Ethereum (ETH) grabbed fresh attention on June 16 as futures open interest climbed to a yearly high of $36.56 billion. Prices bounced back above $2,600 and hovered near a key resistance level that has held for months. Traders piled into new positions, setting the stage for a big move in either direction. Related Reading: Amid Bitcoin Hype, Seasoned Trader Predicts Sudden Drop To This Level Futures Open Interest Hits Yearly High According to CoinGlass data, open interest in ETH futures jumped sharply over three days, hitting $36.56 billion on Monday. That number marks the highest level since last year. It shows that many traders are using borrowed funds to bet on where Ethereum will go next. Price Tests Multi‑Year Resistance ETH rose about 4.5% in a single session. Based on technical charts, that rally pushed ETH right up to a long‑standing descending trendline. Investors have watched that line for over a year. It sits just above the 50‑week moving average, while the 200‑week average lies just below. If ETH can clear and hold above these levels, it may signal room to run. But weak trading volume could mean bulls need more firepower before taking charge. ETF Flows Show Steady Support US spot funds tied to Ethereum saw a small outflow of $2.18 million on the same day, marking the first net withdrawal in 19 days. Yet weekly inflows still totaled $528.12 million, pushing total assets under management in these ETFs beyond $10 billion. Institutional Backing Expands ETH Reach Major asset managers are also getting more creative with Ethereum. Companies such as BlackRock and Fidelity have begun rolling out tokenized treasury products and stablecoin‑backed funds that link directly to ETH. Related Reading: Ethereum Whales Feast While Retail Flees—ETH Ocean Just Got Hungrier Based on statements by those firms, these latest products are intended to expand access for large institutions that have avoided so far. They support the notion that Ethereum is not only capable of fueling DeFi tests, but also applications in the real world. Ethereum Drift Remains Steady Before Potential Ripples Meanwhile, market statistics shows Ethereum traded calmly at $2,630 on June 16, showing a 4% increase in the last 24 hours. Futures markets are warming up, with volumes rising steeply as large players pour into ETH-based contracts. Speculative positions usually foretell choppy action. As increasing amounts of money move into leveraged positions, even modest moves in price can cause forced liquidations—sometimes on both the long and short sides. When that occurs, volatility increases. That is to say, today’s tranquil chart can become jagged quickly once those mammoth bets begin to be unravel. Featured image from Unsplash, chart from TradingView
Bitcoin's short-term movement has been pretty interesting lately.
Paradigm’s chief legal officer and general counsel said if Roman Storm is found guilty, it could slow future software development in the crypto and fintech industries.
JPMorgan Chase has filed a trademark application for “JPMD,” which has sparked rumors that it may be preparing…
The post XRP Lawsuit New Update: Appeals Suspended, Next Big Decision Due by August 15 appeared first on Coinpedia Fintech News In the latest update from the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), both parties have asked the Second Circuit Court to keep the appeals process paused while they wait for a decision from the district court. According to a filing dated June 16, 2025, the SEC submitted a status report to the court, requesting that the appeals stay on hold until at least August 15, 2025, when they’ll provide another update. This move comes as Ripple and the SEC continue working through a possible settlement that could reshape the outcome of the long-running case. #XRPCommunity #SECGov v. #Ripple #XRP In light of the pending motion for an indicative ruling, the parties have requested that the Second Circuit continue to hold the appeals in abeyance, with the @SECGov to file a status report by August 15, 2025. https://t.co/7oQvL5Rx7U — James K. Filan (@FilanLaw) June 17, 2025 Earlier this year, both sides reached an agreement in principle to settle the case, but it requires the district court’s approval to modify the final judgment. Under the proposed deal, Ripple would pay a reduced penalty of $50 million, down from $125 million, with the remaining funds returned to Ripple. The SEC would also agree to lift the injunction against the company. However, a previous motion for this change was denied by the district court in May because it didn’t explain why “exceptional circumstances” justified the modification. Ripple and the SEC have since filed a new joint motion on June 12, providing additional reasons and requesting an indicative ruling from the court. Until that decision is made, both Ripple and the SEC agree it’s best to keep the appeals paused. If the district court grants their request, both sides would then ask the Second Circuit for a limited remand to finalize the settlement. On the flip side, XRP price gained 7% and hit a high of $2.34 before hitting a reverse. The price is now sitting at $2.23.
Over 400,000 BTC left exchanges since December 2024, reducing trading supply. Bitcoin price rose 50% while exchange balances hit a yearly low. A bullish pennant pattern signals an 18% breakout toward $127,342. Over the past six months, Bitcoin exchange reserves fell by 400,000 BTC, according to on-chain data from CryptoQuant. A chart shared by Crypto Rover on June 16 shows reserves dropped from around 2.8 million BTC in late December 2024 to 2.4 million by mid-June 2025. Bitcoin: Exchange Reserve – All Exchanges. Source: CryptoQuant / X During the same period, Bitcoin’s price increased from below $70,000 to over $105,000. The chart shows an inverse pattern between price and supply on exchanges, with assets moving off platforms while the price climbed. Lower Exchange Balances May Trigger Volatility The data from CryptoQuant shows that Bitcoin’s availability on exchanges reached its lowest point in over a year. This trend intensified during May and June 2025. At the same time, the price showed stronger gains, with the upward movement accelerating past the $90,000 mark. This timing suggests that large investors may have added to their positio… The post 400,000 BTC Exit Exchanges Amid Falling Supply and Rising Price appeared first on Coin Edition .
Senator Warren questions technology firms' role in the GENIUS Act. Stablecoin benefits for tech giants could affect market competition negatively. Continue Reading: Senator Warren Challenges Crypto Legislation with Strong Opposition The post Senator Warren Challenges Crypto Legislation with Strong Opposition appeared first on COINTURK NEWS .
Bitcoin experienced a sharp decline following reports of a possible meeting between former President Donald Trump and his advisers, highlighting the cryptocurrency market’s sensitivity to political developments. This event not
US President Donald Trump has signed an executive order directing federal agencies to implement the US-UK trade agreement, which was unveiled in May. The deal dramatically reduces tariffs on British exports and expands the US access to key UK markets. The executive order, signed just hours after a brief meeting with UK Prime Minister Keir Starmer on the sidelines of the G7 summit in Canada, is expected to “operationalize” the agreement. Central to the deal is reducing the US automotive tariff from 27.5% to 10% for the first 100,000 UK-manufactured vehicles shipped to the American market annually. “This is a very good day for both of our countries, a real sign of strength,” Starmer said, confirming the new terms will immediately take effect. The agreement also shields British exports of jet engines and other aerospace components from US tariffs linked to a national security investigation Trump had launched into the aerospace sector. That exemption hinges on UK commitments to exclude China from sensitive defense and technology supply chains. Tariff relief spurs industry divides as UK bioethanol, steel sectors raise alarm While industries such as automotive and aerospace are celebrating the deal, the agreement has provoked controversy in other sectors. The UK has granted the US a tariff-free quota of 1.4 billion liters of ethanol, equivalent to the country’s entire annual demand. UK bioethanol producers have warned the decision threatens the viability of domestic production. Britain also agreed to enhance market access for American beef and industrial goods in exchange for the US tariff cuts. Negotiations regarding the treatment of UK steel and aluminum are still ongoing. The trade deal promises to eliminate US tariffs on these exports, but technical and legal hurdles have delayed implementation. British officials say they are still working with the US to finalize a quota system that would allow UK steelmakers to sidestep the 25% global steel tariff imposed by Trump under national security provisions. The situation is further complicated by US rules that require steel to be “melted and poured” in the country of origin to qualify for tariff relief—criteria that much of Britain’s steel, which is reprocessed from imported material, does not meet. As negotiations continue, Trump has offered the UK a temporary exemption from his newly doubled global steel tariff of 50%, giving time to resolve the issues. Starmer pushes rapid rollout as UK industries react to landmark US trade deal Under mounting pressure at home to secure relief for industries battered by tariffs, Starmer emphasized the importance of swift implementation. The UK automobile sector, in particular, has applauded the car tariff reduction, calling it a much-needed boost for exports amid economic uncertainty. Despite objections from the UK’s bioethanol industry, the trade pact marks one of the most comprehensive bilateral deals between the two nations in recent years and a shift in transatlantic economic relations. “We just signed it, and it’s done,” Trump told reporters, adding that the agreement reflects a new chapter in US-UK cooperation. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Bitcoin price started a fresh increase and tested the $108,800 zone. BTC is struggling to rise further and is correcting gains below $108,000. Bitcoin started a fresh increase above the $107,000 zone. The price is trading above $106,800 and the 100 hourly Simple moving average. There was a break below a bullish trend line with support at $107,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $105,500 zone. Bitcoin Price Starts Fresh Increase Bitcoin price started a fresh increase from the $104,500 support zone. BTC climbed above the $105,500 and $106,200 levels to enter a positive zone. The price even jumped above the $108,000 resistance. However, the bears remained active amid rising global conflict fears. A high was formed at $108,898 and the price is now correcting gains. There was a move below the $108,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $104,529 swing low to the $108,898 high. Besides, there was a break below a bullish trend line with support at $107,800 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $106,800 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $107,600 level. The first key resistance is near the $108,000 level. The next key resistance could be $108,800. A close above the $108,800 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level. Any more gains might send the price toward the $112,000 level. More Losses In BTC? If Bitcoin fails to rise above the $108,000 resistance zone, it could start another decline. Immediate support is near the $106,700 level and the 50% Fib retracement level of the upward move from the $104,529 swing low to the $108,898 high. The first major support is near the $106,200 level. The next support is now near the $105,500 zone. Any more losses might send the price toward the $103,500 support in the near term. The main support sits at $102,000, below which BTC might gain bearish momentum. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $106,700, followed by $105,500. Major Resistance Levels – $107,600 and $108,000.