- Bitcoin held above $60K as the crypto market opened Monday in the green.
- Regulatory updates and AI developments remained key drivers of crypto market sentiment.
- BIS, EBA, and US lawmakers advanced major crypto policy developments.
Bitcoin traded at $60,018, gaining around 0.2% over the past 24 hours, while Ethereum rose nearly 0.9% to around $1,579. Solana outperformed many large-cap assets with a 2.75% daily gain, while XRP and BNB also posted modest advances.
Galaxy Digital CEO Mike Novogratz said Bitcoin’s short-term direction remains uncertain as investors closely watch Strategy’s financing model. He identified $59,000-$60,000 as the key support zone, warning that a break below that range could expose Bitcoin to a deeper correction toward $45,000.
AI Dominates Headlines Beyond Crypto
Artificial intelligence continued to attract investor attention. Elon Musk revealed that Grok 4.5 has entered private testing inside SpaceX and Tesla, with early testing showing performance close to or potentially exceeding Opus. He also said new AI models trained from scratch will be released monthly throughout the year.
Marc Andreessen described Zhipu GLM-5.2 as the first Chinese AI model capable of competing with leading US public models across most benchmark tasks, highlighting growing global competition in AI development.
At the same time, the Bank for International Settlements (BIS) warned that massive AI spending could eventually turn into an investment slowdown if returns fail to justify current capital deployment.
Anthropic CEO Dario Amodei also cautioned US lawmakers that unrestricted open-source AI models could create irreversible security risks due to the lack of ongoing oversight.
Regulation and Stablecoins Stay in the Spotlight
Regulatory activity accelerated across several jurisdictions as the European Banking Authority published its proposed penalty framework under MiCA, with fines reaching 12.5% of annual revenue or twice the profits generated from violations for significant token issuers.
The framework arrives ahead of the July 1 licensing deadline for crypto firms operating across the European Union.
In the United States, House Speaker Mike Johnson said legislation containing a temporary CBDC ban through 2030 will be sent to President Donald Trump for signature on Monday. Meanwhile, the BIS argued that stablecoins still lack several core characteristics of money, including resilience and interoperability.
The organization warned that wider adoption could weaken monetary sovereignty in emerging economies, noting that nearly 99% of fiat-backed stablecoins remain tied to the US dollar.
American Express also signaled growing institutional interest by opening a search for a Vice President of Stablecoin and Blockchain Strategy to help develop its next-generation payment infrastructure.
Ecosystem Updates and Market Activity
The Hyper Foundation committed approximately $10 million in grants to help projects migrate away from the discontinued USDH stablecoin before the end of July.
Arthur Hayes purchased 6.16 million SYN tokens valued at about $2.2 million from FlowDesk and later said Hypercall could become a serious competitor to Deribit in the decentralized options market.
Loopring announced the shutdown of its decentralized exchange after failing to achieve meaningful adoption. The project will return eligible user assets directly to Ethereum Layer 1 wallets, with the team covering all gas fees.
Changpeng Zhao also shared his view that the 2026 crypto bear market resulted from capital rotating toward AI, geopolitical uncertainty, and the traditional four-year crypto cycle. He added that he intends to help Binance.US gain access to Binance Global liquidity while continuing to serve as an advisor rather than returning to exchange management.
South Korea’s updated listing rules will take effect on July 1, increasing pressure on several KOSDAQ-listed crypto treasury companies facing possible delisting if market capitalization continues to decline.
Related: US IPO Market Surges to $120 Billion in 2026 as Goldman Sees Healthy Recovery, Not Market Bubble
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