Gate Daily (July 1): 80% of platforms without MiCA license in Europe face shutdown risk; Massachusetts sues Kalshi over sports betting issues

Bitcoin (BTC) weakened further, briefly trading around $58,204 on July 1. Among approximately 3,000 crypto trading platforms in Europe that have not obtained MiCA licenses, about 80% face closure risks. After a court ruling, the Massachusetts Attorney General filed an amended lawsuit against Kalshi regarding sports betting.

Macro Events & Crypto Highlights

1. According to CoinDesk, the EU's Markets in Crypto-Assets (MiCA) regulatory framework will officially take effect on July 1 local time, requiring crypto service providers to obtain licenses or exit the market. The report states that among approximately 3,000 unlicensed crypto trading platforms in Europe, about 80% may face closure risks or stop serving local users due to inability to meet the deadline, potentially affecting over 10 million users, who may be forced to move to compliant platforms.

2. According to CoinTelegraph, after a court ruling, the Massachusetts Attorney General filed an amended lawsuit against Kalshi, a prediction market platform, regarding sports betting. On Tuesday, the judge approved the amended complaint, which includes allegations that Kalshi targeted users under 21 through social media and university campus marketing campaigns.

News Updates

1. Dutch prosecutors have applied for bankruptcy liquidation of crypto platform Knaken to protect the funds of approximately 30,000 clients.

2. UAE private bank Goldman Lampe bought €120 million worth of Bitcoin during the market downturn.

3. Approximately 1,700 UK investors have filed a class-action lawsuit against Binance, seeking £150 million in compensation.

4. Pump.fun has stopped supporting the Tokenized Agent issuance feature.

5. Analyst: Trump has net cashed out at least $1 billion from TRUMP and still holds about $100 million in crypto personally.

6. Nasdaq puts its proprietary market data on-chain via Python.

7. US Vice President JD Vance disclosed that he holds between $250,000 and $500,000 in Bitcoin.

8. ENS co-founder Nick Johnson vetoed the renewal of the Security Council with 80% voting power, sparking community questions.

9. Circle's stock fell 17.55% on Tuesday due to competition from Open USD; analysts say concerns may be "overblown."

Market Trends

1. Latest Bitcoin news: $BTC weakened further, briefly trading around $58,204. Over the past 24 hours, $157 million in liquidations occurred, mainly long positions.

2. US stocks continued to rise on June 30, with the S&P 500 and Nasdaq posting their best quarterly performance in six years. Despite ongoing Middle East conflicts, investors remain optimistic about economic growth and corporate earnings prospects. The Dow Jones Industrial Average closed up 136.46 points, or 0.26%, at 52,319.20, hitting a record closing high for the second consecutive day. The S&P 500 rose 58.93 points, or 0.79%, to 7,499.36. The Nasdaq gained 393.58 points, or 1.52%, to 26,213.72.

(Source: Gate)

3. In Gate's BTC/USDT liquidation heatmap, based on the current price of 58,579.20 USDT, if it drops to around $57,745, cumulative long liquidation amounts exceed $685 million. If it rises to around $58,856, cumulative short liquidation amounts exceed $141 million. Short liquidation amounts are significantly lower than longs, suggesting prudent leverage control to avoid triggering large-scale liquidations amid market fluctuations.

(Source: Coinglass)

4. Over the past 24 hours, BTC spot inflows were $2.55 billion, outflows $2.86 billion, with a net outflow of $310 million.

(Source: Coinglass)

5. Over the past 24 hours, contract net outflows were led by $SPCX, $SNDK, $TAC, $SLX, $VELVET , presenting potential trading opportunities.

X KOL精选观点

Phyrex Ni (@Phyrex_Ni): "The biggest news today is Open USD. At first I thought $BTC 's drop was related to this information, but upon closer inspection, Bitcoin's main drop came an hour earlier. Today is also a good day for US stocks, yet Bitcoin fell more than 3% without any bearish news. The drop is a bit inexplicable, but the dual currency I opened at $59,000 today should settle tomorrow."

"Suddenly I remember I've been saying for the past two years that crypto is in a rebound phase, not yet a full reversal. Some friends used to joke with me, but now they all say it's a bear market. From a macro perspective, we haven't entered a reversal phase yet, not even the final dip. It's unclear whether the US will enter a recession."

"I don't know how much further Bitcoin can fall, but my years of experience tell me that buying more as prices drop is the right move. My average cost is still below $MSTR , thanks to my purchases over the past few years. It's quite interesting. I remember in 2023 I urged everyone to buy at $28,000, and in 2024 at $43,000. I bought them, and I'm still holding."

"I remember when it hit $100,000, I couldn't urge people to buy anymore and said the price was too high. But as it fell from $100,000, I slowly bought down to $59,000. If it continues to fall, I'll keep buying. About half of my profits over the years have gone into buying Bitcoin."

"Today a friend asked if I still think 2028 will be a bull run. My answer remains unchanged. I said back in 2025 that my target is the end of 2028. Everything now is about accumulating assets for that goal."

Today's Outlook

1. US weekly API crude oil inventory change (10,000 barrels) (as of June 26): previous -76.5

2. France June Manufacturing PMI final: previous 50.7

3. Germany June Manufacturing PMI final: previous 50.0

4. Eurozone June Manufacturing PMI final: previous 51.3

5. UK June Manufacturing PMI final: previous 53.1

6. Eurozone June Consumer Price Index preliminary (month-on-month): previous 0.1%

7. Eurozone June Consumer Price Index preliminary (year-on-year): previous 3.2%

8. US June ADP employment change (thousands): previous 122.0

9. US June ISM Manufacturing PMI: previous 54.0

10. US June construction spending (month-on-month): previous 0.4%

11. US weekly EIA crude oil inventory change (10,000 barrels) (as of June 26): previous -608.8

12. Davos Tech Summit held July 1-4, themed "Physical AI and Robotics"

13. Federal Reserve Chair Walsh, ECB President Lagarde, Bank of England Governor Bailey, Bank of Canada Governor Macklem speak at ECB Forum

14. ECB Central Bank Forum in Sintra

15. Hong Kong SAR Establishment Day holiday - market closed

16. Canada Day holiday - market closed