today news📰
Stablecoin & market‑structure legislation: U.S. Congress is progressing on both. The Senate is headed toward a vote on stablecoin rules (the GENIUS Act), while the House has pushed a market‑structure bill through committees .
Institutional flows: Crypto funds hit a record $167 billion in May, with BTC and ETH funds drawing $5.5 billion and $890 million respectively .
Stablecoin rules nearer: The Senate has begun final votes on a stablecoin framework—the first of its kind in the U.S. .
Market‑structure bill advances: Two House committees (Agriculture and Financial Services) have approved the Clarity Act—though political headwinds may still stall full passage .
Crypto prices buoyed: Both BTC and ETH edged higher as CPI came in softer than expected and U.S.–China trade optimism returned .
Bitcoin supply tightens: BTC off‑exchange supply hit new lows, increasing volatility potential .
GameStop eyes Bitcoin: GameStop is planning a $1.75 billion capital raise—reports suggest part of it may go to BTC acquisitions, adding institutional interest .
Geo‑political jitters: U.S. evacuation of personnel from the Middle East has triggered a brief crypto dip, highlighting crypto’s sensitivity to global risk events .
Tight supply + inflows: With $BTC BTC supply dwindling on exchanges and continued institutional investment via ETFs and treasury programs, short‑term upside momentum remains plausible.
Legislative watch: Crypto-friendly bills moving forward could meaningfully impact market structure and regulatory clarity—keep an eye on Congressional updates.
Macro cross-talk: Equities, inflation data, and global macro events (like geopolitics) remain tightly correlated to crypto moves—today’s grind lower reflects this dynamic.
Technical traders are eyeing BTC near $71,500–72,000 resistance with RSI trends forming .
Ethereum’s hovering near $2,800–3,600, driven by institutional flows in $ETH ETH futures and ETFs .
