Cryptocurrency News & Live Updates
Synopsis
Bitcoin has bounced back to approximately $106,000 after a recent decline, although it remains 6% below its all-time high. Analysts caution that a deeper pullback could occur if key support levels are breached.
Bitcoin’s recent recovery to around $106,000 comes amid rising geopolitical tensions between Israel and Iran, which initially caused a market slump. The CoinDesk 20 index fell 4.4%, with major cryptocurrencies like ether and toncoin also experiencing declines. While most crypto stocks are down, Circle’s stock surged 13% following its IPO, fueled by interest from Amazon and Walmart in stablecoins. In contrast, traditional markets remain relatively stable, with only minor declines in the S&P 500 and Nasdaq. Analysts are divided on Bitcoin’s future, with some predicting a potential drop to the $88,000-$93,000 range before a possible uptrend towards $130,000. Meanwhile, Solana’s price faced a sharp decline due to market panic, yet significant off-exchange movements by whales suggest a potential accumulation phase. Additionally, NYSE Arca has filed for a Truth Social Bitcoin ETF, reflecting growing interest in regulated crypto investment products. As the market navigates these turbulent waters, the interplay between institutional movements and retail sentiment will be crucial in shaping future trends.
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Bitcoin Recovers to $106K Amid Geopolitical Tensions
Bitcoin has bounced back to approximately $106,000 after a recent decline, although it remains 6% below its all-time high. Analysts caution that a deeper pullback could occur if key support levels are breached.
Afterpay Users Asked to Close BNPL Accounts for Credit Cards
Some Afterpay customers in Australia have been instructed to close their buy-now-pay-later accounts to secure mortgages, with credit cards offered upon qualification, highlighting intense competition in consumer finance.
Solana Whales Move $323 Million Amid Price Drop
Despite a significant drop in Solana’s price, whales transferred over $323 million in SOL between private wallets, suggesting potential accumulation or portfolio rebalancing.
Truth Social Bitcoin ETF Filing Submitted by NYSE Arca
On June 3, NYSE Arca filed with the U.S. markets regulator to list the Truth Social Bitcoin ETF, aiming to provide a regulated investment option for bitcoin.