Bitcoin Surges Above $65,000 as Risk Sentiment Rallies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 15 2026
0mins
Bitcoin surges above $65,000 as a U.S. agreement to reopen the Strait of Hormuz sparks a broad risk rally, lifting crypto-linked equities. Meanwhile, Strategy discloses 846,842 bitcoin after a $100M weekly buy and Bitmine's preferred shares begin NYSE trading Tuesday. 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.HORMUZ DEAL IGNITES CRYPTO RALLY:Bitcoinclimbed to its highest level in nearly two weeks after the U.S. and Iran reached an agreement to reopen the Strait of Hormuz,. The move carried bitcoin above $65,000 on Monday morning, with equities like Coinbase, Strategy, and Robinhoodmoving in tandem.framed the move as part of a global risk-on relief rally, with oil falling simultaneously as bitcoin climbed roughly 3%. A formal signing is expected Friday following a 60-day negotiation phase,.STRATEGY WEEKLY BTC DISCLOSURE:, Strategy revealed that between June 8 and June 14 it acquired 1,587 bitcoin for approximately $100M at an average cost of $63,024 per bitcoin, funded through the sale of 1.73M MSTR Class A shares under its ATM program for $209M in net proceeds. Cumulative holdings now stand at 846,842 bitcoin at an aggregate cost of $64.07B, average cost basis $75,656 per bitcoin, with a $1.1B USD reserve as of June 14.BITMINE PREFERRED BEGINS TRADING TOMORROW:Bitmine Immersion Technologiesdisclosed, that as of June 14 it holds 5,620,754 ether, representing 4.66% of total ether supply, with 4,718,677 tokens staked through MAVAN, or Made in America Validator Network, at a projected $226M in annualized staking revenues. Total holdings including 204 bitcoin, equity stakes in Beast Industries and Eightco Holdings, and $502M in cash reach $10.4B combined, down from $11.6B the prior week on lower ether prices. Its 9.50% Series A Perpetual Preferred Stock, symbol BMNP, begins NYSE trading on June 16.Strivethe purchase of 73 bitcoin between June 8 and June 14 at an average of approximately $63,646 per bitcoin, bringing total holdings to 19,105 bitcoin, with cash and equivalents at $141.4M.MINER REBRANDS AS AI DATA CENTER:AIB, formerly BlockchAIn Digital Infrastructure, will rebrand to AIB Data Centers, effective June 25, reflecting a strategic pivot toward AI and high-performance computing workloads,.UFC STABLECOIN DEAL AND PATENT NOTES:TKO Group Holdingsand its UFC property named World Liberty Financialan official partner of UFC Freedom 250, funding a $250,000 Performance of the Night bonus pool paid in USD1stablecoin, a company press release. Dogecoin Cash filed a U.S. utility patent with the USPTO covering blockchain infrastructure for sub-5-second transaction confirmations and simplified dApp deployment on the Dogecoin network,. HUI commenced continuous trading on the Vienna Stock Exchange with a market maker and disclosed an impending token listing on a major global exchange,.PRICE ACTION:As of time of writing, bitcoin was trading at $66,661.15, while ether was trading at $1,818.05,.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 159.360
Low
230.00
Averages
361.63
High
440.00
Current: 159.360
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the onchain economy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. The Company offers products and services to various customer groups: consumers, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime trading, markets, base protocol and Coinbase wallet. The Company also provides market infrastructure in the form of exchanges for customers to trade spots and derivatives.
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.
Coinbase Secures UK Investment Services Authorization
- Market Expansion: Coinbase announced it has secured UK investment services authorization, allowing UK users to trade derivatives and equities on a single platform for the first time, enhancing user convenience and the platform's competitive edge.
- Product Diversification: The new authorization will enable institutional and advanced traders to access a variety of derivatives, including crypto, equities, and commodity perpetual futures, further enriching Coinbase's product offerings to meet diverse user needs.
- New Opportunities for Retail Users: Retail users will be able to trade equities on Coinbase for the first time, a move that not only broadens their investment options but also has the potential to attract more users, thereby increasing the platform's market share.
- Enhanced Compliance: This authorization, combined with Coinbase's e-money license and crypto registration in the UK, demonstrates the company's ongoing commitment to compliance, laying a solid foundation for future business expansion.
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- Issue Investigation: Although the company did not elaborate on the cause of the trading disruption, an earlier status message indicated that Coinbase was investigating the issue, reflecting its focus on service stability.
- User Impact: The resumption of trading will allow users to re-engage with prediction markets, which is expected to boost user activity and overall trading volume on the platform, positively impacting Coinbase's business.
- Market Confidence: By swiftly resolving the trading issue, Coinbase is likely to enhance user trust in its platform, further solidifying its position in the cryptocurrency trading market.
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- Political Influence Grows: As of the end of June, the two major AI political action committees have invested at least $44 million in 40 congressional candidates, indicating a rapid increase in their influence in Washington, with expectations to deploy over $200 million in the upcoming elections.
- Legislative Priority Elevation: With rising concerns about the risks of powerful AI models, discussions around AI legislation in Congress have intensified, and while the likelihood of passing legislation this year is low, both parties have indicated that AI will remain a priority moving forward, reflecting the industry's focus on policy-making.
- High Candidate Support Success Rate: Of the 28 candidates backed by Leading the Future, 25 have won their primaries, demonstrating the AI industry's electoral influence and successful strategies, with plans to invest in 50-60 races by the midterms.
- Diverse Funding Sources: Leading the Future and Public First Action have raised $125 million and $80 million respectively, showcasing the AI industry's robust political funding power, particularly with support from notable investors and entrepreneurs, further solidifying their position in policy formulation.
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- Candidate Success Rate: Of the 28 candidates backed by Leading the Future, 25 have won their primaries, indicating that PAC funding significantly enhances candidate success and is likely to impact future legislative developments.
- Policy Position Differences: While both PACs advocate for some level of AI regulation, they differ on whether a federal standard should preempt state laws, illustrating the complexity and diversity of perspectives within the AI industry regarding policy formulation.
- Future Spending Plans: Public First Action plans to support 50-60 races in the midterms, having already spent $20 million, demonstrating its long-term strategic intent to influence AI policy through political engagement.
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- Stock Price Volatility: After soaring 50% in the first three trading days to a high of $202, SpaceX's stock has since fallen 26% to $150 due to concerns over its recent bond offering and upcoming lockup expirations, reflecting market caution regarding its short-term performance.
- Historical Performance Forecast: Historical data suggests that SpaceX's stock could drop 23% in the next year, potentially falling to $104, which implies a 30% downside risk for investors, posing a significant concern for new buyers.
- Impact of Increased Float: SpaceX issued 555 million shares in its IPO, with less than 5% currently available for trading; as lockup periods expire, the float is expected to increase to at least 3 billion shares by late October, which could lead to further stock price declines, necessitating careful investor consideration.
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- IPO Performance Review: SpaceX went public on June 12, raising a record $75 billion with a market cap of $1.7 trillion, although the stock initially surged 19% to $161, it later fell 26% to $150 due to market concerns, highlighting the volatility risks post-IPO.
- Future Price Predictions: Historical data suggests that SpaceX's stock could drop to $132 by 2027, indicating an 11% downside from the current price, while it may fall to $104 within the first year, representing a potential 30% decline, urging investors to exercise caution.
- Increase in Float: Following the IPO, the number of SpaceX shares available for trading will rise from 555 million to at least 1.5 billion, and potentially 3 billion by late October, which could exert downward pressure on the stock price as supply increases, necessitating investor vigilance regarding market dynamics.
- Market Valuation Analysis: Currently, SpaceX trades at 101 times sales, significantly higher than Rocket Lab's 73 times, indicating its lofty valuation, prompting investors to carefully assess its future growth potential before making investment decisions.
See More
Coinbase Secures UK Investment Services Authorization
- Market Expansion: Coinbase announced it has secured UK investment services authorization, allowing UK users to trade derivatives and equities on a single platform for the first time, enhancing user convenience and the platform's competitive edge.
- Product Diversification: The new authorization will enable institutional and advanced traders to access a variety of derivatives, including crypto, equities, and commodity perpetual futures, further enriching Coinbase's product offerings to meet diverse user needs.
- New Opportunities for Retail Users: Retail users will be able to trade equities on Coinbase for the first time, a move that not only broadens their investment options but also has the potential to attract more users, thereby increasing the platform's market share.
- Enhanced Compliance: This authorization, combined with Coinbase's e-money license and crypto registration in the UK, demonstrates the company's ongoing commitment to compliance, laying a solid foundation for future business expansion.
See More
Coinbase Resumes Prediction Markets Trading
- Trading Resumption: Coinbase announced that prediction markets trading on its platform has resumed, addressing the issue where users were unable to place trades, indicating the company's commitment to user experience and responsiveness.
- Issue Investigation: Although the company did not elaborate on the cause of the trading disruption, an earlier status message indicated that Coinbase was investigating the issue, reflecting its focus on service stability.
- User Impact: The resumption of trading will allow users to re-engage with prediction markets, which is expected to boost user activity and overall trading volume on the platform, positively impacting Coinbase's business.
- Market Confidence: By swiftly resolving the trading issue, Coinbase is likely to enhance user trust in its platform, further solidifying its position in the cryptocurrency trading market.
See More
AI Industry Invests $44 Million in 2026 Midterm Elections to Influence Legislation
- Political Influence Grows: As of the end of June, the two major AI political action committees have invested at least $44 million in 40 congressional candidates, indicating a rapid increase in their influence in Washington, with expectations to deploy over $200 million in the upcoming elections.
- Legislative Priority Elevation: With rising concerns about the risks of powerful AI models, discussions around AI legislation in Congress have intensified, and while the likelihood of passing legislation this year is low, both parties have indicated that AI will remain a priority moving forward, reflecting the industry's focus on policy-making.
- High Candidate Support Success Rate: Of the 28 candidates backed by Leading the Future, 25 have won their primaries, demonstrating the AI industry's electoral influence and successful strategies, with plans to invest in 50-60 races by the midterms.
- Diverse Funding Sources: Leading the Future and Public First Action have raised $125 million and $80 million respectively, showcasing the AI industry's robust political funding power, particularly with support from notable investors and entrepreneurs, further solidifying their position in policy formulation.
See More
AI Super PACs Raise Over $200 Million to Influence Elections
- Fundraising Overview: As of the end of June, the two major AI super PACs have raised over $200 million, with at least $44 million already spent on 40 congressional candidates, highlighting the AI industry's growing political influence.
- Candidate Success Rate: Of the 28 candidates backed by Leading the Future, 25 have won their primaries, indicating that PAC funding significantly enhances candidate success and is likely to impact future legislative developments.
- Policy Position Differences: While both PACs advocate for some level of AI regulation, they differ on whether a federal standard should preempt state laws, illustrating the complexity and diversity of perspectives within the AI industry regarding policy formulation.
- Future Spending Plans: Public First Action plans to support 50-60 races in the midterms, having already spent $20 million, demonstrating its long-term strategic intent to influence AI policy through political engagement.
See More
SpaceX IPO Raises Record $75 Billion Amid Market Concerns
- Historic IPO Financing: SpaceX made its public debut on June 12, raising a record $75 billion and achieving a market value of $1.7 trillion at the IPO price, indicating strong market confidence in its growth potential.
- Stock Price Volatility: After soaring 50% in the first three trading days to a high of $202, SpaceX's stock has since fallen 26% to $150 due to concerns over its recent bond offering and upcoming lockup expirations, reflecting market caution regarding its short-term performance.
- Historical Performance Forecast: Historical data suggests that SpaceX's stock could drop 23% in the next year, potentially falling to $104, which implies a 30% downside risk for investors, posing a significant concern for new buyers.
- Impact of Increased Float: SpaceX issued 555 million shares in its IPO, with less than 5% currently available for trading; as lockup periods expire, the float is expected to increase to at least 3 billion shares by late October, which could lead to further stock price declines, necessitating careful investor consideration.
See More
Analysis of SpaceX IPO Stock Price Fluctuations
- IPO Performance Review: SpaceX went public on June 12, raising a record $75 billion with a market cap of $1.7 trillion, although the stock initially surged 19% to $161, it later fell 26% to $150 due to market concerns, highlighting the volatility risks post-IPO.
- Future Price Predictions: Historical data suggests that SpaceX's stock could drop to $132 by 2027, indicating an 11% downside from the current price, while it may fall to $104 within the first year, representing a potential 30% decline, urging investors to exercise caution.
- Increase in Float: Following the IPO, the number of SpaceX shares available for trading will rise from 555 million to at least 1.5 billion, and potentially 3 billion by late October, which could exert downward pressure on the stock price as supply increases, necessitating investor vigilance regarding market dynamics.
- Market Valuation Analysis: Currently, SpaceX trades at 101 times sales, significantly higher than Rocket Lab's 73 times, indicating its lofty valuation, prompting investors to carefully assess its future growth potential before making investment decisions.
See More
