Bitcoin BTC$61,412.97 is wobbling near $61,000 and data due later today could push it over the edge along with the wider crypto market. The U.S. consumer price index for May is due to hit the wires at 8:30 a.m. ET. The figure is expected to show the cost of living in the world’s largest economy…
XRP holders are increasingly selling at a loss in a textbook sign of market capitulation. The 90-day moving average of XRP’s realized profit-to-loss ratio has plunged to 0.38, according to data tracked by Glassnode. That means for every $1 of losses investors are realizing right now, they are taking in just 38 cents in profit….
Three of Japan’s largest banks said they will jointly issue a stablecoin this financial year, which ends in March. Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMBC) and Mizuho Financial Group will establish a council to explore operational frameworks and prepare for the issuance of stablecoins, according to a statement on MUFG’s website….
A widely-tracked 5x-leverage perpetual on Hyperliquid tied to SpaceX’s impending IPO, expected to be the largest in history, has declined for three consecutive weeks. The product, tickered as SPCX, traded near $157 on Wednesday, down about 27% from its mid-May launch price of around $216, after briefly touching $230. That does not mean traders are…
David Nicholas, CEO and Founder of XFUNDs by Nicholas Wealth and portfolio manager of several actively managed ETFs including BLOX, which maintains bitcoin as a core holding, views the current bitcoin market as technically damaged. He notes that BTC is trading roughly 20% below its 50-day moving average, a situation he describes as a “broken…
XRP keeps finding buyers near major support, but it keeps losing support anyway. The latest drop pushed the token back toward the same $1.10 area that several analysts had flagged as a key line in the sand, with selling pressure accelerating once $1.13 gave way. News Background • Several analysts pointed to the $1.09 area…
BlackRock is closely watching Wednesday’s May U.S. inflation report for the first clear signal of how the U.S.-Iran conflict is feeding into already sticky prices. “We look to May U.S. inflation figures for a clearer read on how the Mideast conflict energy shock is impacting already sticky inflation. The full breadth of the shock has…
Bitcoin’s BTC$61,217.08 recent weakness is being driven by softer capital flows rather than concerns over quantum computing or other risks, according to Wall Street broker Bernstein. Growing concerns that future quantum computers could eventually break the cryptography underpinning Bitcoin have become a recurring topic in crypto markets, especially after recent research from Google suggested the…
Blockchain-based lending protocol Morpho said it raised $175 million in a funding round co-led by Paradigm, a16z crypto and Ribbit Capital, as investors bet that credit markets will increasingly move onchain. The round also included Apollo Funds, Circle Ventures, VanEck and Ledger Cathay, according to a post on the Morpho blog. Morpho operates an open…
Bitcoin continues to flash warning signs, according to Quinn Thompson, CIO at Lekker Capital, as his fund remains firmly bearish on crypto heading into the summer. Thompson argues that the market faces a combination of structural challenges, including ongoing digital asset treasury (DAT) concerns, unresolved questions about Strategy’s preferred stock STRC, and lingering fears about…
