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Bitcoin (BTC) continues to experience an extensive price correction losing over 7% of its market value in the last month. The flagship cryptocurrency has struggled to regain its bullish form after setting a new all-time high leading to speculations of a potential market top. Interestingly, popular market analyst and the host of The Wolf of All Streets Podcast, Scott Melker has recently shared a market development that supports such bearish notions. Bitcoin Set For 26% Crash? In an X post on June 21, Scott Melker shares a cautionary insight on the Bitcoin market hinting at a bearish long-term outlook. The season analyst reports that data from TradingView shows that Bitcoin’s has now closed below the 50-day moving average (50 MA) on the daily trading chart, a development that last occurred two months ago when Bitcoin traded around $84,000. The 50MA is a commonly used technical indicator that represents the average closing price of an asset over the past 50 days. As a lagging indicator, it helps traders identify the prevailing market trend. When the price remains above the 50 MA, it typically signals a bullish trend, while a move below the 50 MA may indicate bearish momentum or a potential trend reversal. Interestingly, Melker notes that Bitcoin last lost the 50 MA as a support zone in early February trading around $100,000. However, the loss of this price floor triggered an immense selling pressure forcing Bitcoin into prolonged market correction to reach market low of $74,000 in April. Amidst the current market uncertainty, the recent daily price close below 50 MA strengthens bearish sentiments suggesting Bitcoin is due for another potential 26% crash. In that case, investors could expect a downside target of around $76,200. To invalidate such bearish projections, Bitcoin must continue to hold above the $100,000 resistance level, fueling the chances to retest the current all-time high, and perhaps re-enter price discovery mode. Bitcoin Price Overview At press time, Bitcoin is trading at $102,889 after a 1.43% decline in the last day. In tandem, the asset’s daily trading volume has crashed by 29.30% and is presently valued at $35.15 billion. With a market cap of $2.02 trillion, the “digital gold” continues to rank as the largest cryptocurrency and fifth largest asset in the world. However, according to prominent market analyst Ali Martinez, Bitcoin may actually be slipping into bearish territory as similarly predicted by Scott Melker. Based on insights from the MVRV pricing bands, if the market lose the current support at $102,000, it opens the door to a potential decline toward $82,000.

On Saturday, Texas became the first-ever US state to commit public funds towards the purchase of Bitcoin. Governor Greg Abbott signed Senate Bill 21 (SB21), officially authorizing the establishment of the Texas Strategic Bitcoin Reserve. Keep reading to learn more about this development, increasing investor and government confidence in Bitcoin’s long-term potential, and what’s the best crypto to buy now in order to ride the upcoming crypto wave. Texas Passes Groundbreaking Bitcoin Reserve Bill ‘We can buy land, we can buy gold; I think the state of Texas should have the option of evaluating the best performing asset over the last 10 years.’ This is what the Texas Bitcoin bill’s author, State Senator Charles Schwertner, said in February. Four months later, Texas has put its faith in the ‘digital gold’ to strengthen its financials and act as an effective hedge against inflation. It’s worth noting that although Texas is the third US state to create a Bitcoin reserve (after Arizona and New Hampshire), it’s the first to create a publicly-funded reserve. Neither of the other two has allocated public funds for the purchase of Bitcoin. By putting actual taxpayer dollars into $BTC, Texas has not only officially recognized Bitcoin as a store of value but also signaled its unwavering trust and long-term commitment to the digital asset. A publicly-funded reserve is also likely to increase demand for Bitcoin. It’s also worth mentioning that large public companies like Michael Saylor’s Strategy have aggressively bought Bitcoin over the past few months. With here are some of the best new cryptos you can buy to benefit from Bitcoin’s growing acceptance among corporations and government agencies. 1. BTC Bull Token ($BTCBULL) – Best Crypto to Buy Now, Get Free $BTC Airdrops BTC Bull Token ($BTCBULL) is the best crypto to invest in if you want to eke out the maximum amount of returns possible from Bitcoin’s bull run. $BTCBULL’s biggest selling point is that it’s the ONLY crypto on the market right now, offering free (and completely legit) $BTC to its token holders. If you’re a $BTCBULL holder who has stored his tokens in Best Wallet, you’ll receive your share of free $BTC (depending on your $BTCBULL holdings) every time the king cryptocurrency reaches a landmark, such as $150K and $200K, for the first time. Thanks to its never-before-seen approach to rallying behind Bitcoin and community rewards, BTC Bull Token is predicted to explode 270% and reach $0.0096 by 2026. A huge reason behind this is the project’s deflationary model, which will burn a part of the total $BTCBULL token supply at regular intervals, creating a supply shortage and hiking prices. The best part? $BTCBULL is currently in presale, where it has raised over $7.2M. Each token is priced at $0.002575, and here’s how to buy it. 2. Bitcoin Hyper ($HYPER) – Building Layer 2 on Bitcoin for Scalability & Fast Transactions Despite being the OG blockchain, Bitcoin has been struggling with slow transaction speeds and high fees, as well as limited compatibility with decentralized applications and Web3. Enter Bitcoin Hyper ($HYPER). By building a Bitcoin Layer 2 and connecting it to the Layer 1 using a Canonical Bridge and Solana Virtual Machine (SVM) integration, Bitcoin Hyper aims to bring programmability and scalability to the Bitcoin ecosystem. Plus, it will do so without impacting the network’s security and decentralization benefits. Here’s how it works: You send $BTC through the Canonical Bridge, which converts it into wrapped $BTC on the L2. You can use wrapped $BTC to access high-speed DeFi apps, pay for transactions on the L2, etc. When you’re done, just raise a withdrawal request on the L2 network. It will again use a smart contract to verify the transaction and convert wrapped $BTC back to original $BTC. Luckily for you, one $HYPER is currently available for just $0.011975 (the token could soar 2,000% by 2030), and the project has in total raised over $1.5M. Here’s how to buy it. 3. Tutorial ($TUT) – Educating Folks About Everything Crypto Tutorial ($TUT) has been one of the biggest beneficiaries of crypto’s growth and increasing awareness among the masses. That’s because it’s an AI-powered tool that educates people about different crypto-related topics and tools, including setting up a crypto wallet. Other ‘tutorials’ in its repertoire include teaching people how to write smart contracts, trade on the best decentralized exchanges, and learn everything there is to know about the BNB chain ecosystem. $TUT has been on a sensational run of late, gaining more than 25% over just the past 7 days. It’s currently trading at $0.03583, offering a discounted entry point before it explodes to mimic crypto’s rise. As States Back $BTC, Altcoins Emerge as Attractive Investments With regulated, state-backed crypto holdings becoming increasingly mainstream, we’re clearly headed towards a world where diversified crypto assets (the best altcoins included) are looked at as both stores of value and investment opportunities. However, make sure you do your own research and due diligence before investing in crypto. The market is highly uncertain, and our article isn’t financial advice.

Dateline Resources (ASX: DTR) has begun geotechnical sampling on its 100%-owned Colosseum gold-REE (rare earth elements) project in San Bernardino County, California, with a view to defining targets for upcoming drilling. In a press release last week, the Australian explorer said its field team is systematically collecting approximately 1,200 samples across the broader project area, starting with the highest-priority zones highlighted by recent geological mapping and gravity survey reviews. All samples will undergo multi-element laboratory analysis (including the full suite of rare earth elements) to detect geochemical anomalies and pathfinder elements, Dateline said, adding that these results will help generate detailed geochemical maps and prioritize areas with the greatest gold or REE potential for drilling. While the initial set of results is expected as early as July, the company said it will wait for the entire dataset to arrive before analyzing the results. In addition, the Dateline team will also conduct a magnetotelluric (MT) survey during the latter stages of the soil program, with the aim of visualizing the geological structures on the Colosseum property. It may also use ground-based magnetic surveys to support the MT survey. Right timing The start of exploration work on the Colosseum project comes at a time when both gold and rare earths are garnering increased attention. Gold, which thrives in turbulent times, has been one of the top-performing commodities this year, and in mid-April set a new record of $3,500/oz. Rare earths have become the focal point of the US tariff war with China, which controls nearly all of the world’s supply and has leveraged this in trade discussions. For decades, the US has relied heavily on Chinese imports. Currently, the nation has only one producing REE mine — the Mountain Pass in California — located 10 km south of Dateline’s Colosseum project. The Colosseum project already has a rich history of gold mining dating to the California Gold Rush era. Commercial-scale gold mining took place on the property in the late 1980s under the ownership of Canada’s LAC Minerals, producing a total of 344,000 oz. from two open pits until its closure in 1993. Since then, the property has had minimal activity. Its potential for REE production had yet to be explored. “The last time this mine was in operation, the gold price was under $350/oz., and there was little incentive to do follow-up exploration work for hidden breccia pipes. During that period, rare earth elements (REEs) were not yet a focus, so the significant REE findings at Colosseum has only recently become important,” Dateline’s managing director Stephen Baghdadi explained. “We are now in a very different environment, with much higher gold prices and strong strategic demand for REEs, which makes our systematic field program at Colosseum essential,” he added. According to the company, the current exploration initiatives are key to its strategy to advance the project’s dual gold-REE potential. Any encouraging anomalies or targets defined by the soil and MT surveys will feed into the planning of the upcoming drilling campaigns, it said. An initial REE-focused drilling program is currently being finalized. DOI endorsement The Colosseum project recently received the public support of the US Department of the Interior due to its potential to become America’s second REE mine. Speaking to Fox News earlier this month, Secretary of the Interior Doug Burgum called the revival of the Colosseum mine project in California a “pivotal step” towards bolstering America’s supply of critical minerals. Review of historical data by Dateline’s team has led to the conclusion that Colosseum shares the same geological setting as Mountain Pass, which started production in 1952 and was a primary global source of rare earth elements (REE) from the 1960s to the 1990s. The project currently has no estimated resources for REE, only a JORC-2012-compliant gold resource of 1.1 million oz., with about two-thirds in the measured and indicated categories. A scoping study in August 2024 outlined an eight-plus-year mine life averaging 75,000 oz. of gold production per annum.

Bitcoin’s narrow price movement over the past week contradicts a much different development in the futures market. According to Axel Adler Jr., an analyst at on-chain analytics platform CryptoQuant, a sharp rise in the long liquidation dominance metric could set the stage for a significant shift in sentiment that may completely wash out bears from the market. Adler shared the data in a recent post on X, accompanied by a chart showing previous points that resemble the current setup. Long Liquidation Spike Without Price Crash The dominance of long liquidations has jumped from 0% to +10% over the past seven days, a move that typically shows distress among bullish traders. However, what makes the current development especially noteworthy is the absence of a steep crash in Bitcoin’s price. Instead, in the just concluded week, Bitcoin held mostly within the $103,000 to $106,000 range until a recent drop, despite facing increasing pressure from long-side liquidations. Axel Adler Jr. explained that this sustained liquidation of long positions without a full-blown price collapse indicates sustained buyer support. According to data from CryptoQuant, BTC’s long liquidations hit 2,200 BTC, the highest in the past week. Usually, a surge in long liquidations suggests that traders who were anticipating a price rally are being pushed out of their positions under pressure. The CryptoQuant chart below shows how spikes in long liquidation dominance, especially in the 15% to 20% range, have always preceded bullish reversals. According to the analyst, if this metric rises by another 5–7%, it could cause a high-probability scenario where bearish positions are washed out and flip Bitcoin’s price movements in favor of the bulls. Image From X: @AxelAdlerJr Large Wallets Accumulate As Retail Exits Data from Santiment, another on-chain analytics platform, shows an interesting dynamic playing out among Bitcoin holders. Over the past ten days, wallets holding over 10 BTC have increased by 231 addresses, which is a 0.15% rise. Meanwhile, smaller retail wallets containing between 0.001 and 10 BTC have dropped by 37,465 in the same timeframe. This trend highlights a divergence in sentiment between large and retail holders. According to Santiment, the shift where whales and sharks accumulate while retail exits is a bullish combination for Bitcoin. Bitcoin’s market value is hovering just below $104,000 during this accumulation phase, and there could be an eventual upward breakout once retail holders begin to reenter. Image From X: Santiment Despite the underlying on-chain strength, Bitcoin’s spot price has taken a short-term hit in the past 48 hours. During this timeframe, Bitcoin’s price has slipped below support levels between $106,000 and $103,000. At the time of writing, Bitcoin is trading at $102,670, down by 2.6% in the past 24 hours. The decline can be largely attributed to recent U.S. strikes on Iran. The U.S. military strikes on Iranian nuclear facilities (June 21-22) caused immediate risk aversion across markets. Bitcoin fell 3.2% after announcements of the strikes, much like its 6% drop during similar 2020 Iran tensions.

What will be Iran’s response to the US bombing? President Donald Trump just attacked and bombed Iran’s Fordow, Natanz, and Isfahan nuclear sites and then called for peace. He just declared war; there is no going back. In response, crypto markets were as chaotic and capricious as the U.S. president, with Bitcoin crashing to $100,945 within minutes, slashing $40 billion from the total market before leveling off at $102,350. Meanwhile, Iran labeled the strikes a violation of the Non-Proliferation Treaty. It returned fire—literally—launching missiles deep into Israeli territory as the region tilted further toward all-out war. What else can we expect from this conflict and the greater impact on international equities, crypto, and the global markets? BitcoinPriceMarket CapBTC$2.04T24h7d30d1yAll time Iran-Israel Missile Exchanges Amplify Tensions After Saturday’s U.S.-Israel-led attack, Iran reportedly launched two waves of missiles, totaling 27 strikes, hitting areas from the Golan Heights to the upper Galilee and Tel Aviv. Israeli authorities confirmed damage at ten different sites, including severe impacts in metropolitan regions like Haifa and Tel Aviv. Emergency medical crews reported 16 injuries as they continue to comb through affected areas. For the first time, Iran’s missile strategy involved attacks in close succession, intensifying the ongoing exchange of strikes. BTC’s footing looks shaky at $102K, a level it’s tested more than once this week. A fresh death cross with the SMA diving below the 200 adds to the bearish outlook. Bollinger Bands, which briefly expanded during the selloff, have narrowed again. Historically, that’s the calm before the next storm. Historically, when Bitcoin has stayed relatively silent for weeks, it’s the precursor to parabolic gains. Meanwhile, Iran has doubled down, vowing to press ahead with its nuclear plans and warning off outside interference. What’s Next for WW3? Tensions are rising fast, and the fallout may not stop at Iran’s borders. Retaliatory strikes on U.S. bases or allied territories remain a serious threat. The IAEA hasn’t weighed in yet, but geopolitical analysts are already game-planning what happens if Russia or China make further moves on Ukraine or Taiwan in the chaos. With uncertainty rising, investors are hedging hard. Don’t be surprised if Bitcoin continues to rebound. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways In response to the Iran-U.S.-Israeli war, crypto markets were as chaotic and capricious as the U.S. president Historically, when Bitcoin has stayed relatively silent for weeks, it’s the precursor to parabolic gains. The post Iran Response to US Bombing: Bitcoin Recovers As WW3 Looms appeared first on 99Bitcoins.

A wave of shock hit the cryptocurrency market and Bitcoin price Saturday evening following news of a successful U.S. strike on Iranian nuclear sites, disclosed by President Trump. As we published on Friday, journalist Seymour Hersh said Trump would bomb on the weekend to avoid a stock market crash. However, that can’t spare crypto, which is a 24/7 market. BTC ▼-1.16%, often reactive to geopolitical shockwaves, tumbled to $100,945 before clawing its way back to $102,350 by the night’s close. Meanwhile, the entire crypto market lost $40 billion in three volatile hours, underscoring its vulnerability to global flashpoints. BitcoinPriceMarket CapBTC$2.04T24h7d30d1yAll time Timeline of Events and the Bitcoin Price Reaction Trump took to Truth Social at 7:50 p.m., declaring, “We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan.… Congratulations to our great American Warriors.” The post immediately circulated across social media, coinciding with Bitcoin’s swift drop. (X) By 7:53 p.m. EST, the Bitcoin price had fallen to $100,945, reacting sharply to news of U.S. airstrikes on Iran’s critical nuclear infrastructure. The fear was brief, showcasing how strong Bitcoin is as a safe haven. By 9 p.m. EST, BTC had rebounded to $102,350, despite a day thick with tension as stealth jets were reportedly airborne and the President cautioned that further strikes weren’t off the table. Geopolitical Risks and Potential Fallout: Is This WW3? Rumors are now swirling that U.S. airstrikes in Iran were a calculated display of power designed to minimize casualties. Conversely, conflicting reports say that Iran is committed to retaliation against U.S. military bases and Israel itself. The unspoken option is that Iran could launch attacks within the United States. That anxiety hit crypto markets like a brick, wiping out $40 billion in value. Ethereum, Solana, and other major altcoins crashed harder than Bitcoin, with $ETH down 6.7%. Despite the chaos, Trump called the strikes on Fordow, Natanz, and Esfahan a resounding success, while experts say the risk of escalation is growing every hour. This came after two weeks of failed diplomacy in Iran, and many question if the U.S. took peace talks seriously at all. A Cautious Path Forward For The Bitcoin Price Trump spoke at 10:00 EST, but sidestepped any promise that the airstrikes were over. The ambiguity left markets twitchy and investors running blind into the next news cycle. With tensions still high, there’s a growing sense that this could pull in bigger players—Russia, China, maybe more—and open a chapter nobody’s ready to write. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways A wave of shock hit the cryptocurrency market and Bitcoin price Saturday evening following news of a successful U.S. strike on Iranian nuclear sites The prospect of broader conflict still looms. The post Bitcoin Price Dips Below $101K After U.S. Airstrike in Iran appeared first on 99Bitcoins.

The spot Bitcoin ETFs (exchange-traded funds) have been in good form over the past few weeks, receiving renewed interest from investors in the United States. This recent spurt of momentum has been a rare bright spark in the crypto market, which has been overwhelmed with investor uncertainty lately. Interestingly, the typically straight line between the spot Bitcoin ETFs’ performance and the BTC price action has not been particularly straight in the past few weeks. While the crypto-linked financial products have shone in the past few days, the underlying premier cryptocurrency has seen better days. Spot Bitcoin ETFs Record $1 Billion In The Past Week According to the latest market data, the US-based spot Bitcoin ETF market recorded a total net inflow of $6.37 million on Friday, June 20. This performance marked the ninth successive day of positive capital influx for the crypto investment products, signaling increased investor interest and demand. SoSoValue data shows that BlackRock’s iShares Bitcoin Trust (with the ticker IBIT) was the only BTC exchange-traded fund with net inflow on Friday. The trillion-dollar asset manager’s fund added a remarkable $46.91 million in value to close the week, as it continues to lead the pack in net assets. Fidelity Wise Origin Bitcoin Fund (FBTC) was the only other Bitcoin ETF that recorded any activity on Friday. According to market data, the second-largest spot BTC exchange-traded fund by net assets posted a daily net outflow of $40.55 million on the day. Nonetheless, the $6.37 million single-day performance pushed the US-based Bitcoin ETFs’ weekly record above the $1 billion mark. While this figure falls short of the exchange-traded funds’ performance ($1.39 billion) in the previous week, it still represents a trend in the right direction after enduring two weeks of nearly $300 million in outflows. Bitcoin Price Falls Below $101,000 Level Despite the positive performances of the US-based Bitcoin ETFs, BTC’s price has continued to struggle to build any sustained bullish momentum over the past two weeks. The flagship cryptocurrency seemed set for another trip to a new all-time-high price earlier this week before succumbing to some bearish pressure mid-week. In the late hours of Saturday, the price of BTC fell to below the $101,500 level as another wave of downward pressure hit the crypto market. As of this writing, the market leader is valued at around $101,484, reflecting an almost 2% price decline in the past 24 hours. According to data from CoinGecko, the price of Bitcoin is down by nearly 4% in the past seven days.

Solana has broken down decisively, losing a critical support level following news that the United States launched an attack on Iranian nuclear facilities. The unexpected geopolitical development triggered widespread panic across financial markets, with altcoins taking the hardest hit. Solana, in particular, has seen significant selling pressure, dropping 20% from its May high of approximately $185 and now trading near $148. This breakdown confirms investor concerns that SOL’s uptrend has weakened. Top analyst Carl Runefelt noted that Solana has completed a Head and Shoulders pattern—a bearish technical structure often signaling deeper downside. The price has broken below the neckline of this pattern, confirming the potential for continued declines in the short term. Adding to the bearish outlook is Solana’s inability to reclaim its prior support levels during brief bounces. With momentum indicators turning negative and broader market sentiment rattled, the likelihood of a swift recovery appears slim unless macro conditions stabilize. Solana Faces Deeper Correction As Bearish Pattern Unfolds Solana’s bullish momentum from late 2024 has all but faded, replaced by stagnation and sharp corrections as market conditions worsen. Now trading more than 50% below its all-time high, SOL continues to struggle under the weight of global macroeconomic uncertainty and rising geopolitical tensions. The US military strike on Iranian nuclear facilities has only added to the volatility, sending shockwaves through both traditional and crypto markets. While Solana was one of the strongest performers during the previous cycle, its price action has turned decisively bearish in recent weeks. Bulls have failed to maintain critical support levels, and the asset has now broken below its short-term trend structures. According to Runefelt, Solana has completed a Head and Shoulders pattern, a classic technical signal that often precedes a prolonged downtrend. The pattern’s neckline has been breached, and the projected bearish target now stands around $106.30—a level not seen since February. The breakdown also reflects broader weakness in the altcoin market. Despite earlier hopes for an altseason, capital has rotated out of risk assets, favoring Bitcoin and stablecoins amid uncertainty. Solana’s inability to reclaim prior highs or establish higher lows points to a market in retreat. Momentum indicators continue to flash red, and unless bulls reclaim lost ground quickly, SOL could be facing an extended period of consolidation or further losses. SOL Price Analysis: Breaking Below Key Support Solana is under pressure as it breaks below the critical 200-day simple moving average (SMA) around $149.54, a level that had previously acted as dynamic support. This breakdown signals growing bearish sentiment as price action confirms a loss of momentum following weeks of consolidation below the $155–$160 resistance zone. As of now, SOL is trading at approximately $135.99, down nearly 3% on the day and over 20% from its May highs. The chart shows a rejection near the 100-day SMA (green line), and the sustained move below both the 200-day and 50-day SMAs (blue line) points to a shifting structure, leaning heavily toward the downside. Volume remains elevated on red candles, confirming that the breakdown is supported by increasing sell pressure rather than a low-liquidity move. If the current trend continues, Solana could revisit the $120–$125 range, which previously served as strong support in early Q1 2025. The broader context of macroeconomic volatility and geopolitical tension, particularly the recent U.S. attack on Iran, adds to investor unease across risk assets, including altcoins like Solana. A daily close back above $149 would be needed to neutralize the short-term bearish structure and shift sentiment. Until then, downside risks dominate. Featured image from Dall-E, chart from TradingView

The Bitcoin price had a tough start to the weekend, plummeting from its $106,000 high to just above $103,000 on Friday, June 20. The flagship cryptocurrency became somewhat stable above this price zone, hovering around the $104,000 mark for most of the past day. However, the Bitcoin price faced another wave of bearish pressure in the late hours of Saturday, June 21, falling to around $101,500 as a result. Below is an analysis of the BTC price and what lies ahead for the world’s largest cryptocurrency by market capitalization. Next BTC Support Level Lies At $100,000: Analyst Popular crypto analyst with the pseudonym Titan of Crypto put forward an interesting analysis for the Bitcoin price as the market leader struggles to build any momentum. According to the online pundit, the price of BTC could be on its way to retest a crucial support area if it continues to lose its bullish impetus. Using the Bitcoin price chart on the weekly timeframe, the next significant support level lies around the $99,000 – $100,000 range. The confluence of the Fair Value Gap (FVG) and the rising Tenkan-sen (red line) around this price region makes the zone a significant area to watch if selling pressure persists. The Tenkan-sen, a key component of the Ichimoku Cloud indicator, is often considered a significant line in analyzing short-term trends. The Tenkan-sen line is often seen as a key support and resistance level, as well as a signal line for potential trend reversals. The Fair Value Gap is a liquidity void often created by a sharp movement in price, indicating a lack of trading activity within a particular price range. FVGs are usually considered as potential regions of interest for future price corrections, as investors often look to fill the liquidity void. With the FVG and the Tenkan-sen set within this same region, Titan of Crypto noted that the Bitcoin price may find a support cushion around the $100,000. This level appears to be extremely crucial for the flagship cryptocurrency in the short term, especially as its bullish momentum wanes. Meanwhile, holding above this $100,000 support could be critical to Bitcoin’s long-term trajectory. It is worth noting that the price of BTC has not traded beneath $100,000 since May 8, reaching the $110,000 mark twice within that span. Bitcoin Price At A Glance After falling to around $101,400 in the late hours of Saturday, the price of Bitcoin has now returned around $103,000. As of this writing, the price of BTC stands at around $102,845, reflecting a 0.4% decline in the past 24 hours.

Ethereum has officially broken below the long-standing range it had maintained since early May, losing the critical $2,320 support level. This breakdown was triggered by escalating geopolitical tensions, as news broke that the United States had launched attacks on Iranian nuclear facilities. The announcement sent shockwaves through global markets, sparking widespread risk-off behavior and panic selling across crypto. Ethereum, already trading near the bottom of its six-week consolidation range, quickly reacted with a sharp drop, dragging the broader altcoin market with it. The move marks a critical shift in sentiment, as Ethereum now trades outside the range that had served as a battleground between bulls and bears for over a month. With volatility spiking and confidence shaken, traders are re-evaluating risk in light of escalating conflict in the Middle East and broader macroeconomic headwinds. According to top analyst Big Cheds, Ethereum’s weekly chart is now flirting with a potential tower top pattern completion — a bearish reversal structure that may signal further downside unless buyers reclaim key levels in the coming days. As the situation evolves, all eyes will remain on ETH’s ability to hold new support levels or risk further decline in a fragile market environment. Ethereum Slides 22% From June Highs – All Eyes On Weekly Structure Ethereum has lost over 22% of its value since peaking in early June, as global instability and heightened selling pressure weigh heavily on market sentiment. The asset has now broken below its six-week range, triggering concern among investors and adding to uncertainty across the broader crypto space. With rising tensions in the Middle East—particularly following US attacks on Iranian nuclear facilities—the market has entered a risk-off environment, dragging altcoins like Ethereum into deeper retracements. Despite the volatility, Ethereum remains at the center of investor focus, as many still expect it to lead the next altseason. However, with bulls losing control of key support zones, confidence in a near-term rally continues to waver. Analysts are now split: while some predict a deeper retracement toward the $2,000 region, others argue that Ethereum is nearing exhaustion on the downside and may soon recover. Big Cheds points to Ethereum’s weekly chart, where the price is currently flirting with a potential tower top pattern—a bearish reversal structure. If this pattern confirms, ETH may face another wave of downside before finding demand at lower supply levels. If buyers step in during this pivotal moment, a recovery from this structure could quickly follow. The coming sessions will be critical in determining whether this breakdown extends or turns into a fakeout with bullish continuation. For now, traders should remain cautious, as Ethereum’s next move could define the tone of the altcoin market heading into July. Ethereum Breaks Down Below Support As Volatility Spikes Ethereum has officially broken below the $2,320 support level, signaling a shift in short-term market structure as shown in the 4-hour chart. After weeks of ranging between $2,320 and $2,650, ETH failed to reclaim its moving averages and lost bullish momentum. The price is now trading around $2,260, down sharply from its June highs near $2,900. This recent leg down follows a clean breakdown through the 50, 100, and 200-period SMAs, confirming a strong bearish momentum. Volume spikes accompanied the drop, suggesting panic selling likely triggered by geopolitical turmoil in the Middle East. The price broke down aggressively with little resistance, meaning previous demand zones have now become weak. If buyers fail to step in quickly, Ethereum may revisit earlier May support levels around $2,100 or even $2,000. From a technical standpoint, the breakdown invalidates the previous consolidation range, opening the door for a possible extended correction. Until ETH reclaims $2,320 and stabilizes above its moving averages, the risk of continued downside remains high. Market participants should watch closely for volume shifts or bullish divergences, but for now, Ethereum remains under pressure as uncertainty continues to dominate the macro environment. The next few sessions will be crucial for price discovery. Featured image from Dall-E, chart from TradingView

Pump.fun’s latest delay has rattled its backers. The Solana‐based memecoin launchpad was set to raise $1 billion at a $4 billion valuation on June 25. Now, the team says the sale will slip into mid‑July. There’s no clear reason for the hold‑up, and users are on edge. Investors who queued up months ago are left wondering if they’ll ever see a token in their wallets. Token Sale Pushed Into Mid‑July According to reports on June 20, Pump.fun first hinted at raising $1 billion at a $4 billion valuation. The sale was supposed to start on June 25. Instead, the launchpad now aims for mid‑July. That’s at least a 10‑day shift, and possibly longer. Users who planned around the June date have to sit tight again. Frustration is growing in online chat groups, where some members point fingers at the core team for poor communication. Lawsuit Accuses Platform Of Securities Violations On January 15, Burwick Law filed a class action lawsuit against Pump.fun. The complaint alleges the platform acted as an unregistered securities exchange. It also claims that Pump.fun pumped token prices to lure in retail investors. According to the complaint, many users saw their holdings plunge in value after the hype died down. Max Burwick, the firm’s founder, called the platform “a modern pyramid scheme dressed as a viral meme economy.” Trademark Claims Lead To Cease‑And‑Desist Based on reports from February, Burwick Law teamed up with Wolf Popper LLP to issue a cease‑and‑desist order. They argue that several user‑generated memecoins on Pump.fun infringe on trademark rights. That move opened another front of legal risk. Projects tied to big brands or franchises suddenly faced takedown notices. Pump.fun says it’s beefed up its legal team, but it hasn’t shared details on how it plans to settle trademark disputes. X Account Suspensions Raise Eyebrows On June 16, Pump.fun’s official X accounts were locked without warning. An X user known as Otto logged more than 30 profiles that went dark, including handles linked to GMGN and Bloom trading groups. The accounts came back online after a few days, but no one got an explanation. Some users suspect a regulator asked for the takedown. Others think it was trademark owners flexing their muscles. Either way, the episode fed more chatter about external pressure on the platform. Featured image from Pexels, chart from TradingView

XRP’s on-chain metrics are reportedly painting a foreboding picture for its price outlook, as data shows a steep 80% decline in new wallet creation over the past five months. This drop in network activity has sparked divided opinions between two expert analysts, with one casting doubts on XRP’s ability to reclaim the $3 mark, and the other rejecting such bearish predictions. XRP Price Surge To $3 Stalled In a recent X (formerly Twitter) post, crypto analyst the ‘Coin Bureau’ highlights that XRP’s momentum appears to be fading fast as new on-chain data from Glassnode reveals a staggering 80% drop in wallet creation since January 2025. This sharp decline in network activity and growth has led the analyst to claim that the XRP price is unlikely to revisit the $3 level anytime soon. At the height of XRP’s 2024 rally, both its price and user activity surged in tandem. During that time, new wallet addresses soared to nearly 30,000 per day in November, coinciding with a sharp rally that sent the token’s price surging close to $3. However, the explosive rally proved short-lived, as momentum faded and prices have since reversed. As of mid-June 2025, Glassnode chart shows that new wallet creation has fallen drastically to around 2,000-5,000 per day, while daily active addresses plunged from 577,000 to just 34,000. XRP’s price, meanwhile, has settled just above $2 and has remained largely range-bound, failing to show signs of a sustained breakout. According to Coin Bureau, this significant drop in on-chain engagement indicates that interest in XRP may have dried up, removing one of the key drivers behind its previous rally. Without new users entering the ecosystem or existing ones increasing XRP’s on-chain activity, the analyst warns that the conditions necessary for an immediate $3 price reclaim aren’t present. Analyst Debunks Bearish Forecast While Coin Bureau’s data paints a picture of declining interest and slow price growth, one crypto expert, known as Moon Lambo on X, has pushed back against the bearish narrative. He argues that XRP’s network activity actually reflects growing strength and long-term confidence. The chart presented by the analyst, covering wallet creation data from June 2024 to June 2025, shows an undeniable spike in network activity between November and early January—a surge that peaked during a period of heightened market enthusiasm following the US elections. As the post-election euphoria faded and investor sentiment cooled off, XRP’s on-chain metrics, like daily new account creations, naturally returned to lower levels. Moon Lambo indicates that this drop does not reflect weakness in the XRP ecosystem, as Coin Bureau claimed. The analyst argues that the decline in activity was a healthy correction that occurred right after an abnormal spike in activity driven by macro excitement, and not a reflection of any breakdown in XRP’s fundamentals. To further support the bullish thesis, Moon Lambo pointed out that Google Trends shows that search interest in Bitcoin has declined significantly, confirming that the lull in on-chain activity is not exclusive to just XRP but reflective of a broader market cool-off. Rather than declining interest, as Coin Bureau suggests, Moon Lambo indicates that XRP is maintaining relevance and attracting steady new engagement even during quieter market conditions. Featured image from Unsplash, chart from TradingView

Since hitting a new all-time high almost a month ago, Bitcoin has done little to assure investors of intent to explore new price territories. Amid announcement of new US trade tariffs and rising geopolitical tensions between Israel and Iran, the premier cryptocurrency has come under bearish influences to trade as low as 101,000. At press time, Bitcoin is hovering near $104,000 following a 2.03% % decline in the past day. However, popular analytics company Glassnode has highlighted a crucial price range worth monitoring especially in the advent of a further price decline. Related Reading: Bitcoin Sees Modest Gains, But Demand Weakness Limits Breakout Potential $95,500–$97,000: Bitcoin’s Line In The Sand In a recent X post, Glassnode shares an insight into the Bitcoin market based on data from Cost Basis Distribution (CBD) heatmap. The CBD is a common on-chain metric that tracks the price levels at which tokens were last purchased or sold. When a substantial amount of coins are traded within a specific price range, it forms a supply cluster capable of acting as a support or resistance level. According to Glassnode’s report, the Bitcoin’s CBD heatmap shows the first dense supply cluster below the current market price lies at $95,500 – $97,000 price zone. Interestingly, this range rests just below the short-term holders (STH) cost basis suggesting a confluence of technical and on-chain metric to present a high-stake battleground. Therefore, Glassnode analysts explain that holding the market price above this threshold reinforces bullish momentum and boosts Bitcoin chances of re-entering a price discovery mode. However, a breakdown below the $95,500 price level could trigger panic selling supporting bearish projections for the mid-term to short-term. Interestingly, prominent market analysts including anonymous X expert with username Mr. Wall Street has backed the latter scenario stating Bitcoin is due for a further price drops. Mr. Wall Street strictly warns Bitcoin would not hold above the $100,000 psychological support zone forecasting a price fall to around the $93,000 – $95,000 which Glassnode predicts should induce widescale market liquidations. Bitcoin Market Overview At the time of writing, Bitcoin is trading at $103,753 with a cumulative 1.27% decline in the past week. During this period, the flagship cryptocurrency remained largely under $106,000 barring a weak price breakout between June 16 and June 17. On a monthly scale, Bitcoin has now recorded a 6.10% loss, signaling a gradual shift in momentum with bearish forces regaining control of the market. Meanwhile, with a market cap of $2.05 trillion, the “digital gold” continues to rank as the largest cryptocurrency with a reported market dominance of 64.3%.

According to an analysis posted on X by CRYPTOWZRD, Chainlink has closed the session with a bearish tone and is now testing the key $12.50 support level. With reduced weekend liquidity expected, price action is likely to remain choppy, making it essential to closely monitor intraday volatility. A clearer setup could take time to develop, but this zone may offer early clues about the token’s next move. Oversold Pressure Builds: Is LINKBTC Ready To Rebound? In his expanded commentary, CRYPTOWZRD underscored that both the LINKUSDT and LINKBTC daily candles closed firmly bearish, mirroring Bitcoin’s broader pullback and highlighting the altcoin market’s continued sensitivity to BTC’s moves. He emphasized that this pattern underscores the need for healthier bullish candles to emerge before a sustainable recovery can take hold. CRYPTOWZRD stated that LINKBTC sits in extremely oversold territory, suggesting that a positive reversal is statistically likely. Should a bounce materialize, he expects it to ignite a sharp upside spike in LINK, effectively flipping sentiment from bearish to bullish in short order. Turning to absolute price structure, CRYPTOWZRD noted that Chainlink is currently trading right at the $12.50 daily support target, a zone he considers pivotal. A decisive bullish reversal from this level, he argues, is essential to trigger an impulsive upside move and reestablish upward momentum. If buyers can reclaim control, CRYPTOWZRD identifies $16 as the next critical resistance, followed by a more substantial barrier at $19.50. Clearing these levels would signal that the tide has truly shifted, paving the way for a broader trend change rather than a short‑lived bounce. Despite this bullish roadmap, CRYPTOWZRD cautioned that Bitcoin’s weekend price action will remain a major influence on Chainlink, especially given the expected drop in liquidity. As a result, he plans to focus on lower‑time‑frame charts in the coming sessions, seeking quick scalp opportunities while waiting for clearer confirmation of direction. Chainlink Intraday Setup Builds Around $12.85 Decision Point Assessing the immediate outlook, the analyst notes that LINK’s intraday chart remains bearish and noticeably volatile, underscoring the market’s current uncertainty. Price action has been chopping around key levels, making any clear direction difficult to trust without firm confirmation. On the bullish side, the analyst points out that a decisive breakout and sustained hold above the $12.85 intraday resistance could flip sentiment. If buyers manage to establish support above this line, the setup would present a compelling long opportunity with an initial upside target near $14.40, where the next significant resistance resides. Conversely, the analyst warns that a failed attempt to hold $12.85—marked by a retest and subsequent decline- would favor the bears. Such rejection would create potential short setups, as renewed selling pressure could drag the price lower, especially if broader market conditions stay cautious.

Crypto education and media platform Coin Bureau has shared some puzzling developments on the XRP market that may hint at a prolonged bearish future. Notably, the altcoin has been a major headliner amidst a general crypto market correction in the past one month. During this period, XRP prices have dipped by over 10% with current market prices around $2.13. While crypto enthusiasts remain hopeful of market resurgence, Coin Bureau’s recent revelations shows that on-chain data suggests otherwise. XRP $3 Target Impossible Amid Declining Network Activity – Analyst According to an X post by Coin Bureau on June 20, XRP is facing an uphill task in regaining its bullish form due to network engagement crises. Notably, data from Glassnode shows that new wallets on the XRP Ledger have crashed from above 30,000 new addresses daily in January to presently below 5,000 new addresses daily. Interestingly, the chart by Glassnode presents a strong correlation between price action and network growth. The surge in wallet creation during late Q4 2024 was accompanied by a parabolic move in price that brought XRP to trade as high as $2.71. However, as the rate of new users entering the network began to decline, XRP’s price action also entered a consolidation and gradual downward trend. Amidst other developments, Coin Bureau also highlights XRP’s daily active addresses has experienced a staggering drop from 557,000 to 34,000 to further suggest a lack of retail investor interest in the XRP ecosystem. According to the market analyst, the glaring fall in network engagement indicates XRP may lack sufficient market demand to support a bullish climb towards the $3 price region which is a crucial resistance zone. However, other analysts have presented an alternative theory. In particular, a market expert with X pseudonym MoonLambo explains the previous highs in network activity seen in Q4 2024 and January coincided with a period of widespread market greed following the US general elections. The analyst claims the decline is normal alongside social trends rather and is overemphasized by Coin Bureau. XRP Price Outlook At the time of writing, XRP continues to trade at $2.13 reflecting a 1.33% decline in the past day. Meanwhile, the asset’s daily trading volume is up by 22.29% and valued at $2.25 billion. According to data from prediction site CoinCodex, XRP Investors still remain largely bearish but the Fear & Greed Index stands neutral at 54. CoinCodex analysts are predicting XRP to remain in consolidation for the short term with predictions of $2.12 in one month. However, they forecast a steady long-term bullish revival with projections of $2.45 in three months and $3.03 in six months.

Stablecoin backing is under fresh fire after outspoken economist and gold supporter Peter Schiff took aim at tokens tied to US dollar reserves. He argues that relying on a fiat currency he views as shaky makes little sense when a more stable asset exists. His comments have reignited a long‑running debate about what should sit behind digital coins that promise a steady peg. Schiff Questions Fiat Backing According to Schiff, it makes no sense to support a token pegged to a currency that can be inflated away. “I get Bitcoin, but not US dollar stablecoins,” he wrote in a social media post. He pointed out that fiat money can be printed in large amounts, while gold has a fixed supply and centuries of use as money. Schiff said gold cannot be easily devalued by inflation or reckless monetary policies. Gold‑Backed Tokens On The Rise Based on reports, gold‑backed stablecoins are seeing more interest from investors worried about inflation and dollar weakness. Tokens like Tether Gold (XAUT) and Paxos Gold (PAXG) let users move digital claims on physical gold. These assets give the same quick transfers and high liquidity as dollar‑pegged coins but tie each token to real metal stored in vaults. Regulatory Scrutiny Intensifies Regulators across the globe are racing to establish precise regulations for stablecoin reserves. Congress members in the US are considering tighter reserve and audit requirements. Europe and Asia are creating their own regulations to achieve transparency and safeguard users. Schiff’s call for gold introduces additional context to these discussions. It could lead regulators to explore whether commodities can serve as backing for tokens under particular regimes. Market Reaction Mixed According to reports, Schiff’s tweet trended, garnering over 500,000 views within 24 hours. Crypto naysayers applauded his observation on fiat risk. Other investors cautioned that gold-backed tokens have higher fees and cumbersome custody expenses. They explained that transferring metal or establishing physical reserves introduces friction when compared with exchanging dollar-backed coins at a bank custodian. Investors also pointed out that stablecoins are widely used in lending, trading and payments within DeFi platforms. Dollar‑pegged tokens like USDC and USDT dominate these flows because they tie directly into existing banking rails. Gold‑backed coins, by contrast, tend to be held as digital bullion rather than spent on everyday transactions. Featured image Imagen, chart from TradingView

After weeks of lower highs and higher lows, XRP’s daily candlestick price chart is now giving a signal that could dictate the next major move. Although the token is still holding above key horizontal levels near $2.13, technical data suggests momentum is starting to slip. A technical analysis of XRP’s daily RSI indicator offers a clue into what comes next, and it’s not necessarily bullish in the short term. XRP RSI Breakdown: Loss Of Strength In Momentum According to an analysis posted by crypto chartist CasiTrades on the social media platform X, XRP’s Relative Strength Index (RSI) has just broken beneath a well-respected trendline that had been tracking higher lows since early April. The breakdown of this RSI structure, which is shown on the lower half of the chart below, is a strong shift in the short-term momentum dynamics for XRP. It shows that despite the XRP price holding relatively flat above the 0.5 Fibonacci level at $2.13, internal market strength has clearly weakened. The RSI had been forming a tightening wedge pattern for weeks, just like the price action’s compression at the apex of a symmetrical triangle on the daily timeframe. This type of RSI trendline break typically signals a coming volatility expansion, and as the analyst warns, the release may come with a sharp sweep to major support before XRP reverses. It’s a common occurrence for major price reversals to be preceded by a push into lower supports. In the case of XRP, crypto analyst CasiTrades highlighted some price targets to watch for reversals in case there’s a breakdown in XRP price. Support Levels At Risk: XRP Searching For Rebound Level XRP’s price action is now entering an important test phase, one that could take its price lower before rebounding for the next major rally. Analysis from CasiTrades shows a few demand zones where buyers have stepped in. These demand zones are situated at $2.01, which aligns with the 1.236 Fibonacci extension, the $1.90 price level, and $1.55, which corresponds with the 0.618 retracement level from one of the recent rallies. These levels are filled with enough liquidity, and until XRP breaks and holds above $3, these supports will always be in play. If XRP hits one of these support levels cleanly and exhibits a sharp V-shaped recovery, that would signal the market found its pivot. However, if XRP approaches these levels and stalls or bounces prematurely, that may lead to a final shakeout move, forming a deeper low before the real reversal begins. Either way, the RSI breakdown has now tilted short-term risk toward the downside, at least until price confirms a strong reclaim above $2.50 and $3. At the time of writing, XRP is trading at $2.11, down by 2% in the past 24 hours. Featured image from Picjumbo, chart from TradingView

The Bitcoin price action in June has displayed healthy swings from a low of about $100,500 to as high as $111,000. While it has lacked the impulsive momentum seen in past cycles for more bullish swings, the premier cryptocurrency has managed to maintain its valuation above $100,000. Over the past week, BTC has displayed relative price stability, with modest bullish movement at intervals. The cryptocurrency continued to trade within a tight range for most of the week, mirroring a mix of optimism and caution amongst market participants. Active Addresses Mirror 2020 Levels In a June 20 post on social media platform X, on-chain analytics firm Alphractal published its recent findings on the Bitcoin active addresses, revealing that the flagship cryptocurrency does not show an indication of market euphoria. The relevant on-chain indicator here is the Active Addresses metric, which measures the number of unique addresses that are active on the Bitcoin network within a specific timeframe. To be clear, an address is “active” if it is receiving and sending Bitcoin during a particular period. The chart shared by Alphractal shows that active addresses are at the same level as in 2020. The analytics firm pointed out that as of 2020, the market was facing political uncertainty, dealing with a global pandemic, and widespread social fear, as the effects on market engagement are what is currently being witnessed. In the post on X, Alphractal highlighted two possible reasons for this seeming lack of enthusiasm seen in investors. Firstly, the market intelligence firm noted that investors might have become disillusioned with all that is currently happening in the crypto market, regardless of Bitcoin’s value comfortably being above $100,000. On the other hand, Alphractal put forward the possibility that this relative inactivity could be a result of a strong long-term conviction in the flagship cryptocurrency as a store of value. However, this second reasoning was immediately put down by Alphractal as readings from two other indicators — the on-chain volume and spot volume — are both low, indicating little global interest in the cryptocurrency. As Bitcoin still prevails above $100,000, this could be a strong indication, Alphractal explained, “that only the most resilient are taking advantage of the long-awaited $100k per BTC.” Bitcoin Price At A Glance As of this writing, Bitcoin is valued at about $103,290, reflecting an over 1% price decline in the past 24 hours. According to data from CoinGecko, the price of BTC has fallen by about 2.4% in value over the past seven days.

Elon Musk is reportedly planning to launch a decentralized exchange (DEX) on X (formerly Twitter). Crypto researcher Atlas took to X to break the news, pointing out that this move could result in the introduction of hundreds of millions of users to crypto. Keep reading to learn more about Musk’s DEX plans, what it means for crypto, and how investing in the best altcoins could help you make the most of it. Musk’s Boldest Finance Move Yet A native DEX on Twitter will transform the platform into an ‘everything app,’ which Elon Musk has gone on record to say was his goal. Another reason to believe that we could soon see X turning into a full-blown financial ecosystem is Linda Yaccarino, CEO of X, who recently confirmed that in-app tipping, payments, and investing are already in the pipeline. For X users, this could mean enhanced financial privacy, total control over their funds, and lower transaction fees, as well as the ability to trade stablecoins, $BTC, $ETH, and other tokenized assets directly from within the X app. Although Musk hasn’t officially confirmed the decentralized exchange, users have spotted a GitHub code snippet on X that suggests a DEX is already in the works. What This Means for Crypto & Altcoins? Integrating a DEX into X (a platform with 650M active monthly users) will crank up crypto’s visibility and mainstream adoption. It will eliminate the need to maintain third-party crypto apps and wallets, making it easier for the average person to interact with crypto. As folks get comfortable with the idea of dealing in altcoins, they’d naturally understand the potential of investing in these tokens. This will further drive up their popularity and trading volume. Also, let’s not forget Musk’s crypto effect. Just a couple of weeks back, he uploaded a clip from a video game where his character was named Kekius Maximus. As a result, $KEKIUS tokens soared almost instantly. So, if Musk’s DEX supports or even mentions specific tokens, those could very easily emerge as the top trending cryptos. With that in mind, here are the best cryptos to buy now to benefit from the hype around a revolutionary X DEX. 1. Snorter Token ($SNORT) – Best Altcoin to Buy Now, A New Feature-Packed Trading Bot Snorter Token ($SNORT) could be the next crypto to explode thanks to its one-of-a-kind Telegram trading bot that comes with advanced tools, tight security, and a top-notch user experience. Snorter’s biggest selling point is its ability to swipe liquidity in new meme coins. In our experience, doing so manually, i.e., without Snorter Bot, would be nearly impossible because institutional crypto investors eat up all the liquidity in new tokens using advanced tools. By allowing you to buy meme cryptos as soon as they’re listed, Snorter gives you the opportunity to make huge gains that are generally associated with price jumps in freshly listed altcoins. Additionally, $SNORT token holders will benefit from reduced trading fees: just 0.85%, which is noticeably lower than the industry standard of 1%. Snorter Bot is a force to reckon with in terms of security, too. From routing your swaps through a private Solana RPC infrastructure to using MEV-resistant relays and other techniques to protect you against sandwich attacks, honeypots, and scams, it’s a complete package. Buy Snorter Token now for just $0.0961 each. The project is currently in presale, and it has raised over $1.16M. 2. Best Wallet Token ($BEST) – Top New Altcoin Powering the Best Wallet Ecosystem Speaking of crypto apps that could revolutionize the DeFi space, Best Wallet is a free crypto wallet offering a secure and seamless user experience, as well as the ability to buy new meme coins on presale directly from within the app. Powered by the Best Wallet Token ($BEST), Best Wallet is self-custodial. This simply means that it doesn’t belong to any company or crypto exchange, so no one has access to your crypto except you. Other security measures include advanced cryptographic techniques (Fireblock’s MPC-CMP wallet technology) and two-factor authentication/biometrics for app login. Best Wallet aims to capture 40% of the non-custodial crypto wallet market, which is expected to grow at a CAGR of 8% and reach a valuation of $1.5B in the next few years, by 2026. You can make the most of Best Wallet’s growth trajectory by buying $BEST, the token that powers its ecosystem. It’s currently available for just $0.025215, with the presale having raised over $13.4M so far. 3. XRP ($XRP) – Big-Name Crypto Teasing a Breakout XRP, the fourth biggest crypto in terms of market capitalization, has been in a massive consolidation zone for the past few months. Expert traders (such as Crypto Beast on X) believe that a breakout of this zone could see the token explode 300% and reach $8. $XRP is currently trading around $2.11. A huge reason for this bullish bias is the recent approval of a spot XRP ETF by Canada’s Ontario Securities Commission (OSC). It will soon be launched on the Toronto Stock Exchange (TSX). Also, approximately 2,700 whales now hold more than 1M $XRP, which is the highest ever. And XRP’s active addresses have also increased to 295K per day, as compared to 35K-40K in the previous few months. Bottom Line With Elon Musk planning to blur the lines between finance and communication by building a decentralized exchange (DEX) on X, we could see an unprecedented number of users entering Web3 and decentralized finance. Naturally, this could result in a spike in interest in high-potential tokens like Snorter Token ($SNORT) and Best Wallet Token ($BEST), which could lead the next altcoin rally. That said, bear in mind that crypto investments are risky because of the market’s volatility and uncertainty. This article isn’t financial advice, and you must always do your own research before investing.

Based on reports from analyst Moustache, Bitcoin may be gearing up for its next big move. The world’s largest cryptocurrency climbed above $105,000 for the second time this week. At press time, it was trading at nearly $104,000, up 0.50% over the past 24 hours. Historical RSI Breakouts Could Signal New Push According to the charts shared by Moustache, Bitcoin’s monthly Relative Strength Index (RSI) tends to surge into overbought territory just before major rallies. Back in July 2013, Bitcoin sat at $66, then jumped to nearly $1,120 by November as the RSI hit high levels. A similar spike happened in May 2017, when BTC rose from about $1,300 to $19,700 by December. On April 1, 2021, Bitcoin reached $64,800 while the RSI again climbed beyond its usual range. In 2024, those RSI peaks came on March 1 at $73,800 and again in November when it cleared $100,000. Whales Stack Up Bitcoin While Retail Pulls Back Based on reports from on‑chain data provider Santiment, large holders are scooping up coins even as smaller investors step aside. Over the last 10 days, wallets with at least 10 BTC rose by 231 addresses. At the same time, retail wallets holding between 0.001 and 10 BTC fell by 37,460 addresses. That shift suggests big players are using recent dips as a buying chance. In past cycles, similar moves by whales have come before sustained price gains. Overbought But Not Out Analysts warn that an overbought RSI doesn’t always mean an instant surge. In past runs, Bitcoin often paused or pulled back for days or even weeks before the real rally got underway. Sometimes the RSI stayed elevated while prices drifted sideways. In 2017, for example, a correction followed the high RSI but the broader uptrend kept going. Today’s RSI is near those same levels—and could linger there for a while. What Comes Next For Bitcoin Investors will be looking beyond technical cues. Macro events, ETF moves and regulatory announcements may guide the next direction. If institutions continue to accumulate and retail continues to avoid, price pressure will develop. But a surprise headline or policy change might go the other direction. For now, the intersection of high RSI and increasing whale demand suggests a setup that has fueled previous bull frenzies. Featured image from Unsplash, chart from TradingView

The Bitcoin price crashed from as high as $106,000 to $102,000 on June 20, sparking sell-offs among investors. Now, crypto analyst Colin has indicated that the flagship crypto could still drop to as low as $92,800 and revealed what will happen if BTC gets there. The Current Bitcoin Price Action And What To Expect In an X post, Colin said that it looks increasingly likely that the Bitcoin price will see a retest of at least 100,800 as the first major level of support. The analyst made this statement as BTC dropped out of a bullish pennant for a second time. The measured target for this bull pennant is $150,000. However, with the most recent breakdown, the Bitcoin price threatens to decline further before any potential move to the upside. Colin stated that the next major levels below $100,800 are $97,600 and $92,800. He opined that BTC is likely to quickly rebound from these support levels if it gets there. The crypto analyst remarked that this Bitcoin price movement is all possible within the confines of the right shoulder of the larger inverse Head-and-Shoulders pattern. He added that this can make the right shoulder more complete, basically on the same level as the left shoulder. This analysis comes just a day after Colin revealed that BTC has deviated from the global M2 money supply. However, he suggested that the BTC bull market is far from over. The analyst noted that the deviation happens 20% of the time and doesn’t invalidate the macro trend. Basically, the Bitcoin price is primed to rally higher at some point and possibly reach the $150,000 measured target. Market expert Raoul Pal also commented on BTC’s correlation with the money supply, stating that it shows that there is no need to worry about the current price action. Bulls Need To Step In For BTC In an X post, crypto analyst Titan of Crypto stated that the Bulls need to step in now for the Bitcoin price. He noted that BTC is facing a key test, having just been rejected at the Fair Value Gap at around $106,000. The analyst added that the flagship crypto is now retesting the lower boundary of the symmetrical triangle. Titan of Crypto stated that if this lower boundary at around $104,000 fails, then the next level would be the previous weekly low at $102,679. If the Bitcoin price fails to hold that level, it could further drop to the liquidity pocket near $100,300. At the time of writing, the Bitcoin price is trading at around $103,500, down in the last 24 hours, according to data from CoinMarketCap.

Ethereum is once again trading at critical demand levels, testing the lower boundary of a six-week range that began forming in early May. After briefly climbing toward $2,800 earlier this month, ETH has retraced back to the $2,400 zone, reigniting debate about whether this is a healthy consolidation or a sign of further downside to come. Despite the pressure, Ethereum has not broken below this range, signaling that buyers continue to step in at these levels. This extended consolidation period suggests a decisive move is nearing. Breakouts from tight ranges like this one often lead to strong directional momentum, and ETH’s current price structure could act as a launchpad—if bulls regain control. According to top analyst M-log1, Ethereum may have already bottomed during its most recent retrace, with the current action reflecting accumulation rather than weakness. The ETH/BTC ratio, another critical chart watched by traders, is also hovering near support levels, implying that a rotation back into altcoins may be imminent if Ethereum holds or pushes higher. For now, the market watches closely, as ETH’s next move could set the tone for broader altcoin performance in the weeks ahead. Ethereum Holds Range As Market Awaits Decisive Break Ethereum continues to trade within a tight consolidation range that began in early May, showing resilience despite growing global tensions and macroeconomic uncertainty. The price has hovered between $2,360 and $2,700, forming a narrow channel as buyers and sellers remain locked in a standoff. With conflicts in the Middle East intensifying and financial markets reacting to high interest rates and rising Treasury yields, crypto assets are under pressure, and Ethereum is no exception. The long-anticipated altseason has yet to materialize, and Ethereum is widely seen as the key to unlocking that next phase. ETH’s dominance in the smart contract and DeFi space gives it a central role in leading altcoin market momentum. Traders and analysts are closely monitoring its current range, especially after M-log1 shared analysis suggesting the recent low at $2,360 could mark a local bottom. According to M-log1, Ethereum is now consolidating just below the $2,450 level, and this zone could serve as a bullish trigger if reclaimed with strength. A decisive move in either direction will likely set the tone for the broader crypto market, with a breakout above $2,500 potentially igniting the next leg upward. Until then, market participants are watching closely. If ETH fails to hold these demand levels, the range could break to the downside, delaying any altseason rally further. But if bulls regain control and push above key resistance, it could signal the start of a much-anticipated upward move. In this environment of uncertainty, Ethereum’s next breakout-or breakdown—could prove pivotal for market sentiment heading into the second half of the year. ETH Tests Key Support As Price Retraces Ethereum is currently trading at $2,405, down 4.17% in the last session, after testing a low of $2,367. The chart reveals that ETH has retraced back to the lower boundary of a six-week range, confirming strong demand in the $2,360–$2,400 area. This zone has acted as a critical support level multiple times, with bulls stepping in each time to defend it. The price remains trapped below the 200-day moving average ($2,774), which has proven to be a strong resistance. Meanwhile, both the 50-day and 100-day moving averages are trending below price, currently sitting at $2,287 and $2,640, respectively, tightening the range even more. This compression typically leads to high volatility once a breakout occurs. Volume has remained elevated during recent sessions, suggesting that buyers and sellers are actively competing for control. A decisive close below $2,360 could trigger a cascade toward $2,100 or lower. Conversely, if bulls manage to reclaim $2,500 and sustain momentum toward the $2,700–$2,800 resistance band, it may set the stage for a breakout. Featured image from Dall-E, chart from TradingView

Week Ahead 23-27th June 2025 – Highlights include: Global PMIs; inflation data from the US, Canada, Australia; BoJ Summary of Opinions Newsquawk Highlights for the Week Ahead 23-27th June 2025 MON: EZ/UK/US Flash PMIs (Jun). TUE: NBH Announcement, German Ifo (Jun), Canadian CPI (May), US Richmond Fed (Jun). WED: BoJ Summary of Opinions, CNB Announcement, PBoC MLF, Australian CPI (May). THU: Banxico Announcement, German GfK Consumer Sentiment (Jul), US Durable Goods (May), US GDP Final (Q1), US PCE Final (Q1). FRI: Japanese Tokyo CPI (Jun), UK GDP (Q1), French/Spanish Prelim CPI (Jun), EZ Sentiment Survey (Jun), US PCE (May) EZ PMIs (MON): Expectations are for a modest uptick across the board, taking Manufacturing to 49.7 (prev. 49.4), Services to the 50 neutral mark (prev. 49.7) and Composite further into expansionary territory at 50.5 (prev. 50.2). As a reminder, the prior release saw an improvement in the manufacturing sector and a deterioration in services with both metrics still in contractionary territory. The accompanying release noted “the eurozone economy just cannot seem to find its footing”. Recent indicators have seen an improvement in the EZ-wide ZEW survey for June, rising from 11.6 to 35.3, with the German economic sentiment metric exceeding expectations, increasing from 25.2 to 47.5. Accompanying commentary from ZEW noted “recent growth in investment and consumer demand have been contributing factors. This development also seems to strengthen the assessment that the fiscal policy measures announced by the new German government can provide a boost to the economy”. Elsewhere, the EZ Sentix index saw an improvement in June, rising to 0.2 from -8.1; its first positive reading since June 2024. On the data, UBS writes that the series is expected to support the EUR. From a policy perspective, given the cautious stance at the June meeting over potential further easing, markets assign just a 10% chance of a rate cut next month. As such, the release is unlikely to have any material impact on the near-term rate path. Of greater importance will be the outcome of US and EU trade talks with the 90-day tariff pause due to expire on July 8th. UK PMIs (MON): Newswire consensus not available at the time of publication. As a reminder, the prior release saw the May services metric rise to 50.9 from 49.0, manufacturing tick higher to 46.4 from 45.4, leaving the composite at 50.3 (prev. 48.5). The accompanying release noted “despite weaker order books and cutbacks to staff hiring, latest data indicated a rebound in business optimism to its highest for six months”. From a policy perspective, there is still a raft of data between now and the August meeting, which is currently priced at around 60% for a rate cut. However, a soft print (which would follow recent weak GDP and labour market metrics), could cement calls for a reduction in August and see pricing by year-end move in a more dovish direction. Try Newsquawk free for 7 days CANADA CPI (TUE): The inflation data will be framed in the context of future BoC easing expectations. The central bank’s recent meeting minutes noted that persistent underlying inflationary pressures from global trade realignment and potential pass-through of input costs, via direct tariff impacts, were unclear. They observed rising short-term inflation expectations and agreed to monitor CPI components closely, and said that further rate cuts may be warranted if tariff-related uncertainty spreads but inflationary cost pressures remain contained. That sentiment was echoed by Governor Macklem; speaking ahead of the CPI release, Macklem said that cutting interest rates would be more difficult if underlying inflation persists. He stated that until a trade deal has been reached, inflation in Canada would be impacted by both tariffs from the US, as well as Canada’s counter-tariffs, adding that a rate reduction could be required if the effects of tariffs continued to spread through the economy, and cost pressures on inflation were contained. BOJ SUMMARY OF OPINIONS (WED): The BoJ will release the Summary of Opinions from its June meeting next week, where it unsurprisingly maintained its short-term interest rate at 0.50% but announced it will slow the pace of tapering its JGB purchases. The decision on the taper plan was made by an 8-1 vote, with board member Tamura dissenting. Tamura argued that the BoJ should stick to the faster pace of tapering (JPY 400bln reductions per quarter through to March 2027), saying the bank should allow longterm interest rates to be determined more by market forces. At the post-meeting presser, BoJ Governor Ueda noted that while it is desirable to allow yields to move more freely, cutting purchases too quickly “could have an unexpected impact on market stability”. AUSTRALIAN CPI (WED): There are currently no expectations for the Australian Monthly CPI for May. In terms of the prior monthʼs metric, headline CPI held steady at 2.4% Y/Y in April, marking the third consecutive month at this level and remaining within the RBAʼs 2-3% target range. The largest contributors to annual inflation were food (+3.1%), housing (+2.2%), and recreation/culture (+3.6%). The ABS highlighted that egg prices surged 18.6% Y/Y due to supply disruptions from bird flu, while housing costs were driven by higher rents (+5%) and offset by a 6.5% drop in electricity prices amid government rebates. Transport costs eased (- 3.2%), reflecting a 12% fall in automotive fuel prices. TOKYO CPI (FRI): There is currently no consensus for the upcoming Tokyo CPI release, which is typically seen as a leading indicator for the National CPI due later. As such, the data will be closely watched as a key signal for national price trends and potential implications for BoJ policy. At the BoJʼs June meeting, the central bank noted that CPI (ex-fresh food) has been running at around 3.5% Y/Y, supported by the pass-through of wage hikes, past import price rises, and higher food prices such as rice. However, the BoJ expects these upward pressures to fade over time. It flagged that underlying inflation is likely to be sluggish in the near term as economic growth slows, though underlying CPI is projected to gradually rise later, supported by a tighter labour market and firmer medium- to long-term inflation expectations. The BoJ also reiterated that various risks remain, particularly linked to the uncertain evolution of global trade and policy developments, which could affect both activity and prices. US PCE (FRI): Both the May CPI and PPI reports came in beneath market expectations; headline CPI rose by 0.1% M/M (0.081% unrounded) against expectations of +0.2%, while core CPI rose by 0.1% M/M (0.13% unrounded) vs an expectation of 0.3%. PPI rose by 0.1% M/M in May (unrounded 0.127%) against an expected +0.2%, while the core rate of PPI rose at 0.1% M/M against an expected 0.3%. Following the CPI and PPI reports, the WSJ Fedwatcher Nick Timiroas said that economists who use the CPI and PPI data to model what the PCE data will look like expect a third consecutive cool monthly core inflation reading in May, forecasting core PCE growth of +0.13% M/M in May, while the headline reading is expected to rise +0.10% (prev. 0.1%); he added that since the May 2024 figure was lower than that, it would lift annual core CPI to 2.6% Y/Y (from 2.5% in April), and the annual headline rate would rise to 2.3% Y/Y from 2.1%. 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 Global Traders Association – GTA – FREE Membership – Click HERE

After another strong play for its all-time high in the past week, the price of Bitcoin has struggled to build on its recent bullish momentum. Over the last few days, the premier cryptocurrency has been specifically slow and lethargic. On Friday, June 20, the Bitcoin price took a severe hit — together with the rest of the crypto market — and fell briefly beneath the $103,000 mark. However, the latest market data suggests that the price of BTC might enjoy some stability after the recent round of long liquidations. BTC Gearing For A Run Of ‘Healthier Price Action’: Analyst In a Quicktake post on the CryptoQuant platform, on-chain analyst Amr Taha explained the dynamics between the Bitcoin price and its recent long liquidation event. According to the online pundit, the market leader could be preparing for more stable price action over the next few weeks. Taha revealed that the critical $103,000 liquidation cluster, which held a large volume of overleveraged long positions on Binance, has been cleared off. This cascade of long liquidations came after the price of Bitcoin plunged toward the $102,500 level on Friday evening. According to data from CryptoQuant, the price decline caused the long liquidations on Binance, the world’s largest exchange by trading volume, to exceed $160 million. The on-chain analyst noted that this long liquidation event also coincided with a major change in the Bitcoin Net Taker Volume on the cryptocurrency exchange. Taha highlighted that the Net Taker Volume has moved deep into the negative territory, falling to nearly -$100 million in the past day. As observed in the chart below, this latest plunge marks the third time the Net taker Volume has fallen to this level in the month of June. According to Taha, the change in this metric suggests that aggressive selling outweighed buying activity during the liquidation event. The on-chain analyst outlines two possible reasons for this trend, including that long positions were forced to close, pushing sell orders into the market as the Bitcoin price fell below $103,000. Taha added that some sections of Bitcoin retail traders might have pushed the panic button and filled new sell orders in fear of further losses. In the end, the crypto analyst concluded that the combination of long liquidations and extremely negative Net Taker Volume might not be completely bad for the flagship cryptocurrency. Taha said: While such events often feel devastating in the moment, they lay the groundwork for healthier price action. Given these dynamics, the path of least resistance may now shift upward as Bitcoin stabilizes above key support levels with reduced leverage overhead. Bitcoin Price At A Glance As of this writing, the price of BTC stands at around $103,450, reflecting an over 1% decline in the past 24 hours.

The Israel-Iran war continues, but outside of oil, the capital markets have barely reacted. WTI rose by about 2.7% last week after a 13% rally the previous week. It reached levels not seen since early January. The average retail price of unleaded gasoline has risen by almost 2.5% this month. The price of gold fell by nearly 2% last week, its first weekly decline in three. The dollar rose against all of the G10 currencies. The US tariff threats, with postponement of the so-called reciprocal tariffs coming to an end on July 9, continue to cast a long shadow. The last-minute scramble for deals has begun. The recent doubling of the US steel and aluminum tariffs to 50% seem to make things more complicated. Meanwhile, US real sector data continues to surprise on the downside, and that includes last week's reports on May retail sales, industrial production, and housing starts. Still, the FOMC indicated it is no hurry to change policy, and despite Governor Waller, who is thought to be one of the candidates to succeed Chair Powell, suggesting before the weekend that a July cut is possible, the market does not believe it. September is a different story and Fed funds futures are discounting around a 80% chance of a cut then. With the Russia's war in Ukraine continuing and the new phase in the Middle East war, NATO has much to consider when it meets at the start of the new week. President Trump has said he will decide about increasing the US role against Iran in the next two weeks, by which time, Israel's operation will be over or nearly so. Some reports (e.g., Guardian) that Trump is not yet convinced that the "bunker buster" bomb would be sufficient to eliminate the Fordow enrichment site even if it could inflict damage. The penetration depth is estimated to about 200 feet (61 meters) and the Israeli intelligence estimates the facility may be as much as 300 feet below the surface. Meanwhile, the economic diaries are fairly light in the week ahead. The flash PMI starts the new week. US CPI and PPI have stolen the thunder from the PCE deflators. Tokyo's June CPI is expected to moderate slightly. Mexico's central bank is expected to deliver another 50 bp cut, but with inflation above the target band, a quarter point cut may be a compromise. US Drivers: Before the President Trump's inauguration in January, the conventional wisdom was that the dollar would strengthen on rising US tariffs. That has not proven to be the case, and what is more, the greenback appears to weaken when tariff threats are elevated. The end of the postponement of the so-called reciprocal tariffs is early July, and ahead of it, Trump has said he would send letters to countries, announcing the new bilateral tariffs. Separately, it seems as if higher rates did not help the dollar, but lower rates weigh on it. The new phase in the Israel-Iran war can become more impact for the dollar if the US takes a more direct role or if the war widens. The cost of insurance may be slowing activity in the Gulf of Hormuz more than Iranian forces. Data: Given Fed officials’ recent comments, the market has little reason to react much to the survey data in the coming days, which include the preliminary PMI, several regional Fed surveys, and the Conference Board's measure of consumer confidence. Given the tariffs, the May goods trade balance will be of interest. Weekly jobless claims will also draw attention given the recent rise in the four-week moving average to the highest since August 2023 and the elevated continuing claims. Meanwhile a surge of orders for Boeing (303) in May will lift durable goods orders after a sharp 6.3% decline in April. The 1.5% decline in April orders excluding aircraft and defense was the largest drop since February 2023. Lastly, personal income and consumption data will help fine-tune Q2 GDP forecasts, which the Atlanta Fed says is tracking 3.4% and the median projection by economists in Bloomberg's survey is 1.4%. Details for the CPI and PPI suggest the PCE deflator will tick up to 2.3% from 2.1% at the headline level and 2.6% from 2.5% at the core level. Prices: The Dollar Index consolidated last week at somewhat firmer levels. It traded above the down trendline from the May 12 high (~102.00) and the late May high (~100.50) and June 18 high (~99.00) and settled above it last week. The trendline begins the new week near 98.65. The momentum indicators suggest a consolidative/corrective phase may be at hand. The five-day moving average looks poised to cross above the 20-day moving average in the coming days. The initial target may be in the 100.00-50 area. EMU Drivers: The euro benefits from being the un-cola to the dollar's Coca-Cola. It is the most liquid alternative to the greenback. With encouragement from ECB officials, the market believes the central bank's easing cycle is nearly over. After a pause in the coming months, the swaps market is pricing in one more cut before the end of the year, which would bring the deposit rate to 1.75%. That has been identified to be around the neutral rate (r*). Data: The markets may be more sensitive to the eurozone's PMI than the US because officials seem to give it more weight. The composite PMI slipped in April and May, reinforcing the sense that the best EMU growth may be behind us. May auto registrations, a proxy for sales are due. April showed the first increase year-over-year here in 2025. They rose 1.3%. Germany's June IFO is due. The assessment of the overall business climate (current conditions and expectations) has risen every month this year, already surpassing 2024, when there was improvement in four months. Prices: The euro pulled back from $1.1630 reached on June 12, the highest level since October 2021. It recorded a low, a week later, near $1.1445, and found support slightly ahead of the 20-day moving average, which it has not traded below since the end of May. Nearby resistance is seen in the $1.1550-60 area and the euro stalled in front of it ahead of the weekend. A consolidative/corrective phase can continue if the resistance holds. On the downside, a break of $1.1440 could see $1.1380 initially. PRC Drivers: China maintains a firm hand managing the yuan. The yuan does not appear particularly sensitive to high frequency data or news developments. Beijing is committed to maintaining the broad stability of the yuan against the dollar. It has introduced a modicum of more flexibility in the slightly greater change in the daily fix. China's economy is struggling to sustain the momentum necessary to achieve its growth target and deflation continues to grip. In such a macro setting, a stronger yuan, simply because of the dollar's decline, may not be helpful. Data: China reports industrial profits. There was a press article recently about the percentage of Chinese companies that are recording losses, but it is a dog-bites-man story. Chinese numbers only appear high if an international context is not provided. Moreover, contrary to conventional wisdom, companies in market economies do not all compete to maximize profit. Some compete for market share. In comparative economic literature (see Varieties of Capitalism), the former was associated with countries in which markets were the main channel of capital distribution (stock and bond markets). The latter were associated with bank-led capitalism and was dubbed the "Rhine model" by the authors. Prices: The PBOC has been steadily lowering the dollar's fix in recent weeks. Given that the greenback is allowed to trade only 2% above the reference rate, the decline in the fix lowers the dollar's cap. Before the weekend, the fix was set at its lowest level in three months (CNY7.1695). The setting of the daily reference rate is among the most powerful tools at Chinese official disposal to manage the exchange rate. Since earlier this month, the greenback has been consolidating between roughly CNH7.1650 and CNH7.2000. Japan Drivers: The yen's sensitivity to US interest rates has increased over the last few weeks. The rolling 30-day correlation of changes in the exchange rate and the US 10-yer yield has risen to 0.48 from slightly below 0.10 a month ago. The Israel-Iran conflict did not spur a safe haven rally in the yen. One explanation is that many viewed it primarily through the prism of an oil shock. Japan has the highest inflation in the G10, but the central bank is clearly reluctant to hike rates. Its bond and equity markets are the worst performing in the G7 so far this year. Data: Japan sees the latest employment figures and retail sales, but arguably the most important report is the Tokyo's June CPI. It leads the national figure by several weeks and is fairly good predictor. Bank of Japan Governor Ueda rhetoric has been toned down. To be sure, he still maintains that if the economy evolves as the central bank expects, it will continue to raise rates. However, he also argues that the inflation target has not been achieved. The swaps market sees the year-end target rate at almost 0.60%, down about 25 bp since late March. Prices: The dollar posted its biggest weekly advance of the year against the yen, almost 1.40%. It set the high for the month before the weekend, slightly above of JPY146.20. A move above the JPY146.30 area could spur a move toward JPY147.00-15 next. The momentum indicators are constructive. Initial support may be around JPY144.35, though the pre-weekend session was the first since May 14 that the dollar did not trade below JPY145. UK Drivers: Sterling's 7.6% gain this year against the dollar largely reflects the greenback's weakness rather than strong UK attractors. The swaps market has turned less dovish. The year-end base rate is anticipated to be near 3.75%, up from around 3.50% at the end of April. The swaps market sees the year-end effective average Fed funds rate near 3.75%, up around 50 bp since the end of April. Still, sterling has risen by around 1.8% in the same period. Data: The UK takes another look at Q1 GDP, when its 0.7% quarterly expansion put it atop the G7. Growth is off to a poor start in Q2, with the April GDP contracting by 0.3%, the largest monthly decline in output since October 2023, and May retail sales, reported before the weekend, fell 2.7% (the median forecast in Bloomberg's survey was for a 0.5% decline), more than offsetting the 1.3% increase in April. The April composite PMI was 48.5, which matched the lowest since November 2022. It recovered to 50.3 in May. The preliminary June reading will be released this week. Prices: Given the downside surprises of the UK data, and the dovish hold by the Bank of England (6-3 vote), sterling held up fairly well. Its 1.1% loss on June 17 after the GDP miss was the largest loss in a little more than two months. It made a marginal new low before the outcome of the BOE meeting on June 19 near $1.3380 and recovered to trade above $1.3500 before the weekend, where it met sellers who knocked it back to around $1.3440 to record new session lows in late dealings. A break of $1.3380 could see another half-cent decline in short order. The five-day moving average slipped below the 20-day moving average for the first time since May 19. Initial resistance is seen in the $1.3480 area. Canada Drivers: Sometimes, the Canadian dollar seems sensitive to the risk-climate and sells off alongside US S&P 500. Sometimes, the Canadian dollar seems sensitive to interest rate developments. Now the Canadian dollar seems most sensitive to the US dollar's broad direction. The 30-day correlation between changes in the exchange rate and the Dollar Index is slightly above 0.70. It has rarely been higher in the last several years. To put it in some context, consider that in February, the rolling 30-day correlation was below 0.20, the lowest since the end of 2021. Data: Canada reports May CPI. Recall that in April, the headline rate fell to 1.7% from 2.3%, but the rise in the underlying core rates was cited by the Bank of Canada in its decision to standpat. Given this reaction function, the market will also put emphasis on the core readings. Canada also sees April GDP. The economy expanded by 2.2% at an annualized rate in Q1, but economists warn of a contraction in the second quarter (-1%), so a poor April GDP print would not be surprising. February GDP fell by 0.2% before a 0.1% expansion in March. Still, the Bank of Canada has indicated that its easing cycle is nearly over, and the swaps market has one more cut discounted at the end of the year. Prices: The US dollar fell to its lowest level since last October (~CAD1.3540) at the start of last week before recovering. It made a marginal new high for the month before the weekend, slightly below CAD1.3750. The greenback finished the week above its 20-day moving average (~CAD1.3700) for first time since May 20. The five-day moving average looks set to cross above the 20-day moving average in the coming days. Near-term potential extends toward CAD1.3780-CAD1.3800. Above there, the CAD1.3835-60 area beckons. Australia Drivers: The Australian dollar rivals the Canadian dollar with the dubious honor of being the weakest performer in the G10 this year. The Australian dollar has risen by about 4.35% while the Canadian dollar has appreciated by about 4.80%. The Australian and New Zealand dollars were the heaviest of the G10 currencies when Israel first struck Iran on June 13. The rolling 30-day correlation between changes in the Australian dollar and the Dollar Index is near 0.75, the upper end of where it has been since the middle of last year. The 30-day correlation with the Canadian dollar is near 0.60. The 30-day correlation with gold has slipped below 0.40, its weakest since early April. Data: Australia sees the preliminary PMI, but the market does not seem to place much importance in it. The May CPI in the middle of the week will likely draw more attention. It has been steady at 2.4% for the previous three months. The central bank still appears to put more weight on the quarterly reading. Barring a significant surprise, the Reserve Bank of Australia is seen cutting rates again when it meets early next month. The futures market has about an 80% chance of a cut discounted, and almost two more before the end of the year, which means it is seen as among the most aggressive G10 central banks after a belated start. Prices: Disappointing May employment data, the second overall monthly job loss of the year, and an unexpected decline in the participation rate saw the Australian dollar sold to a two-and-a-half-week low near $0.6445 on June 19. It steadied, though stalled near $0.6500 before the weekend and returned to lows. The momentum indicators are softening, and the five-day moving average looks poised to push below the 20-day in the first part of the new week. On balance, the takeaway is the corrective/consolidative phase does not appear over, and the low for may not be in place. Support may be in the $0.6400-$0.6425 band. Mexico Drivers: The peso is up an impressive 9.4% against the US dollar this year. This has outstripped the MSCI Emerging Market Currency Index (~6.0%) and the JP Morgan Emerging Market Currency Index (~7.2%). It has also outperformed half of the G10 currencies. This is particularly impressive given the less-than-friendly US policies that seem to undermine Mexico's developmental strategy, which includes investment by foreign companies (including and especially US companies), remittances from Mexican workers employed in the US, and tariffs on steel and aluminum, despite the USMCA, which was negotiated in President Trump's first term. Moreover, Mexico's policies are not seen as particularly investor-friendly, and the popular election of all judges was seen by many as politicization of the judiciary. Still, the peso benefits from being the long leg of carry trades against the dollar, its low volatility and liquidity. Still, the price action shows that risk-off in the extreme, like when Israel struck Iran, the peso is sold, partly, perhaps, in its own right, and partly as a liquid proxy for other emerging market currencies. Data: Before getting to the highlight of the week, the central bank meeting on Thursday, June 26, Mexico report April retail sales and IGAE economic activity report, the first half of June CPI, and May trade figures. Despite the slugging economy, Mexican retail sales rose by an average of 0.5% a month in Q1 25 after falling by an average of 0.6% a month in Q1 24. The IGAE is like a monthly GDP estimate. It finished Q1 on a weak note, with a 0.36, decline. Price pressures have been edging higher, and both the headline and core rates likely remained over 4%, the upper end of the target range. Mexico has recorded a trade surplus of about $1.26 bln in the first four months of the year compared with a $6.45 bln deficit in the Jan-Apr 2024 period. There have been conflicting signals from Banxico's leadership about this outlook for this week's meeting. A compromise would be a quarter-point cut that would bring the target rate to 8.25%, but economists favor a 50 bp move. Prices: The dollar made a marginal new low against the Mexican peso to start the week near MXN18.8250. It trended higher from there and reached almost MXN19.19 before the weekend. It posted its highest settlement since the end of May. The 20-day moving average is near MXN19.13 and the dollar settled above for the first time this month. Momentum indicators are moving higher. The greenback could test 19.25 area and a push above there could signal a re-test of the month's high, near MXN19.45. Disclaimer