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On June 20, according to Al Arabiya Satellite TV, a senior U.S. delegation has arrived in Switzerland. (Jinshi)

[Senior U.S. Delegation Arrives in Switzerland]On June 20, according to Al Arabiya Satellite TV, a senior U.S. delegation has arrived in Switzerland. (Jinshi)

Senior U.S. Delegation Arrives in Switzerland

On June 20, on-chain analyst Yu Jin reported that a whale spent 16.555 million USDC to purchase 234,900 SOL over the past 3 hours, with an average purchase price of $70.5. This transaction contributed to a 2% increase in SOL's price during that time.

[Whale Spends 16.555 Million USDC to Acquire 234,900 SOL in 3 Hours]On June 20, on-chain analyst Yu Jin reported that a whale spent 16.555 million USDC to purchase 234,900 SOL over the past 3 hours, with an average purchase price of $70.5. This transaction contributed to a 2% increase in SOL's price during that time.

Whale Spends 16.555 Million USDC to Acquire 234,900 SOL in 3 Hours

On June 20, according to reports from Al Jazeera, Arab Satellite Television, and other Middle Eastern media, Lebanon stated that Israel has begun airstrikes in the eastern region of Lebanon, specifically the 'Bekaa Valley'. Previously, Israel had been conducting intense shelling in several areas of southern Lebanon, resulting in numerous casualties.

[Israel Begins Airstrikes in Eastern Lebanon]On June 20, according to reports from Al Jazeera, Arab Satellite Television, and other Middle Eastern media, Lebanon stated that Israel has begun airstrikes in the eastern region of Lebanon, specifically the 'Bekaa Valley'. Previously, Israel had been conducting intense shelling in several areas of southern Lebanon, resulting in numerous casualties.

Israel Begins Airstrikes in Eastern Lebanon

On June 20, Zhao Changpeng stated in an interview with Galaxy Research Director Alex Thorn on the Galaxy Brains podcast that the current pullback in the crypto market is still within the normal four-year cycle range. A pullback of about 50% is not uncommon, as historical cycles have seen pullbacks of up to 80%. He noted that when measured from the cycle's low point, Bitcoin's price has increased about five times compared to four years ago, and each cycle's low point has been higher than the previous one. He emphasized his commitment to long-termism, stating, "There is no exit for me in crypto." Zhao also pointed out that the key difference between this cycle and those in 2018 and 2022 is the significant shift in the U.S. government's attitude towards the crypto industry. Previously, the U.S. adopted a suppressive stance, but now it is actively promoting the construction of a crypto regulatory framework, encouraging other countries to follow suit. Additionally, the involvement of ETFs, stablecoins, RWA, and more institutional funds indicates a significant improvement in the industry's fundamentals compared to the past.

[Zhao Changpeng: Current Pullback is Normal in Four-Year Cycle, Industry Fundamentals Have Significantly Improved]On June 20, Zhao Changpeng stated in an interview with Galaxy Research Director Alex Thorn on the Galaxy Brains podcast that the current pullback in the crypto market is still within the normal four-year cycle range. A pullback of about 50% is not uncommon, as historical cycles have seen pullbacks of up to 80%. He noted that when measured from the cycle's low point, Bitcoin's price has increased about five times compared to four years ago, and each cycle's low point has been higher than the previous one. He emphasized his commitment to long-termism, stating, "There is no exit for me in crypto." Zhao also pointed out that the key difference between this cycle and those in 2018 and 2022 is the significant shift in the U.S. government's attitude towards the crypto industry. Previously, the U.S. adopted a suppressive stance, but now it is actively promoting the construction of a crypto regulatory framework, encouraging other countries to follow suit. Additionally, the involvement of ETFs, stablecoins, RWA, and more institutional funds indicates a significant improvement in the industry's fundamentals compared to the past.

Zhao Changpeng: Current Pullback is Normal in Four-Year Cycle, Industry Fundamentals Have Significantly Improved

On June 20, according to Coinglass data, if Bitcoin breaks through $65,000, the cumulative short liquidation intensity on major CEX platforms will reach $454 million. Conversely, if Bitcoin falls below $62,000, the cumulative long liquidation intensity on major CEX platforms will reach $581 million. Note from BlockBeats: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of liquidated contracts. The bars on the liquidation chart actually represent the significance of each liquidation cluster relative to nearby clusters, i.e., intensity. Therefore, the liquidation chart shows the extent to which the underlying price will be affected when it reaches a certain level. A higher 'liquidation bar' indicates that once the price reaches that point, there will be a stronger reaction due to a wave of liquidity.

[If Bitcoin Surpasses $65,000, CEX Liquidation Intensity Will Reach $454 Million]On June 20, according to Coinglass data, if Bitcoin breaks through $65,000, the cumulative short liquidation intensity on major CEX platforms will reach $454 million. Conversely, if Bitcoin falls below $62,000, the cumulative long liquidation intensity on major CEX platforms will reach $581 million. Note from BlockBeats: The liquidation chart does not display the exact number of contracts pending liquidation or the precise value of liquidated contracts. The bars on the liquidation chart actually represent the significance of each liquidation cluster relative to nearby clusters, i.e., intensity. Therefore, the liquidation chart shows the extent to which the underlying price will be affected when it reaches a certain level. A higher 'liquidation bar' indicates that once the price reaches that point, there will be a stronger reaction due to a wave of liquidity.

If Bitcoin Surpasses $65,000, CEX Liquidation Intensity Will Reach $454 Million

On June 20, according to reports from Al Jazeera, Arab Satellite Television, and other Middle Eastern media, Lebanese sources stated that Israel has commenced airstrikes on the 'Bekaa Valley' in eastern Lebanon. Previously, Israel had been conducting intense shelling in several areas of southern Lebanon, resulting in numerous casualties.

[Israel Begins Airstrikes on Eastern Lebanon]On June 20, according to reports from Al Jazeera, Arab Satellite Television, and other Middle Eastern media, Lebanese sources stated that Israel has commenced airstrikes on the 'Bekaa Valley' in eastern Lebanon. Previously, Israel had been conducting intense shelling in several areas of southern Lebanon, resulting in numerous casualties.

Israel Begins Airstrikes on Eastern Lebanon

On June 20, the Financial Times reported that consulting firm Accenture's stock fell 18% on Thursday, reaching its lowest level since 2017. This decline followed the company's downward revision of revenue expectations, raising investor concerns that the rapid development of AI is undermining traditional IT consulting and outsourcing business models. Accenture stated that new orders fell to $19.3 billion in the three months ending in May, a 3% year-on-year decrease. The company expects annual revenue growth to be no more than 4%, down from the previous guidance range of 3% to 5%. Accenture's market value has dropped from over $200 billion following the post-pandemic consulting boom to less than $80 billion. CEO Julie Sweet noted that the company is still winning business in AI-related consulting, but investors are worried that AI will reduce clients' reliance on consultants or lead to new competition from AI startups. She also mentioned that the impact of the Middle East conflict on revenue in the most recent quarter was $100 million more than expected, causing a slowdown in client decision-making in other regions. Accenture is seeking new growth areas and has significantly increased its acquisition budget, which will reach $9 billion for the current fiscal year. On Thursday, the company announced three cybersecurity-related acquisitions, including the purchase of vulnerability assessment firm runZero, device security company NetRise, and a majority stake in operational technology cybersecurity firm Dragos, with a total enterprise value of $4.2 billion for the three transactions.

[AI Threat Intensifies, Accenture Shares Drop to Lowest Level Since 2017]On June 20, the Financial Times reported that consulting firm Accenture's stock fell 18% on Thursday, reaching its lowest level since 2017. This decline followed the company's downward revision of revenue expectations, raising investor concerns that the rapid development of AI is undermining traditional IT consulting and outsourcing business models. Accenture stated that new orders fell to $19.3 billion in the three months ending in May, a 3% year-on-year decrease. The company expects annual revenue growth to be no more than 4%, down from the previous guidance range of 3% to 5%. Accenture's market value has dropped from over $200 billion following the post-pandemic consulting boom to less than $80 billion. CEO Julie Sweet noted that the company is still winning business in AI-related consulting, but investors are worried that AI will reduce clients' reliance on consultants or lead to new competition from AI startups. She also mentioned that the impact of the Middle East conflict on revenue in the most recent quarter was $100 million more than expected, causing a slowdown in client decision-making in other regions. Accenture is seeking new growth areas and has significantly increased its acquisition budget, which will reach $9 billion for the current fiscal year. On Thursday, the company announced three cybersecurity-related acquisitions, including the purchase of vulnerability assessment firm runZero, device security company NetRise, and a majority stake in operational technology cybersecurity firm Dragos, with a total enterprise value of $4.2 billion for the three transactions.

AI Threat Intensifies, Accenture Shares Drop to Lowest Level Since 2017

On June 20, Reuters reported that the U.S. Securities and Exchange Commission (SEC) is preparing to introduce a new policy that would permit cryptocurrency companies to offer blockchain-based tokenized stock trading, which could significantly impact the structure of the traditional stock market. According to SEC Chairman Paul Atkins, companies will be allowed to experiment with new digital asset business models without fully complying with existing disclosure and investor protection rules, including the tokenization of U.S. stocks. However, the proposal has raised concerns among traditional financial institutions, including Castle Securities and SIFMA, who believe that the changes could divert liquidity and create regulatory arbitrage risks. As of now, the SEC has not publicly commented on the matter.

[Reuters: SEC Plans to Allow Tokenized Stock Trading, Potentially Reshaping U.S. Stock Market Structure]On June 20, Reuters reported that the U.S. Securities and Exchange Commission (SEC) is preparing to introduce a new policy that would permit cryptocurrency companies to offer blockchain-based tokenized stock trading, which could significantly impact the structure of the traditional stock market. According to SEC Chairman Paul Atkins, companies will be allowed to experiment with new digital asset business models without fully complying with existing disclosure and investor protection rules, including the tokenization of U.S. stocks. However, the proposal has raised concerns among traditional financial institutions, including Castle Securities and SIFMA, who believe that the changes could divert liquidity and create regulatory arbitrage risks. As of now, the SEC has not publicly commented on the matter.

Reuters: SEC Plans to Allow Tokenized Stock Trading, Potentially Reshaping U.S. Stock Market Structure

On June 20, Bitwise analysts stated that despite the market still facing hawkish risks from the Federal Reserve, current valuation metrics for Bitcoin indicate it is in a historically undervalued range. The Bitcoin Mayer Multiple has fallen below 1.0, a level that historically corresponds to a long-term accumulation phase, suggesting that BTC prices exhibit 'deep value' characteristics. However, Bitwise also noted that investor participation remains sluggish. The realized market cap growth metric from CryptoQuant has been in a bear market phase since the end of October 2025, indicating that new capital entering the Bitcoin network is continuing to slow. This metric's 7-day and 59-day moving averages have dropped from around 70 in Q4 2025 to 13.9 and 19.1 as of June 17. Bitwise further stated that compared to AI-related stocks like Nvidia, Bitcoin's valuation is at a significant discount, while the latter shows a notable premium relative to long-term trend levels. Meanwhile, potential financing or IPOs from companies like SpaceX, Anthropic, and OpenAI could attract over $200 billion in investor demand, intensifying competition for liquidity in the investment market. The Federal Reserve maintained interest rates at 3.5% to 3.75% on Wednesday, but the latest dot plot indicates that nine officials expect at least one rate hike this year, with six officials anticipating two or more hikes. Following the interest rate decision, Bitcoin fell below $64,000. Bitcoin investor Jelle remarked that $64,000 is a critical price level for buyers, and if this position holds, a rebound to $70,000 may continue in the coming weeks.

[Bitwise: Bitcoin Significantly Undervalued Compared to AI Stocks, but Hawkish Fed Risks Persist]On June 20, Bitwise analysts stated that despite the market still facing hawkish risks from the Federal Reserve, current valuation metrics for Bitcoin indicate it is in a historically undervalued range. The Bitcoin Mayer Multiple has fallen below 1.0, a level that historically corresponds to a long-term accumulation phase, suggesting that BTC prices exhibit 'deep value' characteristics. However, Bitwise also noted that investor participation remains sluggish. The realized market cap growth metric from CryptoQuant has been in a bear market phase since the end of October 2025, indicating that new capital entering the Bitcoin network is continuing to slow. This metric's 7-day and 59-day moving averages have dropped from around 70 in Q4 2025 to 13.9 and 19.1 as of June 17. Bitwise further stated that compared to AI-related stocks like Nvidia, Bitcoin's valuation is at a significant discount, while the latter shows a notable premium relative to long-term trend levels. Meanwhile, potential financing or IPOs from companies like SpaceX, Anthropic, and OpenAI could attract over $200 billion in investor demand, intensifying competition for liquidity in the investment market. The Federal Reserve maintained interest rates at 3.5% to 3.75% on Wednesday, but the latest dot plot indicates that nine officials expect at least one rate hike this year, with six officials anticipating two or more hikes. Following the interest rate decision, Bitcoin fell below $64,000. Bitcoin investor Jelle remarked that $64,000 is a critical price level for buyers, and if this position holds, a rebound to $70,000 may continue in the coming weeks.

Bitwise: Bitcoin Significantly Undervalued Compared to AI Stocks, but Hawkish Fed Risks Persist

火币HTX报道，6月19日讯，海事数据公司AXS海运公司19日发布数据显示，18日共有25艘商船穿越霍尔木兹海峡，这是自4月中旬以来的最高单日通行量。（新华社）

【霍尔木兹海峡18日商船通行量达4月中旬以来峰值】火币HTX报道，6月19日讯，海事数据公司AXS海运公司19日发布数据显示，18日共有25艘商船穿越霍尔木兹海峡，这是自4月中旬以来的最高单日通行量。（新华社）

霍尔木兹海峡18日商船通行量达4月中旬以来峰值

U.S. Government Bans Foreign Nationals from Using Fable 5, Anthropic Issues Rebuttal

Bitcoin Liquidation Shakeout Leaves Traders Watching $66K Resistance And $61K Support

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China's Export Controls to Japan Create Bottleneck; 'White-Haired Stock God' Serenity Claims South Korea's Foosung to Become a 'Big Winner'

Claude to Mandate "Face-Scan ID Verification", No ID No Service Starting July?

A Clod of Chinese Soil Chokes Two Japanese Giants

U.S.-Iran Ceasefire: How Much of a Bitcoin Rally Can a Truce Agreement Support?

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霍尔木兹海峡18日商船通行量达4月中旬以来峰值

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