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Ethereum price started a fresh increase above the $2,750 zone. ETH is now correcting gains and might test the $2,680 support zone. Ethereum started a fresh increase above the $2,800 level. The price is trading above $2,750 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line forming with support at $2,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $2,680 support in the near term. Ethereum Price Corrects Gains Ethereum price started a fresh increase after it found support near the $2,550 level, beating Bitcoin. ETH price was able to clear the $2,650 and $2,720 resistance levels. The bulls pushed the price above $2,800. ETH even spiked above $2,850. A high was formed at $2,880 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the upward move from the $2,483 swing low to the $2,880 high. Besides, there was a break below a key bullish trend line forming with support at $2,800 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,750 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $2,800 level. The next key resistance is near the $2,840 level. The first major resistance is near the $2,880 level. A clear move above the $2,880 resistance might send the price toward the $2,920 resistance. An upside break above the $2,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,000 resistance zone or even $3,120 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,820 resistance, it could start a fresh decline. Initial support on the downside is near the $2,755 level. The first major support sits near the $2,680 zone and the 50% Fib retracement level of the upward move from the $2,483 swing low to the $2,880 high. A clear move below the $2,680 support might push the price toward the $2,620 support. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,680 Major Resistance Level – $2,880

Solana (SOL) has surged 6.6% over the past week, raising hopes among holders that the digital asset may be on the cusp of a significant rally – one that could potentially propel it to new all-time highs (ATH). A combination of strengthening fundamentals and bullish technical signals supports this optimistic outlook. Solana Primed For A Spectacular Summer? According to a recent CryptoQuant Quicktake post by contributor burakkesmeci, SOL is currently undergoing a cooling phase on both the spot and futures Bubble Maps. The analyst shared the following chart to highlight this cooling period. For the uninitiated, a bubble map visualizes volume data across exchanges, with each bubble representing trading activity for a specific pair or platform. The size of the bubble indicates the total volume, while the color shows the intensity or change in that volume – such as cooling (green), neutral (gray), or overheating (red). At first glance, lower trading volume might seem like fading momentum. However, the CryptoQuant analyst suggests this deceleration could be a strategic accumulation phase, particularly as a potential catalyst looms on the horizon. Many in the crypto community are expecting the US Securities and Exchange Commission (SEC) to approve the first Solana exchange-traded fund (ETF) in the coming weeks. In an X post published today, Eric Balchunas, Senior ETF Analyst at Bloomberg, said Solana could lead a “potential altcoin ETF summer.” Meanwhile, predictions platform Polymarket currently places a 91% probability on a Solana ETF being approved in 2025 – the highest odds recorded since January of this year. Most speculators expect a SOL ETF to go live by July 2025. From a technical standpoint, things are also looking encouraging. In a recent X post, crypto analyst Ali Martinez remarked that if SOL breaks above the $200 mark, it could kickstart a 5x to 10x bull run. Martinez shared the following SOL weekly chart, which shows the digital asset forming a bullish Cup and Handle pattern. While the “cup” portion has already been completed, the emerging “handle” suggests the potential for significant price appreciation – possibly pushing SOL beyond $2,000. SOL Showing Promise But Take Caution Despite widespread optimism, some indicators urge caution. On-chain data recently revealed a large movement of dormant SOL coins, which has raised concerns about increased selling pressure in the near term. That said, a considerable number of analysts believe that SOL could surpass its current ATH of $293 later this year. At press time, SOL trades at $167.30, up 3.5% in the past 24 hours.

Bitcoin price started a fresh increase above the $107,500 zone. BTC is now struggling to clear $110,500 and might correct some gains. Bitcoin started a fresh upward move above the $108,000 zone. The price is trading above $107,800 and the 100 hourly Simple moving average. There was a break below a bullish trend line with support at $109,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh surge if it clears the $110,000 resistance zone. Bitcoin Price Corrects Gains Bitcoin price started a fresh increase after it settled above the $105,500 support zone. BTC was able to surpass the $106,500 and $108,000 resistance levels. The bulls even pumped the price above the $109,200 resistance. A high was formed near $110,375 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the upward move from the $105,477 swing low to the $110,373 high. Besides, there was a break below a bullish trend line with support at $109,450 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $107,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $109,250 level. The first key resistance is near the $110,000 level. The next key resistance could be $110,500. A close above the $110,500 resistance might send the price further higher. In the stated case, the price could rise and test the $112,000 resistance level. Any more gains might send the price toward the $115,000 level. More Losses In BTC? If Bitcoin fails to rise above the $110,000 resistance zone, it could start another decline. Immediate support is near the $108,000 level and the 50% Fib retracement level of the upward move from the $105,477 swing low to the $110,373 high. The first major support is near the $107,350 level. The next support is now near the $106,550 zone. Any more losses might send the price toward the $105,500 support in the near term. The main support sits at $105,000, below which BTC might gain bearish momentum. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $108,000, followed by $107,350. Major Resistance Levels – $110,000 and $110,500.

A new bill that aims to clean up crypto regulation in the U.S. is charging through Congress. The CLARITY Act just cleared two key House committees with bipartisan support, setting the stage for a possible full vote. It’s designed to finally answer the question that’s been plaguing the industry for years: Who’s in charge, the SEC or the CFTC? But not everyone’s convinced this bill is the solution. Some Democrats are worried it might do the opposite of what the name suggests and actually open the door to more confusion, not less. Two Committees, One Giant Leap The bill flew through the House Financial Services Committee with a 32–19 vote, and the Agriculture Committee followed with a landslide 47–6. On paper, it sounds like a win for clarity. The CLARITY Act outlines when a digital asset is considered decentralized and who gets to regulate what. The big move here is handing the reins to the Commodity Futures Trading Commission for certain crypto tokens, pulling some oversight away from the SEC. Supporters think this will give builders and investors the consistency they’ve been craving. But there’s a catch. Loophole Worries: Decentralization or Just Good Acting? Tucked inside the bill is a “decentralization test” that’s raising eyebrows. Critics say it might be too easy for big companies to pretend they’re decentralized, even if they’re really not. This could lead to a flood of projects gaming the system, the kind of slick maneuvering you’d expect from Wall Street, not from blockchain builders. Former CFTC Chair Timothy Massad was one of several voices raising concerns. He warned that the bill might look like progress on the surface, but without strong coordination between regulators, it could backfire. Massad argued that the SEC and CFTC should work together to set joint rules instead of duking it out in court or letting companies slip through the cracks. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 A Battle for Regulatory Turf This bill is not just about rules. It’s about who writes them. Right now, the SEC and the CFTC are often stepping on each other’s toes. The CLARITY Act tries to clean that up by giving more power to the CFTC, especially when it comes to treating tokens like commodities instead of securities. BitcoinPriceMarket CapBTC$2.16T24h7d30d1yAll time Backers of the bill say the CFTC is more familiar with these kinds of assets and will provide a more tailored approach. That could help speed up innovation and cut back on legal uncertainty. But it also risks sidelining investor protections if not handled carefully. The Road to a Full Vote Now that the committees have given the green light, the bill is headed toward a full House vote. Republicans are pushing hard, calling it a milestone for crypto innovation. But Democrats want to pump the brakes and tighten up the language around decentralization before anything gets locked in. The tension is real. The bill has momentum, but it also has gaps that need plugging. DISCOVER: 20+ Next Crypto to Explode in 2025 Why This Bill Actually Matters If it passes, the CLARITY Act could finally draw a line in the sand between different types of digital assets. That would give crypto developers, investors, and startups a better understanding of what rules apply to them and when. But if the bill falls apart, regulators will likely go their own way. SEC Chair Paul Atkins has already hinted that the agency will keep moving forward, whether or not Congress gets involved. That could leave the industry caught between clashing playbooks. Keep Your Eye on This One Over the next few weeks, amendments will be flying as lawmakers try to fix the parts of the bill that critics say are too soft. Meanwhile, crypto firms and policy analysts will be glued to the developments, hoping for a clear rulebook instead of more legal limbo. Whatever happens, this is the most serious crypto legislation Congress has looked at in years. It’s not just a regulatory fight, it’s a battle over how the country treats one of the fastest-moving tech sectors out there. This one’s worth watching. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The CLARITY Act just passed two House committees, aiming to define how crypto assets are regulated in the U.S. and who oversees them. The bill shifts more authority to the CFTC, offering potential relief for crypto firms facing SEC uncertainty. A “decentralization test” in the bill has sparked criticism, with fears that companies could abuse it to avoid tighter oversight. Supporters say the Act promotes innovation and regulatory clarity, while critics warn it could weaken investor protections. The bill now heads to a full House vote, with lawmakers debating whether it offers real reform or opens the door to new loopholes. The post Lawmakers Push New Crypto Rules, But Is the CLARITY Act Too Vague? appeared first on 99Bitcoins.

Bullish, the Peter Thiel-backed crypto exchange, has confidentially filed for an initial public offering in the United States. The move signals that the company is ready to take another swing at going public after its first attempt, via SPAC, fizzled out during the crypto market’s downturn in 2021. The Bullish IPO is a calculated second attempt to go public, this time under better market conditions and with less noise. The filing allows Bullish to test the waters with regulators and investors behind the scenes before putting all its cards on the table. Why It Matters Now The timing is no accident. Bitcoin is back above $110,000, crypto stocks are heating up, and U.S. political winds are turning in crypto’s favor. Earlier this month, Circle pulled off a successful IPO, raising over $1 billion. Gemini has also filed confidentially. For Bullish, the window looks open again. Instead of waiting to see if the rally sticks, it’s moving while investor appetite is still high. What Makes Bullish Different Bullish launched in 2021 with $300 million in backing from Peter Thiel’s Founders Fund, Galaxy Digital, and others. It pitched itself as a high-performance crypto exchange tailored to institutions, think hedge funds, not hobbyists. Unlike more casual trading apps, Bullish is focused on serious infrastructure: strong liquidity, tight trading spreads, and tools designed for professional volume. It’s based in Gibraltar but wants a presence on U.S. public markets. That’s a big leap from its original SPAC plans, which were shelved when crypto collapsed in 2022. Tom Farley, the former president of the New York Stock Exchange, now leads the company. Jefferies is acting as the lead underwriter, though Bullish hasn’t said when it plans to list or what valuation it’s chasing. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 What’s Changed Since 2021 Back then, Bullish tried to go public with a $9 billion valuation via a merger with Far Peak Acquisition Corp. That deal fell apart when the market tanked. Now the landscape looks very different. BitcoinPriceMarket CapBTC$2.16T24h7d30d1yAll time Crypto has bounced back, at least partially. Institutional interest is on the rise. U.S. regulators, while still murky in their approach, seem more open to letting certain companies through the IPO gates. And companies like Circle and Bullish are taking full advantage of the moment. Part of a Bigger Wave Bullish isn’t alone. It joins a fresh lineup of crypto-native firms eyeing public listings. Circle’s success set a precedent. Gemini is quietly preparing for its turn. Even Robinhood and Coinbase are benefiting from the broader mood swing. For investors, this means more regulated ways to gain exposure to the crypto sector without directly holding tokens. DISCOVER: Best New Cryptocurrencies to Invest in 2025 What Comes Next Bullish will need to survive SEC scrutiny, market itself to investors, and eventually publish its numbers. That’s when we’ll find out how strong the business really is — whether it has the revenue, user growth, and market volume to stand out. If the IPO goes through and performs well, it could give the industry another shot of confidence. If not, it will reinforce how hard it still is to bridge crypto and Wall Street. Bottom Line Bullish is making a second run at the public markets, but this time it’s doing it quietly, strategically, and with a market backdrop that finally looks promising again. Whether this gamble pays off will depend on more than hype; it’ll come down to performance, timing, and whether investors believe crypto’s institutional future starts here. With a stronger pitch to institutions and a seasoned Wall Street CEO at the helm, the Bullish IPO could land differently this time. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Bullish, backed by Peter Thiel, has confidentially filed for a U.S. IPO after its 2021 SPAC attempt fell through. The exchange focuses on institutional-grade infrastructure, offering deep liquidity and trading tools for professional investors. Market conditions have improved since 2021, with Bitcoin above $110,000 and other crypto firms like Circle and Gemini making IPO moves. Tom Farley, former NYSE president, now leads Bullish, which aims to enter U.S. public markets with Jefferies as its lead underwriter. If successful, the Bullish IPO could reinforce growing confidence in crypto’s place within traditional finance. The post Peter Thiel’s Crypto Exchange Bullish Files for U.S. IPO appeared first on 99Bitcoins.

Solana is holding firm above the $150 level as bullish momentum builds across the broader crypto market. With both Bitcoin and Ethereum pushing into higher prices, investor sentiment is improving, and altcoins like Solana appear poised to follow once the major players confirm a breakout. After weeks of consolidation and volatility, the stage may be set for a stronger move if current trends hold. Top analyst Jelle shared a technical analysis revealing that SOL has formed a higher low on the chart—a key bullish signal—and is now charging back toward the range highs. This structure indicates growing strength and the potential for Solana to retest and break through key resistance levels if buyers maintain pressure. The $150 zone now acts as a short-term support base, and as long as SOL holds above it, the bullish case remains intact. A confirmed breakout in BTC and ETH could act as the catalyst Solana needs to enter a new phase of upside. With the market leaning bullish and Solana’s technicals aligning, traders are watching closely to see if this move is the beginning of Solana’s next leg higher in the ongoing altcoin cycle. Solana Approaches Resistance As Bulls Regain Momentum Solana is showing renewed strength after spending several days consolidating below the $160 level. With a fresh move upward, SOL is now pushing into key resistance just under $175, a zone that has capped price advances multiple times over the past few months. This renewed momentum comes as the broader crypto market heats up, with Bitcoin and Ethereum breaking higher and dragging sentiment with them. Still, despite the optimism, caution lingers. Most altcoins, including Solana, remain well below their all-time highs. Jelle highlighted a critical development in Solana’s structure: the formation of a higher low. This bullish signal suggests growing buyer confidence and technical strength, as SOL now charges back toward the top of its range. According to Jelle, a breakout above $185 would be the key trigger that opens the door to new all-time highs. While the short-term trend favors the bulls, one key hurdle remains — flipping the $175–$185 resistance zone into support. This region has consistently rejected upside attempts, and clearing it with strong volume and follow-through is essential for confirming the next leg higher. Until then, Solana remains in a recovery phase. But with improving market conditions and clear signs of accumulation, momentum is shifting. A confirmed breakout could mark the return of “Solana season,” where SOL reclaims leadership among top altcoins. For now, all eyes are on the $185 level — the line between consolidation and a potential explosive rally toward uncharted territory. SOL Price Action Details Solana is currently trading at $165.80 on the daily timeframe, showing continued strength after reclaiming the 50-day SMA at $160.99. Price is now approaching the 100-day SMA at $175.70 — a key level that previously rejected multiple breakout attempts. The recent bounce from the $142–$145 support zone marked a higher low, reinforcing a bullish structure and setting the stage for another attempt to break through resistance. Volume has been rising modestly as price moves higher, suggesting growing interest and momentum among buyers. The crossover between the 50-day and 100-day SMAs would add further confirmation of trend strength, especially if SOL can maintain its current pace and push above $175 with conviction. A breakout above $175 would likely open the door for a retest of the psychological $190–$200 range, which has acted as a supply zone in recent months. On the downside, a failure to clear the 100-day SMA could result in another pullback toward the $155–$160 support region. Featured image from Dall-E, chart from TradingView

Perpetua Resources (Nasdaq: PPTA) (TSX: PPTA) announced Wednesday that it has entered into an agreement with National Bank of Canada Financial Markets and BMO Capital Markets, on behalf of themselves and a syndicate of underwriters who have agreed to purchase 22,728,000 common shares of the company for $13.20 per share for $300 million. National Bank of Canada Financial Markets and BMO Capital Markets are acting as joint lead bookrunning managers for the offering. In connection with the Offering, Paulson & Co. has entered into an agreement to purchase $100 million of common shares. Perpetua said it intends to use the proceeds for the development of the company’s Stibnite Gold project in Idaho that is being fast-tracked by the Trump administration, in conjunction with the application for up to $2 billion in project financing submitted to the Export-Import Bank of the United States (EXIM) in May. Also in May, Perpetua obtained final federal approval last federal permit required to progress the project towards construction. Combined with the EXIM debt financing and royalty financing the company believes that the net proceeds from the offering and the private placement will provide it with sufficient capital to fund the project construction costs of $2.2 billion, along with additional funds for cost overruns and exploration activities. The Stibnite project, with its recently secured record of decision from the US Forest Service, is uniquely positioned to supply the critical mineral antimony, which is essential to national security and energy technology, the company said. The Stibnite project holds an estimated 148-million-pound antimony reserve — the only identified antimony reserve in the US and one of the largest reserves outside of Chinese control. Once in production, it could meet about 35% of US antimony demand during its initial six years of production, according to the 2023 USGS commodity summary. The company said expects the remaining state permits required to commence construction to be issued by the relevant agencies in summer 2025. Perpetua Resources stock was trading flat at market close in New York, but was down 9.8% in after-hours trading. The company has a $1.1 billion market capitalization.

Crypto analyst Babenski has declared that the XRP price is breaking for a breakout. The analyst highlighted a bullish pattern that was forming, which could spark a rally to a new all-time high (ATH). XRP Price Forms Flag Pattern Which Points To $5 In a TradingView post, Babenski revealed that the XRP price is forming a small flag pattern above a previous big accumulation zone. The analyst added that it looks like a breakout could happen soon. His accompanying chart showed that the altcoin could rally to as high as $5 on this breakout, which would mark a new all-time high (ATH). Crypto analyst Dark Defender also recently predicted that the XRP price could rally above $5 on Wave 5 of the impulsive move to the upside. He remarked that the altcoin has been descending since January 17 this year and that the support level is increasing. In line with this, the analyst noted that there is an intersection now. Dark Defender declared that this is where XRP will decide within two weeks. His accompanying chart showed that the XRP price could hit $5.8563 on this move to the upside. In another X post, he affirmed that the altcoin is already on its way to a new all-time high. Crypto analyst Egrag Crypto also highlighted the fact that XRP was at a crossroads and could make a major move soon. In his most recent analysis, he stated that the XRP is at a critical juncture with a major formation breakout. The analyst remarked that the probabilities are about 70% to 80% for an upside breakout and 20% to 30% for a downside move. He added that the breakout is likely to be triggered by some fundamental news and that the chart hints that this news is imminent. These fundamentals are expected to be strong enough to break through key resistance levels. Things Are About To Get Exciting For XRP In an X post, crypto analyst CasiTrades declared that things are about to get exciting for the XRP price. She noted that the entire consolidation structure is reaching its final moments. With price at a standstill and momentum dormant, she said that this is exactly how large market moves are born. CasiTrades mapped out subwave 2 extensions from the recent local low. She stated that if that was indeed the Wave 2 bottom, then the measured extension projects upside targets. These targets align in the $8 to $13 macro zone which she has been highlighting for over a year. The analyst noted that this kind of alignment across structure, time, and Fibonacci extensions is rare, which is why everyone should be macro bullish on the XRP price. At the time of writing, the XRP price is trading at around $2.29, down in the last 24 hours, according to data from CoinMarketCap.

Kakula mine looking north, with the Phase 1 and 2 concentrators in the background. Credit: Ivanhoe Mines Ivanhoe Mines (TSX: IVN) says it has restarted the western portion of the Kakula copper mine in the Democratic Republic of the Congo following its temporary suspension nearly a month ago. The underground mine, part of the company’s larger Kamoa-Kakula copper complex in the DRC, was forced to shut down on May 18 due to severe flooding that resulted from seismic activity in the region. The complex is Africa’s largest copper-producing operation, with majority ownership split between Ivanhoe and China’s Zijin Mining at 39.6% each, while the DRC government holds a 20% stake. Despite conflicted reports over the potential damage by Ivanhoe and its joint venture partner Zijin, industry analysts have said the mine should be able to resume once the necessary dewatering and remediation efforts are completed. On Wednesday, Ivanhoe confirmed that the western section of the Kakula returned to operations “in a safe and conservative manner” on June 7 after the flooding had stabilized following the installation of additional water pumping capacity. Mining activities in the eastern side are also expected to start imminently, focused solely on developing access drives to a new mining area east of the existing mine workings, it added. “We are thankful and deeply appreciate our team’s swift response to stabilize underground water levels in the Kakula mine and resume mining on the western side,” executive co-chair Robert Friedland commented. “The team has quickly secured the critical equipment needed to safely dewater the entirety of the mine, while preparing to access a new high-grade mining area in the east.” Revised guidance With the mining restart, Ivanhoe has presented a new 2025 production guidance for the Kamoa-Kakula complex: between 370,000 and 420,000 tonnes of copper in concentrates. This forecast, based on the midpoint of its guidance range, represents a 28% decrease over the company’s prior guidance (between 520,000 and 580,000 tonnes) set in January. With the downward guidance, shares of Ivanhoe fell 5.9% at C$10.86 apiece at Wednesday’s close, taking its market capitalization to C$14.6 billion ($10.7 billion). According to Ivanhoe, the guidance was revised down after taking into the probable effect of recent seismic activity and associated interruptions in operations at the Kakula mine. It also highlighted several risk factors that were taken into consideration, such as further seismic activity and infrastructure breakdown. In addition, management has also withdrawn its 2026 target of approximately 600,000 tonnes of copper production, pending further review. “While it’s still too early to outline our detailed plans for 2026 and 2027, the future remains bright across the Kamoa-Kakula copper complex,” Friedland reiterated in the press release. As previously disclosed, the Phase 1 and 2 concentrators at Kakula are still operating at approximately 50% of their combined operating capacity, processing ore from surface stockpiles. The processing rate of the concentrators is expected to ramp up throughout the remainder of 2025, as mining from the western side of the mine increases, Ivanhoe said. Meanwhile, mining operations at the Kamoa underground mine, as well as ore processing at the adjacent Phase 3 concentrator, continue to outperform, it added. With the necessary copper concentrate expected to be available, the on-site smelter is anticipated to start up in September, with first production expected in October 2025.

On-chain data suggests Ethereum doesn’t face any dominant resistance levels until $3,417, something that could open up the path to the mark. Ethereum Cost Basis Distribution Shows Resistance Ahead Is More Spread Out In a new post on X, the on-chain analytics firm Glassnode has talked about how the Cost Basis Distribution is looking for Ethereum right now. The “Cost Basis Distribution” is an indicator that tells us about how much of the asset’s supply was last purchased at which price levels. First, here is a chart that shows what the cryptocurrency’s latest breakout has been like from the perspective of this indicator: As displayed in the above graph, Ethereum has managed to break through a few notable supply levels with the latest price surge. Both the $2,700 and $2,740 levels hold the cost basis of about 1.3 million ETH, while the $2,760 mark holds that of 800,000 ETH. In on-chain analysis, levels concentrated with supply are considered important, due to the simple fact that investors are likely to show a reaction to price interactions with their cost basis. When this retest occurs from below, the holders may react by selling their coins. Loss investors can be desperate to get back into the green, so when the price does return to their break-even, they can panic and exit out of fear that they will go back underwater in the near future. Naturally, the more investors that share their cost basis at a particular level, the stronger this kind of selling reaction tends to be. As such, levels above that hold a significant amount of supply can act as resistance barriers to ETH’s price. Ethereum was earlier stuck under the aforementioned supply zones for a month, potentially because of this resistance effect, but now the cryptocurrency has finally reclaimed them. Just like how strong levels above can pose resistance, those below can be a center of support instead. As such, it’s possible that the role of the $2,700, $2,740, and $2,760 supply walls would now change. “These investors accumulated during consolidation and now will potentially form a strong support zone,” notes Glassnode. The support effect can arise from holders carrying a bullish mindset and looking at declines to their cost basis as dip-buying opportunities, or simply from them wanting to protect their acquisition boundary. Now, here is another chart shared by the analytics firm that shows how the Ethereum Cost Basis Distribution looks for the levels ahead of the latest spot value: From the graph, it’s visible that the levels ahead have the Ethereum supply distributed in a more uniform manner, with no strong clusters present until $3,417. More specifically, the price levels before this mark contain 200,000 to 400,000 ETH at every $50 gap. In comparison, the $3,417 level currently holds the cost basis of about 607,950 ETH. “If the $2.70K–$2.76K support range holds, the path to $3.42K remains technically open – but the response from holders in the $2.8K–$3.3K range will define how quickly ETH can climb – currently, it’s already 47.5% up QTD,” explains Glassnode. ETH Price Ethereum briefly broke above $2,830 in the past day, but the coin has since faced a pullback as it’s back at $2,780.

Log in to today’s North American session Recap for June 11. We cannot say the same as yesterday as it pertains to volatility: markets were very volatile – today's data sent markets seesawing all around. U.S. inflation data came in notably softer than expected, with Core CPI rising just 0.1% m/m versus the 0.3% forecast, bringing the y/y rate down to 2.8%. Headline CPI also undershot expectations at 0.1% m/m (vs 0.2% expected). The combination of resilient labor data and cooling inflation has boosted market sentiment, reducing fears of stagflation and reinforcing the case for a soft landing, although markets sold the news. The Nasdaq breached the 22,000 mark not once but twice in the day and still finishes lower on sell-the-news flows. Only the Dow finishes the day unchanged – let's keep an eye on these flows as selling such positive news gives a bad outlook ahead. The Canadian TSX did break new all-time highs though, as Canada gets ready to invest more into its Military for the times ahead. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Bitcoin’s recent price surge hasn’t stopped warnings of a steep drop. After rising 1.87% in 24 hours and 3.61% over the past week, Bitcoin trades near $109,192. According to Peter Brandt, a veteran trader, these gains could be setting up the biggest crash in years. Crash Scenario Outlined According to Brandt’s analysis, Bitcoin could plunge by as much as 75%. If that happens, today’s $109,800 price would fall to roughly $27,290. That level takes us back to the lows of early 2023. It would wipe out a huge chunk of value, reversing more than two years of gains. Few investors have models ready for such a steep slide. Historical Parallels With 2022 Based on reports, Brandt sees a replay of the 2022 chart. Back then, Bitcoin hit tops of $65K in April 2021 and $69K in November 2021. It then fell sharply into the bear market, losing more than half its value. This time around, the world’s top crypto formed highs above $108,000 in December 2024 and January 2025, then dropped under $100,000. After recovering near $112,000 last month, BTC may be gearing up for a similar breakdown. Trigger Points To Watch Key technical markers are flashing red. The 9-period EMA has just crossed below the 21-period EMA on the daily chart. In past sell-offs, that crossover marked the start of big downtrends. Traders will want to see if Bitcoin closes below both EMAs for a week or more. A failure to reclaim the $108,000 level could be the final trigger before panic sets in. Market Reactions And Risks Derivatives data is mixed but leans bearish. Trading volume jumped almost 30% to $100 billion, while open interest rose 1%. On Binance and OKX, the long/short ratios sit at about 0.5501 and 0.53, showing more shorts than longs. When too many people bet on a drop, a squeeze can follow—if the crash doesn’t start soon. Still, the current crowding could backfire if Bitcoin holds above support. Funds tied to Bitcoin have seen nearly $57 million in outflows over the past week. That may sound big, but it’s under 0.2% of the roughly $50 billion assets under management. By contrast, Ethereum products attracted $295 million. So while some money is leaving Bitcoin, it’s shifting around inside crypto rather than fleeing entirely. For now, Bitcoin sits at a crossroads. Will it break support and roll over toward the mid-$20,000s? Or will it shake off warnings and press higher? Either way, traders need to watch the $108,000 zone closely. According to Brandt, a 75% drop could catch unprepared investors off guard. Managing risk and keeping orders tight seems more critical now than ever. Featured image from Pixabay, chart from TradingView

The week had started on a relatively calm note in for currency markets as markets had been bracing for the US CPI release that came out this morning. Last week finished on a broadly positive note as Non-Farm Payrolls beat which gave some relief to a US Dollar that was selling heavily throughout the past week, with the DXY marking lows at 98.35 before consolidating higher. However, this morning's miss on the Inflation data, particularly on the Fed's favorite Core month-over-month (0.1% vs 0.3%) sent the Dollar Index lower and it is currently retesting last week's lows. The Canadian Dollar on the other hand has been holding and is broadly unchanged on the week against other currencies – more on this further in the article. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The XRP price is turning bullish once again, with new technical analysis indicating that the altcoin could be on track for a fresh All-Time High (ATH). As the price moves toward breaking key resistance levels, analysts are calling for a potential surge above $4. Alongside this outlook, they have provided detailed trading guidance and identified the ideal timeframe for investors to consider taking profits. Master Ananda, a prominent TradingView analyst, has reported that XRP is currently showing strong technical signs of a bullish breakout that could lead to new all-time highs above $4.5. Despite experiencing a months-long downtrend, the cryptocurrency appears to be entering a powerful new growth phase that could bring its price significantly higher than previous ATH levels around $3.84. XRP Price Eyes Huge ATH Breakout Above $4.5 Notably, the TradingView analyst points to the bottom of a recent correction forming on April 7, with a peak established on May 12. This was followed by a 24-day retracement phase that ended on June 5, when XRP formed a higher low. Based on these price movements, Master Ananda notes that it’s been approximately 27 days since XRP last saw bullish price action, marking almost an entire month of consolidation. Related Reading: XRP Wave Structure Predicts Wild Fluctuations On Its Way To $4 ATH Nevertheless, the analyst highlights that the recent confirmation candle on June 8 supports the expectation that XRP is resuming its upward trajectory. The analyst’s chart illustrates a clear breakout from a descending trendline, followed by a shift into an ascending channel. This formation, paired with substantial volume activity and a bullish price structure, signals a possibly strong rally for XRP. Fibonacci levels drawn on the chart suggest that XRP could reach a near-term target of $4.5 (1.618 Fob) after surpassing upper resistance levels at $2.71 and $3.019. The chart also shows a potential for XRP to exceed this initial $4.5 level to reach $6.29 (2.618 Fib). Notably, Master Ananda predicts that XRP could reach a peak before most assets this cycle, as its bullish momentum had an early start with a historic run from $0.5 to slightly above $3 this year. The analyst also forecasts that once XRP reaches the top, a significant correction could follow, potentially marking the end of the current bullish setup. Analyst Unveils Trading Strategy And Take Profit Zone Beyond short-term price action, Master Ananda outlines a broader trading strategy focused on holding through the current growth wave. Rather than taking incremental profits around the $2.71 and $3.02 price highs, the analyst recommends that traders maintain a full position until XRP hits the $4.5 target and take-profit zone. This approach is designed to capture the maximum upside potential of this bullish cycle without diluting gains through early exits. Once XRP reaches this level, the analyst suggests taking profit partially—-not to exit entirely but to prepare capital for a potential redeployment during the next market retracement. Master Ananda also positions XRP as a lead indicator in what could be an extended altcoin bull market. A breakout above $4.5 will likely trigger explosive growth in lower-cap cryptocurrencies. While XRP is expected to generate up to 50% gains, these assets, according to the TradingView analyst, have the potential to yield returns of 150% in a single day.

SUI has quickly become a standout performer in the crypto market, posting a dramatic 150% gain from $1.71 to $4.30. Yet, not all is smooth sailing. A $215 million token unlock on June 1, 2025, threatens to introduce major selling pressure. Volatility Meets Opportunity: SUI Charts A Risk-Reward Path According to SirRichard’s latest update on X, SUI has exhibited notable price swings, but its long-term outlook remains firmly bullish. The token recently pulled off a remarkable 150% rally, climbing from a low of $1.71 to a high of $4.30. This explosive move caught the attention of traders, especially as it coincided with a golden cross formation on the daily chart, a classic technical signal that often precedes major bullish continuation. Based on this setup, SirRichard believes SUI could be preparing for an even more significant leg up, potentially targeting new highs around the $7.56 mark. If this plays out, it would represent a staggering 380% gain from earlier levels. However, he also warned that the journey may not be without obstacles, particularly as other technical and fundamental signals begin to surface. A recent bearish crossover in the Exponential Moving Averages (EMAs) may hinder SUI’s bullish momentum in the short term. Additionally, the token unlock on June 1, 2025, resulting in the release of approximately $215 million worth of SUI into circulation, poses a potential risk. Such a large supply event could introduce selling pressure and spark short-term volatility if not absorbed smoothly by the market. Currently, immediate support lies between $3.40 and $3.43, which could act as a cushion in the event of a dip. On the upside, resistance is building around the $3.50–$4.00 zone. A firm break above this level would reignite bullish momentum, paving the way for SUI’s next upward surge. Bearish Winds Loom, But On-Chain Strength Holds Ground On the other hand, if bearish sentiment intensifies, the price could fall toward the $2.33 level, a key support that could be tested. Such a move would likely challenge bullish confidence and introduce volatility in the near term. Despite this, the broader outlook is supported by impressive network activity. SUI’s ecosystem has seen over $40 billion in aggregator volume, a significant metric pointing to strong participation and interest. Even more encouraging is the 24% increase in activity over the last 30 days, highlighting a growing user base and rising utility. These fundamentals serve as a strong counterbalance to short-term risks. If sustained, they could provide a firm foundation for renewed bullish momentum. As such, any price dip may offer a fresh opportunity for long-term investors.

Stany Zjednoczone oficjalnie rozpoczęły budowę Rezerwy Strategicznej Bitcoina, a Bitcoin Hyper($HYPER) wspiera rozwój warstwy drugiej króla kryptowalut. Nowa struktura powstała z inicjatywy administracji Donalda Trumpa, która zdecydowała się wykorzystać skonfiskowane środki w celu zabezpieczenia cyfrowych aktywów. Ten ruch nie wynika z przypadku. Z danych udostępnionych przez Gemini i Glassnode wynika, że ponad 30% całkowitej podaży BTC znajduje się w rękach scentralizowanych podmiotów. Wśród nich są fundusze ETF, giełdy kryptowalut, przedsiębiorstwa oraz rządy. W raporcie podkreślono, że zaangażowanie instytucji publicznych może mieć istotny wpływ na rozwój rynku. Każdy dolar wprowadzony przez państwowy kapitał przekłada się na wzrost wartości rynkowej w wysokości 25 dolarów. Co więcej, generuje 1,70 dolara trwałego wzrostu wartości sieci. Tego typu wpływ sygnalizuje coraz większe znaczenie strategicznych rezerw w świecie cyfrowych aktywów. Nowy sygnał dla inwestorów długoterminowych Bitcoin przestaje być kojarzony wyłącznie z aktywem spekulacyjnym. Wzrost liczby zasobów przenoszonych z giełd do niezależnych depozytariuszy wskazuje na proces konsolidacji. Zmienność kursu uległa zmniejszeniu, co ułatwia planowanie inwestycji w dłuższym horyzoncie. Obecne cykle rynkowe nie przypominają już gwałtownych skoków i spadków. Sprawdź, jak kupić Bitcoina. Źródło: CoinMarketCap Zamiast tego charakteryzują się spokojniejszymi, bardziej stabilnymi wzrostami. Rezerwa Strategiczna działa nie tylko jako narzędzie ochrony wartości. Stanowi również dowód na to, że państwa zaczynają włączać kryptowaluty do swoich modeli zarządzania finansami. Dla inwestorów oznacza to zwiększoną pewność, a także nowe formy zaangażowania kapitału instytucjonalnego. Zjawisko to może wpłynąć na dalsze umacnianie pozycji Bitcoina w globalnym systemie finansowym. Bitcoin Hyper – nowa warstwa funkcjonalności Pomimo coraz większej akceptacji ze strony instytucji, główna sieć Bitcoina długo pozostawała ograniczona w zakresie możliwości technologicznych. Sytuacja ta zmienia się dzięki projektowi Bitcoin Hyper. W ciągu pięciu dni sprzedaż tokena $HYPER przekroczyła milion dolarów. Sprawdź też najlepsze kryptowaluty poniżej 1 dolara. To efekt rosnącego zapotrzebowania na rozwiązania, które rozszerzają funkcjonalność Bitcoina bez naruszania jego podstawowych zasad bezpieczeństwa. Bitcoin Hyper to druga warstwa Bitcoina zbudowana na maszynie wirtualnej Solany, która działa w połączeniu z bazową warstwą BTC. Taka konstrukcja pozwala uzyskać ponad 2 tysiące transakcji na sekundę, zachowując przy tym odporność na manipulacje oraz decentralizację. Użytkownicy mogą realizować szybkie przelewy, korzystać z aplikacji zdecentralizowanych, a także uczestniczyć w nowych formach aktywności, takich jak staking czy zdecentralizowany handel. Mechanizm działania sieci Bitcoin Hyper System opiera się na transparentnym modelu. Użytkownik deponuje BTC w inteligentnym kontrakcie, który weryfikuje transakcję na podstawie danych z łańcucha bloków. Następnie sieć emituje równoważny token, możliwy do wykorzystania w ekosystemie Bitcoin Hyper($HYPER). Po zakończeniu aktywności użytkownik może spalić token i odzyskać oryginalne BTC. W tle działają dowody zerowej wiedzy oraz weryfikacja danych przez light clients. Użytkownik przesyła bitcoiny do inteligentnego kontraktu, który potwierdza transakcję na podstawie danych z sieci głównej. Po weryfikacji powstaje równoważny token w sieci Hyper, gotowy do dalszego wykorzystania. Kiedy użytkownik chce wycofać środki, token zostaje unieważniony, a oryginalne Bitcoiny wracają do właściciela. Cały proces odbywa się z użyciem zaawansowanych metod kryptograficznych, które zapewniają bezpieczeństwo i zgodność z głównym łańcuchem bez konieczności angażowania pośredników. Właściciele tokena $HYPER mogą korzystać z produktów o podwyższonym zwrocie, zyskać dostęp do zaawansowanych narzędzi oraz uczestniczyć w dalszym rozwoju projektu. Twórcy aplikacji mają szansę uzyskać dofinansowanie i zwroty kosztów opłat sieciowych, jeśli zdecydują się wykorzystywać $HYPER w swoich kontraktach. Dane z rynku potwierdzają skuteczność modelu Bitcoin Hyper Podobne projekty już wcześniej osiągały znaczące wyniki. Arbitrum zgromadziło ponad 13 miliardów dolarów wartości zablokowanej oraz ponad milion aktywnych portfeli. Sieć Base, powiązana z Coinbase, przekroczyła wartość 2,5 miliarda dolarów i notuje ponad milion aktywnych adresów dziennie. Dane te to dowód na to, że dobrze zaprojektowane sieci drugiej warstwy mogą szybko zdobywać rynek i użytkowników. Bitcoin Hyper ma potencjał, żeby powtórzyć ten sukces i stać się jedną z najlepszych przedsprzedaży kryptowalut. Całkowita podaż tokenów została ustalona na 21 miliardów, bez alokacji dla uprzywilejowanych grup. Obecnie trwa przedsprzedaż tokena $HYPER, a jeden z większych inwestorów nabył niedawno tokeny za równowartość 55 tysięcy dolarów. Tego rodzaju ruchy ze strony dużych graczy często prognozują większe zmiany. Nowa rola Bitcoina w cyfrowym świecie Rozwój Rezerwy Strategicznej oraz wdrożenie sieci Hyper to dwa bieguny tej samej zmiany. Z jednej strony widać instytucjonalizację zasobów cyfrowych. Z drugiej pojawiają się narzędzia, które poszerzają zakres ich użycia. Bitcoin przestaje pełnić jedynie funkcję przechowywania wartości. Staje się środowiskiem operacyjnym dla całych aplikacji, usług i produktów nowej generacji. Bitcoin Hyper wnosi do sieci Bitcoina funkcjonalność, której dotąd brakowało. Dzięki nowej warstwie technicznej możliwe stają się szybkie transakcje, obsługa aplikacji finansowych, zdecentralizowanych projektów i rozwiązań opartych na inteligentnych kontraktach. Sieć zyskuje skalę, której wymaga nowoczesna gospodarka cyfrowa. Bitcoin nie pełni już wyłącznie roli cyfrowego magazynu wartości. W połączeniu z Bitcoin Hyper przechodzi transformację w platformę operacyjną dla szerszego ekosystemu finansowego. Może wspierać codzienne zastosowania, przepływy kapitału, tworzenie nowych usług oraz rozwiązań dla użytkowników i firm. Kup Bitcoin Hyper

Perseus Mining (ASX, TSX: PRU) is forecasting annual gold production of 515,000-535,000 oz. at an all-in sustaining cost of $1,400-$1,500/oz. over the next five fiscal years ending 2030, the company said on Wednesday. The five-year outlook covers Perseus’ three existing mines — Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire — as well as the Nyanzaga project in Tanzania that is scheduled to begin mining in early 2027. Credit: Perseus Mining The largest contributor over the five years will be Yaouré, accounting for one-third of the projected total production of 2.6-2.7 million oz. The mine, which entered commercial production in March 2021, is expected to produce 210,000 oz. annually over a 12-year mine life. Meanwhile, the Edikan mine — Perseus’ first producing asset — is expected to make up 28% of the group’s gold production until FY2030, while the Sissingué gold complex would provide 10% of its output. The recently committed Nyanzaga project in Tanzania is anticipated to contribute the remaining 28%. In its press release Wednesday, the Australian miner said it “has strong confidence” in its ability to deliver on this five-year outlook, underpinned by a mine plan with high geological and technical certainty, with 93% of the production forming part of the existing ore reserves. Total development capital of $878 million has been allocated to the operating assets during the period to achieve this production outlook, it added. Short-term setback In 2023, Perseus delayed its Meyas Sand project in Sudan to prioritize the development of Nyanzaga instead, a decision it says would drop its annual gold output below 500,000 oz. in 2026 and 2027. The company first achieved that annual production target in FY2022. Commenting on the group’s five-year outlook, CEO and managing director Jeff Quartermaine said: “It is clear that this is a temporary setback and that Perseus’s strategy of consistently producing between 500,000 to 600,0000 oz. of gold per year at a cash margin of not less than $500/oz., is eminently achievable.” “With cash and undrawn debt capacity currently exceeding $1.1 billion, Perseus is fully funded to not only deliver the five-year outlook as presented today but also consider a prudent mix of future growth opportunities beyond the current plan,” he added. Perseus Mining’s Toronto-listed shares fell 5.3% to C$3.24 apiece by 12:30 p.m. ET on the five-year outlook, giving the company a market capitalization of C$4.45 billion ($3.26 billion).

British Columbia’s mining industry is entering a crucial stage rich in opportunity for critical minerals and gold, but it’s still dogged by slow permitting and widespread uncertainty, according to global accounting firm PricewaterhouseCoopers. Revenue from BC mining operations fell to C$13.9 billion in 2024 from C$15.8 billion in 2023, largely due to a drop in metallurgical coal prices, PwC says in its 57th annual BC Mine report, released this month. Coal remains the province’s largest mining revenue contributor at 52% – with 95% of that coal for steelmaking – but volatility continues to challenge the mining sector. “Metallurgical coal is a key commodity for British Columbia with active mining operations located in both the southeast and northeast parts of the province,” Mark Patterson, PwC’s BC mining leader, said in an emailed response to questions. “Prices are really subject to two key driving factors – consistency of supply of coal from Canada and other global sources…[and] demand from steel mills which is largely a function of overall economic activity.” British Columbia, Canada’s second-largest mining jurisdiction by exploration spending and a leading producer of copper, gold and metallurgical coal, is poised to benefit from resource nationalism triggered by efforts to dislodge US tariffs and China’s critical minerals dominance. But despite being home to many of Canada’s top mining companies and TSX-listed juniors, billions in investments linger amid BC permitting delays, policy uncertainty and shifting global demand. Prices forecast Prices for metallurgical coal have dropped to around $188 per tonne from a peak of $377 a tonne seen after Russia’s 2022 invasion of Ukraine, according to Platts. Copper is predicted to average $4.18 per lb. this year, CIBC analysts forecast in the PwC report. The red metal remains central to the energy transition and is driving new investment across the province. Copper output in BC rose 13% to 316,487 tonnes last year. Gold production rose “marginally” from 2023’s total of 603,700 oz. (PwC didn’t report the exact number) as revenue increased 34% on surging prices. With gold trading near record highs in 2025, BC producers are expecting even stronger results. “We don’t have a crystal ball and there is significant uncertainty created by global events and the actions of our southern neighbours,” Patterson said. “As long as that uncertainty continues, gold in particular, will be an important driver.” Artemis Gold’s (TSXV: ARTG) Blackwater gold project, which started commercial production in May, is expected to produce more than 300,000 oz. annually over its first five years, making it one of the largest new gold mines in Canada. Priority list Expansion plans are advancing at Teck Resources’ (TSX: TECK.A/TECK.B; NYSE: TECK) Highland Valley Copper mine, Centerra Gold’s (TSX: CG; NYSE: CGAU) Mount Milligan mine, and the Kemess project, also held by Centerra. Skeena Resources’ (TSX, NYSE: SKE) redevelopment of the Eskay Creek gold-silver mine is progressing as well. All four projects were named to the provincial government’s major project priority list in February. While the province’s permitting framework remains an obstacle, Premier David Eby is taking steps to promote the industry as part of a broader shift that includes an “economic imperative” and a growing recognition of the sector’s value, PwC said. “We now have a ministry government dedicated to Mining and Critical Minerals with a mandate specific to this sector,” Patterson said. “General public awareness of mining, the importance of mining to the prosperity of the province and the country, its job creation capacity etc., is arguably in a more positive place than any time in the recent past.” The report is based on financial data from 13 operating mines and interviews with executives from 10 exploration and development companies. Contributors include Shelley Gilberg of PwC Canada in conversation with Integra Resources (TSXV: ITR; NYSE: ITRG) CFO Andrée St-Germain, as well as executives from Skeena Resources, MineSense Technologies, and Ideon Technologies. Mining vs oil Even with Eby favouring mining over other natural resource infrastructure such as oil pipelines and liquid natural gas terminals, companies remain cautious. “BC needs to drive a path to economic growth and economic independence from the US,” Patterson said. “Our mined products, unlike other industries such as forestry, are primarily shipped to markets other than the US.” While BC’s mining sector operates under stronger environmental, social and governance norms in relation to First Nations than many other jurisdictions, the province and companies could strengthen Indigenous economic participation, Patterson said. “The mining sector needs to have the infrastructure in place to enable First Nations groups to meaningfully participate in projects,” he said. “Corporations see economic reconciliation in collaboration with the provincial and federal governments as a key role that they can play.” PwC strikes an optimistic tone, noting the value of critical minerals copper, molybdenum and zinc mined by survey respondents rose 15% last year. Copper revenue increased by 20%. “The greatest opportunity, however, lies in the federal and provincial governments’ heightened interest in resource development and the recognition that to control its own economic future, Canada has to responsibly accelerate mining projects,” PwC said. “In British Columbia, that means reducing administrative and regulatory hurdles without compromising on due diligence.”

Bitcoin is once again knocking on the door of price discovery, but researchers at Bitwise Asset Management argue that spot quotations still understate what the network is worth. In their Week 24 Crypto Market Compass circulated late Tuesday, Dr. André Dragosch, Bitwise’s Head of Research for Europe, and analyst Ayush Tripathi calculate that “quantitative models estimate Bitcoin’s hypothetical ‘fair value’ amid the current sovereign default probabilities at around $230,000 today.” The figure implies a premium of just over 110 percent to the market price, which was hovering near $109,600 at press time on 11 June 2025. Bitcoin’s ‘True Worth’ Is Explosive Dragosch ties that assessment to the rally in sovereign-risk hedges. United-States one-year credit-default-swap spreads are trading near half-percentage-point territory—levels last seen during the 2023 debt-ceiling scare—reflecting “broader concerns over the US fiscal deficit,” Reuters reported last week. “Bitcoin can provide an alternative ‘portfolio insurance’ against widespread sovereign defaults as a scarce, decentralised asset which is free of counterparty risks,” the note argues, adding that net interest outlays projected by the Congressional Budget Office point to a tripling of US debt-service costs to roughly $3 trillion by 2030. The macro backdrop, however, is not the only pillar supporting Bitwise’s fair-value call. The firm’s in-house Cryptoasset Sentiment Index shows twelve of fifteen market-breadth gauges trending higher, while the cross-asset risk-appetite index (CARA) compiled from equities, credit, rates and commodities has surged to a five-year high. “Both cryptoasset and cross-asset sentiment are now decisively bullish,” Dragosch writes, noting that Bitcoin’s climb back above $110,000 places it within two percent of the all-time high near $112,000 set in May. On-chain data remain constructive. Exchange reserves have slipped to 2.91 million BTC—about 14.6 percent of the circulating supply—after whales withdrew an estimated 390,632 BTC last week. At the same time, net exchange-spot outflows slowed to roughly $0.53 billion from $1.78 billion the previous week, suggesting lighter profit-taking pressure. Derivative positioning echoes the spot-market resilience. Aggregate Bitcoin futures open interest added 2,200 BTC across venues, while the CME leg gained 6.4 k BTC. Funding rates on perpetual swaps stayed positive overall despite flipping negative for parts of the weekend, and the three-month annualised basis held around 6.3 percent. In options, open interest expanded by 27,300 BTC, with the put-to-call ratio settling at 0.55; one-month 25-delta skew remained modestly negative, implying continued demand for downside hedges even as realised volatility slipped to 28.2 percent. Institutional flows are reinforcing the bullish tone. Global crypto ETPs absorbed $488.5 million last week, of which $254.9 million went into Bitcoin products. US spot Bitcoin ETFs led the charge with $525 million of inflows, counterbalanced by a $24.1 million weekly leak from the Grayscale Bitcoin Trust. Bitwise’s own BITB vehicle attracted $78.1 million, while its European physical Bitcoin ETP (BTCE) saw only marginal outflows. Ethereum products also enjoyed $260.9 million in net inflows, maintaining the broad-based risk bid. Bitwise concedes that headline risk can still provoke sharp, short-lived drawdowns—last week’s spat between Elon Musk and President Donald Trump briefly drove BTC back to $100,000—but sees structural forces firmly tilted to the upside. “US economic policy uncertainty has most likely passed its zenith already and continues to decline at the margin,” Dragosch writes, pointing to May non-farm-payroll growth of 139,000 and a moderation in recession odds. With Bitcoin already outperforming traditional assets year-to-date and cross-asset sentiment now confirmed by Bitwise’s indicators, the analysts argue that the market is beginning to price the asset less as a speculative vehicle and more as a macro hedge. Whether traders embrace the $230,000 fair-value marker hinges on the same variables underscored in the note—sovereign-risk premiums, policy uncertainty and the pace of institutional adoption—but the groundwork, they say, is visible on-chain, on desks and in the flow data. “Bitcoin also reclaimed 110k USD and is close to its previous all-time high,” the report reminds readers. For Bitwise, that proximity is not an end point but a staging area: the monetary asset’s intrinsic value, they conclude, resides “considerably further north.” At press time, BTC traded at $109,617.

Gold, driven by record purchases and surging prices, has overtaken the euro as the second most important reserve asset behind the dollar, says the European Central Bank (ECB). According to ECB’s annual currency assessment published Wednesday, bullion made up about 20% of the global official reserves at the end of 2024, surpassing the euro’s 16%. The US dollar, meanwhile, maintained its large lead at 46% but continued to see steady declines. Credit: ECB “Central banks continued to accumulate gold at a record pace,” the bank wrote, noting that 2024 was the third year in a row in which gold purchases surpassed 1,000 tonnes — twice as fast as the decade of the 2010s. The amount of gold held by central banks worldwide is approaching historic highs last seen in the Bretton Woods era. In the mid-1960s, central bank holdings peaked at roughly 38,000 tonnes, while 2024 gold reserves totalled 36,000 tonnes, the ECB report showed. According to the World Gold Council, the largest buyers of gold last year were Poland, Turkey, India and China, which together accounted for about a quarter of the global purchases. The ECB attributes the rise in gold’s share in foreign reserves to the surge in the metal’s price, which rose nearly 30% during 2024 and continued to rally this year, setting a record high of $3,500 an ounce in April. De-dollarization movement ECB economists also pointed to rising geopolitical tensions as a major driving force behind some central banks’ motivation to diversify away from the dollar and into bullion. “Gold demand for monetary reserves surged sharply in the wake of Russia’s full-scale invasion of Ukraine in 2022 and has remained high,” they wrote, noting that gold has historically been used by nations as a hedge against potential sanctions since 1999. A survey conducted by ECB showed that two-thirds of central banks invested in gold for purposes of diversification, while two-fifths did so as protection against geopolitical risk. “Countries that are geopolitically close to China and Russia have seen more marked increases in the share of gold in their official foreign reserves since the last quarter of 2021,” the bank said, emphasizing that geopolitical risks have led to the de-dollarization trend seen in many developing nations. Additionally, ECB’s analysis found that the longstanding inverse relationship between gold prices and real yields broke down in 2022 as central banks began buying bullion as insulation from sanctions risk. Geopolitics could continue to keep central banks’ gold holdings elevated in the coming years, as ECB’s survey suggests that 80% of official reserve managers consider this as a key decision-making factor for the next 5-10 years.

Cyclic Materials, a Canadian startup backed by Amazon and Microsoft, is investing $25 million to build a rare-earths recycling plant and research centre in Kingston, Ontario. The company has developed proprietary technology that recovers rare earth elements from discarded products such as wind turbines and data-centre hard drives. In 2023, it launched a commercial demonstration facility using this process to extract rare earth magnets. By 2024, it had opened a second facility in Kingston to produce Mixed Rare Earth Oxide (rMREO). Last year, the federal government awarded Cyclic Materials $4.9 million to build a demonstration facility in Kingston. That project is now complete. The new 140,000-square-foot Kingston Centre of Excellence will mark the company’s first commercial-scale “Hub” processing unit. It will begin operations in the first quarter of 2026 and is designed to process 500 tonnes of magnet-rich feedstock annually, converting it into rMREO. This recycled product contains critical components such as neodymium, praseodymium, terbium, and dysprosium. These elements are key to manufacturing permanent magnets used in electric vehicle motors, wind turbines and consumer electronics. “With this Centre of Excellence, we’re advancing our core mission: to secure the most critical elements of the energy transition through circular innovation,” chief executive Ahmad Ghahreman said. “Kingston is where Cyclic began—and now it’s where we’re anchoring our commercial future.” Cyclic is also expanding internationally, with a recycling plant under construction in Mesa, Arizona, slated to open in early 2026. Global demand for rare earths is climbing rapidly, driven by the surge in clean energy and digital technologies. China, the dominant player in the rare earth supply chain, has used its control of exports as leverage in geopolitical disputes, including in response to US tariffs. While President Donald Trump announced on Wednesday a rare earth supply deal with Beijing, the search for secure and independent sources continues.

The co-founder of Strategy (formerly known as MicroStrategy), Michael Saylor, appeared on Bloomberg to assure crypto enthusiasts and Bitcoinists that “Winter is not coming back.” On Tuesday, 10 June 2025, Saylor told Bloomberg, “We’re past that phase; if Bitcoin’s not going to zero, it’s going to $1 million.” He cited US President Donald Trump’s pro-crypto stance as evidence to support his statements. “Paul Atkins has shown himself to be an enthusiastic believer of Bitcoin and digital assets,” he added. While speaking to Bloomberg, Saylor also highlighted that the growing number of public companies purchasing Bitcoin are buying “the entire natural supply.” Saylor pointed out that only $450 million worth of natural Bitcoins are available for sale every day. “The writing is on the wall. Bitcoin is moving higher,” he insisted. CNBC’s “Mad Money” host Jim Cramer took to X yesterday to say that the tech giant Apple’s stock buyback program “is not working right now.” Replying to him on the platform, true to his image, Saylor suggested, “Apple should buy Bitcoin.” DISCOVER: Best Meme Coin ICOs to Invest in 2025 Key Takeaways “The writing is on the wall. Bitcoin is moving higher,” insisted Saylor, to assure crypto enthusiasts and Bitcoinists that “Winter is not coming back.” With 582,000 BTC under control, Strategy’s purchase underscores its strong conviction in Bitcoin and belief that it will rally in the coming years. The post “If Bitcoin’s not going to zero, it’s going to $1 million,” Says Michael Saylor appeared first on 99Bitcoins.

The Euro is currently leading gains across the currency board following the weaker-than-expected US CPI release, nearing a break of last week's highs against the US Dollar. While the initial CPI reaction saw reversals in several assets, such as the Nasdaq briefly surpassing the 22,000 milestone before retreating, EUR/USD continues to consolidate at its highs. This occurs as some major banks, including the Royal Bank of Canada (RBC) and Bank of America, had previously indicated limited upside for the Euro, and may have been surprised by this morning's USD weakness. Further weighing on market sentiment, recent headlines suggest the US intends to maintain tariffs of up to 30% on Chinese goods, which has curbed the initial euphoria following this morning's data. Trump still mentioned that the "Relationship is Excellent" with the world's largest exporter. Adding to geopolitical confusion, Donald Trump stated in a New York Post podcast that he is much less confident in a deal with Iran, a comment that has added fuel to the fire, with US Oil still up by over 2.60% on the session. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Drilling by Canada’s Soma Gold (TSXV: SOMA) at its Cordero mine in central Colombia returned a highlight result of 7.5 grams per tonne gold over six metres. That intercept, from 176.6 metres depth in hole RVICDDH-25-040, also cut 10.2 grams per tonne silver, Soma said Wednesday in a statement. Another hole, RVICDDH-25-042, returned 6.7 grams gold and 9.9 grams silver over 2.6 metres from 169 metres downhole. The results from the so-called Venus Gap zone extend the dip of the vein by about 135 metres, the company said. Cordero is part of a 410-sq.-km property located next to Aris Mining’s (TSX: ARIS) Segovia deposit. “Drilling in the Venus Gap zone continues to return the broadest, high-grade intervals in the mine,” Chris Buchanan, the company’s vice president of exploration, said in the statement. “Extending this zone down dip adds resources to the mine plan and supports development of deeper levels of the Venus and Venus Gap veins.” Small mines Vancouver-based Soma also said its exploration team is evaluating numerous small-scale mines near the Machuca property, with drilling ongoing at the Colossa and Colossa 2 informal mines. Three high-priority gold anomalies close to informal mines were identified in the regional soil survey. Commercial production at Cordero, part of the company’s El Bagre gold mining complex, began in January 2023. Soma is targeting annual output of 25,000-30,000 oz. at Cordero over the 2025-2030 period, according to an investor presentation posted on the company’s website. Soma Gold fell 0.7% to C$1.35 in Toronto Wednesday morning, giving the company a market capitalization of about C$125 million. The stock has ranged from C$0.42 to $1.40 in the past year.

President Donald Trump announced on Wednesday that the US and China have reached a deal under which Beijing will supply magnets and rare-earth minerals, while American colleges and universities will once again admit Chinese students. “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!” Trump wrote on Truth Social. A White House official told Reuters the US will impose a 55% total tariff on imported Chinese goods, including a 10% baseline “reciprocal” tariff, a 20% levy related to fentanyl trafficking, and 25% from pre‑existing tariffs. China will respond with a 10% tariff on US imports. “FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!)” Trump added. He emphasized that both he and Chinese President Xi Jinping must formally approve the framework, which reflects recent London negotiations meant to revive the Geneva tariff truce from last month. Officials from both countries plan to finalize the agreement after outbound materials begin flowing. However, while the new terms restore supply lines and student exchanges, they leave unresolved core issues, including China’s trade surplus and broader structural imbalances. Between 2020 and 2023, China accounted for 70% of US rare earth imports, making it by far the country’s top supplier. Malaysia, Japan, and Estonia round out the top four. China produces around 90% of the world’s refined rare earths and is home to the largest capacity for separation and purification, giving it a chokehold on global supply chains. These elements are essential in military applications, electric motors, and next-gen electronics. Companies like Lockheed Martin, Tesla, and Apple rely on these materials in their core products.