material based on information from the site - By CryptoPotato_News

In the last 48 hours, millions of dollars were liquidated in the cryptocurrency market due to tensions between U.S. President Donald Trump and billionaire businessman Elon Musk. Their public feud caused the markets to end the week on a bearish note.

However, the weekly report from cryptocurrency exchange Binance shows that investors maintain cautious optimism, with growing confidence in a soft landing and a slow cooling of the economy. Nevertheless, they remain sensitive to inflationary risks and signals from the Federal Reserve.
The feud between Trump and Musk shakes the markets
Bitcoin (BTC), which has mainly consolidated between $104,000 and $106,000 since the beginning of the week, fell below $101,000, dropping to a multi-week low amid the feud between Trump and Musk. Ethereum (ETH) was also affected, briefly dipping below $2,400.
Besides the low prices of BTC and ETH, their balances on cryptocurrency exchanges recorded a significant decline in the first few days of the month. Since the beginning of May, the indicator tracking the two largest digital assets has fallen by 4.3% and 7.5%, respectively.

This drop in supply marked new annual lows for BTC and ETH balances held on exchanges. Binance believes this may be a sign of accumulation as investors withdraw their assets from trading platforms.

Moreover, the correlation of Bitcoin with stocks and gold continues to hold. The two-month correlation between BTC and the S&P 500 rose to 0.49 from last week, while the cryptocurrency's correlation with gold climbed to 0.09.

ETFs gain institutional popularity
On the other hand, cryptocurrency exchange-traded funds (ETFs) are gaining institutional popularity, which can be explained by some recent regulatory reforms. At the end of May, the Securities and Exchange Commission (SEC) released guidance stating that staking assets in Proof-of-Stake (PoS) networks are not considered transfers of securities. From that point on, crypto-ETF providers may include staking rewards in their offerings.

Building on the same momentum, multinational financial giant JPMorgan announced two days ago that it will allow clients to use shares of crypto-ETFs as collateral for loans.

In particular, Circle, the issuer of the stablecoin behind USD Coin (USDC), began its initial public offering (IPO) on the New York Stock Exchange (NYSE). The firm raised $1.5 billion for the IPO by selling 34 million shares at $31 each.
However, the 220 million shares issued, disclosed in its SEC filing on June 2, indicate that the valuation was $6.9 billion. At the time of writing, the company's market capitalization was at least $20 billion after a sharp rise in its shares on the NYSE following the listing.

$BTC , $ETH ,$SOL

#Market Rebound , #Сryptomarketnews


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