Crypto News, June 25: Bitcoin Hits 20-Month Low, Iran CoinEx Controversy Intensifies as Clarity Act, MiCA, and Trump CBDC Debates Heat Up

Bitcoin’s price is fluctuating again as debates over the Clarity Act, MiCA, and a potential CBDC under President Trump are heating up the market. Additionally, according to the Wall Street Journal, wallets linked to Iran are allegedly moving and laundering money through CoinEx to avoid sanctions.

Last night, the crypto market experienced another significant dip. Although the nature of the drop felt different, it was raw and rapid. Regulators are drawing hard lines, on-chain sleuths are exposing fund flows, and a viral Reddit post reminded us that retail investors still have the power to move markets.

Bitcoin (BTC) 24h 7d 30d 1y All time

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Bitcoin Price Retests Lows After Heavy Liquidations

Bitcoin’s price is currently recovering at $61,800 after retesting 20-month lows below $60,000. Data from Coinglass shows fresh liquidations stacking up, with millions wiped out in the last 24 hours, with long positions taking the heaviest hits. Data confirms that $1 billion was liquidated last night, with long positions accounting for $780 million of that total.

Liquidations, Coinglass

However, the pain might not be over. A major Chinese Bitcoin miner predicted a bottom between $42,000 and $44,000 for late 2026. Jiang Zhuoer, founder of the Chinese Bitcoin mining pool BTC.top, based his prediction on long-term cycle models and Strategy’s (MicroStrategy) mNAV nearing 2022 lows. Arthur Hayes fired back with his usual swagger, stating that AI-driven liquidity could eventually send the Bitcoin price toward $1 million.

BITCOIN TO BOTTOM AT $42k-$44k?
• Big prediction by top Bitcoin miner Jiang Zhuoer.
• According to his mathematical model, the $BTC bear market will bottom out between Oct-Dec 2026.
• Expected Bottom Price: $42,000 – $44,000.
Prediction based on MSTR mNAV and 4-year… pic.twitter.com/1xsFFSfkdP

— Crypto Aman (@cryptoamanclub) June 25, 2026

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Iran CoinEx Under WSJ Spotlight as Clarity Act Enters Final Review

The Wall Street Journal reported that entities linked to Iran moved $3.84 billion through CoinEx since 2019 to bypass sanctions. On-chain data and TRM Labs flagged it as a major illicit hub, with alleged ties to the IRGC and sanctioned Russian entities.

CoinEx has emerged as one of Iran’s primary gateways to global crypto markets, allowing the regime to convert and move funds while bypassing U.S. sanctions. Investigators flagged suspicious activity earlier this year involving two wallets tied to Iran’s Central Bank, which received funds traceable back to the $1.5 billion Bybit hack carried out by North Korean actors.

According to the report, those assets were laundered through complex transaction chains before ultimately landing on CoinEx. There is also a report of direct transactions between CoinEx-hosted wallets and accounts U.S. authorities have linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). While CoinEx has not yet faced new U.S. sanctions, the revelations are putting the exchange under fresh compliance pressure.

On the regulatory front, Senator Lummis opened the final review window for the Clarity Act as the DOJ pushes back on claims of loopholes. Progress on the Clarity Act is moving faster than most expected.

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MiCA is Coming, and Less Than 10% of Firms Are Compliant as Trump CBDC Fight Spills Into Housing Bill

Moving to Europe, the upcoming MiCA deadline is forcing an industry-wide reset. As of today, only 210 out of 3,000 crypto firms cleared the deadline. After July 1, all unlicensed platforms will lose access to 450 million EU users with no extensions. Coinbase opened a Luxembourg hub, while Binance is seeking approval elsewhere. The MiCA cull is brutal but could be necessary.

Back in the United States, President Trump abruptly canceled the scheduled signing of the 21st Century ROAD to Housing Act. The bill itself is a major bipartisan measure that had passed the House 358-32 and the Senate 85-5. This legislation aims to boost housing supply and affordability by cutting regulations and encouraging new construction. However, the bill also includes a provision that would block the Federal Reserve from issuing a central bank digital currency (CBDC) until 2030.

Trump just put the digital-dollar ban on ice over an unrelated voting bill
The bill banning a US central bank digital currency passed Congress, then hit a wall at Trump’s desk. He cancelled Wednesday’s signing ceremony for the housing package, which carries the CBDC ban through… pic.twitter.com/tVNJaZt8FR

— BSCN (@BSCNews) June 24, 2026

Trump posted on Truth Social that he would not sign the housing bill until Congress first passes the SAVE America Act, his priority election integrity and voter ID legislation, which he called a “National Emergency.”

Trump’s action has left the housing bill in limbo despite its bipartisan support. While the CBDC ban was a key addition pushed by Republicans, Trump’s decision to hold up the entire package is primarily aimed at forcing action on the SAVE Act. This creates short-term uncertainty but is likely good for crypto as the anti-CBDC language stays alive as leverage.

Meanwhile, Reddit’s WallStreetBets turned Wendy’s into a meme stock, with shares jumping over 40% after a “Save Wendy’s before it’s too late” post went viral from 20-year lows. It shows that retail still has teeth. The liquidations are flushing out weak leverage. Every shakeout clears the path. Bitcoin has survived far worse.

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