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According to social media buzz, the growing clash between Elon Musk and US President Donald Trump has sent ripples through the crypto world. Musk’s public swipe at a recent spending bill kicked things off. Then came Trump’s warning to yank Musk’s government contracts. It got messy fast. And now, some believe XRP could come out on top. Elon Musk-Trump Feud Spurs Crypto Talk Musk took to Twitter on June 4 to slam what he called reckless government spending. His post warned of “serious economic risks.” Not long after, Trump fired back. He threatened to pull subsidies and contracts tied to Tesla. That response sent Tesla’s stock tumbling. Investors watched $150 billion in market value vanish in a matter of hours. Market Moves And Price Swings Based on reports, Bitcoin slid more than 5% following the news. It dropped to a low of $100,550 before finding a bit of footing near $102,400. XRP wasn’t spared either. It fell alongside other major coins, though the exact drop varied across exchanges. Traders saw quick declines, then a modest rebound as the dust settled. XRP Community Weighs In Joshua Dalton, who founded tech services firm TRIBLU, stirred the pot with a bold claim. He suggested Musk might choose XRP as the main currency for X’s upcoming payment system, X Money. Dalton argued that Musk “will do anything” to make XRP the go-to token. He tagged Ripple, Musk, US President Trump, and Trump’s sons in a single post. That move framed the drama as more than just politics—it became a showdown of crypto loyalties. Technical Fit For X Money XRP provides quicker settlement and reduced fees than Bitcoin. In 2021, Musk suspended BTC payments for Tesla due to high energy consumption and centralized mining concerns. That move proved he’s not afraid to change course when a coin isn’t aligned with his objectives. In October 2024, Musk even referenced XRP in a viral video. He spoke of crypto like XRP potentially resisting central control, but he did not go so far as to make a full endorsement. With X Money scheduled to roll out later in 2025, XRP’s architecture for cross-border transfers could mirror what Musk is looking to create. Some analysts point out real hurdles. Ripple still holds a large chunk of XRP, and US regulators are watching closely. Any big move would need legal green lights and deep liquidity on exchanges. But for now, the idea of an “everything app” powered by XRP keeps popping up in crypto chats. Featured image from Shutterstock, chart from TradingView

Gemini, the crypto exchange built by everyone’s favorite identical twins, Cameron and Tyler Winklevoss, just quietly took a major step toward going public. They’ve filed confidentially for an IPO, and if all goes well, we could see Gemini trading on a traditional stock exchange sometime soon. Timing It Just Right Let’s be honest, crypto companies haven’t always had the smoothest ride with public markets. But Gemini’s filing comes at a pretty strategic moment. Bitcoin is hovering above $70,000, Ethereum’s back in the green, and the general mood in crypto land is cautiously optimistic. Even the regulatory landscape, while still bumpy, feels a bit less hostile than it did a year ago. Instead of airing out their financials from the start, Gemini went the confidential route. That allows them to test the waters and tweak things behind the scenes before fully committing. It’s a move plenty of big-name companies have used to avoid spooking investors if the market shifts. What Gemini Brings to the Table Launched in 2014, Gemini isn’t just another crypto exchange. The Winklevoss brothers have tried to paint it as a clean, buttoned-up alternative to the wild west of digital assets. It’s been one of the few platforms to lean into regulation, boasting New York licensing, SOC audits, and a reputation for security. Gemini offers crypto trading, staking, a custody service, and even a credit card with crypto rewards. Over the years, it’s played a more conservative game than competitors like Binance or FTX, but that’s partly what makes it appealing to institutional investors. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 Why This IPO Could Matter Circle just pulled off its own IPO with a splashy debut, and now Gemini seems ready to follow suit. If Gemini’s offering lands well, it could signal that crypto companies focusing on compliance and infrastructure are back in Wall Street’s good graces. 24h7d30d1yAll time This could also encourage others in the space to test the waters. Think companies like Kraken or OpenSea, which’ve been flirting with public markets for years. A successful Gemini IPO would be a win for the twins and a green light for the next wave of crypto firms eyeing a listing. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 What’s the Catch? While things are looking up, crypto firms still face scrutiny. Gemini had its own scuffles with regulators over the past year, especially regarding its now-defunct Earn program. But it looks like most of those legal clouds have cleared. It’s also worth remembering that crypto sentiment can flip fast. If markets tank again or lawmakers decide to tighten the leash, that IPO window could slam shut. Gemini is taking a calculated risk here, betting that demand for crypto exposure in the stock market is still strong. Final Thought The Winklevoss twins made a name suing Facebook, then doubled down on Bitcoin when most people thought it was a joke. Now they want to take Gemini public, and they’re doing it quietly but deliberately. If they pull it off, it’ll be another milestone for crypto’s march into mainstream finance, only this time, in a suit and tie. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Gemini has confidentially filed for an IPO, positioning itself as one of the next crypto firms to enter the public markets. The timing of the filing aligns with strong crypto market conditions and improved investor sentiment toward digital assets. Founded by the Winklevoss twins, Gemini has built its brand around compliance, regulation, and security-first infrastructure. A successful Gemini IPO could pave the way for other crypto companies like Kraken or OpenSea to explore going public. Despite past regulatory challenges, Gemini’s deliberate IPO move reflects growing confidence in crypto’s place on Wall Street. The post Gemini Aims for Wall Street: Winklevoss Twins File for IPO appeared first on 99Bitcoins.

The UK’s top financial regulator just made a surprising pivot. The Financial Conduct Authority (FCA), known for its cautious stance on crypto, is planning to lift its ban on crypto exchange-traded notes (ETNs) for retail investors. Yep, after years of saying “not on our watch,” the door might finally be creaking open. If the ETN ban is lifted, retail investors could gain regulated access to crypto exposure through traditional broker platforms. ETNs: The Middle Ground for Crypto Curious So what are crypto ETNs, and why should anyone care? Think of them as a way to bet on crypto without touching it. They let investors track the price of digital assets like Bitcoin through traditional stock exchanges, without needing to set up wallets or worry about losing keys. They’re not exactly new. Big players like 21Shares and VanEck already offer these in other countries. However, for UK retail investors, the FCA had slammed that door shut back with the original ETN ban in 2021. Too risky, they said. Too complex. Too volatile. That was the vibe at the time. What’s Changed? The FCA now says the market has grown up a bit. There’s more structure, transparency, and demand from retail traders who want crypto exposure through safer, regulated vehicles. In a consultation paper released this week, the FCA said it’s open to feedback on lifting the ban. They still don’t want people YOLO-ing their life savings into meme coins. Still, they’re signaling that the public deserves options beyond holding assets outright or getting rugged in shady Telegram groups. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Will You Be Able to Buy Crypto ETNs Tomorrow? Not quite. This is just the consultation phase. The FCA is collecting input from now until July. If it moves forward, the rules would come with many guardrails. Think: mandatory risk warnings, tighter marketing rules, and limited platforms offering these products. 24h7d30d1yAll time So don’t expect to fire up your brokerage app and start buying Bitcoin-linked ETNs next week. But change is on the horizon. DISCOVER: 20+ Next Crypto to Explode in 2025 Why It Matters for the UK This isn’t just about ETNs. It’s about how the UK wants to position itself in the global crypto scene. While the US battles the SEC over what counts as a security and MiCA reshapes Europe’s rules, the UK is trying to carve out its own regulatory identity—one that supports innovation but doesn’t throw retail investors to the wolves. The Treasury has been talking about making the UK a crypto hub for years. Allowing access to ETNs could be one of the first tangible steps in that direction. What Could Go Wrong? Plenty. Crypto is still volatile, and ETNs are not immune. If issuers collapse or the underlying markets crash, retail investors could get burned. The FCA knows this, and that’s why it is treading carefully. It wants to strike a balance between freedom and responsibility. But it’s even having this conversation shows how far things have come since the early days of blanket bans and knee-jerk policies. Final Word The UK might not be opening the crypto floodgates, but it is cracking a window. And for retail investors who have been watching from the sidelines, that’s something. If the FCA follows through, we could see a new chapter in which crypto is treated less like a threat and more like a legitimate part of the financial toolkit. Lifting the ETN ban would be a significant step forward in the UK’s plan to become a competitive hub for crypto finance. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The FCA is proposing to lift its 2021 ban on crypto ETNs for UK retail investors, signaling a shift in its regulatory stance. Crypto ETNs let investors track digital assets like Bitcoin through regulated exchanges without directly holding crypto. The proposal is in the consultation phase and, if approved, will include strict marketing rules and risk warnings to protect retail buyers. This move supports the UK’s broader goal of becoming a crypto-friendly financial hub while still maintaining strong investor protections. If approved, UK retail access to crypto ETNs would align more closely with global markets where firms like 21Shares and VanEck already operate. The post FCA Proposes Lifting Ban on Crypto ETNs for UK Retail Investors appeared first on 99Bitcoins.

Ethereum has faced a sharp pullback, dropping over 10% in the last 24 hours as global tensions and macroeconomic uncertainty shake investor confidence across markets. The retrace comes amid rising US bond yields and escalating trade conflict rhetoric between major global powers, particularly the United States and China. While Bitcoin holds strong above key support levels, altcoins—including Ethereum—are under pressure, prompting caution among short-term traders. However, some analysts believe this dip could present an opportunity rather than a threat. Top analyst Ted Pillows shared technical insights suggesting that Ethereum is holding range support well, even after the sharp decline. According to Pillows, ETH’s ability to stay above critical support zones is a positive sign, with a potential breakout toward higher levels if it manages to reclaim momentum within the range. The coming weeks will likely be decisive for Ethereum and the broader altcoin market. If market volatility calms and Bitcoin continues to consolidate above $100K, Ethereum could lead the next leg up, opening the door for a strong altseason. For now, traders are closely watching how ETH behaves around its current support to determine whether a deeper correction or a bullish reversal is in play. Ethereum Holds Range Support Amid Market Volatility Ethereum is showing resilience despite heightened macro uncertainty and political tensions between Elon Musk and US President Donald Trump. Following a sharp pullback, ETH has managed to defend key support levels, with bulls stepping in near the $2,400 zone. This recovery comes at a time when the crypto market is on edge, reacting to broader financial market volatility and shifting sentiment across global assets. ETH remains approximately 48% below its all-time high, leaving substantial upside potential if momentum continues to build. The coming weeks will be decisive, especially as Bitcoin consolidates above $100,000 and traders look to Ethereum and altcoins for the next leg higher. Despite global headwinds, including inflation and escalating trade tensions, Ethereum is maintaining strength within its current range. Pillows emphasized in a recent analysis that Ethereum is holding range support nicely after the dump. According to his view, reclaiming this range is a key signal that bulls remain in control. If ETH can break through near-term resistance levels and reclaim the $2,600 mark, it opens the door for a push toward $3,000 — a psychological and technical milestone. ETH Rebounds As Consolidation Continues Ethereum (ETH) is currently trading around $2,466, holding just above the 34-day EMA at $2,422 after a volatile week. As seen on the daily chart, ETH remains inside a consolidation range between $2,400 and $2,700. Despite recent pressure across altcoins, ETH has managed to avoid a breakdown and is attempting to stabilize above the 50-day and 100-day moving averages. The chart shows that ETH’s recent pullback stopped just before the 100-day SMA (~$2,068), a level that has acted as a strong dynamic support in past cycles. Holding this structure is critical for the bullish outlook to remain intact. If bulls can push the price back above the 200-day SMA at $2,666, Ethereum could attempt a breakout above $2,700 — a move that would likely open the door to $3,000 and signal renewed strength in the broader altcoin market. Volume has remained moderate, suggesting traders are waiting for confirmation before entering new positions. As long as ETH holds above the $2,400–$2,450 region, the bullish thesis remains valid. A daily close below $2,400, however, could expose the asset to a deeper correction toward the $2,200 zone, where the 100-day EMA provides additional technical support. Featured image from Dall-E, chart from TradingView

Highlights include US CPI, China inflation and trade data, UK jobs, GDP and spending review Newsquawk Week Ahead: 9th-13th June 2025 MON: Japanese GDP R (Q1), Chinese Inflation (May), Chinese Trade Balance (May), EZ Sentix Index (Jun), US EmploymentTrends (May) TUE: EIA STEO, UK Jobs Report (Apr), Swedish GDP (Apr), Norwegian CPI (May) WED: ECB Wage Tracker, US CPI (May), UK Spending Review THU: UK GDP (Apr), US PPI (May) FRI: French/Spanish Final CPI (May), EZ Trade Balance (Apr), University of Michigan Survey (Jun), Quad Witching CHINESE INFLATION (MON): Expectations are for Y/Y CPI to slow further to -0.2% from -0.1% with the M/M rate seen at -0.1% vs. previous 0.1% and for Y/Y PPI to decline to -3.2% from -2.7%. In terms of the prior release, Chinaʼs April CPI fell 0.1% Y/Y (prev. – 0.1%), continuing the deflationary trend seen in Q1. The data has been highlighting persistent weakness in domestic demand amid elevated US tariffs, which are weighing on manufacturing margins and driving stockpiles higher. According to the National Bureau of Statistics, food prices fell 0.2%, services rose 0.3%, while broader goods and clothing prices gained 6.6% and 1.3%, respectively, pointing to narrow cost-push inflation pockets rather than a healthy consumption base, according to Chinese media. Desks are flagging the data as a fresh warning shot for policymakers, with the SCMP noting that “tariffs remain prohibitively high and continue to stifle bilateral trade,” keeping pressure on Chinese producers. Analysts at ING say “Persistent deflationary pressures – driven by price competition and ongoing cost-cutting – have dragged the CPI inflation number lower in recent months, a trend expected to continue in May. We anticipate inflation to remain largely unchanged from Aprilʼs -0.1% year-on-year reading. ”CHINESE TRADE BALANCE (MON): Expectations are for Mayʼs trade surplus to expand to USD 101.3bln from 96.18bln; exports forecast at 5% vs. prev. 8.1%, imports -0.9% vs. prev. -0.2%. The prior release for April showed exports rising 8.1% Y/Y (prev. +12.4%) and imports contracting just 0.2% Y/Y (prev. -4.3%), both significantly beating expectations for a sharper slowdown. The export strength followed a front-loading rush ahead of the 145% US tariffs implemented on April 9th under President Trump, while the modest import decline hints at tentative stabilisation in domestic demand. Analysts at ING said “Markets are looking for export growth to moderate slightly to 6.3%, which would remain a respectable growth rate, broadly in line with the year-to-date growth. Imports are expected to remain in negative growth on the month. This slowdown of imports and resilience of exports has helped China’s trade surplus expand further year to date.” APPLE WWDC (MON): The Apple (AAPL) WWDC starts at 13:00EDT/18:00BST on Monday, 9th June 2025, with pressure on the tech heavyweight to build on its prior promises. WSJ writes that Appleʼs growing list of problems clouds the AI reboot and that AI troubles, tariffs, Google payments and App Store fees, all have weighed on the stock ahead of WWDC, which is down ~20% YTD. WSJ adds the Apple Intelligence service introduced at last yearʼs conference is still a work in progress, and the Siri digital assistant is still awaiting a promised AI makeover. However, that will not be coming next week, as the Journal bases it on a rare admission Apple made three months ago that its planned Siri upgrade was taking longer than expected. Continuing to highlight the downbeat tone from some desks, MoffettNathanson said, “Apple will be much more cautious about overpromising and will refrain from showing features that arenʼt yet ready for prime time”, while Needham downgraded the stock on threats to near-term growth.Showing the additional concerns, WSJ quips that AI is only one of the significant problems Apple is facing now – tariffs threaten the profit margins AAPLʼs hardware business, while Trump is openly pressuring the Co. to effectively undo its two-decade-old business model of producing its devices overseas. In terms of new launches at WWDC, Apple is expected to unveil major updates across allits platforms, including iOS 26, macOS 26, iPadOS 26, watchOS 26, and more. 9to5Mac notes with AI reportedly playing a smaller role this year, the spotlight will likely fall on design refreshes, and long-time wish list picks like better window management support on the iPad. While much of the spotlight will likely shine on the visual overhaul, 9to5Mac has learned that Apple has also been quietly preparing a handful of enhancements to apps such as Messages, Music, Notes, and CarPlay, whereby some could be announced as early as next week. While there isnʼt likely to be anything to blow the socks off, 9to5Mac reports five previously unreported AirPods features that may also be announced as early as Monday: 1) New head gestures, 2) Sleep auto-pause, 3) Camera control, 4) Audio mix, 5) Wider classroom support Try Newsquawk free for 7 days UK JOBS REPORT (TUE): Expectations are for the ILO unemployment rate in the 3-month period to April to rise to 4.6% from 4.5%, whilst headline wage growth on a 3M/YY basis is set to hold steady at 5.5%. As a reminder, the prior release saw the unemployment rate nudge higher to 4.5% from 4.4%, employment growth slow to 112k from 206k and wage growth cool, marginally. This time around, Pantheon Macro expects the upcoming release to “show the labour market passing the worst of the shake-out induced by April payroll-tax hikes”, adding that “granted, payrolls will likely fall again in May, but the month-to-month drop should be smaller than in April”. As a reminder, it is worth noting that the report remains plagued by data-collection issues. On the wage front, the consultancy noted that an expected decline in pay growth will keep “regular private-sector AWE on track to come in slightly below the MPCʼs latest Q2 forecast, 5.2%”. That being said, PM acknowledges that “recent stronger than previously assumed publicsector pay deals should boost pay growth more than the MPC expected”. From a policy perspective, given the solid start to the yearfor growth and some reprieve from the post-Liberation Day gloom, a 25bps cut from the BoE is not fully priced until November with a total of 40bps of cuts seen by year-end. NORWEGIAN CPI (TUE): SEB expects Norwayʼs headline inflation to edge lower in May with the headline M/M figure dipping from 0.7% in April to 0.4%; analysts see M/M CPI-ATE dipping to 0.3% (prev. 0.5%) and Y/Y cooling by 0.1% to 2.9% – a figure which would be a little below Norges Bankʼs forecast of 3.1%. As a reminder, the previous inflation report saw core metrics cool more than expected, which SEB attributed to lower food prices. Given the Bankʼs wait-and-see approach at the last meeting, this will be a key report in determining when the Bank next opts for a 25bps cut – but may not have too much skew in the immediacy, because the current MPR points towards two cuts this year (though heavily skewed to one). Using the MPR, SEB extrapolates a cut in both the September and December gatherings, whilst markets donʼt fully price in such a move until November and donʼt quite imply another one occurring in December. UK SPENDING REVIEW (WED): Chancellor Reeves will announce her spending review into individual government departments and outline what their budgets will be for the next three years. The main focus point of this has been and is expected to be a drive by the Labour government to focus on infrastructure investment over the remainder of the term. Given this, we have seen numerous infrastructure-related announcements reported and/or announced, primarily focused on transport. One point that will get headline attention, though is not particularly market relevant, is the change to the Green Book; this dictates the way the fiscal formula is applied to regions across the UK. In terms of the sticking points for Reeves, reports in the FT on June 2nd outlined that the outstanding departmental budget decisions included housing, energy, education and crime. The review is also a precursor to the Autumn Budget, ahead of which Reeves has once again ruled out a major tax increase for “working people”, and more generally that she has “no intention of raising taxes again on the scale of the 2024 budget”. However, Deutsche Bank believes the Chancellorʼs fiscal room will once again have been eroded by the time of the Autumn Budget, and as such Reeves will need to raise taxes by at least GBP 10bln. As a reminder, the 2024 Autumn Budget saw Reeves increase taxes by around GBP 40bln. US CPI (WED): Analysts expect headline CPI will rise +0.2% M/M in May (vs +0.2% in April), with the core rate expected to pick upto +0.3% M/M (vs +0.2% prior). The May CPI report will be closely watched to assess if the tariffs imposed in April are affecting consumer prices. Fedʼs Goolsbee has warned Aprilʼs inflation data might be the “last vestige” of lower inflation before tariff impacts emerge. The latest Fed Beige Book, based on data up to May 23rd, showed moderate price increases, with all districts reporting that higher tariffs are pushing costs and prices up. Contacts expecting to pass on tariff-related costs anticipated doing so within three months, suggesting the tariff effect could appear in upcoming reports. Mayʼs ISM PMI surveys showed price components remain elevated: manufacturing prices paid eased slightly to 69.4 from 69.8, while services rose to 68.7 from 65.1. With tariffs raising business costs, many firms are likely to pass these on to consumers, which the Fed will consider in its policy deliberations. Governor Waller sees tariffs causing a one-time price rise and believes the Fed should look through it, but this view is not widely shared on the Committee. Goolsbee is cautious about calling tariff effects transitory, while Kugler expects some permanency. Kashkari said he recognises the debate, but personally finds arguments against ignoring tariff-induced inflation more convincing. UK GDP (THU): Expectations are for M/M GDP in April to contract by 0.1% following the 0.2% expansion seen in the prior month. As a reminder, the previous release saw the rate of GDP growth slow to 0.2% in March vs. the 0.5% outturn in February, which was supported by a front-running of potential incoming tariffs. Overall, this saw the Q1 Q/Q rate jump to 0.7% from Q4ʼs meagre 0.1%, exceeding expectations at the BoE. Albeit, as highlighted by Investec, the MPC downplayed the upside and attributed it to “erratic factors”, concluding that underlying growth was near zero. This time around, Investec notes that the data will encapsulate the period surrounding Liberation Day, which saw larger-than-expected reciprocal tariffs announced. The subsequent declines in stock and bond markets made financing for firms more costly. As such, Investec suspects that “some production in the goods sector was therefore put on hold, including in the UK, as firms waited for some more clarity”. Investec is of the view that this should outweigh any positivity seen in the services sector on account of favourable weather conditions that boosted retail spending. From a policy perspective, the focus of the MPC is primarily on wage growth and inflation. Given that the M/M GDP series can be quite volatile, and distortions often explained away, any shifts in market pricing will likely be minor and not sustained. Copyright © 2025 Newsquawk Voice Limited. All rights reserved. Registered Office One Love Lane, London, EC2V 7JN, United Kingdom · Registered Number 12020774 · Registered in England and Wales.newsquawk.com · +44 20 3582 2778 · info@newsquawk.com Join GTA for FREE – Click HERE

Bitcoin made a new all-time high on May 22 when it crossed $112K. Although it dipped below $100K soon after, it’s now showing signs of recovery and a potential run upwards. Carlo Pruscino from CMC Markets believes that a Fed rate cut might drive $BTC back to $112K and potentially even beyond. Keep reading to find out Trump’s stance on a potential Fed rate cut, when we can expect one, and what the best altcoins to buy are to make the most of this pro-crypto situation. Trump Wants a Rate Cut Now Trump took to Truth Social to criticize the Fed on delayed rate cuts. He said that Europe has already had 10 rate cuts while the US is lagging behind. He also pointed out there’s no inflation anymore – in case that’s what is holding back the Fed. He said that if inflation were to come back, the Fed could simply raise the interest rate again. As of now, though, Trump believes that the US is paying a lot more in borrowing costs than it should. It’s worth noting that the Federal Reserve has been mulling over rate cuts for quite some time. However, Trump’s ongoing trade tariff war and uncertain trade policies have held it from making a decisive move. The current borrowing rate is 4.25%–4.50%. As per CME Group’s data, 97.5% of market participants believe that this will remain unchanged in the upcoming Fed meeting on June 18. More than 51% of people believe that a rate cut might come around mid-September, where rates may be slashed by 25 basis points. If we see a rate cut earlier than expected, $BTC may be the first major asset to react. When…further rate cuts come, if they’re coming a lot sooner than expected, that will then impact heavily on the future price moves or crypto on Bitcoin and some other cryptos as well. – Carlo Pruscino, a CMC Markets analyst To help you make the most out of upcoming policy changes, we’ve handpicked the best cryptos to invest in. 1. BTC Bull Token ($BTCBULL) – Best Altcoin to Buy Right Now, Free $BTC Airdrops Bitcoin will almost certainly be one of the biggest beneficiaries of a rising crypto market. In fact, the ‘digital gold’ is what will pull the crypto market to new highs in the first place. As such, BTC Bull Token ($BTCBULL), a Bitcoin-inspired meme coin, is the best crypto to buy if you’re bullish on $BTC and want to maximize your returns. Unlike other altcoins, $BTCBULL token holders will be rewarded with free $BTC. This will happen on two occasions: once when Bitcoin reaches $150K and another when it reaches $200K for the first time. Just make sure to store your $BTCBULL tokens in Best Wallet and participate in the airdrop events, which will take place on social media. In addition to having a genuine shot at grabbing real $BTC, you’ll also benefit from a monstrous rise in $BTCBULL’s price. According to our BTC Bull Token price prediction, the token can reach $0.0096 by 2026 – a 276% rise from current prices. Buy $BTCBULL now for just $0.00255 each. The project is in presale, where it has amassed nearly $7M. 2. Solaxy ($SOLX) – First-Ever Solana Layer-2, Insane $45M Presale Raise A rise in Bitcoin will likely lead to joyous times in the meme coin market as well, which is why we believe that Solaxy ($SOLX) could be one of the next cryptos to explode. Designed to strengthen the best blockchain for meme coins, $SOLX is being hyped as Solana’s prodigal son, and for good reason. After all, Solaxy will finally cure Solana of its congestion and scalability issues, which it has been facing ever since the success of $TRUMP and other viral meme coins overloaded it. Solaxy will build the first-ever Layer 2 scaling solution on Solana, which will offload transactions from the mainnet onto a sidechain. This will reduce the workload on Solana, thereby restoring its lightning-fast executions. Furthermore, this brand-new L2 will also process transactions in bulk, which will decrease the overall cost requirements on Solana. To participate in Solaxy’s one-of-a-kind mission and token growth – it’s predicted to rise by over 11,300% by 2030 – become an early investor in the project. It’s currently in presale, with over $45M raised, and you can get each token for just $0.001748. Here’s how to buy it. 3. PepeCoin ($PEP) – Pepe-Inspired Meme Coin Currently Among the Top Gainers Although you wouldn’t be wrong to think that PepeCoin ($PEP) borrows its popularity from the legendary $PEPE meme coin, it’s got a handful of unique features that have had a fair bit of say in it being one of the top trending cryptos. For instance, PepeCoin runs on its own blockchain, which is how it offers astonishingly low transaction fees and zero $ETH gas fees. Coming to its performance, $PEP is up over 3,000% since its inception in June 2024. More recently, the token has recorded 28% gains over the past thirty days. According to price action analysis, $PEP is closing in on a major resistance level ($0.00024), a break of which could see the token soar to $0.00027 and beyond. The Best Altcoins to Benefit from a Rate Cut, but They’re Not Completely Dependent on It With a rate cut on the horizon, major cryptos like Bitcoin and Ethereum could finally start rallying – and the altcoin space will only get more bullish. While new cryptos, like BTC Bull Token ($BTCBULL) and Solaxy ($SOLX), will indeed benefit from increased public borrowing and investment, their solid fundamentals and community hype will likely see them rising regardless. However, make sure you do your own research and due diligence before investing. Our articles aren’t financial advice, after all.

One of the reasons that the altcoin season seemed to not have begun until now is the fact that Bitcoin has dominated the market recovery, and thus, the BTC dominance remains very high. For the altcoin season to actually begin, past market performances show that there needs to be a major decline in the Bitcoin dominance. This is the ultimate trigger the market needs to confirm that altcoins will begin their own independent run. Bitcoin Dominance Needs To Fall To 62% The Bitcoin dominance is still trending at a high 64%, and this continues to be a thorn in the side of altcoins. With the dominance this high, the Bitcoin price continues to dictate where the market goes and has seen altcoins suffer crashes as a result of even the tiniest movement triggering a decline in prices. However, crypto analyst Quantum Ascend has pointed out an interesting formation in the chart, which is a 7-wave crashing pattern. This pattern has been completed, and this signals a possible drop in the Bitcoin dominance as time goes on. The last phase of the 7-wave pattern was when the dominance hit a peak of 64.6% before declining back down toward 64%. This pattern suggests that the Bitcoin dominance could possibly drop to 62%, which would be good news for those waiting for the altcoin season. The last time that the dominance was this low was back on May 14, and altcoins had rallied hard as a result. For this decline to be completed, the crypto analyst reveals that confirmation lies below 63.45%, as this is the Wave 6 lows. Once this support is broken, a sharp drop toward 62% is expected from here. As the analyst explains, “real momentum kicks in under 62%,” and this is when altcoin season moves with full force. Altcoin Season Is Not Over The topic of a possible altcoin season is currently one of the most debated in the crypto community as market participants remain split on where it is in the cycle. Some have said there will be no altcoin season similar to what was seen in 2021, while others have maintained that it is still possible. One analyst on the X (formerly Twitter) platform has lent their voice, pushing the narrative that the altcoin season is far from over. For a 2021-style altcoin season to happen, though, the crypto analyst says the altcoin market, which excludes the top 10 cryptos by market cap, must break above the $470 billion resistance like it did in previous cycles. Once this happens, then they expect the altcoin season to begin.

Last week, the US dollar fell to new lows for the year against half the G10 currencies, including sterling, the Norwegian krone, and Canadian, Australian, and New Zealand dollars. A key question is whether it is a breakout and a signal that ana acceleration of the dollar's decline is at hand. On balance, and within a larger downtrend, we think there is a better case for the dollar trade consolidate with a firmer bias in the near-term. The three-month moving average of nonfarm payrolls rose in both April and May. The unemployment rate has been steady at 4.2% for the past three months. From the Fed's vantage point, it is not signaling a new for urgent action. This will allow it to continue to allow the current restrictive setting to restrain price pressures. The May CPI, a highlight for the week ahead, is expected to be firm with small gains in both the headline and core year-over-year measures. Surveys continue to warn that most businesses intend on passing at least some of the higher tariffs on to their customers. Meanwhile, the US-China trade talks resume in London on Monday. The economic data highlights in addition to the US CPI include China's inflation and real sector data for May, and the UK employment report and April GDP. With Ukraine's continued drone attacks on Russia, a retaliatory strike by Moscow threatens to be significant and could weigh Europe. Contrary to talk of a capital strike against the US (over fiscal concerns and the erosion of US exceptionalism narrative), US 10-year bonds are the best performer among the G7 so far this year, and although the S&P 500 is underperforming Europe, it is posting a small gain on the year, while Japan's Nikkei and China's CSI are nursing small losses. US Drivers: The Trump administration's tariff strategy met judicial resistance, but the issue is far from resolved and adds to the uncertainty that hangs over businesses and investors. Congress does not appear ready to reclaim the power it deferred to the executive branch. Data: Fed officials have indicated that survey data alone will not persuade them. The economy still appears to being skewed by the behavior around the tariff announcements. Still, we learned last week that both auto sales and job growth slowed in May. Attention turns to prices this week. The May CPI is expected to have risen by 0.2%, which, given the base effect (unchanged in May 2024), the year-over-year rate may rise to 2.5% (from 2.3% in May), which would be the first increase since January. A 0.3% rise in the core rate could lift the year-over-year rate to 2.9% or 3.0%, on the rounding. The PPI will draw attention, but it is unlikely to match the 0.4%/0.5% month-over-month decline posted in April. Amid reports about poor reception to government bond auctions recently, the US Treasury will sell $119 bln in coupons in the week ahead. US yields rose ahead of the weekend and settled higher on the week. Prices: The Dollar Index may have put in a near-term low this past Thursday near 98.35. Still, a band of resistance is seen from about 99.65-100.00. At the same time, Russia's retaliation against Ukraine after Kyiv daring and impactful drone strike, could, in addition the economic macro story sparks a short-covering rally. A move above 100.50 could target 102.00. EMU Drivers: After cutting its policy rates by 200 bp beginning in June 2024, the ECB is likely to pause and wait for the cumulative effect of the easing to catch up to it. While tensions within the eurozone appear to be at a low ebb, tensions with the US have not been resolved. Indeed, thew new German government is considering a new 10% digital tax, which is likely to complicate efforts to reach a rapprochement with the US. Russia's retaliation against Ukraine also leaves the euro vulnerable. Data: This week's economic reports include the aggregate April trade surplus and industrial production figures. March data may have been flattered by efforts to get ahead of the US tariffs and April may see some payback. Consider that Germany reported a 3.6% jump March factory orders and a 2.3% jump in industrial output, but in April factory orders edged up 0.6% while industrial production dropped 1.4%. Similarly German exports in April fell 1.7% after rising 1.2% in March. Prices: The euro fell to almost $1.1370 after the US employment data but quickly recovered to trade back to around $1.1415, where it was prior to report. Still, we think there is a reasonable chance that Thursday's high, slightly shy of $1.1500 marks a near-term high. This leaves the euro vulnerable to a move back into the $1.1260-$1.1320 area. China Drivers: Beijing may be making inroads as the US retreats such as from the World Health Organization. However, its own policies seem to prevent it from taking as much advantage of vacuum the US is creating. Its currency is closely managed to be largely stable against the US dollar. Its 10-year yield is up about three basis points, year-to-date, while the US 10-year yield is off about 10 bp, the largest decline among the G10. The CSI 300 is underperforming with roughly 1.5% decline year-to-date. Data: China reports May CPI and PPI as the market open on Monday. With consumption rising at a roughly 8% compounded annual rate since the Great Financial Crisis, we tend to be more persuaded by the excess investment framing. The deflation in consumer prices partly reflects the heavy weight given to food, and the competition for market share, as the recent price cut announced by BYD illustrates. Lending figures are likely to have remained strong as local government and banks have new quotas to fill. May trade may have been distorted by the practical embargo until the deal was struck with the US on May 11. That said, some reports indicate US retails may have ordered containers of goods before the cooling-off period but by the end of May contain shipments had slowed again. Prices: The dollar approached the year's low against the offshore yuan set late May near CNH7.1615. It held and the dollar recovered toward CNH7.1940 after the US jobs data. We suspect it will recover more in the coming days. Initially, the CNH7.20 area beckons but upper end of the recent range extends toward CNH7.2240-60. Against the onshore yuan, the greenback can test the CNY7.20 area, where the 20-day moving average is found. It has not traded above this moving average for over a month. Japan Drivers: The yen's exchange rate continues to reflect the dollar's broad movement rather than interest rates, as is often the case. Over the past 30 sessions, changes in the exchange rate and the 10-year US yield are about 0.25, and with the two-year Treasury note, is more than double it. The correlation with changes of the Dollar Index is holding over 0.90. For the record, the correlation between changes in the exchange rate and US 10-year is higher than the correlation between changes in the exchange rate and Japanese 10-year yields, and greater than the correlation with changes in the 10-year spread. Data: It looks like a heavy economic slate in the coming days, but most of the data is old (like another look at Q1 GDP and revised April industrial output That leaves the April current account, some survey data and the tertiary industry index, which typically are not market movers. The swaps market has a little more than 16 bp of tightening before the end of the year. There is newfound hope in Tokyo that an agreement with the US may be struck ahead of the G7 summit in mid-June. Prices: After setting a six-month low in late May near CNH7.1615, the US dollar has entered a consolidative phase. The upper end of the range is around CNH7.2250. It finished last week on a firm note near CNH7.1900. Against the onshore yuan, the greenback can test the 20-day moving average (~CNY7.20), which it has not traded above for more than a month. UK Drivers: Two considerations appear to be helping elevate sterling. First, the market pulled back from the aggressiveness it had been discounting Bank of England monetary policy. The year-end rate, reflected in the swaps market, has risen by more than 30 bp in the past month. Second, is the broad weakness in the greenback. The inverse correlation between changes in sterling and the Dollar Index is near -0.90. That said, given the weight of the euro in the Dollar Index, it is hard to disentangle the correlation with the euro from the Dollar Index. Data: The UK issues its monthly labor market report and April GDP. The UK economy grew by 0.7% in Q1 to lead the G7, but it looks set to slow to a crawl for the next few quarters. Moreover, there is little chance that the data will prompt a re-think of the low odds given to a change in the base rate at next week's Bank of England meeting. Prices: Sterling set a three-year high last week near $1.3615. The momentum was not sustained and after the US jobs data, sterling approached $1.3500. For the first time last week, ahead of the weekend, sterling settled below its five-day moving average (~$1.3545). Nearby support is seen near $1.3490 and then $1.3435, where the 20-day moving average is found. Sterling has not settled below the 20-day moving average since May 16. Canada Drivers: The movement of the Canadian dollar seems more sensitive to the general direction of the US dollar (DXY) than interest rates, S&P 500 (risk), and oil. The correlation of differences with the Dollar Index is almost 0.75 and 0.68 for the past 30 and 60 sessions, respectively. The correlation with gold is a close second, around 0.62 and 0.55 for the 30- and 60-day periods, respectively. Data: After the jobs report and Bank of Canada meeting last week, the economic diary turns quiet. April building permits, manufacture sales, and the Q1 capacity utilization rate are on tap. The swaps market has downgraded the chances of a July cut to about 30% from nearly 65% at the end of last week. The year end rate is seen near 2.50%, up from less than 2.20% in late April and 2.35% at the end of May. Prices: The US dollar recorded a new seven-month low last week around CAD1.3635. In the 14 weeks since the end of February, the greenback has posted weekly advances only four times. It is likely a near-term low is in place. That said, the momentum indicators have not turned. Initial resistance may be encountered in the CAD1.3725-50 area. Clearing that could target CAD1.3800-30. Australia Drivers: The rolling 30-day correlation between changes in the Australian dollar and Dollar Index are a little less than 0.75 a little higher than the correlation with the Canadian dollar (~0.65) and gold (~0.60). However, over 60 sessions the correlation is near 0.70 with the Canadian dollar, 0.60 with gold, and 0.55with the Dollar Index. Data: It is an exceptionally quiet week. The economic calendar features consumer and business confidence surveys. The futures market is discounting about an 80% chance of a cut at next month's central bank meeting, up from about a 2/3 chance at the end of last week and the previous week. The current overnight cash target rate is 3.85%, and the futures market sees it near 3.09% at the end of the year, up a couple of basis points last week. Prices: The Australian dollar made a marginal new high for the year on June 5 slightly below $0.6540. It settled above $0.6500 for the first time since the end of last November, but there was no follow-through ahead of the weekend. It settled slightly below $0.6500 again. A break of $0.6480 could spur a return to the $0.6445-50 area initially. Better support is around $0.6400, which the Aussie has not settled below since May 12. Mexico Drivers: The Mexican peso's resilience appears to reflect the broad dollar weakness and the favorable interest rate differential. With Mexico's central bank cutting rates aggressive, the carry not as large as it was but with a falling dollar, the total return in the first five months of the year was near 11.75%. Mexico's 10-year peso bond yield has fallen 110 bp this year to 9.30%. It 10-year dollar bond yield is off nearly 30 bp to a little below 6.35%. Data: Mexico reports May's CPI and April industrial production. Given the CPI for the first half of May, market participants should be prepared for a firm CPI reading that lifts the headline above 4%, the top of the target range. The core rate at 3.93% at the end of April and 3.97% in mid-May could have also exceeded the 4% threshold. Nevertheless, given the growth downgrade, the central bank is still likely to deliver a 50 bp cut later this month. Prices: The dollar ground to a new low against the peso since last September, a little below MXN19.10 before the weekend. Despite the dollar's broader gains, it settled below the previous session's low (~MXN19.14). The lower Bollinger Band is near MXN19.08. The momentum indicators are turning down from mid-range. The greenback has held up above MXN19.00 late last August and there seems to be little in the way of re-test on it. Disclaimer

Amid the Trump-Musk online feud, Bitcoin (BTC) has hovered within the mid-and-low areas of its local price range, hitting a one-month low near the $100,000 support. However, some analysts suggest that the cryptocurrency is preparing for the “real” price jump toward a new all-time high (ATH) Bitcoin Prepares For ‘Real Breakout’ Over the past 24 hours, Bitcoin experienced significant volatility fueled by the online feud between US President Donald Trump and Tesla and X owner Elon Musk. The flagship crypto’s price took a beating on Thursday afternoon after dropping by over 5% from the $105,000 level to the $100,000 support. Before the pullback, BTC had been attempting to reclaim its local mid-range area after its recent performance. Notably, the cryptocurrency traded sideways following its ATH rally to $111,980, hovering between the $106,800 and $109,700 price range. However, the cryptocurrency lost the key $106,800 support amid last week’s market retracement, which saw Bitcoin drop to $102,000 over the weekend. Since then, BTC has been attempting to reclaim the current levels. After yesterday’s drop, the largest cryptocurrency by market capitalization has surged 4.5%, climbing above the $104,000 level. Crypto trader Coinvo highlighted BTC’s one-year chart, pointing to the similarly looking price action between 2024 and 2025. According to the chart, Bitcoin recorded its first major pump after reclaiming its yearly opening level, consolidating within its new range for weeks before climbing to its Q1 2024 ATH. This year, the cryptocurrency has had a similar performance, although delayed, having reclaimed the yearly opening range and surging to the first major price surge in May. Similarly, analyst Alex Clay suggested that Bitcoin is preparing for the “real breakout” following its retests of the range’s mid-zone resistance in Q1 2025 and a “false” breakout last month. To the analyst, “We grabbed the liquidity below the Broken Supply Zone. Now looking for a Real Breakout” toward the $120,000 mark. BTC Price To Range For Two Weeks? The Cryptonomist noted that Bitcoin displays a 3-week bullish falling wedge formation, with the lower boundary sitting around the $101,000 level. Following the recent price drop, BTC bounced from that area, and could break out of the pattern if it reclaims the $105,000 barrier as support, targeting the $118,000-$120,000 levels. Meanwhile, market watcher Daan Crypto Trades highlighted that its price now trades at the mid-range again, near the Monthly opening price. To the trader, “it’s pretty safe to assume that these range high/lows are good triggers for whatever larger trend follows,” as BTC has been having a “relatively large move early in the month.” As he previously explained, Bitcoin tends to set its monthly high or low during the first week of the month, followed by a reversal in the opposite direction and a trend continuation until a new month begins. Based on this, he warned that if the price drops below yesterday’s lows, it will continue to trend down for another week or two, displaying “weakness and confirming a larger correction is due.” Nonetheless, if price surges above the monthly highs, around the $106,700 mark, “the correction is more likely to be over and there’s a good likelihood that we head to all-time highs and beyond.” “Good chance we range around this area for a while, though, without any of these levels breaking,” he concluded. As of this writing, Bitcoin trades at $104,224, a 2.6% increase in the daily timeframe.

Africa crypto news: A judge in South Africa wants modern crypto laws and banks in Kenya ready for crypto as Tether invests in Shiga Digital. A South African judge has criticized the country’s financial regulators for relying on Apartheid-era laws to regulate crypto. In Kenya, a Central Bank survey reveals that an increasing number of banks are prepared to support cryptocurrency payments. Meanwhile, Tether, the issuer of the popular USDT stablecoin, has invested in the pan-African crypto and fintech platform Shiga Digital. Tether wants to expand its presence in the continent. Let’s explore these crypto stories that dominated headlines in Africa this week: DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in June 2025 South Africa Crypto News: Judge Calls for Modern Laws A High Court judge in South Africa, Mandlenkosi Motha, has criticized the South African Reserve Bank for using Apartheid-era laws to regulate crypto. He noted that cryptos have existed for 15 years, and there is no reason to continue using outdated laws. These comments were made in a ruling involving South African bank Standard Bank and James Ewing & Sons, which had transferred funds to international crypto exchanges. Part of the discussion centered on South African exchange control laws. Judge Motha agreed with submissions made during the case regarding the inadequacy of old laws for regulating cryptos, including some of the next cryptos to explode. These comments highlight the need to modernize exchange control and related legislation for crypto. It especially comes when South Africa is becoming a crypto hub. USDT is a crucial trading pair for thousands of cryptos and is a safe refuge for traders seeking to mitigate volatility in their trading. This partnership could be a win-win, as Shiga Digital has built a suite of products and over-the-counter services for its users. Shiga Digital specializes in blockchain apps for digital finance and cloud technology. It has a pan-African focus, with co-founder Abiola Shigbeni bringing insight into the African market. DISCOVER: Next 1000x Crypto – 10 Coins That Could 1000x in 2025 Africa Crypto News: South Africa Modern Laws, Kenya Banks Crypto South Africa crypto laws: Judge wants enactment of modern crypto laws Kenyan crypto news: Central Bank survey shows banks are ready for cryptos Africa crypto news: Tether invests in Shiga Digital as it eyes regional expansion 2025 The post Africa Crypto News Week in Review: South Africa Calls for Modern Crypto Laws, Kenyan Banks Ready for Crypto as Tether Expands appeared first on 99Bitcoins.

Data shows the cryptocurrency sector has seen a large amount of liquidations following the volatility that Bitcoin and others have gone through in the past day. Bitcoin Has Seen A Rollercoaster Over The Last 24 Hours The past day has been a wild time for Bitcoin and the cryptocurrency market as a whole as prices have displayed some notable volatility. BTC, especially, has gone through quite the rollercoaster, with its price seeing swings in both the up and down direction. Below is a chart that shows how the recent price action has looked for the number one digital asset. As is visible in the graph, the Bitcoin price first went down to a low of $100,400 from a high around $105,800 and then witnessed a recovery run back to $104,100. The coin is still overall down during the past day, but its loss stands at less than 2%. The other cryptocurrencies haven’t been so lucky, as their prices haven’t quite retraced to the same degree. Ethereum is still down almost 6% and Dogecoin about 7%. The volatile storm in the sector has come following a public feud between US President Donald Trump and Tesla founder Elon Musk. The spat began when the former said in an Oval Office meeting that he was ‘disappointed’ in the latter over his criticism of the One Big Beautiful Bill Act. Musk had previously called the bill a ‘disgusting abomination.’ The two let sparks fly on social media, with the SpaceX founder even accusing the President of being in the Epstein files. “That is the real reason they have not been made public,” said Musk in an X post. Crypto Liquidations Have Neared A Billion With all the volatility that has gripped Bitcoin and company during the past day, it’s only to be expected that the derivatives market would feel the impact. According to data from CoinGlass, a mass amount of liquidations have piled up on the various centralized exchanges. “Liquidation” here naturally refers to the forceful closure that any open contract has to go through if it amasses losses of a certain percentage. As displayed in the table, the cryptocurrency market has seen liquidations amounting to a whopping $970 million over the last 24 hours. Out of these, a staggering $854 million, representing 88% of the total, came from the long investors alone. This is naturally down to the fact that prices as a whole have gone down during this window. Like usual, Bitcoin and Ethereum have led the sector in liquidations, contributing $346 million and $286 million, respectively. A mass liquidation event is popularly known as a ‘squeeze.’ Considering that the longs have made up for an overwhelming majority of the latest event, it could be termed a long squeeze.

Bitcoin is showing signs of recovery after a brief but sharp dip triggered by recent market turbulence linked to public tensions between Donald Trump and Elon Musk. The price of BTC had dropped to nearly $100,000 during the height of the reaction, but has since rebounded. At the time of writing, Bitcoin is trading at $104,891, marking a steady recovery from the 24-hour low. While the broader crypto market continues to digest the fallout, new data suggests that another force, miner activity, is beginning to shape the near-term outlook. Bitcoin Surge in Miner Inflows Could Pressure Price Action According to on-chain analytics published by CryptoQuant contributor CryptoOnchain, Bitcoin miners have dramatically increased the volume of BTC transferred to exchanges. Between May 19 and May 28, miner-to-exchange inflows exceeded $1 billion per day, levels not seen in previous market cycles. These inflows are often viewed as a proxy for miners’ intent to sell, which could influence short-term supply dynamics and introduce added volatility to BTC’s spot market performance. The rise in realized inflows from miners to exchanges is interpreted as a sign of growing sell-side pressure. Since miners are key liquidity providers in the Bitcoin ecosystem, large-scale transfers to exchanges are typically seen as preparations to offload BTC. Historically, spikes in miner outflows have preceded periods of downward price pressure, particularly when they occur alongside fragile market conditions. CryptoOnchain emphasizes that while miner selling isn’t inherently negative, it can impact short-term price stability. As a result, traders and investors often monitor these flows to better assess potential risks. When miner inflows surge, it reflects the sector’s sentiment regarding profitability, operational stress, or anticipated price changes. CryptoOnchain noted: Paying close attention to these inflows—especially during historical peaks like the current phase—can help with risk management and more informed trading decisions. Hash Ribbon Signal Suggests Longer-Term Opportunity Amid rising sell pressure, another indicator is flashing a potential opportunity. CryptoQuant analyst Darkfost noted that Bitcoin’s Hash Ribbons indicator, a metric derived from comparing 30-day and 60-day moving averages of network hashrate, has recently produced a new buy signal. This metric is used to evaluate miner stress and recovery phases, and is generally interpreted as a signal that miners have gone through a period of capitulation and are now stabilizing or recovering. This signal has historically aligned with favorable long-term entry points, except in unique events like China’s 2021 mining ban. While the short-term effects of mining stress may contribute to price weakness, analysts suggest that these periods often set the stage for longer-term rallies. When miner capitulation resolves, it can clear excess supply from the market and establish stronger support levels. Featured image created with DALL-E, Chart from TradingView

Bitcoin dipped to $103,450 yesterday, wiping out about $1 billion in leveraged bets over the past 24 hours. Many traders hurried to sell, but the fall was short-lived. Bitcoin found its footing and climbed back to $104,400 by the time this report was filed. According to a recent analysis by crypto researcher Klarch, this pullback was expected and might just be a pit stop before another run to fresh highs. Recurring Cycle Patterns Based on examination by Klarch, Bitcoin tends to follow a familiar path after each halving. One year after the 2016 halving, it rose about 280%. After the 2020 halving, it jumped roughly 550% in 367 days. Right now, Bitcoin has only moved up around 70% in the 416 days since the last halving. Klarch points out that in past cycles, these numbers picked up speed after a slow start. So, he says, there’s still room for more growth. These percentages matter because they hint at what might come next. If Bitcoin’s history repeats, the best gains could be just around the corner. Information from blockchain data supports this too. For example, trading volume and on-chain addresses hit new highs in recent weeks. That fits the pattern Klarch described—after the initial rise, there’s often a bigger rally. Signs Of The Next Surge Bitcoin set a record of $112,100 on January 20, then edged up to $111,980 on May 22. Rather than signaling an end, Klarch believes these milestones mark the start of a higher peak. He sees those moves as part of the cycle’s build-up, not its climax. Based on his chart work, each cycle has multiple tops before it finally tops out. Klarch didn’t offer an exact date for a new peak, but he did suggest that Bitcoin has not yet hit its ceiling. He notes that a series of all-time highs usually happens when sentiment is still turning positive. Once more traders feel FOMO, the price often accelerates rapidly. Demand And Liquidity Driving Price Liquidity pouring into the crypto market has been a key talking point. Klarch says that steady buys from institutions and US Bitcoin spot ETFs have made Bitcoin scarcer on exchanges. Michael Saylor’s Strategy and other big money players keep buying, which pushes supply lower. Based on figures presented by Klarch, this trend could lift Bitcoin to around $180,000—a rise of about 75% from current levels. VanEck, an asset manager, has shared a similar target. That makes Klarch’s outlook feel less like a lone voice. If big funds keep moving in and retail interest stays high, Bitcoin’s price might stay on the upswing. However, any pause in ETF inflows or a sudden shift in global markets could change that story. Featured image from Imagen, chart from TradingView

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.