“Life appears to me too short to be spent in nursing animosity, or registering wrongs.”
- Charlotte Bronte

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Happy Tuesday Folks! I am currently many feet in the air on my way to DC, unfortunately Bitcoin is not the same. What appeared was a market pump turned into a market dump as the classic "doh Bart!" pattern returns. There is no decisive sentiment or clear direction for this market and it's driven many insane. Remember, it requires patience and vigilance - be position to benefit no matter what the market does. 

Regulation heats up as Sen Lummis bill comes out as well as a US Bill that was leaked. Globally, governments continue to grapple with how to regulate Crypto and go back and forth from banning to unbanning. Folks IMHO the rest of the year is going to be choppy so buckle up; just as I am because we just hit turbulence! 

Bitcoin Provide Global Freedom (David Zell)

JUST IN

• Federal Reserve Bank of St. Louis starts using Bitcoin to track the cost of goods (Finbold)
  

CRYPTO MAKRET

• Half of Asia's affluent investors have crypto in their portfolio: Report (Cointelegraph | Blockworks)
• Crypto market turns red casting doubt on imminent recovery; Market wrap (Finbold | Decrypt | CryptoPotato)

BITCOIN IS THE ANSWER TO FINANCIAL BURNOUT

BITCOIN

• Bitcoin price recovers $31.5K, but traders say ‘scam’ price action will bring more downside (Cointelegraph)
• Bitcoin (BTC) On-Chain Analysis: BTC Breaks Down Below Key Metric (BIC)
• Glassnode: Bitcoin Long-Term Holders Own 90% Of Supply In Profit (NewsBTC)
• Institutional Investors Refocus On Bitcoin As Market Losses Intensifies (NewsBTC)
• Short Position Piling Up, Could This Hint At The Next Bitcoin Move? (NewsBTC)
• Bitcoin ‘Bart Simpson’ returns as BTC price dives 7% in hours (Cointelegraph | BIC | CryptoPotato | UToday | Coindesk)
• Longer-term Bitcoin holder losses hit two year lows (Cointelegraph)
• The Next Bitcoin Breakout? Nancy Pelosi Could Have The Answer (Bitcoinist)
• Weekly Bitcoin Inflows Totaled $126M as Institutions Keep 'Buying the Dip' (Decrypt)
• The Bottom May Not Be In, But How Low Can Bitcoin Go? (Bitcoinist)
• Traders Suffer Nearly $30M in Bitcoin (BTC) Long Liquidations Within 4 Hours (BIC)
• Fed forgets long-term dollar devaluation when pricing eggs in BTC (Cointelegraph)
• New Research Unearths Insights Into Satoshi and Bitcoin’s Early Days (Coindesk)

ALTCOINS

• Ethereum (ETH) Generates Bullish Divergence Despite Bearish Price Action (BIC)
• Ethereum Remains Revenue King as Competing L1s Get Crushed (CryptoPotato)
• TA: Ethereum Fails Near Key Resistance, Why $1,700 Is The Key (NewsBTC)
• BNB price risks 40% drop as SEC launches probe against Binance (Cointelegraph)
• Binance Coin (BNB) Falls Slightly as SEC Investigation Looms (BIC)
• Why Is $ADA Up by 4% on the Same Day That Both $BTC and $ETH Are Down by 4%? (Cryptoglobe)
• Sold your SOL? Solana price eyes 35% jump as two technical signals flip bullish (Cointelegraph)

STABLECOINS

• $100,000,000 USDT Transferred to Binance: Here's Who Moved It and Why (UToday)
• Circle Adding USDC to Polygon for Web3 Payments (Decrypt | TB)
• Fintech Giant CheckoutCom Embraces USDC as a Payment Method (CryptoPotato | BIC)

ANALYST'S CORNER

• Dave The Wave: Crypto Analyst Who Nailed Bitcoin May 2021 Collapse Predicts Incoming BTC Rally – Here’s His Target $39,547 (TDH)
• CoinMarketCap: Crypto Community Sees Nearly 80% Upside For Ethereum By End Of June - $3,140 (NewsBTC | Finbold)
• Peter Brandt: Savvy Trader Spots Downside Pattern for Ethereum (UToday)
• DonAlt: Solana, Dogecoin and This Type of Crypto Asset Are Top Altcoins To Accumulate in Bear Market Bottom, According to Popular Analyst (TDH)
• Rekt Capital: Altcoins in Danger of Getting Wrecked As Bitcoin Forms Bottom, According to Top Crypto Analyst (TDH)

NOTABLE VOICES

• Senator Cynthia Lummis: Using Bitcoin for 401(k) and as Store of Value Is Wonderful Idea (UToday)
• Michael Saylor: MicroStrategy's CEO Believes Bitcoin Will Benefit from the Regulatory Clarity Initiated by Senators Lummis and Gillibrand (EWN)
• Kevin O’Leary: Shark Tank Investor Says Wild Price Swings of Bitcoin (BTC) Could Disappear if This Happens (TDH)
  
• Kristalina Georgieva: IMF Chief says Crypto ‘Offers Us All Faster Service, Much Lower Cost, and More Inclusion’ (Cryptoglobe)
• BIS Economists Contend Crypto Can't Fulfill the Role of Money (Coindesk)

ACCEPTANCE/ADOPTION

• The business of a Bitcoin standard: Profit, people and passion for good food (Cointelegraph)
  
• German Crypto Payment Processor Becomes a Customer of Ripple Liquidity Hub (Cryptoglobe)

PARTNERSHIPS

• Ripple Concludes Fresh Partnership to Expand into European Luxury Market (UToday)

ETFs

• Ken Griffin’s Citadel Willing to Venture Into Crypto ETFs (UToday | BIC)
• ‘Bitcoin-thematic’ ETF lists on Italian stock exchange Borsa Italiana (Cointelegraph)
• 3iQ Latest Crypto ETF Fund Manager to Join Australian Market (Blockworks | Cointelegraph)
• Bitcoin-Based Products Breach Half Billion Year-to-Date Inflows (BIC)

BLOCKCHAINS

• Bitcoin’s market dominance nears a year-high as Ethereum’s share sharply declines (Finbold)
• Ethereum's Ropsten test merge expected to initiate in next 48 hours (TB)
• Cardano Inching Closer to Vasil Hard Fork (UToday)
• The Lowdown on Dogecoin’s Anticipated Upgrade (BIC)

EXCHANGES/WALLETS/BANKS

• Crypto Exchange Kraken Says Decentraland, The Sandbox and Metaverse Sector Far Outperforming Market Year-on-Year (TDH)
• Coinbase balance drops by 30K BTC as Bitcoin price nurses 6% losses (Cointelegraph)
• Paypal Allows Withdrawal of Bitcoin and Ethereum to Personal Wallets (CryptoPotato | Bitcoinist | TB | EWN | Cointelegraph | BIC | Blockworks)
• Maiar Cryptocurrency Exchange Shuts Down Operations After $113M Exploit (Bitcoinist)
• Citadel Securities is gearing up to launch a crypto trading ecosystem for brokers (TB | Blockworks | BM)
• Kazakhstan’s central bank ‘isn’t going to ignore’ the crypto market (Cointelegraph)
• Bitcoin Bank Custodia Sues Federal Reserve, Demanding Decision On Master Account (Forbes)

MINING

• Bitcoin Miners Sell As Mining Revenues Come Under Stress (Bitcoinist)
• Research: Pioneer Bitcoin miners chose to preserve network instead of abusing power (Finbold)
• One year after China’s crypto mining ban: Almost 100 Bitcoin nodes still running (Finbold)
• Argo May Bitcoin Output Drops 25% From April Amid Teething Problems at Texas Facility (Coindesk | TB)
• White House Preparing New Study on How To Curb Crypto Energy Footprint: Report (TDH)
• Bitcoin mining stock report: Tuesday, June 7 (TB)

LEGISLATIONS/REGULATIONS

• New US Bill on Crypto Might Have Been Leaked: Key Points (UToday | Cointelegraph)
• Senators Gillibrand and Lummis release long-awaited cryptocurrency bill (TB | Coindesk | Finbold | Blockworks | Cointelegraph | TDH | BIC)
• Human Rights Leaders Urge Congress to Take 'Open-Minded' View on Bitcoin (Coindesk)

PODCASTS

• The Breakdown: So We Are Not Heading Into A Recession?
• What Bitcoin Did: A Lesson In Volatility With Dan McArdle
• Bitcoin Takeover: S11 E5: Charlie Lee on Mimble Wimble Extension Blocks (MWEB)