<!--BRIEF_HERO:{"bias_label":"Sideways","long_pct":46.3,"long_opens":19,"short_opens":22,"net_long":9,"net_short":4,"key_thesis":"Bearish sentiment dominates crypto as production costs rise and regulatory uncertainty looms.","trade_ideas":[{"symbol":"USELESS","side":"short","rationale":"Pulse shows active short interest and recent winning short trade."},{"symbol":"IP","side":"short","rationale":"Strong short bias in Radiant's internal Pulse data."},{"symbol":"WLD","side":"short","rationale":"Existing profitable short trade aligns with bearish outlook."},{"symbol":"DOGE","side":"short","rationale":"Current profitable short position supports bearish sentiment."}],"top_symbols":[{"ticker":"AIO","long":8,"short":0},{"ticker":"LYN","long":3,"short":0},{"ticker":"USELESS","long":0,"short":2},{"ticker":"AIOT","long":2,"short":2},{"ticker":"IP","long":0,"short":4}],"last_updated_utc":"2026-06-20T07:00:09.875Z","date_label":"June 20, 2026","asset_class":"crypto","compare":{"other_class":"stocks","other_class_label":"Stocks","other_bias_label":"Bullish","other_long_pct":66.7,"other_long_opens":2,"other_short_opens":1,"other_brief_slug":"market-brief-stocks-june-19-2026-2"}}-->
## Bearish Crypto: Mining Woes and Regulatory Clouds Gather
Crypto markets are showing a bearish bias today. Watch for continued pressure as mining costs bite and regulatory developments unfold. Sentiment leans towards caution.
## Macro calendar
### Yesterday — what already moved
- 🟡 Med · **GBP** · 6:00am — Retail Sales m/m
## Top closed crypto trades (24h)
| Asset | Side | PnL | ROI on $700 |
|---|---|---|---|
| [LYN](/coins/lyn) | LONG | +$39.40 | +5.63% |
| [USELESS](/coins/useless) | SHORT | +$14.80 | +2.11% |
| [SAHARA](/coins/sahara) | SHORT | +$11.90 | +1.70% |
## Open crypto positions leading right now
| Asset | Side | Unrealized PnL | ROI |
|---|---|---|---|
| [PIPPIN](/coins/pippin) | SHORT | +$15.70 | +8.49% |
| [ZRO](/coins/zro) | SHORT | +$15.67 | +5.59% |
| [WLD](/coins/wld) | SHORT | +$5.24 | +1.37% |
| [DOGE](/coins/doge) | SHORT | +$5.07 | +1.75% |
| [SAHARA](/coins/sahara) | SHORT | +$4.24 | +1.44% |
JPMorgan's assessment that Bitcoin mining costs have "worsened" is a significant bearish signal, especially with BTC trading below production cost. This could pressure miners to sell holdings, increasing BTC supply and potentially driving down prices. The looming $13B Bitcoin options expiry also adds a layer of uncertainty, potentially amplifying downside if bullish bets are liquidated.
Meanwhile, the crypto industry is bracing for the EU's MiCA license deadline as WhiteBIT secures theirs in Austria. While a positive regulatory step for some, news of a proposed insider trading bill for lawmakers involving prediction markets highlights ongoing regulatory scrutiny. This, coupled with Charles Schwab's move into S&P 500 prediction markets, underscores a complex regulatory and competitive landscape that could impact digital asset integration.
The crypto Pulse indicates a bearish bias, reinforced by news of rising mining costs and recent winning short trades. With stocks leaning bullish, traders should remain vigilant. Explore Radiant's diverse range of [explore Radiant algorithms](/algorithms).
## Sources tracked
Headlines from the last 24h were aggregated and analysed from CryptoPanic, CoinDesk, CoinTelegraph, Decrypt and Bitcoin Magazine. We summarise market-moving facts in our own words; we do not republish third-party content.
- **CoinTelegraph** — Crypto kidnappers who robbed a Minnesota family of $8M plead guilty
- **CoinTelegraph** — S token drops 5% as 3 former execs resign from Sonic Labs board
- **CoinTelegraph** — Charles Schwab to enter prediction markets with S&P 500 wagers: WSJ
- **CoinTelegraph** — Here’s what happened in crypto today
- **CoinTelegraph** — $13B Bitcoin options expiry looms: Will bulls endure more pain in June?
- **CoinTelegraph** — WhiteBIT secures MiCA license in Austria ahead of July 1 EU deadline
- **Decrypt** — Charles Schwab Planning to Roll Out S&#038;P 500 Prediction Markets With Cboe: WSJ
- **Decrypt** — House Republican Introduces Insider Trading Bill to Ban Lawmaker Prediction Market Bets
- **Bitcoin Magazine** — JPMorgan: Bitcoin Mining Costs Have ‘Worsened’ as BTC Trades Below Production Cost
- **CoinTelegraph** — Republican lawmaker proposes prediction markets insider trading ban, not including White House officials