Key Takeaways

• ACN shares plummeted 18% immediately following fiscal Q3 earnings, finishing the week down approximately 25% in the company’s worst-ever weekly decline
• TD Cowen downgraded the stock to Hold from Buy, reducing its price target from $258 to $150
• New bookings contracted 3% quarter-over-quarter, with executives attributing the decline to major deals being postponed to fiscal 2027
• Both Truist and Jefferies lowered their price targets, with Truist noting approximately $100M in revenue headwinds from Middle East geopolitical tensions
• Fourteen analysts have reduced earnings projections; while no analysts currently recommend selling ACN, none identify immediate catalysts for recovery

Accenture (ACN) shares were hovering around $120–$123 on Monday, continuing a devastating selloff from last week that erased nearly 25% of the stock’s value — marking the most severe weekly decline in company history.

Accenture plc, ACN

The collapse started Thursday when ACN plunged 18% to close at $127.98 following the release of fiscal Q3 earnings. The company reported revenue of $18.7 billion, narrowly missing the consensus estimate of $18.78 billion, while adjusted earnings per share of $3.80 exceeded the $3.72 projection. However, the earnings beat failed to compensate for disappointing forward guidance and a 3% sequential decline in new bookings.

TD Cowen analyst Bryan Bergin spearheaded Monday’s analyst downgrades, reducing ACN from Buy to Hold and slashing his price target from $258 down to $150.

“Our thesis anticipating stability before eventual recovery proved incorrect,” Bergin acknowledged. He stated there was no defensible justification for maintaining a positive recommendation “given the deteriorating fundamentals.”

The bookings shortfall proved most concerning. Bergin characterized the 3% decline as completely unexpected — his forecast had anticipated at least marginal growth.

Company leadership attributed the weakness to multiple large contracts being deferred into fiscal 2027. However, Bergin observed that even accounting for an estimated $1 billion in timing-related shortfalls, managed services bookings would still have registered negative growth — an outcome he believes would have disappointed investors regardless.

Wall Street Continues Slashing Price Targets

Truist Securities reduced its price objective to $150 from $210 while maintaining a Hold rating. The firm highlighted approximately $100 million in revenue disruption stemming from Middle East geopolitical instability, with impacts anticipated to persist through Q4 and possibly longer.

Truist had previously downgraded ACN several weeks ago, citing constrained client budgets, AI-related revenue displacement, and geopolitical uncertainties. Spillover effects from Iranian tensions emerged during the closing weeks of Q3, and the firm anticipates further lengthening of client decision timelines.

Jefferies analyst Surinder Thind likewise trimmed his price target, lowering it to $130 from $185 while retaining his Hold stance. He had identified weakening demand trends as early as March. Thind pointed to reduced revenue and earnings forecasts for calendar year 2027 and emphasized that geopolitical pressures are compounding already subdued discretionary technology spending.

RBC Capital decreased its target to $175 from $253. Guggenheim made a smaller adjustment to $185 from $225 while preserving its Buy recommendation.

Current Analyst Consensus

Among 30 firms monitored by FactSet, 17 maintain Buy or Overweight ratings on ACN. The other 13 assign Hold ratings. Currently, zero analysts rate the stock as a Sell.

Nevertheless, 14 analysts have lowered their earnings projections for the coming period, according to InvestingPro data. The stock is trading near its 52-week low of $125.60, with RSI indicators suggesting the shares have entered oversold conditions.

CEO Julie Sweet identified Middle East geopolitical tensions as a contributing factor to quarterly underperformance. The company has simultaneously maintained its acquisition strategy focused on cybersecurity capabilities and established partnerships with OpenAI and Anthropic to develop agentic AI solutions.

ACN stock was changing hands at $120.85 Monday afternoon, declining approximately 5.6% for the session.

Bitmine Immersion Technologies said its ETH holdings reached 5.67 million tokens as of June 21, 2026. The company also reported total crypto, cash, marketable securities, and selected investments of $10.7 billion. Bitmine said its Ethereum position equals about 4.7% of the total ETH supply. The update keeps BMNR positioned as the largest public Ethereum treasury, according to the company.

Bitmine Reports $10.7 Billion in Total Holdings

Bitmine said its crypto holdings included 5,672,956 ETH and 205 Bitcoin. The company valued ETH at $1,733 per token based on Coinbase pricing at the reporting time. It also listed $601 million in cash and marketable securities.

The company included a $180 million stake in Beast Industries and a $104 million stake in Eightco Holdings. Bitmine said Eightco gives investors indirect exposure to OpenAI through one of the few public equity routes available. These holdings formed part of the company’s reported $10.7 billion total.

Bitmine also said it owns 4.7% of Ethereum’s 120.7 million coin supply. The company continues to target 5% of total ETH supply under its “Alchemy of 5%” plan. Chairman Thomas Lee said Bitmine acquired 52,203 ETH over the past week.

Key Insight

• Bitmine reported 5.67 million ETH holdings, equal to 4.7% of Ethereum’s total coin supply today.
• The company said total crypto, cash, securities, and selected investments reached $10.7 billion this week.
• Bitmine staked 4.71 million ETH through MAVAN and partners, representing over 83% of holdings now.
• BMNR raised about $273.8 million from its Series A preferred stock offering this month alone.
• Bitmine said it acquired 52,203 ETH last week while maintaining its 2026 accumulation strategy plan.

BMNR Expands Ethereum Staking Through MAVAN

Bitmine said it staked 4,718,677 ETH as of June 21. That figure represented more than 83% of its total ETH holdings. The company valued the staked ETH at about $8.2 billion using the same $1,733 ETH price.

The company runs staking through MAVAN, its Made in America Validator Network. Bitmine built MAVAN to support its own Ethereum treasury. The company also plans to expand the platform for institutional investors, custodians, and ecosystem partners.

Lee said Bitmine’s current annualized staking revenue stands near $223 million. He also said projected annual staking rewards could reach $268 million when Bitmine fully stakes ETH through MAVAN and partners. Bitmine reported a 2.73% annualized seven-day yield from its own staking operations.

Preferred Stock and Trading Activity Add Context

Bitmine closed an offering of 3.5 million shares of 9.50% Series A Perpetual Preferred Stock on June 10. The company priced the shares at $80 each and received about $273.8 million in net proceeds. The preferred stock trades on the NYSE under the symbol BMNP.

Bitmine said BMNP dividends are scheduled for weekly payment under the terms of the preferred stock. The company also said its board declared seven weekly cash dividends on the outstanding preferred shares. The payment dates depend on the stated record dates for each dividend.

The company also pointed to strong trading activity in BMNR shares. Fundstrat data showed the stock traded about $717 million in average daily dollar volume over four days ending June 18. That placed BMNR at number 219 among 5,704 U.S.-listed stocks by average daily dollar volume.

Bitmine also said Fortune placed the company on its 2026 Fortune 100 Crypto List on June 11. The company described its current position as the largest ETH treasury and the second-largest global crypto treasury behind Strategy. Strategy reportedly holds 846,842 BTC valued at about $54 billion.

Federally chartered crypto bank Anchorage Digital is rolling out infrastructure that allows banks to issue tokenized deposits, joining a growing effort by financial institutions to bring traditional bank money onto blockchain networks.

The bank said on Monday that its new platform will help banks to offer round-the-clock payments and settlement services using blockchain technology without replacing their existing core banking systems.

“Many of the banks that we’re starting to work with are thinking about tokenized deposits, and how do we start to do [them],” Anchorage Digital CEO Nathan McCauley said in an interview with CoinDesk.

The product works by creating a blockchain-based representation of customer deposits while keeping the underlying funds within the bank’s traditional deposit accounts. Anchorage will provide the blockchain infrastructure, wallet management and smart contract technology, while banks maintain customer relationships and custody of deposits.

The move comes as banks increasingly look for ways to offer faster payments and settlements in a financial system that still largely operates on business hours and batch processing.

Bitcoin (BTC) passed $65,000 at Monday’s Wall Street open as exchange order-book liquidity dictated price moves.

Key points:

• Bitcoin hits a new week-to-date high despite US stocks rolling over at the start of trading.
• Traders’ targets include a move toward $70,000 next.
• Liquidations are described as “completely insane” as both long and short BTC positions get chopped up.

Bitcoin surfs $65,000 as oil eyes new lows

Data from TradingView showed BTC/USD hitting $65,555 on Bitstamp — its highest since Wednesday.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The move contrasted with US stock markets, which opened lower on continued uncertainty over the fate of the US-Iran peace deal. The mood settled as the US allowed Iranian oil trading for two months.

“Iranian oil is officially returning to global markets for the first time since 2018,” trading resource The Kobeissi Letter responded in a post on X.

US WTI crude returned to near $73 per barrel, marking some of its lowest levels since early March and the start of the war.

CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView

For Bitcoin traders, it was all about nearby pockets of liquidity around the spot price on the day.

“Took out that thick liquidation cluster above $65K. Right after the US Market open. Going to be important where this moves in the next few hours,” Daan Crypto Trades commented alongside data from CoinGlass. 

BTC liquidation heatmap. Source: CoinGlass

“If it rejects here, it will likely try to clean up some liquidity lower. So this is $65K area is a good level to gauge for low timeframe strength/weakness I’d say.”

Trader CrypNuevo eyed a potential trip toward $70,000 should bulls manage to sustain the low-time frame breakout.

BTC/USDT one-hour chart. Source: CrypNuevo/X

BTC sees “insane” multibillion-dollar liquidations

Trading and liquidity analysis account CryptoReviewing, meanwhile, described recent liquidations as “completely insane.”

Related: US dollar strength hits highest since May 2025: Five things to know in Bitcoin this week

Bitcoin, it noted, had liquidated $2.5 billion in just seven days.

“Now, $65,000 – $67,000 has sizable liquidity above that could be swept next – potentially leading to higher levels,” an X post read. 

“However, $61,000 – $63,000 has significantly larger liquidation clusters stacked up, making this the ‘higher probability’ zone to visit next.”

“Over the past six weeks, 6 out of 6 Mondays have marked a local pivot high before price moved lower. Worth keeping an eye on if we start seeing strength and a push higher heading into Monday,” they told X followers.

BTC/USD with Monday peaks marked. Source: Killa/X