Bitcoin (BTC) rebounded since the start of the week before pulling back; as of June 24, it is temporarily around $62,790. The U.S. House of Representatives passed housing legislation that includes a Federal Reserve central bank digital currency (CBDC) ban, which has been submitted to President Trump for signing; the ban will last until 2030. The U.S. Department of Justice has seized a cloud computing account used by Huione Group for laundering billions of dollars in crypto scam proceeds.
Macro Events & Crypto Hotspots
1、According to Cointelegraph, the U.S. House of Representatives passed the housing legislation by 358 votes to 32, including a provision temporarily banning a central bank digital currency (CBDC); the ban will last until 2030. The bill has now been submitted to President Trump for signing. Earlier yesterday, the U.S. Senate passed the housing bill, including a four-year Federal Reserve CBDC ban.
2、According to The Block, the U.S. Department of Justice has seized a cloud computing account used by Huione Group in Cambodia, which is alleged to have been used to launder proceeds from crypto currency scams totaling billions of dollars. Assistant Attorney General A. Tysen Duva said the account provides technical support, allowing scam funds to be moved and concealed through a scam hub in Southeast Asia. The action is part of “Operation Whirlwind.” Last year, the U.S. Financial Crimes Enforcement Network (FinCEN) designated Huione Group as a priority money-laundering concern.
The statement said Huione’s subsidiaries are suspected of helping criminals move funds from investment scams, cyber theft, and other illegal blockchain activities, and ultimately funneling them into the legitimate banking system, where a large portion of the theft is allegedly related to North Korea. Huione’s “Huione Guarantee” previously posted advertisements on a Telegram channel for stolen credit cards, identity information, malicious software revenue, and human trafficking services. Blockchain analytics firm Elliptic noted that, under financial pressure last year, Huione launched the stablecoin USDH and built an in-house brand product line including decentralized exchanges, wallets, and a “Huione Chain” (Xone).
News Updates
1、Draft amendments to the People’s Bank of China law aim to clarify the legal status of the digital yuan
2、Sonic Labs extends Fantom Opera operations to the end of the year and discloses a new leadership structure
3、Sahara AI extends its token unlocking schedule and says it is not considering introducing a burn mechanism
4、The U.S. House passes housing legislation that includes the Federal Reserve CBDC ban and submits it to President Trump for signing
5、SecondFi: a security incident affects about 16 million ADA, with the issue stemming from a web wallet generating software
6、Cboe Futures Exchange launches the CBOE Predicts prediction platform
7、CryptoQuant: Strategy should temporarily pause buying Bitcoin and rebuild cash reserves
8、The U.S. CFTC sues Kentucky over regulatory authority for prediction markets; it is the ninth state being sued
9、The U.S. Department of Justice seizes a cloud computing account used by Huione Group to launder billions of dollars in crypto scam proceeds
10、SpaceX tests the bond market, planning to issue $25 billion in bonds
Market Trend
1、Bitcoin latest update: <a data-currency='BTC' href='/trade/BTC_USDT'>$BTC It has pulled back from its rebound since the start of the week and is currently around $62,790; over the past 24 hours, $153 million has been liquidated, with long positions being the main trigger;
2、All four major U.S. stock indexes fell on June 23: the Nasdaq index plunged 2.2%, the Philadelphia Semiconductor Index tumbled by over 1,000 points and sank nearly 8%, chip stocks retreated from historical highs, and many technology stock giants were hit by sell-offs—showing that buying of AI infrastructure-related stocks that drove the market higher over the past year has begun to reverse. The Dow Jones Industrial Average closed down 45.57 points, a decrease of 0.1%, at 51,666.84 points; the S&P 500 fell 107.33 points, down 1.44%, to 7,365.46 points; the Nasdaq Composite fell 579.56 points, down 2.2%, to 25,587.04 points. The Philadelphia Semiconductor Index plunged 1,152.21 points, down 7.9%, to 13,482.51 points, retreating from the previous day’s historical high.
（Source: Gate）
3、In the Gate BTC/USDT liquidation map, using the current 62,990 USDT as the reference: if it drops to around $62,921, the cumulative amount of long-position liquidation will exceed $74.58 million; if it rises to around $63,352, the cumulative amount of short-position liquidation will exceed $226 million. The liquidation amount on the short side is significantly higher than on the long side; it is recommended to reasonably control leverage ratios to avoid triggering large-scale liquidations amid market fluctuations.
（Source: Coinglass）
4、Within the past 24 hours, BTC spot inflows were $2.20 billion, outflows were $2.44 billion, and net outflows were $240 million.
（Source: Coinglass）
5、Within the past 24 hours, contract trades with net outflows led for $SPCX, $SYN, $DEXE, $EWY, $HEI , and others, and there are trading opportunities.
Selected Views from X KOLs
Phyrex Ni（@Phyrex_Ni）：「Today’s market is really quite miserable—it mainly started from the opening of the South Korean stock market. KOSPI fell sharply; core semiconductor heavyweight stocks like Samsung Electronics and SK hynix also fell together. This round of gains in Korea’s stock market had already relied heavily on semiconductors, high-bandwidth memory, and demand for AI servers, so once Korea started to drop, market sentiment quickly spread to the U.S. stock market.」
「In the U.S., the stocks impacted most obviously are chip- and AI-related names. Companies like Micron, Nvidia, AMD, and Broadcom are all tied to AI servers, data center capex, and the memory cycle. After Korean semiconductors fell hard, panic sentiment appeared in the market. Coupled with more cautious expectations for interest rates, high-multiple technology stocks naturally become the first to be treated as hedges.」
「Another key point is that tomorrow is Micron’s earnings report. Micron is no longer just a typical memory company; the market views it as a validation target for the AI memory cycle and demand for high-bandwidth memory. Since SK hynix and Samsung fell first in Korea, and Micron’s earnings are about to be released immediately after, funds would naturally reduce positions in advance to avoid scenarios where the earnings disappoint expectations or the guidance isn’t strong enough.」
「So today’s drop is somewhat like concentrated hedging ahead of earnings. Over the past period, AI has risen too aggressively; once the strongest semiconductor names start to loosen, the next wave of capital tends to pull back first to stand by. Especially for a company like Micron, which sits right between the memory cycle and AI servers, before the earnings come out it can easily become an amplifier of overall market sentiment.」
「For Bitcoin, it is still following the U.S. stock market, making it difficult to remain independent. When the Nasdaq and semiconductors fall, the market usually first reduces leverage and increases the cash ratio; $BTC and altcoins will also be affected by risk appetite. The next focus is whether Micron’s earnings can hold up expectations for AI memory demand. If the earnings and guidance are strong enough, today may turn out to be more like a quick hedge. But if Micron also can’t hold, semiconductors and risk assets will likely continue to face pressure in the short term.」
Today’s Outlook
1、Germany June IFO Business Climate Index; prior value was 84.9
2、U.S. May New Home Sales (annualized monthly rate); prior value was -6.2%
3、U.S. EIA crude oil inventory change last week (ten thousand barrels) (to 0619); prior value was -826.3
