SnapShot 264

Hello SnapShotters,

Bitcoin (BTC) retested its previous one-month low of about $59,300, as its TradFi market counterparts fell across the board. Concerns over an overstretched rally gave AI and chip stocks a reality check; from June 23 to 24, major indexes like the Nasdaq 100 and S&P 500 were seen shedding, and South Korea’s KOSPI plunged nearly 10%.

Commodities didn’t escape either; gold dropped close to $4,000 an ounce, while silver also lost on the day. WTI crude fell to around $70 a barrel as the U.S. dollar strengthened.

But the AI rout is only one of three reasons why BTC suffered a 5% intraday loss.

Let's look at the other headlines to know about.

Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price. 

Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

News Snaps

⚙️ Ethereum's Glamsterdam hard fork entered its final devnet phase. The upgrade is designed to support a 200 million gas-limit floor — more than tripling current L1 capacity.

🇯🇵 Japan's Nationwide Business Corporate Pension Fund plans to allocate 1% of its assets to a diversified cryptocurrency fund.

🇺🇸 A proposed 21st Century ROAD to Housing Act and new rules under the GENIUS Act may introduce new privacy lines for stablecoins.

🏦 Franklin Templeton filed for two ETFs that automatically reinvest stock dividends into BTC.

🇳🇱 The Litecoin Summit took place outside the U.S. for the first time in Amsterdam, coinciding with Dutch Blockchain Week where MiCA compliance was a featured theme.

📅 What’s Ahead: The EU's MiCA final transition deadline arrives on July 1. Crypto exchanges and service providers are required to hold a MiCA license to continue serving European customers.

⚽ We’re in the last legs of the FIFA World Cup 2026 group-stage fixtures. Which nations will qualify for the knockout stages?

Chart of the Week

Bitcoin's Yield Trade Gets a Stress Test

The chart tracks Strategy's STRC and Strive's SATA preferred shares against BTC, and the divergence is striking.

As BTC spent much of the past month stabilizing around the mid-$60,000s, both yield-focused securities abruptly broke below their intended $100 par value, with STRC suffering the sharper decline.

What does the selloff say about the sustainability of Bitcoin’s "digital credit" market?

Read the details in this market update

As of June 18, 2026

Sources: Investing.com, Crypto.com Research

Crypto Trivia

The total lifetime supply of BTC is known to be capped at 21,000,000 tokens. However, due to a quirk in the code's halving schedule and how computer processors handle math, it’s mathematically impossible for the network to ever reach that exact number.

What’s the actual maximum number of BTC that can ever mathematically exist in circulation?

A) 21,000,004.12 BTC
B) 20,999,999.97 BTC
C) 19,999,999.00 BTC

Find the correct answer at the end of this newsletter.

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Security Tips

Fake "zksync.jp" Token Tied to Fentanyl-Linked Fraud Network

A Nikkei investigation uncovered a Japan-based operation — run by a Chinese syndicate with ties to fentanyl trafficking — that created a counterfeit token mimicking the zkSync protocol to lure unsuspecting buyers on lesser-known exchanges.

Read the investigation and learn what to watch for before buying unfamiliar tokens

Crypto Trivia Answer

B) 20,999,999.97 BTC ✅

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.