US spot Bitcoin ETFs recorded a net inflow of $85.9 million on June 13, data from Farside Investors shows, led by BlackRock's IBIT with $57.7 million. Spot Ethereum ETFs posted a net outflow of $4.9 million, with ETHA reporting a $4.5 million outflow.

Galaxy Digital research cited by Cointelegraph says Bitcoin's cycle lows may form at higher price levels than in past bear markets as speculative activity cools. The report flags a potential bottoming zone between $62,000 and Bitcoin's actual price of $53,600. Alex Thorn, Galaxy's research director, reviewed major peaks and troughs across Bitcoin's history and said the four-year cycle remains closely aligned with the asset's long-term price pattern. The study also finds peak-to-trough drawdowns have progressively compressed, easing from early declines of 85% and 84% to 77% in 2022 and 51% in 2026.

Galaxy Research said in a June 13 report that the latest Bitcoin cycle peak did not display the usual speculative excess, suggesting the eventual low may be less severe than in past bear markets. The firm sees a potential bottoming area between $62,000 and the network's realized price of $53,600. Alex Thorn, Galaxy's head of research, reviewed historical cycle tops and bottoms and said Bitcoin's four-year rhythm continues to track long-established timing patterns. He noted that peak-to-trough drawdowns have narrowed over time: the earliest cycles fell 85% and 84%, the 2022 cycle dropped 77%, and the 2026 cycle is down 51%. Thorn argued that the October 2025 peak looked notably different from prior cycle tops. Only two of 11 commonly used top signals were triggered, and the closely watched Pi Cycle Top indicator failed to flash for the first time. Bitcoin's MVRV ratio peaked at 2.29, below the 2.93 to 5.91 range seen at previous cycle highs. The report said several key bottoming signals have not yet appeared. Only four of 13 bottom indicators have triggered so far, and most of the stronger signals remain absent. Historically, cycle lows formed roughly 12 to 13 months after a peak; the current drawdown has lasted about eight months. Using the current realized cost basis of $53,600, Galaxy's base-case estimate places the bottom in a $40,000 to $46,000 range. A deeper 'washout' scenario points to $30,000 to $37,000, while a shallower decline could keep Bitcoin near $51,000 to $54,000. CryptoQuant data shows BTC is trading in valuation zones historically associated with major bear-market lows. Bitcoin was recently near $59,000, about 9% above the $53,600 realized price. On the demand side, CryptoQuant reported that combined speculative futures demand and apparent spot demand fell by 652,000 BTC over the past week, the largest weekly drop since January 2022. The firm's one-year demand indicator has also turned negative, indicating fewer BTC buyers than a year ago.

AiCoin data show notable fund activity at Bitfinex. Over the past 24 hours, around 1,817 BTC worth $182 million moved into the exchange's wallet, lifting its current BTC wallet balance to 415,300 BTC. For more exchange flow data, visit AiCoin's website under Data – Hyperliquid.

Bitcoin Core developers have disclosed a privacy bug that can expose a node operator's public IP address under certain conditions when using the optional privatebroadcast feature introduced in Bitcoin Core 31.0. The issue was flagged on June 6 and publicly detailed in an advisory posted by the project on June 11, 2026, with a fix slated for release in version 31.1. According to the project, the flaw is limited to privatebroadcast, a tool added in April 2026 with v31.0 to route messages through the Tor anonymity network so the receiving peer cannot determine where the message originated. The problem arises during an attempted encrypted connection using BIP324 v2. If that handshake fails, the client may automatically retry using the legacy v1 protocol. In that fallback path, the Tor proxy can be dropped, allowing the receiving node to record the sender's real IP address and infer an approximate location. Developers warned the behavior could be triggered deliberately. A malicious peer could reject the initial encrypted handshake to force a plaintext reconnection, increasing the risk of linking identities because Bitcoin's transaction ledger is public. If an attacker associates a transaction with a specific IP address, they may be able to infer the owner of the funds. The team said the issue does not affect the broader payment network for typical users. Standard wallet usage remains unaffected because it does not rely on the privatebroadcast feature. Researcher Eugene Siegel was credited for responsibly reporting the bug. Until v31.1 is released, node operators who enabled the feature are advised to disable the privatebroadcast parameter or configure their setup so all outbound traffic is forced through Tor. Markets showed little reaction to the disclosure. Bitcoin traded around $63,700 after the advisory circulated, with only minor changes in daily volume. Analysts noted the main impact is reputational, sharpening scrutiny of privacy-related networking features amid ongoing debates about governance and data relay mechanisms in the core software. The next key milestone is the official release of the patched update.

MINING ALERT: Bitcoin is heading for what would be the 11th-largest downward mining difficulty adjustment on record this Saturday, with difficulty projected to fall about 10.3%. The move reflects mounting pressure on mining economics as bitcoin's native price weakens and miner revenue declines. Less efficient operators are being pushed offline, contributing to a drop in the network's overall hash rate.

Bullish: SpaceX holds roughly 6% of its corporate treasury reserves in Bitcoin.

Bitcoin moved back above $64,000 on June 12, a shift that suggests market sentiment has improved from earlier weakness, CoinDesk reported. The rebound comes as recent spot and derivatives signals begin to push back on a more cautious view previously outlined by Galaxy Digital. Alex Thorn, the firm's head of research, had argued the correction may not be finished, with a potential cycle low not materializing until the fourth quarter of 2026. Price action is now centered on the $64,900–$65,000 band. After bouncing from a June low near $59,000, the 4-hour chart shows a sequence of higher lows, pointing to firmer short-term demand. The $65,000 area also aligns with the 0.618 retracement of the prior decline, reinforcing it as a technical resistance zone. A clean break would likely shift attention to the next resistance levels around $66,700 and $68,500. If Bitcoin cannot hold above this area, the move may be read as a recovery rally rather than a renewed uptrend. Several indicators suggest pressure is easing. On the 4-hour chart, Chaikin Money Flow has moved back above zero, signaling renewed inflows. On the daily timeframe, the MACD histogram has narrowed from its recent low, indicating bearish momentum is fading. Derivatives positioning has also stabilized. Bitcoin open interest rose to $46.13 billion over the past day, up 0.12% intraday. The weighted funding rate stayed positive at 0.0029%, implying traders are adding exposure with a modest bullish tilt rather than leaning aggressively toward further downside. ETF flows remain a restraint. SoSoValue data show U.S. spot Bitcoin ETFs posted a net outflow of $19.03 million on June 11. BlackRock's IBIT recorded $30.26 million of net inflows, but that was more than offset by withdrawals from products from Fidelity, Ark Invest, Bitwise, and VanEck. The mixed picture echoes Galaxy Digital's caution. Thorn has said some features often associated with major market bottoms—including broad investor losses and concentrated capitulation selling—are not yet clearly visible. Bitcoin has so far defended support near $59,000, and derivatives traders' risk appetite appears to be gradually returning. Still, until ETF flows turn decisively positive, the near-term focus remains the $64,900–$65,000 resistance area. A breakout could open a move toward $68,500 and potentially a test of the $70,000 psychological level. Failure to clear resistance would keep debate alive over whether the correction has more room to run.

MicroStrategy's small Bitcoin sale has drawn fresh scrutiny of Michael Saylor's long-running "never sell" message, prompting him to address the issue publicly. Speaking at BTC Prague on June 11, Saylor responded after Strategy (MicroStrategy) reported it sold 32 BTC between May 26 and May 31 for about $2.5 million, at an average price of $77,135 per coin. The transaction marked the company's first disclosed Bitcoin sale since December 2022. Saylor told attendees, "I said to YOU never sell your bitcoin," while underscoring that personal guidance is not the same as corporate treasury management. He characterized the move as a financing decision rather than a change in the firm's Bitcoin outlook. Regulatory filings pointed to a specific use of proceeds: funding preferred stock distributions. The board declared cash dividends payable June 30 across multiple preferred series (STRF, STRC, STRE, STRK and STRD). The STRC dividend carries an annual rate of 11.50%. In scale, the sale was minimal. The 32 BTC represented roughly 0.0038% of Strategy's Bitcoin holdings at the time, a rounding error for the balance sheet but notable given the company's accumulation-first narrative. Days later, Strategy moved in the opposite direction with a far larger buy. Between June 1 and June 7, it purchased 1,550 BTC for $101.3 million at an average price of $65,332, lifting reported Bitcoin holdings to 845,256 BTC. The company also said its USD cash reserve increased by $100 million to $1 billion. Strategy indicated the purchase was funded in part through proceeds from its at-the-market share program, supporting both additional Bitcoin exposure and replenished liquidity. Strategy's dashboard now shows 845,256 BTC held at an average acquisition cost of $75,680, keeping the firm the largest publicly disclosed corporate Bitcoin holder by a wide margin. The episode highlights the push and pull between MicroStrategy's public identity as an aggressive accumulator and the day-to-day cash demands of a corporation with recurring obligations. With preferred dividends creating steady cash outflows, Saylor's remarks suggest the company may tolerate occasional, limited sales to cover such commitments while aiming to remain a net buyer over time. Key dates ahead include the June 30 dividend payments and the mix of funding sources Strategy uses to meet them$cash on hand, capital markets activity, or additional small BTC sales. For now, the larger June purchase reinforces Strategy's net-accumulation stance, even as the 32 BTC sale has led some traders to reassess how absolute the "never sell" message really is.