According to Cointelegraph: Bitcoin sentiment is facing significant pressure as BTC price weakness has driven it to six-week lows. As the last week of June begins, Bitcoin is edging closer to retesting its lower price range, approaching the critical $60,000 support level.

1. BTC Price Hits New Six-Week Lows

Current Price Levels:
- Latest Movement: Bitcoin has dropped another 1.25% since the June 24 daily close, reaching around $62,823.
- Lowest Since May 15: BTC/USD hit $62,128 on Bitstamp, marking the lowest level since May 15.

BTC/USD 1-day chart. Source: TradingView

Market Reaction:
- Bullish Nerves Tested: Bulls are now facing the challenge of a 7% loss month-to-date, with key moving averages already given up.

BTC liquidation heatmap (screenshot). Source: CoinGlass

Trader Sentiments:
- Crypto Ed: “BTC looks weaker than I expected and should see some more downside.”
- Daan Crypto Trades: He highlights critical levels within Bitcoin’s multi-month trading range, emphasizing the importance of the "golden pocket" Fibonacci retracement level for a potential bounce.

BTC/USDT perp chart. Source: Daan Crypto Trades

2. PCE Week and Fed Liquidity

Key Economic Data:
- Upcoming Releases: U.S. unemployment data (June 28), revised Q2 GDP figures, and the Personal Consumption Expenditures (PCE) index.
- Impact on BTC: Previous sensitivity to employment data and the PCE’s influence as the Fed’s preferred inflation gauge could significantly impact Bitcoin’s direction.

Fed target rate probabilities for September meeting. Source: CME Group

Market Expectations:
- Kobeissi Letter: Emphasizes the importance of these data releases in deterring stagflation fears.
- Matthew Dixon: Predicts a lower-than-expected PCE read, potentially turning Bitcoin and other risk assets higher.

3. Stocks Outperform Crypto

Stock Market Performance:
- S&P 500 and Nasdaq: U.S. stocks have hit new highs, contrasting with crypto’s recent weakness.
- Inverse Correlation: Highlighted by Kobeissi, who notes strong market risk appetite despite crypto’s decline.

S&P 500 vs. total crypto market cap chart. Source: TradingView

Fed’s Influence:
- Liquidity Levels: Market commentator Tomas points out a $140 billion drop in Fed liquidity last week as a potential reason for Bitcoin's underperformance, although he suggests liquidity may be near local lows, implying a possible rebound.

4. Focus on Bitcoin Whales

Whale Activity:
- Order Book Spoofing: Recent weeks have seen spoofing activities driving prices towards liquidity, creating artificial volatility.
- Accumulation Trends: Data shows mixed whale behaviour, but confidence is growing that current price levels around $62K are attracting whales.

Market Impact:
- MartyParty: Argues that whales have been buying the dip in record numbers, speculating on market manipulation by market makers.

Bitcoin whale orders data. Source: MartyParty

- CryptoQuant Analysis: Indicates an uptick in inflows to accumulation addresses since June 20.

BTC inflows to accumulation addresses. Source: CryptoQuant

5. Decline in Crypto Sentiment

Sentiment Indices:
- Crypto Fear & Greed Index: Dropped to 51/100, nearing 2024 lows, indicating a shift towards fear from extreme greed a week ago.

Crypto Fear & Greed Index (screenshot). Source: Alternative.me

Market Commentary:
- Santiment: Notes a rare level of fearmongering among BTC market participants.
- Jelle: Describes the worsening sentiment as typical prelude to an all-time high run, similar to previous cycles.
- IncomeSharks: Attributes low sentiment to overtrading in tough conditions, leading to losses.

Bitcoin sentiment data. Source: Santiment

Bitcoin faces a critical week ahead as it approaches $60,000, with sentiment and whale activity under the microscope. The impending economic data releases and Fed liquidity levels are expected to play pivotal roles in determining whether BTC can maintain its support and potentially set the stage for a rebound in the near future.

🗣Introduction
Bouncebit, a leading player in the blockchain and decentralized finance (DeFi) space, has unveiled the latest iteration of its popular platform, Bounceclub V2. This new version introduces a host of advanced features designed to enhance user experience and broaden the platform’s capabilities. The launch of Bounceclub V2 marks a significant upgrade, aimed at providing users with more robust tools and improved functionality.
🔸What's New in Bounceclub V2?
Bounceclub V2 comes packed with several new features and improvements that set it apart from its predecessor. Here’s a closer look at the key enhancements:
1. Advanced Auction Mechanisms: Bounceclub V2 introduces refined auction mechanisms that offer greater flexibility and efficiency. Users can now participate in various auction formats, including English auctions, Dutch auctions, and sealed-bid auctions, providing more options for both buyers and sellers.
2. Enhanced User Interface: The updated platform features a revamped user interface that prioritizes ease of use and accessibility. With a more intuitive design, users can navigate the platform seamlessly, making it easier to manage auctions, track assets, and engage with other users.
3. Integration with Additional Blockchains: Bounceclub V2 expands its compatibility by integrating with multiple blockchain networks. This interoperability allows users to interact with assets and tokens across different ecosystems, broadening the range of available opportunities.
4. Improved Security Features: Security is a top priority in Bounceclub V2, with enhanced protocols and features designed to safeguard user assets and transactions. The platform now includes advanced encryption methods and regular security audits to ensure a safe and secure environment.
5. New Asset Management Tools: The updated version offers advanced asset management tools that enable users to track, analyze, and manage their assets more effectively. These tools provide detailed insights and analytics, helping users make informed decisions.
6. Community-Driven Governance: Bounceclub V2 incorporates a community-driven governance model, allowing users to have a say in the platform’s future developments and decision-making processes. This feature fosters a more inclusive and participatory environment.
🔸Benefits for Users and Stakeholders
The enhancements in Bounceclub V2 are designed to deliver significant benefits to users and stakeholders:
1. Greater Flexibility: The introduction of multiple auction formats and blockchain integrations offers users increased flexibility and options, catering to diverse needs and preferences.
2. User-Friendly Experience: The improved interface and asset management tools make it easier for users to navigate the platform and manage their investments, enhancing overall user satisfaction.
3. Enhanced Security: With upgraded security features, users can have greater confidence in the safety of their assets and transactions, reducing risks associated with online trading.
4. Community Engagement: The community-driven governance model empowers users to contribute to the platform’s evolution, fostering a sense of ownership and engagement within the Bounceclub ecosystem.
🔸Impact on the DeFi Ecosystem
The launch of Bounceclub V2 is poised to have a notable impact on the DeFi ecosystem. By offering advanced auction mechanisms, increased interoperability, and improved security, the platform positions itself as a key player in the decentralized finance space. Its new features address common pain points in DeFi trading and asset management, potentially setting new standards for auction platforms and decentralized exchanges.
🔸Future Outlook
Looking ahead, Bouncebit plans to continue refining and expanding Bounceclub V2 based on user feedback and evolving market trends. Future updates may include additional features, integrations with new blockchain networks, and enhancements to the platform’s functionality. The company’s commitment to innovation and user satisfaction ensures that Bounceclub V2 will remain at the forefront of the DeFi space.
🔸Conclusion
Bouncebit’s launch of Bounceclub V2 represents a significant advancement in the DeFi landscape, offering users a suite of new features designed to enhance their trading and asset management experiences. With its focus on flexibility, user experience, security, and community engagement, Bounceclub V2 is set to make a substantial impact and pave the way for future developments in decentralized finance. As the platform continues to evolve, it will be closely watched by industry participants and users alike, eager to see how it shapes the future of DeFi.#CryptoPCEWatch #DOGSONBINANCE #BinanceTurns7 #bouncebit

Sets Solana Target at $900, and Foresees Rexas Finance (RXS) Surging to $17 from Under $0.05 Today
Ethereum Expected to Reach $7,000 by 2025
Ethereum (ETH) which is the largest Altcoin, and the second-largest cryptocurrency by market capitalization has played a great role in adopting the growth of the blockchain and crypto world. Aside from being a crypto coin, Ethereum runs as a public tamper-proof ledger with programmable features and enables DeFi projects, NFTs, and various other distributed systems.

The alterations of the network, such as the recent change to Ethereum 2.0, which brought with it the Proof of Stake (PoS) consensus model, have improved the ability of the system to scale and also reduced the energy used in running the system. This change is essential to the future growth of Ethereum because the PoS model increases the security of the network while enabling a greater throughput in terms of more “electricity” for more “computers” which will cause a rush by developers and huge corporations.

Several Analysts expect that the current developments in Ethereum, alongside the continued market dominance of the DeFi and NFT categories, could propel its price to $7,000 by 2025.
Solana’s Price Target Set at $900
Solana (SOL) has been the other altcoin that has been making some headlines especially because of its speed and cheaper transactions which makes it popular with both the developers and the users. There has also been a resurgence in Solana’s activities where it has been trading above $170 and it looks set to make the next reasonable price rally.

The noted analyst is a popular cryptocurrency analyst in the X platform (formerly Twitter) to have observed that Solana is working out a bull pennant which usually results in a heavy bull run. This pattern which comes after a sharp increase in the price of Solana’s assets and a half-time buildup indicates that a SOL price pump is imminent with Analysts predicting as high as 900%.

According to this forecast, Solana will be propelled by the expansion of its ecosystem, the increased speed of its transactions as compared to most other blockchains and the various applications of Solana in DeFi & NFT markets and will consequently trade at $900 by the year 2025. If Solana does manage to mainstream its research and development and especially it’s parallel transaction processing tech we may see its price increase significantly in the years to come probably hitting the analyst’s target of $900.

Rexas Finance (RXS) Surging to $17 from Under $0.05 Today
It is no longer just Ethereum and Solana that dominate the crypto space. A new player is shaking the market – Rexas Finance (RXS). Analysts believe that at the present price of just below $0.05, RXS has a lot of firepower to reach $17 as a result of its innovative strategy of Real-World Asset (RWA) tokenization.

What is Rexas Finance and RWA Tokenization?
Rexas Finance is a blockchain-based platform that facilitates users in tokenizing real estate, art, commodities, and other real-world assets. Thus, dividing and making illiquid existing ownable assets into tradable dematerialized ones.

RWA tokenization is an idea that has the potential to change the present financial order all over the world. Using a more systematic approach that involves asset tokenization, there is improved transparency, improved operational efficiency, and availability of investments that were previously restricted to wealthy individuals and foremost institutions. Such is the promise that the democratization of asset ownership provides, thus why RWA projects including Rexas Finance are well appreciated.

Due to the safety and transparency offered by the technology, all types of investors can invest in assets and objects owning fractions of them, fostering new forms of wealth. According to the statement made by the Managing Director of Rexas Finance, it’s clear that their platform will transform the management, trading, and ownership of assets and it will introduce liquidity on illiquid markets and use DeFi protocols to maximize investors’ returns.
#FTXSolanaRedemption #CryptoPCEWatch