Price: $71,584 | Last Year: $26,611
"It's remarkable how often the real problem is not what happened, but how it was communicated." - James Clear
Will Bitcoin fall below $70K after $2.2B options expiry today? The inflows from the United States spot Bitcoin ETFs could help Bitcoin absorb the selling pressure from Friday’s option expiry. Bitcoin surpasses $71,000 mark, driven by anticipation of Fed rate cuts and positive economic data. Bitcoin traders have set a new record for $BTC futures positions, with open interest surpassing $37.7 billion.
“Bitcoin is near what is called a Blue Sky Breakout. A Blue Sky Breakout is when an asset breaks above all previous historic price action and experiences what’s called price discovery. So a Blue Sky Breakout is likely what’s coming up very, very soon.” - Kevin Svenson, Crypto Trader - YouTuber
$1,500,000,000 liquidation cascade waiting for Bitcoin at $72,000, according to Willy Woo. Bitcoin (BTC) may be setting up for a rise to $83,000 as it completes a major bullish price pattern on the daily chart, according to technical analysis by 10x Research; Markus Thielen.
Semler Scientific® is continuing to add bitcoin to its treasury with a $17 million purchase and an announcement that it's raising $150 million so it can buy more; its May announcement of a $40 million bitcoin purchase drove the company's stock up 25%.
Kraken Digital Asset Exchange plans to raise $100M fundraising round before potential IPO.
MARA sold a large chunk of its Bitcoin production in May as miners adjust operations after the halving event. Bitcoin mining stocks soar amid takeover frenzy. Core Scientific declines unsolicited CoreWeave buyout bid. Stablecoin giant Tether.io now owns 25% of Bitcoin Miner Bitdeer Group. Meanwhile, Bitdeer introduces energy-efficient Bitcoin mining chip.
NY Attorney general Letitia James sues crypto trader NovaTech, claims $1B fraud.
Bitcoin Basics
Podcast of the Day: Get Ready For The Crypto Explosion: Ethereum to $22K, Bitcoin to $80K hosted by Scott Melker
OTHER NEWS
Spot Ether ETF approvals will ‘take some time’ and “it’s really up to them how responsive they are,” said U.S. Securities and Exchange Commission Chair Gary Gensler. ProShares seeks SEC approval for spot Ethereum ETF listing on NYSE. BNB blasts past $700. Is there a limit to this rally? Solana ($SOL) network growth and strong support signal bullish price outlook.
