Crypto News Today (June 12): BTC Ranging Between $62K-63K, SpaceX Futures Surge Ahead of IPO and Japan Crypto Reform Bill Edges Closer

In crypto news today (June 12), Bitcoin is consolidating between $62,200 and $63,200, up just +0.5% overnight. This move in BTC has traders hoping that a strong support level is forming at $62,000 and could help Bitcoin hold above $60,000. Liquidations have slowed considerably, with just $270M over the past day, down from over $450M yesterday and nearly $2Bn last week.

Of the other major caps, SOL and XRP have shown strength overnight, up +2.2% and +1.9%, respectively. Trading volume continues to cool, at $79Bn over the past 24 hours, down from $81Bn today, indicating declining trader participation.

With BTC consolidating, Bitcoin ETF flows have seemingly slowed, dropping from $213M in outflows on June 10 to just $22M exiting the products yesterday. If outflows continue to slow, and possibly even turn green, this could be the real catalyst behind a larger upside move across crypto.

Although Bitcoin and the broader market have seemingly settled and ETF outflows have slowed considerably, the Fear & Greed Index is still at 12/100, or ‘Extreme Fear’, signaling that investors aren’t fully trusting this positive price action.

Crypto News: SpaceX Futures Surge Ahead of IPO Launch

Crypto traders are already treating SpaceX as if it were a publicly listed asset, even before the company begins trading publicly. SpaceX-linked perpetual futures have emerged as one of the most active speculative trades in the digital asset markets, drawing attention at a time when Bitcoin and Ether are facing regulatory pressure.

SpaceX shares are expected to begin trading on June 12, with an IPO price of $135 per share. The market capitalization is estimated at $1.75 trillion to $1.77 trillion. Investor demand has now exceeded $250Bn for a total offering size of $75Bn.

On crypto exchanges, there is already trading of SpaceX exposure through synthetic and perpetual futures products. Recently, SpaceX-linked futures generated more than $525M in trading volume over a 24-hour period, with some contracts trading at around $162, which is above the expected IPO price.

Binance processed approximately $287M in SpaceX futures volume within a single day. Additionally, Hyperliquid has become a significant platform for pre-IPO speculation, with open interest rising to over $115M ahead of the listing.

$SPCX premarket on Hyperliquid: $180.
IPO price: $135.
That's already a premium before the stock even opens.

Here's what's actually happening:
Smart money is hedging positions and locking in profits at these levels.
Free money — created out of thin air.

Retail is piling… pic.twitter.com/0telA1UbQr

— HENNY (@henny_fut) June 12, 2026

Japan Crypto Reform Bill Moves Closer to Final Approval

In other crypto news, Japan is advancing a cryptocurrency reform bill that would classify major digital assets like Bitcoin and Ethereum under a framework similar to securities.

This legislation aims to shift oversight from the Payment Services Act to the Financial Instruments and Exchange Act, aligning cryptocurrency exchanges and issuers with traditional finance regulations.

Recently, the House of Representatives approved amendments to this act, which now await a final vote in the House of Councilors.

Key aspects of the bill include restrictions on insider trading in crypto transactions and increased penalties for selling unregistered digital assets, raising prison sentences from three to ten years.

It also requires issuers to publish annual disclosures and expands the authority of Japan’s Securities and Exchange Surveillance Commission to oversee misconduct.