The Incrypted editorial team has prepared for you another digest of the main events in the Web3 sphere over the week. In it we will tell you about signals of a possible bitcoin bottom and the accumulation of the asset by whales, the first Fed decision under Warsh and the uncertainty between the U.S. and Iran, the profitability crisis of bitcoin miners and their pivot toward AI infrastructure, as well as Binance's problems obtaining a MiCA license in the EU. In addition, we will look at the development of Ethereum, new risks for the crypto market and other key trends and challenges of the industry.

Top news 

Bitcoin

• Bitcoin's movement and the geopolitical factor 

Although bitcoin began the week above $66,000 amid a statement by U.S. President Donald Trump about reaching agreements with Iran, after the FOMC meeting and the unchanged interest rate announced by new Fed chair Kevin Warsh, the asset slumped below $64,000. At the time of writing, the first cryptocurrency is trading at $64,123, according to TradingView.

• Signs of a bottom or just a pause before a new fall?

CryptoQuant analysts recorded a decline in selling pressure on the bitcoin market: long-term holders are moving coins to exchanges less often, and whales, after the drop to $61,400, have returned to accumulation. Experts also call the $60,000-$61,500 range a key support zone, while the SSRR and CVDD models point to a possible formation of the current cycle's bottom.

However, at Wintermute they consider the latest growth merely a technical rebound after the correction and allow for a further decline of bitcoin all the way down to $50,000. Analysts cite the outflow of institutional capital as an additional risk, although at CryptoQuant they already see signs of seller exhaustion, the gradual exit of "weak hands" from the market and "dangerous optimism."

• Investors are betting on bitcoin despite contradictory signals

At Bitwise they reported an improvement in market sentiment and that bitcoin is undervalued compared with companies in the AI and semiconductor sphere, although they forecast the next bull cycle of the crypto market to be slower and less volatile. In turn, Coinbase CEO Brian Armstrong suggested that bitcoin has already formed a local bottom near $60,000 and continues to strengthen its status as "digital gold."

Confirmation of long-term confidence in the asset came from the position of Mexican billionaire Ricardo Salinas Pliego, who holds up to 80% of his liquid portfolio in bitcoin. At the same time, the market is closely watching the actions of major players: Bhutan continues to reduce its BTC reserves, and Peter Schiff criticized Michael Saylor and Strategy after the fall of the STRC preferred shares.

Saylor's trick: how Strategy managed to become the largest public holder of bitcoin 17.06.2025 Read

Regulation

• Geopolitics remains a factor of uncertainty

The first round of negotiations between the U.S. and Iran in Switzerland, scheduled for June 19, was postponed indefinitely for logistical reasons. Despite the delay, in Washington they stressed that the agreements between the parties remain in force and are already yielding certain results.

At the same time, at the Financial Times they believe that the Trump administration made a number of strategic miscalculations in the standoff with Tehran. Among them — underestimating the political resilience of the Iranian leadership, public statements about Iran's alleged readiness to make concessions, as well as a weakening of coordination with allies, which complicated the formation of a unified international position.

The publication's authors also drew attention to the absence of a clearly formulated end goal of the American campaign. In their view, contradictory signals regarding regime change, the nuclear program and the terms of a potential agreement could complicate the achievement of long-term stability in the region and maintain an elevated level of uncertainty for global markets.

• The U.S. is tightening regulation of the crypto market

American regulators proposed new customer identification rules for stablecoin issuers as part of implementing the GENIUS Act. The initiative is aimed at strengthening controls over combating money laundering and the financing of illegal activity through digital assets.

The GENIUS plan for stablecoins — a new era of regulation of "stable coins" in the U.S. 30.07.2025 Read

In parallel, lawmakers agreed on restrictions for the Fed on launching a CBDC until the end of 2030. Representatives of the crypto industry view this as a positive signal for the development of private stablecoins in the U.S.

• New challenges for crypto companies

The authorities of the state of Illinois introduced a 0.2% tax on digital asset transactions for companies engaged in the exchange, transfer or storage of cryptocurrencies. Industry representatives have already criticized the innovation, calling it discriminatory and something that could become the subject of legal disputes.

Meanwhile, Binance risks not obtaining a MiCA license in the European Union. In the event of a refusal, the exchange could lose the right to operate on the European market as early as July, although the company itself claims full compliance with the requirements of the regulation.

Mining

• Pressure on miners is intensifying

JPMorgan analysts stated that bitcoin has already been trading below the approximate cost of production for five months, due to which about 20% of miners are operating at a loss. Against this backdrop, some companies were forced to reduce their reserves of the first cryptocurrency, and the network recorded one of the largest drops in mining difficulty in history — by more than 10%.

The decline in difficulty was a consequence of part of the miners shutting down after the drop in the bitcoin price. The adjustment may temporarily ease operating conditions for the network participants who remained in the game.

• Mining is looking for new points of growth

Despite the difficult market situation, countries and companies continue to invest in mining infrastructure. Enegix Global announced the launch of Oman's national bitcoin pool Omanhash.om, which in the first stage will pool about 10 EH/s of hashrate.

At VanEck they believe that the future of the industry is increasingly tied to artificial intelligence and high-performance computing. According to analysts, the market is beginning to value bitcoin miners as operators of data centers for AI, although to realize these ambitions the sector may need about $50 billion of additional financing.

Global mining: regions with the best conditions for cryptocurrency production 14.09.2023 Read

Ethereum

• The Ethereum market awaits a new impulse

Open interest in Ethereum futures on Binance reached an all-time high of 3.7 million ETH, and the exchange's share of the derivatives market exceeded 44%. At the same time, Santiment analysts recorded the lowest crypto asset trading volumes since mid-2024, noting that such a lull often precedes a "relief rally." At the time of preparation, the price of Ethereum stands at $1,727 according to TradingView.

• Ethereum between challenges and long-term bets

Meanwhile, former Ethereum Foundation employee Trent Van Epps warned of the risk of a funding crisis for the ecosystem. By his estimate, as soon as within the next 3-9 months the development of the protocol could face a shortage of stable funding sources, which would require new mechanisms for management and support of developers.

However, supporters of the network believe that Ethereum's fundamental position remains strong. They stress that Ethereum today is precisely the key infrastructure for stablecoins, asset tokenization and DeFi, and that the open nature of the network and the compounding effect of developers could secure for it the same long-term dominance that the internet and Linux once obtained.

Altcoins

• DeFi is regaining investors' attention

Standard Chartered analysts forecast the Uniswap token to grow to $100 by the end of 2030, naming asset tokenization the main driver of DeFi development. At Grayscale they also assess the sector's prospects positively, singling out among their favorites the Aave, Uniswap and Hyperliquid projects.

The positive sentiment was also supported by the Zcash rally: the ZEC token jumped to almost $500 after a statement by project co-founder Zooko Wilcox about a successful security audit involving the Claude Mythos model from Anthropic. Against this backdrop, the project's capitalization exceeded $8 billion, and trading activity rose sharply.

The ZEC token fell by more than 50%: how a critical vulnerability in Zcash crashed the coin's price 05.06.2026 Read

• Memecoins are losing momentum

The pump.fun platform recorded a sharp drop in activity and revenue: since the beginning of the year its daily revenue has shrunk by more than 70%, and the number of users and token launches has fallen significantly. The downturn was also reflected in the Solana ecosystem, which also lost part of its revenue from the memecoin boom.

Against the backdrop of these figures, in the crypto community there is increasingly talk of the end of the current cycle of memecoin popularity. Market participants believe that speculative capital is gradually shifting toward more fundamental areas, in particular DeFi and the tokenization of real assets.

Sam Bankman-Fried is again in the spotlight

After filing a clemency petition, Sam Bankman-Fried faced resistance from American lawmakers. Senators Cynthia Lummis and Ruben Gallego introduced a resolution that calls for not softening the punishment of the former head of FTX, stressing the absence of signs of remorse.

Bankman-Fried himself, meanwhile, is already talking about plans after a possible release. In an interview he said he would like to launch his own token, and also spoke about life in prison, his fears and future projects.

FIFA is expanding its use of blockchain

The International Federation of Association Football FIFA integrated the Avalanche blockchain into the ticket sales system for the 2026 World Cup. The new model uses digital rights to purchase and receive tickets, which should reduce the level of fraud, bot activity and speculation on the secondary market.

According to the media, the volume of operations with RTB and RTT digital rights has already exceeded $25 million. The solution was implemented through the FIFA Collect platform and became one of the largest examples of the practical use of blockchain technologies in the sports industry.

Algorand is preparing for new technological challenges

The blockchain presented a roadmap for transitioning to post-quantum cryptography and plans to complete the implementation of key protection mechanisms by the end of 2027. At the foundation they believe that preparation for a potential threat from quantum computing should begin long before the arrival of the so-called Q-Day.

On the threshold of "Q-Day": how real is the quantum threat to the crypto industry? 02.06.2026 Read

The project already uses individual elements of post-quantum protection and is preparing to launch native Falcon-1024 accounts. In the crypto community such steps are viewed as an example of a proactive approach to the long-term security of blockchain networks.

Artificial intelligence

• AI agents are entering the physical and economic world

Anthropic reported that the Claude Opus 4.7 model learned to work independently with a robot as part of the Project Fetch experiment, surpassing company employees on individual tasks. At the same time, the system was unable to successfully complete the final stage of testing, which underscores the limitations of even the most advanced models.

Source: Incrypted