"The 'BTC OG Insider Whale' has closed positions for ZEC and UNI longs, but still holds a $80 million BTC long position"

On June 19, Bitget market data shows that the Stretch variable-rate perpetual preferred stock (ticker: STRC) issued by Strategy plc plummeted to a recent low overnight, hitting a nadir of $82.7 and closing at $88.8 today. According to reports, STRC is a preferred stock Strategy offered to raise capital for Bitcoin purchases, with a face value roughly pegged at $100 and a high dividend. Its dividend rate adjusts based on price movements, aiming to keep the trading price as close to the face value as possible. The significant de-pegging of STRC signals the market is demanding a higher yield, and also reflects eroding investor confidence in Strategy’s creditworthiness and dividend stability. Historically, Strategy has relied heavily on STRC issuances to fund its Bitcoin buys; when STRC trades below face value, issuing new shares is no longer cost-efficient—equivalent to borrowing at a higher interest rate. As a result, the firm’s ability to continue acquiring Bitcoin will be weakened.

On June 19, Bitget market data shows SK Hynix’s stock surged over 6% to hit a new all-time high, lifting its total market capitalization to $1.32 trillion.

Per an official announcement, Upbit will list the BTC and USDT trading pairs for PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP on June 19th.

June 19. On-chain analyst Murphy reported that Bitcoin’s (BTC) Long-Term Holder (LTH) net position has hit a new all-time high. As of June 17, LTH net position stood at 14.96 million BTC, beating the prior record set on March 27 by 20,000 BTC. This marks the second time LTH net position has notched a new high since BTC entered its current bear market. More BTC holders are stepping away from short-term speculation and trading: LTHs now hold 75% of the total circulating BTC supply. Historically, bear market bottoms typically form after LTH net position starts rising—meaning "position accumulation" precedes the "bottoming out" phase. In the last market cycle, LTH net position hit three new highs, each followed by a sharp distribution phase tied to key catalysts: Federal Reserve interest rate hike expectations, the Luna stablecoin collapse, and the FTX exchange implosion. This cycle is currently seeing its second new LTH net position high. The critical factor isn’t the number of new high

June 19: SpaceX has secured investment-grade credit ratings from Moody’s, Fitch, and S&P Global—each issuing a "stable" outlook for the company. This consensus signals widespread market confidence in SpaceX’s financial stability, as the firm pursues an ambitious, capital-intensive artificial intelligence initiative in a highly competitive market.

June 19 — Insiders revealed to The Information that prediction market platform Kalshi has topped $2 billion in annual revenue and held preliminary, informal talks about an IPO with multiple investment banks.