Institutions Continue to Invest in Bitcoin Amid Market Resilience
Cryptocurrencies, notably Bitcoin and Ethereum, have remained stable amid geopolitical tensions but have not shown significant rallying. Key developments include:
- Bitcoin and Bitcoin Cash saw limited price movement, with BTC gaining 1.17% to $106,278.52.
- JPMorgan filed for a crypto-focused platform named JPMD for trading and digital asset services.
- Investment firm Strategy acquired over 10,100 BTC valued at $1.05 billion last week.
- Spot ETFs for BTC and ETH reported inflows.
- Regulatory efforts are advancing with the GENIUS stablecoin bill and CLARITY Act in Congress.
- Market sentiment is cautious due to potential prolonged conflict in the Middle East and upcoming Federal Reserve interest rate decisions.
- Capital flows are noted to be selective and risk-averse; broader altcoin sell-offs were observed.
- Institutional demand is rising, shifting market leadership toward corporations.
Upcoming Events
- June 18: IoTeX hard fork activating.
- June 20: BlackCoin activates SegWit on its mainnet.
- June 18: U.S. retail sales data release.
- June 18: Federal Reserve interest-rate decision expected to hold steady.
Market Movements
- DXY up 0.21% at 98.20.
- Gold futures down 0.49% at $3,400.40.
- Silver futures up 0.35% at $36.58.
Token Updates
- Ripple speculation about burning 10% of XRP supply is clarified as related to RealFi's token burn instead.
- CoinShares applied for a Solana spot ETF.
- ApeCoin (APE) plans to unlock 1.95% of its circulating supply worth $10.37 million on June 17.
This week's focus remains on regulatory developments, institutional activity, and market reactions to economic indicators.