Crypto Daybook Americas: Bitcoin Posts Record Monthly Close, but Euro Steals the Show
Bitcoin (BTC) concluded June at a record monthly high, exceeding $107,000, despite a modest 2.5% monthly gain. This lagged behind the euro’s nearly 4% surge against the dollar, prompting some traders to shift towards euro-pegged stablecoins. The dollar’s broad-based decline suggests continued easy financial conditions, yet BTC remains range-bound, attributed to profit-taking by long-term holders. Monday saw on-chain realized gains reach $2.4 billion. BTC traded slightly lower at $106,500, with similar trends observed in XRP, DOGE, SOL, and ETH, while BCH, ALGO, and PAXG showed resilience.
Analysts cite continued institutional adoption as a bullish factor. Germany’s savings bank network announced plans to enable crypto trading within a year, and Strategy disclosed a significant $531 million BTC purchase. While short-term momentum has waned, medium-term signals remain positive, particularly with corporate treasury accumulation. However, Q3 historically represents Bitcoin’s weakest period, with reduced liquidity increasing the risk of exaggerated price swings.
American Bitcoin, backed by Eric Trump, secured $220 million to acquire Bitcoin and mining equipment. An FTX creditor reported 120% payouts for claims under $50,000. Bloomberg ETF analysts predict a 95% chance of SEC approval for spot ETFs for Litecoin (LTC) and XRP this year. Traditional markets await Fed Chair Jerome Powell’s speech and Friday’s nonfarm payrolls data.
The REX-Osprey Solana Staking ETF (tSSK) is set to debut on the Cboe BZX Exchange, marking the first U.S. ETF combining SOL price exposure with staking rewards. Stablecoin transaction volume surpassed $4 trillion in June, highlighting continued adoption despite BTC’s price stagnation. ARK Invest sold nearly $95 million worth of Coinbase shares following COIN’s surge to record highs. The weakening dollar, fueled by factors including Trump-era tariffs and de-dollarization efforts, continues to impact global markets.
