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Bitcoin's Puell Multiple Indicator Shows Miner Pressure, Analysts Say $59,000 May Be This Cycle's Bottom

2 hours ago

June 21 — Crypto analyst Lark Davis noted that the current reading for Bitcoin’s Puell Multiple indicator signals the market is either approaching or already in the bottoming phase of this cycle. This metric measures miner profitability by comparing their daily earnings to the 365-day average, and historically, periods where miner income stays low (forcing them to sell Bitcoin to cover operating costs) tend to align with the cycle’s lowest points. Davis added that while the indicator hasn’t hit the green oversold territory yet, signs of stress among miners have emerged — a development that typically marks the end of a bear market. He also pointed out that the price action in this cycle has been far milder than historical patterns would indicate. As for whether $59,000 will hold as the cycle’s low point? Davis says that will become clear over the coming months, though the clues pointing to that possibility are growing more distinct by the day.
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Iranian President: $6 Billion of Frozen Funds to Be Returned in Preliminary Ceasefire Agreement

June 21 — According to Al Jazeera, Iran’s president announced that as part of a preliminary deal to end the war with the U.S., the $6 billion currently held by Qatar will be returned.

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The Iranian media reported that the ship traffic in the Strait of Hormuz has dropped to 0.

June 21 – Iran’s Tasnim News Agency reported that, based on maritime navigation data, no vessels have transited the strategic Strait of Hormuz since the Iranian military announced its closure on June 20. Traffic through the key waterway has fallen to zero, directly contradicting claims from the U.S. military. The news agency asserts the Strait of Hormuz is currently blocked under Iranian control.

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US and South Korean Stock Price Forecast on Monday: MRVL, AMD, Intel Expected to Slightly Rise in Pre-market Trading, Micron and Samsung Electronics Set to Open Higher

**June 21 Update: U.S. Stock Market Closed 3 Straight Days; On-Chain Platform Trade.xyz Pre-Prices Monday’s U.S. & South Korean Equities** The U.S. stock market has been shuttered for three consecutive days, while on-chain Nasdaq-related platform Trade.xyz now offers continuous trading via perpetual contracts—providing real-time price discovery unavailable in traditional finance to set preliminary pricing for Monday’s U.S. and South Korean stock markets. Popular U.S. stocks on Trade.xyz show mixed weekend performance relative to Friday’s after-hours levels; slight gains are forecast for MRVL, AMD, and Intel in Monday’s pre-market session. Per Bitget market data: - SpaceX: Currently trading at $181.2 (vs. Friday’s close of $181.6) - Micron (MU): $1145.7 (vs. Friday’s $1151.01) - Sandisk (SNDK): $2227.4 (vs. Friday’s $2209.87) - NVIDIA: $209.34 (vs. Friday’s $210.33) - Marvell Technology (MRVL): $316.8 (vs. Friday’s $313.57) - Intel: $138.38 (vs. Friday’s $134.16) - G

26 minutes ago

Adam Back: Strategy Will Not 'Reset,' Market's Negative View on Preferred Stock STRC Lacks Basis

BlockBeats reported on June 21 that Adam Back, CEO of Blockstream and an early Bitcoin community contributor, stated that the market’s negative view of Strategy and its preferred stock STRC lacks a factual basis. Back emphasized that what Strategy is essentially doing is selling Bitcoin to pay dividends, without altering its Bitcoin reserve strategy. Moreover, Strategy is proving it can deliver returns to investors via Bitcoin while reducing its debt ratio, showcasing a new financial model to the market. The firm suggested Bitcoin could potentially become a cash alternative asset in the future for corporate asset management and capital operations. Back added that the FUD surrounding MSTR and STRC has been exaggerated, and that Strategy will not "reset." Its long-term value lies in holding Bitcoin continuously and driving the market’s understanding of Bitcoin’s monetary properties.

26 minutes ago

Bitcoin Dips Below $64,000, 24-hour Gain Narrows to 0.7%

June 21: According to HTX market data, Bitcoin fell below $64,000, trading at $63,926 at press time, notching a 0.7% gain over the last 24 hours.

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Iran: Switzerland Talks to Last One Day, Lebanon Ceasefire to Be Central Topic

June 21 — According to Iran’s state-run Islamic Republic News Agency (IRNA), Foreign Ministry spokesman Saeed Khatibzadeh announced that Switzerland’s one-day Berne Summit will host an afternoon quadrilateral meeting between Iran, the U.S., Qatar, and Pakistan. The session is a follow-up to the implementation of the Memorandum of Understanding between Iran and the U.S. A key focus of the Swiss gathering will be the U.S.’s failure to broker a ceasefire in Lebanon. Additional topics on the agenda include exemptions for Iran’s oil sales and the unfreezing of Tehran’s frozen assets.

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