LUNATerra 2.0

A 50% drawdown feels like the death of a cycle. The data says it is closer to the middle of an ordinary one. The total crypto market has contracted roughly 48% from its peak to about $2.46 trillion, and Bitcoin (BTC) has halved from its October 2025 record of $126,200 to the $63,...

On-chain data shows the total demand for Bitcoin has significantly contracted over the past month, hitting a pace comparable to the LUNA collapse. Bitcoin Spot & Futures Demand Has Shrunken Recently As pointed out by CryptoQuant head of research Julio Moreno in an X post , Bitcoin demand has been contracting at a sharp rate recently. “Demand” here refers to the combined amount of Bitcoin flowing into spot and futures markets. Below is the chart shared by Moreno that shows the 30-day change in this demand over the last few years. As displayed in the graph, the total demand for Bitcoin rose alongside the price surge that occurred over the course of April and the first half of May. Interestingly, as the color coding of the curve suggests, this increase was due to demand flowing into derivatives markets; spot demand actually contracted during the rally. In the past, upward moves in the price have generally only been sustainable when demand has simultaneously risen in the spot and futures markets. From the chart, it’s apparent that both the bull rallies in 2024 and the run in 2025 involved this green setup. Since the recent recovery surge was only fueled by speculative activity, it may not be surprising that it couldn’t last, and a sharp reversal has followed for the market. The shift of winds in the Bitcoin sector has not only involved the total demand flipping into the negative, but it has also led to a turnaround in direction for speculative activity that has aligned it with the spot market’s trend of contraction. Currently, the 30-day change in the total demand is sitting at a negative value of 501,000 BTC, which is the lowest that the metric has hit since May 2022. “Bitcoin demand is contracting at a pace comparable to the post-Terra/Luna collapse period,” noted the analyst. The Terra/LUNA collapse was a violent event that occurred during the 2022 bear market. During the event, UST, an algorithmic stablecoin, lost its $1 peg and caused the Terra ecosystem to destabilize into a death spiral, ultimately triggering a crash in the wider sector. Back then, the contraction in spot and futures demand reached the -559,000 BTC mark. The current value of the indicator is still not there, but if the market continues in this trajectory, it’s possible that demand could flow out of the market at a similar rate. It only remains to be seen, though, how the Bitcoin sector will develop in the near future. BTC Price Following the price crash, Bitcoin has dropped to the $63,200 level, the lowest that the asset has been since February.

Bankless co-founder David Hoffman, who sold all of his Ethereum holdings, made statements regarding Bitcoin (BTC) and the altcoins he acquired. Continue Reading: A Celebrity Who Sold All His Ethereum and Bought Five Different Altcoins Speaks About Bitcoin (BTC) and the Prices of ...

Bitcoin has plunged 25% toward the $20K level. Break down the six biggest reasons behind the crash and the key signals that could shape what happens next. Read original article on coinlive.me

Global digital asset and AI infrastructure firm Galaxy Digital has launched a new OTC (over-the-counter) prediction markets trading desk, which is expected to give institutional investors a platform to place bets on prediction events at a scale larger than retail traders. The new service, run through Galaxy’s global markets desk, covers non-sports event contracts listed on Kalshi and Polymarket, according to a company press release. The Nasdaq-listed firm then completed a $10 million inaugural trade with crypto hedge fund Arca, tied to the fate of U.S. digital asset legislation. Institutions want a piece of the prediction market pie Prediction markets have grown rapidly over the past two years, but liquidity remains thin for individuals chasing higher gains with bigger capital. Bloomberg reported that Galaxy’s single OTC trade with Arca worth 10 million was almost five times the size of the total volume on a Kalshi-listed contract tracking the same crypto legislation. The difference between institutional capital and retail is simply astronomical. Galaxy’s head of prediction markets, Gilbert Wasserman, told Bloomberg that privacy is a major attraction for these institutional investors. Trades and bets placed on platforms like Polymarket can expose wallet addresses, making it difficult for institutional players to take positions without the public’s knowledge. However, Galaxy will structure these trades as event swaps under pre-existing ISDA agreements. This framework would allow institutions to trade prediction markets without setting up separate legal infrastructure or directly opening accounts on specific prediction market platforms. CLARITY Act focus of Galaxy Arca $10m trade The $10 million transaction between Galaxy and Arca revolves around the Digital Asset Market Clarity Act of 2025, and whether it will pass Congress before 2027. According to the contract, Arca would pay Galaxy if the bill passes. If it fails to pass, Galaxy pays Arca. Jeff Dorman, Arca’s chief investment officer, mentioned that prediction markets are among the best tools for hedging exposure to the recent regulatory negotiations in crypto, but that liquidity on existing platforms makes direct participation difficult for larger funds. “Event-driven markets are becoming core to how sophisticated investors express macro views, and they deserve institutional infrastructure to match,” Jason Urban, Galaxy’s global co-head of digital assets, said in the press statement . Prediction market expansion Galaxy Digital has also stated that it will allow the combination of prediction market positions with other types of hedges across multiple asset classes. This would ensure a wider set of strategies rather than taking isolated bets. The firm also plans to expand beyond Kalshi and Polymarket to additional platforms over time. The company will conduct business only with institutional firms and assess its offerings on a jurisdiction-by-jurisdiction basis, according to Yahoo Finance’s CryptoProwl report. Shares of Galaxy Digital (NASDAQ: GLXY) fell 6% on Tuesday, tracking a broader decline across crypto-related stocks. The stock was trading at $29.06 per share as at the time of writing. If you're reading this, you’re already ahead. Stay there with our newsletter .

Terra Classic opened June by permanently removing over 32.5 million $LUNC from circulation, pushing total supply down to 6.46 trillion tokens as the community's deflationary burn program continues.

BitcoinWorld Bitcoin Kimchi Premium Hits Lowest Level Since March 2022 The Bitcoin Kimchi Premium — the price gap between BTC on South Korean exchanges and global markets — has dropped to -2.7%, marking its lowest level since March 2022. The data, shared by cryptocurrency analyst...

Terra Classic has spent years carrying one of the heaviest reputations in crypto, yet LUNC price has refused to disappear from market discussion. The coin collapsed, confidence faded, and many expected the chart to drift into irrelevance. Recent price action now raises a differen...

Nigeria has secured four spots on Bloomberg’s second annual “25 African Startups to Watch” list, reinforcing the country’s…