Bitcoin Bounces Back from $98K Plunge: SEI Rockets 80% as Ethereum Prepares to Halve Block Times

Crypto markets just delivered another rollercoaster week—complete with gut-wrenching dips, parabolic pumps, and network upgrades that'll make TradFi engineers weep into their Excel sheets.

Bitcoin shakes off six-figure drop

The OG cryptocurrency tanked to $98K before bulls staged a textbook recovery. Meanwhile, SEI decided normal altcoin pumps weren't enough—blasting 80% upward like it's 2021 all over again.

Ethereum's speed revolution

Developers are slashing block times by 50%, because apparently settling transactions faster than Wall Street's lunch breaks might actually help adoption. Who knew?

As the suits argue about 'muh volatility,' the rest of us are busy printing gains. Just another week where crypto outpaces traditional markets by a country mile—but do try to keep up, Jamie Dimon.

What Happened This Week in Crypto? 

Here are the major headlines on what happened in crypto industry this week:

Bitcoin Fell Below $100K Following US Strike

Following the U.S. military strikes on Iran’s nuclear sites, Bitcoin price dropped below $100,000 to $98,500 on 22 June, marking its first dip below the $100K mark since May. This turmoil sparked widespread risk aversion in crypto markets while triggering a mammoth $855 million in liquidations. Despite the initial crash, Bitcoin rebounded to a weekly high of $107,588, fueled by a 75.8% surge in daily trading volume and $548 million in spot ETF inflows.

US Federal Housing Dives into Crypto

The U.S. Federal Housing Finance Agency (FHFA), led by Director Bill Pulte, announced plans to study and incorporate cryptocurrency holdings into mortgage qualification criteria, potentially revolutionizing lending practices. This move could legitimize digital assets as collateral, enabling crypto investors to leverage their portfolios for home purchases. While details remain sparse, the initiative reflects growing mainstream acceptance of cryptocurrencies, though regulatory hurdles and market volatility may pose challenges to implementation.

New Ethereum Improvement Proposal Aims 50% Cut in Block Timing

An ethereum developer has proposed a new improvement (EIP-7782) to reduce block timing by 50%, from 12 seconds to 6 seconds, aiming to boost transaction throughput and network efficiency. This upgrade, building on the recent Pectra update that lowered fees and improved staking, could position Ethereum to outpace competitors in scalability. If approved, the change could drive further adoption. 

SEI Skyrockets 70% as Circle’s IPO Filing Reveals Major Holdings

SEI’s price soared 70% from its weekly low and surged to $0.3319, driven by a 40% single-day surge, after Circle’s IPO filing disclosed SEI tokens as a significant component of its balance sheet, underscoring the asset’s growing prominence in the DeFi sector and its high-performance blockchain. 

NYSE Files to List Truth Social’s Bitcoin and Ethereum ETF

The NYSE filed a Form 19b-4 with the SEC to list the Truth Social Bitcoin and Ethereum ETF, proposed by Trump Media & Technology Group, which would allocate 75% to Bitcoin and 25% to Ethereum under the ticker B.T. The ETF, with Crypto.com as custodian and Yorkville America Digital as sponsor, aims to offer investors exposure to the two largest cryptocurrencies via traditional brokerage platforms. 

Crypto News You Might Have Missed

• Texas Governor Signs Bitcoin Reserve Bill: Texas Governor Greg Abbott has signed SB 21 bill to establish the Texas Strategic Bitcoin Reserve, making Texas the third U.S. state to adopt Bitcoin as a strategic asset.

• OKX Eyes US IPO: OKX crypto exchange is exploring a U.S. initial public offering (IPO) following its April 2025 re-entry into the American market after a $505 million settlement with the Department of Justice.

• Anthony Pompliano’s ProCap BTC to Go Public: Pompliano’s $1B Bitcoin treasury firm, ProCap BTC, is eying to go public via a $1B SPAC merger. 

• ARK Invest Sells $255.9M in COIN Stock: Cathie Wood’s ARK Invest offloaded $255.9M in Coinbase (COIN) stock as it surges to new highs.  

• SharpLink Gaming Boosts Its Ethereum Treasury: SharpLink Gaming increased its Ethereum treasury holdings to 188,478 ETH, signaling strong confidence in Ethereum’s long-term value and potential in DeFi landscape.

Buzz of the Week: 

Nasdaq-listed Bit Digital, known for its Bitcoin mining capabilities, made headlines this week with a bold strategic pivot to Ethereum. It announced its complete exit from Bitcoin mining to focus exclusively on Ethereum staking and treasury operations. 

The firm holds 24,434.2 ETH ($44.6 million) and 417.6 BTC ($34.5 million) as of June 28, 2025 and it plans to convert its bitcoin holdings into Ether and redirect proceeds from selling its mining assets to bolster its Ethereum staking infrastructure. 

🚨JUST IN: 🇺🇸Bit Digital $BTBT doesn't understand #bitcoin and will sell their 417.6 BTC for ETH, yikes. pic.twitter.com/MT0V6qTh6u

This shift, fueled by a $150 million public offering, reflects the company’s bet on Ethereum’s proof-of-stake (PoS) model for sustainable yields of 4–6.5% annually, driven by the 2022 Merge and rising institutional interest. 

Top Gainers and Losers of this Week

What to Expect for Next Week?

For the next week, the crypto industry is shaping up to be volatile and eventful, with several key developments on the horizon. Macroeconomic factors, such as Federal Reserve Chair Jerome Powell’s speech on June 30, upcoming GDP data, and Core PCE inflation reports, could sway market sentiment and influence cryptocurrency prices. 

Furthermore, geopolitical tensions—particularly any escalation involving Iran—may add further uncertainty, potentially impacting Bitcoin and other major assets. 

Also read: Bitcoin, Ethereum, xrp price Prediction: What’s in Store Next Week?