Bybit is joining a growing list of crypto exchange platforms allowing eligible users to subscribe to tokenized shares in US initial public offerings at the offering price, beginning with a SpaceX listing through the xStocks framework.

Kraken parent Payward Services’ xStocks framework aggregates investor demand across partner platforms and works with underwriting syndicates to secure IPO allocations before tokenizing the shares.

Eligible users can register interest and submit subscription requests for tokenized IPO shares through Bybit, with allocations distributed on a pro-rata basis and unused funds refunded if demand exceeds available shares. SpaceX will be the first offering, with tokenized shares scheduled to begin trading on Bybit’s spot market on June 12.

On listing day, allocated shares are tokenized and backed 1:1 by underlying equity held in regulated broker-dealer custody, according to Bybit.

According to RWA.xyz data, xStocks is the second-largest tokenized stock platform by value, with roughly $415 million in tokenized equities and a 28% share of the market.

Source: RWA.xyz

Kraken on Friday named SpaceX as the inaugural offering for the platform’s xStocks IPO Access product, which is available in more than 110 markets but excludes users in the United States, Canada, Australia and the United Kingdom due to regulatory restrictions.

A day earlier, Coinbase launched a SpaceX pre-IPO market that gives eligible users outside the US exposure to the company’s private-market valuation through perpetual futures contracts.

Source: Bybit

Related: Bybit Pay enters South Africa through MoneyBadger integration

SpaceX targets record-breaking public debut

Founded by Elon Musk in 2002, SpaceX is a private aerospace company best known for its Falcon launch vehicles, Dragon spacecraft and Starlink satellite internet network.

The company filed confidentially for an initial public offering with the US Securities and Exchange Commission in April. The filing came two months after SpaceX acquired Musk’s artificial intelligence startup xAI, expanding the aerospace company’s presence in the AI sector.

Demand for the offering has reportedly exceeded available shares ahead of SpaceX’s planned June 12 public debut. Bloomberg reported that the company is targeting a valuation of at least $1.8 trillion and a roughly $75 billion raise, which would make it the largest IPO on record.

SpaceX’s May 20 S-1 registration statement also disclosed holdings of 18,712 Bitcoin, enough to place the company among the 10 largest corporate Bitcoin (BTC) holders, ahead of firms including Coinbase and Riot Platforms, according to BitcoinTreasuries data.

Top 15 Bitcoin treasury companies. Source: BitcoinTreasuries.NET

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• Strategy bought 1,550 BTC after a rare 32 BTC sale.
• Bitcoin is stabilising near $63K after a sharp 20% monthly drop.
• Analysts split on whether the $60K support will hold or break lower.

Bitcoin has been moving through a volatile stretch marked by sharp liquidations, uneven recovery attempts, and conflicting signals from both technical indicators and institutional activity.

The latest development is Strategy’s decision to purchase 1,550 BTC worth about $101.3 million shortly after a controversial small sale of 32 BTC.

Strategy’s return to accumulation after a rare Bitcoin sale

According to an SEC filing dated June 8, Strategy’s latest purchase of 1,550 BTC was at an average price of $65,332 per coin.

Notably, this followed a short-term sale of 32 BTC, which generated about $2.5 million and was linked to funding corporate obligations, including preferred-share dividend payments.

The sale drew attention because it marked a rare departure from the company’s long-standing accumulation narrative.

Now with the disclosed purchase, Strategy appears to have quickly resumed buying, increasing its total holdings to roughly 845,000 BTC.

The contrast between the small sale and the much larger purchase has become central to market interpretation.

The Michael Saylor’s company remains the largest corporate holder of Bitcoin, and its return to buying after the rare sale has been interpreted by traders as an attempt to reinforce confidence at a time when Bitcoin is still recovering from a sharp drawdown.

Bitcoin stabilises after liquidation-driven crash, but trend remains uncertain

Bitcoin is currently trading around $63,800 after a turbulent week that saw it fall to around $59,300 after failing to hold above $62,00.

Over the past seven days, Bitcoin has declined about 10.9%, while the 30-day drop stands near 20.8%.

At the same time, the market has shown signs of stabilisation after a heavy deleveraging phase.

Open interest in Bitcoin futures has dropped significantly, falling from about 901,000 BTC to roughly 716,000 BTC.

This decline reflects widespread liquidation of leveraged positions rather than sustained new short positioning.

During the same period, Bitcoin briefly rebounded after triggering more than $500 million in short liquidations in a single move.

However, analysts, including Xanrox, have pointed out that the price structure still shows breakdowns from both ascending and descending channels, a technical setup often associated with continued downside risk rather than immediate recovery.

Despite this, Bitcoin has held near the $60,000 region, which is also close to its long-term 200-week moving average.

Historically, this level has acted as a key zone during major market resets, making it a closely watched area for both bulls and bears.

Analysts remain divided on whether the crash has ended

Market interpretation remains split between two major views.

One side argues that the recent move represents a late-stage capitulation event.

This perspective is supported by the sharp drop in leverage, falling volatility, and liquidation-driven selling rather than sustained spot demand weakness.

On the other hand, analysts like Xanrox have warned that the breakdown in trend structure suggests the correction may not be complete.

According to this view, Bitcoin could still revisit lower levels if the $60,000 support zone fails to hold consistently.

Potential downside targets in case of a further decline include $54,000 and $52,000, with more extended bearish projections reaching toward the $48,000 area if macro pressure intensifies and ETF outflows continue.

Yuga Labs-affiliated developers rescued 68 non-fungible tokens from Flooring Protocol after an exploit put NFTs from collections including Bored Apes and CryptoPunks at risk.

Yuga Labs CEO Michael Figge said Monday that the recovered NFTs are now in the company’s custody and will be returned once a solution is finalized.

Yuga’s pseudonymous vice president of blockchain, 0xQuit, said the recovery covered more than $500,000 worth of NFTs.

Source: Michael Figge

Despite the NFT market’s cooldown, some collections still retain high floor prices. CryptoPunks had a floor price of around 32.7 ETH ($54,612), while Bored Ape Yacht Club NFTs sat around 9.16 ETH, according to CoinGecko.

Flooring Protocol was already winding down

The incident affected a protocol that had already been winding down parts of its consumer-facing NFT business.

Floor Protocol said in September 2025 that its Web3 consumer services were entering sunset mode and advised FPv2 token holders to redeem their NFTs and exit fractional positions before Oct. 15, 2025.

Related: OpenSea postpones SEA token launch, citing ‘challenging’ conditions

Former CEO FreeLunchCapital said the protocol faced liquidity issues and organizational changes that left parts of the NFT division unmanaged.

FreeLunchCapital said they had continued providing liquidity and kept some of their own NFT assets on the platform to help users exit positions, adding that those assets became a primary target during the exploit.

FreeLunchCapital said they are in talks with the parent group behind the management team to regain control of the protocol.

NFT market remains far below peak levels

Despite falling sharply from its peak, the NFT market still represents billions of dollars in value. CoinGecko data showed overall NFT market capitalization climbed to around $2 billion in late April and early May before falling back toward $1.4 billion by Monday.

90-day NFT market capitalization chart. Source: CoinGecko

NFT Price Floor data showed CryptoPunks and Bored Ape Yacht Club remained the two largest NFT collections by market capitalization.

CryptoPunks had a market capitalization of about 339,400 ETH (about $560 million), while BAYC stood at around 90,590 ETH ($150 million).

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Key Highlights

• Raytheon commits $100M to Portsmouth, Rhode Island site expansion, creating 150 specialized defense technology positions
• Investment focuses on Patriot GEM-T missile component manufacturing and LTAMDS radar system testing capabilities
• RTX stock started trading Monday at $181.26; Jefferies elevated rating to Buy with $220 target price
• Q1 results showed EPS of $1.78, surpassing analyst projections of $1.52, alongside $22.08 billion in revenue
• Company increased quarterly dividend from $0.68 to $0.73 per share

RTX (RTX) subsidiary Raytheon revealed plans Monday to channel $100 million into its Portsmouth, Rhode Island operations. The initiative aims to accelerate missile-defense component manufacturing and enhance testing infrastructure for an advanced radar platform.

RTX Corporation, RTX

RTX stock launched Monday’s session at $181.26, establishing a market valuation of $244.10 billion. The shares trade beneath their 52-week peak of $214.50 while maintaining substantial distance above the yearly floor of $135.43.

The substantial capital injection targets two strategic priorities. The facility will scale up manufacturing of Patriot GEM-T interceptor missile components while simultaneously enhancing test infrastructure for the Lower Tier Air and Missile Defense Sensor (LTAMDS).

LTAMDS represents cutting-edge radar technology engineered to identify and monitor sophisticated threats, including hypersonic weaponry. Raytheon has secured agreements to deliver these systems to the U.S. Army and Polish military forces.

The program recently achieved its ninth successful flight demonstration. That evaluation utilized multiple radar configurations to monitor and facilitate the engagement of a simulated aerial target.

The GEM-T interceptor serves as a fundamental element of the Patriot air and missile defense architecture. Its mission profile encompasses neutralizing aircraft, cruise missiles, and tactical ballistic threats.

The Portsmouth upgrade will generate 150 advanced technology positions. RTX maintains a workforce exceeding 850 employees throughout Rhode Island, where the company has established operations spanning over sixty years.

Wall Street Upgrades and Naval Contracts

The facility expansion represents just one positive development for RTX. Jefferies recently elevated its position on the stock from Hold to Buy, simultaneously raising its valuation target from $210 to $220. The investment firm highlighted enhanced profit margins, robust defense sector performance, and expanding commercial aerospace aftermarket revenues.

Morgan Stanley preserved its Overweight stance while adjusting its target downward from $235 to $220. Deutsche Bank sustained its Buy recommendation with a $240 objective. Analyst consensus averages “Moderate Buy” with a collective price target of $211.38.

RTX additionally secured a $515 million U.S. Navy agreement for SPY-6 radar technology, strengthening its defense electronics portfolio.

Impressive Q1 Performance and Shareholder Returns

RTX delivered first-quarter earnings of $1.78 per share, exceeding Wall Street’s $1.52 projection by $0.26. Quarterly revenue reached $22.08 billion, topping anticipated $21.38 billion and representing 8.7% year-over-year expansion.

Management projected fiscal 2026 EPS between $6.60 and $6.80. The analyst community collectively forecasts $6.91 for the full fiscal year.

RTX enhanced its quarterly distribution to $0.73 from the previous $0.68 per share. Shareholders of record on May 22 received the elevated dividend on June 11.

This Rhode Island development follows a $53 million expansion Raytheon initiated last year at its Andover, Massachusetts radar manufacturing complex.

Strategy purchased 1,550 Bitcoin for approximately $101.3 million last week, bringing its total holdings to 845,256 BTC.

The company paid an average price of $65,332 per Bitcoin for the purchase, according to a Monday 8-K filing with the US Securities and Exchange Commission. Strategy’s aggregate Bitcoin holdings were acquired at an average price of $75,680 per BTC, for a total cost of about $63.97 billion.

The latest acquisition was funded using proceeds from sales of Class A common stock through the company’s at-the-market offering program. According to the filing, Strategy generated $181 million in net proceeds from those stock sales during the first week of June.

Strategy now holds 845,256 BTC. At Bitcoin’s current price of about $63,600, its holdings are worth roughly $53.8 billion.

The company’s shares rose 6.55% in pre-market trading to $126.90 following the disclosure, according to Yahoo Finance data at the time of writing.

Strategy returns to Bitcoin buying after controversial sale

The latest purchase follows a Sunday X post by Strategy’s executive chairman, Michael Saylor, who said that it was “a good time to add more dots.”

Strategy purchased another 1,550 Bitcoin. Source: Strategy

The purchase also marks a resumption of the company’s BTC accumulation strategy after its controversial sale of 32 BTC last Monday, which was its first since 2022.

Related: Strategy’s leveraged Bitcoin model has faced its first stress test: Grayscale

Bitcoin price fell 21% following the sale, briefly retesting $61,000 for the first time in four months, and sparking heavy criticism from traders who warned of a potential “doom loop” if the firm were ever forced to sell reserves.

CryptoQuant CEO Ki Young Ju pushed back on criticism of Saylor on Friday after CNBC host Jim Cramer accused him of “murdering Bitcoin.” Ju argued that Bitcoin would have fallen to $22,000 if it weren’t for Strategy’s purchases.

In a Monday report, analysts from Bernstein said that Strategy had continued to grow its Bitcoin stack through a roughly 50% price drawdown and highlighted its resilient, overcollateralized and liquid balance sheet, while reiterating an “Outperform” rating and a $450 price target on the stock.

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MetaMask launched a new self-custodial wallet designed for AI agents, allowing autonomous software to trade across decentralized finance while keeping users in control of their funds, the Consensys-owned wallet provider said Monday.

The new MetaMask Agent Wallet gives AI agents access to swaps, perpetual futures, prediction markets and liquidity provisioning across Ethereum-compatible blockchains.

The launch comes as AI agents increasingly emerge as participants in crypto markets, executing trades and managing capital on behalf of users. MetaMask is pitching security as the wallet’s key differentiator.

The product is available through a limited early-access program, with a broader rollout planned in the next few months.

According to the company, every transaction initiated by an agent is automatically subjected to transaction simulation, threat scanning powered and MEV protection before execution. Transactions flagged as malicious will require human approval through two-factor authentication.

MetaMask said transactions deemed safe are covered by its Transaction Protection program, which provides up to $10,000 in protection against losses.

Users can choose between a default “Guard Mode,” which enforces spending limits, protocol allowlists and approval requirements, and an opt-in “Beast Mode” that reduces prompts while still requiring approval for potentially malicious transactions.

“The next great expansion of the onchain economy won’t be driven by humans alone,” Consensys CEO and Ethereum co-founder Joe Lubin said in a statement. “Agents will manage real capital and make real financial decisions, and the infrastructure underneath has to be worthy of that.”

Read more: MetaMask expands debit card across U.S. after year-long pilot

TLDR

• The Nasdaq Composite surged more than 1% on Monday, bouncing back from Friday’s steepest decline in over 12 months
• Semiconductor stocks spearheaded the rally, with Micron surging 9% and Nvidia climbing approximately 2%
• Iran announced it would cease military actions against Israel, reducing pressure on crude oil markets
• Friday’s sharp decline followed robust May employment data that sparked concerns about potential Federal Reserve rate increases
• Important upcoming events include Wednesday’s CPI release and SpaceX’s anticipated Friday IPO

U.S. equity markets opened the week on a positive note Monday as traders returned to technology stocks after Friday’s dramatic downturn.

The Nasdaq Composite advanced approximately 1.2% to reach 26,025. The S&P 500 climbed 0.6% while the Dow Jones Industrial Average increased by roughly 0.2%.

Friday’s trading session witnessed the Nasdaq plunge 4%, marking its most severe single-day loss in more than a year. The S&P 500 simultaneously ended its impressive nine-week rally.

The market downturn was ignited by stronger-than-expected May employment figures. This data prompted market participants to increase their expectations that the Federal Reserve might implement interest rate hikes before year-end.

Economist David Rosenberg challenged this interpretation. He noted that approximately two-thirds of employment growth originated from leisure and hospitality, municipal government, and healthcare and education industries, partially influenced by World Cup preparations.

Semiconductor stocks experienced the most significant losses on Friday but mounted an impressive comeback Monday. Micron soared 9% while Nvidia rose roughly 2%.

Nvidia CEO Jensen Huang indicated the recent pullback represented a purchasing opportunity for investors seeking exposure to artificial intelligence technologies.

Middle East Conflict Creates Initial Volatility Before Resolution

Oil prices jumped during early trading after Iran launched missile strikes against Israel for the first time since April. Israel retaliated despite President Trump urging restraint from both nations.

Crude prices retreated following Iran’s declaration that its military campaign against Israel had concluded.

Both Brent crude and West Texas Intermediate futures reduced their gains after the ceasefire statement.

The U.S. dollar weakened on optimism surrounding potential diplomatic resolution between the two nations. Treasury yields also moderated following earlier increases connected to the employment report.

Several market strategists had warned that equities appeared overextended following substantial April and May advances. Paul Hickey from Bespoke Investment Group indicated that a correction was anticipated given the magnitude of recent price appreciation.

As technology shares declined last Friday, capital rotated into defensive market segments. Healthcare emerged as one of the sectors attracting investment flows during the repositioning.

Market participants will closely monitor Wednesday’s Consumer Price Index data to assess whether elevated oil costs are influencing core inflation metrics.

Oracle’s earnings report is also scheduled for Wednesday, providing additional insight into enterprise technology expenditure trends.

The trading week may conclude with a landmark corporate event. SpaceX is anticipated to debut publicly on Friday in what could become the largest initial public offering in history.

Financial markets continue to exhibit sensitivity to both macroeconomic indicators and international developments as the week progresses.

Bitcoin (BTC) approached intraday highs ahead of Monday’s Wall Street open, with $60,000 holding as key support.

Key points:

• Bitcoin avoids another retest of $60,000 as Wall Street returns, but bear-market standards call for lower.
• A rebound to $64,000 is being watched for signs that worse is yet to come.
• Macro headwinds multiply as the Japanese yen reenters the picture.

Bitcoin price decides on ranging versus breakdown

Data from TradingView showed BTC price selling pressure easing after the weekly close — Bitcoin’s lowest since October 2024.

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

Attention focused on the $60,000 mark amid a broad lack of bullish sentiment on both shorter and longer time frames.

“Holding the $60K low and I will just assume this is a range for now,” trader Daan Crypto Trades forecast in his latest analysis on X. 

“I can easily see us trade in this $60K-$80K region for quite a while. Just need to not turn bearish at the range low and not get too excited at the range high region.”

BTC/USDT perpetual contract one-day chart. Source: Daan Crypto Trades/X

An accompanying chart showed Bitcoin’s 200-day simple moving average (SMA) now acting as low-time-frame resistance.

Among those seeing bearish continuation was trader and analyst Rekt Capital, who told X followers to watch for a failed rebound and subsequent weakening of support at $60,000.

“Bitcoin has now tagged the 200-week SMA for the first time in this Bear Cycle,” he added about another important bear-market feature late last week. 

“Deviating below it has historically been the key to building out a Bear Market bottom formation.”

BTC/USD two-week chart with 200-week SMA. Source: Cointelegraph/TradingView

Bitcoin analysis says macro “tapping it on the shoulder”

On the macro front, analysis pointed to several key headwinds complicating the picture for crypto and risk assets.

Related: BTC price bottom not due until Q4? Five things to know in Bitcoin this week

These were interest-rate plan expectations from the US Federal Reserve, the Japanese yen passing 160 per dollar and the US-Iran war.

“Taken together, these are not exactly ideal conditions for high-beta assets,” trading resource QCP Capital wrote in its latest Market Color bulletin.

“BTC is effectively being asked to perform while oil, rates, FX and geopolitics are all tapping it on the shoulder.”

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

QCP argued that given Asia equities weakness on Monday, Bitcoin’s next moves would be telling when it comes to its recent divergence from stocks.

“If crypto can hold while equities digest the AI-led correction, the market may start to rebuild a cleaner standalone narrative. If not, the apparent decoupling may prove to be less independence and more delayed reaction,” it suggested.