Bitcoin Returns to US$105,000 After IF Powell's Speech 🎉🎉🎉
📢Bitcoin surged past US$105,000 on Monday, driven by rising hopes that the Federal Reserve may be preparing to change its monetary policy stance later this year.
➡️Jerome Powell's speech hinted at a potential shift in the Fed's monetary policy, fueling the Bitcoin rally above US$105,000.
➡️the speech of Federal Reserve Chair Jerome Powell at the 75th anniversary conference of the International Finance Division (IF). In his speech, Powell reiterated the crucial role of data and global modeling in shaping US monetary policy.
✴️“Understanding this complex and interconnected network is essential for us to anticipate the path of employment and inflation,”✴️ said Powell.
⏩Although Powell did not mention easing or interest rate cuts, he emphasized that IF research is central to the “risk and uncertainty assessment that FOMC committee participants receive before each meeting.”
🔥interest rate cuts could drive Bitcoin growth. However, it is unlikely that any changes could delay significant bullish momentum in the near term, which may explain the moderate rise.
Bitcoin (BTC) Faces Uncertainty as the Last Month of Q2 Begins ‼️‼️‼️
📢Bitcoin is trading near US$105,238, balancing bullish optimism with profit-taking risks as Q2 comes to an end, making June a critical month for price direction.
➡️MVRV bands indicate that BTC is approaching overvalued levels but has not yet triggered mass profit-taking, suggesting there is still room for upward momentum.
➡️MVRV Deviation Price Bands show Bitcoin nearing overheated levels but has not crossed the +1σ band. Historically, this threshold has triggered mass profit-taking as investors seek to lock in profits. For now, the market still seems to have room to grow, delaying massive sell-offs.
➡️Until Bitcoin surpasses this critical MVRV level, bullish momentum may persist, driving sustained investment.
👉Bitcoin is trading at US$105,238, maintaining an important psychological support level at US$105,000. This stability has restored some investor confidence following recent volatility, opening opportunities for upward movement.
🔥If bullish momentum continues, Bitcoin is likely to break through resistance at US$106,265 and turn it into support. However, surpassing the US$110,000 threshold may be challenging due to profit-taking pressure and historical resistance at this level.
💣Conversely, if short-term holders begin selling and securing profits at current levels, Bitcoin could drop below US$105,000. A decline to US$102,734 or lower would invalidate the bullish outlook and indicate increased vulnerability, possibly signaling the start of a deeper correction.
🔥Bitcoin, crypto market declines as Trump Continues Trade Tariff Rhetoric with China🔥
📢President Donald Trump stated that China violated the trade agreement with the US.
👉Trump shared on Truth Social that the 145% tariff imposed on China is very detrimental and puts them in "serious economic danger." He mentioned that the impact on China prompted him to make a "quick deal" to prevent civil unrest in the country, which quickly stabilized China's economy.
💣"The bad news is that China, perhaps not surprisingly to some, HAS FULLY VIOLATED THE AGREEMENT WITH US. So much for being Mr. NICE GUY!," 💣Trump wrote.
👉Following President Trump's post, speculation that the US is planning broader technology sanctions against China further impacted risk sentiment, according to Bloomberg.
👉This caused a wider shock across crypto assets, with Bitcoin plunging below $105,000 for the first time since May 20, down 1% on the day and 3.7% on the weekly timeframe. Similarly, top altcoins Ethereum, XRP, and Solana also fell by 4%, 4.8%, and 5.8% respectively in the last 24 hours.
⏩Several crypto sectors followed the downward trend, indicating that investors may be anticipating another weekend sell-off.
⏩The meme coin sector experienced double-digit declines following the announcement, with top tokens Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, and Official Trump (TRUMP) dropping by 8%, 6%, 6%, and 6% respectively.
📢BE CAREFUL..‼️‼️Bitcoin Faces Potential Death Cross💣💣💣💣💣
➡️The price of Bitcoin has recently formed a death cross, and technical indicators suggest the possibility of it happening again. The current price is trading just above critical support at US$104,584, which has acted as a short-term floor.
💣If this support fails, the next downside target is at US$102,135 and could potentially drop as low as US$100,694 if selling pressure increases.
⏩The presence of consecutive death crosses, combined with weak price action near this level, increases the likelihood of a deeper correction in the short term.
✴️On the bullish side, if Bitcoin can rebound and build strong momentum, it may retest resistance at US$106,726.
🎉A breakout above this level could trigger a sharp movement towards US$110,728.
🔥Trump Media Group prepares to establish a Bitcoin reserve after closing a $2.4 billion deal🔥🔥🔥
📢Trump Media and Technology Group, backed by Donald Trump, has raised $2.44 billion to build their Bitcoin reserve, according to a press release on Friday.
➡️Trump Media and Technology Group announced that they have raised $2.44 billion from their private offering to establish their Bitcoin reserve.
⏩This comes nearly a week after Trump Media announced it would offer up to $2.5 billion in common stock and convertible notes to build a Bitcoin reserve.
➡️Crypto.com and Anchorage Digital will act as the official custodians for the company's Bitcoin reserve.
➡️Trump Media and Technology Group, listed on Nasdaq, announced on Friday that they have raised $2.44 billion by issuing part of the common stock (DJT) and senior convertible notes to purchase Bitcoin (BTC). Trump Media closes $2.44 billion offering to buy Bitcoin
👉The company stated it has closed the private offering with about 50 institutional investors. The offering consisted of the sale of 55.8 million shares of common stock at a price of $25.72 per share, resulting in gross proceeds of $1.44 billion.
👉The company also issued $1 billion in senior convertible notes guaranteed at 0.0% maturing in 2028 with a conversion price of $34.72 per share. This brings total proceeds to around $2.44 billion. Trump Media plans to use $2.3 billion of the proceeds to create their Bitcoin reserve.
📢Kobessi's letter on Thursday highlighted that if the International Trade Court's decision on retaliatory tariffs is enforced, "all tariffs collected since April 2 must be refunded."
⏩The report assumes that these refunds will consume around $10 billion of tariff revenue since the 2024 level, including a base tariff of 10% on all countries as well as higher tariffs imposed on certain countries.
✴️"The US will owe China alone a refund of about $3.5 billion," said Kobessi's analyst.✴️
➡️Looking at the short-term prospects for Bitcoin, this decision could be positive as it helps boost market sentiment due to reduced trade tensions. However, traders should be cautious of price volatility.
$BTC Bitcoin price continues its decline on Wednesday, following a slight drop the day before.
⏩However, it tested again and found support around the daily level of $106,406. At the time this news was written on Thursday, BTC had slightly recovered, trading around $108,400.
Bitcoin's momentum indicators show early signs of exhaustion. The Relative Strength Index (RSI) on the daily chart is at 62, trending down after being rejected from the overbought level of 70, indicating a waning bullish momentum.
⏩In addition, the Moving Average Convergence Divergence (MACD) indicator also shows a bearish crossover.
⏩It also shows increasing red histogram bars below its neutral level, indicating a correction ahead.
🔥If BTC continues to recover and closes above its all-time high, it may continue the rally towards the key psychological level of $120,000.
Will Bitcoin Prices Correct❓❓On-Chain Data Emits Serious Signals🔥‼️‼️
📢Determining the exact moment of a price reversal is indeed not an easy task. However, several indications can show increasing risks, especially for investors who have not built strong positions.
🔥Two Signals Indicating Profit Taking
👉Data from Glassnode confirms this direction. In May, the accumulation score for wallets containing more than 10,000 BTC fell from the range of 0.8 to below 0.5. This change is visualized through a gradient from blue to orange.
👉In addition, wallets containing between 1 BTC to 10,000 BTC also show weakening accumulation behavior. This is depicted by the gradual fading of the blue color. Only wallets with less than 1 BTC appear to show a clear shift from distribution to strong accumulation, triggered by Bitcoin's new all-time high.
👉This data series reflects a tendency for profit taking among deep-pocketed investors. Meanwhile, small-cap retail investors seem driven by FOMO (fear of missing out) as they hunt for short-term opportunities.
🔥“Currently, it’s hard to say we are in a phase of euphoria. The broader macroeconomic landscape and uncertainty regarding the direction of Trump's government policy make investors reluctant to take full risks. When this 99% signal drops, unrealized profits shrink. This could trigger a wave of profit-taking and cause latecomer investors to give up and sell at a loss,”🔥 said analyst Darkfost.
⏩Bitcoin has recorded seven consecutive weeks of rallies and has now successfully breached prices above US$110,000. However, several new signals are starting to emit that this bullish trend may soon meet its end.
$PEPE 👉Investor PAUS Long Position on PEPE Worth US$20 Million🔥🔥🔥🔥
📢Crypto whale James Wynn has opened a significant long position with 10x leverage on the meme coin PEPE, valued at approximately US$20 million.
👉Data from Wynn's public address on Hypurrscan shows that this trade started at an entry price of US$0.0140 per token, with a liquidation price of US$0.0102.
➡️This trade involves 1,388,696,014 PEPE tokens, with a position value of US$19,997,222 and a margin of US$1,999,722 in cross-margin mode.
➡️The current market price is at US$0.014404, providing a buffer above the liquidation threshold. However, this trade has accumulated a negative funding fee of US$876.61, indicating the cost of maintaining this leveraged position.
Are you interested in following it ❓❓ ✅Trade here $PEPE
$SUI Faces Criticism Over Controversial US$162 Million Recovery Plan for $CETUS
📢The Sui Blockchain is under scrutiny after supporting a controversial proposal from the DeFi platform Cetus Protocol to recover frozen assets worth US$162 million.
➡️The Sui Foundation agreed to support the on-chain voting but stated it would remain neutral and not participate.
🔥"Today, Cetus invites the community to vote on a protocol upgrade to recover frozen funds, without canceling chain history or reversing transactions. This is an extraordinary request in response to extraordinary needs–Cetus customer funds are at stake. After consideration, we support their call for on-chain voting,” 🔥Sui stated.
👉The Foundation also stated that Cetus must use all available financial resources to compensate affected users until all losses are paid.
👉This decision follows an incident on May 21 where Cetus lost over US$223 million due to hacking. In response, more than a third of Sui validators froze a portion of the stolen assets by refusing to process transactions from two wallets believed to be associated with the perpetrators.
⏩Meanwhile, Cetus is offering a US$6 million reward to the hackers to recover the remaining funds. However, this offer has faced sharp criticism from community members who argue that the amount is too low.
⏩At the same time, Cetus is pushing for a protocol upgrade to recover the frozen funds. This proposal aims to achieve this without altering the historical records of the blockchain or canceling transactions.
🔥Although this approach is seen as a compromise, it has sparked debate over the integrity of Sui's decentralization.