Bitcoin Faces $10B Options Expiry
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 25 2026
0mins
Bitcoin faces a structurally significant options expiry on Deribit as spot prices slide toward multi-month lows, while Digital Currency X prices a $700M private placement uniquely payable in cryptocurrency. Hive Digital signs a 10-year GPU colocation letter of intent in Sweden and separately launches a new $100M convertible note offering, and CoinShares surfaces a structural visibility gap between European wealth managers and their clients' crypto holdings. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.BITCOIN EYES $10B OPTIONS EXPIRY:Bitcoinhit futures lows of $58,995 Thursday, its weakest level since October 2024 and roughly a 52% drawdown from its all-time high. The selloff arrives on a structurally dangerous session, with approximately $10B in notional bitcoin options set to expire on Deribit, a concentration thatwarned could deepen downside price action if spot fails to recover before the cut.DCX RAISES $700M IN CRYPTO-PAYABLE PIPE:Digital Currency Xentered a securities purchase agreement for a $700M private placement of units priced at $2.11 each, with each unit comprising one Class A ordinary share plus three warrants, the company. Uniquely, payment is accepted in USD or in digital assets including bitcoin and ether, with proceeds earmarked to expand its digital asset treasury and AI cloud services.HIVE SIGNS SWEDEN GPU COLOCATION LOI:Hive Digitalsigned a non-binding letter of intent with an investment-grade sovereign Swedish technology company for a colocation lease of up to 10 years at its 32 MW Boden, Sweden facility, with plans to retrofit the site to support up to 10,000 Nvidia GB300 GPUs at 25 MW critical IT load and rack densities of up to 150 kilowatts, as Hivein a regulatory filing. The LOI arrives days after Hive's BUZZ HPC division signed a $220M, three-year AI compute contract with Bell and Cohere covering 2,304 Nvidia Grace Blackwell GPUs, a deal that pushed Hive's contracted annual recurring revenue past $100M, per the.Separately on the same day, Hive subsidiary Hive Bermuda 2026 announced a new Rule 144A offering of $100M of 0% Exchangeable Senior Notes due 2031, with a $15M overallotment option exercisable within 13 days,. This is a second convertible raise, distinct from the $115M offering Hive closed in April 2026 to fund the Blackwell GPU purchase, with proceeds earmarked for GPU acquisition and data center development including the Boden buildout.COINSHARES WEALTH MANAGER SURVEY:CoinSharesreleased findings from a 2026 survey of 261 European wealth management professionals showing that 25% of advisors cannot view the majority of their clients' crypto holdings, and that firm policy rather than advisor knowledge or client demand is the primary barrier to crypto allocation advice,.HYPERSCALE TREASURY UPDATE:Hyperscale Datadisclosed that its combined cash, restricted cash, bitcoin, and silver holdings as of June 24 totaled approximately $94.8M, equivalent to 100.42% of the company's current market capitalization,while evaluating strategic alternatives.PRICE ACTION:As of time of writing, bitcoin was trading at approximately $59,623.16, while ether was trading at approximately $1,572.55,.
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Analyst Views on DCX
About DCX
Digital Currency X Technology Inc, formerly Chijet Motor Co Inc, is a company mainly engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles. The Company’s main business includes the design and development, production, sales, after-sales service and export of new energy vehicles and vehicle parts. The Company's passenger vehicles include small cars, sedans and sports utility vehicles as well as others. The Company's commercial vehicles include light trucks and vans. The Company is also involved in the provision of products and services to the entire value chain for vehicles.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
DCX Secures $700M Private Placement Agreement
- Financing Size: Digital Currency X Technology (DCX) has entered into a $700 million securities purchase agreement with certain investors, with units priced at $2.11 each, indicating market confidence in its future growth potential.
- Financing Structure: Each unit includes one Class A ordinary share and three warrants, with an exercise price of $2.11 per share, becoming exercisable on June 24, 2026, and expiring three years later, providing potential capital appreciation opportunities.
- Use of Proceeds: DCX stated that it will utilize the proceeds for working capital and general corporate purposes, particularly to advance its digital asset treasury strategy and expand its newly launched AI cloud computing services business to diversify revenue streams.
- Market Reaction: Despite the financing announcement, DCX shares fell by 51% in premarket trading, reflecting market concerns regarding the company's current financial condition and future outlook.
See More
DCX Completes $700 Million Private Placement Financing
- Large Financing Scale: DCX has entered into an agreement with investors for a private placement totaling $700 million, priced at $2.11 per unit, which includes one ordinary share and three warrants, reflecting strong market confidence in its digital asset management business.
- Accelerated Strategic Transition: The proceeds will facilitate the company's strategic shift from traditional electric vehicle manufacturing to focused digital asset treasury and technology operations, further diversifying its revenue streams and enhancing competitive positioning.
- Digital Asset Payment Mechanism: By allowing investors to subscribe using Bitcoin, Ethereum, and other digital assets, DCX aligns its financing approach with its existing asset management model, improving capital efficiency and reducing market conversion pressures.
- Future Growth Potential: The company plans to utilize the proceeds to continue executing its digital asset strategy and expand its AI cloud computing services, indicating a forward-looking approach and positive expectations for future market opportunities.
See More
Digital Currency X Technology Regains Nasdaq Compliance
- Compliance Notification: Digital Currency X Technology Inc. received a written notification from Nasdaq on February 17, 2026, confirming its compliance with the minimum bid price requirement, marking a full restoration of its compliance status and mitigating potential delisting risks.
- Hearing Cancellation: The previously scheduled hearing on February 24, 2026, has been canceled due to the compliance restoration, which not only alleviates pressure on the management team but also ensures uninterrupted listing and trading of its securities, thereby boosting investor confidence.
- Strategic Positioning: As a pioneering digital asset treasury management company, Digital Currency X Technology focuses on developing secure cryptocurrency custody and storage solutions, aiming to drive institutional adoption of digital assets and further solidify its market position.
- Comprehensive Digital Currency Strategy: The company is executing a comprehensive digital currency strategy that includes treasury optimization, participation in decentralized finance ecosystems, and the development of advanced custody infrastructure to adapt to the rapidly evolving digital asset market.
See More
Digital Currency X Technology Shares Experience Significant Volatility
- Stock Volatility: Digital Currency X Technology Inc. (NASDAQ:DCX) shares fell 8.76% to $3.75 in after-hours trading after a 34.31% jump to $4.11 during regular trading, indicating a short-term market reaction to compliance news.
- Compliance Notification: On January 23, DCX received written confirmation from Nasdaq that it resolved a compliance deficiency noted on December 12, 2025, maintaining a market value of listed securities above $35 million for 20 consecutive business days from December 23 to January 22, demonstrating restored compliance status.
- Market Performance Analysis: With a Relative Strength Index (RSI) of 31.85, DCX has faced a 99.79% decline over the past year, currently holding a market capitalization of $80.40 million, significantly below the midpoint of its annual range of $6.44, indicating ongoing weak market performance.
- Trading Trends: Benzinga's stock rankings indicate a negative price trend for DCX across all time frames, with the current stock price at approximately 17.18% of its annual range, nearing its 52-week low, reflecting investor pessimism regarding its future outlook.
See More
DCX Regains Nasdaq Compliance with Market Value Requirement
- Compliance Notification: Digital Currency X Technology (DCX) received a Nasdaq notice on January 23, 2026, confirming it has regained compliance with the $35 million minimum market value requirement, indicating the company's stability and adherence to market regulations.
- Compliance Period: Nasdaq determined that DCX met the requirement for 20 consecutive business days from December 23, 2025, to January 22, 2026, providing a solid foundation for the company's future capital operations and strategic initiatives.
- Stock Price Reaction: Following the compliance notification, DCX shares surged 60.8% in premarket trading, reflecting a positive market response to the company's regained compliance status, which may attract more investor interest.
- Closure of Compliance Matter: The compliance issue has been closed with no further action required, demonstrating the company's commitment to regulatory adherence, which is likely to enhance investor confidence and support future growth.
See More
Baker Hughes Q4 Earnings Exceed Expectations
- Earnings Beat: Baker Hughes reported adjusted earnings of 78 cents per share for Q4, surpassing market expectations of 67 cents, indicating strong performance in the oil and gas sector, which is likely to boost investor confidence.
- Sales Growth: The company's quarterly sales reached $7.386 billion, exceeding expectations of $7.068 billion, reflecting its competitive edge amid recovering market demand and potentially driving future business expansion.
- Stock Price Surge: Baker Hughes shares rose 3.7% to $55.81 in pre-market trading, indicating a positive market reaction to its financial performance, which may attract more investor interest.
- Industry Impact: This earnings improvement not only strengthens Baker Hughes' market position but could also positively influence the entire oil and gas industry, prompting other companies to increase investment and innovation efforts.
See More
DCX Secures $700M Private Placement Agreement
- Financing Size: Digital Currency X Technology (DCX) has entered into a $700 million securities purchase agreement with certain investors, with units priced at $2.11 each, indicating market confidence in its future growth potential.
- Financing Structure: Each unit includes one Class A ordinary share and three warrants, with an exercise price of $2.11 per share, becoming exercisable on June 24, 2026, and expiring three years later, providing potential capital appreciation opportunities.
- Use of Proceeds: DCX stated that it will utilize the proceeds for working capital and general corporate purposes, particularly to advance its digital asset treasury strategy and expand its newly launched AI cloud computing services business to diversify revenue streams.
- Market Reaction: Despite the financing announcement, DCX shares fell by 51% in premarket trading, reflecting market concerns regarding the company's current financial condition and future outlook.
See More
DCX Completes $700 Million Private Placement Financing
- Large Financing Scale: DCX has entered into an agreement with investors for a private placement totaling $700 million, priced at $2.11 per unit, which includes one ordinary share and three warrants, reflecting strong market confidence in its digital asset management business.
- Accelerated Strategic Transition: The proceeds will facilitate the company's strategic shift from traditional electric vehicle manufacturing to focused digital asset treasury and technology operations, further diversifying its revenue streams and enhancing competitive positioning.
- Digital Asset Payment Mechanism: By allowing investors to subscribe using Bitcoin, Ethereum, and other digital assets, DCX aligns its financing approach with its existing asset management model, improving capital efficiency and reducing market conversion pressures.
- Future Growth Potential: The company plans to utilize the proceeds to continue executing its digital asset strategy and expand its AI cloud computing services, indicating a forward-looking approach and positive expectations for future market opportunities.
See More
Digital Currency X Technology Regains Nasdaq Compliance
- Compliance Notification: Digital Currency X Technology Inc. received a written notification from Nasdaq on February 17, 2026, confirming its compliance with the minimum bid price requirement, marking a full restoration of its compliance status and mitigating potential delisting risks.
- Hearing Cancellation: The previously scheduled hearing on February 24, 2026, has been canceled due to the compliance restoration, which not only alleviates pressure on the management team but also ensures uninterrupted listing and trading of its securities, thereby boosting investor confidence.
- Strategic Positioning: As a pioneering digital asset treasury management company, Digital Currency X Technology focuses on developing secure cryptocurrency custody and storage solutions, aiming to drive institutional adoption of digital assets and further solidify its market position.
- Comprehensive Digital Currency Strategy: The company is executing a comprehensive digital currency strategy that includes treasury optimization, participation in decentralized finance ecosystems, and the development of advanced custody infrastructure to adapt to the rapidly evolving digital asset market.
See More
Digital Currency X Technology Shares Experience Significant Volatility
- Stock Volatility: Digital Currency X Technology Inc. (NASDAQ:DCX) shares fell 8.76% to $3.75 in after-hours trading after a 34.31% jump to $4.11 during regular trading, indicating a short-term market reaction to compliance news.
- Compliance Notification: On January 23, DCX received written confirmation from Nasdaq that it resolved a compliance deficiency noted on December 12, 2025, maintaining a market value of listed securities above $35 million for 20 consecutive business days from December 23 to January 22, demonstrating restored compliance status.
- Market Performance Analysis: With a Relative Strength Index (RSI) of 31.85, DCX has faced a 99.79% decline over the past year, currently holding a market capitalization of $80.40 million, significantly below the midpoint of its annual range of $6.44, indicating ongoing weak market performance.
- Trading Trends: Benzinga's stock rankings indicate a negative price trend for DCX across all time frames, with the current stock price at approximately 17.18% of its annual range, nearing its 52-week low, reflecting investor pessimism regarding its future outlook.
See More
DCX Regains Nasdaq Compliance with Market Value Requirement
- Compliance Notification: Digital Currency X Technology (DCX) received a Nasdaq notice on January 23, 2026, confirming it has regained compliance with the $35 million minimum market value requirement, indicating the company's stability and adherence to market regulations.
- Compliance Period: Nasdaq determined that DCX met the requirement for 20 consecutive business days from December 23, 2025, to January 22, 2026, providing a solid foundation for the company's future capital operations and strategic initiatives.
- Stock Price Reaction: Following the compliance notification, DCX shares surged 60.8% in premarket trading, reflecting a positive market response to the company's regained compliance status, which may attract more investor interest.
- Closure of Compliance Matter: The compliance issue has been closed with no further action required, demonstrating the company's commitment to regulatory adherence, which is likely to enhance investor confidence and support future growth.
See More
Baker Hughes Q4 Earnings Exceed Expectations
- Earnings Beat: Baker Hughes reported adjusted earnings of 78 cents per share for Q4, surpassing market expectations of 67 cents, indicating strong performance in the oil and gas sector, which is likely to boost investor confidence.
- Sales Growth: The company's quarterly sales reached $7.386 billion, exceeding expectations of $7.068 billion, reflecting its competitive edge amid recovering market demand and potentially driving future business expansion.
- Stock Price Surge: Baker Hughes shares rose 3.7% to $55.81 in pre-market trading, indicating a positive market reaction to its financial performance, which may attract more investor interest.
- Industry Impact: This earnings improvement not only strengthens Baker Hughes' market position but could also positively influence the entire oil and gas industry, prompting other companies to increase investment and innovation efforts.
See More
