Bitcoin, which rose more than 4% on the first trading day of the week, experienced a major decline towards the last days of the week. Geopolitical tensions were the main reason why the week, which started positively, turned pessimistic. Institutional companies, especially in the US, started to turn to Bitcoin and Ethereum. Experts think that cryptocurrencies will be important in the long run, regardless of short-term developments. Issues such as the Israeli-Iranian war, followed by global adoption and reserve processes shaped this week’s newsletter.
Here is what happened this week…
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Middle East Hits Crypto Market
At dawn on June 13, Israel launched an attack on Iran. This attack, which had a global impact, caused assets such as gold and oil to rise. On the other hand, many cryptocurrencies, especially Bitcoin, lost value. From the rumors that Israel would attack Iran to the date of the attack, the price of Bitcoin fell by more than 5%. In the same time period, the Ethereum price fell by over 10%. The Middle East tensions are expected to continue into next week and financial markets are likely to remain in a state of uncertainty.
Giants Turn to Crypto
US-based shopping and technology companies Amazon and Walmart are preparing to launch their own dollar-backed cryptocurrencies. This step will allow the two giant brands to save billions of dollars in transaction fees on traditional payment methods. It is claimed that the companies’ cryptocurrency plans are still in the research phase and may be formalized in the near fGameStop’s Shares Fall Sharply as it Focuses on Bitcoinuture. In addition to Amazon and Walmart, financial giants such as Bank of America and Fidelity are also preparing to issue stablecoins.
Record on the Ethereum network
With institutional demand on the rise, Ethereum has seen a significant acceleration in network activity. The amount of ETH staked on the Ethereum Beacon Chain reached a historic record. Entering the new week, 34.65 million ETH was staked. Since November 10, 2024, Ethereum has reached the highest stake amount, raising expectations. According to on-chain data, almost 30% of the circulating ETH failures have been staked. Experts think that with the increase in institutional demand, the staking rate will increase and the ETH price will experience a big rise.
GameStop shares fell 11.7% in after-hours trading after the company announced a $1.75 billion private convertible senior notes issuance. The move shows that the firm is continuing its strategy of financing through borrowing, which could potentially be used to purchase more Bitcoin. GameStop is sticking to its plan to buy Bitcoin at regular intervals. The gaming company will continue to build reserves regardless of the BTC price. GameStop’s move shows that institutional demand is increasing.
Stablecoin Move in South Korea
South Korea’s newly elected President Lee Jae-myung is rapidly enacting regulations for local stablecoin issuance, one of his election promises. The Democratic Party, which Lee leads, submitted the Digital Asset Basic Law to parliament during the week. This bill aims to make the crypto progress in the country more transparent and competitive, sources said. According to the bill, companies in the country will be able to issue stablecoins if they fulfill the necessary requirements.
Altcoin ETFs Are Coming
After the Spot Bitcoin and Ethereum ETFs, eyes turned to other altcoins. With institutional companies starting to show interest in cryptocurrencies, it has been discussed that ETFs will be launched for the top 10 cryptocurrencies by market capitalization. In particular, it is stated that XRP and Solana ETFs will be launched soon and will be opened to institutions. Bloomberg analysts stated that the probability of ETF approval for Solana and Litecoin is 90 percent. On the other hand, ETFs for cryptocurrencies such as Cardano, XRP and Avalanche are also on the agenda. The approval of the Altcoin Basket ETF, which covers more than one altcoin, may come on July 2, 2025. Analysts claim that a major altcoin rally can be seen with the approval of the ETF in question.
Whales accumulate Ethereum
The price of Ethereum, the pioneer of altcoins, has failed to live up to expectations. ETH has not been able to experience a bull run despite Bitcoin reaching all-time highs on multiple occasions. Ethereum, which is far from its record high, entered the radar of institutions in the third quarter of 2025. With the legalization of staking, companies started to look at Ethereum ETFs. Although the ETH price has failed to rise above $3,000 for the last month, whales have not lost their bullish expectations. According to on-chain data, Ethereum whales have accumulated about 1.5 million ETH in the last 30 days. It is stated that these whales increased their assets by 3.72 percent and will continue to accumulate. Although individual investors are moving away from ETH, institutions and whales continue to buy.
