CoinEx chief analyst Jeff Ko expects bitcoin to continue trading sideways around the $65,000 level as investors focus on declining oil prices, a 10-year Treasury yield near 4.7%, and a major week of earnings from large-cap technology companies.
Bitmine Immersion, the crypto treasury firm led by Tom Lee, added 9,946 ETH to its holdings last week, increasing its total ether reserves to 5,787,414 tokens.
The company also increased its share repurchase activity, buying back 6.1 million common shares compared with 5.5 million shares in the previous week.
Tom Lee said the larger buyback reflects the company’s view that the improving ETH/BTC ratio, despite lower expectations for the Clarity Act passing in 2026, indicates stronger momentum across crypto markets.
BMNR shares gained 4.9% in pre-market trading as ether prices climbed about 3% over the previous 24 hours.
Bitcoin treasury company Strive reported purchasing 79 BTC last week, raising its total bitcoin holdings to 20,000 coins.
The firm also acquired 808 shares of Strategy’s STRC preferred stock, increasing its holdings of the security to 43,879 shares.
A regulatory filing showed that Strive funded the purchases through a combination of existing cash reserves and proceeds from selling common stock.
Strategy added $525 million to its USD Reserve last week, lifting the total balance to $3.75 billion. Michael Saylor said the reserve now provides roughly 2.1 years of coverage for preferred stock dividend payments.
The company raised $544.5 million through the sale of more than 5.4 million common shares, according to an SEC filing.
Of that amount, Strategy used $25 million to repurchase 288,930 shares of its high-yield STRC preferred stock.
The company left its bitcoin holdings unchanged at 843,755 BTC.
Strategy shares rose 2.8% before the market opened, supported by a modest weekend increase in bitcoin prices, while STRC gained 2.45%.
Chinese memory chipmaker CXMT surged after its IPO, with shares jumping roughly 466% and pushing its market capitalization to about $484 billion.
The company, seen as China’s competitor to Micron, SK Hynix, and Samsung, became the country’s most valuable publicly traded firm, surpassing Industrial and Commercial Bank of China.
Apple could potentially become one of CXMT’s customers, as the company has reportedly been seeking approval from the Trump administration to use CXMT chips in devices sold outside the United States.
Oil prices dropped sharply as tensions between the U.S. and Iran appeared to ease over the weekend.
U.S. Ambassador to the United Nations Mike Waltz said President Trump was allowing diplomacy “some space,” helping reduce concerns around further escalation.
WTI crude fell nearly 7% to $83.14 per barrel, while Brent crude declined by a similar amount.
The drop in energy prices boosted risk appetite, with U.S. stock futures moving higher. Nasdaq 100 futures led the gains with a 1.35% increase, while Treasury yields edged slightly lower.
Bitcoin advanced 1.1% to $65,150, while ether and solana performed better, rising between 2% and 3%.
More than $1 million worth of stablecoins were lost in separate security incidents involving WEMIX and Garden Finance.
WEMIX and decentralized finance protocol Garden Finance temporarily suspended operations after separate attacks affected at least $1.17 million in stablecoins, although Garden said its platform and user funds were not compromised.
WEMIX said an attacker gained control of a related contract and created about 5.23 million unauthorized tokens. Those assets were converted into 30,736 WEMIX and approximately $724,200 in USDC.e before being moved across Ethereum and BNB Chain.
Blockchain security firm Blockaid reported that roughly $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 contracts were not breached and attributed the issue to a compromised off-chain database belonging to an independent solver, adding that no customer funds were lost.
SpaceX shares have declined enough that investors may now be assigning little value to the company’s artificial intelligence business, according to Morgan Stanley analyst Adam Jonas.
The stock, which debuted at $135 in June, surged to $225 during its first week before falling toward $115 after briefly touching $110.85.
Jonas said a drop toward $100 following an expected insider lockup expiration could imply that investors are effectively valuing SpaceX’s AI division at zero or less.
The analyst maintained a $300 price target and recommended buying the stock, arguing that the decline reflects negative market sentiment rather than weaker business fundamentals.
Nearly 80% of analysts covering SpaceX rate the company as a buy, with an average price target of $232. Arkham data also indicates that SpaceX holds about $1.2 billion worth of bitcoin.
The ETH/BTC ratio climbed to 0.03, reaching its highest point since late April, according to TradingView data.
Ether 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 downturn stabilized on June 6.
The continued strength of ether compared with bitcoin could point toward a possible altcoin rally. However, bitcoin remains the dominant cryptocurrency, representing around 59% of the overall crypto market.
China continued increasing its gold purchases despite growing efforts by other major economies to incorporate crypto and blockchain technology into financial systems.
The country imported around 173 tonnes of gold in June, marking the third straight month of increased purchases and the highest level since March 2024.
Both institutions and retail investors contributed to demand, with individuals gradually accumulating gold through bank-backed savings programs.
China continues to enforce strict restrictions on crypto trading, mining, and stablecoins as part of efforts to prevent capital flight and financial instability.
Jeff Ko of CoinEx said bitcoin is likely to remain range-bound as several market factors have reduced volatility.
He cited lower oil prices following another pause in U.S.-Iran tensions, the 10-year Treasury yield approaching 4.7%, and the Federal Reserve’s potential flexibility ahead of upcoming PCE inflation and second-quarter GDP data.
Ko also highlighted corporate earnings as a key market driver this week, with Apple, Microsoft, Meta, and Amazon scheduled to release results.
He said company cash flow outlooks and AI investment plans could influence Treasury yields, Nasdaq performance, and the liquidity conditions that affect crypto markets.
Ko added that investors should pay attention not only to ETF flow totals but also to the type and quality of those flows.
