Bitcoin is heading toward the end of June with traders focused on a potential make-or-break area near $60,000—an important level that bulls have struggled to defend as bearish momentum has carried into the second quarter. At the same time, several widely watched momentum and onchain signals are flashing early “stabilization” clues that could complicate the bearish narrative.

Technical traders point to bullish divergences in RSI across multiple time frames, while onchain analytics from CryptoQuant highlights a “first bottoming flag” tied to how broadly Bitcoin’s unspent outputs remain in profit versus loss. Separately, macro traders are preparing for a tight window of economic releases—especially the U.S. manufacturing PMI—and the market’s sensitivity to U.S. labor data and geopolitical developments.

Key takeaways

• RSI divergences are appearing across several time frames in Bitcoin’s charts, an indication that selling pressure may be losing traction.
• June’s performance has been weak—CoinGlass data cited in the report shows nearly a 19% loss for BTC/USD in June, its worst since the 2022 bear market.
• Traders are comparing the current $60,000 test to prior bear-market behavior, arguing that support often breaks only after repeated attempts.
• CryptoQuant says a UTXO profitability indicator is at its lowest level since 2022, suggesting an early stage of internal “market clean-up.”
• Seasonality research cited by traders suggests July has historically been a better month than June in many years, though outcomes can vary.

RSI divergences revive recovery odds as June nears its close

As June approaches its end, analysts and traders are watching whether Bitcoin can hold a key structural level. According to TradingView data cited in earlier coverage, RSI signals across multiple time frames are showing bullish divergences—instances where price behavior and momentum diverge in a way that historically can precede reversals or at least a pause in decline.

Cointelegraph previously reported that RSI cues across time frames are aligning into bullish divergences with price as June ends. The article also referenced a comment from Bitcoin whale “Gerla” (CryptoGerla) on X, saying the four-hour chart is showing a bullish RSI divergence while a potential double bottom forms.

Other traders have emphasized that such divergence signals have not consistently appeared in prior dips during 2026. Pseudonymous commentator “Heisenberg” noted on X that recent oversold RSI divergences had not shown up in the same way during earlier drops—until the current setup—suggesting the present decline may be maturing rather than simply accelerating.

Still, the presence of divergences is not the same as confirmation. The same coverage points out that $60,000 has increasingly acted as resistance, with bulls unable to push through decisively—an issue that keeps traders wary of a breakdown scenario heading into month-end.

Why $60,000 matters: the “mid-2022” support test comparison

One reason traders treat the $60,000 level as more than just a psychological number is historical patterning. In the source reporting, commentators compared the current situation to 2022, when Bitcoin repeatedly interacted with the $30,000 area before it finally failed and later produced a bear-market low.

CoinGlass data cited in the article places Bitcoin’s June drawdown at nearly 19% for BTC/USD—described as the worst since the 2022 bear market and the sharpest performance so far this year. That framing matters because it puts current price weakness into context: the market is not just drifting lower, it is experiencing a month that resembles the intensity of prior major risk-off phases.

On X, commentator “Exitpump” argued that significant support and resistance levels rarely break on the first attempt, often requiring repeated tests before momentum flips decisively. The same post likened the current $60,000 dynamics to the way $30,000 behaved earlier in the 2022 cycle. Importantly, the argument here is conditional: even if June is fragile, it may not be a single-day event that determines the next trend leg.

Macro pressure points: PMI, labor data, and geopolitical risk

Even with technical setups improving, Bitcoin’s short-term direction often depends on what happens in U.S. economic data. The source highlights a “short but busy” four-day trading week ending Q2, with the manufacturing PMI as a potential swing factor.

According to the report, the Institute for Supply Management (ISM) is set to publish the manufacturing Purchasing Managers Index (PMI) on Wednesday. The source notes that the PMI has been breaking out from a multiyear downtrend and that estimates call for a score around the mid-50s, with a possible mild decrease versus the prior month. In prior coverage, Cointelegraph had described PMI strength as a potential tailwind for crypto markets.

Thursday’s June nonfarm payrolls report is another key focus. As trading resource The Kobeissi Letter summarized in a thread on X, the market is also set to react to geopolitical developments as the U.S. and Iran agree to discuss their fragile peace agreement. The same note tied the week’s schedule to the end of Q2, with earnings season on the horizon—factors that can amplify cross-asset volatility.

The report also stresses that Bitcoin’s correlation with equities has been inconsistent in recent months, and it includes an example of trader Daan Crypto Trades pointing to BTC versus the S&P 500 returning to a level seen during earlier risk-stress periods. That matters for investors because it implies the market may not be moving in a straight line with stock indices—meaning both crypto-specific and macro drivers can compete.

Seasonality and “first bottoming flag” signals: early stabilization vs. full reversal

Two separate narratives are being used to explain why July could look different from June. The first is historical seasonality. The source cites research shared by Rekt Capital on X, arguing that in previous years July has often offset June’s weakness—sometimes followed by August weakness that cancels July’s upside. CoinGlass data referenced in the article supports this pattern by showing only a few exceptions since 2013, while 2025 is noted as a case where both months finished green.

The second narrative is onchain. The report highlights a CryptoQuant QuickTake post by contributor I. Moreno, who described an “early clear sign” of deeper market clean-up. Moreno focuses on the UTXO Block P/L Count Ratio Model, an indicator that compares how blocks of unspent outputs are distributed between profit and loss across the network.

In Moreno’s explanation as quoted in the source, a high ratio can indicate many UTXO blocks still sit in profit—often associated with higher distribution risk. When the ratio falls toward lower ranges, profitability compresses, losses spread more widely, and the market enters a more advanced reset phase.

The report states that the ratio is currently 5.9, described as the lowest since 2022 and one of the lowest readings on record, which Moreno called Bitcoin’s “first bottoming flag” of the current bear market. However, the same source cautions that this may only indicate the start of internal reset rather than the completion of a full bottom—history suggests additional stress absorption may still be required.

What this combination of signals implies is not certainty, but a shift in balance: momentum indicators are improving at the same time an onchain metric suggests distribution pressure may be moving into an earlier phase of exhaustion. The unresolved question is whether $60,000 holds long enough for those signs to translate into a sustained reversal.

Going forward, traders and investors should watch month-end price acceptance around $60,000, the immediate reaction to U.S. PMI and labor data, and whether the RSI divergences persist as July starts—alongside onchain follow-through on the “bottoming flag” theme highlighted by CryptoQuant.

Ethereum co-founder Vitalik Buterin published a technical essay outlining how cryptography could one day enable people to vote privately onchain without relying on a trusted group to manage ballots or reveal the result. 

In a blog post on Monday, Buterin said a cryptographic approach called indistinguishability obfuscation (iO), combined with blockchain infrastructure, could support private and collusion-resistant voting with “almost no trust assumption.” The approach would replace threshold committees, which jointly decrypt voting data, with protected programs designed only to reveal the outcome. 

Private onchain voting remains dependent on groups of operators safeguarding information and behaving honestly. Removing that dependency could make decentralized governance harder to manipulate, reduce the risk of insider interference and allow voters to participate without exposing how they voted, according to Buterin. 

However, Buterin said the technology remains impractical. He said the most conservative constructions require what he described as “galactic” amounts of computation. He said faster approaches rely on less-tested security assumptions, which means that the idea presents a more long-term research direction rather than a deployment-ready system. 

Source: Vitalik Buterin

How indistinguishability obfuscation could protect onchain votes

According to Buterin, iO is a form of cryptography that turns software into a protected program. People can run the program and receive the intended output, but they cannot inspect its internal code or extract the data stored inside it. Buterin described the concept as hiding the code rather than the information being processed. 

For onchain voting, Buterin said an obfuscated program could contain the logic needed to process encrypted ballots and reveal the final tally without exposing individual votes, essentially removing the need for a threshold committee whose members collectively hold the keys required to decrypt the result. 

Buterin said blockchains would still play a key role because an obfuscated program cannot prevent itself from being copied or independently maintain changing information. 

Related: Ethereum whale who shorted October 2025 crash opens $19.7M ETH short position

Buterin’s broader privacy push

Buterin previously connected iO with private voting in his Ethereum roadmap published in October 2024. He said the approach could provide stronger privacy and resistance to coercion. His latest essay expands on that earlier proposal by examining how the underlying cryptography could be constructed, the security assumptions it requires and the technical barriers preventing it from becoming practical.

In April 2025, Buterin proposed a more immediate privacy roadmap for Ethereum, calling for privacy tools to be integrated into existing wallets. The proposal also advocated for stronger protections against data collection by infrastructure providers that wallets use to access Ethereum. 

Buterin also drew funding from his personal holdings to fund privacy-preserving technologies. On Jan. 30, he earmarked 16,384 Ether (ETH), worth about $45 million at the time, to fund initiatives focused on privacy, open infrastructure and self-sovereign tools. 

Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express

Key Highlights

• Verizon shares gained following announcement of strategic BT partnership worth $4B.

• Equal ownership structure establishes balanced control between both telecom leaders.

• Combined platform will deliver services to 3,000 enterprise customers in over 180 nations.

• Agreement includes $625M equalization payment from Verizon to BT.

• Industry veteran Martijn Blanken selected to helm the new enterprise entity.

Shares of Verizon Communications (VZ) experienced upward movement following the revelation of a strategic international partnership with BT Group. The telecommunications giants unveiled plans for an equally controlled enterprise joint venture that merges their worldwide corporate operations. The initiative focuses on delivering services to multinational corporations operating in more than 180 nations. Verizon’s stock finished trading at $46.54, representing a 1.02% increase, though pre-market activity showed a modest 0.30% decline to $46.37.

Verizon Communications Inc., VZ

Telecommunications Powerhouses Forge International Enterprise Alliance

BT Group and Verizon have agreed to merge their worldwide corporate operations into a single jointly managed entity. The arrangement establishes equal governance rights for both telecommunications providers. As part of the financial terms, Verizon will transfer an equalization sum of $625 million to BT.

The newly formed organization will cater to over 3,000 corporate clients spanning international territories. Combined yearly revenues are projected to reach approximately $4 billion. This strategic alliance provides both corporations with an expanded infrastructure for delivering enterprise connectivity solutions.

According to company statements, the framework will enable multinational corporations to access protected communication and networking capabilities. The partnership merges BT International with Verizon’s overseas enterprise wireline division. Consequently, the operation will emphasize international connectivity, cloud-based networks, and regulatory compliance services.

Partnership Delivers Enhanced Scale for Corporate Network Services

The collaborative enterprise focuses on corporations requiring protected worldwide networks spanning diverse geographic areas. It will address data management, operational demands, and compliance standards for large-scale organizations. Furthermore, both companies anticipate that the unified network infrastructure will generate operational efficiencies following completion.

The entity will be legally established in the Bailiwick of Jersey. Nevertheless, primary operations and tax residency will be maintained in the United Kingdom. The venture will also establish commercial arrangements with both founding organizations after finalization.

BT and Verizon will maintain direct service to their respective home markets while backing the new corporate platform. BT will concentrate on its United Kingdom initiatives, while Verizon will continue direct customer service within United States territories. This organizational approach enables both corporations to streamline overseas operations while preserving dominance in core markets.

Industry Veteran Martijn Blanken Tapped as Future Leader

BT and Verizon have designated Martijn Blanken as the prospective chief executive officer of the collaborative venture. His official appointment is contingent upon successful completion of the agreement. Blanken is scheduled to join BT on September 1, 2026, ahead of the anticipated launch date.

Blanken brings extensive experience from senior positions throughout telecommunications, technology, and digital infrastructure sectors. His professional background encompasses executive leadership at Telstra, Openwave Systems, EXA Infrastructure, and KPN. The partners chose an executive with substantial expertise managing international network operations.

Clive Selley will maintain his position as chief executive of BT International throughout the transition period. Verizon’s management framework will continue without modification. Both international divisions will function autonomously until regulatory authorities approve the transaction.

Agreement Awaits Regulatory Clearance Process

The partnership remains subject to regulatory approvals and mandatory employee consultations in applicable jurisdictions. During this interim period, BT and Verizon will maintain separate operations for their international businesses. Both organizations have committed to upholding service obligations to existing customers throughout the approval process.

Goldman Sachs served as primary financial advisor to BT throughout the transaction. Deloitte provided transaction services advisory support, while Freshfields LLP delivered legal representation. Morgan Stanley advised Verizon, with Kirkland & Ellis LLP serving as its legal counsel.

The arrangement provides Verizon with enhanced positioning in worldwide enterprise connectivity markets. It simultaneously enables BT to restructure its international operations under a more concentrated framework. The transaction must successfully navigate the requisite approval procedures before the venture commences active operations.

As the chart shows, AUD/USD has entered a distinctly bearish phase in recent weeks, reflecting the broader consolidation — and in some cases outright weakness — that the US dollar has begun imposing across most major currency pairs.

Fundamental Analysis

The Reserve Bank of Australia concluded its June meeting by holding the cash rate steady at 4.35%, opting to monitor the effects of the three consecutive hikes already delivered since the start of the year. The board acknowledged that financial conditions have tightened and that the economy is showing early signs of slowing, while maintaining a vigilant stance on inflation, which remains above target.

In theory, a pause after a tightening sequence — with a cash rate at 4.35%, the highest in the G10 — is a structurally supportive signal for the Australian dollar, as elevated rate differentials tend to attract flows toward AUD-denominated assets. However, markets had already fully priced in this outcome, stripping the decision of any surprise. AUD/USD has consequently failed to post any meaningful bullish impulse, sliding toward almost three-month lows near 0.6890, weighed down by renewed US dollar strength on growing Federal Reserve rate hike expectations. Adding further complexity to the outlook, the ongoing Middle East conflict continues to weigh on global risk sentiment, acting as an additional headwind for a currency that markets have long treated as a barometer of global risk appetite.

Technical Analysis

The most representative benchmark for the Australian dollar’s momentum, AUD/USD seems to have already shifted his path. Following a prolonged period of broad greenback strength, the pair has gradually developed a bearish structure over recent weeks.

→ Bullish scenario: a key support zone sits in the 0.6880–0.6850 area. Should this level hold, it could restore some of the strength lost in recent weeks and bring the pair back to test the resistance between 0.6980 and 0.7000 — a threshold that will be decisive for the next directional move. A sustained recovery would also require a more relaxed geopolitical backdrop, as risk sentiment continues to cap AUD’s upside potential.

→ Bearish scenario: should support fail to hold — or should the pair test the descending trendline in play and reject it, confirming the prevailing downtrend — AUD/USD could revisit levels last seen at the start of the year, with the 0.6700–0.6600 zone as the next significant area of interest.

With a more relaxed geopolitical environment and a hawkish central bank behind it, will the Australian dollar manage to reclaim its strength on the forex stage?

Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips (additional fees may apply). Open your FXOpen account now or learn more about trading forex with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Key Takeaways

• Precious metal declined more than 1% on Monday, approaching $4,000 per ounce following renewed military exchanges between the US and Iran
• Washington and Tehran have committed to suspending hostilities and will convene for diplomatic discussions in Doha this Tuesday
• The yellow metal has surrendered approximately 23% of its value since joint US-Israeli military operations against Iran commenced in late February
• Derivative markets indicate over 30% probability of Federal Reserve rate increases before 2026 concludes
• Critical employment statistics scheduled for release this week may shape the central bank’s policy direction

Renewed military confrontations between Washington and Tehran during the weekend drove precious metal valuations downward on Monday, bringing the commodity close to the $4,000 threshold as inflationary pressures re-emerged in financial markets.

Spot bullion decreased 1.1% to $4,043.62 per ounce during early Asian trading sessions. Futures contracts for gold retreated 1% to $4,056.77.

The United States and Iran engaged in military operations across the Persian Gulf throughout the weekend, undermining a temporary cessation of hostilities that had previously stabilized energy commodity markets. A vessel transporting Qatari petroleum was damaged during these confrontations, interfering with maritime traffic through the Strait of Hormuz.

Notwithstanding the escalating tensions, both nations have committed to cease military operations. Diplomatic representatives are scheduled to convene in Doha on Tuesday, as reported by Axios through confidential government sources.

Bullion Weakens Under Rate Expectations and Dollar Strength

Gold has experienced sustained downward momentum for several months. The precious metal has depreciated roughly 23% since coordinated US-Israeli strikes against Iranian targets began in late February.

Elevated energy commodity valuations stemming from the regional conflict have accelerated inflationary trends, prompting market participants to anticipate prolonged restrictive monetary policies from central banking institutions. This dynamic has particularly disadvantaged gold, which generates no income for holders.

Derivative market pricing currently reflects greater than 30% likelihood of Federal Reserve rate increases materializing before the conclusion of 2026, based on CME Fedwatch analytics.

A robust American currency combined with elevated Treasury bond yields have compounded downward pressure. The Federal Reserve’s June policy meeting conveyed a restrictive stance, while recent inflation measurements registered elevated levels, though consistent with analyst projections.

The central bank’s preferred inflation metric, the personal consumption expenditures price index, advanced 0.4% during May. Government bond yields experienced modest declines following that data release.

Additional precious metals similarly declined on Monday. Silver retreated 1.8% to $58.11 per ounce. Platinum decreased 0.4% to $1,612.20.

Employment Report Poised to Dominate Market Attention This Week

Market participants are monitoring numerous economic indicators scheduled for release this week to assess future monetary policy trajectories.

Japanese manufacturing output figures, Chinese purchasing managers surveys, and European inflation measurements are all anticipated.

However, the primary focus remains the United States nonfarm payrolls report covering June. Resilient labor market conditions would provide the Federal Reserve additional justification for implementing rate increases.

Any indication that employment growth maintains momentum could accelerate gold’s decline, as elevated borrowing costs amplify the opportunity cost of maintaining non-income-producing assets such as bullion.

The diplomatic negotiations scheduled in Doha on Tuesday will also command significant attention. A sustainable peace agreement could alleviate energy price pressures and diminish inflationary expectations, fundamentally altering the trajectory for gold.

Currently, the metal remains confined near multi-month lows, suspended between geopolitical instability and the probability of ascending interest rates.

Key Highlights

• HPQ stock experiences modest gains following announcement of enhanced OpenAI collaboration.

• Company deploys AI solutions to accelerate customer service and partner engagement.

• OpenAI Frontier platform to power HP’s operational infrastructure and workforce tools.

• Initiative includes advanced governance frameworks and enterprise-grade data management.

• Partnership aligns with HP’s comprehensive workplace transformation and AI hardware initiatives.

HP Inc. (HPQ) announced an expansion of its collaboration with OpenAI, integrating artificial intelligence capabilities throughout its business operations as HPQ stock demonstrated modest upward movement. The technology giant will leverage OpenAI’s Frontier platform to enhance customer engagement, strengthen partner relationships, boost employee efficiency, and accelerate software innovation. HPQ shares settled at $22.88, declining 0.17%, though pre-market activity showed improvement with prices reaching $22.97.

HP Inc., HPQ

HP Integrates AI Technology Throughout Customer And Partner Ecosystems

HP outlined plans to transform operational processes across its worldwide infrastructure through this strategic alliance. The technology company intends to integrate AI capabilities with retail locations, partner platforms, messaging services, and voice communication channels. Consequently, both customers and business partners should experience accelerated support delivery and enhanced workflow clarity.

According to the company’s statement, Frontier will enable more unified interactions across multiple customer engagement platforms. HP intends to deploy the technology for standard operations, problem-solving workflows, and technical assistance. Furthermore, the organization anticipates AI-driven tools will enhance analytics capabilities and customer data monitoring.

This implementation follows an evaluation period that commenced in February 2026. Throughout this testing phase, HP assessed Frontier’s technological capabilities, security architecture, platform functionality, and enterprise compatibility features. Following successful pilot programs, HP committed to a comprehensive strategic alliance with OpenAI.

OpenAI Frontier Powers HP’s Enterprise-Wide Digital Evolution

HP represents among the initial major multinational corporations to implement OpenAI’s Frontier platform across enterprise-level operations. The organization intends to optimize applications as the collaboration expands throughout various divisions. Target areas encompass customer assistance, partner enablement, workforce efficiency, and application development.

HP additionally intends to jointly create emerging AI applications with OpenAI. Nevertheless, these solutions must satisfy HP’s stringent requirements for data connectivity, oversight protocols, and security measures. Accordingly, the collaboration emphasizes both operational effectiveness and regulated enterprise implementation.

The organization positions AI as a fundamental operational infrastructure throughout its enterprise. This methodology transitions AI from experimental projects into comprehensive internal platforms and customer-facing operations. It further demonstrates HP’s extensive initiative to embed AI within routine business functions.

HP Advances Workplace Evolution Through AI Hardware And WXP Solutions

HP connected the OpenAI collaboration to its comprehensive workplace modernization vision. The corporation anticipates collaborative interactions between personnel and AI systems throughout professional settings. HP is engineering autonomous AI hardware designed to integrate with current organizational infrastructure.

The company additionally plans equipment featuring specialized processors for persistent AI computation. These offerings address operations requiring uninterrupted processing capabilities and dependable local performance. Ultimately, HP seeks to position AI functionality closer to employee work locations.

HP’s Workforce Experience Platform complements this organizational approach. The system coordinates entire inventories of personal computers, professional workstations, printing equipment, and teamwork technologies through a unified dashboard. Through OpenAI Frontier and WXP integration, HP pursues expanded AI-enabled workflows spanning customers, partners, and workforce members.