Weekly Crypto Roundup: Bitcoin Dips, ETFs, and Market Sentiment 📉🚀
Weekly Crypto Market Update: Bitcoin ETFs and Market Insights 📉📊
📈 Crypto Weekly Update: Bitcoin ETFs and Market Insights 📉
Greetings Crypto Enthusiasts!
This week brought pivotal movements in the crypto sphere. Bitcoin faced headwinds after a stellar 19-day run for spot ETFs, with futures interest holding strong at around $35 billion. Despite the dip, June saw inflows of $2 billion into crypto investment products, showcasing robust investor confidence.
Excitingly, ASX's approval of its first Bitcoin ETF marked a historic milestone, signaling broader institutional adoption in the digital asset space.
In blockchain news, TON surpassed Ethereum in daily active addresses, reaching an all-time high. Institutional investments in cryptocurrencies soared to over $1 billion in May, driven largely by ETH and other key tokens.
Regulatory developments were also noteworthy, as former U.S. President Trump advocated for increasing domestic Bitcoin production to bolster national competitiveness in AI.
Amidst global economic indicators, the UK economy reported flatlining growth, contrasting with varied global economic reports impacting market sentiment.
Looking forward, Bitcoin continues to navigate key resistance levels, trading between $66,000 and $72,000. Ethereum's decoupling from Bitcoin dynamics precedes an imminent ETF launch amid shifting order flows.
Key Events This Week:
Monday: US Empire State manufacturing index
Tuesday: AUS cash rate, RBA rate statement; US retail sales report
Wednesday: UK yearly CPI report
Thursday: UK monetary policy and official bank rate
Friday: EU, UK, Germany, and US flash manufacturing and services PMI reports
Stay tuned as we unravel the latest trends and insights shaping the crypto landscape! Don't miss out on our next newsletter—subscribe for your weekly dose of crypto news and analysis. 🚀💬
Cheers.
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