financeSaturday, June 27, 2026
Crypto markets took a fresh hit today as a broader tech rout pulled risk assets lower. Bitcoin hit a two-year low, ETH whale profitability turned negative for the first time since 2019, and major altcoins sold off. The macro pressure is testing conviction across the board.
The macro tide is pulling everything down, and crypto is no exception.
Ether, XRP, and dogecoin led a broad crypto selloff as tech stocks tumbled, with Ether dropping 5.6% to ~$1,555 and Bitcoin dipping near $58,000. CF Benchmarks notes the $50,000-$60,000 zone is where buyers have historically stepped in.
Bitcoin hit its lowest level since October 2024, a two-year low, despite a surge in other speculative assets. The article cites macroeconomic pressures, regulatory uncertainty, and waning investor confidence.
Old Ethereum wallets from 2017 have reactivated, moving 37,806 ETH into the market as Ether trades around $1,500. Long-term ETH whale profitability has fallen below zero for the first time since 2019, signaling a historic shift in holder conviction.
Amid the selloff, a few companies are making strategic moves that look past the current price action.
SBI Holdings is acquiring Bitbank for ~$300 million, combining it with SBI VC Trade to potentially create Japan's largest crypto exchange by custody assets. The deal is subject to regulatory review.
StablecoinX, a stablecoin infrastructure company focused on the Ethena ecosystem, will list on Nasdaq after merging with SPAC TLGY Acquisition Corp. It's the first publicly traded stablecoin infrastructure company dedicated to Ethena.
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