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Crypto Insight UK has doubled down on a forecast that XRP must endure one last, violent shakeout before launching toward a long-awaited $10 milestone. In his latest video, the British analyst warned that “the most dense liquidity I’ve seen in a long time for XRP” still sits uncollected beneath current spot prices. Until that pool is swept, he argues, the market will not unlock the upside move he ultimately expects to carry the token into double-digit territory. XRP Needs One Last Flush “XRP didn’t come down as low as we wanted,” he told viewers. “It did hit the first key area of liquidity, but it didn’t take it all. That makes me think we’ve got continued downside.” In his own trading plan, the analyst has resting bids at roughly $2.01 and $1.95—a zone he believes will be tested once leveraged longs capitulate. Only after that “final flush,” he contends, can a rally toward $10 begin in earnest. The call comes amid broader cross-asset strength that has so far failed to translate into a sustained altcoin breakout. Silver is challenging decade-old highs near $36 an ounce, uranium contracts are pressing their recent peaks, and the Nasdaq Composite remains within sight of its all-time high. Yet despite what he calls “a broad-based commodities rally,” the analyst maintains that crypto still needs one more washout to clear residual excess. Macro-political drama, he suggests, is only accelerating that process. He cited the public clash between Elon Musk and US president Donald Trump—sparked by Trump’s proposal for a four-trillion-dollar spending bill and Musk’s claim that Trump’s name appears in sealed Epstein files—as a narrative that briefly rattled risk markets. “If it brings the price to where I want it to go, fantastic,” he said dryly. “That’s all we’re looking at here.” On Ethereum he sees a similar dynamic. Open interest in ETH futures remains at all-time highs, a sign in his view that institutions are accumulating spot while shorting derivatives to hedge—a trade that could unwind violently should ETH pierce the $2,800 level. “When we get this squeeze to the upside,” he predicted, “we’ll see a fast move back toward all-time highs for ETH, probably toward $4,500 before you know it.” Bitcoin, for its part, has already waded into the analyst’s preferred liquidity zone just above $100,000. Whether the flagship asset needs another dip, he said, is less important than what happens to its dominance. A brief surge in bitcoin market share toward 65.5% would, in his model, coincide with an XRP capitulation and set the stage for “crazy season,” his shorthand for a full-blown altcoin cycle. The hinge is XRP liquidity. Viewers were shown heat-map snapshots highlighting concentrated stop-loss orders beneath the May swing low. “People came long here after they thought, ‘Oh, the bottom’s in.’ That’s added to this liquidity below us,” he said. Until that layer is removed, he remains “80% sure” that price will probe lower—even though his own portfolio is almost entirely in spot XRP. “I’m on the side of wanting it to go,” he acknowledged. “If it goes up now, I’m happy. But I’d be highly surprised if we don’t get that push down.” Still, his end-point is unequivocally bullish. Once the liquidity has been harvested, he foresees a textbook bullish divergence on the daily relative-strength index—“lower low on price, higher low on RSI”—that would ignite what he calls the “next big push.” In that scenario, XRP would not merely revisit its 2021 peak near $3.80; it would overshoot to the analyst’s long-standing $10 target. “Let it send,” he concluded. At press time, XRP traded at $2.17.

As political tensions between US President Donald Trump and Elon Musk escalated yesterday, the Bitcoin (BTC) market experienced a sharp shift in sentiment, with the funding rate on Binance flipping from positive to negative within hours. Bitcoin Funding Rates Turn Negative On Binance According to a CryptoQuant Quicktake post by contributor Darkfost, BTC funding rates on Binance have once again turned negative, even as the top cryptocurrency continues to trade above the $100,000 mark at the time of writing. The analyst attributed the sudden reversal in funding – from +0.003 to -0.004 – to the public spat between Trump and Musk on social media. This rapid shift reflects growing fear among market participants amid heightened uncertainty. Following the sentiment shift, BTC fell from the mid-$100,000 range to a low of $100,984, according to CoinGecko. Over the past two weeks, the asset has declined by 4.1%. That said, the current dip may offer a prime buying opportunity to investors. If Bitcoin rebounds strongly, it could result in a strong resurgence in buying pressure, leading to a short squeeze that may propel BTC’s price further up. Darkfost highlighted that there have been three instances during the current market cycle when BTC witnessed such deep negative funding. Notably, each of these instances were followed by a strong upward move in the cryptocurrency. For example, on October 16, 2023, BTC dipped into negative funding territory before rallying from $28,000 to $73,000. A similar pattern played out on September 9, 2024, when the asset surged from $57,000 to $108,000. The most recent case was on May 2, 2025, when BTC jumped from $97,000 to a new all-time high (ATH) of $111,000. If history repeats, then the market may see a new ATH for BTC in the coming weeks. Darkfost noted: Such extreme readings often mark moments of maximum pessimism, precisely the kind of sentiment that can precede a strong bullish reversal when the short term negativity is gone. Large Investors Increase BTC Exposure Meanwhile, Bitcoin whales – wallets holding large amounts of BTC – continue to accumulate at a rapid pace. Notably, new whales have acquired BTC worth $63 billion, reflecting strong confidence in the asset’s near-term prospects. Supporting this bullish outlook, recent analysis by QCR Capital indicates that large investors expect BTC to surge to as high as $130,000 by the end of Q3 2025. Additionally, the realized cap held by long-term holders has surpassed $20 billion, reinforcing positive sentiment. That said, some analysts urge caution, expecting BTC to crash below $100,000 before resuming its bullish momentum. At press time, BTC trades at $104,069, down 0.5% in the past 24 hours.

Bitcoin (BTC) dropped sharply over the past 24 hours, nearing the $100,000 mark with an intraday low of $100,984. This price movement reflects increased volatility across the crypto market following a public exchange on social media between US President Donald Trump and Tesla CEO Elon Musk. Their clash appears to have triggered a wave of risk-off sentiment among traders. In response, the global crypto market cap slipped 4%, falling from over $3.4 trillion yesterday to $3.33 trillion. Meanwhile, the broader market correction has not gone unnoticed in derivatives data. Derivative Metrics Reveal Bearish Sentiment Spike According to CryptoQuant analyst Darkfost, the Binance net taker volume, a metric that measures the difference between aggressive longs and shorts, fell dramatically from $20 million to -$135 million in under eight hours. This signals a sharp pivot in sentiment, as traders rushed to hedge or speculate on downside risk in response to the unfolding news. Darkfost emphasized that this was the largest intraday net taker volume reversal observed on Binance this year. The abrupt shift reflects how quickly sentiment can change when macro-level narratives or influential figures dominate headlines. In this case, the market responded swiftly to perceived uncertainty, leading to a concentration of short positions and significant selling pressure. The situation also led to a notable change in BTC perpetual futures funding rates. Funding on Binance turned negative after briefly trending toward positive territory, dropping from +0.003 to below -0.004. This indicates that short sellers were willing to pay a premium to maintain bearish positions, underscoring rising fear and potentially overextended downside bets. Bitcoin Past Patterns Suggest Potential for Reversal Historically, deeply negative funding rates have been followed by strong recoveries in Bitcoin’s price. Darkfost noted three previous events where similar funding shifts led to large rallies: October 2023 (BTC surged from $28,000 to $73,000), September 2024 (from $57,000 to $108,000), and May 2025 (from $97,000 to $111,000). While not guaranteed, these patterns suggest that extreme pessimism can sometimes signal market turning points. The only recent exception occurred in March 2025 following trade tariff announcements, which led to a continued decline. Still, many traders are watching closely for signs of a short squeeze, where price rebounds force short sellers to cover, amplifying upward momentum. Featured image created with DALL-E, Chart from TreadingView

After days of fluctuating around the $105,000 range, Bitcoin appears to be succumbing to pressure from bears and profit-taking from traders. The most recent 24 hours were marked by Bitcoin losing its hold on the $105,000 price level, crashing until it rebounded at a lower support range around $101,000. However, technical analysis of Bitcoin’s daily candlestick timeframe chart shows that this price level is increasingly under threat, and a formation is currently in place that could lead to a price crash towards $96,000. Bitcoin Head And Shoulders Pattern Forming Crypto analyst Titan of Crypto has highlighted what is a textbook head and shoulders formation on the daily chart. This bearish pattern, if completed, would imply a breakdown toward the $96,000 price zone, according to the analyst. The setup is clearly defined by a peak (head) around mid-May that is flanked by two lower highs (shoulders) on either side, all sitting atop a slanted neckline that now acts as the last line of support. As of now, Bitcoin is trading just above this neckline, testing its structural integrity. In technical analysis, a clean break below the neckline accompanied by strong volume often activates the measured move from the head’s peak to the neckline, projected downward. Based on the chart, that drop points directly to $96,054. This puts Bitcoin at risk of a near 8% drawdown from current levels, with little support in between. Aside from this formation, Bitcoin’s daily RSI is currently around the 50 reading, which is a zone that often triggers reactions. As such, a drop below this midline will confirm a bearish shift in momentum. Bitcoin Price Action Closing On Bearish Mode If Bitcoin does collapse toward the $96,000 level, it would mark a departure from the bullish strength that dominated its price just two weeks ago when it registered a new all-time high at $111,814. Since then, however, Bitcoin has lost subsequent support levels at $110,000, $107,000, and $105,000, which now places the next zone of importance at $103,000. Should Bitcoin fail to hold above that threshold, the pressure would likely shift toward the $101,000 level, which could act as the final buffer before steeper declines. Interestingly, the neckline level of the inverse head and shoulders pattern highlighted by crypto analyst Titan of Crypto is around the $103,500 price level. Bitcoin broke below this price level in the past 24 hours, but the bulls managed to prevent further losses below $101,700. This has led to the creation of lower lows on the daily timeframe. At the time of writing, Bitcoin is trading at $103,250, which means it is back to testing the neckline resistance from below. Its reaction here would determine if it eventually crashes toward $96,000. If sellers take control at this level, it would not only confirm the head and shoulders breakdown but could also lead to a short-term capitulation across other cryptocurrencies.

Bitcoin has continued to show strength amid rising macroeconomic uncertainty, with surging U.S. bond yields and escalating global tensions keeping markets on edge. However, recent political drama has injected new volatility into the crypto space. The world’s leading cryptocurrency experienced a sharp 5% pullback after a highly publicized clash between Elon Musk and US President Donald Trump unfolded on the social platform X. The dispute, centered around the “Big Beautiful Bill” criticized by Musk, quickly triggered reactions across financial markets. According to top analyst Darkfost, last night marked the most significant shift in trader behavior on Binance so far in 2025. As the political spat gained attention, traders responded rapidly, viewing the event as a risk-off signal. The fallout was immediate in the derivatives market, where Binance’s net taker volume plunged from $20 million to -$135 million in under eight hours. This dramatic shift marks the largest net taker volume decline of the year, highlighting just how sensitive crypto traders remain to political developments. While Bitcoin holds key levels for now, market participants are watching closely to see if this pullback will deepen or become a launchpad for the next move higher. Bitcoin Rebounds From $100K Support But Faces Resistance Ahead Bitcoin is once again at a pivotal point after rebounding from the $100,000 support level and climbing to the $103,000 range, showing resilience despite recent volatility. The move signals strength among bulls, but the broader market remains cautious as all eyes turn to the $112,000 all-time high. A breakout above that level could ignite a new leg up, but failure to maintain momentum may lead to a deeper correction below current demand levels. Macroeconomic conditions continue to weigh on market sentiment, with rising US bond yields and escalating geopolitical tensions—particularly the public clash between Elon Musk and US President Donald Trump—injecting uncertainty into global risk assets. The reaction was clearly visible in the crypto derivatives market. Top analyst Darkfost reported that the net taker volume on Binance experienced a record shift, plunging from $20 million to -$135 million in under eight hours. This marks the largest decline in directional sentiment seen in 2025. The net taker volume reflects the imbalance between aggressive longs and shorts, and such a steep drop points to traders rapidly flipping bearish. This sharp reversal indicates fear-driven positioning. However, should Bitcoin rebound convincingly, it could trigger a cascade of short liquidations, potentially fueling a strong rally toward new highs. Price Action Details: Testing Key Level The 4-hour Bitcoin chart shows a strong rebound after briefly breaking below the $103,600 support level. BTC dipped as low as $101,159 before buyers stepped in aggressively, driving the price back to $103,826 at the time of writing. This bounce came precisely at the 200-period moving average (red line), signaling that bulls are still defending key demand zones despite recent volatility. The recovery candle printed with rising volume, suggesting renewed interest and a potential short-term trend reversal. However, Bitcoin still faces critical resistance ahead, with the 50, 100, and 200 EMAs (green, blue, purple lines) now acting as dynamic resistance between $104,600 and $107,000. A close above these levels would confirm strength and could open the door for a retest of the $109,300 resistance. For now, the price action indicates a high-stakes battle between bulls and bears. If BTC holds above $103,600 and builds momentum, the market could regain confidence and push higher. However, failure to reclaim the moving averages may signal exhaustion and expose the price to another retest of the $100K psychological level. Featured image from Dall-E, chart from TradingView

Dogecoin took a hard hit this week as tensions flared between Elon Musk and US President Donald Trump. Prices slid sharply, and red numbers dominated the market. Traders who had been riding the hype found themselves on the losing end. It was a week many will remember for how politics and memes intersected in unexpected ways. Musk And Trump Clash According to public posts, Elon Musk officially left the Department of Government Efficiency (DOGE) on Thursday. That move came after he criticized Trump’s spending bill. He had been co-leading that department since late 2024. Their back-and-forth heated up after Trump said he was “very disappointed” in Musk. In response, Musk claimed Trump would not have won the election without his support. Then Trump called Musk “CRAZY” and threatened to cancel Tesla and SpaceX contracts. Musk fired back on X with, “Go ahead, make my day.” He even warned he might decommission SpaceX’s Dragon spacecraft. Musk Mentions Epstein Documents Based on posts on X, Musk also said that files about Jeffrey Epstein’s case have stayed secret because Trump’s name appears in them. That claim added another layer to the feud. It wasn’t just about spending anymore. Now there was an allegation tying the US President to sealed Epstein investigations. Trump replied that he would pull any contracts with Musk’s companies. Dogecoin Price Plunge Based on reports, Dogecoin fell about 11% on Thursday alone. Over the past week, it was down 16% from its recent highs. Traders pointed to Musk’s political exit as a key factor. Many still see Dogecoin as “the people’s crypto” because of Musk’s early support. But without his backing in that government role, sentiment soured quickly. It’s a coin that has no real asset behind it, so any shift in hype can send prices tumbling. A drop of this size is rare, yet it felt inevitable once the Musk-Trump feud spilled into public view. Tesla Shares Slide Elon Musk’s companies did not escape the fallout. Tesla stock closed down 13% on Thursday. That tumble came after Trump signaled he would pull federal contracts from any company owned by Musk. Investors feared lost revenue and stiffer regulatory oversight. Tesla shares had been riding high this year, but angry tweets from Trump were enough to shake confidence. Even a short phrase on X can move markets—especially when it involves a figure as polarizing as Trump or Musk. Crypto Market Liquidations Meanwhile, the broader crypto market also felt a jolt. According to Coinglass data, total liquidations reached $982 million in a single day. Of that, long liquidations—bets on rising prices—totaled $881 million. Short positions, or bets expecting prices to fall, saw losses of $100 million. That level of liquidation is striking, and it showed how quickly nerves can fray when big personalities clash. Bitcoin and many altcoins slid alongside Dogecoin, creating a chain reaction of forced sell-offs. Featured image from Allison Robbert and Saul Loeb/AFP, chart from TradingView

Log in to today's North American session recap - June 6, 2025 Today's session was marked by the Non-Farm Payroll beat on expectations which triggered a rally in all risk-assets. The data came in at 139K vs 130K expected, a relatively small beat. However, its effect was magnified by a positive sentiment that took a break yesterday, as it was mostly about risk on markets throughout the entire week, with US-China Trade Tensions abating. The unemployment rate in the US is still at 4.2%. Canadian Jobs data also beat expectations (+8K vs -15K exp), though the unemployment rate ticked up to 7% from 6.9%. That led to some decent strength in the Loonie, only down 0.18% against a very strong USD - it's the second Major currency on the Forex board. US Stock indices all close up above 1.10% with the Dow Jones and S&P 500 leading major indices - The S&P is closing above the key 6,000 mark. The less-traded Russell 2000 is up even more though, up 1.66% on the session. There has been a rebalancing today from European stocks to North-American Equities, with the DAX closing down small. close Currency Performance, June 6 - Source: OANDA Labs /media/images/Screenshot_2025-06-06_at_4.52.39PM.width-1400.png Currency Performance, June 6 - Source: OANDA Labs The US Dollar led all majors in forex action with the DXY coming right back above the 99.00 psychological level. The dollar index continued its right from yesterdays lows. The risk-on sentiment hurt the JPY the most, down just below 1% vs the USD (-0.93%). USDJPY went from 142.50 on Wednesday to finishing the week around 144.86. For next week's Economic Calendar, I will guide you toward our latest Weekly Market Outlook! Safe Trades and have a good weekend! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The XRP price action is drawing significant attention, as analysts highlight a distinct wave structure suggesting increased volatility ahead. According to technical patterns on the XRP chart, the cryptocurrency could soon face wild fluctuations on its potential path to retesting its all-time high and aiming for the $4 mark. XRP Wave Map Lays Out Path To A New ATH The XRP price is currently trading at $2.13 after enduring a months-long downtrend that has prevented any upward movement toward revisiting all-time highs. However, despite these momentum struggles, a certified crypto and Elliott Wave analyst, XForceGlobal, has boldly predicted on X (formerly Twitter) that XRP is on a clear path toward a $4 all-time high. The analyst shared a detailed Elliott Wave chart of XRP, suggesting that while the digital asset is poised for a new ATH, it is also set to face significant volatility on its way to this price high. The chart illustrates a well-defined pattern of corrective and impulsive wave structures that signal both short-term turbulence and long-term bullish potential for XRP. XForceGlobal’s chart analysis begins by identifying a major correction that unfolded from XRP’s high in January through a low in April. This move is labeled with a complex wave formation, especially a double zigzag (W-X-Y), showing strong symmetry across multiple degrees of wave structures. Interestingly, the analyst notes that the precision of these wave structures aligns almost perfectly with classic Fibonacci extension levels on the way down, including the 61.8% and 100% retracements. This indicates that the corrective cycle followed a technically sound and predictable path, leading to the conclusion that the worst of the downtrend may be over, and XRP could be entering a new wave sequence with bullish implications. The chart analysis also highlights a critical accumulation zone marked between $1.84 and $2.25. This range coincides with Fibonacci Retracement thresholds and represents a crucial decision point in XRP’s price structure. Recently, XRP dipped into this zone and appears to be bouncing off it, potentially setting the stage for the next impulsive wave higher. Based on this setup, XForceGlobal forecasts an initial rally toward the $3.20 and $3.80 zone, followed by a short-term correction and then an eventual push toward a fresh ATH near $4 or higher. Analyst Predicts XRP Price In Next 3-6 Months A crypto market expert identified as ‘Steph is Crypto’ on X has declared that an XRP price explosion is imminent. The analyst shared a chart, predicting that the cryptocurrency could soon skyrocket to a jaw-dropping all-time high of $50. Notably, the chart indicates that this bullish projection will only occur after XRP crosses the $2.5 resistance threshold. From there, the path could see a steady ascent through $5, $10, and even $22, ultimately aiming for the ambitious $50 milestone. What’s even more striking is the timeline of this bullish forecast—— Steph predicts that XRP could achieve a $50 valuation within just 3 to 6 months. If realized, this would amount to an astonishing 2,280% increase from the current price of nearly $2.1 before the end of the year.

Perth-based cybersecurity specialist Matt Breuillac of Cyber Node Perth-based ethical hacker – or ‘white hat’ – is warning that some miners, mining contractors and energy companies and their service providers are currently easy to hack and they should be testing their protections against cyber-attack more rigorously. Originally from France, Breuillac has worked as a chemical engineer in the nuclear industry as well as supervised the emergency procedures for uranium mines in Kazakhstan. “Some mining companies (particularly tier two and tier three miners in Australia) are woefully unprepared in their cyber-security protections and many are a decade behind Europe,” Breuillac said in a news release. “Cyber-attackers, as we know, can potentially cause havoc in operations of mining and energy companies,” Breuillac said. Attackers can interrupt communications in remote locations, which could result in failures to accurately monitor correct supplies of fuel or other mine inputs. “Remote vehicles and moving components of processing plants, including water supply, could also potentially be hacked and interrupted,” Breuillac said. “Basically, anything that is connected on a computer system can be interfered with by hackers. Hackers could be based in Australia or overseas.” Hackers could be private individuals looking for ransom money or even acting on behalf of overseas countries such as China, North Korea or the US, Breuillac noted. Cyber-attacks on mining companies are growing and costing the mining and energy industries millions of dollars. In 2023, Rio Tinto was hit by a large-scale leak of employee details on the dark web and Alamos Gold also experienced leaks of confidential documents. In 2022, the Copper Mountain Mining Corporation was forced to shut its mill after a ransomware attack. In 2024, in Western Australia, rare earths producer Iluka Resources announced threat actors attempted to disrupt its external website through a denial of service (DoS) attack but they didn’t gain access to company data. Also in 2024, Northern Minerals announced it was subject to a ransomware attack by the Bian Lian ransomware gang. The gang listed Northern Minerals’ stolen documents on its dark web site. In 2025, an Edith Cowan University professor in Western Australia told Australia’s Mining Monthly that if a cyber-criminal was to take out WA’s mining sector, then Australia’s annual revenue could be cut in half. Breuillac says solid preparation now can, potentially, prevent millions of dollars being lost in future. “We also know that cyber-attacks can impact your company’s bottom line as well as its stable growth, and social licence,” he said. “If you are slack with your cybersecurity hygiene – customers, investors and other important stakeholders – may desert your service or products. Over the long-term, cybersecurity preparedness builds trust and reputation.” Watch Horizon Power case study here.

Ethereum has experienced a sharp pullback, retracing over 10% since yesterday as the broader crypto market faced a wave of volatility. Despite the decline, bulls are showing resilience. ETH failed to break below the critical $2,300 mark and is now holding firm above $2,400, a sign that demand remains strong at current levels. Investors are watching closely as Ethereum consolidates and attempts to recover lost ground. Top analyst M-Log1 shared a technical update indicating that ETH is currently sitting around the 200-period moving average on the 4-hour chart. This level often acts as a major trend indicator, and reclaiming it could spark renewed bullish momentum. According to M-Log1, Ethereum’s price action suggests a potential recovery toward the $2,600 zone, especially if bulls manage to push above the 50 and 100 MAs. This renewed interest in ETH comes at a pivotal moment for altcoins. Many market participants are now evaluating whether this consolidation phase marks the beginning of a larger move for Ethereum and related assets. For now, all eyes remain on key technical levels as the market awaits confirmation of direction. Ethereum Eyes Recovery After Market Shake-Up Ethereum is showing signs of strength amid heightened market volatility sparked by rising tensions between Elon Musk and US President Donald Trump. The sharp war of words between the two high-profile figures triggered a wave of uncertainty in financial markets, prompting swift reactions across the cryptocurrency sector. While Bitcoin remains stable above the $100K level, altcoins have experienced significant pullbacks—ETH included. However, the coming weeks are shaping up to be decisive, with many investors closely watching for signs of recovery. ETH has retraced over 10% in recent sessions but is now bouncing from the lows. Bulls appear confident as Ethereum holds above the $2,400 level and attempts to reclaim key moving averages on the 4-hour chart. According to M-Log1, ETH currently sits near the 200MA, a crucial technical level that often signals trend reversals. He notes that Ethereum is bouncing exactly as expected following last week’s broader altcoin correction. M-Log1’s analysis points to the $2,600 level as the next target. A successful push toward that zone, along with reclaiming the 50 and 100 moving averages, could set the stage for a strong rally throughout June. If ETH manages to build momentum and maintain support, the altcoin market could experience renewed bullish energy. Despite ongoing macroeconomic uncertainty and political risk, Ethereum’s resilience is notable. With technical support holding and confidence slowly returning, the setup remains constructive, assuming bulls continue to defend key levels. As the market digests recent events, ETH’s price action over the next few days will offer critical insight into whether a new altseason can take off or whether further downside is still in play. ETH Weekly Chart: Key Levels Hold Ethereum is currently trading around $2,475 on the weekly chart, showing signs of hesitation as it faces strong resistance near the 200-week simple moving average (SMA) at $2,450. Although ETH managed to surge above this level briefly, the candle is showing rejection near the $2,680 area, which coincides with both historical resistance and the upper end of the 34-week EMA ($2,499). This confluence of resistance levels is proving to be a critical zone for bulls to reclaim. Despite the recent bounce from April lows, ETH is still struggling to gain bullish momentum on the higher timeframes. The last few candles reflect indecision, with long wicks and narrowing body size, suggesting that while buyers are defending downside levels, sellers remain active near resistance. If ETH fails to close the week above the 200-week SMA, a pullback toward the $2,300–$2,250 range is likely, which aligns with the 50-week and 100-week moving averages. On the upside, a strong weekly close above $2,700 would be a major breakout signal, potentially triggering a broader altseason. For now, Ethereum’s weekly structure remains neutral-to-bullish, with consolidation above the 200-week SMA acting as a key battleground for trend confirmation. Featured image from Dall-E, chart from TradingView

There has been much talk about the rupture of one of the most surprising relationships between the world’s richest man, Elon Musk, and US President Donald J. Trump. This story’s beginning comes from a significant surprise - Elon Musk, who shared and endorsed mostly Democratic ideas, made a U-turn in his approach and decided to ride the Republican Horse during Trump’s presidential campaign. From politics to taxes and power, discover how Elon Musk switched his stance, became Trump’s best friend, what led to yesterday’s surprising beef on X, and the effect it had on Tesla's stock prices. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Week in review: Trade Uncertainty Lingers, US Data Positive… For Now Wall Street's main indexes were set to end the week on a high note, after a better-than-expected jobs report calmed worries about the economy, while Tesla rebounded from a sharp plunge a day earlier and technology stocks continued to rise. For a full breakdown of the US Jobs and NFP report, read Breaking News: US Job Growth Cools but Beats Estimates, Dow Jones Spikes Stocks bounced back earlier in the week, following concerns around a deterioration in the US China relationship as well as the US economy. However, decent data out of the US and a much anticipated phone call between US President Donald Trump and China's Xi Jinping has seen some of the risk premium dissipate ahead of the weekend. The S&P 500 hit its highest in over three months on Friday and remains nearly 2.4% below record highs touched in February. The Dow index also rose to a three-month high close Source: TradingView.Com (click to enlarge) /media/images/DXY_2025-06-06_20-25-37.width-1400.png Source: TradingView.Com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Grayhoood, a crypto trader, said on X that Litecoin is currently experiencing a bearish trend, emphasizing the ongoing weakness in price action. Over the past 24 hours, LTC has decreased by 2.8%, and the candlestick charts reflect a noticeable downward movement. As shown in the chart he referenced, LTC started the day around $89.00 but faced a sharp decline, dropping to $87.00 before managing a brief recovery to $88.50. However, the price has since fallen again to $84, indicating sustained selling pressure in the short term. Momentum Fades: RSI Drifts Toward Oversold Territory According to Grayhoood, current technical indicators suggest that Litecoin may face further downside, with multiple metrics aligning to support a bearish short-term outlook. One of the primary indicators in focus is the Relative Strength Index (RSI), which appears to be drifting toward oversold territory. While such a move could hint at a potential bounce, Grayhoood cautions that it also signals bearish sentiment in the market. Beyond the RSI, momentum oscillators such as the Stochastic indicator and the Commodity Channel Index (CCI) are also painting a gloomy picture. These tools are typically used to gauge market reversals and the strength of ongoing trends. In this case, both are tilting toward further downward momentum if no strong bullish catalyst appears, especially as prices struggle to hold above the $87 support level. Short-Term Declines Contrast with Yearly Gains in LTC’s Moving Averages The analyst further highlighted a mixed outlook from Litecoin’s moving averages, suggesting a market caught between short-term weakness and long-term potential. In the near term, shorter-duration averages are flashing strong sell signals. These are driven by LTC’s recent negative performance, with a -9.0% drop over the past week and a -12.5% decline over the last two weeks, painting a clear picture of growing bearish momentum and sustained selling pressure. However, the longer-term moving averages tell a different story. Despite recent setbacks, Litecoin has posted a 2.3% gain over the past year, which keeps the long-term trend technically bullish. This divergence suggests that while short-term traders may be responding to immediate price volatility and weakness, long-term investors could still see value in the asset, especially if broader market conditions stabilize or improve. That said, the broader market sentiment currently leans bearish, weighed down by Litecoin’s inability to maintain key support levels amid recent price volatility. Even with long-term growth providing a degree of optimism, the prevailing trend is defined by downward pressure and uncertainty. Until short-term indicators begin to align with the long-term bullish structure, Litecoin may continue to face a challenging environment.

Dogecoin’s daily time-frame has reached a critical point that leaves virtually no margin for error. Price settled last night at $0.17551, clinging to a slender cushion just above the confluence of two of the chart’s most important guide rails: the former down-trend resistance that runs from late February and the 78.6 percent Fibonacci retracement of 2024’s late advance to $0.48440. Dogecoin Enters Danger Zone The structural landscape is defined by a six-month descending channel that has corralled every impulse since Dogecoin topped at $0.48440 on 8 December. The median of that channel—slicing through the field at roughly $0.1800—functioned as durable support until Thursday, when an 11% slide in sympathy with Bitcoin split it cleanly. A failure-retest of a channel mid-line is seldom trivial; until DOGE can reclaim $0.1800 on a closing basis, the chart message remains one of trend continuity. Beneath the market, the black trendline that first rejected rallies on 26 March, 26 April and 2 May reclaimed centre-stage after price vaulted it on 8 May, ran to the channel ceiling at $0.2540, and was twice rebuffed—the first rejection on 11 May, the second on 23 May. The trendline is now retested as support where it intersects the 0.786 Fib at $0.16700, producing a high-stakes cross-point. If that level fractures, the only historical scaffolding is the multi-year ascending trendline (drawn from May 2021’s all-time high) that merges with a proven demand band spanning $0.14500 to $0.13500. That rectangle arrested the early-April shake-out and would represent the bulls’ final trench; surrendering it would invalidate the long-term series of higher lows and almost certainly inaugurate a broader bear phase with potential gravitational pull back to the January pivot at $0.12990. Oscillators and overlays do little to contradict the bearish drift. The fourteen-day Relative Strength Index sits at 34.70, hovering just above oversold territory but still tracking below its own moving average at 45.22, underscoring persistent negative momentum. Price Targets Overhead, resistance layers are stacked like dominoes. Immediate priority for the bulls is a daily close back above the channel midline at $0.1800; failing that, any attempt at recovery is suspect. The next ceiling is the compressing exponential moving average cluster: the 20-day EMA at $0.20120, the 50-day at $0.20091, the 100-day at $0.20677 and the 200-day at $0.21550. With all four averages declining and bunched inside a three-cent band, they act as a single reinforced lid near the psychological $0.20 handle. Clearing that barricade would deliver price to the channel’s upper rail, now descending through $0.22. A weekly close outside that boundary would finally neutralise the half-year downtrend and force shorts to cover into the next Fibonacci checkpoints derived from the November high: the 61.8 percent retracement at $0.23484, the 50 percent at $0.28249, the 38.2 percent at $0.33014 and the 23.6 percent at $0.38910. Until then, however, the blunt arithmetic favours the bears. A floor at $0.16700 backed by a multi-touch trendline is slim protection when sentiment is fragile and macro flows are unhelpful. If that shelf cracks, the market’s inertia points toward $0.14500–$0.13500, Dogecoin’s last defensible plateau. Should that red demand zone capitulate, the technical map turns blank down to the January base at $0.12990 and, beyond that into deep bearish territory, especially the August 2024 low at $0.08.

Ethereum has so far underperformed in this market cycle but looks ready to mount a parabolic rally based on analysts’ predictions. Crypto analyst Crypto Bullet recently highlighted a bullish pattern on ETH’s chart, which provides a bullish outlook for the altcoin. Ethereum Eyes $3,300 As Morningstar Candle Pattern Forms In an X post, Crypto Bullet predicted that Ethereum could rally to $3,300 as a Morningstar Candle pattern forms for the largest altcoin by market cap. This came as he highlighted the bullish monthly close for ETH and alluded to the monthly chart printing this bullish pattern. With this, the analyst expects a significant rally from Ethereum. Crypto Bullet noted that Ethereum is now facing tough resistance, but he believes that the $2,500 resistance will be broken. The analyst added that his next target is $3,300. Meanwhile, crypto analyst Ash Crypto also provided a bullish analysis for ETH, in which he declared that the Wyckoff accumulation was still in play. He remarked that the first major level to reclaim is $3,100, which will be followed by a small correction. Following that, Ash Crypto is confident that ETH will then surge to $4,000, which will initiate an explosive rally. The analyst affirmed that $10,000 is programmed for ETH in this cycle. As NewsBTC reported, crypto analyst Crypto GEM recently predicted that Ethereum could rally to $8,000 by next year. Crypto analyst Titan of Crypto also highlighted $5,000, $7,000, and $8,500 as the targets for ETH’s market structure. Meanwhile, just like Ash Crypto, crypto analyst Mikybull Crypto is also confident that the altcoin can reach as high as $10,000 in this market cycle. He highlighted a similarity between Ethereum’s current price action and that of the 2017 market cycle. Ongoing V-Shape Recovery For ETH In an X post, crypto analyst Titan of Crypto highlighted an ongoing V-shape recovery for Ethereum. He noted that ETH has kicked off a sharp reversal, forming a classic V-shape structure on the weekly chart. His accompanying chart showed that ETH could rally to as high as $7,600 on this run-up. Crypto analyst Mikybull Crypto stated that Ethereum is flirting with a breakout. The analyst further noted that the Relative Strength Index (RSI) is already breaking out. His accompanying chart showed that ETH could rally to as high as $3,600 on this breakout. He also declared that the fifth time of ETH’s move to the MA20 will be a thrust through. The altcoin is expected to break the $2,600 resistance on this move. At the time of writing, the Ethereum price is trading at around $2,450, down almost 6% in the last 24 hours, according to data from CoinMarketCap.

Generation Mining (TSX: GENM) shares soared to a two-year high on Friday as it spotlighted the strong support given to its Marathon copper-palladium project by the Ontario government. Located 300 km east of Thunder Bay, northwestern Ontario, Marathon represents Canada’s next shovel-ready critical minerals project after receiving its final construction permit last month. Once in operation, it would be one of North America’s few palladium producers and a key producer of copper. Both metals are essential ingredients in the manufacturing of hybrid and electric vehicles. Shortly after the permitting milestone, Generation received a letter from an unnamed Canadian financial institution stating its interest in lending up to C$200 million for the Marathon project’s construction. On Friday, several ministers from the Ontario government gave further endorsement by issuing an open letter to Canada’s Minister of Energy and Natural Resources, Tim Hodgson, for federal support for what would be a minerals project “critical to building a secure, domestic supply chain.” Generation Mining surged on the news, rising over 22% to C$0.44 apiece to trade at its highest since July 2023. The company’s market capitalization is estimated at C$99.2 million. Billion-dollar project According to a feasibility study released in March 2025, the Marathon mine is expected to produce 168,000 oz. of palladium and 42 million lb. of copper, plus 38,000 oz. of platinum, 12,000 oz. of gold and 240,000 oz. of silver, on an annual basis over a 13-year span. Based on the improved output projections over prior studies, the project would have an after-tax net present value of more than C$1 billion, an internal rate of return of 28% and a 1.9-year payback period, the report showed. “Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production,” Generation Mining CEO Jamie Levy stated in Friday’s press release. As calculated in the feasibility study, the project’s construction is expected to cost around $990 million. The company currently has access to C$200 million in financing through a metals streaming agreement with Wheaton Precious Metals (TSX: WPM).

Tim Draper, a Silicon Valley venture capitalist, has doubled down on his call for Bitcoin to hit $250,000 by the end of 2025. He shared this on X, renewing a prediction he first made in 2018 when he set his sights on reaching that mark by 2022. Back then, the crypto market took a sharp downturn in 2022—thanks in part to FTX’s collapse—and the timeline slipped. Still, Draper believes today’s drivers are strong enough to push prices higher. He even suggested that the US dollar might vanish in a decade as Bitcoin takes its place. Tim Draper’s Bold Timeline According to Draper, the $250,000 target isn’t just wishful thinking. In 2018, he said Bitcoin would reach that level by 2022. It didn’t happen—2022 saw many digital assets tumble in value. This year, though, he repeated his forecast after seeing a “recent surge” in the crypto. He also claimed Bitcoin could become “infinite against the dollar,” arguing that in 10 years the US dollar wouldn’t exist. His confident tone suggests he’s sticking with the same numbers—$250,000 by December 31, 2025. Political And Regulatory Drivers Based on reports, Draper points to politics as a big catalyst. He highlighted moves by US President Donald Trump, who is working on new trade deals. One sign of this push is the Media & Technology Group’s filing on June 5, 2025, for a Truth Social Bitcoin ETF. That application is headed to the NYSE Arca, with Crypto.com lined up as custodian, and it aims to bring more mainstream money into Bitcoin. On the regulatory front, the US Senate voted 66–32 on May 19 to advance the GENIUS Act, which would set rules for stablecoins. Plus, the Digital Asset Market Clarity Act of 2025 is under debate. It has bipartisan support and is meant to spell out clear rules for crypto. Financial Institutions And Adoption Draper also sees banks and big companies stepping in. He mentioned that JP Morgan plans to let its clients buy Bitcoin and use spot-BTC ETFs—like BlackRock’s IBIT—as collateral. That shift could open doors to a flood of institutional cash. Meanwhile, according to Bitcoin Treasuries data, Michael Saylor’s Strategy leads the pack, holding over 580,000 BTC. At current prices, that stash is worth about $61 billion. These moves, Draper argues, point to people treating Bitcoin more like gold than a risky token. Technological Advances On Bitcoin In his view, the tech upgrades on Bitcoin matter too. He talked about Web3 apps built on Bitcoin and said “Layer 2 solutions give Bitcoin the flexibility of Ethereum.” Right now, Lightning Network handles many Bitcoin transactions, making payments faster and cheaper. Featured image from Imagen, chart from TradingView

Gold had been climbing steadily despite the overall risk-on sentiment this week. However, this morning’s stronger-than-expected Non-Farm Payrolls report failed to give the safe-haven asset any additional lift. The rejection at higher levels suggests a lower likelihood of a retest of the all-time highs, which remain at $3,500 - although with this year's volatility, everything is possible. The Bullion, which was up 3% at its weekly highs is now up only 1.26% - Let's dive into a technical analysis as we stand on the current pivot. Gold Technical Analysis from Daily to Hourly charts Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The Mosaic Company (NYSE: MOS) has lowered its full-year 2025 phosphate production guidance as the fertilizer giant navigates a series of operational challenges across key U.S. facilities. The revision weighed on its stock, which slipped more than 3% in Friday trading. Mosaic now expects to produce between 7.0 million and 7.3 million tonnes of phosphate this year, down from its previous guidance of 7.2 million to 7.6 million tonnes. Second-quarter phosphate sales volumes have also been scaled back to 1.5–1.6 million tonnes, compared to the earlier forecast of 1.7–1.9 million tonnes. Despite the production setback, Mosaic raised its pricing outlook for diammonium phosphate (DAP) to $650–$670 per tonne, citing strong market conditions. This marks an increase from the prior forecast of $635–$655 per tonne. The company said its Bartow phosphate facility in Florida is operating at its target rate and is expected to deliver over 500,000 tonnes in Q2, consistent with an annual run rate exceeding 2 million tonnes. However, at its New Wales facility, commissioning delays for new gypsum handling systems continue to limit output. Although production at New Wales is set to rise more than 20% from the first quarter, Mosaic noted that ramp-up of the first of three new systems took longer than planned. Installation of the remaining systems is expected to wrap up by early July, potentially boosting the site’s run rate to 3 million tonnes annually. Elsewhere, the Riverview facility underperformed due to extended downtime aimed at resolving bottlenecks. Mosaic anticipates the plant will reach a run rate equivalent to 1.6 million tonnes annually in the third quarter. In Louisiana, routine maintenance revealed additional repair needs, resulting in prolonged outages and lost output. In the third quarter, Louisiana is expected to perform at its target annual run rate of 1.4 million tonnes. Mosaic’s potash business remains on track, with no changes to its guidance. The company continues to target second-quarter sales of 2.3–2.5 million tonnes and full-year production of 9.0–9.4 million tonnes.

Gold prices fell by nearly 1% on Friday as a stronger-than-expected US jobs report alleviated some economic concerns despite lingering geopolitical uncertainty. Spot gold traded 0.8% lower at just under $3,330 an ounce as of 10:40 a.m. ET, after hitting as high as $3,375.37 earlier in the day. Gold futures also dropped 0.9% to $3,344.10 an ounce in New York. The decline follows new US data that showed a largely stable labour market for the month of May. Non-farm payrolls increased by 139,000 compared with the 130,000 forecast in a Reuters poll, while the unemployment rate stood in line with estimates at 4.2%. Data came in line with estimates, which is a negative for gold as the data suggests that the Fed is going to stay on hold for a little while, said Marex analyst Edward Meir. Federal Reserve policymakers are seen as waiting until September to cut rates, with just one more cut in view by December, based on trading in short-term interest-rate futures. A rate cut would bode well for gold, as it yields no interest. On the trade policy front, there was little clarity after the highly anticipated call between US President Donald Trump and Chinese leader Xi Jinping on Thursday. “These are very difficult negotiations and they’re not going to be solved just on the phone. If the tariff headlines become negative, that’s bullish for gold,” Meir added. So far this year, bullion has gained nearly 25% as investors rushed to the safe-haven metal amid heightened global tensions. In April, it set an all-time high of $3,500.05 an ounce. Elsewhere, silver extended its rally to hit $36.35 an ounce, setting a new 13-year high, before paring gains. Gains in silver “looks like it was driven by speculative flows seeing it way too cheap versus gold, the break above the $35/oz. mark amplified the move,” said Giovanni Staunovo, UBS analyst. (With files from Reuters)

The Ethereum (ETH) price experienced a significant decline on Thursday, falling over 7% and approaching the $2,400 mark. However, expert analysis suggests that a new bullish trend may soon emerge for the second-largest cryptocurrency. Key Metrics Indicate Accumulation By Larger Investors Market analyst Lark Davis took to social media platform X (formerly Twitter) to share insights on Ethereum’s potential. He noted that various on-chain metrics and market behaviors indicate an impending breakout for the ETH price. Notably, Ethereum has been outperforming Bitcoin (BTC) in the second quarter of the year, suggesting growing investor confidence. The recent Pectra upgrade has improved Ethereum’s scalability and reduced its inflation rate, making it more attractive to investors. Additionally, the expert highlights that with exchange balances hitting seven-year lows and substantial inflows into Ethereum exchange-traded funds (ETFs), it appears that larger investors are accumulating ETH for the long term. Despite these bullish indicators, Davis cautioned that not all market participants share this optimistic outlook. Betting markets on Polymarket currently assign only a 27% chance that Ethereum will reach a new all-time high by 2025. Critical Support For Ethereum Amid Political Disputes The broader cryptocurrency market also faced challenges on Thursday, with total market capitalization dropping from $3.30 trillion to approximately $3.12 trillion. Bitcoin, XRP, and Solana (SOL) were among the notable cryptocurrencies experiencing losses, retracing by 3%, 5%, and 6%, respectively. In a separate but related development, tensions between US President Donald Trump and his former adviser Elon Musk have surfaced, adding to the day’s market volatility. Trump expressed disappointment over Musk’s criticism of a key tax and spending bill from his administration, suggesting that their “great relationship” may be nearing its end. Musk retaliated by accusing Trump of ingratitude, claiming his support was instrumental in Trump’s election victory. This public dispute has drawn attention to the intersection of US politics and cryptocurrency, a dynamic that market analyst Income Sharks noted in a recent post on Elon Musk’s social media site, X. The analyst remarked on the swift impact of political conflicts on crypto markets, emphasizing that the Ethereum price has not yet lost critical support levels. Income Sharks, in his analysis, identified the $2,390 mark as a crucial support point for the altcoin in the immediate term, which could determine the next upward targets of $3,000 and $4,000. While trading at $2,406 when writing, Ethereum finds itself well below its all-time high reached during the market’s last bullish cycle in 2021. As of now, the altcoin stands 50% below its record of $4,878, according to CoinGecko data. Featured image from DALL-E, chart from TradingView.com

Following a better-than-expected NFP report, both the dollar and US equities are trading higher. Since the release, the Dow Jones is up ~0.84%, the Nasdaq-100 by ~0.64%, and the S&P 500 by ~0.73%, respectively. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The combination of Equinox Gold (TSX, NYSE-A: EQX) and Calibre Mining (TSX: CXB) should move the new company up to the fourth largest gold producer in Canada even as it looks to trim its portfolio of non-core assets. The C$2.56 billion ($1.83 billion) all-stock deal, set to close this month, will bring to nine the number of producing mines under Equinox from the current seven, as well as Calibre’s Valentine project in Newfoundland that’s currently under construction. Calibre operates one mine in Nevada, and its three sites in Nicaragua are counted as one under the company’s hub and spoke model. Equinox will have gold reserves of about 24 million ounces. “It makes sense where one and one is what becomes three,” Equinox board chair Ross Beaty told The Northern Miner in an early May phone interview. “We should graduate to a subset of gold producers that are very large, as opposed to mid-cap. To the extent that we end up producing more than 1 million oz. [of gold] a year, we expect to trade at a higher multiple as a result of getting bigger. We also have the effect of having many operational synergies to drive our costs down.” The combination, approved by shareholders on May 1 will create the newest large Canadian producer. It will also bring two low-cost assets under the same umbrella – Equinox’s Greenstone open-pit mine in northern Ontario, which achieved commercial production last November; and Valentine, where the first gold pour is expected at the end of the third quarter. The move gives Equinox exposure to Canada’s east coast and further expands its reach into Latin America. The deal follows a series of other gold sector transactions over the past 18 months, including Gold Fields’ (NYSE, JSE: GFI) purchase of Osisko Mining, Newmont’s (TSX: NGT; NYSE: NEM) Newcrest purchase and AngloGold Ashanti’s (NYSE: AU) acquisition of Centamin. Rise to fourth place With targeted annual output of more than 1 million oz., the new Equinox could end up in fourth place among Canadian gold producers – between Kinross Gold (TSX: K; NYSE: KGC) in the third spot and B2Gold (TSX: BTO; NYSE-A: BTG; NSX: B2G) in fifth. Kinross produced 2.13 million oz. last year, compared with B2Gold’s 804,778 ounces. Equinox booked 621,893 oz. in 2024 and Calibre logged 242,487 ounces. At a hypothetical market cap of C$5 billion to C$7 billion, and if analysts re-rate Equinox at a higher valuation due to better profitability or less risk, it would again rank fourth between Kinross and B2Gold. Equinox is currently valued at just over C$4 billion, and Calibre at C$2.64 billion. The integration of the Calibre assets will be key to achieving a re-rate, Canaccord Genuity analyst Jeremy Hoy said in a note. “The combined company provides investors with increased exposure to tier-one Canada, a larger and more diversified platform with a coherent focus on the Americas, enhanced capital markets profile, and a strengthened team,” he said in April. Projects pending Producing more than 1 million oz. a year will “certainly” happen within the next five years, Beaty said. Equinox is awaiting permits on a few projects, such as Castle Mountain in California, where a second stage expansion will add 200,000 oz. to production. Equinox had planned a growth project at its Los Filos mine in southwest Mexico that would have extended the mine life by four years and raised production to 280,000 oz. per year, a 64% increase from its current capacity. However, the company suspended the mine in April after it managed to reach land use agreements with only two out of three local communities. “We’re [waiting] for one of the communities to agree with a revised agreement that we’ve put in front of them,” Beaty said. A March letter signed by almost 100 community and human rights groups from Mexico, Canada and internationally alleges various threats against the local Carrizalillo community. The letter, addressed to Equinox CEO Greg Smith, claims the community has lost agricultural lands and water sources to the mine, and it decried the company’s alleged inflexible stance in negotiations for an agreement. Another factor likely to impact its ranking is streamlining of operations. “We’ll end up with nine or 10 mines,” Beaty said. “We’ve built bought and sold mines. We’ll do that again in the next while once we complete the Calibre merger. I won’t say what they’ll be, but they’ll improve our cost structure, and we’ll use the proceeds to retire our debt even more than quickly. We’ll make a call on which operations to look at over the next six or nine months.” Gold rally As the yellow metal has risen 27% this year, touching an historic high of $3,500 per oz. on April 22, the shares of Canada’s top producers have gained at least 20%. Equinox has gained by 22% and Calibre rose by 42%. “The rise in the gold price is nothing but positive for the entire gold space,” Beaty said. “It’s particularly good for the larger producers, because the larger production you have, the more leverage you have to higher gold prices. I don’t think it’s over. I can’t predict how high it’s going to go and when it’s going to peak out, but it is on a glorious run right now.” Goldilocks zone move While Equinox is taking on some political risk by acquiring the Nicaragua assets, the merger differs from much of the M&A activity during the gold super cycle of 2001-2011. At C$2.56 billion, the Equinox merger is smaller than the super cycle deals, includes low-cost producing mines and being all-stock it reduces balance sheet risk. Beaty said he’s not leery about the rising price of gold pushing up the costs of M&A for producers. “The gold price normally would bid up all companies but not this time because of the disconnect between the gold price and the equities,” he said, pointing to the under-valuing of both junior explorers and major producers over the last two and a half years amid rising gold prices. Meantime, Beaty believes gold’s current bull run could be set to benefit all players in the metal’s exploration and production space. “As cash flows are generated and returned to shareholders, you’re going to see a significant market pickup amongst the big gold producers, followed by the intermediate gold producers, followed by the junior explorers,” he said. “That is what has always happened, and when that happens, I expect you’re going to see quite a significant bump in the valuations being afforded to the junior explorers in Canada and internationally.”

North-American currencies are leading majors this morning with the employment data beating expectations in the US and Canada. US Non-Farm Payrolls Came at 139K vs 130K expected - but it seems like the market is extrapolating the info even more as ADP missed in the beginning of the week: The greenback is rallying strongly and risk assets are enjoying from the tone. With Canadian data coming in at +8.8K vs -15K expected, the employment data from the Canuck has been surprising to the upside for a few months now. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

What are the current Bitcoin price trends? To find that out, we have to look at the macro, and it ain’t looking great. Bitcoin is holding just above $103,000 as investors parse a wave of murky economic signals. The U.S. Dollar Index sits at 98.80, weighed down by soft labor numbers and underwhelming services data. The Fed, offering little in the way of clarity, has left both traditional and crypto markets in a holding pattern. 24h7d30d1yAll time DISCOVER: 20+ Next Crypto to Explode in 2025 Labor Market Weakness Weighs on the Dollar Jobless claims hit 247,000 last week. That’s two straight weeks of increases and the highest since October. ADP numbers came in cold, too, with just 37,000 new jobs in May. With NFP estimates now slashed to 130,000, down from last month’s 177,000, the labor market appears to be losing steam. Fed policymakers aren’t budging. Neel Kashkari made clear the Fed won’t rush to cut rates, keeping investors in limbo. The ISM Services PMI didn’t help. A dip to 52.0 suggests the service sector is starting to slow, raising fresh doubts about the strength of the recovery. Between labor jitters and trade uncertainty, the case for a rate cut is building—but slowly. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Bitcoin Price Trends Maintain Stability Bitcoin hovered near $103,000 Friday morning, slipping 1.11% in 24 hours but holding its ground within a tight range. The price action reflects a broader market pause, with BTC acting more like a macro sentiment gauge than a speculative outlier. With the U.S. Dollar Index drifting and no clear market driver, Bitcoin’s recent consolidation between $100,000 and $105,000 tracks closely with technical levels. A real breakout may hinge on a softening Fed or a geopolitical cool-down. How DXY Movements and Bitcoin Price Trends Intersect Dollar bulls are stuck. Bitcoin isn’t exactly flying, but it’s holding firm. As the U.S. Dollar Index hovers below its 50-day EMA and Bitcoin grinds sideways above $100K, both markets are circling the same question: What comes next? That answer may arrive with Friday’s NFP report. A strong print could send the dollar toward resistance, while Bitcoin might finally feel some tailwinds. A weak report, though, and the whole picture shifts. EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress Key Takeaways What are the current Bitcoin price trends? To find that out, we have to look at the macro data. Dollar bulls are stuck. Bitcoin isn’t exactly flying either, but it’s holding firm. The post Bitcoin Price Trends: U.S. Dollar Index Wobbles on Mixed Economic Signals while BTC Seeks Stability appeared first on 99Bitcoins.