Despite repeated attempts to stamp out the crypto-crime-linked Huione, Chainalysis says there’s been no meaningful decline in transactions.

Huione darknet humming at ‘full capacity’ despite shutdown

Trump Media is unleashing a groundbreaking bitcoin treasury arsenal with SEC 
clearance, fueling an aggressive multi-billion-dollar expansion across 
fintech, media, and decentralized finance dominance. Trump Media’s Bitcoin 
Treasury Deal Turns Real as SEC Declares Filing Effective Trump Media and 
Technology Group Corp. (Nasdaq, NYSE Texas: DJT) announced June 13 that the 
U.S. Securities and Exchange […]

Trump Media Announces SEC Declares Bitcoin Treasury Filing Effective

Bitcoin&#8217;s market price has experienced renewed downward pressure, falling to 
just under $106,000 in the last 24 hours. This marks a 1.8% dip over the past 
day and places the asset approximately 6% below its all-time high of over 
$111,000 reached last month. While the correction is not severe compared to 
historical volatility, it highlights ongoing uncertainty in the market as BTC 
consolidates near record highs without sustained upward momentum. One metric 
drawing attention amid this price movement is the Puell Multiple, a tool used 
to evaluate whether Bitcoin is overvalued or undervalued relative to miner 
income. Related Reading: Bitcoin’s Most Reliable Signal Just Flashed—Next 
Stop: $170,000 Bitcoin Puell Multiple Suggests Miner Revenues Have Yet to 
Catch Up CryptoQuant analyst Gaah highlighted that while prices recently 
surged above $108,000, the Puell Multiple remains below 1.40, a level 
typically associated with discounted or non-euphoric market phases. This 
decoupling between BTC price and miner revenue offers insight into how recent 
gains may be more demand-driven than organically supported by on-chain mining 
fundamentals. The Puell Multiple measures the daily issuance of BTC in USD 
terms relative to its 365-day moving average. Historically, readings below 1.0 
are seen during market bottoms or accumulation phases, indicating 
undervaluation. Gaah points out that current readings hovering around 1.40 
suggest miner profitability is still lagging, even as the asset trades near 
historic highs. This pattern contrasts with previous bull cycles where high 
prices were often accompanied by elevated miner earnings, driven by both 
network activity and block rewards. This disparity may be due in part to the 
April 2024 Bitcoin halving event, which reduced block rewards from 6.25 BTC to 
3.125 BTC per block. While halving events typically drive price appreciation 
through reduced supply, they simultaneously put downward pressure on miner 
revenue. In this case, despite a climb in market price, the halving’s impact 
continues to suppress income for miners, implying that the price increase has 
not yet been accompanied by the kind of broader economic expansion that would 
traditionally drive a full-fledged bull market. Potential for Continued Growth 
as Institutional Forces Drive Demand Gaah also points to the possibility that 
external factors may be playing a more dominant role in driving recent price 
action. These include increasing institutional inflows through spot Bitcoin 
ETFs, as well as a tighter circulating supply as long-term holders reduce 
active selling. These forces could be supporting price without necessarily 
boosting miner profitability in the short term, especially if the uptick is 
concentrated in secondary market demand rather than new BTC issuance. The 
current environment may signal a unique window for participants analyzing 
Bitcoin&#8217;s valuation. A high market price combined with conservative 
fundamentals suggests the market is not yet in a speculative excess phase. 
Related Reading: Bitcoin Bears Back In Control After $110,000 Rejection, What 
Comes Next? If miner revenues eventually rise in line with growing demand, 
driven by either increased transaction fees or broader network usage, it could 
support further upside. As such, both technical and fundamental indicators may 
continue to evolve in the coming months, offering a clearer view of whether 
the current cycle has more room to run. Featured image created with DALL-E, 
Chart from TradingView

A Rare Bitcoin Signal Is Flashing: Could the Bull Run Just Be Getting Started?

ETF analyst James Seyffart said all of the updated S-1 filings &#8220;include 
staking language I believe.&#8221;

7 Solana ETF hopefuls file S-1s, but more ‘back and forth’ with SEC ahead

Ripple and the SEC have reignited efforts to end their dispute over XRP, 
aiming to dissolve the final injunction, unlock $125 million, and cement a 
long-awaited settlement. Ripple and SEC Push Court to Finalize XRP Case, 
Dissolve Final Injunction and Free Escrowed Funds The U.S. Securities and 
Exchange Commission (SEC) and Ripple Labs Inc. jointly […]

Ripple and SEC Renew Efforts to Resolve Long-Running XRP Lawsuit

Fidelity Investments is officially seeking the green light to launch an 
exchange-traded fund (ETF) that would hold solana ( SOL) directly. S-1 in 
Play: Fidelity Takes Aim at Solana With ETF Proposal On June 13, 2025, the 
firm submitted its S-1 registration statement to the U.S. Securities and 
Exchange Commission (SEC). The proposed “Fidelity Solana […]