. 🙄

🔥 $200M liquidated in just the past hour. 🥲