Bearish Crypto Market Brief — June 23, 2026

Bearish Pulse Dominates: Altcoins Signal Danger Amidst Bitcoin Pressure

The crypto market is leaning bearish today. Expect volatility as traders position for further declines amid mixed news.

Macro calendar

Yesterday — what already moved

🔴 High · CAD · 12:30pm — CPI m/m
🔴 High · CAD · 12:30pm — Median CPI y/y
🔴 High · CAD · 12:30pm — Trimmed CPI y/y
🟡 Med · CAD · 12:30pm — Common CPI y/y
🟡 Med · EUR · 1:00pm — ECB President Lagarde Speaks
🟡 Med · EUR · 3:25pm — ECB President Lagarde Speaks

Today — watch list (times in ET)

🟡 Med · EUR · 7:15am — French Flash Manufacturing PMI
🟡 Med · EUR · 7:15am — French Flash Services PMI
🟡 Med · EUR · 7:30am — German Flash Manufacturing PMI
🟡 Med · EUR · 7:30am — German Flash Services PMI
🟡 Med · GBP · 8:30am — Flash Manufacturing PMI
🟡 Med · GBP · 8:30am — Flash Services PMI
🟡 Med · CAD · 1:25pm — BOC Gov Macklem Speaks
🟡 Med · USD · 1:45pm — Flash Manufacturing PMI

Top closed crypto trades (24h)

Asset	Side	PnL	ROI on $700
GUN	SHORT	+$30.00	+4.29%
SAHARA	SHORT	+$22.30	+3.19%
SAHARA	SHORT	+$11.20	+1.60%

Open crypto positions leading right now

Asset	Side	Unrealized PnL	ROI
TAO	SHORT	+$18.10	+2.65%
ENA	SHORT	+$11.18	+2.90%
SKYAI	SHORT	+$10.68	+12.30%
SWARMS	SHORT	+$9.73	+2.00%
PENGU	SHORT	+$7.16	+2.42%

The 'altcoin season' signal flashing amidst Bitcoin's slide is a concerning dichotomy. Historically, an altcoin season is characterized by broader market participation and rising prices across a wide range of digital assets. However, if this signal emerges while BTC is falling, it may indicate a capitulation event for many altcoins rather than broad-based strength. This could also be exacerbated by regulatory developments, such as the US Senate passing a housing bill with a CBDC ban until 2030. While this ban directly impacts potential future central bank digital currencies, it adds to the general uncertainty surrounding digital assets and could indirectly pressure altcoins that rely on speculative inflows.

Bitcoin's fall under $63,000, driven by a tech selloff dragging risk assets lower, highlights the growing correlation between traditional risk-on assets and cryptocurrencies. This suggests that broader macroeconomic trends and sentiment in equity markets are increasingly dictating crypto price action, rather than purely internal project developments. The fact that SpaceX's market value plunge erased nearly half of Bitcoin's market cap in just three days underscores this fragile linkage and the potential for significant, rapid price swings driven by external factors.

The overwhelming bearish sentiment reflected in our Pulse, with a significant short bias across active symbols, suggests continued downside for crypto. This aligns with the broader risk-off sentiment seen in equities. Our open short positions are leading. 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.

CoinDesk — Live updates: An 'altcoin season' signal flashed, but bitcoin's slide is what set it off
CoinDesk — XRP drifts toward $1.10 support as traders await break from three-week range
CoinDesk — SpaceX’s $600 billion plunge erased nearly half of bitcoin’s market cap in three days.
CoinTelegraph — Here’s what happened in crypto today
CoinTelegraph — US Senate passes housing bill with CBDC ban until 2030
CoinDesk — Bitcoin falls under $63,000 as a tech selloff drags risk assets lower
CoinDesk — Trump signs orders to build a quantum computer and protect against the one that could break encryption
CoinTelegraph — Crypto lobby urges Congress pass staking and mining tax bill as is
CoinTelegraph — Trump signs orders for quantum computer, cryptography upgrades
CoinTelegraph — Bitmine, Sharplink and Joe Lubin back Ethereum R&D nonprofit