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Altcoins break out against US money supply after 2,430 days, showing signs of a major bull run reminiscent of 2017.Why This Breakout MattersWhat Comes Next for Altcoins
Metaplanet has quickly become a top 10 publicly traded Bitcoin holder after acquiring 1,088 BTC in its latest buy, bringing its total to 8,888 BTC. This move highlights growing corporate and government Bitcoin adoption worldwide.
The crypto market shows resilience with a $16 billion gain, Bitcoin targets a crucial resistance, and Flare posts strong daily gains as investor confidence grows.
Bitcoin Triumphs as it Stamps Demand, While Altcoins Struggle with Deepening Losses, Further Delaying the Anticipated Altseason
Analyzing Bitcoin's UTXO Supply Ratio and the Indication of an Overheated Market
- 01:26Six whale addresses collectively deposit 95.36 million ENA into CEXAccording to a report by Jinse Finance, monitored by Lookonchain, a total of 95.36 million ENA, valued at approximately $28.4 million, have been deposited into CEX from six wallet addresses over the past 20 hours. These wallets received the ENA from the EthenaProxy wallet.
- 01:25US House of Representatives Holds Another Hearing on Crypto Regulation Bill, Questions Trump's Conflict of InterestOdaily Planet Daily News: On June 7, the U.S. House Financial Services Committee, driven by Democrats, held a "Minority Day" hearing to conduct a supplementary review of the "Clarity Act" for digital asset markets. Several Democratic lawmakers once again questioned former President Trump's involvement in the cryptocurrency field, suggesting it may constitute a conflict of interest.Representative Maxine Waters stated that the act could be used by Trump for personal gain, noting his multiple involvements in cryptocurrency investments during his presidency. Meanwhile, legal experts expressed concerns about the regulatory exemption clauses, potential loopholes, and cybersecurity risks within the act.The Republican side emphasized that the U.S. currently lacks a federal regulatory framework for non-securities digital assets, believing that the act would help fill the regulatory gap. The bill is expected to enter the voting process next week. (CoinDesk)
- 01:24Federal Reserve's Mester: Trade War May Lead to Persistent Inflation, Tariffs Could Raise Inflation in "One or Two Quarters"According to ChainCatcher, citing Jinshi reports, Federal Reserve's Mester stated that there is a 50% chance of persistent inflation due to the trade war. Tariffs may drive up inflation within "one or two quarters".