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What to know:

By Omkar Godbole (All times ET unless indicated otherwise)

"Always fade geopolitics," the founders of the LondonCryptoClub newsletter said Monday as bitcoin fell below $100,000 after Iran fired missiles at U.S. airbases in the Middle East.

It looks like they were right. BTC quickly reversed its drop and has since topped $105,000, restoring spirits in the broader market, where VIRTUAL, JUP and SEI are flashing gains of over 20%, according to CoinDesk data.

The path of least resistance appears to be to the higher side, with President Donald Trump announcing a ceasefire between Israel and Iran, although unconfirmed reports of fresh aggression by Tehran and a response from Jerusalem introduce a note of caution.

Also supporting a gain: At least two Fed members appointed by Trump are now leaning in favor of a rate cut next month and the U.S. Federal Housing Finance Agency is studying the use of crypto holdings in the mortgage qualification process.

Anthony Pompliano's ProCap Financial plans to go public through a merger with Columbus Circle Capital, with a focus on bitcoin asset management and revenue generation.

"While the ceasefire optimism is driving short-term gains, the risk of renewed tensions remains elevated," Valentin Fournier, the lead research analyst at BRN, said in an email. "That said, ETF inflows and ProCap’s IPO signal growing institutional demand, even near cycle highs — a strong vote of confidence for long-term upside."

The U.S. Federal Reserve removed the concept of “reputational risk” from its formal bank supervision program, supposedly easing crypto banking restrictions. Bloomberg reported that VMS Group, a multifamily office with just under $4 billion in assets under management, is considering a $10 million allocation to strategies managed by decentralized finance hedge fund Re7 Capital.

In traditional markets, the dollar index fell to 98, extending Monday's sell-off, while the price of gold dropped to its 50-day simple moving average at $3,318. Nasdaq futures chalked out a golden crossover, offering bullish cues to the crypto market. Stay alert!

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Crypto

• June 25: ZIGChain (ZIG) mainnet will go live.
• June 30: CME Group will introduce spot-quoted futures, pending regulatory approval, allowing trading in bitcoin, ether and major U.S. equity indices with contracts holdable for up to five years.

Macro

• June 24, 8:30 a.m.: Statistics Canada releases May consumer price inflation data.
  • Core Inflation Rate MoM Prev. 0.5%
  • Core Inflation Rate YoY Prev. 2.5%
  • Inflation Rate MoM Est. 0.5% vs. Prev. -0.1%
  • Inflation Rate YoY Est. 1.7% vs. Prev. 1.7%
• June 24, 10 a.m.: Fed Chair Jerome H. Powell testifies before the U.S. House Financial Services Committee on the semiannual monetary policy report. Livestream link.
• June 24, 10 a.m.: The Conference Board (CB) releases June U.S. consumer confidence data.
  • CB Consumer Confidence Est. 99.8 vs. Prev. 98
• Day 1 of 2: North Atlantic Treaty Organization (NATO) Summit in The Hague, the Netherlands, where heads of state, foreign and defense ministers of 32 allies and partners will meet to discuss security, defense spending and cooperation.
• June 25, 10 a.m.: Fed Chair Jerome H. Powell testifies before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on the semiannual monetary policy report. Livestream link.
• June 26, 8:30 a.m.: The U.S. Census Bureau releases May manufactured durable goods orders data.
  • Durable Goods Orders MoM Est. 7.2% vs. Prev. -6.3%
  • Durable Goods Orders Ex Defense MoM Prev. -7.5%
  • Durable Goods Orders Ex Transportation MoM Est. 0.1% vs. Prev. 0.2%
• June 26, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases (final) Q1 GDP data.
  • GDP Growth Rate QoQ Final Est. -0.2% vs. Prev. 2.4%
  • GDP Price Index QoQ Final Est. 3.7% vs. Prev. 2.3%
  • GDP Sales QoQ Final Est. -2.9% vs. Prev. 3.3%
• June 26, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended June 21.
  • Initial Jobless Claims Est. 247K vs. Prev. 245K
  • Continuing Jobless Claims Prev. 1945K
• June 26, 3 p.m.: Mexico's central bank, the Bank of Mexico, announces its interest rate decision.
  • Overnight Interbank Target Rate Est. 8% Prev. 8.5%

Earnings (Estimates based on FactSet data)

• None in the near future.

Governance Votes & Calls

Unlocks

Token Launches