OVERVIEW

This Hurts Worse Than A Compound Fracture You Have To Look At 🤕

Here’s What’s Happening 👇️

Today’s top trending tickers: $XRP ( ▼ 3.48% ) , $ETH ( ▼ 2.07% ) , $BTC ( ▼ 2.12% ) , $AMP ( ▼ 1.82% ) , and $HYPE ( ▼ 4.74% )

TECHNICAL ANALYSIS
The Good, The Bad, & The Ugly 🤠

Depending on what you have in your watchlist/portfolio, you’ll probably see a good many of the tickers are down big, some fairly flat, and rare few who are pulling in a win.

But for the most part, things look very, very beat up. Like Apollo Creed VS. Ivan Drago beat up.

The Good

Hyperliquid

Before you send a hate e-mail, I am very aware that I drew a double top on the chart. That doesn’t mean $HYPE ( ▼ 4.74% ) isn’t in the good category. HYPE is one of the only high market cap crypto tickers that is seeing inflows and a lot of interest despite the June slaughter.

The blue circle is where the Tenkan-Sen and Kijun-Sen are parked: right on top of one another. That’s a substantial medium-term support zone.

And if you are worried about the Composite Index and Detrended Price Oscillator, well that’s good to be worried, because if the rest of the market is bleeding and this guy is still doing ok, it’s very probable that traders over the long weekend might want to take some off the table.

However, similar oscillator conditions have occured going all the way back to March, along with multiple tops, and all HYPE did was consolidate. So keep that in mind.

The Bad

There’s really not a lot of major tickers that fit into the ‘bad’ category. Most of them look ugly to very fugly. Maybe ‘Bad’ should be replaced with ‘hopeful looking-ish’?

NEAR Protocol

While everything else is > -6% or more down, $NEAR ( ▼ 1.07% ) has been oscillating between +0.2% and -0.12% (at least as of 1530 EST). Now, the technical structure just screams bearish continuation because of the bear flag. But to a lesser degree, NEAR is similar to HYPE in that there’s been broad interest and it’s been appreciating against most of the crypto market lately.

They key thing to watch is if NEAR can crawl back above the daily Kijun-Sen ($2.448). If it can, then this looks morel like a bearish fakeout. But if NEAR makes a daily close at or below $1.96, well, then that looks very much like a continuation move lower.

The Ugly

This is the easy part. I mean there’s no shortage of crypto charts that look like result of what happens when a friend giving you a gas station chili dog. Also, that person isn’t a friend.

Avalanche

Not a lot to write here for $AVAX ( ▼ 5.88% ) . It’s ugly because it’s on it’s way for it’s lowest daily close ever. 

XRP

Hold off on the hate messages and emails, $XRP ( ▼ 3.48% ) does look ugly, but it’s a great placeholder for the majority of the crypto market. Looks very much like a bearish continuation move after failing to hold above the Kijun-Sen and Tenkan-Sen. And the big scary warning of lower moves is the Detrended Price Oscillator, if that trips below zero and the Composite Index closes below its moving averages. Look out below.

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NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🤖 AlchemyPay Launches Crypto Payment Card With One Notable Feature Missing: Crypto

$ACH ( ▼ 3.6% ) ’s AgentCard lets AI agents spin up one-time $V ( ▼ 0.95% ) cards with spending limits, pitched for API bills, $DASH ( ▲ 4.71% ) runs, and round-the-clock punting on Polymarket. It product runs entirely on traditional Visa rails, with crypto support filed under "coming soon."

⚡ Bitcoin Miner Successfully Pivots To Selling Picks And Shovels For The Other Gold Rush

$HIVE ( ▲ 7.31% ) locked a three-year, $220 million sovereign-AI contract to run 2,304 $NVDA ( ▲ 2.95% ) Blackwell GPUs for Bell and Cohere, expecting to add roughly $70 million in annual recurring revenue on top of its current $35 million. Real contract, real chips, real Canadian enterprise customers, funded partly by April's convertible note.

⚰️ Tether Buries Product Owned Almost Entirely By One Wallet

$USDT ( ▼ 0.12% ) is winding down Alloy and its gold-backed $AUSDT ( ▼ 0.01% ) . Cause? Not enough intrest. Here are some insights: $50 million market cap, 76 total holders, and a single wallet sitting on 97% of the supply. Holders have three months to grab their gold and leave.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

🎟️ SEC May Let You Buy A Stock-Flavored Token That Isn't Legally A Stock

Atkins is lining up an "innovation exemption" to let crypto firms offer tokenized US equities, trade them around the clock, and run execution plus clearing without the broker-dealer rulebook. The market's already at $6.4 billion.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🎰 Crypto Finds Its Killer App: Losing Your Bitcoin At A Las Vegas Sportsbook, Legally This Time

Byte Federal and BurraPay pulled off the first legal crypto-funded sports wager in Nevada, letting patrons at Circa fund bets with Bitcoin, Ethereum, or - yes, still - Litecoin. The compliance and regulator-cooperation work that happened is dragging billions in offshore wagering back onshore where it can be taxed and watched.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending News 🏦

🔁 Wall Street's Plumbing Goes On-chain. Again

HIFI, DRW, and Marex ran an actual repo trade on $CC ( ▼ 1.63% ) - T-bills against cash, RFQ pricing on Tradeweb, a prime broker in the middle, both settling atomically with funding live in seconds. That’s good news for 24/7 dollar funding and institutions stuck in time zones where US markets sit closed half the day.

💳 New Neobank Offers 10% Yield, 4% Cashback, And No Explanation Of Where Any Of It Comes From

$XPL ( ▼ 13.96% ) built its own L1 and a Tether-Bitfinex-backed app promising zero-fee USDT, a Visa card with up to 4% cashback, and north of 10% yield from unspecified ecosystem opportunities. It's "a financial technology company rather than a regulated bank," which feels kind of… well it feels off.

OLD NEWS
Crypto Stuff That Happened Today, But A Long Time Ago 📜

Here’s what was happening in the newsletter a year ago today:

• A kind of on-chain 101 using the 5-year MVRV and the 3-to-5-year HODL wave to spot when coins are cheap or when old hands are unloading on you.

• XRP got the caution flag - closer to the pricey zone while the OG holder base kept thinning.

• The other big story was stablecoin regulation - the Senate passed the GENIUS Act 68-30, giving stablecoins an actual federal framework and making a 2025 bill look close to inevitable.

Here’s what was happening in the newsletter two years ago today:

• The headline was simple - if it wasn’t BTC or ETH, it probably looked hideous.

• ADA, INJ, APT, and RUNE were all used as crime-scene exhibits - basically examples of how ugly the altcoin market had gotten.

• The market was hanging on key support - total market cap was trying to hold around $2.24T, while the altcoin market cap was flirting with losing the $1T level.

• The mood was straight-up pain - not nuanced pain, either. Just broad, ugly altcoin pain.

OLD NEWS
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛️

June 18

• 618 - Li Yuan launched the Tang dynasty, becoming Emperor Gaozu and kicking off one of China’s great imperial eras

• 1178 - Canterbury monks said the Moon looked like it exploded, though the famous crater theory is disputed

• 1429 - Joan of Arc helped France crush England at Patay

• 1684 - England revoked Massachusetts Bay’s charter, tightening royal control over the colony

• 1757 - Frederick the Great lost at Kolín

• 1778 - British troops abandoned Philadelphia, ending their occupation of the former American capital

• 1812 - The U.S. declared war on Britain

• 1815 - Napoleon lost at Waterloo

• 1873 - Susan B. Anthony was fined for voting

• 1928 - Amelia Earhart became the first woman to cross the Atlantic by plane

• 1940 - Churchill gave “Their Finest Hour,” rallying Britain after France started collapsing under Nazi Germany

• 1953 - Egypt abolished its monarchy and became a republic

• 1983 - Sally Ride became the first American woman in space

• 2007 - The Charleston Sofa Super Store fire killed 9 firefighters

• 2023 - OceanGate’s Titan submersible imploded near the Titanic,

Get In Touch 📬

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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋