Alright, buckle up crypto fam, because the market’s been a rollercoaster and we’ve got a ton to unpack!
Photo source:www.cryptopolitan.com
First up, Federal Reserve board member Christopher Waller is spilling the tea – if tariffs come down, he’s anticipating rate cuts in the latter half of 2025. Let that sink in. These guys still seem to be playing catch-up, reacting to economic shifts rather than leading the charge, if you ask me.
Speaking of the establishment, the House of Representatives is finally getting around to discussing crypto market structure legislation on June 10th. About damn time! Hopefully, it’s not just more empty promises.
The SEC, predictably, is kicking the can down the road again, delaying reviews of multiple crypto ETFs, including the XRP and Litecoin ones. But, they did accept Canary Funds’ application for a Staked TRX ETF. Small victories, I suppose.
Meanwhile, the ECB is signaling a potential further rate cut as they believe inflation is nearly under control. They’re also warning about the damage US tariffs could do to global growth – sounds like they’re not thrilled about this geopolitical mess either.
Strategy is raising a whopping $2.1 billion through preferred stock to fund operations and… you guessed it, more Bitcoin. Seriously? Is this a legit investment strategy or just another speculative bubble waiting to pop? The risks are huge, people, remember that!
On-chain data from Glassnode shows Bitcoin hit a new all-time high, but profit-taking is way down. Like, from $2.1 billion in December to just $1 billion now. Seems like long-term holders are still bullish, while short-term traders are calling the shots. And a lot of money is flowing out of BTC and into altcoins – is this the beginning of an altseason, or are people just chasing quick gains?
Good news on the security front: roughly $160 million of the stolen funds from the Cetus hack have been successfully frozen and are heading back to the liquidity pool. That’s a solid win for the white hats.
Finally, analysts are predicting an NFT market recovery in early 2026, fueled by profit rotation after the peak of the Bitcoin cycle. Raoul Pal highlights digital assets as a hedge against currency devaluation.
Let’s break down NFTs a bit more: NFTs (Non-Fungible Tokens) are unique digital assets representing ownership of items like art, collectibles, or real estate. They’re built on blockchain technology, providing verifiable scarcity and authenticity.
The current NFT market is in a slump, but experts believe they’ll become increasingly important for diversifying portfolios.
The scalability and security of blockchain networks are crucial for wider NFT adoption. Remember Beeple’s $69 million NFT sale? Wild times.
CryptoPunks, once a symbol of the NFT boom, have seen their floor price drop substantially. But a recovery is still expected, driven by overall market cycles and new investment strategies.
