Live updates: Bitcoin claws back some of the losses after Micron beats earnings
Battered crypto sector gets some relief after Micron beats earnings, bringing back some risk appetite to the market.
YayaNews contributes financial news and market context through the YayaNews editorial workflow.
Battered crypto sector gets some relief after Micron beats earnings, bringing back some risk appetite to the market.
Live updates: Bitcoin claws back some of the losses after Micron beats earnings
Micron gives late boost to crypto (Getty Images)
9:34 p.m., June 24
Krisztian Sandor
Share
Share this post
Copy link
X icon
X (Twitter)
Bitcoin rebounds to near $61,000 as Micron earnings spark late risk-on bounce
Bitcoin (BTC) price at 5 p.m. ET, Wednesday (CoinDesk)
After a bruising session, crypto is clawing back some losses as Micron's earnings beat helps steady risk sentiment.
Bitcoin (BTC) bounced roughly 3% from the session lows to near $61,000 late Wednesday, but was still some 2.9% lower over the past 24 hours. Ether (ETH) reclaimed the $1,600 level, though it remained down more than 3% on the day. Solana (SOL) pared losses to around 2%, changing hands near $67.
Crypto-linked stocks, which also nursed steep declines through the session, bounced modestly. Coinbase (COIN), Circle (CRCL) and Galaxy (GLXY) were up 2%-4% in after-hours trading.
8:10 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Micron Technology gains 8% after earnings beat, strong guidance
One of the leading beneficiaries in the AI mania, Micron Technology (MU), topped its fiscal third-quarter earnings estimates.
The company reported adjusted EPS of $25.11 versus expectations of $20.71. Revenue of $41.5 billion beat forecasts for $35.8 billion.
Perhaps more importantly, fourth-quarter revenue guidance came in at $50 billion versus estimates for $43.4 billion. Adjusted EPS is seen at $31 versus $24.30, with gross margins of 86% versus 83%.
The stock is higher by 7.9% in after-hours trading.
The news may, or may not be, helping bitcoin (BTC), which has risen to $60,500 in the past few minutes, though is still down 3% over the past 24 hours.
8:01 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Dave Portnoy's complaint draws response from early bitcoin investor
"I need all the bitcoin and crypto people who say it’s going to $1 million and how it’s the future to tell me why all the people who have always said it’s a scam and going to zero are wrong,"
wrote
Barstool Sports founder Dave Portnoy today as bitcoin plunged below $60,000.
"'Crypto' is going to zero. Bitcoin is going to 1M+,"
responded
Stike and XXI Capital CEO Jack Mallers.
Involved with Bitcoin since 2013, Mallers reminded Portnoy of numerous other existential events, such as Silk Road, Mt. Gox, supposed coming government bans, the onslaught of competing digital assets, and the implosion of FTX.
Mallers: "At the end of the day, my advice to you: the Bitcoin journey is a hero's journey. You kill your ego. You surrender the idea that you're the all-knower of the future, the main character, and important enough to matter to this thing."
7:28 p.m., June 24
Helene Braun
Share
Share this post
Copy link
X icon
X (Twitter)
Kalshi seeks new funding at $40 billion valuation, FT reports
Kalshi is seeking to raise fresh capital at a $40 billion valuation, up from the $22 billion valuation attached to its previous funding round, according to a Financial Times
report
citing people familiar with the matter.
The prediction markets platform could complete the fundraising as soon as the third quarter of this year. If successful, the round would further widen its lead over rival Polymarket, which was last reported to be fundraising at a $15 billion valuation.
Kalshi's previous backers include Coatue Management, Sequoia Capital, Andreessen Horowitz and Morgan Stanley. CEO Tarek Mansour recently said the company is considering an eventual IPO, though not before 2027.
5:52 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Bitcoin extends plunge down to $59,000
Already down big on the session even as U.S. stocks were on the rise, crypto prices are adding to losses in the afternoon as the Nasdaq swings from nearly a 1% gain to the current 0.4% loss.
Bitcoin (BTC) is now off by 5% to $59,300, with ether (ETH) down almost 6% to $1,555.
Growing panic over the fate of Strategy (MSTR), its high-yielding preferred stock STRC, and the nearly 850,000 of bitcoin backing the whole enterprise seems as good of a reason as any for unceasing selling.
MSTR (the company's common stock) is down 10.7% to $92.71, the weakest level since early 2024.
STRC fell as low as $79.91 minutes ago, and is now trading at $80.80, down 7.5% for the day. The stock currently pays an annualized dividend of 11.5%, but with the price about $80, a buyer would be getting an effective yield of more than 14%.
In the world of traditional finance, a yield that high (when the risk free rate is less than 4%) would suggest extreme levels of distress.
4:12 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Crypto extends losses in midday U.S. trading
Just after the noon hour on the East Coast, bitcoin (BTC) is barely hanging on above $60,000, down more than 3% over the past 24 hours. Ether (ETH), solana (SOL) and XRP (XRP) are down similar amounts.
The selling in crypto continues as investors — following a one-day slump —
return to
bidding up stock prices, particularly in the AI sector. The Nasdaq is ahead 0.8%.
The action in leading bitcoin treasury company Strategy (MSTR) and its high-yielding preferred stock STRC suggests some degree of panic setting in. The common stock — MSTR — has plunged another 7.3% on Wednesday to about a 2.5-year low of $96, down more than 75% year over year.
STRC — marketed by Michael Saylor and team as akin to a high-yield savings account — is down 6.35% to a record low below $82.
"Saylor promoted STRC to risk-averse retirees by assuring them that all the volatility had been stripped out,"
wrote Peter Schiff
minutes ago. "STRC is down over 5% today, more than 17% below what many retirees paid last month. Almost two years of dividends gone. Saylor clearly made material misrepresentations."
3:24 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Trump cancels housing bill signing
A planned Wednesday signing ceremony for the just-passed housing affordability act
was abruptly canceled
by President Trump minutes ago.
What's that have to do with crypto? Embedded in the housing bill was a ban on the Federal Reserve issuing a CBDC through at least 2030.
The president said he won't sign the housing bill until Congress passes the SAVE America Act.
3:08 p.m., June 24
James Van Straten
Share
Share this post
Copy link
X icon
X (Twitter)
Digital credit preferreds continue to slide as magnificent seven rebounds
Further pressure is building in digital credit preferred stocks with Strategy's (MSTR) STRC falling 3% to $85 and Strive's (ASST) SATA trading at $92, both significantly below their $100 par value. The weakness continues as bitcoin remains under pressure, slipping below $61,000.
In an interesting change, all of the Magnificent Seven stocks were higher on Wednesday after several weeks of weakness, helping lift the broader equity market. The S&P 500 and Nasdaq 100 both up nearly 1% as investors rotated back into large-cap technology names, despite some market nervousness ahead of Micron's earnings release after the close on Wednesday.
2:54 p.m., June 24
Helene Braun
Share
Share this post
Copy link
X icon
X (Twitter)
Former Anchorage Digital executive Joseph Medioli joins Morgan Stanley's digital asset team
Joseph Medioli, a former executive at crypto custody firm Anchorage Digital, has joined Morgan Stanley as executive director and deputy head of digital asset strategy, according to a LinkedIn post.
Medioli announced the move on Tuesday, saying he would work alongside Amy Oldenburg, Morgan Stanley's head of digital assets, as the bank continues to develop its approach to blockchain and digital asset markets.
"Digital Asset technology continues to evolve and reshape core aspects of the global financial system," Medioli wrote, adding that the technology is creating opportunities for greater market efficiency, wealth creation and access to new financial products.
The hire comes as major Wall Street firms deepen their involvement in digital assets. JPMorgan
recently hired
former Goldman Sachs crypto executive Oliver Harris to lead its blockchain division Kinexys.
Medioli spent four years at Anchorage Digital, a federally chartered crypto bank that provides custody, trading and staking services for institutional clients.
2:16 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Interest rates drop further after weak New Home Sales report
Backward-looking and often sizably adjusted after the fact, the government's monthly New Home Sales report is typically not a market mover.
The data, however, continues to paint a different picture than the one being espoused by the hawkish Fed under its new Chairman Kevin Warsh.
According
to the Census Bureau
, new home sales in May fell to an annualized pace of just 580,000 from 626,000 in April. Economist forecasts had been for a rise to 640,000.
One year ago, May home sales were 622,000.
Already falling today as gold tumbled below $4,000 per ounce and oil slid below $70 per barrel, interest rates ticked a bit lower following the home sales data.
The 10-year U.S. Treasury yield is lower by 8 basis points to 4.41%, the same level it was at prior to the Fed's surprisingly hawkish turn last week. The two-year yield is down five basis points to 4.15%.
What's it mean for crypto? That's hard to say, as nothing seems able to pull the sector out of its bear market. Should expected Fed rate hikes not come to pass, though, it could prove to be a tailwind for prices.
Bitcoin (BTC), for now, is at its session low of 61,100, down 2% over the past 24 hours. U.S. stocks are posting very small gains early in their trading day, the S&P 500 up 0.15%.
1:54 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Michael Saylor's Strategy slides below $100 for first time in more than two years
With bitcoin (BTC) pulling back another 1.5% to just above $61,000, Strategy (MSTR) has dropped nearly 4% in early trading on Wednesday, touching as low as $99.10.
It's the first time shares in the largest bitcoin treasury company haven't been in triple digits since February 2024.
MSTR is now lower by more than 36% year-to-date and 74% on a year-over-year basis. As Executive Chairman Michael Saylor often points out, though, the stock remains a multi-bagger since he began buying bitcoin for the company in August 2020.
1:20 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Bitcoin fades as gold tumbles below $4,000, oil falls back to $70
As has been typical, this morning's rip higher in crypto prices lasted for about five minutes before being aggressively sold.
Bitcoin (BTC) has fallen back to just under $62,000, now modestly lower over the past 24 hours.
The slide comes as gold has slid almost 4% today, now below $4,000 per ounce for the first time since November 2025.
The price of WTI crude oil, meanwhile, has dropped all the way back to $70.20 per barrel. Black gold hasn't been below $70 since March 1.
Stocks are set for a modestly higher open after yesterday's big losses, the Nasdaq 100 higher by 0.25%.
12:10 p.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
Bessent comments provide modest boost to markets
Appearing on CNBC, U.S. Treasury Secretary Scott Bessent said he was a fan of new Fed Chair Kevin Warsh's decision to scrap the central bank's forward guidance.
A former hedge funder, Bessent said he used to profit by trading against the Federal Reserve's so-called "dot plot" expectations of where the bank's members thought rates were headed.
The comments could suggest that Bessent isn't putting a lot of stock into the rate hike forecasts embedded in the Fed's surprisingly hawkish "dots" that were published alongside its rate decision last week.
Bessent also expects 3% or higher GDP growth this year, and, while he doesn't expect a lot of progress on the budget deficit in 2026, he thinks it could come down to less that 4% (as a percentage of GDP) by the end of President Trump's term.
Bitcoin (BTC) his risen about 1% alongside the Bessent remarks to $62,800. Nasdaq 100 futures have moved to session highs, up 0.7%. The 10-year Treasury yield has slipped three basis points to 4.46%.
11:56 a.m., June 24
Stephen Alpher
Share
Share this post
Copy link
X icon
X (Twitter)
That's another $30 billion that won't be going into crypto
South Korean memory chip giant SK Hynix
has filed to raise
nearly $30 billion by listing shares in the U.S., according to a Korean regulatory filing Wednesday.
In a similar fashion to U.S. memory chip maker Micron Technologies (MU), SK Hynix is a 10-bagger over the past year, with its market cap surging above the $1 trillion mark. The only other South Korean company with a market cap above $1 trillion is Samsung Electronics.
That $30 billion would place SK Hynix's capital raise on par with that of the 2019 Saudi Aramco U.S. IPO, which raised close to $26 billion.
For the crypto industry, it's yet another example showing investor interest and dollars being scooped up by the AI boom.
10:25 a.m., June 24
James Van Straten
Share
Share this post
Copy link
X icon
X (Twitter)
Debasement trade unwinds further as gold and silver near critical support levels
Gold and Silver (TradingView)
Metals continue to slide alongside bitcoin, as the debasement trade narrative that dominated markets in 2025 has largely faded in 2026, weighing on demand for traditional and alternative inflation hedges alike.
Gold and silver are both down more than 1% on Wednesday as they approach key support levels. Gold is trading just above $4,000 per ounce, down 6% year to date and 28% below its January record high. Meanwhile, silver is holding just above $60 per ounce, down 13% year to date and 50% below its January peak.
9:37 a.m., June 24
James Van Straten
Share
Share this post
Copy link
X icon
X (Twitter)
Micron set to report earnings after the close as investors gauge AI memory boom
Micron Technology (MU) is set to report fiscal third-quarter results after the market closes on Wednesday, with investors focused on whether booming AI-related memory demand can support the stock's massive 250% year-to-date rally.
According to AlphaStreet, Wall Street expects earnings of about $19.72 per share on revenue of $34.5 billion. Investors will be closely watching management's outlook for high-bandwidth memory demand, pricing trends and long-term customer commitments as they assess the durability of the AI spending boom.
Micron shares are up about 3% in premarket trading on Wednesday, recovering some ground after plunging as much as 13% in Tuesday's session.
8:26 a.m., June 24
James Van Straten
Share
Share this post
Copy link
X icon
X (Twitter)
BlackRock doubles down on bitcoin as a portfolio diversifier
Back in
December 2024
, the world's largest asset manager BlackRock said a 1% to 2% allocation to bitcoin could be a reasonable addition to a multi-asset portfolio for investors who believe in its long term adoption and can tolerate sharp price swings. The asset manager has since reinforced that view,
posting on X
on Tuesday, that bitcoin's role in portfolios is evolving and that a modest allocation could enhance return potential while maintaining an appropriate level of risk.
"Bitcoin’s role in portfolios is evolving, and it could be considered a complementary diversifier. We believe a modest allocation (typically ~1–2%) could impact return potential in a portfolio while maintaining appropriate risk tolerance"
8:02 a.m., June 24
Omkar Godbole
Share
Share this post
Copy link
X icon
X (Twitter)
Market outperformer HYPE gets its first implied volatility index
Volmex has launched
a 14-day implied volatility index tied to decentralized exchange Hyperliquid's native token HYPE.
The index tracks the expected price swings traders are pricing into HYPE's options over the next two weeks. It's the latest volatility product in the crypto market as traders seek new ways to hedge against not just price direction but also market turbulence.
Note that the implied volatility indices linked to BTC and ETH are generally inversely correlated to their spot prices.
HYPE has surged by 143% this year, fueled by the growing popularity of perpetuals tied to traditional assets such as equity indices and commodities. Meanwhile, the market leaders, bitcoin and ether, have declined by 28% and 43%, respectively.
7:08 a.m., June 24
Omkar Godbole
Share
Share this post
Copy link
X icon
X (Twitter)
BTC confirms a bear flag breakdown, currency markets signal classic risk-off trends
Bitcoin's (BTC) price chart is flashing a bearish signal amid risk-off cues from currency markets.
The leading cryptocurrency fell by over 2% Tuesday, confirming a bear flag breakdown, a sign that the counter-trend bounce from June 5 lows has ended and the broader decline could resume. This
pattern was flagged
by an analyst early this week, warning of a sell-off to $55,000.
In the meantime, the euro-yen pair (EUR/JPY) has fallen to its lowest level since May 6, declining a notable 1.44% over the past seven days. Similarly, the British pound and the Australian dollar, a key commodity currency, have been losing ground to the yen, while the U.S. dollar index has climbed to 101.57, its highest level since May 2025.
This is a classic risk-off signal. Investors are rotating into traditional safe-haven currencies such as the Japanese yen and the U.S. dollar, while selling higher-yielding or risk-sensitive currencies like the euro, pound, and Aussie dollar amid rising global uncertainty.
National fiat currencies draw their value from yields on local government bonds. Bitcoin has no such inherent yield generating mechanism. As a result, it stands to lose further ground if these risk-off trends intensify.
5:25 a.m., June 24
Nikhilesh De
Share
Share this post
Copy link
X icon
X (Twitter)
U.S. House sends housing bill with CBDC ban to Trump's desk
The U.S. House of Representatives passed the Senate's Road to Housing bill 358-32 on Tuesday night, sending it to U.S. President Donald Trump for his signature. Trump is expected to sign the bill at noon ET on Wednesday.
While the bill is largely focused on housing issues in the U.S., it has a 2-page provision
banning the Federal Reserve from issuing a central bank digital currency
for four years. Lawmakers have attached a similar CBDC ban in a number of bills, but this is the first time the provision is heading to the president's desk for a signature.
The Fed has repeatedly suggested that it would not issue a CBDC without an explicit direction from Congress directing it to do so.
5:13 a.m., June 24
Shaurya Malwa
Share
Share this post
Copy link
X icon
X (Twitter)
Wintermute sees bitcoin grinding toward $59,000 as summer liquidity dries up
Bitcoin and ether are grinding toward the lower end of their recent ranges, major market making firm Wintermute's OTC trading desk said in a Wednesday note shared with CoinDesk, with both assets caught between last week's hawkish Fed and the stop-start Iran headlines.
Options markets price a relatively tight move for the next 24 hours. Wintermute's one-day straddle, a measure of expected swing derived from options pricing, put bitcoin in a $61,242 to $63,563 range and ether between $1,606 and $1,694, implying moves of about 1.9% and 2.7% respectively.
The backdrop is deteriorating. Token correlations are rising, meaning assets are moving together rather than on their own fundamentals, while liquidity is thinning into the summer months with no fresh institutional bid visible in ETF flows.
Wintermute flagged $59,000 as the level to watch, calling it the bear market low and the key support if current pressure continues.
Three catalysts shape the rest of the week: the U.S.-Iran peace deal and whether it holds, Thursday's PCE inflation print, the Fed's preferred measure of price growth, and the quarterly options expiry at month-end, which can amplify moves as traders roll or close large positions.
Latest Crypto News
1
Asset management giant Invesco files for tokenized fund targeting stablecoin reserve market
6 hours ago
2
Coinbase's Base blockchain resumes after two-hour outage disrupted network
8 hours ago
3
Strategy's yield-generating STRC stock is more correlated with BTC than ever
9 hours ago
4
Kraken in talks to buy 15% stake in DeFi lender Aave at $385 million valuation
10 hours ago
5
a16z-backed crypto firm rebrands, shifts focus to solving AI’s global copyright headache
10 hours ago
6
BlackBerry is making a massive comeback as an 'uncrashable' software layer for AI and robotics
11 hours ago
7
Strategy has a 10-month cash runway for dividends, but retail investors are losing faith
11 hours ago
8
Quant fund says bitcoin is near a major inflection point as rare onchain signals align
12 hours ago
9
Bitcoin tumbles to new multi-year low of $58,000, but a short-squeeze setup emerges
12 hours ago
10
Crypto for Advisors: Bitcoin: planning for inheritance
12 hours ago
Latest Research
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By
CoinDesk Research
Jun 15, 2026
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters
:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
View Full Report
More From
Tech
Coinbase's Base blockchain resumes after two-hour outage disrupted network
Live markets: Bitcoin settles in under $60,000
Upheaval at the Ethereum Foundation has some of crypto’s biggest names feeling bullish
CD20
$1,572.38
CD20 down 3.93 percent
3.93%
BTC
$58,824.17
BTC down 3.26 percent
3.26%
ETH
$1,529.99
ETH down 5.38 percent
5.38%
XRP
$1.02
XRP down 4.82 percent
4.82%
SOL
$66.83
SOL down 1.13 percent
1.13%
Original YayaNews editorial coverage, published for informational purposes.
This article is sourced from CoinDesk. It is for informational purposes only and does not constitute investment advice.
Topics & Symbols
Continue Reading
Related Reading
Strategy’s $13 billion paper loss dwarfs dogecoin, BlackRock's BUIDL and hundreds of other tokens
Strategy’s paper loss exceeds the market caps of hundreds of tokens, highlighting the extreme concentration of risk in the crypto market right now.
Live markets: Bitcoin rebounds to nearly $60,000. Kospi, Nikkei sink
BTC sees a relief bounce as Asian stocks wilt following sharp losses on Wall Street.
Ether, XRP, DOGE price news: Majors lead a broad crypto selloff as tech stocks tumble
Bitcoin slipped near $58,000 before recovering, and CF Benchmarks says the $50,000 to $60,000 zone is where buyers have always stepped in.
Base Resumes Block Production After 2-Hour Outage
The Coinbase-backed blockchain Base returned online after two hours of downtime due to a consensus problem that prevented the creation of new blocks.
