🔝The dollar gained on Thursday, despite a soft U.S. producer price inflation report for May, following the Federal Reserve's hawkish tone at its recent meeting. U.S. producer prices fell 0.2% in May, after a 0.5% increase in April. Core prices remained flat.

🗓This followed a softer-than-expected consumer price index (CPI) report, suggesting likely softening in the Fed's preferred inflation measure, Personal Consumption Expenditures (PCE).

💵The dollar rebounded after Fed officials unexpectedly forecast only one rate cut this year, possibly delaying it until December. Fed Chair Jerome Powell emphasized waiting for clearer economic signals before adjusting rates. The dollar index (DXY) rose 0.23% to 104.93.

💸Despite CPI optimism, traders adjusted expectations, seeing a 66% chance of a September rate cut. The dollar remains strong as the Fed's stance contrasts with more dovish international central banks. The euro fell 0.19% to $1.0786, and the yen dropped 0.29% to 157.16 per dollar. Bitcoin decreased by 0.70% to $67,603.

#Dollar #FederalReserve #Forex

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🐶Dogecoin (DOGE) has seen a surge in activity, with nearly 10 billion DOGE transacted in 24 hours, driven by significant whale-tier transactions. There were 1.5 thousand transactions in the last day, peaking at 1.89 thousand on June 7, 2024, and dropping to 1.18 thousand on June 9, 2024, indicating rising interest.

🛡Totaling 9.29 billion DOGE, transactions reflect robust market dynamics, down from a weekly high of 27.78 billion on June 7 and a low of 6.84 billion on June 9, likely due to profit-taking or portfolio adjustments. Large transactions totaled $1.33 billion, with peaks at $4.2 billion on June 7 and a low of $1.01 billion on June 9, enhancing liquidity and market depth.

💸These trends show sustained interest in Dogecoin, with active participation from retail and institutional investors, amid a responsive and potentially volatile market.

#Dogecoin #Cryptocurrency #Blockchain

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💎TON has broken through the historical maximum — the token has reached a price of 8$.

🔽After that, the holders hurried to sell the coin and the price dropped to $ 7.82.

#Ton

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💥The Holograph protocol was the victim of an attack after the airdrop in May.

🔴The attacker exploited a vulnerability in the smart contract, which led to the release of an additional 1 billion HLG tokens. The token exchange rate has collapsed by 80%.

🔴The project team has already eliminated the vulnerability and is now cooperating with exchanges to block malicious accounts.

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🟠💯Bitcoin Miners Are Capitulating: What's Happening?

Bitcoin miners are unexpectedly capitulating, a phenomenon that could potentially fuel BTC's growth.

🗣Over the last 18 months, Bitcoin's hashrate, indicating network security, was on an uptrend. However, this trend has recently been breached, suggesting that some miners are quitting.

⏺Miner capitulation is evident through a decline in hashrate, reflecting reduced processing power for Bitcoin mining. Data from CryptoQuant shows a drop in the true hashrate of the network. The hashrate, previously rising, is now declining, marking a deviation from the past 18 months.

🗣This decline is likely due to increasing operational costs and reduced profitability for miners, exacerbated by the halving event not boosting BTC's price as expected. As Bitcoin's price drops, mining becomes less profitable, leading some miners to shut down or reduce operations.

⏺A declining hashrate triggers a readjustment period for Bitcoin, where mining difficulty decreases, making it easier and more cost-effective for remaining miners. Historically, significant price actions have followed hashrate drops. Miners' capitulation might reduce selling pressure, potentially stabilizing and even increasing BTC's price if demand surpasses supply.

#Bitcoin #CryptoMining #BTC

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🟠Bernstein Analysts Raise Bitcoin Price Target to $200,000 by End of 2025

📈 Bernstein analysts have raised Bitcoin's price target to $200,000 by the end of 2025, up from $150,000. This bullish outlook is driven by expected demand from spot Bitcoin ETFs managed by major asset managers like BlackRock, Fidelity, and Franklin Templeton. These ETFs could reach $190 billion in assets, up from $60 billion now.

🔍 The introduction of U.S. regulated ETFs is seen as a major driver, bringing structural demand from traditional capital pools. Analysts predict Bitcoin ETFs will account for around 7% of Bitcoin in circulation by 2025.

📉 Bitcoin supply is also becoming more constrained following the recent halving event, which decreased the daily new supply from 900 BTC to 450 BTC. This, coupled with rising demand, is expected to drive Bitcoin's price up significantly.

🔮 Looking further ahead, analysts estimate Bitcoin could hit $500,000 by 2029 and $1 million by 2033. Currently, Bitcoin is trading at $67,123.

👉 What are your thoughts on these predictions? Do you think Bitcoin will reach these heights?

#Bitcoin #Crypto #BTC #Investing #CryptoNews

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☄️Storm Partners launches Web3 innovation sandbox in Geneva

🛠️ The sandbox will offer institutional-grade Web3 tools to help builders and startups develop innovative use cases. Sheraz Ahmed, Managing Partner of Storm Partners, highlights the initiative as part of a major technological revolution reshaping industries globally.

🌐 Lightningbox aims to become a hub for the brightest minds in Web3, fostering groundbreaking advancements in blockchain technology.

👉 What innovations do you hope to see from Lightningbox? Share your thoughts!

#Blockchain #Geneva #CryptoTech

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💥Major players in the crypto industry have allocated $160 million to develop and implement industry-friendly regulation in the United States, Bloomberg reports.

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⚡️Andrew Tate burned 400 million DADDY tokens out of a total issue of 999 million.

🔴The total value of the burned coins exceeded $ 110 million.

🔴However, it should be noted that it would be difficult to sell the entire volume at the market price.

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⚡️ Bloomberg analyst Eric Balchunas predicts that the final approval of S-1 forms for spot Ethereum ETFs will be received by July 2.

The S-1 approval will allow the launch of Ethereum ETF trading.

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📰 Yesterday's issue of The Wall Street Journal published an article titled "Cryptocurrency Could Prevent a U.S. Debt Crisis."

The main thesis of the article is that stablecoins backed by the U.S. dollar are becoming a major buyer of U.S. government debt, which could help prevent a debt crisis.

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💙 Crypto in Every Bank

😏 According to a BIS survey, 94% of central banks worldwide are exploring the possibility of issuing digital currencies.

😏 About 58% of them are actively developing or conducting pilot projects for their own digital currency.

😎 The main reasons are improving the payment system and increasing inclusivity (equal opportunities).

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🌐 Blockchain in Insurance

🗣In 2022, the insurance company AXA implemented blockchain to combat fraud in insurance claims. They used the Ethereum platform to create a decentralized database where all insurance policies and claims are recorded in an immutable ledger.

🗣Blockchain enabled the automation of data verification processes, ensuring transparency and reliability. All transactions and changes are recorded on the blockchain, making forgery or tampering nearly impossible. This reduced the number of fraudulent cases, increasing customer trust in the system.

🗣The use of blockchain also improved AXA's operational efficiency. Automated verifications reduced the time required to process claims, allowing for quicker responses to customer requests. Thanks to these innovations, AXA was able to create a safer and more reliable insurance system, setting an example for other companies in the industry.

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😙 Ethereum ETF by July 2?

💬A Bloomberg analyst predicts the launch of an ETH ETF in the US by July 2, 2024.

💬 The launch might coincide with the celebration of US Independence Day on July 4.

💬Unlike the lengthy approval process for a Bitcoin ETF, approval for Ethereum could be faster.

Previously: Gary Gensler mentioned that the approval would be in the next couple of months.

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