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Rio Tinto (LSE/ASX: RIO) chief executive officer Stausholm was in Western Australia’s Pilbara region Friday, attending the opening of the company’s new Western Range iron ore mine. Stausholm said the opening of the $2 billion Western Range mine represented a new beginning following the scandal surrounding the company’s destruction of the culturally significant Juukan Gorge caves in 2020. It is also Rio’s first project to feature a co-designed social, cultural and heritage management plan with Traditional Owners. “I could not be more proud of seeing how we have worked in deep partnership with the Yinhawangka People,” Stausholm said at the event. “It’s a new way of working together, really taking the guidance from them on how we develop the mines of the future, applying new technology, applying our safe production system.” Western Range is a joint venture between Rio (54%) and China’s Baowu (46%) and comprised the construction of a primary crusher and 18km-long conveyer system to the existing Paraburdoo plant. The mine will produce up to 25 million tonnes per annum of iron ore and secures the future of the Paraburdoo hub for up to 20 years. Western Range is the first of $13 billion of replacement mines planned for Rio’s Pilbara iron ore business. The $1.8 billion Brockman Syncline 1 project was approved in March, while the Hope Downs 1 and West Angelas projects are progressing through the approvals phase. Last month, Fortescue (ASX: FMG) chairman Andrew Forrest warned the Pilbara was at risk of becoming a “wasteland” if iron ore miners didn’t decarbonize. “It is for us as companies to make sure that the Pilbara ore remains relevant,” Stausholm said. “And how do we do that? We do that in partnership, like you see today, with Baowu, working on how we can decarbonize the supply chain. If we find the right solutions – and we will – then the Pilbara will be the source for many, many decades.” Succession plan The opening comes after Rio announced the shock departure of Stausholm last month. Stausholm has disputed reports of a rift between him and chairman Dominic Barton, saying there was no “dis-alignment”. “It’s very important to say, we in the management team and the whole board is absolutely aligned around the values of Rio Tinto, about pursuing the four objectives, about our strategy and the strategic choices, and about the assessment of our performance, so there is no dis-alignment,” he told reporters. One of the major strategic changes during Stausholm’s tenure has been the move into the lithium sector. Stausholm said the board was “absolutely aligned” on lithium, describing it as a “next pillar” for Rio. “Think about it, some visionary people 50, 60 years ago said Rio Tinto should go into iron ore,” he said. Market focus shift? Much of the iron ore market’s attention has shifted from Australia’s Pilbara region the Simandou project in Guinea. The massive mine is set to begin exports in November and forecast to reshape global iron ore flows, but analyst say the launch of Western Range is a timely reminder of the Pilbara’s enduring importance. Predictions of its decline, made by some observers and politicians, seem premature. Rio Tinto plans to invest $13.3 billion in the Pilbara over the next five years. This capital will fund both maintenance of current operations and the development of new mines capable of delivering 130 million tonnes of annual output. That figure nearly mirrors Simandou’s planned production of 120 million tonnes per year by 2030, but at significantly lower cost and lower geopolitical risk. Rio awarded last week a $157 million contract to construction and mining firm NRW Holdings, a move widely seen as a precursor to formal board approval for the Hope Downs 2 and Bedded Hilltop projects. A final investment decision is expected as early as July. By comparison, Simandou’s development will require $23.2 billion, about 70% more than Rio’s Pilbara spend, for less output and in a jurisdiction fraught with political instability. The Pilbara’s established infrastructure (railways, ports, car dumpers, and shiploaders) offers a decisive advantage. Despite Australia’s rising labour costs and shifting industrial relations landscape, the region remains the world’s lowest-cost source of large-scale iron ore supply. Even with a leadership transition ahead, the financial case for staying the course is compelling. Rio’s $20 billion wave of Pilbara investment is unlikely to be reversed. The world’s second largest miner is not alone. BHP, Fortescue and Hancock Prospecting are also preparing to replace aging mines. Meanwhile, the push toward green iron, championed by Fortescue’s Andrew Forrest, adds another layer of opportunity. August 2026 will mark 60 years since the first shipment of iron ore left the Pilbara for Japan. It may have been built on the past, but the Pilbara looks set to shape the future.

Popular market analyst Ted Pillows has tipped Sui (SUI) for an impending price breakout. Notably, the prominent altcoin has recorded a steady price decline in the past month with an estimated loss of 17.18% within this period. However, Pillows notes the formation of a bullish pattern which indicates substantial market relief ahead. Related Reading: SUI Rally At Risk? Analysts Warn Of 30% Dip If This Level Doesn’t Hold SUI Gathers Momentum Ahead Of Showdown With Resistance In an X post on June 7, Pillows shares a positive insight into the SUI market despite a sustained downtrend throughout May and early June. The analyst notes that SUI appears to hit local bottom within the $2.8-$3.0 following a slight rebound in the past 48 hours. Interestingly, this recent price action could signal market reversal especially considering the formation of a bullish descending wedge pattern on the SUI daily chart. For context, the descending wedge is a classic bullish reversal pattern marked by two converging trend lines sloping downward as seen in the chart below. The price action within the wedge which typically consists of lower highs and lower lows but the decreasing slope of the lows signal a weakening bearish pressure. Considering the rebound from the $2.8 which represents the lower boundary of the descending wedge and the narrowing of both trend lines, Pillows postulates SUI is preparing for a major upside price breakout. However, the altcoin must overcome a crucial resistance at $3.5 price level which represents the upper boundary of the descending wedge pattern. Pillows explains that a successful daily price close above $3.5 is likely to trigger a robust buying pressure that could force a SUI market rally for the next 2-3 weeks leading to a new all-time high. Based on the analysis presented, initial price targets are set at $4.00 indicating an instant return to the peak price region in May. However, with Pillows’ analysis hinting at a new all-time high, investors should expect any potential price breakout to hit a minimum price target of $5.21 representing a 60.8% gain on present market prices. SUI Price Overview At the time of writing, SUI trades at $3.23 representing a 2.33% gain in the past day. However, weekly and monthly losses of 1.01% and 17.10%, respectively suggests the altcoin still has ground to make up. Nevertheless, SUI remains one of the best performing tokens of the present market cycle with potential star of the altseason considering its 211.11% in the last year.

Ethereum’s recent price action on the 4-hour chart has led to the formation of a classic Head and Shoulders pattern that opens up the possibility of a deeper correction. After a relatively stable period around the $2,500 zone, Ethereum broke below a neckline support level as last week drew to a close. This raises the question of whether a bearish continuation is already in motion for the Ethereum price or if bulls still have a shot at regaining momentum in the new week. Head & Shoulders Pattern Confirmed After Breakdown Below $2,480 The Head and Shoulders pattern, one of the most recognizable reversal formations in technical analysis, is now clearly visible on Ethereum’s 4-hour candlestick chart. This chart and the technical outlook were first shared on the TradingView platform by crypto analyst MelikaTrader94. The structure includes a left shoulder, a prominent head peaking above $2,700, and a right shoulder that topped near $2,650. The neckline, drawn around $2,480, was breached during Ethereum’s recent pullback to $2,380. This, in turn, shifted the short-term outlook toward the bearish side. After the break, Ethereum attempted to reclaim lost ground and is currently retesting the neckline area. This retest around $2,500 is significant, as a failure to push back above this level significantly would likely validate the bearish setup and cause the Ethereum price to reverse downwards toward the next support zone. According to the outlook from analyst MelikaTrader94, the price target from this Head and Shoulders breakdown before any notable rebound upward can occur lies between $2,200 and $2,250. Chart Image From TradingView: MelikaTrader94 Bulls Must Reclaim $2,650 To Invalidate Bearish Setup A confluence of factors supports the $2,200 region as a likely landing zone. Not only is this level consistent with the measured move of the Head and Shoulders pattern, but it also aligns with an order block on May 9 during Ethereum’s rally above $2,000 at the time. This adds further technical relevance to the $2,200 to $2,250 range acting as a support zone. However, the situation is not fully bearish yet. The path forward is clear but narrow for Ethereum bulls. The first step to invalidate the bearish setup is to reclaim the neckline around $2,500 decisively. Beyond that, breaking back above the right shoulder level around $2,650 would invalidate the Head and Shoulders pattern, and another pattern will most likely come into play. A successful bullish reclaim would not only nullify the bearish pattern but could also revive sentiment for another retest of the $2,700 to $2,800 zone, which corresponds to the peak of the head in the recently formed pattern. Until such a recovery occurs, the Ethereum price can quickly reverse downwards at any time. At the time of writing, Ethereum is trading at $2,510. Featured image from Unsplash, chart from TradingView

The Financial Conduct Authority (FCA) of the UK is all set to lift its ban on cryptocurrency exchange-traded notes (ETNs) for retail investors. The FCA had banned ETNs in January 2021, citing their volatility and complexity for retail investors. However, because we’re seeing increasing warmth towards cryptocurrency across the globe, the UK doesn’t want to be left behind. Keep reading to find out more about the UK’s decision regarding ETNs, how the US also has major pro-crypto legislation in the works, and what the best crypto to buy now is in light of these developments. UK & UK Embrace Crypto For those unaware, an ETN is a debt security instrument offered by recognized entities. Its value is tied to an underlying asset, which, in the case of crypto, is a specific coin. As the price of the underlying asset goes up, the price of the ETN will also increase, and vice versa. It’s worth noting that crypto ownership in the UK has increased from 18% in 2024 to 24% in 2025. This is more than that of the US. Naturally, a growth like this calls for a comprehensive regulatory design to regulate the ownership and use of digital assets in the country. Meanwhile, in the US, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is expected to go for a floor vote soon enough. The GENIUS Act aims to regulate various aspects of stablecoins, such as permitted issuers, transparency, consumer protection, federal and state-level oversight authority, and legal classification. All in all, a friendlier regulatory environment will lead to a more thriving crypto market. Bitcoin recently made an all-time high of $112K, and with positive and proactive legislative support, it might soon hit $150K, too. To hop on the crypto train and make the most of its momentum, consider investing in the following altcoins. 1. Snorter Token ($SNORT) – Best Crypto to Buy Now, the Fastest and Most Affordable Trading Bot Increased crypto adoption will directly impact the growth of meme coins, which is already among the most profitable niches of the crypto space. As a result, Snorter Token could see massive growth in the coming weeks. It’s a Telegram-native trading bot designed to snipe (buy) the best meme coins as soon as they’re launched using a contact address or pool ID. This way, it will help you outsmart the bots and whales circling like sharks in the crypto market. Snorter Bot is mighty secure, too. It’s got honeypot and rugpull detection, mint trap detection, real-time blacklist scans, and freeze alerts. Other useful features include copy-trading tools, portfolio tracking, and the lowest trading fees (just 0.85%) of all competitors if you hold $SNORT. You can become an early investor in this awesome meme coin with real utility by buying into its presale. The Snorter Token presale is fairly new but has still managed to raise over $575K. Each token is currently priced at just $0.0947. 2. BTC Bull Token ($BTCBULL) – Best Bitcoin-Themed Meme Coin Offering Free $BTC Airdrops BTC Bull Token ($BTCBULL) will help you directly benefit from Bitcoin’s upcoming bull run, but at a fraction of the cost. It’ll do so in two ways: First, you’ll profit from a substantial increase in $BTCBULL’s price. According to our predictions, BTC Bull Token can reach $0.0096 by 2026 – a 3.7x jump from its current price of $0.00255. Second, you’ll benefit from BTC Bull Token’s free Bitcoin airdrops. A striking feature, the aforementioned $BTC airdrops will take place when Bitcoin reaches $150K and $200K for the very first time. However, only those who hold their $BTCBULL tokens in Best Wallet and participate in the airdrop events on social media will be eligible for free $BTC. Even better for $BTCBULL owners, the project will regularly shave off a part of the token supply. This will increase the crypto’s demand, which would then, in all likelihood, crank up its price. Buy BTC Bull Token now for just $0.00255 each. The project has emerged as one of the best crypto presales, with nearly $7M in early investor funding. 3. KoKoK The Roach ($KOKOK) – Viral New Meme Coin with Massive Potential KoKoK The Roach ($KOKOK) is a new meme coin that launched towards the end of May but has risen to become a force to reckon with in the entire crypto space. $KOKOK is up over 310% since its inception, including a chunky 28% gain over just the past seven days. This fascinating ‘disgusting’ meme coin is proof that degens have enough love to share with other animals, too, besides cute dogs, cats, and frogs. ‘The King of the Drain Pipes’ might be a fitting description for $KOKOK, but the fact remains that it could soon surge past its all-time high of around $0.20 and become one of the greatest meme coins of this year. It’s currently trading at $0.1724, with a market capitalization of $35M and a trading volume of $1.13M (up 110% over the past 24 hours). Increasing Crypto Adoption Notwithstanding, DYOR Is Necessary Despite the market’s increasing bullish outlook on the back of pro-crypto regulatory reforms, there’s no guaranteeing any returns on specific coins. The crypto market is highly unpredictable and volatile, so kindly do your own research before investing. Our articles are purely informational, not financial advice.

Ethereum is showing resilience amid the recent wave of market volatility and uncertainty. While the broader crypto market has pulled back over the past few weeks, ETH continues to hold firm above the $2,500 level — a key psychological and technical support zone. This strength has caught the attention of traders and analysts who see Ethereum’s current price action as a potential launchpad for a move into higher territory. Despite the retracement across major altcoins, Ethereum remains structurally intact, with bulls defending the lower boundary of its current range. The lack of panic-selling at these levels suggests growing confidence in ETH’s long-term trajectory, even as macroeconomic pressures — including tighter liquidity and geopolitical uncertainty — continue to weigh on sentiment. Top analyst Ted Pillows recently shared a technical update highlighting that ETH is still trading within a well-defined range. According to his view, Ethereum’s ability to consolidate without losing critical support is a sign of underlying strength. A breakout above the range high could trigger renewed momentum toward the $2,800–$3,000 region, while a breakdown below $2,500 would invalidate the current setup. Ethereum Approaches Pivotal Zone Amid Uncertainty The crypto market has been navigating a volatile environment, and Ethereum is no exception. However, despite the turbulence, ETH has managed to maintain its footing above $2,500 — a key support level that continues to act as a buffer against deeper downside. With Bitcoin holding strong and altcoins preparing for potential breakout moves, the coming weeks could be decisive for Ethereum’s next major trend. ETH currently trades 48% below its all-time high, but price action suggests that bulls are building momentum. Ethereum has absorbed recent volatility well, even as broader market sentiment remains shaken by rising geopolitical tensions, most notably, the growing conflict between Elon Musk and US President Donald Trump. While these headlines have added uncertainty, Ethereum’s ability to stay range-bound reflects growing confidence among investors. Pillows notes that Ethereum is still trading within a well-defined range, and the structure remains intact. According to his analysis, reclaiming the $2,800 level would be a key breakout trigger, potentially opening the door for a fast rally to $4,000. Until then, ETH remains in consolidation mode — but with Bitcoin showing leadership and the market entering a pivotal phase, Ethereum could be on the verge of catching up. If bulls can maintain control and push through resistance, ETH could finally break out of its range and reenter a bullish price discovery phase. But if resistance holds, traders may see another leg of consolidation. Either way, Ethereum is entering a key window where market direction will likely be defined, and how ETH behaves around the $2,800 mark could determine the altcoin outlook for the rest of the summer. ETH Weekly Chart Shows Momentum Building Near Resistance Ethereum is holding steady near $2,500 as seen on the weekly chart, showing promising signs of strength despite recent market-wide volatility. After bouncing sharply from sub-$1,800 levels in May, ETH is now consolidating just below the $2,707 resistance — the 50-week simple moving average (SMA). This level coincides with the upper boundary of the current range and remains the key line bulls need to reclaim to unlock further upside. ETH is currently trading above its 34-week EMA ($2,501) and the 200-week SMA ($2,450), both of which are acting as dynamic support. Holding these levels reinforces the idea that buyers are stepping in on dips, providing a strong base for potential continuation. However, the price is still capped by the 100-week SMA at $2,610, making the $2,700–$2,800 region a critical resistance zone. A weekly close above this cluster of moving averages could trigger a breakout and pave the way toward $3,000 and beyond. Volume has remained elevated during this consolidation, suggesting sustained interest from both traders and investors. Featured image from Dall-E, chart from TradingView

Technical analysis of Dogecoin’s price action shows that Dogecoin bulls are currently working hard to register a break above the $0.2 resistance price level. However, beyond the immediate battle at the $0.20 resistance, a broader technical perspective presents a far more interesting possibility of Dogecoin reaching new all-time highs very soon. Specifically, the technical analysis of Dogecoin’s monthly candlestick timeframe chart indicates that its price is currently in the formation of a rally between June and July 2025. Analyst Spots Recurring 3-Month Uptick, 5-Month Pullback Formation A technical analysis of Dogecoin’s monthly candlestick chart, first shared by crypto analyst Trader Tardigrade on the social media platform X, identifies a fascinating recurring pattern for the meme coin’s price. According to the analyst, Dogecoin has now completed two price cycles since late 2023, each consisting of a 3-month pump followed by a 5-month pullback. This rhythmic pattern first played out between December 2023 and August 2024. Dogecoin experienced a strong price surge from December to February, followed by a prolonged pullback that lasted from March to July. It followed a similar trajectory between August 2024 up until recently in May 2025, where three months of bullish momentum were followed by five months of bearish price action. The last monthly candlestick helped to confirm this setup, especially after May ended with a positive 11.7% close from its open price. As such, the next outlook is the continuation of this rally in June 2025. Each of the previous 3-month rallies has produced notable upside, with the most recent cycle in 2024 pushing Dogecoin’s price from below $0.08 to a multi-year high around $0.48 in just three months. If this cyclical behavior continues, Dogecoin could be gearing up for a comparable bullish leg in June and July, which would eventually cause it to break into new all-time highs. Chart Image From X: Trader Tardigrade Dogecoin To Repeat History With June/July Rally The notion that history could repeat itself is not new to crypto traders, but in Dogecoin’s case, the visual alignment of price action over time is hard to ignore. Keeping this possibility in mind, a repeat of the previous rally in Q4 2024 will be enough to send the Dogecoin price above resistance levels at $0.22, $0.3, and finally at $0.48. Notably, crypto analyst Trader Tardigrade projected a run-up to $0.3 in June. A successful breach above this level could confirm the start of the next bullish cycle for Dogecoin, and Trader Tardigrade projected a peak price above $0.75 in July 2025. At the time of writing, Dogecoin is trading at $0.184, with a price increase of 0.5% in the past 24 hours. Featured image from Unsplash, chart from TradingView

Bitcoin has faced renewed volatility since late May, with the market retracing from recent highs and injecting a fresh dose of uncertainty across the board. While price action has cooled, BTC continues to hold above key levels that bulls are watching closely. The broader sentiment remains fragile, and many investors are on edge, unsure if this is a healthy pause or a setup for deeper downside. Analysts are calling for a decisive move above the all-time high to confirm trend continuation, but so far, momentum remains limited. The risk of a further decline still hangs over the market, especially with macro headwinds unresolved and liquidity tight. Top analyst Daan shared a timely technical update, highlighting that both Bitcoin and Ethereum have tested their respective 4-hour 200MA and EMA and bounced. These moving averages are closely watched for short-term trend shifts. The fact that both assets respected them as support could be a subtle but important signal. Still, this bounce needs follow-through. Without a strong push higher, traders may lose conviction, and the window for reclaiming bullish momentum could narrow quickly in the days ahead. Bitcoin Outperforms But Market Risks Loom Bitcoin continues to trade in a tight range just below its all-time high, struggling to break out with conviction but showing clear resilience. Despite repeated attempts from bears, BTC has held above the critical $100,000 psychological level — a key sign of strength as many altcoins lag behind or lose momentum. While some traders remain cautious, Bitcoin’s relative outperformance is beginning to stand out, hinting at the possibility of a decisive move brewing beneath the surface. This strength, however, comes amid rising uncertainty in the broader macro environment. The US economy is entering a more fragile phase, with tightening credit conditions, stubborn inflation, and weakening labor data adding pressure. These developments raise the stakes for risk assets, including Bitcoin, which has historically thrived during expansionary periods but often struggles when liquidity tightens. Daan shared a critical technical update that could help map Bitcoin’s short- and mid-term direction. According to his analysis, both BTC and ETH recently tested their respective 4-hour 200 moving averages (MA) and exponential moving averages (EMA), and successfully bounced from those levels. These indicators are often seen as key dynamic supports during trend formation. If price continues to hold above them, bulls remain in control. But if these levels give way, momentum could flip quickly, opening the door to deeper retracements. For now, the structure still favors the bulls, but the margin for error is shrinking. With Bitcoin holding steady while macro conditions wobble, the next move could set the tone for the rest of the summer. Traders and long-term holders alike should keep an eye on how BTC reacts to these key support zones in the coming days. Bulls Reclaim Key Levels Bitcoin is showing signs of recovery after bouncing from the $103,600 support zone, as seen in the 4-hour chart. The recent drop to this level was met with strong buying interest, triggering a swift rebound. Price is now consolidating around $105,600, having reclaimed both the 200 EMA ($104,924) and the 200 SMA ($104,816), which had previously acted as dynamic resistance during the pullback. This reclaim is a notable technical development and suggests bulls are regaining short-term control. Volume spikes during the bounce add weight to the move, while shorter-term moving averages like the 34 EMA and 50 SMA are now sloping upward, further supporting the bullish case. Still, BTC must break decisively above $106,600 — a recent lower high — to confirm a shift in trend structure. Above that, the $109,300 resistance stands as the final barrier before retesting all-time highs. On the downside, holding $103,600 remains critical. Losing that level would invalidate the current bounce and open the door to a deeper correction below $100,000. Featured image from Dall-E, chart from TradingView

Bitcoin saw a sharp price dip on Thursday amidst a public fallout between US President Donald Trump and the world’s richest man Elon Musk. The premier cryptocurrency, which had traded steadily within the $104,000–$106,000 range throughout the week, plunged to below $101,000 as tensions escalated between the two influential figures who attacked each other via their personally owned social media platforms i.e. X (formerly Twitter) and Truth Social. Since then, Bitcoin has shown some market resilience climbing back to around $104,000. With another consolidation developing, market analyst Crypto Daan has highlighted the price levels that are critical to the next price breakout. Beyond $106K Or Below $100K – What’s Next For Bitcoin? The month of May proved largely bullish for Bitcoin as the digital asset surged from around $95,000 to establish a new all-time high near $112,000 marking the resumption of the larger crypto bull market. However, Bitcoin has noted a significant price correction since reaching this peak with market prices pegged around $104,000 on May 31. As seen in the first week of June, Bitcoin had hovered around $106,000 before its most recent price slump on Thursday. Due to this price action, Daan Crypto notes the digital asset is now trading within a price range of $100,000-$106,000, where it comfortably sits at the mid-range around $104,000. The analyst notes that if Bitcoin returns break below the lower range boundary at $100,000, the ongoing price correction could extend for 1-2 weeks. Going by BTC’s stairwell ascent in the past month, potential market support in such a bearish case would lie around $95,000 and $85,000. On the other hand, if the market bulls can force a return above the monthly high of $106,000, Daan Crypto explains that such development would indicate the market correction is over, and Bitcoin may be headed for another price discovery with potential initial targets of around $120,000. BTC Price Overview At the time of writing, Bitcoin trades at $104,650 following a price gain of 2.98% in the past day. Using larger time frames , the premier cryptocurrency is up by 1.12% on its weekly chart and 7.49% on the monthly chart indicating a strong bullish control of the market. Interestingly, the Relative Strength Index on the daily chart stands at 51.53 facing upward which supports the notion that Bitcoin’s correction might be over with price eyeing a return to the overbought zone above 70. With a market cap of $2.07 trillion, Bitcoin continues to rank as the world’s largest cryptocurrency and fifth largest asset in the world.

CRYPTOWZRD noted in a recent update on X that Chainlink ended the session with a bullish close, hinting at potential further gains ahead. However, the analyst emphasized that Bitcoin will ultimately dictate the move. Keeping a close eye on the intraday chart, the expert mentioned that an early pullback could present a scalp opportunity, as long as Bitcoin aligns with the bullish outlook. Breakout Likely With Strong Daily Candles Breaking down his latest analysis, the trader explained that LINK’s daily candle officially closed bullish, marking a key technical point in the current trend. Meanwhile, LINKBTC ended the session on a positive note, which adds weight to the bullish outlook for LINK in the short term. However, the analyst emphasized that more bullish daily closes on LINKBTC are needed to confirm momentum. A continuation of strength could lead to an impulsive breakout above the daily candle’s lower high trendline, igniting the next leg upward. A decisive move above the 0.000140 BTC resistance zone is expected to accelerate price action for LINK, giving bulls a clear signal to push higher. If momentum continues to build, LINK could rally toward the $16 resistance level, marking a major target for the current setup. For now, $12.50 remains a key support level on the daily timeframe and will act as a cushion if bearish pressure reemerges. Looking ahead, the analyst pointed out that Bitcoin and Bitcoin Dominance will remain the primary market drivers for Chainlink heading into the weekend. While maintaining a rational outlook, CRYPTOWZRD plans to monitor LINK’s intraday chart closely for any developing setups. Awaiting Chainlink Next Trade Setup In conclusion, CRYPTOWZRD emphasized that LINK’s intraday chart is showing signs of a bullish recovery, closely aligned with Bitcoin’s recent rebound. He expressed optimism that further upside is likely if current conditions persist, particularly if Bitcoin maintains its strength. Despite the encouraging signs, CRYPTOWZRD noted that a temporary bearish pullback would be both natural and healthy within the current market context. Pullbacks often reset market conditions, providing better structure for stronger continuation patterns. He believes such a retracement could offer a favorable early entry point for long positions, especially for short-term or intraday traders looking to capitalize on the volatility. As the market continues to evolve, CRYPTOWZRD advises traders to wait for clear confirmation of the next trade setup before taking action. His statement emphasized that strategic patience will be key in identifying the most rewarding opportunities. For now, traders should track price behavior closely and prepare to act swiftly when the next valid entry signal presents itself.

The Bitcoin market was recently subject to a significant price dip as a public feud between US President Donald Trump and the world’s richest man, Elon Musk, on Thursday negatively impacted the US financial markets. During this period, the premier cryptocurrency crashed by an estimated 5% from $106,000 to trade below $101,000. Interestingly, despite the short-term volatility, several key technical indicators now point to a potentially bullish setup. In fact, this latest pullback appears to complete a series of signals that historically precede major price rallies. Bitcoin Set For Price Surge, First Target At $130,000 In an X post on June 6, a market expert with X username CrypFlow shares a bullish Bitcoin prediction amidst an ongoing price correction. Aside from sharp price decline in the past week, the BTC market has witnessed a steady price correction since the premier cryptocurrency achieved a new-all time high of $111,970 on May 22. However, CrypFlow states that this price retracement alongside a host of other technical indicators suggest that Bitcoin is setting to repeat its price rally from Q4 2024. The first indicator observed by the analyst in the chart above is the golden cross which occurs when the 50-day simple moving average (50SMA) crosses above the 200-day simple moving average (200SMA) in early June 2025. The golden cross is a common bullish indicator that signals a shift in market momentum and was last seen in November 2024. Furthermore, there is a Bitcoin price breakout above a long-standing purple downward trendline that originated in December 2024. This breakout also mirrors another move seen in early November 2024, when BTC breached the descending resistance that began in March 2024. The ongoing price correction represents the final indicator as Bitcoin also suffered an estimated 10% price fall in November falling from $74,500 to $68,500 before initially an explosive price rally. CrypFlow’s analysis suggests that if Bitcoin is repeating its price rally from Q4 2024, the premier cryptocurrency could produce a 62% price gain translating into potential targets around $170,000. However, the analyst has set a more conservative initial price target of $130,000, representing a 25% gain from current market levels. Bitcoin Price Prediction At press time, Bitcoin trades at $104,850 after a 2.57% gain in the past day. Meanwhile, the asset’s daily trading volume has dropped by 19.59%. According to data from prediction site Coincodex, the general BTC market sentiment remains bullish despite a Fear & Greed Index of 45 which indicates Fear. The Coincodex analyst team are backing this market’s positivity with a price projection of $134,074 in five days and $155,864 in three months.

The story has been somewhat the same for the price of Bitcoin over the past week, drifting further from its recently-notched all-time high of $111,814. On Friday, June 6, the premier cryptocurrency fell towards the $101,000 level, reflecting an uptick in the market volatility over the past few days. While the Bitcoin price has quickly recovered from this sudden downturn, there is still real concern about the market leader’s performance since reaching its record-high value. However, a new indicator suggests that the price of BTC might still have some time to run up to a new high. Analyst Predicts Four Months Of Opportunity For BTC In a recent post on the X platform, crypto expert Joao Wedson revealed that there might still be some degree of opportunity in the Bitcoin market. This observation is based on a model, which was accurate in predicting past all-time high prices for the world’s largest cryptocurrency by market capitalization. This revelation is based on the Max Intersect SMA Model (the blue line), which has accurately identified the tops of past Bitcoin cycles. According to Wedson’s post, this cycle top prediction model suggests that the price of BTC could still have around four months of upward growth potential — regardless of the volatility and market shakeout. As seen in the chart above, the price of Bitcoin reaches its current cycle peak whenever the Max Intersect SMA (simple moving average) hits the previous cycle top. In the 2021 cycle, the top prediction model hit the 2018 high of around $19,000 in November 2021, culminating in a then-all-time high of $69,000. Hence, when this Max Intersect SMA hits exactly $69,000 — the price top in the last cycle, that will represent the peak of this current cycle. Wedson also asserted that this model is pretty reliable, as it is backed by 200 tested algorithms. With this top prediction model still a bit off $69,000, the Bitcoin price might still be some months away from its peak. Bitcoin Price At A Glance As mentioned earlier, the price of BTC seems to be struggling after recently hitting its current all-time high above the $110,000 mark. This week’s performance must have tested investors’ patience as the flagship cryptocurrency mostly traded within a consolidation range. According to data from CoinGecko, the BTC price is up by a mere 0.2% in the last seven days. As of this writing, Bitcoin is valued at around $104,400, reflecting an over 2% price increase in the past 24 hours.

The Bitcoin price has continued to trade sideways since hitting a new all-time high (ATH) of $111,900 earlier in May. Amid the current price action, crypto analyst Decode has provided insights into whether the leading crypto will rally to $120,000 or drop below $100,000 next. Analyst Reveals What’s Next For The Bitcoin Price In an X post, Decode shared an accompanying chart in which he made an ABC wave analysis of the current Bitcoin price action. Based on his analysis, the leading crypto is expected to drop below $100,000 before it rallies to a new ATH of $120,000. The chart showed that BTC could fall to as low as $96,500 on the Wave B corrective move. This drop to $96,500 is expected to happen this month. Once that is done, Decode predicts that the Bitcoin price could rally above $120,500 before the end of July. This will mark the Wave C impulsive move to the upside. This aligns with veteran trader Peter Brandt’s prediction that BTC could reach as high as $150,000 by late summer. However, crypto analyst KillaXBT has predicted that the Bitcoin price could hit the $120,000 target by mid-June. This coincides with the June FOMC meeting, which is scheduled for June 17 and 18. A Fed rate cut could serve as the catalyst for such a parabolic rally from the current BTC price level. According to CME FedWatch data, there is a 97.4% chance that the Fed would keep interest rates unchanged. As such, market participants aren’t expecting a rate cut, which is why the Bitcoin price could pump massively if Jerome Powell and the FOMC were to surprise everyone. Moreover, US President Donald Trump yesterday urged the Fed to cut rates by a full point. A Breakout Might Be On The Cards In an X post, crypto analyst Titan of Crypto suggested that a breakout could be imminent for the Bitcoin price. He noted that BTC is progressing inside a 4-hour falling wedge, which indicates a bullish reversal pattern. If confirmed, the analyst stated that the breakout could target the $107,500 and $109,500 zones, which are the Fibonacci confluence areas. Crypto analyst Kevin Capital highlighted the solid V-shape recovery for the Bitcoin price after the leading crypto dropped to as low as $100,000 on May 5. However, the analyst noted that BTC’s rebound back to the $105,000 zone won’t matter until it breaks above the $106,800 level. The leading crypto must also show actual follow-through with 3-day to 1-week closes to support a breakout. At the time of writing, the Bitcoin price is trading at around $105,000. Up over 2% in the last 24 hours, according to data from CoinMarketCap.

The Bitcoin price has not had quite the same spark it did at the beginning of the last month so far in June. The premier cryptocurrency has somewhat struggled to break out of a consolidation range since reaching a new all-time high in the month of May. The Bitcoin price recently succumbed to bearish pressure, falling to around $101,000 on Friday, June 6. While the market leader has enjoyed some resurgence to begin the weekend, a prominent blockchain firm has now identified significant levels in the event of a return to the $100,000 level in the coming days. Here Are The Next Support Levels For BTC In a June 6 post on the social media platform X, crypto analytics firm Sentora (previously known as IntoTheBlock) revealed an interesting on-chain perspective on the price of Bitcoin and its latest dip toward $100,000. According to the intelligence platform, there are some significant levels lying just beneath the six-figure valuation threshold. This analysis is based on the average cost basis of several Bitcoin investors and the distribution of the BTC supply around the current price. For context, cost-basis analysis basically evaluates the capacity of a price level to act as support or resistance, depending on the volume of crypto last acquired by investors at this level. As observed in the chart below, the size of the dots directly corresponds with the quantity of BTC purchased within each price bracket and the region’s capacity to act as support or resistance. This implies that the larger the dot, the higher the number of coins purchased, and the stronger the support or resistance level; the green dots are support (as they are usually below the current price), while the red dots serve as resistance (as they are above the asset price). According to data by Sentora, the Bitcoin price seems to have major support within the $95,000 – $99.000 region due to heavy accumulation by investors. This price zone would serve as an on-chain cushion for the Bitcoin price, as investors with their cost bases around the level are likely to defend their positions by acquiring more coins if the price falls toward the $95,000 – $99,000 zone. Sentora mentioned that if the bulls do defend this support level, the Bitcoin price could be in for an extended rally. On the flip side, the on-chain firm asked investors to expect a surge in volatility if this support level fails to hold. Bitcoin Price At A Glance As of this writing, the price of BTC sits just above $104,400, reflecting an almost 3% increase in the past 24 hours.

XRP is currently showing signs of vulnerability as its recent price action is becoming increasingly bearish. After attempting to reclaim upside momentum above $ 2.60 in May, the cryptocurrency has struggled to maintain this run, and its price action over the past few days has brought it close to losing the $2.10 price level. Notably, the price action has resulted in the formation of a head and shoulders pattern on the daily candlestick chart. This might be the final straw that finally sends the XRP price plummeting below $2. XRP Breaks Head And Shoulders Neckline As identified by a crypto analyst on the social media platform X, XRP has now printed a classic head and shoulders formation, with clearly defined symmetry between the left shoulder, head, and right shoulder. The head and shoulders formation began taking shape in late April, when the price climbed to $2.26 to become the left shoulder of the pattern. In early to mid-May, XRP surged above $2.60 to create the head of the formation and what appeared at the time to be a resumption of strong bullish momentum. The rally lost steam soon after reaching that May peak, and the price began to retreat once again. By June 3, XRP made another attempt to push higher, reaching $2.27 in what is the formation of the right shoulder. However, this push wasn’t enough, and the ensuing price action has seen sellers gradually fighting for control. The head and shoulders pattern, which is often associated with trend reversals, became more concerning once XRP broke below the neckline around the $2.18 level to reach as low as $2.07 on July 6. Interestingly, the breakdown below the neckline was accompanied by increased volume, which provided additional confirmation of the bearish signal. EMA Rejections For XRP: What’s Next? Now that XRP has broken beneath the neckline, the $2.18 to $2.20 zone is beginning to flip into a firm resistance barrier for any attempt at recovery. The daily candlestick chart shows XRP continuing to trade below both the 9-day EMA and the 50-day SMA, which currently stand at $2.1877 and $2.2649 respectively. Despite a modest recovery over the past 24 hours, XRP has repeatedly failed to break back above the 9-day EMA since the neckline breakdown, showing persistent weakness in the short-term structure. As long as XRP is trapped beneath the neckline and the EMA/SMA resistance cluster, the prevailing structure continues to favor a downward extension. Based on the head and shoulders setup, a measured move from the neckline breakdown projects a decline toward the $1.85 to $1.80 range. At the time of writing, XRP now finds itself trading at the neckline resistance again at $2.18 after a 2.6% increase in the past 24 hours from $2.13. However, the strength of this bounce is questionable, as it has occurred alongside a sharp 48.14% drop in trading volume. The next 24 hours will be important, as price behavior around the $2.18 to $2.20 range could determine whether XRP resumes its descent and break below $2. Featured image from Unsplash, chart from TradingView

Solana (SOL) is showing resilience amid broader market weakness, as volatility shakes crypto assets across the board. After a sharp retrace alongside Bitcoin and Ethereum, Solana is stabilizing above key demand levels, sparking cautious optimism among investors. Many are eyeing this zone as a potential launchpad for the next leg up, especially as the market seeks to recover and regain bullish momentum. Despite recent uncertainty, sentiment around Solana remains constructive. Analysts point to strong structural support and a history of sharp rebounds from similar technical setups. Among them, top crypto analyst Ali Martinez recently shared a key signal that has caught the attention of traders: the TD Sequential indicator has flashed a buy signal for Solana on the daily timeframe. Historically, this signal has preceded notable price rallies, particularly when it aligns with strong support zones. With Solana holding firm and broader sentiment gradually improving, bulls are watching closely for a push into higher supply zones. If confirmed, a breakout from this range could send SOL toward new short-term highs. The coming days will be critical in determining whether Solana can sustain this momentum and lead the next altcoin rally. Solana Tests Support As TD Sequential Signals Rebound Solana is holding a critical support zone near $145 after shedding more than 20% of its value since late May. The correction has brought SOL into a key demand area, where bulls appear to be defending the level with strength. Despite attempts to reclaim $160, the altcoin has faced persistent resistance, with fading momentum and rising macro risks clouding short-term price action. Market-wide conditions haven’t helped either. Both Bitcoin and Ethereum have stalled below key resistance zones, failing to spark a broader rally in altcoins. This hesitation has intensified uncertainty, with some analysts calling for a deeper retracement in SOL if market leaders continue to slide. However, others remain optimistic that Solana could soon turn the tide. A key signal for Solana has emerged, with analyst Martinez reporting that the TD Sequential indicator printed a buy signal on the daily chart. Historically, this indicator has been a reliable precursor to significant local bottoms and bullish reversals, particularly when seen near strong support levels. With SOL recently experiencing a selloff and now stabilizing, this signal underscores the growing bullish potential. For now, Solana’s ability to hold above $145 will be key. A bounce from this level, combined with improving sentiment across large-cap assets, could trigger a fresh push toward $160 and beyond. If confirmed, such a move would signal that SOL is regaining strength and ready to retest higher resistance levels in the weeks ahead. SOL Retests Support After Prolonged Correction Solana (SOL) is trading at $148.44 after attempting a modest rebound from its recent local low near $145. The daily chart shows that SOL has lost momentum since peaking above $180 in late May, marking a 20% correction. Price is now holding just above the 100-day moving average (144.68), a key technical level that previously acted as support during consolidation phases. The 50-day and 34-day moving averages are now trending downward, with the 50-day SMA around $159.33 and the 34-day EMA near $159.35 — both acting as dynamic resistance. Meanwhile, the 200-day SMA remains higher at $177.49, reinforcing the presence of a strong overhead supply zone between $160 and $180. Despite the bearish pressure, volume has remained relatively muted during the recent drop, suggesting that panic selling hasn’t taken over yet. If SOL manages to hold above the $144–$145 region, this could form the base for a rebound, especially if broader market sentiment improves. A daily close back above the 34-EMA could open the door for a recovery toward $160. However, a breakdown below $144 could trigger further downside toward the March lows. For now, SOL remains at a technical crossroads, with short-term direction hinging on the next few candles. Featured image from Dall-E, chart from TradingView

Bitcoin (BTC) is showing signs of repeating a historic Golden Cross pattern that led to a long-term parabolic run. While the cryptocurrency’s recent pullback near the $100,000 region may have alarmed the crypto market, analysts suggest that this move is part of a broader trend that could push BTC to its next price high. Golden Cross Formation Pits Bitcoin At $150,000 Bitcoin has once again flashed a classic bullish signal, the Golden Cross, prompting renewed optimism for a major price rally in the coming months. According to a technical analysis by ‘Chain Mind,’ a crypto analyst on X (formerly Twitter), Bitcoin may be on the verge of an explosive surge to $150,000 if this historical pattern plays out as expected. The last time BTC formed this pattern was in November 2024. Immediately after the cross’s completion, Bitcoin’s price experienced a 10% correction, followed by a sharp 62% rally over the next several weeks. This behavior established a clear trend of a short-term shake-out preceding a strong bullish continuation. Now, in early June 2025, Bitcoin has printed another Golden Cross on its chart, and so far, price action appears to be closely mirroring the one from the previous year. Notably, Bitcoin has dropped 8%, suggesting a smaller but comparable corrective phase to the one observed in 2024. Technical projections from Chain Minds now show a possible 51% rally on the horizon from the post-correction bottom. This would potentially place Bitcoin in the $150,000 range by the end of 2025. Notably, Chain Mind’s analysis identifies Bitcoin’s recent crash toward the $100,000 region as a potential local bottom, with the Golden Cross acting as the catalyst for the next leg of the bull run. If the current historical pattern holds, Bitcoin may be entering a sustained period of upward movement to new all-time highs. With the cryptocurrency already recovering from the brief downturn and now trading at $105,050, a 51% increase would potentially place its price at approximately $158,625 once the historical Golden Cross pattern is fully completed. Bitcoin Uptrend At Risk If $100,000 Level Is Lost Despite the broader bullish sentiment surrounding Bitcoin, its price is currently navigating a critical trading range between $100,000 and $112,049, which analysts suggest is crucial for maintaining its current optimistic outlook. Crypto Fella, the market expert responsible for this analysis, has shown via a chart that BTC is consolidating within a rectangular band, reflecting a pause in momentum after a sharp upward move earlier in the quarter. The crypto analyst has boldly asserted that as long as Bitcoin continues to trade within the range above, there should be little cause for concern for another major crash. However, if the $100,000 mark fails to hold, the next likely target for downside movement is between $97,000 and $95,000, representing a 9.56% and 7.66% decline from current levels, respectively.

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

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

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

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

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

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

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

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

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