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On June 21, Jamie Dimon compared the bull market to "a small tsunami" during an event at the Council on Foreign Relations, an image that says it all about the potential brutality of its reversal. The JPMorgan CEO does not deny the strength of the rally, but he refuses to ignore what is happening underneath. His warning signs deserve to be taken seriously, especially in a context where bitcoin stagnates around 64,000 dollars.

Bitcoin has fallen below 63,000 dollars, driven by a massive sell-off in technology stocks. This decline confirms that the leading crypto remains closely linked to risky assets, despite the drop in oil and the partial easing of geopolitical tensions.

The euphoria only lasted a few days. SpaceX was propelled to a valuation of over $2,000 billion by a historic IPO. After this rapid rise, the stock of Elon Musk's group underwent a correction, reigniting questions about the sustainability of its stock surge. Behind the largest IPO of all time, Wall Street is looking to see if the company's fundamentals match its ambitions.

The growing entanglement of national security, technological supply chains and financial sovereignty is profoundly changing global macroeconomic balances. Financial markets and the crypto ecosystem were beginning to observe signs of institutional stabilization when a major diplomatic rupture just occurred. On Monday, June 22, China officially ended the trade truce by announcing massive sanctions against dozens of American companies linked to the strategic sectors of defense and rare earths. Beijing's offensive revives economic hostilities with Washington and threatens to strangle high-tech industries that depend on these essential raw materials for advanced infrastructures.

The crypto sector is entering a new phase with the arrival of an organization dedicated to the needs of large institutions. Ethereum sees the emergence of Ethlabs, an initiative supported by several major players in its ecosystem to prepare for broader institutional adoption.

Donald Trump signs two decrees to accelerate quantum computing in the United States. What this means for the crypto universe.