Bitcoin Tests 200-Week Moving Average as US Equities Close Q2 on a High

US equity markets finished the second quarter with notable strength, supported by resilient labor data and improving consumer confidence. The S&P 500 closed at 7,499 while the Nasdaq reached 26,213, both recording their best quarterly performance in six years.

Bitcoin Slides to New Yearly Low Near $58,000

Crypto markets told a different story. Bitcoin fell below $59,000, briefly touching the 200-week moving average near $58,000 before staging a modest recovery.

Ethereum dropped to $1,571 as the Fear and Greed Index fell to 11, reflecting extreme market caution.

Key Industry Developments

Ondo tokenized stocks went live on Uniswap covering 430 equities and ETFs. The Ethereum Foundation staked nearly 4,938 ETH through Lido. Australia’s crypto Travel Rule requiring full identity verification took effect in July, while Azerbaijan announced plans for central bank licensing of crypto firms by year-end.

Standout Token Moves

PYTH rose over 6% after Nasdaq selected it for on-chain market data distribution. XLM surged 12% following DTCC’s plan to integrate Stellar as a tokenization settlement asset.