🚨🚨HOT MARKET NEWS🚨
Below are the “hot” developments today that may be shaping trends and sentiment in the cryptocurrency market:
1. U.S. Congress moves closer to stablecoin regulation
According to Reuters, the bill requiring stablecoins to be backed by liquid assets such as USD and T-bills is set to pass, driving increased demand for U.S. Treasury bonds from major stablecoin players like Tether and Circle, potentially expanding the government debt market from $247 billion to $2 trillion by 2028.
2. UK considers reopening Bitcoin ETNs for retail investors
The FCA is holding a four-week consultation to lift the ban on crypto ETNs (similar to ETFs but not requiring ownership of underlying assets) for individual investors, after six years of being restricted to professionals. This move aims to encourage safe innovation, but could also increase volatility due to retail money flowing into the market.
3. RBI reaffirms caution on cryptocurrencies in India
The Reserve Bank of India maintains its concerns about risks to monetary policy and financial stability, even though the Supreme Court has made favorable rulings for crypto. The RBI stated that it will continue to monitor the situation and has no plans for easing in the short term.
4. Waiting for U.S. jobs report (Nonfarm Payrolls)
The cryptocurrency market tends to fluctuate significantly around NFP data; news at the end of June 6, 2025, indicated that BTC and altcoins had slightly recovered ahead of the report release, showing that capital is still “betting” on the possibility of the Fed lowering interest rates in the near future.