“Never deprive someone of hope; it might be all they have.”
- H. Jackson Brown, Jr.

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Happy Friday Folks! Another week down and yet Bitcoin remains stable at $30K. The same boring question continues to be asked, has Bitcoin Bottomed? Are we there yet? If not, the downtrend is extremely week rn. Supply continues to dwindle and the sentiment is at some point there will be a shock and ultimately might become the global reserve currency.

Ethereum is holding key support as Whales continue their firm grip on it and it is truly a unique asset due to its new security model. Dogecoin market cap drops more than $6B; hard to believe it's still in the top 10 and Cardano continues to growing exponentially.

Mike McGlone think's Bitcoin can reach $100K and VanEck thinks it will reach $250K in a decade; remember Tim Draper thinks it will reach $250K by the end of this year or next year. Adoption will increase to 10% by 2030. 

Keep reading these articles, watching the videos, and listening to the podcast because within them you will truly be able to see what's coming next! 

JUST IN

• Jack Dorsey is building ‘Web5’ powered by Bitcoin (Cointelegraph | TB | BM)
  

CRYPTO MARKET

• Study reveals 30% of billionaires have direct or indirect investments in crypto (Finbold | CryptoPotato)
  
• The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell (Cointelegraph)

BITCOIN

• BTC Drops Below $30K, ETH Plummets to Lowest Prices Since March 2021 (Market Watch) (CryptoPotato)
• Bitcoin, Ethereum Tumble as CPI Report Points to Rising Inflation (Decrypt)
• Bitcoin In Danger Of Crashing To $20,000 As BTC Price Forms Classic Bearish Technical Pattern (Cointelegraph)
• Bitcoin, altcoins sell-off on record-high inflation, but traders still expect BTC to consolidate (Cointelegraph)
• Enhanced Bitcoin Volatility as May’s Inflation Numbers Come In (Cointelegraph)
• Bitcoin price falls under $29.5K after 'unexpected' 40-year high US inflation (Cointelegraph)
• TA: Bitcoin Bears Keep Pushing, Why BTC Could Still Nosedive (NewsBTC)
• 3 Reasons Why Bitcoin's Downtrend Is Extremely Weak Right Now (UToday)
• Bitcoin ($BTC) Supply on Exchanges Reaches Low Not Seen Since 2018’s Bear Market Bottom (Cryptoglobe)

ALTCOINS

• Ethereum price falls almost 12% in last 24 hours (TB)
• Ethereum To Delayed Merge?, ETH Price Plunges Below $1,700 (NewsBTC | Decrypt)
• Ethereum eyes fresh yearly lows vs. Bitcoin as bulls snub successful 'Merge' rehearsal (Cointelegraph)
• TA: Ethereum Holds Key Support, Why ETH Must Clear This Hurdle (NewsBTC)
  
• Will The Vasil Hard Fork Trigger A Cardano (ADA) Bull Run? (NewsBTC)
• Solana price just one breakdown away from a 40% slide in June — here's why (Cointelegraph)
• Dogecoin Market Cap Plunged More Than $6 Billion in May (BIC | NewsBTC)

STABLECOINS

• Circle Adds Support For Polygon USDC To Accelerate Cheaper Payments (Bitcoinist)
  
• MoneyGram’s USDC transfer service launches in several countries (Cointelegraph | TDH)

ANALYST'S CORNER

• Mike Novogratz: Billionaire Mike Novogratz expects next crypto cycle to start by Q4, 2022 (Finbold)
• Lyn Alden: Investment Strategist Lyn Alden on Bitcoin and Other Inflation Hedges She Uses (Cryptoglobe)
• Willy Woo: On-Chain Analyst Willy Woo Says Bitcoin Is Showing Signs of Bottoming Out – But There’s a Catch (TDH)
• Mike McGlone: Bitcoin ($BTC) Price Could Still Hit $100,000 in 2025, Says Bloomberg Analyst (Cryptoglobe)
• Santiment: Top Crypto Whales Keep a Firm Grip on Ethereum (ETH) While Accumulating One Top-25 Altcoin: Analytics Firm (TDH)

NOTABLE VOICES

• Michael Saylor: MicroStrategy’s CEO Warns that Inflation has Not Peaked, and Neither has Bitcoin (EWN)
• Michael Sonnenshein: Pension funds are actively exploring diversifying into Bitcoin, says Grayscale CEO (Finbold | BIC)
• Kevin O’Leary: Shark Tank’s Says One Sector of Crypto Markets Offers Biggest Opportunity for Global Transformation (TDH)
  
• Haseeb Qureshi: Dragonfly’s  CEO Is Still Optimistic in the Crypto Bear Market (Coindesk)
  
• Abigail Johnson: Fidelity’s CEO Reaffirms Crypto Commitment in Bear Market (Coindesk)
• Jan Van Eck: VanEck CEO Predicts Bitcoin’s Future Price at $250,000 in a Decade (CryptoPotato | TDH)
• Brian Armstrong: Coinbase CEO Says Bitcoin May Become New Global Reserve Currency (TDH | NewsBTC)
• Charles Hoskinson: Affirms Cardano is ‘growing exponentially’ as it prepares for major upgrade (Finbold | Cryptoglobe)
• Charles Hoskinson: Cardano ($ADA) Founder Charles Hoskinson on the Gillibrand-Lummis Crypto Bill (Cryptoglobe)
• Charles Hoskinson: Crypto Bear Markets Are ‘Actually Quite Comfortable’ (ZyCrypto | TDH)
• Warren Buffett: ‘Big Zero’ — Why This Investing Guru And Warren Buffett Disciple Believes The Worst For Crypto Is Yet To Come (ZyCrypto)
• Steve Hanke: Economist says there’s 65% chance of recession as Bitcoin extends losses below $30k (Finbold)

ACCEPTANCE/ADOPTION

• Global Bitcoin adoption to hit 10% by 2030: Blockware report (Cointelegraph)
• Farfetch to begin accepting crypto payments, following other luxury companies (TB | CryptoPotato)

BITCOIN NEEDS TO BE MORE PRIVATE FOR ADOPTION

ACQUISITIONS

• Circle to acquire crypto infrastructure startup Cybavo (TB | Cointelegraph)
  

WEB 3

• Solana NFT Platform Fractal Aims to Simplify Web3 Gaming With Google Sign-In (Decrypt)

ETFs

• Grayscale, Bitwise Confident a Spot Bitcoin ETF Will Be Approved Soon (Coindesk)
• European crypto ETN and ETP report: Friday, June 10 (TB)

BLOCKCHAINS

• Ethereum Core Developers Announce Further Delay of ‘Difficulty Bomb’ (BIC | BIC)
• How the Ethereum Security Model Will Make It a Unique Asset (BIC)
• Ethereum's Long-Term Fundamentals Point to Turnaround in Price; Here's When (UToday)
• Ethereum May Face at Least 5 Issues During Upcoming Merge Update: Details (UToday)
• Here’s how blockchains are helping to advance the global energy grid (Cointelegraph)

THE STATE OF LIGHTNING NETWORK ADOPTION

EXCHANGES/WALLETS/CUSTODY/ATMs

• Coinbase Looks at the Reasons for the Current Bear Market (Cryptoglobe)
• Anchorage forms custody network with five crypto exchanges (Cointelegraph)
• Bitcoin of America reports a ‘rapid expansion’ of its crypto ATMs network in 2022 (Finbold)

MINING

• $30K BTC price has 'severe impact' on Bitcoin miner profits — analysis (Cointelegraph)
• Bitcoin miners say NY ban will be ineffective and ‘isolate’ the state (Cointelegraph)
• Bitcoin's real energy use questioned as Ethereum founder criticizes BTC (Cointelegraph)
• Marathon Digital Bitcoin Production Weaker Than Hoped in May (Coindesk | Bitcoinist)
• Tennessee Bitcoin mine forced to shut down after settling lawsuit with residents (Finbold)
• How extreme Texas weather impacts the bitcoin mining industry (TB)
• Swedish Central bankers snipe Bitcoin mining, cite rampant energy use (Cointelegraph)
• Bitcoin mining stock report: Friday, June 10 (TB)
• Bitcoin and banking’s differing energy narratives are a matter of perspective (Cointelegraph)

WITH BITCOIN PRICE SLIPPING, ARE MINER SELLOFFS TO BLAME?

LEGISLATION/REGULATION

• Bank of Canada: Crypto Needs to Be Regulated Before it Gets Too Big (Report) (CryptoPotato)
• Coin Center Sues U.S. Treasury and IRS Over ‘Unconstitutional’ Tax Reporting Rule (BIC | TB)
• After months of hype, Lummis-Gillibrand crypto bill is more media event than law (TB)
• How Will Cynthia Lummis’s Proposed Bill Affect Bitcoin (NewsBTC)
• Yellen doubts crypto’s place in 401(k), says Congress could regulate (Cointelegraph | BIC)
• Another win for Ripple as court denies SEC’s motion to seal (Finbold | UToday | Bitcoinist)
• Lithuania To Ban Anonymous Accounts As Gov’t Eyes Stricter Crypto Regulation (Bitcoinist)
• Members of Congress Who Have Traded Crypto Since 2020 (Decrypt)

THE BITCOIN LAW ANNOUNCEMENT WAS A SPECIAL DAY IN HISTORY

THE BAD

• Long Con Crypto Scammers Preying on Those Looking for Love Via Dating Apps (Cryptoglobe)

PODCASTS

• The Pomp Podcast: #996 Jamie Catherwood On Using History To Understand The Market Today
• The Breakdown: Bitcoin Is Human Rights Technology
• Unchained: The Lummis/Gillibrand Crypto Bill: Is the 'Ancillary Token' Approach the Best Way?