Welcome, dear reader, to the morning briefing of US Crypto News—your indispensable guide to the cryptic world of cryptocurrencies, where fortunes are made and lost faster than you can say “blockchain!”
Pour yourself a steaming cup of coffee, for we are about to delve into the labyrinthine thoughts of experts regarding Bitcoin’s (BTC) price outlook. They speak of structural signals bubbling beneath the surface, much like a pot of borscht left unattended. And lo! The macroeconomic forces are casting their long shadows over our dear Bitcoin.
Crypto News of the Day: Bitcoin’s Structural Signals Point to Imminent Breakout, Markus Thielen Says
Ah, Bitcoin! It is pressing against a formidable technical ceiling this week, and the next move could very well dictate the fate of crypto markets throughout the sweltering summer. In the latest 10X Research, our sage Markus Thielen warns that while prices seem to be stuck in a monotonous range, the deeper market structure is aligning in a manner not seen in months—like a group of peasants finally agreeing on a village dance!
“Funding rates, trend breakouts, and contrarian positioning are lining up in a way we haven’t seen in months. The market setup appears significantly different from what most investors anticipated just weeks ago,” Thielen wrote, perhaps while sipping on a suspiciously strong kvass.
Thielen notes that negative funding rates, typically a contrarian bullish indicator, are reemerging alongside a robust demand for spot trading and technical breakouts. It’s like a game of chess where the pawns are suddenly more valuable than the kings!
“Few notice the deeper structural signals emerging beneath the surface,” he said, calling this a “high-conviction signal” for potential upside. Or perhaps just a mirage in the desert of despair.
While Bitcoin gazes longingly at a decisive breakout, Ethereum, poor thing, continues to wallow in underperformance. According to Thielen, a breakdown in Ethereum’s core fundamentals is quietly confirming its weakness, even as some altcoins show early signs of life—like a stubborn weed in a well-tended garden.
“Some altcoins are starting to stir, but only a few are flashing green,” he added, as if he were discussing the state of his neighbor’s vegetable patch.
Stablecoin dynamics are also shifting, dear reader! While Circle celebrates its IPO with much fanfare, Tether is back to minting at full speed, like a baker churning out loaves of bread. Blockchain analytics firm Lookonchain revealed that Tether minted a staggering $1 billion USDT on the Tron blockchain.
Tether just minted another 1B $USDT on #Tron after 3 weeks.
Last time, #Tether minted 2B $USDT on May 21 — and the very next day, $BTC broke above $111K to hit a new all-time high.
— Lookonchain (@lookonchain) June 9, 2025
This marks its second major mint in less than a month, following the issuance of $2 billion worth of USDT on May 21, amidst significant market volatility. A renewed appetite for crypto liquidity, perhaps? Or just a hunger for more digital bread?
Meanwhile, analysts are whispering that Circle’s IPO echoes past crypto market tops, like the ominous tolling of a church bell before a storm. They suggest that the stablecoin issuer going public may be a sell signal for Bitcoin.
“Circle IPO is a trap for retail. Americans don’t need USDC. They already have USD. As for foreigners, they already have USDT and others. This IPO is great for insiders but not for retail,” investor Bernard Beckett commented, perhaps while shaking his head in disbelief.
Circle’s IPO Draws ETF Spotlight
Elsewhere, the market narrative surrounding Circle is gaining momentum following its IPO. Analyst Eric Balchunas noted that the public issuance is about to get the ETF (exchange-traded fund) treatment, which sounds as exciting as a new flavor of kvass!
Recent IPO Circle about to get the ETF treatment. Already filings for a 2x Circle ETF and a covered call strategy.
— Eric Balchunas (@EricBalchunas) June 9, 2025
Henry Jim of ETF Hearsay has set a preliminary effective date of August 20, 2025, which could place Circle alongside other major single-stock ETF plays. Such a move would boost its visibility among retail and institutional investors alike, like a peacock strutting its feathers!
According to a new report from QCP Capital, market volatility remains strikingly muted despite Bitcoin’s bullish structural signals. It’s as if the market is holding its breath, waiting for the next act in this grand play.
“Implied volatility continues to come under pressure, with BTC stuck in a tight range as summer approaches,” read the report, echoing the sentiments of a bored spectator at a long-winded performance.
While 1-year implied volatility looks cheap, realized volatility is even lower. This suggests that few traders expect fireworks in the near term—more like a damp squib than a grand finale!
“Historical data over the past two years suggest that frontend vols tend to drift further into July…without a breakout above $110,000 or below $100,000,” QCP noted, adding that BTC would likely remain range-bound, like a cat stuck in a tree.
Traders are pushing back their bullish timelines, with options flows over the past week reflecting this indecision. All eyes now turn to this week’s US CPI and PPI prints, which could jolt crypto markets out of their slumber, much like a sudden thunderstorm on a quiet day.
Until then, Bitcoin’s fate, and by extension, the summer’s trading tone, hinges on whether it can decisively clear its breakout level or stall once again, like a horse refusing to jump over a fence.
As indicated in a recent US Crypto News publication, sound money advocate Lawrence Lepard says Bitcoin is the asymmetric bet amid macroeconomic noise. A bold claim, indeed!
Chart of the Day
This chart shows BTC traded for $107,234 as of this writing. After confirming the 20% target objective of the falling wedge pattern, the pioneer crypto ascended to an all-time high of $111,980. But alas! Profit booking interrupted the rally, establishing a supply zone between $109,242 and $111,774. Traders looking to take a long position on Bitcoin should wait for a candlestick close above the midline (mean threshold) of the supply zone at $110,478.
A candlestick close above this midline on the daily time frame would set the tone for a new all-time high, potentially flipping the supply zone into a bullish breaker. Or perhaps just another day in the life of a crypto trader!
Byte-Sized Alpha
Crypto Equities Pre-Market Overview
| Company | At the Close of June 6 | Pre-Market Overview |
| Strategy (MSTR) | $374.47 | $382.99 (+2.28%) |
| Coinbase Global (COIN) | $251.27 | $256.00 (+1.88%) |
| Galaxy Digital Holdings (GLXY.TO) | $19.98 | $20.55 (+2.85%) |
| MARA Holdings (MARA) | $15.78 | $16.24 (+2.92%) |
| Riot Platforms (RIOT) | $9.85 | $10.21 (+3.65%) |
| Core Scientific (CORZ) | $12.19 | $12.39 (+1.64%) |
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2025-06-09 18:15