Crypto Market Weekly: $2.3 Trillion Wipeout, MSTR Woes Deepen, Binance MiCA Exit and Hot PCE Print

The crypto market cap dropped from $2.22 trillion to $2 trillion between June 22 and June 22 as Bitcoin price fell to $58,000, with this drop adding to the woes facing Strategy after a law firm revealed it is investigating the company for misleading investors.

The PCE inflation data that was released on June 25 has also made investors bet that the Federal Reserve is going to increase interest rates in 2026, a move that could push Bitcoin lower.

Crypto Market Wipes Out $2.3 Trillion Market Cap in 8 Months

Bitcoin price dropped to $58,000 on June 25 as Ethereum fell to $1,500 on the same date. The crypto market cap has now dropped by $2.3 trillion between October 2025 and June 2026.

Data from Coinglass also shows that there were $3.3 billion liquidations in the crypto market between June 22 and June 27.

The ongoing drop coincides with outflows from crypto ETFs, with data from SoSoValue showing that spot Bitcoin ETFs had $1.79 billion in outflows between June 22 and June 26.

Spot Ethereum ETFs saw $273 million in outflows while Solana ETFs shed $3.8 million.

XRP and HYPE were the only crypto market ETFs that had inflows this week, with inflows to XRP reaching $22.99 million while HYPE’s inflows reached $111.36 million.

Law Firm Launches Probe Into Strategy Amid STRC Crash

The Rosen Law Firm is investigating Strategy after allegations that the company gave misleading information to people who invested in MSTR and preferred stocks, like STRC and SATA.

The MSTR stock price has now dropped from $116 on June 22 to close trading at $82 on June 26.

The STRC stock also dropped to an all-time low of $71 on June 26, bringing it 29% below its $100 par value.

Ripple CEO Brad Garlinghouse now says Strategy has endangered the crypto market for using STRC to buy more Bitcoin because the potential lawsuit and investor losses paint the market in a bad light.

Binance Exits Europe Crypto Market Ahead of July 1 MiCA Deadline

The Binance exchange has reportedly asked its customers in the European Economic Area to withdraw their crypto assets from the exchange ahead of the July 1 deadline for when crypto companies are expected to comply with the Markets in Crypto Assets (MiCA) regulations.

CoinGape reported that Binance earlier sought regulatory approval in Greece, but the regulators there did not grant it.

Coinbase CEO Brian Armstrong has said that any crypto investor in the EU who moves their funds from Binance to Coinbase will get a 5% transfer bonus.

The forced exit of Binance out of the EU has split the crypto community, with OKX CEO Star Xu saying that Binance did not adhere to sanctions and anti-money laundering guidelines.

But Binance founder Changpeng Zhao says that Binance’s exit will rob the crypto market in the EU of the “best liquidity in the world.”

PCE Inflation Rises as Investors Bet on Fed Rate Hikes in September

The US PCE inflation rate reached 4.1% in May 2026. Data from the CME FedWatchTool shows that 46% of investors are betting that the Fed will increase rates by 0.25% in September 2026 to bring the inflation down.

A previous report by CoinGape also noted that the Bank of America is expecting the Fed to increase rates three times in 2026.

An increase in interest rates is usually bearish for the crypto market, because when rates are high, investors prefer to hold treasury bills that are less risky than crypto.