Here are your major news and market insights for today
Headlines
1. Norway to temporarily ban energy-intensive cryptocurrency mining
The Norwegian government plans to impose a pause on new data centers using high-energy mining methods in the fall of 2025. This move aims to conserve electricity and address concerns about the limited economic benefits of such operations.
2. U.S. GENIUS Act close to final approval
The Senate-backed GENIUS Act, a stablecoin regulatory framework, is rapidly moving towards a vote in the House of Representatives. President Trump urged lawmakers to pass a 'clean' version without additional provisions—raising hopes for timely legislation.
3. Coinbase expands in Europe under MiCA license
Coinbase has obtained MiCA regulatory approval from the CSSF in Luxembourg, opening up to all 27 EU member states. Luxembourg is now its European hub, making Coinbase one of the first U.S. crypto exchanges to operate legally in the region.
4. BlackRock continues to accumulate Bitcoin
BlackRock's iShares Bitcoin Trust (IBIT) currently holds over 3.25% of circulating Bitcoin (approximately 682,500 BTC, about $6.97 billion), commanding 54.7% of the U.S. spot Bitcoin ETF market. This marks a shift in major institutional accumulation.
Market and Price Insights
Bitcoin is consolidating around $104.5k, trading within a symmetrical triangle between approximately $103.4k and $105.6k. Volatility is decreasing, suggesting an impending breakout.
Ethereum hovers around $2,528, within a tightening range, with resistance at $2,580–$2,600. The options expiration on June 21 may trigger market volatility.
Security Alerts and Industry Tips
CoinMarketCap leak: Front-end security issues led to fraudulent wallet verification prompts, prompting remedial and enhanced protective measures.
Cold wallet scam warning: SlowMist reports fake giveaways on X (formerly Twitter) offering Ledger wallets—users are urged not to share their recovery phrases.
