According to recent data from The Data Nerd, a significant crypto whale identified by the address BwsWU has been actively trading TRUMP tokens. In the previous month, this investor acquired
Ethereum price started a fresh increase above the $2,550 zone. ETH is now facing resistance near the $2,640 and $2,665 levels. Ethereum started a fresh increase above the $2,550 level. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a key rising channel forming with support at $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it trades below the $2,600 support zone in the near term. Ethereum Price Consolidates Gains Ethereum price started a decent upward move above the $2,500 zone, beating Bitcoin . ETH price was able to climb above the $2,520 and $2,550 resistance levels. The price even cleared the $2,600 resistance zone and tested the $2,665 level. A high was formed at $2,677 and the price is now consolidating gains. There was a minor move below the $2,620 level. The price dipped below the $2,620 level and the 23.6% Fib retracement level of the upward move from the $2,476 swing low to the $2,677 high. Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key rising channel forming with support at $2,600 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $2,640 level. The next key resistance is near the $2,665 level. The first major resistance is near the $2,720 level. A clear move above the $2,720 resistance might send the price toward the $2,780 resistance. An upside break above the $2,780 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,880 resistance zone or even $2,920 in the near term. Downside Break In ETH? If Ethereum fails to clear the $2,665 resistance, it could start a fresh decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,575 zone and the 50% Fib retracement level of the upward move from the $2,476 swing low to the $2,677 high. A clear move below the $2,575 support might push the price toward the $2,500 support. Any more losses might send the price toward the $2,420 support level in the near term. The next key support sits at $2,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,575 Major Resistance Level – $2,665
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Macro Events and Vitalik's Bold Plan to 10x Ethereum Layer 1 Could Propel ETH Past $3000: OKX's Lennex Lai ETH traders are eying $2600 as Asia begins its business day, but OKX's Chief Commercial Officer Lennex Lai sees an easy path for the token to hit $3000 if Vitalik Buterin can get rid of Ethereum's reliance on Layer-2s. Layer 1 refers to the main blockchain infrastructure, such as Ethereum itself, while Layer 2 solutions are secondary systems built on top of Layer 1 to enhance scalability and speed up transactions. "Vitalik’s pivot to scale Ethereum Layer 1 by 10x will be a game-changer, shifting focus away from heavy reliance on Layer 2 solutions like sharding," Lai said in a note to CoinDesk, referring to recent comments Buterin made at ETHGlobal Prauge . "On our platform, ETH perpetual futures made up 44.2% of trading volume over the past 7 days, showing us that sophisticated investors are closely tracking this evolution," he continued. Lai points to this week's key macro events, like the ECB's rate decision and U.S. jobs data, as factors that could significantly impact risk-on appetite, potentially pushing ETH past $3,000 short-term, though Ethereum’s long-term success hinges on Vitalik's ambitious roadmap. Elsewhere, CoinDesk Research's technical analysis model bot highlights Ethereum's resilience above critical support at $2,600, driven by institutional inflows nearing $1.2 billion and significant whale buying, positioning ETH for a possible altcoin rally. Hashed CEO Simon Kim Says Korea Election Boosts Crypto, Stablecoins, and AI Simon Kim, the CEO of Korea's largest crypto fund Hashed, believes crypto has become a critical force in South Korean politics, and it's going to be business as usual for the industry under the country's new left-leaning President Lee Jae-myung. "Officially, crypto is more popular than the stock market in Korea," Kim said in a recent interview with CoinDesk. He pointed to data showing 16.29 million daily active crypto traders compared to 14.24 million active equity traders , noting that political parties now see supporting crypto as essential to winning elections. South Korea’s crypto policies also continue to be closely tied to U.S. regulatory developments, according to Kim. "All the Korean politicians are following the U.S.," he explained, noting how American institutions and regulators are guiding global standards. Kim added that Korea’s previously set crypto capital gains tax policy, scheduled to begin in early 2027 , remains unchanged. Kim expects Lee's administration to develop stablecoin policy, as they currently account for about one-tenth of Korea’s crypto trading volume. Issuing a stablecoin in Korea might be complicated because the Korean won is a tightly controlled onshore currency with strict capital restrictions, making it challenging to integrate into borderless crypto markets. Kim said that in his conversations with some policymakers, they say there is "no kind of benefit to adopting stablecoin won in the Korean market," given its advanced payments ecosystem. But stablecoins are here to stay, as Kim says they already account for one-tenth of trading volume in the country, and there's a growing recognition that they need to be safely integrated into the economy, where they can be taxed. "Stablecoins are not just a payment network," he said. "It's building a unique digital platform enabling smart contracts and making an autonomous economy." Beyond crypto, Kim expects Lee’s administration to pursue substantial investment in artificial intelligence. Yet Kim expressed skepticism about plans to create a sovereign generalized AI platform comparable to U.S. giants like OpenAI. Instead, he argued Korea’s strength is in "physical AI", building specialized solutions tailored to sectors where Korea excels, including semiconductors, electronics, and advanced manufacturing. “I believe the new administration has some sense that we have unfair advantages in the physical AI ecosystem. That's the point I'm very excited about,” he said. News Roundup Circle Prices IPO at $31 Per Share Circle priced its IPO at $31 per share, surpassing the anticipated range of $24 to $26, raising approximately $1.1 billion and valuing the stablecoin issuer at around $6.9 billion, CoinDesk previously reported . The offering included about 34 million shares, significantly more than the initially planned 24 million, indicating strong market demand. Trading under the ticker "CRCL," Circle will debut Thursday on the New York Stock Exchange, marking a major milestone after a previous failed SPAC attempt in 2021. As issuer of the USDC stablecoin, Circle's listing arrives amid renewed legislative interest in digital assets and potential regulatory clarity, potentially strengthening investor confidence amid recent crypto volatility. Trump's Crypto Connections Under Scrutiny as US Congress Debates Crypto Regulation Bill U.S. House Republicans are advancing legislation to regulate crypto markets through the Digital Asset Market Clarity Act, CoinDesk previously reported , holding two hearings Wednesday in preparation for a potential committee markup next week. Republicans argue the bill urgently addresses the crypto industry's demand for clear regulatory frameworks to prevent innovations from moving offshore, highlighting the risk of the U.S. falling behind Europe and Asia in crypto oversight. Democrats, however, criticize the legislation as rushed, complex, and lacking sufficient consumer protection, particularly citing unresolved conflict-of-interest concerns related to President Donald Trump's personal cryptocurrency business activities. Democrats insist the bill needs stringent safeguards and transparency measures, as Representative Jim Himes emphasized, to secure bipartisan support, while Republicans largely dismiss these allegations as politically motivated distractions. Market Movements: BTC: Bitcoin saw notable volatility, swinging 1.67% amid significant institutional withdrawals, struggling to hold support above $105,000 as trade disputes heightened market uncertainty. ETH: Ethereum surged 4%, rebounding from a strong support near $2,590 driven by institutional buying and whale accumulation, forming a potential base for an upward breakout. Gold: Gold rallied over 0.80% to $3,382, recovering from a $3,343 low after weaker U.S. economic data and escalating US-China trade tensions boosted safe-haven demand Nikkei 225: Japan's Nikkei 225 dipped 0.39% at the open amid mixed Asia-Pacific trading, driven by concerns over a cooling U.S. job market S&P 500: The S&P 500 closed modestly higher at 5,970.81 Wednesday, supported by tech shares despite concerns over weak hiring data and escalating trade tensions. Elsewhere in Crypto: Trump’s CFTC pick Brian Quintenz set for Senate hearing on June 10 (The Block) Ethereum Foundation expects 2025-26 to be ‘pivotal’ for the ecosystem as it reforms its treasury management (The Block) Vitalik Buterin Uses Privacy Tool Railgun Again, Signaling Ongoing Embrace of On-Chain Anonymity (CoinDesk)
Binance is set to launch the 1000000BOBUSDT perpetual contract on June 5, 2025, featuring up to 50x leverage, marking a significant expansion in its USDS-margined derivatives offerings. This launch is
Singapore’s Monetary Authority enforces stringent licensing requirements on overseas crypto operations, signaling a major regulatory shift for the digital asset industry. This move compels Digital Token Service Providers to either
Singapore-based trading desk QCP Capital says the options market is sending an unmistakable signal: large players are quietly positioning for a break to $130,000 by the end of Q3, even as spot Bitcoin languishes near $105,000. $130,000 Bitcoin Bets Heating Up In a note to clients on Wednesday, the firm highlighted “a surprise uptick in job openings” that lifted risk appetite across equities, nudging the S&P 500 toward the psychologically charged 6,000 mark. “A steady NFP would cement the Fed’s narrative of a resilient labour market, reinforcing expectations that rates will remain on hold,” QCP wrote, adding that front-end Bitcoin volatility has already “slipped below 40 vol” as traders park on the sidelines before Friday’s payroll print. Despite the calm surface, options flows tell a livelier story. “September $130K calls were lifted at 47 vol,” QCP observed, pointing to “pockets of topside interest heading into Q3.” With the one-month volatility term structure now flatter than at any point since May, opportunistic funds have found it inexpensive to buy long-dated vega while selling short-dated gamma. The dynamic mirrors a broader decline in equity volatility—VIX is plumbing its own three-month lows—and has left Bitcoin’s implied curve looking “wholly normalised,” QCP noted, with skew suggesting “little directional conviction” in the near term. Related Reading: Bitcoin Price Crash: Why $107,500 And $103,500 Are The Levels To Watch That benign backdrop may not last. The desk warned that tariff frictions and Washington’s so-called “Big Beautiful Bill” could roil macro data just as the US debt-ceiling saga re-enters the headlines. “In the absence of a clear catalyst, BTC is unlikely to break materially out of its current range,” the note said, but Q3 “could prove more challenging” as fiscal risks and trade tensions “introduce potential headline volatility.” China has already flashed early signs of stress: futures volumes in 10- and 30-year Chinese government bonds have fallen to their lowest levels since February, a fact QCP attributes to “broader risk aversion and sidelined positioning.” Meanwhile, markets await any progress on an anticipated Xi-Trump dialogue—an event that could shift sentiment on tariffs. For now, however, Bitcoin remains pinned. Spot has hugged the $105,000 handle for five straight sessions, open interest is light, and realized volatility has compressed into a mid-teens annualized band—conditions that historically precede a sharp expansion. Whether that expansion resolves higher or lower hinges on the very catalysts traders are bracing for: payrolls data, central-bank rhetoric, and the tariff announcements that dominated headlines earlier in the year. Related Reading: Bitcoin 3–5 Year Holders Slow Selloff—Waiting for Higher Prices? Yet the willingness of sophisticated desks to pay up for September upside is hard to ignore. A cluster of large prints in the $130,000 strike, executed at implied vols roughly seven points above the prevailing curve, suggests at least some investors expect Bitcoin to test new highs before month-end September. QCP stops short of endorsing the trade outright but underscores the asymmetry: “With vols crushed and skew flat, the cost of owning topside gamma has rarely looked this attractive,” the firm writes. That calculus—cheap optionality against a potentially volatile macro backdrop—explains the growing divergence between spot lethargy and options optimism. If the payroll report arrives soft, the Fed pivot narrative could re-ignite; if tariff negotiations sour, Bitcoin’s digital-gold appeal may resurface. Either path feeds volatility, and volatility is precisely what long-vega buyers are banking on. At press time, BTC traded at $104,648. Featured image created with DALL.E, chart from TradingView.com
Circle's public offering sparks immense interest from traditional finance investors. The demand could raise the offering price beyond initial expectations. Continue Reading: Circle’s Public Offering Draws Enormous Interest from Finance Sectors The post Circle’s Public Offering Draws Enormous Interest from Finance Sectors appeared first on COINTURK NEWS .
The recent House Financial Services Committee hearing on the Crypto Market Structure Bill has intensified scrutiny on former President Donald Trump’s involvement in cryptocurrency, highlighting concerns over political influence in
Brian Quintenz, President Donald Trump’s nominee to lead the US Commodity Futures Trading Commission (CFTC), is set to face the Senate Agriculture Committee on June 10. The committee oversees commodities and futures regulation and will hold a hearing to evaluate Quintenz’s nomination as chair of the powerful financial regulatory agency. Quintenz is a former CFTC commissioner, having served on the committee from 2017 to 2021. His nomination comes during a period of great change for the commission. Two commissioners, Summer Mersinger and Christy Goldsmith Romero, resigned their positions in late May. That has left the five-member panel with only two confirmed commissioners as of June 1. Rostin Behnam, the previous chairman, left in February. The CFTC is overseen by acting Chairwoman Caroline Pham and Commissioner Kristin Johnson. But both have publicly declared their plans to depart, Pham for a private-sector position and Johnson to step down later this year. That’s because Quintenz’s confirmation could lead to a wholesale change in leadership at the CFTC. Crypto ally moves to lead CFTC Quintenz is a known proponent of cryptocurrencies. In 2021, he joined Andreessen Horowitz’s crypto-focussed venture arm, a16z Crypto , as head of policy. In that role, he advocated for lighter regulation of the digital asset industry and regularly took the position that it was the CFTC’s job, not the SEC’s, to take the lead on regulating cryptocurrencies. He is one of the types in the crypto world who think our current regime, especially from the SEC, is too harsh. The industry is receptive to a Quintenz-led CFTC, seeing him as someone who gets both innovation and markets. If he is confirmed, Quintenz will probably weigh in on issues such as decentralized finance (DeFi), crypto derivatives, prediction markets, and clearing systems involving blockchains, all of the topics the CFTC is currently evaluating. His stewardship could influence how US policy evolves in response to the rapidly changing world of digital finance, such as potential legislation around stablecoins and digital commodities. While he has the backing of the crypto world, Quintenz’s nomination isn’t without controversy. He filed financial disclosures before the hearing reflecting holdings valued at about $3.4 million in crypto and industry-related companies. Ethics watchdogs have sounded the alarm about how this stake could influence his neutrality if he were to be confirmed. There’s a particular concern about his board seat with Kalshi, a prediction market platform that recently tussled with the CFTC over its pursuit to offer contracts linked to US elections. Quintenz has recused himself from some CFTC cases related to Kalshi but has not agreed to take himself out of Kalshi cases in the future. Critics say this could undermine trust in the commission’s independence and objectivity. Trump seeks to reshape CFTC leadership If confirmed by the Senate, Quintenz would be the only sitting commissioner named by Trump. However, with Pham and Johnson due to step down, the president was given the opening to nominate as many as four new commissioners. That would empower the president to have broad control over the CFTC’s leadership for the first time in his current tenure. No more than three commissioners can be members of the same political party under CFTC rules. Because Quintenz is a Republican, Trump would have been allowed to nominate two more Republicans and two Democrats to complete the panel. Each nominee would still need to be confirmed by the Senate. This remolding of the CFTC could dramatically change the regulatory philosophy of the agency. The commission has long been seen as more tech and innovation-friendly than the SEC and could lean even further in that direction under Trump’s picks. This shift could affect not just the crypto markets but also futures, options, and swaps — pillars of the United States’ financial infrastructure. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
The Ethereum Foundation has unveiled a new treasury policy designed to optimize resource allocation and bolster its DeFi ecosystem amid a critical phase for the blockchain network. This policy introduces