Bitcoinโs Liquidity Trap: Will ETF Outflows and SpaceX IPO Push BTC Lower?
Market Analysis by covering: S&P 500, Bitcoin US Dollar, Space Exploration Technologies Corp. Read 's Market Analysis on Investing.com
Market Analysis by covering: S&P 500, Bitcoin US Dollar, Space Exploration Technologies Corp. Read 's Market Analysis on Investing.com
Dogecoin, Shiba Inu Plunge 8%: Is It Over For Meme Coins?
Dogecoin (CRYPTO: DOGE ) and Shiba Inu (CRYPTO: SHIB ) each shed roughly 8% on Friday as Bitcoin (CRYPTO: BTC ) drifted toward $60,000, with the heaviest selling concentrated in the most speculative corners of the crypto market. Both Tokens Broke Key Support On Heavy Volume With Sellers In Control Dogecoin fell from $0.0891 to $0.0830, breaking the ascending channel that held since February and landing directly on the $0.080 horizontal support, the last structural level visible on the chart. Shiba Inu dropped from $0.000004997 to $0.000004630, slicing through support near $0.000004780 on heavy selling pressure. Both tokens saw their biggest volume spikes during the breakdown rather than on any recovery attempt, confirming sellers remained in control throughout the session. Derivatives traders moved into defensive positioning, with DOGE futures open ... Full story available on Benzinga.com
Dogecoin (CRYPTO: DOGE ) and Shiba Inu (CRYPTO: SHIB ) each shed roughly 8% on Friday as Bitcoin (CRYPTO: BTC ) drifted toward $60,000, with the heaviest selling concentrated in the most speculative corners of the crypto market. Both Tokens Broke Key Support On Heavy Volume With Sellers In Control Dogecoin fell from $0.0891 to $0.0830, breaking the ascending channel that held since February and landing directly on the $0.080 horizontal support, the last structural level visible on the chart. Shiba Inu dropped from $0.000004997 to $0.000004630, slicing through support near $0.000004780 on heavy selling pressure. Both tokens saw their biggest volume spikes during the breakdown rather than on any recovery attempt, confirming sellers remained in control throughout the session. Derivatives traders moved into defensive positioning, with DOGE futures open ... Full story available on Benzinga.com
Al Green Slams Trump's Meme Coin Involvement, Praises Powell's Resistance
Democratic House Representative AI Green , a vocal opponent of President Donald Trump , on Thursday criticized the Presidentโs involvement in meme coins. Meme Coins Draw Criticism Speaking during a congressional hearing, Green took aim at meme coins, describing them as investments that rely primarily on the โgreater fool theory.โ According to Green, meme coins and other "speculative assets" provide no underlying value and are driven largely by speculation. Green specifically criticized Trump and his family's meme coin ventures alleging that they have generated hundreds of millions of dollars through meme ... Full story available on Benzinga.com
Democratic House Representative AI Green , a vocal opponent of President Donald Trump , on Thursday criticized the Presidentโs involvement in meme coins. Meme Coins Draw Criticism Speaking during a congressional hearing, Green took aim at meme coins, describing them as investments that rely primarily on the โgreater fool theory.โ According to Green, meme coins and other "speculative assets" provide no underlying value and are driven largely by speculation. Green specifically criticized Trump and his family's meme coin ventures alleging that they have generated hundreds of millions of dollars through meme ... Full story available on Benzinga.com
PRECIOUS METALS | SPDR Gold Trust Holdings Fall 5.223 Tons to 1,019.921 Tons
Holdings in SPDR Gold Trust, the worldโs largest gold ETF, fell by 5.223 tons from the previous day to 1,019.921 tons. According to Jin10, the latest data showed the fundโs total holdings at 1,019.921 tons after the daily decline.
Holdings in SPDR Gold Trust, the worldโs largest gold ETF, fell by 5.223 tons from the previous day to 1,019.921 tons. According to Jin10, the latest data showed the fundโs total holdings at 1,019.921 tons after the daily decline.
Hyperliquid Strategies Holds 23.7 Million HYPE With Over $1.1 Billion Unrealized Profit
Hyperliquid Strategies holds approximately 23.7 million HYPE and has an unrealized profit of over $1.1 billion. According to NS3.AI, HYPE retreated this week from its all-time high above $74.
Hyperliquid Strategies holds approximately 23.7 million HYPE and has an unrealized profit of over $1.1 billion. According to NS3.AI, HYPE retreated this week from its all-time high above $74.
HYPE Spot ETFs Record $2.92 Million Net Outflow on June 5
HYPE spot ETFs posted a total net outflow of $2.92 million on June 5 (U.S. Eastern Time). According to Foresight News, SoSoValue data showed the outflow came solely from the Bitwise Hyperliquid ETF (BHYP), which recorded a $2.92 million net outflow for the day. Despite the daily outflow, BHYPโs cumulative historical net inflow stood at $87.50 million. As of publication, HYPE spot ETFs had a total net asset value of $159 million, with a HYPE net asset ratio of 1.20%. Historical cumulative net inflows across HYPE spot ETFs reached $149 million.
HYPE spot ETFs posted a total net outflow of $2.92 million on June 5 (U.S. Eastern Time). According to Foresight News, SoSoValue data showed the outflow came solely from the Bitwise Hyperliquid ETF (BHYP), which recorded a $2.92 million net outflow for the day. Despite the daily outflow, BHYPโs cumulative historical net inflow stood at $87.50 million. As of publication, HYPE spot ETFs had a total net asset value of $159 million, with a HYPE net asset ratio of 1.20%. Historical cumulative net inflows across HYPE spot ETFs reached $149 million.
Illinois Legislature Passes Budget With Proposed 0.2% Crypto Transaction Tax
The Illinois state legislature has passed a fiscal year 2027 budget that includes a provision to levy a 0.2% tax on cryptocurrency transactions, to be collected by digital asset brokers. According to ChainCatcher, the measure is described as a โprivilege taxโ and is part of an amendment to the Digital Asset Privilege Tax Act, which would also require any digital asset broker operating in Illinois to register. Starting January 1, brokers that fail to comply could be charged with a Class 3 felony, facing two to five years in prison and fines of up to $25,000. The budget passed the legislature on Monday but still requires Governor JB Pritzkerโs signature to take effect. Pritzker has publicly said he plans to sign the bill as soon as possible, but had not signed it as of Friday morning. Lawmakers estimate the crypto tax could generate $60 million in revenue for the state.
The Illinois state legislature has passed a fiscal year 2027 budget that includes a provision to levy a 0.2% tax on cryptocurrency transactions, to be collected by digital asset brokers. According to ChainCatcher, the measure is described as a โprivilege taxโ and is part of an amendment to the Digital Asset Privilege Tax Act, which would also require any digital asset broker operating in Illinois to register. Starting January 1, brokers that fail to comply could be charged with a Class 3 felony, facing two to five years in prison and fines of up to $25,000. The budget passed the legislature on Monday but still requires Governor JB Pritzkerโs signature to take effect. Pritzker has publicly said he plans to sign the bill as soon as possible, but had not signed it as of Friday morning. Lawmakers estimate the crypto tax could generate $60 million in revenue for the state.