Welcome to the US Cryptocurrency News Morning Briefing, bringing you the most important cryptocurrency news of the day.
Read experts' opinions on the Bitcoin (BTC) price outlook from a technical perspective over a cup of coffee. They mention structural signals emerging beneath the surface. These statements come as macroeconomic factors increasingly influence cryptocurrencies.
Today's Cryptocurrency News: Markus Thielen Says Bitcoin's Structural Signals Indicate Imminent Breakout
This week, Bitcoin is facing major technical limitations, and its next movement could determine the cryptocurrency market's mood throughout the summer. In the latest 10X Research, Markus Thielen warns that while the price appears to be moving within a box range, the deeper market structure is showing rare alignment.
"Funding rates, trend breakouts, and opposite positions are lining up in a way we haven't seen in the past few months. A market configuration is emerging that is drastically different from what most investors expected just a few weeks ago," Thielen says.
Thielen points out that the typically bearish negative funding rate is reappearing alongside strong spot demand and technical breakout trends.
He stated, "Almost no one notices the deeper structural signals emerging beneath the surface," calling this a "high-confidence signal" for a potential rise.
While Bitcoin is on the verge of a decisive breakout, Ethereum continues to show poor performance. According to Thielen, Ethereum's core fundamentals are collapsing, quietly confirming weakness while some altcoins show early signs.
"Some altcoins are starting to move, but only a tiny fraction are blinking green," he added.
Stablecoin dynamics are also changing. According to the research, while Circle celebrates its IPO, Tether is quietly resuming minting. Blockchain analysis company Lookonchain reports that Tether has issued 1 billion USDT on the TRON blockchain.
[The rest of the translation follows the same approach, maintaining the specified translations and preserving the HTML tags.]According to US crypto news, Lawrence Lepard, a sound money advocate, says that Bitcoin is an asymmetric bet amid the noise of macroeconomics.
Today's Chart
This chart shows that BTC was trading at $107,234 at the time of writing. After confirming the 20% target of the descending wedge pattern, the pioneering cryptocurrency rose to an all-time high of $111,980.
However, profit-taking halted the rally, forming a supply zone between $109,242 and $111,774. Traders looking to take a BTC long position must wait until the candle closes above the midline of the supply zone (average reference point) at $110,478.
If the daily candlestick closes above this midline, it could break the all-time high, and the supply zone may transition into a bullish breakout zone.
Today's Key News
Here's a summary of today's US cryptocurrency news to watch:
- Bitcoin Core's transaction relay policy aims to improve Block propagation and fee prediction but faces backlash for potentially enabling spam.
- Ethereum led crypto inflows last week at $296.4 million, showing its strongest performance since the November US election.
- Ripple's price surge suggests a strong rally ahead as long-term holders reduce liquidation activity.
- An ICO-era dormant Ethereum whale has sold over $25 million since May, and other whales are moving large quantities to centralized exchanges.
- On-chain data shows a liquidity cluster near $106,736, increasing the likelihood of Bitcoin price breaking above $105,000 and targeting $109,000.
- Circle's IPO on June 5 reflects past crypto market peaks, similar to Coinbase's IPO preceding a 54% Bitcoin drop.
- Binance Alpha's airdrop threshold soaring to 233 points raises concerns about increased costs and accessibility among traders.
- Bitcoin dominance at 58% is far from the less than 50% needed for an altcoin rally. Analyst Michael van de Poppe emphasizes fundamentals over timing, urging focus on undervalued altcoins with resilient development teams.
- Verachain saw $1.2 billion in net outflows and over 70% TVL decline, with community sentiment shifting from optimism to skepticism due to ongoing losses.
- Bitcoin spot ETF outflows slowed to $129 million last week, indicating decreased bearish momentum among institutional investors.
Cryptocurrency Stock Premarket Overview
| Company | Closed on June 6 | Premarket Overview |
| MicroStrategy (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%) |
| Marathon Holdings (MARA) | $15.78 | $16.24 (+2.92%) |
| Riot Platform (RIOT) | $9.85 | $10.21 (+3.65%) |
| Core Scientific (CORZ) | $12.19 | $12.39 (+1.64%) |
