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Bitcoin Tops $110K, Drops on Israel–Iran Tension — Full Crypto Week Recap
- The week of June 8–14 saw significant events in the crypto sector that could influence crypto sentiment and value.
- Institutional BTC adoption continued with IBIT hitting $70B AUM, becoming the fastest ETF to reach this mark.
- US and China officials met in London to potentially resolve the trade war that has affected investor confidence.
- Tether announced plans to open-source its Bitcoin Mining OS to support smaller miners.
- Record number of traders betting against the market faced liquidations due to strong crypto market momentum.
- Strategy (formerly Microstrategy) acquired more BTC, and Siebert Financial was cleared by the SEC to invest $100 million in Bitcoin.
- Ripple Labs invested in blockchain research in 6 APAC nations.
- China and the US reached a trade agreement, boosting Bitcoin to its weekly high.
- The US Senate passed the GENIUS Act for stablecoin regulation, and Stripe acquired Privy, a crypto wallet provider.
- Bitcoin's momentum started to wane, dropping from $110,000 due to various economic factors.
- Israel's airstrikes on Iranian military sites led to Bitcoin dropping below $104K, impacting global tensions and energy markets.
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