Bitcoin is currently priced at $109,380, with a key resistance level at $110,700. A breakout could target $112,700-$115,103. The technical analysis shows a 'golden cross' with the 50-day moving average crossing above the 30-day moving average, indicating a bullish pattern. The short-term support level is $105,075.
Ethereum is currently priced at $2,780.39, with bullish sentiment in the options market, and implied volatility exceeding 70%. It needs to break through the $2800-$3000 resistance zone to initiate a trend towards $3400.
The licensing requirements for Digital Token Service Providers (DTSP) in Singapore will officially be implemented on June 30. Unlicensed entities must cease providing services to overseas clients.
The licensing scope is broad (covering token issuance, custody, trading, etc.), with an approval rate of less than 10% (only 33 companies approved), and compliance costs are high (minimum paid-up capital of 250,000 SGD).
Canaan Creative announced its unaudited Bitcoin mining operation data for May 2025, reporting the mining of 109 Bitcoins during the month and holding a total of 1,466 Bitcoins on its balance sheet at the end of the month. The total deployed computing power and operational power reached 8.75 EH/s and 7.27 EH/s, respectively. Chairman and CEO Zhang Nengeng stated that the upward momentum of Bitcoin prices and the increase in deployed computing power led to a 25% month-on-month growth in Bitcoin production for the company, setting a record for monthly mining output.
Michael Saylor stated that Bitcoin has passed the most dangerous phase and that there will be no more bear markets in the future, predicting a price of $1 million. He also revealed that MicroStrategy is building a unique business model by issuing Bitcoin-backed bonds and preferred stocks. Additionally, Japan's listed company Metaplanet's market value has surged, indicating a rapid influx of international capital into the Bitcoin sector.
The Russian Ministry of Digital Development is drafting new regulations to combat illegal cryptocurrency mining, with individuals facing fines of 100,000 to 200,000 rubles, and companies facing fines up to 2 million rubles. The involved cryptocurrencies will be confiscated.
Coinbase has launched home (home). Bakkt announced an update to its investment policy to include Bitcoin and other digital assets, but as of the time of the press release, the company had not purchased any related assets under the revised policy.
GameStop purchased 4,710 Bitcoins between May 3 and June 10. Since its establishment in April this year, American Bitcoin, supported by the Trump family, has accumulated 215 BTC worth over $23 million and plans to go public through a merger with Gryphon Digital Mining.
Gate's Web3 wallet, Gate Wallet, will undergo significant upgrades in the second quarter of 2025, focusing on 'experience innovation, security upgrades, and AI empowerment' through systematic reconstruction, covering six key module optimizations including wallet creation experience innovation and AI-driven trading decision support.
The decentralized identity platform Humanity Protocol announced the acquisition of the Web3 event infrastructure platform Moongate, which focuses on providing ticketing and credential management services for global events.
Taiwan, China, will hold a public hearing on the 'Virtual Asset Service Act' on June 12, with regulators proposing to regulate stablecoins and electronic payments under the same framework, following the principles of the same business, same risks, and same regulations to avoid regulatory arbitrage and unfair competition.
Ripple CEO predicts that the (GENIUS Act) will be passed before August, requiring stablecoins to be backed 100% by US dollars/Treasuries and to be audited regularly.
Connecticut has passed a law prohibiting the state government from holding or investing in any virtual currency and forbids the establishment of a 'virtual currency reserve'.
The circulation of Tron USDT-TRC20 exceeds $61.8 billion, accounting for more than half of the total USDT supply, due to a surge in cross-border payment demand driven by low fees.
The SEC has postponed the approval of the Solana ETF, but the market expects that July may usher in a 'Summer of Altcoin ETFs'; the SEC has requested the Solana ETF issuer to update the staking terms, with approval anticipated in 3 to 5 weeks at the earliest.
Summary: Singapore's tightening compliance pressures the industry to reshape, while the shift in U.S. policy (supporting self-custody and stablecoin legislation) attracts institutional funds, indicating a rise in global compliance costs and increased survival pressure on small to medium projects. The market is moving from BTC's 'independent rise' to a spread across multiple sectors (Meme resurgence, ETH capital inflow). If the trading volume share of altcoins increases (currently at 30%), the breadth of the bull market will strengthen.
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