CoinDesk
Crypto markets kicked off June on the back foot, with Bitcoin trading at $72,700 — negative for a sixth time in seven days — and Ether sliding alongside it. Geopolitical pressure from U.S.-Iran tensions weighed on sentiment, compounding a May that already saw a record 10 consecutive days of net outflows from spot Bitcoin ETFs totalling $2.97 billion.
Derivatives data tell a more nuanced story: BTC open interest holds steady at $19.5 billion, funding rates are a modest 0–10% annualized, the three-month basis has nudged up to 2.8% from 2.2% last week, and put/call volume splits 61/39 in favour of calls — all pointing to stabilising rather than collapsing institutional risk appetite. The Binance liquidation heatmap flags $72,280 as the key level to watch on any further downside, with $282 million in 24-hour liquidations already recorded, led by ETH ($59M) and BTC ($48M).
The standout move belongs to Stellar's XLM, which surged 40.4% to $0.2862 after DTCC — Wall Street's central clearinghouse overseeing $114 trillion in assets — confirmed it will connect its tokenized securities platform to the Stellar network in H1 2027. Stellar becomes the first public blockchain in DTCC's multichain tokenization strategy, with production testing slated for July. Hyperliquid's HYPE also bucked the trend, hitting a record high of $73.94 on fresh ETF inflows.
Lookonchain
Benjamin Cowen
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