More than half of Bitcoin's circulating supply is now below its onchain cost basis, with the share in loss rising to 51.6% from 34% in about a month. The shift leaves the market nearly evenly split between coins held at a profit and those held at a loss, a setup the article notes has been uncommon in Bitcoin's historical record.

XRP is hovering around $1.11 after slipping below trendline support at $1.1620, with traders watching whether selling pressure forces a move under $1.10. Separately, Ripple has joined Water.org's Get Blue campaign, using Ripple USD (RLUSD) and Ripple Payments to move cross-border funds to microfinance partners faster, as RLUSD supply sits above roughly $1.5 billion.

CME Group has announced the launch of futures trading tied to the new Nasdaq CME Crypto Index, a regulated basket that includes XRP, Stellar (XLM) and Chainlink (LINK) alongside Bitcoin and several other major tokens. Early screen data showed standard XRP futures (XRPM6) at 1.1090 with 169 contracts traded, while micro XRP futures (MXPM6) were at 1.1105 with 611 contracts and the token down about 3% on the day.

Bitcoin traded near $61,100 on Wednesday, down 3% in 24 hours and 6.9% on the week, as a stronger May U.S. jobs report pushed expectations for higher rates and triggered broad risk-off selling. Gold also fell 2% to below $4,200 per ounce, while the 10-year Treasury yield rose to 4.54% and markets priced a 75.5% chance of rate hikes before year-end. The report showed 172,000 non-farm payrolls versus a 130,000 consensus estimate, with April revised up to 214,000.

MUFG, SMBC and Mizuho said they will jointly issue a Japanese yen-pegged stablecoin, targeting a commercial rollout by March 2027. The project is designed for institutional uses such as securities settlement and wholesale B2B cross-border payments, rather than retail payments. A US dollar-pegged version is also planned to follow within the same fiscal year.

On June 9, XRP spot ETFs posted $7.44 million in net inflows, topping Solana’s roughly $794,000 while Bitcoin and Ethereum spot products logged $77.44 million and $40.85 million in outflows. Despite the flow advantage, XRP traded near $1.11 after losing the $1.28–$1.30 support area, keeping the chart technically weak even as ETF demand persisted.

Bitcoin has recently dropped below $60,000 to a new cycle low, reviving debate over whether the market is near a bottom. Grayscale says on-chain signals suggest BTC is technically undervalued, though not at the extreme discounts seen in past crash periods. The firm also flags the CLARITY Act's progress and leverage conditions as key factors that could shape near-term sentiment and liquidation risk.

Bitmine Immersion Technologies bought 75,000 ETH for about $123 million on June 9, taking its ether holdings to more than 5.4 million ETH. The purchases were executed over roughly eight hours via Kraken and FalconX and distributed across three wallets, including two newly created ones. The firm says this represents over 5% of ethereum supply, while some onchain trackers put the share closer to 4.6%.