Cryptocurrencies News

The global crypto market capitalization grew by $22 billion (+0.83%) on June 15, while Ethereum ETFs, MicroStrategy and Paradigm investment grabbed major bullish news headlines. 

The crypto market had a tumultuous week, with Fed jitters, SEC vs. Ripple court filings, and US BTC-spot ETF market outflows testing buyer demand.

While May’s flat CPI report offers some hope, the year-over-year picture remains concerning.

The PBOC’s pause in gold purchases and global trends suggest a significant shift by China into Bitcoin and cryptocurrencies may be on the horizon.

Coinbase rallied 8%, while XRP faced a weekly loss despite both battling the SEC in the Courts. Court rulings from both cases could impact the crypto market.

Steady job growth and wage increases indicate a robust U.S. labor market, supporting bullish sentiment despite slight revisions in previous months.

Investors are hoping the NFP report indicates a soft landing scenario, where job openings and hiring slow, but layoffs remain minimal.

Annual pay growth remained steady at a 5% rate for the third consecutive month, reflecting a deceleration in wage gains alongside job creation.

Investor sentiment toward the Fed rate path, US politics, and SEC vs. crypto case-related news influenced buyer demand for BTC and broader crypto market.

Stability in inflation and income growth suggests a steady economic environment, although slightly softer personal spending growth warrants attention.

The Fed’s Beige Book signals a bearish market outlook due to high interest rates and tight credit.

Former US President, Donald Trump has doubled down on his support for the cryptocurrency industry, emphasizing the importance of American dominance in the growing sector.

After another successful appeal from Do Kwon’s legal team, Montenegro’s High Court will once again decide whether to extradite the Terraform Labs co-founder to the United States or South Korea.

Ethereum price surged above $3,850 twice in the last 48-hours, as bullish investors front-run influx of funds into the newly-approved ETH spot ETFs.

ETH stole the show, with the SEC approving the first 19b-4 application, while the US BTC-spot ETF market extended its inflow streak to three weeks.

In a landmark decision on May 23, 2024, the U.S. Securities and Exchange Commission (SEC) has approved the first Ethereum Exchange-Traded Funds (ETFs).

The slight decrease in initial claims, combined with the stability in the insured unemployment rate, indicates that the labor market is holding steady.

Waller’s critical stance on the recent progress reflects a cautious optimism, grading the inflation report as “C-plus.”

Ethereum prices received a remarkable 20% boost on May 20 as media reports suggests an imminent approval of ETH spot ETF by the US SEC.

Fed officials remain cautious on rate cuts, focusing on inflation. Despite April’s data, a June rate cut is unlikely; markets eye September.