82% of Bitcoin is in a long-term holding state

According to data from the US Department of Energy, the US Strategic Petroleum Reserve (SPR) crude oil inventory decreased by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983. The inventory reduction is part of the US agreement to release 172 million barrels of crude oil, aimed at filling the global inventory gap after the Iran conflict and lowering fuel prices. Affected by strong US crude oil exports and refining demand, as of June 19th, total US inventories have decreased by 111.4 million barrels to 743.3 million barrels, the lowest level since 1984.

The head of technical analysis and research at Bank of America stated that investors need to hedge against the rise of the S&P 500 index and be prepared for the possible "three wave adjustment" in the coming months. Paul Ciana from Bank of America wrote in Thursday's research report that the S&P 500 index has risen nearly 17% since its March low, but the rally has shown signs of fatigue since hitting its recent high on June 2, and the index may fall to 6850 points, down about 7.6% from its current level.

Senate Majority Leader Thune has stated that he is prepared to submit the Bitcoin Clarity Act for Senate review in the coming weeks. （The Bitcoin Historian）

Ripple CEO Brad Garlinghouse stated that the long-term value of cryptocurrency comes from practicality, not financial engineering. （Cointelegraph）

The CoinDesk Public Keys program discusses the Ethereum institutional super cycle, SharpLink's $75 million financing, stablecoin credit ratings, and the role of privacy in tokenization, and mentions the BTC ETF's $1.8 billion and $255 trillion in trapped liquidity outflows during the week. （CoinDesk）