Crypto Digest: June 22–29, 2026

Crypto Digest: June 22–29, 2026

Market Overview

Bitcoin spent the week under pressure. On Friday, the price dipped to $59,000 as the DXY dollar index climbed – the market responded to dollar strength with a typical sell-off in risk assets. As of June 29, BTC trades around $59,752.

The defining derivatives event was the largest options expiry of the year. On Friday, $8.6B in bullish Bitcoin bets expired worthless. An expiry of this scale always weighs on the spot market ahead of the settlement date: market makers hedge positions and create additional price pressure. Now that expiry is behind us, the technical picture is somewhat cleaner.

The Korean market deserves separate attention: the local fear index is five times higher than its US counterpart, and volatility has reached record levels. Korea has historically served as a barometer of retail overheating – when the local market is this nervous, a global reversal usually isn't far off.

We stick to levels set in advance and don't chase short-term moves. The current state of our portfolio is publicly available.

Top 5 Events of the Week

1. Runes Drove Bitcoin Activity to a Two-Year High

The Runes protocol pushed Bitcoin on-chain activity to levels not seen in two years. This is a direct result of the maturing token ecosystem on the base layer: Runes gave developers and traders a tool that works without additional layers. The rise in transaction volume increases fee revenue for miners – especially significant after last year's halving. The network isn't idle; it's earning.

2. Clarity Act: Senate Has 20 Working Days

Republicans in the US Congress are pushing the Clarity Act – a law that would clearly define which crypto assets are securities and which are commodities. The Senate has 20 working days to pass it. If enacted in its current form, the US market will gain the regulatory clarity it has been waiting for since 2022. Exchanges will be able to list more assets without the risk of legal challenges – a positive for the entire industry.

3. Fidelity Addressed Bitcoin Security Skeptics

Fidelity analysts published research disputing the thesis that declining miner rewards after halvings threaten network security. Their calculations show that a combination of price appreciation and protocol development – such as Runes – will keep economic incentives at a sufficient level. For long-term Bitcoin holders, this is a significant argument: a leading traditional asset manager publicly dismisses one of the main risks cited by skeptics.

4. Grayscale Called on Strategy to Sell $3B in Bitcoin

Grayscale analysts recommended that Strategy (formerly MicroStrategy) sell part of its Bitcoin position worth $3B. The rationale: Strategy shares trade at a premium to the BTC value on its balance sheet, and a partial sale would lock in gains for shareholders. The market read this as an indirectly bullish signal – if the largest corporate BTC holder is considering profit-taking, the price is already high enough for such decisions.

5. Polymarket: Revenue Crossed $1B Annualized

CNBC reported that Polymarket's annualized revenue has exceeded $1B. Prediction markets have evolved from a niche tool for enthusiasts into a full-scale financial product with billion-dollar volumes. Against this backdrop, DraftKings launched its own prediction exchange, DKeX – the traditional gambling giant is moving into Web3 for audience and liquidity.

On-Chain Signal

Runes is the main on-chain story of the week. Activity rising to two-year highs is pushing Bitcoin network fees higher. For miners, this is good news: fee revenue offsets the reduction in block rewards after the halving. For the long-term thesis, it confirms that Bitcoin L1 remains a live and in-demand layer.

The $59,000 price level has become short-term support: that's where the price retreated this week and where buyers stepped in. If next week doesn't bring a break below, the technical picture remains neutral with upside potential.

On the technology side: IBM researchers improved logical qubit retention to 96% on the Heron machine. This poses no practical threat to SHA-256 – quantum computers remain at the laboratory stage. Fidelity's research confirms the same position. We're watching, but not concerned.

DeFi

Aave: Standard Chartered Looks Higher

Standard Chartered analysts suggested that deposits on Aave could grow. Interest from traditional banks in the largest DeFi lending protocol signals that institutional capital is exploring on-chain yields as an alternative to traditional money market instruments. When banks start modeling the growth of a competing product, the market takes note.

Hyperliquid: +400% Forecast by 2028

Multicoin Capital published a thesis on Hyperliquid (HYPE) – the venture fund projects the token growing more than 400% by 2028. The arguments: the perpetual DEX has captured a meaningful share of the derivatives market, and volumes continue to grow. We don't give investment recommendations, but the Multicoin thesis is interesting as an indicator of where smart venture capital is looking.

BIS Against Stablecoins

The Bank for International Settlements published a report calling stablecoins unfit to serve as full-fledged money. The main concerns: the absence of a single issuer, de-peg risks, and dependence on traditional banks.

Paradoxically, reports like this accelerate regulatory work. When BIS says "not fit in its current form," the market hears "a standard is needed" – not "a ban is needed."

Against the backdrop of market consolidation, Loopring announced the closure of its DEX. The platform couldn't withstand competition from more liquid alternatives. The exit of secondary protocols is a normal part of the cycle: liquidity flows to leaders, weaker players exit.

Airdrops

As Bitcoin network activity grows through Runes and prediction markets develop, several projects are announcing programs for early users. See our airdrops section for the current list of active campaigns – we update it weekly.

What's worth checking right now:

• Runes ecosystem. Early holders and traders of Bitcoin L1-based tokens have historically been included in snapshots of related projects. Activity is rising – the window for building a position is narrowing.
• Hyperliquid. The protocol has already run one major airdrop, but activity on the platform continues to be rewarded through a loyalty program. Trading volumes affect distributions.
• DKeX by DraftKings. The new prediction exchange just launched. Early users on new platforms have traditionally been in an advantageous position for potential future distributions.

Our Tools

A week with an $8.6B expiry and a price dip to $59,000 is a good reminder of why a DCA strategy matters. Regular fixed-amount purchases remove the question of "buy now or wait" and average the entry price across multiple volatility cycles. Our DCA calculator shows what your position would look like under different accumulation parameters.

For those tracking the macro context: DXY strength, Korean market activity, and derivatives expiry are all factors that move Bitcoin in the short term. Our macro dashboard brings key indicators together in one place – no need to monitor a dozen different sources.

If you're looking for a reliable market entry point, compare conditions on trusted platforms through our exchanges section.

Until next week. We're watching the $59,000 level and how the Clarity Act vote plays out in the Senate.