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  • 06.24.25: Bitcoin Holds $100K as Middle East Fires Spark Volatility

06.24.25: Bitcoin Holds $100K as Middle East Fires Spark Volatility

Plus: Pompliano’s SPAC plans, Norway’s mining ban, meme‐coin explosions 👇

Author

Macro Point Daily
June 24, 2025

👋 Welcome Back to Macro Point Daily, The smartest crypto take of the day — macro trends, market moves, daily charts, and a side of memes.

Every day we provide the 5 stories which matter most in crypto, and one just for the degens.

In Today’s Edition

  • 🧨 BTC briefly dips under $100K

  • 🧠 ProCap to go public via $1B SPAC

  • 🌍 Norway halts new crypto mines

  • 🛠 Canaan exits AI chips for mining

  • 🚀 Little Pepe presale raises $1.3M

  • 🍌 BANANAS31 surges 60%

Let’s dive in.👇

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Today’s Edition

🇺🇸 Geopolitical jitters test crypto's nerve

Bitcoin sinks under $100K before rallying on Middle East reprieve.

BTC dropped to $99.5K amid reports of Iranian retaliation plans, then reclaimed ground above $102K—a sign of underlying resilience. Traditional havens like gold barely budged, pointing to crypto’s growing role as a portfolio diversifier. CME futures indicate potential upside toward $104K, though caution remains if prices breach the $98.2K support level.

📊 Power consumption meets policy

Norway to ban new proof‑of‑work mining centers from autumn.

Facing surging electricity demand, Norway will bar new crypto-mining facilities to protect the grid. Existing operations get a reprieve until next year, but future expansion is off the table. This shift pressures local miners and highlights the growing interplay between energy policy and crypto infrastructure.

  • ⚡ Regulatory actions tied to grid strain

  • 🌱 May push mining to green-energy regions

  • 👷‍♂️ Existing miners are exempted for now

📈 Rainbow model hints at buy zone

Bitcoin’s Rainbow Chart touches ‘fire‑sale’ band today.

The colorful model, tracking price bands based on long-term logarithmic trends, dipped into the lower echelon—historically a signal for accumulation. While not a precise timing tool, it suggests current levels may be enticing for disciplined investors. A deeper dip could reinforce the signal, but a swift rebound might truncate the belly of the band.

🚀 Institutional crypto enters new gear

Pompliano’s ProCap to merge via $1B SPAC, bringing major BTC treasury.

Anthony Pompliano’s ProCap is set to go public through a SPAC merger, deploying a $1 billion asset base with yield strategies and bitcoin reserves. If executed, it could cement on‑chain treasury holdings as a mainstream investment strategy and open new institutional channels. This also provides a template for yield-stackers in the crypto space.

  • 🏦 Validates bitcoin-as-treasury model

  • 🚀 Potential catalyst for institutional inflows

  • ⚙️ Yield component adds return profile

🔁 Canaan resurfaces in mining

ASIC miner giant Canaan exits AI chip business to refocus on BTC.

After dabbling in AI silicon, Canaan announced plans to divest that division and double down on its Avalon bitcoin miner lineup. This pivot aligns resources with the growing demand for efficient ASIC mining hardware and signals a strategic retreat from the crowded AI space.

  • 🛑 AI strategy sidelined

  • ⚙️ Reinforces Avalon product expansion

  • 📊 Aims to boost mining revenue/share

Degen Domain

🐸 Meme‑coin mania continues

Little Pepe presale pulls in $1.325M; BANANAS31 jumps 60%+.

Layer‑2 meme token Little Pepe (LILPEPE) raked in $1.3 million at ~$0.0011/token. Meanwhile, BANANAS31 on BNB chain surged ~20% today, totaling ~60% since June 21. Both are classic high-volatility plays—DYOR before diving in.

  • 🧩 LILPEPE rides zero‑tax L2 buzz

  • 🍌 BANANAS31 hype fueled by Binance collab

  • ⚠️ Expect wild price swings

💬 Quote of the Day

“Be fearful when others are greedy, and greedy when others are fearful.”

— Warren Buffett

See you tomorrow. Forward to a friend who still thinks ETFs are boring.

📉📈🧠🫡
— Macro Point Daily