FTX lawyers argued that creditors should not serve as a “backstop” for Three Arrows Capital’s risky leveraged strategy.

FTX rejects 3AC’s $1.5B claim, citing ‘failed trading strategy’

Bitcoin briefly slid to $98,974 late on Sunday after US airstrikes targeted 
Iranian nuclear facilities. That was its weakest point since early May. But by 
Monday morning in Asia, the leading cryptocurrency topped $101,000 again. 
Traders are weighing whether this was just a hiccup or the start of a fresh 
trend. Related Reading: Stablecoin Wars Ignite: Peter Schiff Champions Gold- 
Backed Digital Assets Source: CoinMarketCap Arthur Hayes Sees Temporary 
Weakness According to Arthur Hayes, co-founder of BitMEX, the fall is only a 
short pause. On X, he wrote that “weakness shall pass” and predicted Bitcoin 
will “leave no doubt as to its safe haven status.” He said fresh money 
printing by central banks will be the main force driving prices back up. His 
view suggests that big dips can turn into buying chances when broader 
liquidity is rising. Do you hear that? … it’s the sound of the money printers 
revving up to do their patriotic duty. This weakness shall pass and $BTC will 
leave no doubt as to its safe haven status. pic.twitter.com/PTfZaAXFp7 — 
Arthur Hayes (@CryptoHayes) June 22, 2025 Market Dips On Geopolitical News 
Based on reports, it was US strikes on Iran that triggered the initial slide. 
The price drop happened late Sunday, pushing Bitcoin below six figures for the 
first time since early May. Yet buyers stepped in quickly, snapping up coins 
and lifting the price back above $101,000 during the first hours of trading in 
Asia. That pattern shows how headline shocks can spark fast moves, but also 
how quickly sentiment can flip. Altcoins Take A Hit Meanwhile, over the past 
12 hours, most altcoins fell about 1.4%, dragging total crypto market cap down 
by roughly $50 billion to $3.20 trillion, according to data. Experts expect 
that trend to reverse once major headlines calm down. Market analysts pointed 
out that altcoins might start to outperform if macro risks ease. They said 
smaller tokens are already showing signs of strength, even as Bitcoin stalls. 
Key Technical Levels Hold Traders are watching two key lines: the short-term 
realized price at $98,000 and the trend support at $102,000. The realized 
price reflects the average breakeven point for holders, so it often acts like 
a floor. Related Reading: Pump.fun’s Big Launch Put On Ice Over Legal Drama 
The $102,000 has capped rallies over the past weeks. As long as Bitcoin stays 
in that $98,000–$102,000 range, there are chances for quick rallies. But a 
break below $98,000 could force more focus on cutting losses. Featured image 
from Imagen, chart from TradingView

Bitcoin Down But Not Out—Analyst Sees Recovery Ahead Amid Middle East War

Crypto speculators may offset some of their altcoin losses by investing in 
Bitcoin or BTC treasury firms, according to Hashcash inventor Adam Back.

Bitcoin treasury adoption is new altseason for crypto speculators: Adam Back

Recent price movements, which have seen the top cryptocurrency drop despite 
tangible positive market action amid the current geopolitical headwinds, have 
given rise to allegations regarding the presence of paper bitcoin in the 
market. Paper Bitcoin Allegations Surge Again as Price Falls The concept of 
paper bitcoin, which encompasses the existence of bitcoin held by […]

Paper Bitcoin Conspiracy Allegations Surge: The Bitcoin Treasury Companies Problem

Bitcoin’s recent pullback hasn’t shaken market sentiment, and industry veteran 
Arthur Hayes is confident in the asset’s long-term strength. In a June 22 X 
post, BitMex co-founder Arthur Hayes offered an optimistic take on Bitcoin’s 
(BTC) outlook, hinting at renewed…

“This weakness will pass:” Arthur Hayes on BTC’s slide under $100k

Hong Kong to start issuing first stablecoin licenses within months, with 
companies like Ant Group and JD.com already in line. In a recent interview 
with China Daily, Hong Kong Financial Secretary Paul Chan Mo-po revealed that 
regulators have received &#8220;a…