Crypto Market update for Wednesday, June 4, 2025:
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📊 Market Snapshot
Bitcoin (BTC): $105,346 (+0.02%)
Ethereum (ETH): $2,625.61 (+0.62%)
BNB: $669.17 (+0.35%)
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🔍 Top Stories
$BNB Breaks Through $670: BNB has surpassed the $670 mark, trading at $670 USDT with a 0.45% increase in 24 hours.
Bitcoin & The FED: Analysts discuss the potential for Bitcoin to reach a new all-time high beyond $200,000, considering the current market trends and Federal Reserve policies.
China's Crypto Ban: On May 31, 2025, China implemented a comprehensive ban on all cryptocurrency activities, including trading, mining, and individual ownership, causing significant market reactions.
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📈 Technical Analysis
Ethereum ($ETH ): Currently trading at $2,616.50 with a 24-hour high of $2,655.38 and low of $2,575.00. Key resistance at $2,655; support at $2,575.
Solana ($SOL ): Trading around $162, showing a modest recovery after last week's 13% decline. A bullish signal suggests potential for a short-term reversal.
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🌐 Global Events Impacting Crypto
U.S. Tariffs: President Trump announced an increase in tariffs on imported steel and aluminum from 25% to 50%, effective June 4, 2025.
Federal Reserve Outlook: Fed Chairman Bostic indicated the possibility of an interest rate cut this year, depending on economic conditions.
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📅 Upcoming Events
June 2025 Crypto Calendar: Stay updated with key events and developments in the crypto space throughout June.
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Stay informed and make strategic decisions in the ever-evolving crypto market.
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