Crypto Market Update ā BTC Drops, UK Softens Crypto Stance & Altcoins to Watch This Weekend
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šļø Published: June 7, 2025
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š Market Overview
The global crypto market is seeing red today, with the total market cap dropping by 4.1% to $3.33 trillion. Bitcoin (BTC) is attempting to stabilize around $102,800 after pulling back from its recent peak near $107,000. Ethereum (ETH) also slipped below the $2,500 level, currently trading at $2,497.
Major altcoins are struggling as well:
Solana (SOL): Down ~18% this week
Shiba Inu (SHIB): Down ~20%
Dogecoin (DOGE): Dropped ~13%
Volatility remains high as investors await confirmation of a support zone or signs of bullish reversal.
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š¬š§ UK FCA to Lift Ban on Crypto ETNs
In a major regulatory shift, the UK's Financial Conduct Authority (FCA) has announced plans to lift its ban on crypto Exchange-Traded Notes (ETNs) for retail investors.
This change signals a more open approach to digital assets in the UK, aiming to:
Enhance competitiveness in the financial sector
Allow retail investors more autonomy in evaluating risk
Encourage innovation in regulated investment products
However, crypto derivatives will remain restricted, as the FCA maintains caution regarding complex products.
This development could increase demand for crypto exposure among UK-based retail investors and influence other regulators globally.
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š Altcoins to Watch This Weekend
Here are three altcoins showing technical setups worth watching:
š¹ 1. 1INCH
Upcoming protocol upgrade (1IP-78) could drive attention
Support holding at $0.2092
Watch for a volume surge
š¹ 2. HYPE
8% gains recently, breaking short-term resistance
Chaikin Money Flow trending bullish
If $36.47 breaks, could see a fresh rally
š¹ 3. QNT (Quant)
Golden Cross forming on 4H chart
Key resistance at $121; support at $110
Momentum indicators turning bullish
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š§ Final Thoughts
The weekend ahead looks uncertain, but full of opportunity. With BTC in a cooling phase, altcoins may show selective strength. The UKās move to unban crypto ETNs is also a big dealāit could set the tone for the rest of Europe in 2025.
Stay alert, manage your risk, and remember: sideways markets often set the stage for big breakouts.
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#CryptoNews #BTC #Ethereum #Altcoins #BinanceFeed #CryptoRegulation #UKCrypto #HYPE #QNT #1INCH
