Morning Minute: Bitcoin Headed for Uncommon Again-to-Again Quarterly Loss – Decrypt

Morning Minute is a each day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially replicate these of Decrypt. And check out our new each day information present overlaying all the high tales in 5 minutes, downloadable on Apple Pod or Spotify.

GM!

At the moment’s high information:

• Crypto majors chop over the weekend, lag shares; BTC regular at $60k
• BTC ETFs see $1.79B in outflows on week, third most ever
• Brian Armstrong responds to criticism of Coinbase app selling playing
• Unlicensed crypto corporations in Europe face bother forward of July 1 MiCa deadline
• ANSEM cools off after weekend run to $120M, now again at $80M

📉 Bitcoin Headed for Uncommon Again-to-Again Quarterly Loss

Bitcoin is buying and selling just under $60,000 and is on monitor for a uncommon back-to-back quarterly loss.

It’s down roughly 12% this quarter after a 22% drop in Q1, which breaks its traditionally robust second-quarter sample, with the quarter and first half each closing Tuesday. The selloff bottomed at a $58,115 low on June 26, a 20-month low, and the bounce since has been shallow.

The causes have been fairly constant:

• regular outflows from spot Bitcoin ETFs (one other $1.79B this previous week)
• a hawkish Fed below Kevin Warsh
• a greenback at 12-month highs
• capital rotating into semiconductor and memory-chip shares using the AI growth.

The injury runs deeper in altcoins. ETH is down about 25% on the quarter and 47% on the 12 months, and over the previous week Dogecoin, XRP, and HYPE all posted double-digit losses. Solana held up a bit higher, however continues to be down 43% on the 12 months.

The back-to-back losses feed the larger debate over whether or not Bitcoin’s four-year cycle is breaking, since a purple 2026 would push the same old three-up, one-down rhythm right into a second straight down stretch. However the bulls have a chart of their very own.

Each prior time Bitcoin closed two purple six-month candles in a row, in 2018 and 2022, it was adopted by a three-year uptrend. The second purple six-month candle of this stretch closes in two days.

Pair that with a Concern and Greed studying of 18, deep in Excessive Concern, and the setup appears to be like both like the beginning of a deeper breakdown or the type of capitulation that has marked previous bottoms. Let’s hope it’s the latter…

🌎 Macro Crypto and Markets

• Crypto majors are principally flat over the weekend; BTC -1% at $59.8k; ETH -1% at $1,570; SOL +1% at $72; HYPE even at $63.13
• ENA (+4%), AVAX (+4%) and AAVE (+3%) led high movers
• Oil even at $69.80; Gold -1% at $4,050
• Inventory futures are inexperienced after a brand new US-Iran truce; DOW +0.5%, Nasdaq +1.3%
• Brian Armstrong responded to criticism that the Coinbase app promotoes playing on BTC value motion and sports activities betting, stating that customers are free to behave how they need however that Coinase shouldn’t be aggressively selling
• Coinbase and OKX are going after Binance’s Euro clients as their MiCa license is ready to run out on July 1
• Technique’s enterprise mNAV fell under 1 for the primary time, that means the market now values the corporate at lower than its Bitcoin holdings, erasing the premium that for years gave Saylor the flexibleness to lift capital and purchase extra BTC
• Securitize, the BlackRock-backed tokenization agency, is ready to go public this week below the ticker SECZ by a SPAC merger on the NYSE
• Cardone Capital is utilizing actual property revenue to purchase Bitcoin throughout value drops, with Grant Cardone funneling rental money move into BTC on dips
• Binance founder CZ blamed crypto’s 2026 efficiency on a mixture of AI, international stress, and the four-year cycle, saying there’s no single trigger for the market’s roughly 50% decline over the previous 12 months

Company Treasuries & ETFs

Meme Coin Tracker

• Meme leaders have been purple on the week; DOGE -13%, SHIB -10%, PEPE -18%, PENGU -8%, TRUMP -12%, BONK -9%
• ANSEM ran from ~$1M to $120M over the weekend in one of many greatest strikes seen in months
• WYNN (+38x), Solangeles (+90%) and alon (+80%) led movers on Solana
• Base movers included Rave (+30%) and POD (+22%)

📈 Myriad Market of the Day

💰 Token, Airdrop & Protocol Tracker

• Hyper Basis introduced $10M in grands to assist builders impacted by the USDH sundown
• The identical sequencer bug triggered the Base outages that occurred on June 25 and 26

🚚 What is going on in NFTs?

• NFT leaders have been principally flat over the weekend; Punks +1% at 32.5 ETH, BAYC +1% at 8.85 ETH, Pudgy -1% at 4.5 ETH; Hypurr’s +10% at 228 HYPE
• Creepz (+77%) and Chimpers (+20%) led high movers
• A number of Punks offered for multiples above the ground this weekend, together with a 3D Hoodie for 278 ETH, a VR for 135 ETH, and a Pilot for 100 ETH