According to @FoxNews, former President Donald Trump has pledged to establish 'clear and simple market frameworks' for crypto and create a 'US Strategic Bitcoin Reserve,' signaling a potentially bullish regulatory shift for digital assets like Bitcoin (BTC). The statements, made at a Coinbase summit, suggest an end to the current administration's perceived 'war on crypto' and could significantly influence trader sentiment leading into the election. This political development comes as the market shows mixed signals, with BTCUSDT trading around $106,750 with a slight 0.16% 24-hour decline, while altcoins like Avalanche (AVAXBTC) and Dogecoin (DOGEBTC) posted gains of 6.73% and 1.83% respectively. In other news, the lingering effects of the previous cycle continue, as Shaquille O’Neal agreed to a $1.8 million settlement over his promotion of the collapsed FTX exchange.

According to @WhiteHouse, the Trump family-backed mining firm American Bitcoin Corp has successfully raised $220 million from accredited investors, exceeding its $200 million goal as per an SEC filing. This fresh capital, which includes approximately $10 million in Bitcoin (BTC), is designated for accumulating more BTC for the company's treasury and upgrading its mining fleet, signaling bullish institutional demand for Bitcoin. The firm, which is 80% owned by Hut 8 (HUT), is also planning a public listing through a merger with Gryphon Digital Mining (GRYP). In parallel, Donald Trump reiterated his pro-crypto stance at a Coinbase (COIN) summit, promising his administration would work to create "clear and simple market frameworks" for the digital asset industry. This potential for favorable regulation could serve as a significant catalyst for the crypto market. Current data shows BTCUSDT trading at $105,492.69, down 1.73% over 24 hours.

According to Fox News, the Trump-endorsed candidate has secured victory in the New Jersey Republican gubernatorial primary, defeating several GOP competitors and setting up a race against Democratic Congresswoman Mikie Sherrill in November (Fox News, June 11, 2025). This result is drawing attention from cryptocurrency traders, as U.S. political shifts can influence regulatory sentiment and market volatility. Analysts note that Trump-backed wins have previously correlated with heightened discussions around crypto policy, which may impact Bitcoin and altcoin prices in the lead-up to the general election (Fox News, June 11, 2025).

According to Greeks.live, the market experienced a 'sell the news' event from a volatility perspective, with implied volatility dropping from around 80% to 40% for near-term expirations. However, there remains notable volatility 'kinks' for options expiring on August 2nd and in November, coinciding with the US election.