Bitcoin weekly review, Market news, New Prize pools, Ton & Pendle listing, What are the features of Coinmarketcap

Week in Review

• US Treasury Announces Crypto Tax Regime for 2025: The US Treasury has introduced a new crypto tax regime set for 2025, while delaying the implementation of rules for non-custodians.
• SBitcoin ETFs: Spot Bitcoin ETFs saw $1.3 billion outflows in two weeks.
• Solana ETF: VanEck files for a spot Solana ETF.
• SEC Lawsuit: SEC sues Consensys over MetaMask staking and broker activities.
• Seized Bitcoin: US government sends 3,940 BTC to Coinbase from Silk Road investigations.
• Runes Drop: Runes transactions fall 88% in June.
• Biden Debate: First extra-official debate disastrous for Biden, crisis for Democrats.
• Japanese Yen: Falls to 38-year low; new FX diplomat announced.
• US Economy: Q1 GDP grows 1.4%, consumer confidence dips, core PCE inflation at 2.6%.

EXOLO UPDATES:

What’s New at EXOLO?

Earn 1500 FLOKI Tokens Daily with Futures Trades!

We are thrilled to introduce our new Task Reward Plan for EXOLO!

Starting July 1, 2024, all active users can earn 1500 FLOKI Tokens daily by reaching a 1000 USDT (including leverage) volume in their Futures trades.

Exclusive Prize Pool Event for TON Token Listing on EXOLO!

We are thrilled to announce the launch of our exclusive prize pool plan to celebrate the listing of the TON token on EXOLO Spot and Futures markets. This exciting event will kick off on Monday, July 1, 2024, and run for a full week until Sunday, July 7, 2024. Join the Prize Pool.

Exciting News: PENDLE Token Prize Pool Plan on EXOLO!

We're thrilled to announce the PENDLE Token Prize Pool Plan to celebrate PENDLE's listing on EXOLO Spot and Futures!

Event Dates: July 1 - July 7, 2024 Total Prize Pool: 1500 PENDLE Tokens. More info

Technicals & Macro Analysis

BTCUSD

Core PCE inflation has provided a consensus figure, forming a solid base in the range. Contrary to last week's expectations of a potential downside, investors are now anticipating the Fed to cut rates and start the easing cycle by year-end.

Current Price Zone: Efficient with key levels at 66,000 (midpoint) and 72,000 (range high). A break above 72,000 could push BTC to all-time highs, while a drop below could see a fall to 53,000, with the ascending trendline from late 2023 as support.

Immediate Downside Pressures:

• Mt Gox disbursements adding 140,000 BTC to the market.
• ETF outflows influencing short-term sentiment.

Watch NFPs: Growth indicators could signal further easing.

ETHUSD

Ethereum mirrors Bitcoin’s market behavior, with a rising basis curve suggesting market makers are holding long ETH positions in anticipation of the US spot ETF launch. The S-1 forms due for amendment on July 8 should provide further SEC timing guidance.

Key Levels:

• 3,150/3,350/3,640/4,000

Educational Spotlight with EXOLOGY

Exploring CoinMarketCap: Essential Tips for Crypto Analysis

Learn how to track prices and understand market trends with CoinMarketCap. This valuable tool helps you make smart investment choices by providing live data and insightful analysis.

Best Uses of CoinMarketCap:

• Track real-time prices
• Monitor market trends
• Analyze historical data

Read our full guide

What to Watch

• Fed chair Jerome Powell speaks at ECB Forum and US Jolts Job openings report, on Tuesday.
• FOMC meeting minutes, on Wednesday.
• UK’s parliamentary elections, on Thursday.
• Canada and US unemployment rate (the big NFPs), on Friday.

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