Live updates from the crypto market show bitcoin rising above $65,000 as oil tumbles on Iran war cooldown, while ether leads altcoins higher.
Oil Plunges 6% as Iran War Cools
President Trump is giving diplomacy "some space," said Mike Waltz, D.C.'s ambassador to the United Nations on Sunday. WTI crude oil is down nearly 7% to $83.14 per barrel, and Brent crude is down similarly. In turn, U.S. stock index futures are on the rise, led by the Nasdaq 100's 1.35% gain. Interest rates have ticked lower by a couple of basis points. Bitcoin is higher by 1.1% to $65,150, with ether (ETH) and solana (SOL) both outperforming, up closer to 2%-3%.
Ether Leads Crypto Higher as Bitcoin Holds as the Market's Defensive Anchor
CoinEx's Jeff Ko sees bitcoin staying range-bound near $65,000 while retreating oil, a 4.7% 10-year yield and a week of mega-cap earnings set the tone. The bigger swing factor is corporate: Apple, Microsoft, Meta and Amazon all report this week, and Ko said their free cash flow and AI-spending guidance could move Treasury yields and the Nasdaq, indirectly shaping the liquidity that flows into crypto. Ko added that the composition of ETF flows will matter as much as the headline numbers.
Ether-Bitcoin Ratio Hits Three-Month High
The ether-bitcoin ratio has risen to 0.03, the highest since late April, according to TradingView. The pair is hovering above its 200-day simple moving average for the first time since January and has gained over 20% since the sell-off ran out of steam on June 6. This sustained ether outperformance could be a sign of an impending altcoin boom. However, as of this writing, BTC remains the most dominant token, accounting for 59% of the total crypto market.
Strategy Raises Cash, Buys Back STRC Stock
Strategy (MSTR) last week boosted its so-called USD Reserve by $525 million to $3.75 billion. The company raised $544.5 million via sales of more than 5.4 million shares of common stock. A small portion of that fresh money — $25 million — was used to repurchase 288,930 shares of its high-yielding STRC preferred stock. The company made no changes to bitcoin holdings, which remain at 843,755 coins. MSTR is higher by 2.8% pre-market alongside a small rise in the price of bitcoin over the weekend. STRC is up 2.45%.
Saylor: Intend to Continue Buying STRC Under $100
Strategy Executive Chairman Michael Saylor commented on this morning's disclosure that his company repurchased $25 million worth of its preferred stock STRC last week. "We intend to remain a regular, disciplined buyer of STRC below $100," said Saylor. "More at deeper discounts, less as STRC nears $100. Another $975M remains available for our prefs." MSTR is up 6.1% early Monday and STRC is up 2.3% to $88.90.
Tom Lee's Bitmine Immersion Added Nearly 10,000 ETH Tokens Last Week
Bitmine Immersion (BMNR) added 9,946 of ether (ETH) tokens last week, bringing total holdings to 5,787,414 tokens. The company also repurchased more common stock. "We increased our equity buyback as we view the rising ETH/BTC ratio, despite the falling odds of passage of the Clarity Act in 2026, as a sign crypto prices are strengthening," said Chairman Tom Lee. BMNR is higher by 4.9% pre-market as ETH has risen about 3% over the past 24 hours.
Strive's Bitcoin Holdings Rise to 20,000
Bitcoin treasury company Strive (ASST) disclosed the purchase of 79 bitcoin last week, bringing total holdings to 20,000. The company also added 808 shares of Strategy's STRC, bringing holdings of that preferred stock to 43,879 shares.
Over $1 Million in Stablecoins Drained in Separate WEMIX and Garden Finance Incidents
Layer-1 blockchain WEMIX and decentralized finance protocol Garden Finance paused services after separate security incidents on Sunday moved at least $1.17 million in stablecoins. An attacker compromised ownership of a WEMIX$-related contract and issued about 5.23 million tokens without authorization. Separately, Blockaid said about $450,000 in USDT was drained from Garden Finance's hash time-locked contracts across Ethereum, Base, Arbitrum and BNB Chain. Garden said its contracts were not compromised and attributed the incident to a breach of an independent solver's off-chain database.
SpaceX Stock Falls, Market Prices AI Business at Zero
SpaceX has more than round-tripped its entire post-IPO run. The stock priced at $135 in mid-June, spiked to $225 in its first week, and now trades near $115. Morgan Stanley analyst Adam Jonas said that if it slides to $100, investors would effectively be assigning zero or negative value to the company's AI business. He kept a $300 target. The company holds $1.2 billion worth of bitcoin as on Monday prices.
China's Gold Imports Continue to Surge
China's purchases of gold increased for the third straight month in June, tallying approximately 173 tonnes, the highest since March 2024. Retail investors are also steadily accumulating gold through small, incremental purchases via bank-led savings plans. China has a strict ban on trading and mining of cryptocurrencies and stablecoins to prevent capital flight and financial fraud.
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