Crypto News Today: Bitcoin Above $63K Amid Positive Momentum

Crypto market cap rose by 3.70%, reaching $2.45 trillion

• This week, the crypto market awaits economic data, macro events, and Ethereum ETF updates. ASI token merger on July 1 also in focus.

• ETH price surges as Abraxas Capital withdraws 60K ETH ($203M) from Bitfinex. US Ethereum ETFs expected soon.

Major Events To Watch

Crypto Fear and Greed Index:

The Crypto Fear and Greed Index shows a shift to 53, up from 47 yesterday and 30 last week.

Crypto market sees significant surge in the past 24 hours

TOP 5 Gainers Coins

Latest Market Update: 

• Bitcoin (BTC) surpassed $63,000 during the weekend, marking a significant rise.

• Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) all showed gains.

• The Ethereum Name Service (ENS) token saw the largest increase, rising by nearly 30% in 24 hours.

• Kaspa (KAS) experienced the largest decline, with a nearly 2% dip over the same period.

• The total crypto market volume over the last 24 hours is $52.14B, a 49.02% increase.

• DeFi volume is $3.75B, representing 7.19% of the total crypto market 24-hour volume.

• Stablecoin volume is $48.28B, making up 92.58% of the total crypto market 24-hour volume.

• Bitcoin's dominance is 53.54%, an increase of 0.13% over the day.

Major Worldwide News Update:

• The crypto market anticipates a pivotal week with events like delayed Spot Ethereum ETFs, EU’s MiCA regulation launch, and Federal Reserve’s June meeting minutes. U.S. job data and trade deficit figures also loom large. These developments could sway investor sentiment and market dynamics, underscoring the need for informed decision-making in the volatile crypto space.

• Cryptocurrency market rebounds in Q3 with Ethereum (ETH) surging over 5% to surpass $3,500. Whale activity, highlighted by Abraxas Capital withdrawing 60K ETH from Bitfinex, drives a price rally towards $3,500. Excitement mounts for the upcoming spot Ethereum ETF, despite SEC delays, potentially boosting ETH towards $4,000 levels.

• Lower capital costs and higher liquidity typically favor high-growth assets like Bitcoin. Despite controlled US inflation, the cryptocurrency market isn't responding positively. The Federal Reserve's cautious approach amid slowing inflation suggests reduced expectations for interest rate cuts, impacting market sentiment and investor risk appetite.

• The EU's new MiCA regulation is now in force, offering clear legal and regulatory guidelines for the digital asset market. Designed to mitigate boom-bust cycles in crypto, MiCA mandates compliance for stablecoins with e-money regulations. This move aims to bolster consumer protections and pave the way for global crypto legislation.

• The SEC has filed a lawsuit against ConsenSys, the Ethereum software provider, accusing its MetaMask wallet service of acting as an unregistered broker by facilitating the sale of securities. Additionally, the SEC targeted Ethereum staking services Lido and Rocket Pool, alleging their tokens stETH and rETH are unregistered securities. This lawsuit marks the SEC's recent push to regulate various aspects of the crypto market under securities laws.

• Ethereum co-founder Vitalik Buterin proposed a new "Secure Speed Finality" (SSF) mechanism to enhance transaction speeds, moving away from Ethereum's current slot-and-epoch system. The SSF aims to achieve quicker finality, akin to Tendermint consensus, while addressing network load challenges with solutions like the Orbit SSF proposal..

• Keith Gill, known for the GameStop short-squeeze, faces a securities fraud lawsuit over social media posts allegedly manipulating GameStop (GME) stock prices. Filed June 28, the lawsuit claims Gill misled investors by not disclosing trades adequately. However, legal experts believe the case is likely to fail due to weak grounds.

COIN GABBAR Views: Can BTC bulls take back control as Bitcoin rebounds and initiates the quarter positively, potentially reaching $70,000 in July? How will the market respond to upcoming economic data releases, macro events, updates on the Ethereum ETF, and the ASI token merger scheduled for July 1? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

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