Bearish Crypto Market Brief — June 20

Bearish Crypto: Mining Woes and Regulatory Clouds Gather

Crypto markets are showing a bearish bias today. Watch for continued pressure as mining costs bite and regulatory developments unfold. Sentiment leans towards caution.

Macro calendar

Yesterday — what already moved

🟡 Med · GBP · 6:00am — Retail Sales m/m

Top closed crypto trades (24h)

Asset	Side	PnL	ROI on $700
LYN	LONG	+$39.40	+5.63%
USELESS	SHORT	+$14.80	+2.11%
SAHARA	SHORT	+$11.90	+1.70%

Open crypto positions leading right now

Asset	Side	Unrealized PnL	ROI
PIPPIN	SHORT	+$15.70	+8.49%
ZRO	SHORT	+$15.67	+5.59%
WLD	SHORT	+$5.24	+1.37%
DOGE	SHORT	+$5.07	+1.75%
SAHARA	SHORT	+$4.24	+1.44%

JPMorgan's assessment that Bitcoin mining costs have "worsened" is a significant bearish signal, especially with BTC trading below production cost. This could pressure miners to sell holdings, increasing BTC supply and potentially driving down prices. The looming $13B Bitcoin options expiry also adds a layer of uncertainty, potentially amplifying downside if bullish bets are liquidated.

Meanwhile, the crypto industry is bracing for the EU's MiCA license deadline as WhiteBIT secures theirs in Austria. While a positive regulatory step for some, news of a proposed insider trading bill for lawmakers involving prediction markets highlights ongoing regulatory scrutiny. This, coupled with Charles Schwab's move into S&P 500 prediction markets, underscores a complex regulatory and competitive landscape that could impact digital asset integration.

The crypto Pulse indicates a bearish bias, reinforced by news of rising mining costs and recent winning short trades. With stocks leaning bullish, traders should remain vigilant. Explore Radiant's diverse range of explore Radiant algorithms.

Sources tracked

Headlines from the last 24h were aggregated and analysed from CryptoPanic, CoinDesk, CoinTelegraph, Decrypt and Bitcoin Magazine. We summarise market-moving facts in our own words; we do not republish third-party content.

CoinTelegraph — Crypto kidnappers who robbed a Minnesota family of $8M plead guilty
CoinTelegraph — S token drops 5% as 3 former execs resign from Sonic Labs board
CoinTelegraph — Charles Schwab to enter prediction markets with S&P 500 wagers: WSJ
CoinTelegraph — Here’s what happened in crypto today
CoinTelegraph — $13B Bitcoin options expiry looms: Will bulls endure more pain in June?
CoinTelegraph — WhiteBIT secures MiCA license in Austria ahead of July 1 EU deadline
Decrypt — Charles Schwab Planning to Roll Out S&P 500 Prediction Markets With Cboe: WSJ
Decrypt — House Republican Introduces Insider Trading Bill to Ban Lawmaker Prediction Market Bets
Bitcoin Magazine — JPMorgan: Bitcoin Mining Costs Have ‘Worsened’ as BTC Trades Below Production Cost
CoinTelegraph — Republican lawmaker proposes prediction markets insider trading ban, not including White House officials