Coindesk

Savvy bitcoin BTC and ether ETH traders are shoring up their defenses as the broader market continues to foresee bullish price action over the summer.That's the message from an options-based strategy called 25-delta risk reversal, which involves the simultaneous purchase of a put option and sale of a call, or vice versa.At the time of writing, risk reversals based on Deribit-listed bitcoin and ether options indicated that investors were positioning for downside volatility over the summer.BTC's 25-delta risk reversals for June, July, and August tenors were negative, indicating a preference for put options, which offer downside protection, over calls or bullish bets, according to data source Amberdata. In ETH's case, puts were pricier out to the July end expiry.Traders typically...

Solana's native token, SOL SOL, is trading at $140.46, down 1.41% over the past 24 hours, after recovering from a sharp 4.9% decline that took the price from $142.91 to $135.96, according to CoinDesk Research's technical analysis model. The asset has since stabilized between $140 and $142, with support forming at $140.40.Solana’s ecosystem continues to grow, with recent announcements including support for wrapped Bitcoin (WBTC) on the network. Analysts remain divided on the outlook, with some pointing to a potential move toward $200, while others expect a retracement to the $123–$135 range.Technical Analysis HighlightsSOL declined 4.9% from $142.91 to $135.96, establishing a 7.08-point trading range.The asset recovered to form a consolidation pattern between $140 and $142.High-volume support appeared at $140.40...

ARK Invest unloaded another round of shares of Circle (CRCL) across its ETFs just two weeks after the stablecoin issuer's high-profile IPO.The biggest cut came from the flagship ARK Innovation ETF (ARKK), which sold 490,549 shares, or about 1.8% of the portfolio. ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) also reduced exposure, selling 75,018 and 43,608 shares, respectively. Making the total sales worth about $146.3 million, based on the June 20 closing price of $240.28 per share. This marks the third and biggest wave of CRCL share selling since the IPO. Previously, it sold $50 million and $44.7 million worth of shares. The move follows a massive rally in Circle's stock, which debuted at $31...

Cardano’s ADA ADA token came under pressure Saturday, falling to $0.5818 and extending its weekly losses despite renewed focus on the network’s Leios upgrade. ADA declined 3.77% over the past 24 hours, with volume spiking 38.39% above the 7-day average, according to CoinDesk Research's technical analysis model. On Thirsday, Input Output Global (IOG), the research arm behind Cardano, reiterated its vision for the upcoming Leios upgrade via a thread on X. The team explained that Leios is designed to optimize transaction processing and resource utilization, especially during peak block activity. The design introduces new mechanisms like endorsements to maintain security and data availability while boosting overall throughput.Leios was first introduced in November 2022 as a new family variant of Cardano’s...

Ether (ETH) ETH posted a modest recovery on Saturday after a volatile week marked by outsized institutional outflows. On Friday, June 20, spot ETH ETFs listed in the U.S. recorded $11.3 million in net outflows — the largest single-day decline in June, according to data from Farside Investors.The pullback was led by BlackRock’s ETHA ETF, which saw a $19.7 million outflow — its first and only negative flow this month. In contrast, Grayscale’s ETHE product attracted $6.6 million, and VanEck’s ETHV ETF added $1.8 million, partially offsetting losses. No other issuers recorded inflows or outflows.The data suggests large institutions may be reducing their ETH exposure, even as select funds like Grayscale continue to attract capital.The ETF flow figures emerged alongside...