💰 Arthur Hayes predicts impending bull run for Bitcoin as G7 central banks start easing policy

BitMEX co-founder Arthur Hayes believes the recent policy shifts by global central banks herald the start of a significant bull market for Bitcoin and high-potential altcoins. Hayes highlighted the recent rate cuts by the Bank of Canada (BOC) and the European Central Bank (ECB) as pivotal moments. These decisions mark the first time in years that G7 countries have reduced their benchmark interest rates.

Source

https://www.tg-me.com/CryptoMarketTime

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💰 US spot bitcoin ETFs achieve record-breaking 18-day streak of net inflows

U.S. spot bitcoin exchange-traded funds are now in their longest streak of positive flows since listing, recording their 18th consecutive day of net inflows on Thursday. The 11 funds had a total net inflow of $217.78 million, with most of the inflows coming from BlackRock’s IBIT, the largest spot bitcoin ETF by net assets. IBIT drew in $350 million worth of net inflows on Thursday, according to data from SoSoValue. Fidelity’s and VanEck’s bitcoin ETFs also saw net inflows, though significantly smaller than BlackRock’s.

Source

https://www.tg-me.com/CryptoMarketTime

📊 Crypto investment products saw $2 billion in inflows last week amid rate cut anticipation: CoinShares

Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $2 billion in the first week of June, a fifth-consecutive week of positive inflows, according to CoinShares' latest report. Last week’s net inflows matched those for the whole of May, bringing the five-week streak to a total of $4.3 billion and assets under management above the $1 billion level for the first time since March.

Source

https://www.tg-me.com/CryptoMarketTime

🪙 Ethereum futures funding rate volatility mirrors significant price movements

Ethereum’s futures perpetual funding rate across all exchanges has exhibited significant fluctuations, as observed in recent market trends. The perpetual funding rate, a key indicator for market sentiment and trader positioning, demonstrated volatility throughout the first half of 2024. Notably, spikes in the funding rate often coincide with notable price movements in Ethereum, suggesting shifts in market sentiment.

Source

https://www.tg-me.com/CryptoMarketTime

🪙 ProShares files S-1 for spot Ethereum ETF, expands on BNY Mellon and Coinbase roles

ProShares filed an S-1 registration statement for its spot Ethereum ETF on June 11, confirming and expanding on the roles of various fund participants. According to the filing, Coinbase Credit will serve as the company’s trade credit lender, allowing it to borrow Ethereum (ETH) and cash for certain transactions that exceed its trading balance. Bank of New York Mellon will serve as transfer agent, processing purchase and redemption orders and maintaining fund ownership records.

Source

https://www.tg-me.com/CryptoMarketTime

💰 Glassnode says institutional cash-and-carry trades are influencing US spot bitcoin ETF flows

Glassnode analysts said on Wednesday that a major factor affecting demand-side pressure for U.S. spot exchange-traded funds is institutional traders adopting a cash-and-carry arbitrage strategy. According to analysts, since traders are buying bitcoin spot and immediately hedging it by selling bitcoin futures, this could reduce the immediate upward pressure on the spot price that would otherwise be seen if they were only buying the spot asset.

Source

https://www.tg-me.com/CryptoMarketTime

💰 Terraform agrees to pay $4.47 billion in proposed judgment with the SEC

Terraform Labs agreed to pay $4.47 billion in fines after reaching a settlement with the U.S. Securities and Exchange Commission over its algorithmic stablecoin that fell dramatically in 2022. The SEC filed a "proposed final consent judgment" on Wednesday, asking Judge Jed Rakoff of the U.S. District Court for the Southern District of New York to approve the plan.

Source

https://www.tg-me.com/CryptoMarketTime

💰 Texas wants to use bitcoin miners for grid stability as power demand soars

The Electricity Reliability Council of Texas (ERCOT) is considering integrating Bitcoin miners as Controllable Load Resources (CLRs) to enhance grid stability. During a Texas Senate Business & Commerce Committee hearing, ERCOT CEO Pablo Vegas emphasized that classifying more Bitcoin miners as CLRs would improve the reliability of the state’s power grid.

Source

https://www.tg-me.com/CryptoMarketTime

💰 Bitcoin miner Bitfarms stock surges after raising 2025 guidance to over 35 EH/s

Bitcoin miner Bitfarms has reiterated the Riot Platforms takeover proposal would not be in the best interest of its shareholders and later announced it entered into an agreement to develop its first large-scale mining site in the United States, which will boost the miner's overall power capacity. As a result, this raises Bitfarms' 2025 power capacity to 648 megawatts, 170% growth from its current capacity and up 47% from its targeted year-end 2024 capacity.

Source

https://www.tg-me.com/CryptoMarketTime

💰 MicroStrategy Ups its Bitcoin-Centered Convertible Note Offering to $700 Million

The world’s largest corporate holder of BTC increased its target by 40%. Just a day after announcing a $500 million convertible senior note offering to purchase more BTC, among other goals, Michael Saylor’s brainchild increased its target to $700 million. The company’s shares have been on a wild ride in 2024, perhaps due to the developments around the Bitcoin landscape, but have soared by triple digits since the start of the year.

Source

https://www.tg-me.com/CryptoMarketTime

🪙 Tether Debuts New 'Synthetic' Dollar Backed by Tokenized Gold in Tokenization Push

Tether, the company behind the $110 billion stablecoin (USDT), debuted Monday a new token minting platform called Alloy on the Ethereum network that lets users create tokens collateralized by Tether's tokenized gold (XAUT). "Alloy by Tether is an open platform that allows to create collateralized synthetic digital assets and will soon be part of the new Tether digital assets tokenization platform, launching later this year, Paolo Ardoino, CEO of Tether," said in an X post.

Source

https://www.tg-me.com/CryptoMarketTime

💰 Bitcoin dominance exceeds 56% as ETH/BTC ratio heads lower

As Bitcoin's dominance surges past 56%, the Ethereum to Bitcoin (ETH/BTC) ratio finds itself in an unfamiliar territory, trading at 0.052. This underperformance has persisted despite a brief spike following the approval of an ETF. Analyzing the cyclical movements of the ETH/BTC ratio since its low in June 2022 reveals some compelling patterns. Interestingly, in prior cycles, Ethereum consistently outperformed Bitcoin—often by over 200%.

Source

https://www.tg-me.com/CryptoMarketTime

🪙 Bitwise discloses $2.5 million seed investment in latest amended filing for its spot Ethereum ETF

Bitwise updated its registration form for its spot Ethereum exchange-traded fund as the asset management firm, among others, waits for the go-ahead from the U.S. Securities and Exchange Commission to list and trade those products. Bitwise included some new details in its updated S-1 form for the Bitwise Ethereum ETF, including language about a $2.5 million seed investment.

Source

https://www.tg-me.com/CryptoMarketTime

🟣 Kraken discloses it was exploited for nearly $3 million in bug that has now been fixed

Kraken disclosed nearly $3 million was taken from its wallets following a bug-related exploit that's since been fixed. The crypto exchange received a bug bounty program alert on June 9, according to Kraken’s Chief Security Officer Nick Percoco. The alert warned it to an “extremely critical” bug, allowing an attacker to artificially inflate their balance on its platform.

Source

https://www.tg-me.com/CryptoMarketTime