🚨BREAKING NEWS TODAY🚨
Today, June 8, 2025, there are several key news items significantly impacting the cryptocurrency market:
• “Law and Order” Signals from the White House
On June 8, the White House emphasized the tightening of the legal framework for companies related to cryptocurrency, causing shares in the sector such as COIN (Coinbase) to drop 2.1% to $240.15 by 11:00 AM UTC. At the same time, S&P 500 futures fell 0.5% to 5,320 points, creating a general cautious sentiment that pulled Bitcoin and Ethereum prices sideways or slightly down during the morning.
• Impact from Ethereum's Pectra Upgrade
The Pectra upgrade has just been implemented, improving interoperability and reducing transaction fees, while boosting DeFi activity on the network. As a result, ETH prices have increased by approximately 4% during the day, along with trading volume rising by 12% compared to yesterday.
• “Cup and Handle” Pattern in Bitcoin
Updated technical analysis indicates that Bitcoin is forming a “cup and handle” pattern – a potential bullish signal. BTC prices are fluctuating around $105,000, with strong resistance in the range of $106,000–$107,000; if it successfully breaks through, a new breakout may occur.
• Influence from Stocks and Global Risk Sentiment
The correlation between stocks and cryptocurrencies remains clear: on June 7, the S&P 500 rose 0.5% and Nasdaq increased by 0.7%, leading to a 15% increase in Bitcoin (BTC/USDT) trading volume and a 12% rise in Ethereum (ETH/USDT) on June 8, indicating that “risk-on” capital flows continue to support short-term gains for crypto.