Americas Crypto Daybook: Bitcoin Achieves Record Monthly Close, but Euro Takes Center Stage

By Omkar Godbole (All times ET unless specified) Bitcoin (BTC) concluded June with a record monthly close above $107,000, at $85,329.70, but its 2.5% monthly increase was eclipsed by the euro's nearly 4% gain against the US dollar. This significant advance led some traders to favor euro-pegged stablecoins, resulting in a substantial increase in their market value. The euro's momentum underscores the ongoing broad decline of the US currency, suggesting that financial conditions are likely to remain favorable. However, this weakness has not significantly impacted the directionless Bitcoin. The prolonged range-bound trading has been largely attributed to profit-taking by long-term holders. On Monday, on-chain realized gains reached $2.4 billion, with BTC trading 0.6% lower at $106,500. Other tokens like XRP, DOGE, SOL, and ETH followed suit, while BCH, ALGO, and PAXG stood out as exceptions. Some analysts advise patience, citing continued institutional adoption. Germany's savings bank network announced plans to enable crypto trading for clients within a year, and Strategy disclosed a significant BTC purchase of $531 million last week. According to Valentin Fournier, lead research analyst at BRN, 'While short-term momentum has faded, medium-term signals remain bullish, especially with corporate treasuries accelerating their accumulation pace. We have slightly reduced exposure to protect capital but remain constructive, particularly on altcoins with room to catch up.' Historically, the third quarter has been Bitcoin's weakest, and summer holidays often lead to weaker liquidity, increasing the likelihood of exaggerated price movements. This calls for caution, even as analysts maintain a long-term constructive outlook. In other news, American Bitcoin, a crypto firm backed by Eric Trump, raised $220 million to purchase bitcoin and mining equipment. An FTX creditor reported receiving 120% payouts in February and May 2025 for claims under $50,000. Bloomberg ETF analysts James Seyffart and Eric Balchunas believe there's a 95% chance the US SEC will approve spot ETFs for LTC and XRP this year. In traditional markets, analysts await Fed Chairman Jerome Powell's speech and Friday's nonfarm payrolls. Stay alert for market developments. Key events to watch include token events, conferences, and the CoinDesk Policy & Regulation conference on September 10. Use code CDB10 for a 10% discount on registration through July 17.