Crypto Craze: Will Bitcoin Keep Soaring or Crash Party? Find Out! 🚀💸

What to know:

By Francisco Rodrigues (All times ET unless you’re desperately checking your phone)

surged over the weekend, giving traders a much-needed breather after a full week of market chaos and caffeine-fueled panic. Now lounging around $106,600, it’s up 1.2% in the past 24 hours—because apparently, even crypto needs a caffeine fix—while the broader CoinDesk 20 (CD20) index nudged nearly 1.7%. 📈

The market’s bouncing back didn’t come from some scandalous headline; instead, it was probably just the universe taking a nap from all the Trump-Musk soap opera drama that kept investors tossing popcorn at their screens. As the tempers cooled, the markets decided to join the cool kids and recover.

Even the bad news couldn’t keep Bitcoin down: Taiwan’s crypto exchange BitoPro got hacked—a real Hollywood thriller—and Blockchain.com showed BTC’s network activity hitting its lowest in a year. But hey, nothing says “buy the dip” like a good hacking scandal, right? 🔓

Meanwhile, across the pond, the Hang Seng index shot up 1.6%, likely reacting to Trump’s sunny optimism about talks with China in London. He said they “should go very well,” which is Trump-speak for “Remember, I said it first.”

But don’t get too comfortable—the specter of deflation haunts China: consumer prices dipped 0.1%, and factory gate prices plummeted 3.3%, the deepest dive since October 2022. The People’s Bank has gone into full “let’s help” mode—lowered interest rates, reduced reserve requirements, and pumped liquidity like it’s a kiddie pool. These liquidity moves might play into crypto’s hands eventually, trading like reserved party animals at the liquidity bash.

All eyes turn Wednesday for the U.S. inflation report—think of it as the weather report for investor mood swings. Experts expect a core inflation rise to 2.9%, up from 2.8%. If it surprises us (because who doesn’t love surprises), the Fed might keep rates high, and markets could do that awkward dance of volatility. 💃🕺

Spanish bank Bankinter threw in their two cents, warning that rising inflation and U.S. bond yields might dampen stock euphoria and undermine the “fear of missing out” energy that’s been buttressing risky assets—because nothing says “chill” like a potential market shake-up. The 10-year Treasury yield recently hit 4.5%, and if inflation surprises, watch out below. Crypto’s caught in the middle, so stay alert and don’t say we didn’t warn you. ⚠️

Conferences

The CoinDesk Policy & Regulation conference, formerly known as State of Crypto, is a one-day shindig in Washington on September 10. A must-attend for legal eagles, compliance nerds, and anyone who loves watching bureaucrats pretend they understand crypto legislation better than they understand their own passwords.

June 14: Incrypted Crypto Conference 2025 (Kyiv)
June 18-19: Canadian Blockchain Consortium’s Policy Summit (Ottawa)
June 19-21: BTC Prague 2025
June 25-26: Bitcoin Policy Institute’s Summit (Washington)
June 26: The Injective Summit (New York)
June 26-27: Istanbul Blockchain Week
June 30 – July 3: Ethereum Conference in Cannes—because what’s a summer without some ether? 🌞

Token Talk

By Francisco Rodrigues (because who else?)

Skate, the new blockchain infrastructure darling, drops its SKATE token today—because nothing’s cooler than skating on liquid liquidity.
This token debut, or Token Generation Event (TGE), will be available on Binance Alpha, Bybit, and MEXC. It’s like the VIP lounge of crypto launches.
Formerly Range Protocol, Skate aims to let dapps glide smoothly across Ethereum, Solana, and TON without requiring multiple deployments—because who has the time?
The token fuels governance, staking, and liquidity—like a Swiss Army knife, but cooler and with fewer excuses for not fixing your bike.
Out of a billion tokens, 10% are up for grabs via airdrops to early adopters and NFT fans—claim now or forever hold your crypto.
Trading started on June 4, jumping to $0.20, then dropping back to $0.12—because crypto’s as stable as a toddler on a sugar rush. 🍭

Derivatives Positioning

BTC options sit at a staggering $32.9 billion open interest, with calls outnumbering puts 200,000 to 110,000—because everyone thinks it’s going up, even if the sky is falling.
The put/call ratio is 0.54—meaning traders are still betting big on upwards moves, bless their hopeful little hearts.
The $140K strike has 16,100 calls open, worth nearly $1.8 billion—probably dreams of buying a yacht.
The main expiry on June 27 sees $13.1 billion in open interest—because investors are all about deadlines and drama.
Monday’s flow data shows 31% of contracts bought were calls, and 17% were puts—combined with strategic selling that screams “I’m bullish but also cautiously optimistic.”
Liquidation hotspots around $104K and $107K suggest some traders might burst their balloons if Bitcoin dips too low. Watch that floor! 🏦
Funding rates hover at 6.2%, indicating a moderately bullish mood—no excess leverage, just a bit of hope on a string.

Market Movements

Bitcoin sneaked up 2% since Friday, now around $106,744, because it clearly missed its caffeine shot. (+1.19%)
Ethereum nudged 0.5% higher to $2,514.74, still trying to outdo BTC in the “who’s more relevant” contest. (+0.29%)
CoinDesk 20 rose 2.18% to 3,088.96, because everyone loves a good rally. (+1.36%)
Ether’s CESR staking rate dipped slightly—bit of a slowdown, maybe it’s melting in the sun.
BTC funding rate steady at 0.006%; just enough to keep traders mildly interested without risking a mass exodus. (6.5667% yearly)

DXY dips 0.31%, now at 98.89, possibly exhausted after yelling at the markets.
Gold futures tumble 0.16%, resting at $3,341.10—probably tired of all the attention.
Silver shines up 0.87% at $36.46—because shiny always wins.
Nikkei 225 up 0.92% at 38,088.57—Japan’s stock market giving us a gentle jig.
Hang Seng jumps 1.63%, because even Hong Kong likes a good rally.
FTSE slips 0.11%—not everyone’s hyped about Brexit boomerangs.
Euro Stoxx 50 nudges 0.16%, feeling modest but hopeful.
Dow Jones up 1.05% at 42,762.87 and S&P 500 +1.03% at 6,000.36—because Wall Street likes to keep us on our toes.
Nasdaq gains 1.20%, so tech stocks are basically doing the Macarena. 💃
Canadian stocks, Latin America markets, and US bonds showing some love or at least a nod of approval.

Bitcoin Stats

Bitcoin’s dominance stands at 64.7%, up 0.19% as it continues to steal the spotlight.
Ethereum/BTC ratio is 0.02355—because someone decided fractions are fun.
Hashrate is steady at 872 EH/s—just miners doing their thing.
Hashprice rests at $52.77—crypto’s version of a coffee break.
Total fees: 3.17 BTC, or about $335K—because fees are the new tipping jar.
CME Futures open interest: 148,080—futures players love to gamble.
BTC priced in gold: 31.8 oz—because what’s more classic than Bitcoin and gold?
Market cap of Bitcoin vs gold: 9.01%—a reminder that crypto is still chasing shiny things.

Technical Analysis

Bitcoin has proudly reclaimed its 20-day EMA (exponential moving average)—it’s like getting a fresh haircut after a bad week.
It just broke out of a downward trendline, hinting that maybe, just maybe, the bad days are behind us.
But wait—the key daily order block still looms as resistance, behaving like that overly cautious friend who always says “maybe.”
For a bullish push, BTC needs to stay above these EMAs and close the week above $109,400—because nobody likes a tease.

Crypto Equities

MSTR closed Friday at $374.47 (+1.54%) and pre-market at $381.49 (+1.87%)—because crypto stocks love a little morning boost.
Coinbase (COIN): $251.27 (+2.9%), heading toward that moonshot.
Circle (CRCL): soaring at $107.7 (+29.4%), apparently crypto isn’t just a fad anymore.
Galaxy Digital, MARA, RIOT, and others showing signs of life—I guess mining and staking are in fashion again.
Exodus (EXOD) at $28.86 (+10.45%)—because sometimes, you just need to Exodus to the moon.

ETF Flows

Spot BTC ETFs: Daily flows—-($47.8 million)—because even ETFs need a break; total holdings about 1.2 million BTC, dimly related to the crypto chaos.

Spot ETH ETFs: Daily flows of $25.3 million and about 3.77 million ETH—because everyone’s chasing the ETH dream.

Overnight Flows

Chart of the Day

The U.S. spot ether ETFs are finally on a streak of 15 days of positive flows—proof that Ethereum’s glow-up isn’t just a phase. Following the Spectrum upgrade and ETH/BTC recovering from a five-year low, perhaps the crypto universe is just getting started. 🌈

In the Ether

Multiple stunning images of ETH in all its glory, showing us that even in a world full of chaos, some coins like to shine bright—plus, legal battles and tech updates make it all the more dramatic. Keep calm, and let Ether do its thing. 🚀

Siamak Masnavi, Jacob Joseph, Jamie Crawley contributed reporting. Because who doesn’t need a bit of crypto gossip with their coffee?

2025-06-09 15:18