Bitcoin rebounded toward $105,000 on June 6 after hitting a four-week low the day before, raising questions about whether the sharp drop was coordinated. The decline occurred amid renewed U.S.–China tariff talks, growing fears of a recession, uncertainty surrounding U.S. Bitcoin reserves, and speculation over custodial rehypothecation.
With these pressures mounting, a quick recovery to $110,000 looks unlikely. A bearish divergence on the weekly chart hints at a possible 50% correction to $64,000. Veteran trader Peter Brandt also warned that Bitcoin must reclaim its parabolic trendline soon, or risk cutting its bull run short before the $150,000 target.
While Bitcoin’s surge to $112,000 had sparked optimism, its drop below $105,000 is now putting that bullish case to the test.
This recap unpacks the sentiment and outlook that will shape the next move of the crypto market..
Visit our website for transparent and decentralized crypto trading and to list your crypto token for free. For more, follow Melega Finance (@meleganews) on X.
TOP CRYPTO NEWS RECAP (June 1- June 7, 2025)
- Trump Media Seeks SEC Approval for Bitcoin ETF
- Gemini Files Confidential IPO Amid Crypto Market Rebound
- Circle Begins Public Trading on NYSE Amid Strong Investor Demand
- SEC Shifts to Transparent Crypto Rulemaking, Says Chair Atkins
- Tether Transfers $3.9B in Bitcoin to Twenty One Capital, Now 3rd-Largest Holder
- Dubai Approves Ripple’s RLUSD Stablecoin for Real Estate Tokenization
Trump Media Seeks SEC Approval for Bitcoin ETF
Trump Media & Technology Group, led by Donald Trump, has filed a registration with the U.S. SEC to launch the Truth Social Bitcoin ETF. The fund aims to track Bitcoin’s price, with Crypto.com acting as the custodian and liquidity provider. Filed on June 5, the ETF proposal includes exclusive service clauses and controversial front-running rights for sponsors. If approved, it will be listed via NYSE Arca through Yorkville America Digital. The product adds to the growing wave of crypto-based ETFs seeking regulatory clearance in the U.S.
Gemini Files Confidential IPO Amid Crypto Market Rebound
Crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, has confidentially filed for an IPO with the U.S. SEC, signaling a potential return to growth after recent challenges. The filing comes amid renewed investor confidence following successful IPOs from firms like Circle and CoreWeave. Details such as share count and pricing remain undisclosed. Gemini, valued at $7.1 billion in 2021, previously faced regulatory scrutiny over its “Earn” program but appears poised to capitalize on the crypto market’s renewed momentum.
Circle Begins Public Trading on NYSE Amid Strong Investor Demand
Circle, the issuer of USDC, officially began trading on the New York Stock Exchange under the ticker CRCL on June 5. The IPO was upsized to $1.05 billion due to high investor demand, with 34 million shares sold at $31 each. CEO Jeremy Allaire called the debut a milestone for transitioning to an internet-based financial system. Circle’s launch follows a 40% surge in USDC’s market cap this year, reinforcing its position as the second-largest stablecoin after Tether.
SEC Shifts to Transparent Crypto Rulemaking, Says Chair Atkins
SEC Chair Paul Atkins told a Senate subcommittee that the agency will regulate crypto through formal “notice and comment” procedures rather than enforcement actions. This marks a shift from the prior approach under Gary Gensler, which was often criticized for creating crypto policy through lawsuits. Atkins emphasized the importance of developing clear rules for crypto issuance, custody, and trading to support innovation while deterring fraud. He also plans to dissolve the SEC’s FinHub, integrating innovation efforts agency-wide, and expects the Crypto Task Force to release its first report in the coming months.
Tether Transfers $3.9B in Bitcoin to Twenty One Capital, Now 3rd-Largest Holder
Tether and Bitfinex have moved 37,229 BTC (worth $3.9 billion) to addresses linked to Twenty One Capital, a Bitcoin-native financial firm led by Jack Mallers. The transfers include pre-funding for SoftBank’s investment and equity backing. With these transactions, Twenty One becomes the world’s third-largest corporate Bitcoin holder, after Strategy and MARA Holdings. The firm plans to go public via a $3.6 billion SPAC merger. This marks a major step in building Bitcoin-based financial infrastructure.
Dubai Approves Ripple’s RLUSD Stablecoin for Real Estate Tokenization
The Dubai Financial Services Authority has approved Ripple’s RLUSD stablecoin for use in the Dubai International Financial Centre. RLUSD will support various digital asset services, including a major initiative by the Dubai Land Department to tokenize real estate title deeds on the XRP Ledger. Ripple noted strong interest from UAE businesses in crypto solutions and is partnering with firms like Zand and Mamo. RLUSD is also approved by New York regulators, marking it as one of the few globally compliant stablecoins.
Risk warning: Investing in or trading cryptocurrency is subject to high market risk. Hence, you might lose your money in the process. Please conduct thorough research and plan your investments carefully. We at MelegaSwap will make our best efforts to list high-quality and potential coins, but we are not responsible for any losses you may incur.
Trade with the best decentralized AMM cryptocurrency exchange
Do you want to buy, sell, and invest in cryptocurrencies while still having 100% control of your crypto assets? If so, then Melega Finance is a good fit for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that offers users various options for trading and earning free tokens at high interest rates and low fees.
At Melega, nobody manages your funds for you because you manage them directly from your wallet. Smart contracts transparently handle everything else.
Learn More About the Melega Ecosystem
DAPP: https://melega.finance/
Website: https://melegaswap.finance
Crypto Services Hub: https://melega.space/
Telegram: https://t.me/melegacommunity
X: https://twitter.com/meleganews
Binance Square Page: https://www.binance.com/en/feed/profile/212703589
Instagram: https://www.instagram.com/melega.finance/
YouTube: Melega Finance Official
