Client Access 
Communications
Bitcoin began the June 10 to June 16 period in a still-fragile environment, falling toward $61,000 on Wednesday as investors reduced their exposure to riskier assets. Ethereum dropped to around $1,630, while Solana and XRP also posted more pronounced losses. This weakness was part of a broader move affecting U.S. technology markets, showing that the correction was not driven solely by factors specific to the crypto industry.
Although the start of the week revived concerns about another break below $60,000, bitcoin once again demonstrated significant resilience. Sellers were unable to trigger a sustained acceleration toward the lows, and the market gradually rebuilt a base around that area. This reaction remains encouraging, as the $60,000 threshold had already attracted substantial demand during previous trading sessions.
Bitcoin also managed to advance despite U.S. inflation reaching its highest level in three years. Under normal circumstances, persistent inflation reduces the likelihood of rapid interest rate cuts by the Federal Reserve and tends to weigh on speculative assets. The fact that BTC was able to absorb this news without suffering another collapse suggests that much of the negative news had already been priced in.
Volatility in the stock market and energy prices nevertheless continued to weigh on sentiment. Investors remained focused on developments in the conflict between the United States and Iran, particularly because of the risks surrounding oil transportation through the Strait of Hormuz. A sustained increase in energy prices could have further fueled inflation and delayed the easing of U.S. monetary policy.
The crypto market, however, changed direction as the diplomatic outlook improved. On Saturday, bitcoin climbed back above $64,000, representing an increase of more than 8% from its June low near $59,000. This recovery allowed BTC to end a four-week streak of consecutive declines and provided an initial sign that selling pressure was beginning to lose intensity.
The announcement of an interim peace agreement between the United States and Iran then triggered a more significant move. Bitcoin surged on Monday to nearly $67,000, its highest level in almost two weeks. The easing of geopolitical tensions led to lower oil prices and a more pronounced return of risk appetite across global markets.
The rebound was amplified by the forced closure of numerous short positions. Approximately $555 million in leveraged crypto positions were reportedly liquidated during the move, mainly among investors betting on further declines. This type of liquidation can quickly accelerate a recovery when too many market participants are positioned in the same direction.
Bitcoin’s ability to move back above $65,000 is particularly important from a psychological standpoint. The market had failed to defend that level during the previous correction, which had turned it into resistance. Its return above this area shows that buyers are not necessarily waiting for a complete improvement in the economic environment before beginning to accumulate again.
The recovery still needs to be confirmed, but the market’s behavior is more constructive than it was at the beginning of the month. For the move to gain credibility, bitcoin will now need to remain above the area between $65,000 and $66,000. A sustained return above $70,000 would then represent an important milestone and could force additional sellers to buy back their positions.
Flows into spot Bitcoin ETFs also provided an initial sign of improvement. On Friday, these products recorded approximately $85.9 million in net inflows, their best day since May 14. Although this amount remains modest compared with the significant outflows observed during previous weeks, it shows that some institutional investors are prepared to return when prices appear more attractive.
This reversal in flows is important because ETFs had been one of the main sources of pressure on bitcoin since mid-May. A single positive day is obviously not enough to confirm a new trend, but it could represent the beginning of stabilization. A series of net inflows over the coming sessions would significantly strengthen the scenario of a market bottom around $59,000 to $60,000.
Strategy once again strengthened investor confidence by announcing the purchase of 1,587 bitcoins between June 8 and June 14. The company spent approximately $100 million on the acquisition, at an average price of $63,024 per BTC. It therefore held 846,842 bitcoins as of June 14, acquired at a total cost of approximately $64.1 billion.
The purchase is particularly noteworthy because it was made while bitcoin was trading near its recent lows. Strategy therefore appears to have taken advantage of market weakness to continue accumulating, rather than waiting for full confirmation of the recovery. This approach helps support demand and reinforces the idea that some large investors view the current area as attractive over the long term.
The company financed its purchases through its at-the-market share issuance program. It sold approximately 1.73 million common shares during the period, generating net proceeds of nearly $209 million. A portion of that capital was used to purchase bitcoin, while the remainder strengthened the company’s liquidity position.
Strategy’s U.S. dollar reserve stood at approximately $1.1 billion as of June 14. It is intended, among other things, to fund dividends on its preferred shares and interest payments on its debt. Maintaining a substantial liquidity reserve reduces the risk that the company could be forced to sell bitcoin in order to meet its financial obligations, which is a reassuring factor for the market.
Michael Saylor also explained that the possibility of occasionally selling bitcoin was part of the normal operation of the digital credit products developed by Strategy. The sale of 32 BTC announced at the end of May therefore does not appear to represent an abandonment of its accumulation strategy. The purchases made since then instead confirm that the company remains committed to increasing its reserves over the long term.
Ethereum experienced a more difficult week in terms of both price and flows into its ETFs, but institutional developments surrounding its network remain favorable. According to several industry participants, major financial institutions are no longer limiting themselves to experimenting with Ethereum. They are now beginning to study or actively deploy tokenized stocks, bonds, funds and real estate assets on its infrastructure.
This development is important because Ethereum’s institutional adoption depends less on speculation surrounding its token than on the actual use of its network. The more banks and asset managers develop tokenized products, the more Ethereum could generate transactions, fees and demand for its settlement services. The price of ETH may not yet fully reflect this structural progress.
BitMine, one of the largest Ethereum treasury companies, continued its accumulation during the week. The company reportedly added 76,881 ETH, worth approximately $136 million, bringing its total reserves to around 5.62 million ETH. It recently raised $274 million through an issuance of perpetual preferred shares offering an annual dividend of 9.5%.
The structure used by BitMine resembles certain elements of the model popularized by Strategy, but applied to Ethereum. The company uses traditional financial markets to acquire additional ETH and relies on staking income to support part of its obligations. This strategy demonstrates that crypto treasury companies continue to innovate despite the recent weakness in prices.
BitMine’s preferred shares are expected to begin trading on the New York Stock Exchange under the symbol BMNP. Their listing on a major stock exchange creates another bridge between traditional markets and Ethereum. Investors can therefore gain indirect exposure to a strategy based on the accumulation and staking of ETH without having to hold cryptocurrencies themselves.
Stablecoins also reached an important new milestone in Japan. The country’s three largest banks announced their intention to jointly issue stablecoins before the end of the fiscal year ending in March 2027. The project shows that major banking institutions now view digital currencies as a credible tool for modernizing payments and settlements.
Japan remains a market where cash and credit cards play a significant role. The decision by its leading banks to develop stablecoins therefore illustrates the scale of the transformation underway. Rather than leaving this sector exclusively to crypto companies, banks are seeking to integrate blockchain technology into their own services.
In the United States, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo are working on a national tokenized deposit network. The system, which could be launched during the first half of 2027, would make it possible to carry out instant and continuous settlements using bank deposits represented on blockchain infrastructure.
Tokenized deposits differ from stablecoins because they directly represent funds held at a regulated bank. They therefore remain integrated into the traditional banking system while using some of the advantages of blockchain technology, including round-the-clock availability, automation and faster transfers.
This project confirms that banks are no longer simply trying to protect themselves from the growth of digital assets. They now want to use the same infrastructure to improve their own products. Over the long term, the distinction between traditional finance and the crypto industry could become increasingly difficult to draw.
All of these initiatives support the view that adoption is continuing independently of bitcoin’s daily price fluctuations. Cryptocurrency prices have undergone a significant correction since the 2025 highs, but banks, asset managers, futures markets and publicly traded companies continue to invest in digital asset infrastructure.
The week therefore began cautiously but ended on a significantly more constructive note. Bitcoin absorbed high inflation, defended a major support area, benefited from an easing of geopolitical tensions and returned to the $65,000 level. ETFs recorded a first day of meaningful inflows, and Strategy continued its purchases.
The risks have not disappeared. Interest rates could remain high for longer, institutional flows remain uneven, and a renewed escalation in geopolitical tensions could quickly revive volatility. Bitcoin also remains well below its all-time highs, meaning that substantial rebuilding work is still required.
The situation nevertheless appears more balanced than it did at the beginning of the month. The market has gone through a significant phase of liquidations, leveraged positions have been reduced, and the most bearish investors have begun to be forced to buy back their positions. This cleanup could allow the next upward phase to rest on healthier foundations.
The main level to watch now remains the $65,000 to $66,000 area. If bitcoin manages to defend it, a return toward $70,000 would become increasingly plausible. A break above that threshold could then shift attention back toward $72,000 to $75,000, where several previous support and resistance areas are located.
The recent correction therefore does not appear to have undermined the industry’s fundamental trajectory. It has mainly served as a reminder that technological adoption and price performance do not always move at the same pace. In the short term, the market remains volatile and sensitive to macroeconomic news. Over the longer term, the progress made during the week reinforces the view that digital assets are occupying an increasingly permanent place within the global financial system.
The presented information is as of June 16th, 2026, unless otherwise indicated and is provided for information purposes only. The information comes from sources that we believe are reliable, but not guaranteed. This statement does not provide financial, legal or tax advice. Rivemont Investments are not responsible for any errors or omissions in the information or for any loss or damage suffered.
