The cryptocurrency market is experiencing a surge, driven by a renewed interest in **Solana** following the filing of a **Solana spot ETF** application by **VanEck**. **Bitcoin**, **Ethereum**, and **Dogecoin** also saw gains, with **Bitcoin** reaching **$61,464.37** and **Ethereum** trading at **$3,449.60**. However, despite the positive momentum, traders are urging caution. **Ali Martinez**, a crypto chart analyst, warns of potential liquidations if **Bitcoin** drops below **$60,700**. **IntoTheBlock** data indicates a surge in large transaction volume, but a significant decline in exchange netflows raises concerns. Meanwhile, **BlackRock** has purchased **Bitcoin** for its **Global Allocation Fund**, marking the third internal fund to invest in **Bitcoin** through its **IBIT Bitcoin ETF**. This suggests a growing institutional interest in the cryptocurrency market. While the overall market sentiment is bullish, traders should remain vigilant and exercise caution due to the potential for volatility and liquidations.

Cryptocurrency markets are up ahead of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39534741/presidential-debate-goes-interactive-drinking-game-bingo-prediction-contest-for-2024-elect">Trump-Biden U.S. Presidential election debate</a>, with a <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39528468/vaneck-files-solana-etf-application-sol-rallies-6">Solana spot ETF</a> application as the main catalyst.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>$61,464.37</td>
<td>+1%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>$3,449.60&nbsp;&nbsp;</td>
<td>+2%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>$148.18&nbsp;</td>
<td>+8.5%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>$0.1244</td>
<td>+0.6%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>$0.0000175&nbsp;</td>
<td>+1.5%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data noted a 15.9% increase in large transaction volume. However, exchange netflows plunged by 196.5% in a single day.</li>
<li>Coinglass data noted 34,732 traders liquidated for $91.8 million in the past 24 hours. </li>
<li>Radar <a href="https://x.com/RadarHits/status/1806379104499011697">showed</a> that BlackRock purchased Bitcoin for its Global Allocation Fund based on SEC filing. This marks it as the third internal BlackRock fund that has purchased Bitcoin through its (NASDAQ:<a class="ticker" ...</li></ul><a href=https://www.benzinga.com/markets/cryptocurrency/24/06/39536438/bitcoin-ethereum-dogecoin-rally-vaneck-files-solana-etf-application-but-dont-get-too-excit alt=Bitcoin, Ethereum, Dogecoin Rally, VanEck Files Solana ETF Application, But... &#039;Don&#039;t Get Too Excited Yet,&#039; Warns Trader>Full story available on Benzinga.com</a>

Loading...Loading...Cryptocurrency markets are up ahead of the Trump-Biden U.S. Presidential election debate, with a Solana spot ETF application as the main catalyst.CryptocurrencyPriceGains +/-Bitcoin BTC/USD$61,464.37+1%Ethereum ETH/USD$3,449.60 +2%Solana SOL/USD$148.18 +8.5%Dogecoin DOGE/USD$0.1244+0.6%Shiba Inu SHIB/USD$0.0000175 +1.5%Notable Statistics:IntoTheBlock data noted a 15.9% increase in large transaction volume. However, exchange netflows plunged by 196.5% in a single day. Coinglass data noted 34,732 traders liquidated for $91.8 million in the past 24 hours. Radar showed that BlackRock purchased Bitcoin for its Global Allocation Fund based on SEC filing. This marks it as the third internal BlackRock fund that has purchased Bitcoin through its IBIT Bitcoin ETF.Notable Developments:Coinbase Sues SEC And FDIC Over Alleged Attempts To Stifle Crypto Industry CleanSpark Announces GRIID Infrastructure Takeover Deal: Digging Into The Details VanEck Files Solana ETF Application, SOL Rallies 6% China’s Crypto Mining Ban Was ‘Very Unwise,’ Says Hong Kong AcademicTop Gainers:CryptocurrencyPriceGains +/–Book Of Meme BOME/USD$0.01048 +15.6%Akash Network AKT/USD$3.33+11.9%Conflux CFX/USD$0.1745+11.9%Trader Notes: Crypto chart analyst Ali Martinez cautions investors, highlighting that if Bitcoin drops to $60,700 around $22 million will be liquidated. MaxBecauseBTC, in his latest Bitcoin analysis, noted that Bitcoin "divided by the M1 money supply has a tremendous amount of signal." The trader adds that price has broken out of every major HTF top & bottom range and has "just finished retesting the range high."The tweet concludes, "When price breaks out of a multi-year range, it’s not a small move that follows. Very bullish."What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19. Read Next: Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano…And Thinks Shiba Inu’s Time Has PassedImage: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Bitcoin, Ethereum, Dogecoin Rally, VanEck Files Solana ETF Application, But... 'Don't Get Too Excited Yet,' Warns Trader

Bitcoin, Ethereum, and Dogecoin Rally Amidst Solana ETF Buzz, but Should You Be Excited?

Bitcoin has struggled through 2026, plunging to half its October peak and **sparking fears of an imminent bitcoin collapse**. Now, analysts with JPMorgan have predicted bitcoin miners could be forced to sell more bitcoin, potentially exacerbating the downturn.

## JPMorgan's Bearish Outlook

Bitcoin mining economics have "worsened" this year, the bank’s researchers, led by Nikolaos Panigirtzoglou, said in a note. They estimate the current **production cost of bitcoin is about $78,000** per bitcoin—a 25% premium on bitcoin’s $64,000 current price. Publicly traded bitcoin miners sold more than **32,000 bitcoin worth over $2 billion** during Q1 2026 to fund operating expenses, topping their combined sales for all of last year.

“When bitcoin trades below its production cost, higher-cost miners power down, the hashrate declines, and difficulty adjusts lower,” JPMorgan analysts said. This pattern was evident in the second week of June, when difficulty fell 10%.

## Could Miner Capitulation Signal a Bottom?

However, some analysts see a silver lining. Newsletter author Lark Davis notes that if miners aren’t making money, many resort to selling bitcoin to pay the bills. Historically, this **miner capitulation often signals bitcoin’s cycle price bottoms**. While the Puell Multiple hasn’t quite signaled miner capitulation yet, it is showing miner distress, which could mark the beginning of the end of this bear market.

## Market Sentiment Remains Fearful

Bitcoin’s fear and greed index has been stuck in the **“extreme fear” zone** for months. Koinly CEO Robin Singh said, “Bitcoin is holding firm around the $65,000 level, but from here it could easily break in either direction.” The expected passage of the **Clarity Act** could provide a fundamental catalyst to push bitcoin back into the $70,000 range, but any move higher may prove short-lived given the broader bearish market.

![JPMorgan chart](https://imageio.forbes.com/specials-images/imageserve/6a37da286251f0d97d70be1e/bitcoin--bitcoin-price--bitcoin-crash--crypto--JPMorgan--chart/960x0.png?format=png&width=960)

Analysts with JPMorgan have predicted bitcoin miners could be forced to sell more bitcoin...

JPMorgan Warns Bitcoin Miners Could Trigger a Price Crash – Here's What You Need to Know

**Strategy’s bitcoin position has swelled to 846,842 BTC** after surviving a dramatic 2022 crypto market downturn that put its balance sheet and stock price under intense pressure. **Michael Saylor** said the company raised over $60 billion, added 716,000 BTC, and now holds reserves exceeding debt by about $48 billion.

## Key Takeaways
- Strategy emerged from crypto winter with sharply larger bitcoin reserves and renewed investor attention.
- Capital raises helped fund more than 716,000 BTC in additional corporate holdings.
- Saylor now frames bitcoin as digital capital supporting future financial infrastructure.

## From Bear Market Brink to Bitcoin Empire: Strategy’s 716,000 BTC Expansion Since 2022

On June 20, Strategy (Nasdaq: MSTR) Executive Chairman **Michael Saylor** revisited a speech delivered in 2022, highlighting how sharply market conditions deteriorated after that presentation. Conditions worsened significantly in the months that followed.

As **bitcoin sank below $16,000** and confidence across the crypto sector evaporated, Strategy found itself staring down one of the most difficult moments in its history. The company’s balance sheet came under intense scrutiny as the value of its bitcoin holdings plunged, MSTR shares tumbled into the $13 range, and critics questioned whether its aggressive bitcoin strategy could survive the prolonged market downturn.

> “When I gave this speech in October 2022, bitcoin traded near $20,000, Strategy held 130,000 BTC worth about $2.6 billion, and $MSTR was ~$24 split-adjusted,” Saylor reflected, adding: “Weeks later, after bitcoin fell below $16,000, our debt exceeded the combined value of our BTC and cash reserves by ~$300 million, and $MSTR fell into the $13 range by year-end.”

At the time of the October 2022 speech, the company was still operating under the name MicroStrategy, and its bitcoin accumulation strategy was already well underway. After beginning purchases in August 2020, MicroStrategy expanded its holdings through cash reserves, debt financing, and equity offerings. By October 2022, it had accumulated 130,000 BTC, making it the largest corporate bitcoin holder.

The company’s dashboard as of this writing shows **holdings of 846,842 BTC**, with BTC reserves valued at $53.83 billion. The dashboard lists $1.1 billion in U.S. dollar reserves, $6.75 billion in debt, and preferred equity of $15.48 billion, while MSTR traded at $112.53 with a market capitalization of $40.1 billion.

## The Comeback: From Bitcoin Winter to a $48 Billion Turnaround

Capital formation became a central element of the company’s subsequent expansion. **Saylor stated that Strategy raised more than $60 billion** of additional capital after the 2022 downturn and deployed those funds into further bitcoin acquisitions as part of its long-term corporate strategy.

Since the depths of the 2022 crypto winter, Strategy has amassed more than 716,000 BTC and dramatically expanded its bitcoin treasury. According to Saylor, the company has gone from a period when debt exceeded the value of its BTC and cash reserves to one where its bitcoin and U.S. dollar reserves surpass debt by roughly $48 billion.

> “We stayed focused, strengthened the company, and executed our strategy. Since then, Strategy has raised over $60 billion of additional capital and invested it in bitcoin, adding more than 716,000 BTC,” Saylor said, noting: “Today, our BTC and USD reserves exceed debt by ~$48 billion. Thank you to everyone who believed, endured, and took the long view.”

Beyond Strategy’s accumulation strategy, Saylor has recently expanded his public thesis on bitcoin’s role in global finance. He described bitcoin as **Digital Capital** and outlined a five-layer framework consisting of Digital Capital, Digital Credit, Digital Money, Digital Yield, and Digital Equity, arguing that financial products can be built around BTC without altering Bitcoin’s base protocol.

Saylor has also identified four competing Bitcoin ideologies—Bitcoin Maximalists, Bitcoin Capitalists, Bitcoin Technologists, and Bitcoin Fundamentalists. He characterized the groups as representing different priorities across monetary policy, adoption, technical development, and network governance, while maintaining that much of Bitcoin’s future growth will occur through financial and technological layers built on top of the network.

Strategy’s bitcoin position has swelled to 846,842 BTC after surviving a dramatic 2022 crypto market downturn that put its balance sheet and stock price

From Brink of Collapse to $48 Billion Surplus: Michael Saylor Reflects on Strategy's Bitcoin Comeback

The release of **Mythos**, an AI system designed to autonomously discover vulnerabilities in code, may do more than help blockchain developers find bugs. As **AI-powered security tools** become cheaper, faster and more widely available, researchers said they could reshape what the crypto industry considers reasonable due diligence before deploying code, potentially altering expectations for developers and institutions.

For years, smart contract security has been constrained by budgets. Comprehensive audits often are costly, making AI systems like Mythos dramatically cheaper. "It pushes the price of a basic audit toward zero," said **Alexander Urbelis**, chief information security officer at ENS Labs. Work that once required weeks and significant expense could eventually be completed in minutes, allowing projects that previously could not afford professional reviews to obtain fast security assessments.

For years, researchers have relied on automated tools known as **fuzzers** to hunt for software bugs. AI systems take a different approach. "It's a change in degree that could likely cause a change in kind," Urbelis said. "Machines have hunted bugs for years. But now we're talking about a fuzzer that has the capacity to reason."

Rather than simply identifying technical bugs, systems like Mythos could infer what code was intended to do and compare that against what it actually does. In crypto, where smart contract code is public and bug bounties can have big budgets, that capability could significantly expand the industry's ability to identify vulnerabilities before launch.

**David Schwed**, COO of blockchain security firm SVRN and founder of the cybersecurity master's program at Yeshiva University, described the shift as even more significant. "These models now operate the way a human attacker does," Schwed said. "They iterate, they take the next step based on what they're seeing in real time. The older tooling was just complicated deterministic flows."

But Schwed argued the bigger change may not be vulnerability discovery itself. It may be the emergence of **continuous security monitoring**. "The real shift is continuous auditing with suggested remediations at a fraction of the cost, instead of a point-in-time review you can only afford once," he said.

If security reviews become inexpensive and continuous, researchers said the industry's expectations could change alongside them. Urbelis said he believes AI could eventually reshape the **standard of care** around smart contract development. Historically, teams could point to the cost and complexity of audits as a reason certain reviews were not performed. That argument becomes more difficult when sophisticated security analysis is available on demand.

"A clean AI report will be seen as no defense," he said. "A plaintiff may well argue it the other way: the tool existed, it was cheap, and you should have caught it."

The prospect raises broader questions for the industry: if AI-powered security reviews become ubiquitous, will investors expect them before funding projects, and could failing to run AI-assisted audits eventually be viewed as **negligence**?

Despite the technology's promise, neither researcher said he believes AI is poised to replace human auditors. While machines excel at identifying coding flaws, Urbelis said they remain weaker at spotting the economic and incentive-based vulnerabilities that have contributed to some of crypto's largest losses. "The bugs that drain treasuries often turn on intent and adversarial incentives," he said. "Those still need an experienced human in the room."

Schwed offered a similar warning. "'Claude, audit my smart contract, make no mistakes' is not a security program," he said. "If the person running the tool can't evaluate what comes back, you haven't bought security, you've bought a false sense of it."

But whether a system like Mythos could have prevented major hacks, both researchers noted that many of crypto's most costly incidents did not originate from smart contract vulnerabilities. Urbelis pointed to the recent compromise of Drift, which he described as the culmination of a months-long **social engineering campaign** that targeted trusted contributors rather than the protocol's code. "The smart contract did exactly what it was told," he said. "The authority behind the instruction was what was compromised and abused."

Similarly, Schwed cited incidents such as Ronin and Bybit, where compromised keys and manipulated signing processes, rather than software vulnerabilities, played central roles. "No code scanner stops an authorized signer from approving a transaction they can't verify," he said.

That reality suggests AI will not eliminate crypto's security challenges. But the researchers argued it could fundamentally alter one part of the equation: the cost of finding bugs and the expectations surrounding their discovery.

As AI-powered security tools become cheaper, faster and more widely available, researchers said they could reshape what the crypto industry considers reasonable due diligence before deploying code, potentially altering expectations for developers and institutions. 

AI Is Revolutionizing Crypto Security: Cheaper, Faster, and Unavoidable

The long-standing alliance between two giants of the crypto payments segment — **XRP** and **Stellar (XLM)** — has been disrupted, with their synchronized price dynamics now a thing of the past. Since the end of May 2026, the assets have moved in opposite directions: **Stellar records major gains** while **XRP continues to decline**.

## The Battle for RWA

The sharp trend reversal was triggered by an official announcement from the **Depository Trust & Clearing Corporation (DTCC)** about plans to launch asset tokenization — including stocks, ETFs and U.S. Treasuries — on the **Stellar blockchain** in the first half of 2027. Data from RWA.xyz shows why Stellar has taken the lead:

- **Distributed Asset Value**: On Stellar, this figure reached **$2.83 billion** (up 21.62% in 30 days). By comparison, XRPL stands at **$360.32 million** (down 10.83%).
- **30-day RWA transfer volume**: On Stellar, this metric increased by **142.34% to $661.84 million**, while XRPL recorded only **$44.93 million**.
- **RWA investor base**: The number of RWA holders on Stellar rose by **44.75% to 17,803 addresses**, while XRPL has only **122 addresses**.

The market noticed these figures, driving **XLM up about 49.44%** since the end of May, while **XRP fell by 15.78%** over the same period.

![RWA Distribution](https://u.today/sites/default/files/inline-images/stellarxrprwa.jpg)

At the same time, XRPL maintains an advantage in **total stablecoin volume** ($922.42M vs $296.24M) and **30-day stablecoin transfer volume** ($5.11B vs $4.27B).

## What's Happening on the Charts?

The daily timeframe indicators reflect a deep technical gap between the two assets.

On the **XLM chart**, the price explosion at the end of May expanded the Bollinger Bands, broke above the upper band, and reached a peak near **$0.29**. The RSI fell to **57.64** after leaving overbought territory, pointing to market stabilization.

![XRP and XLM Chart](https://u.today/sites/default/files/inline-images/image_4489.png)

The **XRP chart** shows the opposite picture. In early June, the coin broke below the middle Bollinger Band, confirming the dominance of sellers. XRP is trading near **$1.13**, trapped between the middle line at **$1.1739** and the lower Bollinger Band at **$1.0526**. The RSI has fallen to **39.34**, approaching oversold territory.

## Can XRP Repeat XLM's Success?

The current narrowing of the Bollinger Bands on the XRP chart indicates that the asset is accumulating energy before a strong move. Two scenarios:

- **Bullish scenario**: If the price holds above **$1.10** and the lower band at **$1.0526**, it could create a base for a rebound. To repeat Stellar's success, buyers need to restore XRPL's RWA status, break through **$1.1739**, and consolidate above **$1.2953**, opening the way to **$1.45–$1.60**.
- **Bearish scenario**: If buyers fail and capital flows to Stellar, XRP risks dropping from **$1.13** to retest the lower band at **$1.0526**, with possible decline toward **$1.00**.

Stellar rides a $2.8 billion RWA wave while XRP gets stuck at $1.13, but tightening Bollinger Bands put the next breakout scenario in the spotlight.

Bitcoin, Ethereum, and Dogecoin Rally Amidst Solana ETF Buzz, but Should You Be Excited?

Summary:

Solana rallied after VanEck filed an application for a Solana spot ETF.

Bitcoin, Ethereum, and Dogecoin also experienced gains.

Traders are warning about potential liquidations if Bitcoin falls below $60,700.

BlackRock has added Bitcoin to its Global Allocation Fund, indicating increasing institutional interest in the cryptocurrency market.

Despite the positive momentum, traders advise caution due to market volatility and the possibility of liquidations.

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JPMorgan Warns Bitcoin Miners Could Trigger a Price Crash – Here's What You Need to Know

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Stellar (XLM) Soars 49% While XRP Stagnates: RWA Battle Heats Up

Other Latest News

JPMorgan Warns Bitcoin Miners Could Trigger a Price Crash – Here's What You Need to Know

From Brink of Collapse to $48 Billion Surplus: Michael Saylor Reflects on Strategy's Bitcoin Comeback

AI Is Revolutionizing Crypto Security: Cheaper, Faster, and Unavoidable

Stellar (XLM) Soars 49% While XRP Stagnates: RWA Battle Heats Up