Crypto Market Update: June 27, 2025

Tensions between the United States, Iran, and Israel have fueled extreme volatility in the crypto market.

Over the weekend, Bitcoin dipped below $98,000, dragged down by military strikes and threats of retaliation in the Middle East — breaking the key psychological support at $100,000 and triggering investor anxiety.

But the situation turned quickly: following the announcement of a ceasefire on Monday, BTC bounced back and climbed above $106,000.

This wave of geopolitical turmoil didn’t just shake Bitcoin — it also impacted altcoins, ETFs, and even war-themed memecoins.

Companies like Nakamoto Holdings are doubling down on BTC. In the U.S., spot Bitcoin ETFs have now seen 13 consecutive days of net inflows, signaling that the institutional bull cycle may still have plenty of fuel left.

Below, you’ll find the key highlights from a week that put Bitcoin back in the global spotlight — amid risks, relief, and bold strategic moves.

Tensions Between the U.S., Israel, and Iran Shake Markets and Push BTC Below $98K Over the Weekend

BTC dips and recovers. Source:  Cointelegraph

U.S. President Donald Trump brought relief to the international community by announcing on the evening of Monday, June 23, that Israel and Iran had agreed to a ceasefire.
Both governments expressed support for the truce, but new attacks were reported from both sides, casting doubt over the ceasefire that could have ended the 12-day war.

Global markets, however, remain hopeful for a definitive resolution to the Middle East conflict, which escalated over the weekend following U.S. strikes on Iranian nuclear facilities.

Bitcoin Price Reacts

On the morning of Monday, June 23, 2025, Bitcoin (BTC) was trading at $101,480 — down 0.8% over the past 24 hours.
On Sunday, BTC briefly dipped to $98,400, threatening to break below the key psychological support level of $100,000 — one of the most closely watched markers by traders.

The main trigger for the drop was rising tensions in the Middle East. Key developments included:

• A U.S. strike on Iranian nuclear facilities under a mission called Midnight Hammer
  
• Iran’s response, with Supreme Leader Ali Khamenei vowing retaliation: “The punishment will continue”
  
• Heightened geopolitical risk impacting global markets — from commodities to stocks and cryptocurrencies
  

The escalation sparked panic among investors, who rushed to liquidate volatile assets like BTC in favor of safer, more liquid positions.

Impact on the Crypto Market

The heavy sell-off extended beyond Bitcoin, dragging down other major cryptocurrencies such as Ethereum, Solana, and BNB.

Fears that the Strait of Hormuz could be closed further increased risk aversion — as such a move could disrupt global oil supplies.

Bitcoin Rises 3.8% After Iran–Israel Ceasefire, Surpasses $106K

Source: Coinmarketcap

On June 24, 2025, Bitcoin (BTC) jumped 3.8% in 24 hours, reaching $105,253 (R$ 577,360) following the announcement of a ceasefire between Iran and Israel. The market interpreted the news as a sign of geopolitical relief, easing risk aversion among investors.

According to André Franco, an analyst at Boost Research, BTC also benefited from a weakening U.S. dollar — a factor that typically favors risk-on assets like cryptocurrencies.

Bitcoin’s surge triggered a broader rally across altcoins. Here are the top gainers:

• XRP: +9.6%
  
• Ethereum (ETH): +8.2%
  
• Solana (SOL): +7.9%
  
• Dogecoin (DOGE): +7.5%
  

These cryptocurrencies responded positively to the easing of tensions and the return of capital to risk assets.

Bitcoin Holds at $107K as ETFs See 13 Straight Days of Inflows

Source: Coinmarketcap

Bitcoin (BTC) is holding steady around $107,161 this Friday (June 27), with a slight 0.3% dip in the past 24 hours, according to data from Portal do Bitcoin.

This price consolidation signals strong buying interest, even after several weeks of gains driven by macroeconomic factors and institutional momentum.

Bitcoin Spot ETFs in the U.S. Record 13 Consecutive Days of Net Inflows

U.S.-based spot Bitcoin ETFs are in the midst of a powerful capital inflow streak — with 13 consecutive days of net positive inflows, totaling approximately $2.9 billion since mid-June.

• The largest single-day inflow reached $588.6 million, marking the biggest of the month so far.
  
• Over the past week alone, ETFs have attracted more than $1.2 billion in new investments.

What Does This Mean for Bitcoin?

• Stability above $107K suggests strong technical support.
  
• Growing institutional demand — particularly from funds with robust governance structures — strengthens Bitcoin’s role as a global financial asset.
  
• If inflows remain steady, BTC may soon test resistance levels above $110,000.
  

With Bitcoin holding firm around $107K and ETFs posting nearly two weeks of uninterrupted inflows, the market is signaling that the institutional bull cycle is not only intact but gaining strength. If the trend continues, new price records could be on the horizon.

War-Themed Memecoins Surge Up to 1,964% Amid Middle East Tensions

Source: insidebitcoins

On June 23, 2025, several war-themed memecoins saw explosive price spikes following escalating tensions between the United States, Israel, and Iran.

The standout was BunkerCoin, which skyrocketed +1,964% in just 24 hours, reaching a market cap of $5.14 million.
However, the rally was short-lived — BunkerCoin plunged 78% shortly after, dropping to $1.13 million. Other tokens followed similar patterns:

• Werld Wur Thwee: Peaked at $1.54 million, then dropped 89%
  
• Sticks and Stones (SAS): Topped $1.56 million
  
• Make Iran Great Again: Hit $832K before crashing
  

What’s Fueling These Memecoins?

Source: Cointelegraph

Global geopolitical tension sparked speculative interest in tokens parodying war and conflict.

Most of these coins were launched on platforms like Pump.fun, built on the Solana blockchain, which has seen over 11.5 million memecoins created to date.

According to Decrypt, 22,019 new tokens were launched on Solana on that single Saturday alone.

Extreme Volatility and Ethical Concerns

These tokens are highly speculative and volatile, often created as jokes or for short-term hype. Experts warn:

• Sudden gains can lead to even faster collapses
  
• Many of these projects lack fundamentals or real utility
  
• There’s growing ethical debate over turning war and human tragedy into tokenized memes

Crypto Market Reacts to Ceasefire

Following news of an emerging ceasefire between the conflicting nations, the broader crypto market responded with a sharp rebound:

• Bitcoin: +4.2%
  
• Ethereum (ETH): +3.7%
  
• Solana (SOL): +5.1%
  
• Pepe (PEPE): +12.5%

The contrast highlights the speculative nature of memecoins versus the more stable response from major crypto assets.

$PENGU: Pudgy Penguins Lead a New Era of Memecoins With NFT ETF Filing in the U.S.

Source: Crypto News Australia

On June 25, 2025, the Chicago Board Options Exchange (CBOE) officially filed Form 19b-4 with the SEC, requesting approval to list the Canary PENGU ETF — a fund that includes both the $PENGU token and NFTs from the Pudgy Penguins collection.

This filing marks the start of the formal review process, giving the SEC up to 240 days to make a decision, likely by late 2025 or early 2026.

The $PENGU project, born from the popular Pudgy Penguins brand, has become a milestone in the new wave of memecoins and NFTs. It’s the first NFT project to apply for an ETF in the U.S. — and the second crypto asset after Dogecoin to seek approval for a memecoin-based ETF.

The Pudgy Penguins mascot is already known as the “official crypto penguin of Nasdaq,” highlighting the project’s growing ties to traditional finance and boosting its institutional visibility.

A Memecoin on the Stock Market: An Unprecedented Move

The $PENGU filing represents a historic crossover between crypto culture and Wall Street. It’s the first time a memecoin rooted in NFTs has attempted to become a publicly traded index fund in the U.S., directly challenging the idea that NFTs are a passing trend.

The $PENGU ETF: A Regulated Way to Gain Crypto Exposure

For investors wary of the extreme volatility of collectible NFTs like the Bored Apes, the $PENGU ETF offers a more secure, regulated way to gain exposure to both memecoins and NFTs.

It provides an entry point into the crypto space within the familiar framework of the stock market.

Arizona Approves Bill to Create Bitcoin Reserve Fund Using Seized Assets

Source: Bitcoin.com News

The Arizona Senate has passed Bill HB 2324 with 16 votes in favor and 14 against.

The proposal outlines the creation of a Bitcoin and Digital Asset Reserve Fund, composed exclusively of cryptocurrencies seized in criminal investigations.

The fund will be managed by the State Treasurer and stored in licensed digital wallets or regulated exchanges. Depending on market conditions, the state may choose to hold or convert the assets.

HB 2324 updates Arizona’s asset forfeiture laws to include digital assets like Bitcoin and other cryptocurrencies.

It also sets legal standards for the custody and management of crypto assets by the state, aligning Arizona with current digital asset industry practices.

How Will Arizona’s Bitcoin Fund Work?

• Funding Source: Crypto assets seized by state authorities
  
• Fund Allocation:
  
  • 50% to the Attorney General’s Office
    
  • 25% to the State’s General Fund
    
  • 25% to the new Bitcoin Reserve Fund
    
• Custody Options:
  
  • Licensed exchanges
    
  • Secure digital wallets
    
  • Assets can be held in original token form, based on liquidity and security assessments

What’s Next?

The bill now heads to the Arizona House of Representatives. If approved by at least 31 votes, it will go to Governor Katie Hobbs for signature or veto.

It’s worth noting that Hobbs previously signed a bill (HB 2749) to create a fund for “unclaimed” cryptocurrencies, but vetoed past efforts to use taxpayer money to buy Bitcoin — such as SB 1025.

If HB 2324 is enacted, Arizona would become the first U.S. state to hold Bitcoin reserves funded entirely by confiscated crypto, without using public money.

The move highlights a growing trend among U.S. states to strategically regulate and integrate digital assets into public finance in a secure and compliant way.

Nakamoto Holdings Raises $51.5M to Buy Bitcoin and Expand Corporate Treasury

Source: Cointelegraph

Nakamoto Holdings has raised $51.5 million in a private investment round (PIPE) with healthcare tech firm KindlyMD, with the sole purpose of buying Bitcoin and growing its corporate treasury.

The deal was closed in just three days and adds to previous rounds, bringing the company’s total Bitcoin holdings under management to $763 million.

According to BitcoinTreasuries.net:

• Over 130 publicly traded companies now hold Bitcoin as a reserve asset
  
• Institutional BTC ownership grew 14% in the last month

Who’s Behind It?

The company is led by David Bailey, who is also a crypto advisor to Donald Trump’s campaign.
The capital was raised via PIPE (Private Investment in Public Equity), with shares sold at $5 each through KindlyMD.

Where’s the Money Going?

100% of the funds will be used to acquire Bitcoin for Nakamoto Holdings’ corporate balance sheet, following the playbook of companies like:

• MicroStrategy
  
• Tesla (partial allocation)
  
• Galaxy Digital

What Are the Risks?

Experts caution that this strategy exposes companies to crypto market volatility.
If Bitcoin drops below $90,000, firms with low liquidity could face operational risks.

Still, for some investors, Bitcoin as a corporate reserve is seen as:

• A hedge against inflation
  
• A long-term value play
  
• An alternative to the U.S. dollar as a store of value
  

On the flip side, regulators continue to view this move as high-risk — particularly in bearish market conditions.

Nakamoto Holdings now joins the growing list of companies with a declared focus on Bitcoin, holding over $760 million in digital assets.

The move reinforces the trend of businesses betting on BTC as a strategic — albeit risky — corporate asset.

Hacker Breaches CoinMarketCap, Steals R$115,000 in Crypto via Wallet Drainer Scam

Source: Portal do Bitcoin

On June 20, 2025, CoinMarketCap — one of the world’s largest cryptocurrency data aggregators — was hit by a hack that led to the theft of approximately R$115,000 (US$21,000) in cryptocurrencies.

The attack was carried out through a fake Web3 wallet connection popup that appeared on the site’s homepage.

The malicious element was injected via an animated doodle on the platform — a technique known as a wallet drainer using XSS (cross-site scripting).

Amount Stolen and Victims

• 76 wallets had funds drained immediately after connecting to the fake popup
  
• Estimated losses totaled R$115,000
  
• Other sources report over 110 wallets were affected, with potential losses up to US$43,000

How Did the Attack Happen?

The hacker exploited a vulnerability in the JSON file of a doodle shown on CoinMarketCap’s homepage.

They injected a JavaScript script that displayed a fake wallet connection popup — mimicking legitimate prompts from wallets like MetaMask or Trust Wallet.

This supply chain attack allowed the malicious script to request wallet access without proper validation — enabling immediate unauthorized transfers.

CoinMarketCap’s Response

• Immediately removed the malicious content
  
• Confirmed the breach and pledged to reimburse all affected users
  
• Clarified that its APIs and core infrastructure were not compromised
  
• Launched a security audit to review protocols for dynamic content on the site
  

MetaMask’s team was the first to detect the attack and issue a warning on social media, advising users not to connect their wallets to CoinMarketCap temporarily.

How to Protect Yourself from Similar Scams

• Never connect your Web3 wallet to unexpected popups, even on trusted websites
  
• Use phishing protection extensions, such as those offered by MetaMask
  
• Keep your wallet updated, and store large amounts in cold wallets (offline storage) for added security

SEI Token Surges 47% After Being Tapped for Potential Wyoming State Stablecoin

Source: Decrypt

The SEI token, native to the Sei Network, surged 46.5% in the past 24 hours, reaching $0.2855 on June 24, 2025. 

Over the past week, the token gained a staggering +72%, making it the top-performing crypto among the 100 largest digital assets, according to CoinMarketCap.

Wyoming’s Stablecoin Plans Fuel SEI Rally

The main catalyst behind the rally was the announcement that the U.S. state of Wyoming is considering Sei Network to host its upcoming state-backed stablecoin, WYST, set to launch in August 2025.

Other blockchains under evaluation include:

• Ethereum
  
• Solana
  
• Arbitrum
  
• Avalanche
  
• Aptos
  
• Stellar
  

The potential adoption by a U.S. state government positions Sei as a credible institutional blockchain, boosting demand for its native token.

Sei Network Metrics Show Strong Growth

Over the last two months, Sei Network has reported:

• +180% growth in daily active addresses
  
• +20% increase in transaction volume
  
• TVL (Total Value Locked) above $542 million — more than double since March
  

Additionally, Canary Capital filed to launch a SEI ETF, signaling growing institutional interest.

Technical Correction After the Pump

Following the sharp rally, SEI saw a modest profit-taking correction of –10.8%, pulling back to around $0.2772.
This type of movement is typical after strong gains and may indicate price consolidation.

SEI nearly doubled in a single day after being shortlisted to host WYST, the first U.S. state-issued stablecoin.

With rising on-chain activity, a soaring TVL, and mounting institutional interest via ETF proposals, Sei Network is emerging as one of the most promising blockchains of 2025.

Across Protocol Founders Accused of Diverting $23 Million from DAO

Risk Labs’ certificate of company re-registration. Source: Across Bridge Protocol

The founders of the cross-chain bridge Across Protocol are facing serious allegations of using the project’s DAO (Decentralized Autonomous Organization) governance structure to divert $23 million worth of ACX tokens to Risk Labs — a company directly linked to the creators of the protocol.

The accusation was brought forward by “Ogle”, a pseudonymous on-chain investigator and founder of the Layer 1 project Glue, who shared evidence on X (formerly Twitter).

How the Alleged Diversion Happened

• 2022: The DAO approved a proposal transferring 13.1 million ACX tokens (valued at ~$7 million) to Risk Labs
  
• 2023: A second proposal released another 50 million ACX tokens, bringing the total to $23 million
  

Wallets linked to the founders were responsible for a large share of the votes. One such wallet — funded by co-founder Hart Lambur — held nearly 14% of total voting power.

*Without these wallets, the proposals would not have reached quorum and would likely have failed.

Risk Labs’ Response

Hart Lambur denied the allegations, stating in a public post that:

• Risk Labs is a non-profit foundation company registered in the Cayman Islands, with no shareholders
  
• All votes were on-chain, transparent, and auditable
  
• Any abuse of governance could be challenged through legal channels
  

However, experts note that such foundation structures can still distribute funds to beneficiaries, raising questions about their neutrality and governance integrity.

Implications for the Crypto Market

• Highlights the need for independent audits of DAO operations and better transparency in on-chain governance
  
• May accelerate the push for regulatory frameworks targeting crypto foundations with ambiguous legal structures
  
• Could lead Web3 communities to demand more distributed voting mechanisms and anti-whale systems to prevent governance capture
  

This case adds to growing concerns over DAO governance manipulation and the blurred lines between decentralized protocols and their founding entities.

Seed Phrases and Front-End Attacks Drive Record Crypto Losses in 2025

Losses in the first half of 2025 have already surpassed all of 2024 combined. Source: TRM Labs 

Losses in the first half of 2025 have already surpassed the entire total for 2024, according to a report from TRM Labs — putting this year on track to break the previous all-time high set in 2022.

Main Causes of Crypto Losses

1. Compromised Seed Phrases
The theft of seed phrases remains one of the top attack vectors, involving:

• Social engineering
  
• Phishing campaigns
  
• Malware designed to extract recovery data

2. Vulnerabilities in Front-End Interfaces

DeFi project websites and user interfaces were compromised to reroute transactions, tricking users into unknowingly authorizing malicious transfers — a form of “invisible attack.”

Key Stats

• 80% of total losses came from infrastructure-level attacks (seed phrase theft + front-end compromises)
  
• Average loss per incident: $30 million — twice the average in 2024
  
• Only 12% of the damage was due to smart contract flaws or protocol exploits

How to Stay Safe: TRM Labs Security Recommendations

• Enable 2FA (two-factor authentication) on all accounts
  
• Use cold wallets for long-term storage
  
• Always verify URLs and ensure you’re using the official front-end
  
• Never store seed phrases on your computer or in the cloud
  
• Use platforms that undergo regular third-party security audits
  
• Prefer ecosystems that integrate real-time blockchain intelligence

Broader Impact on the Crypto Ecosystem

• User responsibility is now the weakest link in security
  
• A secure protocol is not enough — a compromised interface can still lead to fraud
  
• Web3 companies must invest in proactive security and user education

The new wave of attacks shows that the biggest threat to your crypto might not be the protocol itself — but the interface you use or where you store your seed phrase.

In 2025, extra caution is essential — with your devices, the platforms you trust, and the way you manage self-custody.

Ripple’s Request Denied: $125M Fine and Institutional XRP Ruling Stand

Source: Cointelegraph

U.S. District Judge Analisa Torres (Southern District of New York) has rejected a joint request by Ripple and the U.S. Securities and Exchange Commission (SEC) to:

• Reduce the $125 million fine to $50 million
  
• Reverse the decision that $728 million worth of XRP sold to institutional investors constituted an unregistered securities offering
  
• Dismiss the injunction barring future institutional XRP sales without proper registration

Background: Ripple vs. SEC

• July 2023: Judge Torres ruled that XRP sales to retail investors did not violate securities laws, but institutional sales did
  
• 2024: Ripple was ordered to pay a $125 million fine
  
• March 2025: Ripple and the SEC jointly proposed a settlement to reduce the fine — without taking the case to a higher court

Why Was the Request Denied?

Judge Torres stated:

• There were no “extraordinary circumstances” to justify reversing a final judgment
  
• Only the Second Circuit Court of Appeals has authority to review and potentially overturn final rulings
  
• The proposed settlement does not override the formal legal process

What This Means for Ripple

• Ripple is still prohibited from selling XRP to institutional investors without SEC registration
  
• The $125 million fine remains in full effect
  
• If Ripple wants to overturn the decision, it must formally appeal to a higher court

Broader Impact on the Crypto Market

• This ruling confirms that out-of-court settlements cannot undo established legal precedents
  
• It may influence how other SEC enforcement cases against crypto projects unfold
  
• XRP’s legal status remains split: permitted for retail sales, but restricted for institutional transactions
  

Judge Torres’ decision reinforces the legal rigor surrounding crypto asset cases in the U.S. and limits the ability of settlements to alter binding court decisions. For Ripple, the only path forward is a formal appeal, and the outcome could shape how XRP is regulated in the U.S. for years to come.